Third Coast to Buy Great Plains in $239.6 Million All-Stock Deal

Third Coast Bancshares Inc. (TCBX) agreed to buy Great Plains Bancshares, Inc. in a deal valued at about $239.6 million. The companies announced the agreement on October 7, 2026, and the value uses Third Coast's closing share price from October 6. Great Plains owns Great Plains National Bank.

The deal is all stock. Great Plains shareholders will receive Third Coast common stock, and the release does not disclose a per-share price or exchange ratio. Third Coast plans to issue 5,570,352 new shares. After closing, Third Coast shareholders would own about 78% of the combined company and Great Plains shareholders about 22%.

Our math makes the price easier to read. As calculated by Trend & Ticker, $239.6 million spread across 5,570,352 shares implies about $43.01 per share. Great Plains reported about $1.9 billion in assets, $1.7 billion in loans and $1.7 billion in deposits as of June 30, 2026. As calculated by Trend & Ticker, the deal value equals about 12.6% of its assets and 14.1% of its deposits.

Great Plains runs 23 branches across Oklahoma and Texas. That works out to roughly $83 million of assets per branch, as calculated by Trend & Ticker. The combined company would hold about $9 billion in assets, so Great Plains would contribute about 21% of that total.

The release calls the two banks "culturally aligned, relationship-driven community banks." Third Coast would enter the Oklahoma market and deepen its presence in Dallas. Two Great Plains representatives will join the boards of Third Coast and Third Coast Bank. Mark Russell, Great Plains' chief executive, will keep a leadership role, and the bank will operate as Great Plains Bank, a division of Third Coast Bank.

Both shareholder groups must approve the deal, and it still needs customary regulatory approvals. Third Coast expects the transaction to close in the first quarter of 2027.