Houston, TX – Third Coast Bancshares, the parent company of Third Coast Bank, has announced plans to acquire Great Plains National Bank in a stock-based merger that will expand the Texas-based banking company's operations into Oklahoma.
Under the agreement, Great Plains will continue operating as Great Plains Bank, a division of Third Coast Bank, allowing the bank to maintain its local identity and community banking relationships.
Great Plains National Bank operates 23 branches, including locations in Elk City, Sayre, Weatherford, Cordell, Hobart, Taloga, Mangum, Hollis and Woodward. The merger will expand Third Coast's geographic footprint across Oklahoma while strengthening its presence in the Dallas market.
Great Plains reported approximately $1.9 billion in assets as of June.
Third Coast CEO Bart Caraway and Great Plains CEO Mark Russell are leading the organizations through the proposed merger, which is intended to combine the resources and banking capabilities of both institutions.
The acquisition is expected to provide Great Plains with access to additional financial resources and services while preserving its emphasis on local customer relationships and community banking.
For Third Coast, the merger represents an opportunity to expand into new markets, strengthen its customer base and increase its banking capabilities across Oklahoma and Texas.
A closing date for the transaction has not been announced. The merger remains subject to applicable regulatory approvals and other closing conditions.
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