Dive brief:
- Houston, Texas-based Third Coast Bancshares will buy Oklahoma City-based Great Plains Bancshares and its subsidiary, Great Plains National Bank, for roughly $239.6 million in stock.
- At closing, the combined company will have about $9 billion in assets and 43 branches.
- The deal is expected to close in the first quarter of 2027.
Dive insight:
In June, Great Plains National Bank reported $1.9 billion in assets, $1.7 billion in loans and $1.7 billion in total deposits. The centenarian bank’s 23 branches span Oklahoma and Texas.
A Third Coast-Great Plains tie-up would bring Third Coast into Oklahoma and also deeper into the growing Dallas market, where Great Plains entered in 2018 through its acquisition of Liberty Federal Savings Bank, according to the Dallas Business Journal.
“Together, we are creating a stronger organization with greater scale, expanded capabilities, and increased capacity to support our customers,” said Bart Caraway, founder and CEO of Third Coast, in a prepared statement on the merger. “This combination will strengthen our ability to serve businesses and communities across our markets while creating long-term value for all stakeholders.”…