HOUSTON, Sept. 16,
2024 /PRNewswire/ -- Third Coast Bank (the "Bank,"
"Third Coast," "we," "us," or "our"), a wholly owned subsidiary of
Third Coast Bancshares, Inc. (NASDAQ: TCBX), is pleased to announce
today the successful completion of a New Syndicated Senior Credit
Facility led by the Bank's Corporate Banking team.
Surpassing the initial $50 million
fundraising goal, strong interest from potential lenders led to
oversubscription, increasing the senior credit facility to
$60 million for Syntrio Solutions
LLC. Syntrio specializes in delivering exceptional high-speed
internet and advanced technology services to underserved
communities and new markets across North
Texas and Southern
Oklahoma.
Kirk Petty, CEO of Syntrio
Solutions, conveyed his appreciation for the deal, remarking, "We
are grateful for Third Coast Bank's trust in our vision. This
funding will empower us to implement our plans and create a
tangible impact on individuals and businesses. We look forward to a
successful collaboration and the positive impact it will
bring."
The partnership marks a significant milestone for both Third
Coast and Syntrio, as they aim to bridge the digital divide in
underserved regions. The allocated funds will support Syntrio's
fiber deployment, ensuring high-speed internet access to
communities that have long been overlooked by major service
providers.
"We are thrilled to support Syntrio Solutions in their mission
to deliver fast and reliable internet services to rural areas,"
said Elizabeth Falco, Executive Vice
President of Corporate Banking at Third Coast Bank. "This
investment not only aligns with our commitment to community
development but also spurs economic growth and opportunities for
the businesses and residents in the surrounding areas by bringing
them essential services reliant on high-speed internet," Falco
concluded.
Third Coast remains committed to investing in digital
infrastructure that enhances communities by facilitating global
market access, boosting business efficiency, providing educational
resources, linking to healthcare services, expanding job prospects,
and delivering real-time information in critical situations.
About Syntrio
Syntrio is part of the fabric of North
Texas and Southern Oklahoma
communities, connecting businesses and households to the rest of
the world. At Syntrio, we act as a pillar in the communities we
serve, providing dependable internet services that empower
residents and businesses. Our mission remains to break down
technological barriers and offer our customers the support and
service they deserve. For more information, please visit
https://syntrio.net.
About Third Coast Bank
Third Coast Bancshares, Inc. (NASDAQ: TCBX) is a commercially
focused, Texas-based bank holding
company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly
owned subsidiary, Third Coast Bank. Founded in 2008 in Humble, Texas, Third Coast Bank conducts
banking operations through 19 branches encompassing the four
largest metropolitan areas in Texas. Please visit
https://www.thirdcoast.bank for more information.
Contact:
Ken Dennard / Natalie Hairston
Dennard Lascar Investor Relations
(713) 529-6600
TCBX@dennardlascar.com
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SOURCE Third Coast Bancshares