Third Coast Bancshares to Acquire Great Plains in $239.6 Million Deal

The strategic move unites two regionally focused institutions with deep ties to their respective markets. For Third Coast, the acquisition provides a long-sought entry into the Oklahoma banking sector and bolsters its existing presence in Dallas. Great Plains, which has operated for over a century, will continue to function under its current brand as a division of Third Coast Bank. Following the integration, Great Plains National Bank will merge into the parent bank, with two representatives from the Oklahoma firm joining the boards of directors at Third Coast.

Bart Caraway, CEO of Third Coast, noted that the partnership aims to leverage shared cultural values and a focus on relationship-driven banking to scale operations. Mark Russell, CEO of Great Plains National Bank, echoed this sentiment, emphasizing that the merger creates a path for continued community growth. Under the agreed terms, Third Coast shareholders will hold roughly 78% of the combined equity, while Great Plains shareholders will account for the remaining 22%. The transaction remains subject to regulatory approvals and the endorsement of shareholders from both companies.