Third Coast Bancshares, Inc. (NYSE: TCBX) has entered into a definitive agreement to acquire Great Plains Bancshares, Inc. in an all-stock transaction valued at approximately $239.6 million. The deal, announced on October 7, 2026, is expected to combine the two bank holding companies to create an entity with total assets exceeding $9 billion.
Under the terms of the agreement, Thunder Merger Sub, Inc., a wholly owned subsidiary of Third Coast, will merge with Great Plains. Great Plains shareholders will receive shares of Third Coast common stock in exchange for their shares. Following the merger, Great Plains will merge into Third Coast, and Great Plains National Bank will merge into Third Coast Bank. Great Plains will continue to operate under the Great Plains brand as a division of Third Coast Bank.
Third Coast expects to issue 5,570,352 shares of its common stock as consideration for the acquisition. This issuance will result in Third Coast shareholders owning approximately 78% of the combined company, with Great Plains shareholders owning approximately 22%. Two representatives from Great Plains will be appointed to the boards of directors of Third Coast and Third Coast Bank, and Mark Russell, CEO of Great Plains, will remain in a leadership role following the closing.
Great Plains Bancshares, headquartered in Oklahoma City, Oklahoma, operates a 23-branch franchise across Oklahoma and Texas. As of June 30, 2026, the company reported approximately $1.9 billion in total assets, $1.7 billion in gross loans, and $1.7 billion in total deposits. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the first quarter of 2027, subject to customary regulatory approvals and the approval of Great Plains shareholders.
