Third Coast Bancshares agrees to buy Great Plains Bancshares in stock deal
TCBX•Third Coast Bancshares agreed to acquire Great Plains Bancshares in a two-step merger, with Great Plains shareholders set to receive Third Coast common stock based on 5,570,352 shares issued in total.
1. Deal terms
The merger consideration may be reduced if Great Plains has less than $153.3 million in capital, surplus and retained earnings, less intangibles, at closing. Great Plains may owe an $11.98 million termination fee under certain breakup scenarios. Third Coast plans to add Great Plains directors Todd Taylor and Paul M. Dickinson to its board.
