Third Coast Bancshares’ proposed acquisition of Great Plains Bancshares would bring the Texas-based bank into Oklahoma and expand its Dallas-area footprint. The all-stock transaction is valued at about $239.6 million; the companies expect the combined bank to have roughly $9 billion in assets, $7.3 billion in loans and $7.8 billion in deposits. The deal is expected to close in the first quarter of 2027, subject to approvals and other conditions, according to the merger announcement.
A second step into Dallas
The proposed combination builds on Great Plains’ own earlier expansion into Dallas: the bank entered that market in 2018 by acquiring Liberty Federal Savings Bank, Banking Dive reported, citing the Dallas Business Journal. That prior move was Great Plains’ expansion, distinct from Third Coast’s proposed acquisition of the company.
Great Plains, headquartered in Oklahoma City, operates 23 branches in Oklahoma and Texas. Third Coast, based in Humble, Texas, has 20 branches across Houston, Dallas-Fort Worth, Austin and San Antonio, with most in South Texas, according to American Banker. The acquisition would give Third Coast its first Oklahoma branches.
The merger announcement says Third Coast shareholders are expected to own about 78% of the combined company and Great Plains shareholders about 22%. Great Plains Bank is expected to retain its brand as a division of Third Coast Bank. Great Plains CEO Mark Russell is expected to remain in a leadership role, and two Great Plains representatives are to join the boards of both companies, according to the announcement.
What the market data can—and cannot—show
The FDIC’s Summary of Deposits reports deposits at individual bank offices and allows users to create market-share reports for areas including metropolitan statistical areas, according to the agency. The information cited here does not include Dallas-area deposit shares, so it cannot establish the market’s concentration or quantify the largest banks’ shares.
A broader community-bank deal cycle
Third Coast’s proposed purchase follows its acquisition of Austin-based Keystone Bancshares for about $123 million, which closed in February, according to Banking Dive. The company’s latest deal is also part of a broader pattern of community-bank consolidation, though industry totals alone do not explain the rationale for this transaction…