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Third Coast Bancshares (TCBX)
NASDAQ:TCBX
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.7Last Year’s EPS
0.61Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 28, 2022
|% Change Since: 7.55%
|Next Earnings Date:Jan 27, 2022
Earnings Call Sentiment|Positive
The company's financial performance in Q4 2024 and throughout the year was strong, with impressive growth in net interest income, loans, and deposits. The efficiency ratio improvement and significant increase in net income highlight effective cost management and operational excellence. Despite a slight increase in nonperforming loans, the overall credit quality remains strong with low charge-offs. The bank is well-positioned for continued success in 2025.Company Guidance
During the Fourth Quarter 2024 earnings call for Third Coast Bancshares, key metrics highlighted included a net interest income of $43.4 million, marking a 7.6% increase from the previous quarter and a 16.4% rise from the same period last year. Loan growth was reported at $76.6 million, or a 2% increase for the quarter, contributing to an annual growth of $327.6 million, equating to 9%. Deposits grew by $316 million in the fourth quarter, representing a 7.9% increase, with an annual rise of $507.4 million or 13.3%. The company achieved an improved efficiency ratio of 58.8%, surpassing their internal target of below 60% for the second consecutive quarter. Additionally, net income for the year reached $47.7 million, translating to $3.14 per basic share and $2.78 per diluted share, a 42.7% increase from the previous year. Nonperforming loans rose to 0.7%, but the company maintained a solid credit quality with net charge-offs at 0.09% of average loans. The strategic focus for 2025 includes sustaining loan growth of $50 to $100 million per quarter and maintaining a return on average assets target of 1% or better.Net Interest Income Growth
Achieved 14 consecutive positive quarters of net interest income growth, reaching $43.4 million in Q4 2024, a 7.6% increase from Q3 2024 and a 16.4% increase year-over-year.
Strong Loan and Deposit Growth
Fourth quarter loan growth rose by $76.6 million (2%) and deposits increased by $316 million (7.9%). Full-year loan growth was $327.6 million (9%) and deposit growth was $507.4 million (13.3%).
Efficiency Ratio Improvement
Improved the efficiency ratio to 58.8% in Q4 2024, marking the second consecutive quarter of exceeding the internal target of below 60%.
Net Income Increase
Net income for 2024 reached $47.7 million, marking a 42.7% increase from the previous year's total of $33.4 million.
Investment in Securities
Significant growth in investment securities by $91.9 million, with yields on purchased securities averaging 5.44% and total portfolio yield at 6.31%.
Low Charge-offs
Net charge-offs were $879,000 for Q4 2024 or 0.09% of average loans, compared to $1.5 million or 0.17% of average loans in Q4 2023.
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TCBX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TCBX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 22, 2025 | $33.36 | $35.08 | +5.16% |
| Oct 23, 2024 | $27.67 | $29.27 | +5.78% |
| Jul 24, 2024 | $24.64 | $25.08 | +1.79% |
| Apr 24, 2024 | $19.73 | $19.51 | -1.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Third Coast Bancshares (TCBX) report earnings?
Third Coast Bancshares (TCBX) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Third Coast Bancshares (TCBX) earnings time?
Third Coast Bancshares (TCBX) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TCBX EPS forecast?
TCBX EPS forecast for the fiscal quarter 2025 (Q1) is 0.7.
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