On October 7, Third Coast Bancshares Inc., the parent company of Humble-based Third Coast Bank, and Great Plains Bancshares Inc., the parent company of Oklahoma City, Oklahoma-based Great Plains National Bank, announced the signing of a definitive merger agreement pursuant to which Third Coast will acquire Great Plains in an all-stock transaction valued at approximately $239.6 million based on Third Coast’s closing stock price as of October 6. On a pro forma basis, the combined company is expected to have approximately $9 billion in assets following the completion of the transaction. The transaction is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals and other customary closing conditions.
Under the agreement, Great Plains will merge into Third Coast, and Great Plains National Bank will merge into Third Coast Bank. Great Plains will continue operating under the Great Plains brand as Great Plains Bank, a division of Third Coast Bank. Mark Russell, Great Plains National Bank CEO, has agreed to continue serving in a leadership role following the closing. The deal will expand Third Coast Bank’s Dallas presence and establish its entry into the Oklahoma market. Great Plains Bank has served its markets for more than 100 years and operates a 23-branch franchise across Oklahoma and Texas.
“We are thrilled to join forces with Great Plains, an exceptional franchise rooted in relationships across Oklahoma and North Texas, a talented team and a well-earned reputation for doing right by its customers,” says Bart Caraway, founder, chairman, president and chief executive officer of Third Coast.
Third Coast’s financial advisor was Keefe, Bruyette & Woods, A Stifel Company; its legal advisor was Norton Rose Fulbright US LLP. Great Plains’ financial advisor was Stephens Inc.; its legal advisor was Fenimore Kay Harrison LLP.
Established in 2008, Third Coast Bank has 20 banking offices in the Greater Houston, Dallas/Fort Worth and Austin/San Antonio markets. Established in 1907, Great Plains National Bank operates in Oklahoma and Texas.
