Third Coast in Texas raises $101 million from IPO

Third Coast Bancshares in Humble, Texas, has raised $100.6 million from its initial public offering. 

The $2 billion-asset company said in a press release Wednesday that it sold more than 4 million shares, including an overallotment of 525,000 shares, as part of the IPO. The shares were sold at $25 a share.

The company said in October that net proceeds could be used to support organic growth and other purposes that could include maintaining required capital levels and acquisitions. 

Stephens, Piper Sandler and Deutsche Bank Securities were the joint book-running managers.