Third Coast sells commercial capital unit for $27.5 million
- Third Coast Bancshares completed the sale of substantially all assets of Third Coast Commercial Capital to Gulf Coast Bank & Trust.
- The transaction generated approximately $27.5 million in proceeds and a $3.5 million gain.
- Third Coast said it will continue offering factoring solutions through a strategic partnership with Gulf Coast.
Third Coast Bancshares (NYSE:TCBX) completed the sale of substantially all assets of its subsidiary Third Coast Commercial Capital to Gulf Coast Bank & Trust for approximately $27.5 million, generating a $3.5 million gain.
The transaction, which closed effective June 25, 2026, allows Third Coast to continue providing factoring solutions through a strategic partnership while focusing on its commercial banking and specialty lending operations.
Under the agreement, Third Coast will maintain access to factoring services through the partnership with Gulf Coast while redirecting resources toward asset-based lending and other specialty lending platforms.
The company said the transaction includes a structured ongoing revenue share arrangement.
Third Coast Bancshares operates as a financial services company focused on commercial banking, lending and related financial solutions through its banking subsidiaries.
The company said the asset sale aligns with its strategy of concentrating on core banking activities while maintaining customer access to factoring products.
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