TL;DR
Get smart everyday buys delivered free with Prime
- Fast, free delivery on millions of items
- Prime Video, Amazon Music and more included
- Member-only deals all year
Third Coast Bancshares has agreed to acquire Great Plains Bancshares for approximately $239.6 million in stock. The deal would give the Houston-based bank a presence in Oklahoma and increase its reach in Dallas; closing is expected in the first quarter of 2027.
Third Coast Bancshares has agreed to buy Oklahoma City-based Great Plains Bancshares for approximately $239.6 million in stock, a transaction that would expand the Houston-based bank into Oklahoma and add to its reach in the Dallas market. The companies expect the deal to close in the first quarter of 2027; financial and regulatory closing conditions remain ahead.
Under the agreement, Great Plains shareholders will receive shares of Third Coast common stock in exchange for their shares. The transaction is structured as a merger: Third Coast subsidiary Thunder Merger Sub will merge into Great Plains, after which Great Plains will merge into Third Coast. Great Plains National Bank is also set to merge into Third Coast Bank.
After the transaction, the acquired bank is expected to continue operating as Great Plains Bank, a division of Third Coast Bank. Great Plains CEO Mark Russell will remain in a leadership role, and two Great Plains representatives will join the boards of directors of Third Coast Bancshares and Third Coast Bank, according to the announcement.
The combined company is expected to have approximately $9 billion in assets and 43 branches at closing. Pro forma ownership is expected to be about 78% for current Third Coast shareholders and 22% for Great Plains shareholders. These are projected figures based on the proposed combination, not a report of the companies’ current combined operations.
Third Coast’s Oklahoma and Dallas Reach
The acquisition would extend Third Coast’s footprint beyond Texas into Oklahoma while giving it a larger presence in the Dallas area. Great Plains has 23 branches across Oklahoma and Texas, according to the report, providing Third Coast with an established network rather than a new-market entry built branch by branch.
Scale is another practical consequence. The expected $9 billion in assets and 43 branches would give the combined organization a larger base from which to serve customers across its markets. The companies describe the deal as a way to expand capabilities and capacity, though the announcement does not specify which products, services, or customer offerings would change after closing.
For customers and communities, the stated plan to retain the Great Plains Bank name as a division and keep Russell in a leadership role suggests continuity in the near term. The announcement also provides for Great Plains representatives on both boards. Those arrangements indicate a role for the acquired bank’s leadership, but do not establish how branch operations, staffing, or local decision-making may evolve over time.
As an affiliate, we earn on qualifying purchases.
Recent Deals and Great Plains’ Footprint
The transaction follows Third Coast’s acquisition of Keystone Bancshares, an Austin-based company it agreed to buy for $123 million. That deal closed in February, according to Banking Dive, and strengthened Third Coast’s position in the Austin market. The new agreement would add a further Texas-and-Oklahoma expansion roughly a year after the Keystone announcement.
Great Plains National Bank reported $1.9 billion in assets, $1.7 billion in loans and $1.7 billion in total deposits in June, according to the source report. These figures describe the bank at that reporting point and should not be confused with the combined company’s projected assets after the acquisition.
Great Plains’ 23 branches span Oklahoma and Texas. Its entry into the Dallas market dates to 2018, when it acquired Liberty Federal Savings Bank, the Dallas Business Journal reported, as cited by Banking Dive. The acquisition would combine that established regional footprint with Third Coast’s existing Texas operations.
“Together, we are creating a stronger organization with greater scale, expanded capabilities, and increased capacity to support our customers.”
— Bart Caraway, founder and CEO of Third Coast Bancshares
As an affiliate, we earn on qualifying purchases.
Approval and Integration Details Pending
The deal is an agreement, not a completed acquisition. The companies expect a first-quarter 2027 closing, but the source report does not detail the required regulatory approvals, other closing conditions, or whether any could affect the timetable. The final closing date is not specified.
Other operational questions remain unanswered in the available announcement. It does not say whether branches will close, whether staffing will change, or how products and systems will be integrated. Nor does it provide a detailed financial forecast for the combined company or quantify expected cost savings and revenue gains. The projected asset and branch totals, ownership split, and transaction value are based on the proposed deal and may depend on conditions before closing.
financial services marketing materials
As an affiliate, we earn on qualifying purchases.
As an affiliate, we earn on qualifying purchases.
Closing Expected in Early 2027
The next major milestone is completion of the merger, which the companies expect in the first quarter of 2027. Before then, the transaction must proceed through its required closing process; the source report does not list specific approval dates or intervening milestones.
If the acquisition closes as planned, Great Plains National Bank will merge into Third Coast Bank, while the Great Plains brand is set to remain as a division. Russell is expected to continue in a leadership role, and two Great Plains representatives are slated to join the boards. Further details about the combined bank’s operations and customer arrangements have not been provided in the material available.
As an affiliate, we earn on qualifying purchases.
Key Questions
How much is Third Coast paying for Great Plains?
Third Coast agreed to acquire Great Plains Bancshares for approximately $239.6 million in stock. Great Plains shareholders are to receive Third Coast common shares in exchange for their shares.
When is the acquisition expected to close?
The companies expect the deal to close in the first quarter of 2027. It has not yet closed, and the source report does not specify a final date or detail all closing conditions.
What will the combined bank look like?
At closing, the combined company is projected to have about $9 billion in assets and 43 branches. Great Plains Bank is expected to continue operating as a division of Third Coast Bank.
Will Great Plains’ leadership remain involved?
Great Plains CEO Mark Russell is expected to continue in a leadership role. Two Great Plains representatives are also slated to join the boards of Third Coast Bancshares and Third Coast Bank.
What is still unknown about the deal?
The available report does not specify branch or staffing changes, how systems and products will be integrated, or the full set of regulatory and other closing conditions. Those details may emerge before or after the expected closing.
Source: rss
Fall Picks
fall essentials
As an affiliate, we earn on qualifying purchases.
