TCBXHIGH SIGNALOPERATIONAL10-K

TCBX completed a major merger with Keystone on February 1, 2026, significantly expanding operations and driving substantial growth across key financial metrics.

The successful merger represents a transformative corporate event that materially expanded TCBX's footprint from 18 to 22 branches and substantially increased the company's scale. The integration appears to be proceeding smoothly based on the strong financial performance metrics, positioning TCBX as a larger, more diversified regional banking operation with enhanced market presence across Texas.

Comparing 2026-03-04 vs 2025-03-05View on EDGAR →
FINANCIAL ANALYSIS

The merger drove impressive growth with total assets increasing 8.1% to $5.34 billion, loans growing 10.6% to $4.39 billion, and deposits expanding 7.4% to $4.63 billion, while net income surged 39.1% to $66.3 million despite interest expenses rising 272.3% due to the enlarged balance sheet. The significant 52.8% decline in cash reserves from $371.2M to $175.2M likely reflects merger-related cash deployment and integration costs, though this is partially offset by strong 44.7% growth in operating cash flow to $50.8 million. Overall, the financial picture indicates successful execution of an accretive acquisition that meaningfully expanded TCBX's scale and profitability.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
+272.3%
$34.1M→$127.0M

Interest expense surged 272.3% — significant debt increase or rising rates materially impacting earnings.

Cash & Equivalents
Balance Sheet
-52.8%
$371.2M→$175.2M

Cash declined 52.8% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Capital Expenditure
Cash Flow
-48.6%
$3.4M→$1.8M

Capex reduced 48.6% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Operating Cash Flow
Cash Flow
+44.7%
$35.1M→$50.8M

Operating cash flow surged 44.7% — exceptional cash generation, highest quality earnings signal.

Net Income
P&L
+39.1%
$47.7M→$66.3M

Net income grew 39.1% — bottom-line growth signals improving overall business health.

Provision for Credit Losses
P&L
+22.9%
$9.9M→$12.2M

Loss provisions increased 22.9% — building reserves against anticipated credit deterioration.

Stockholders Equity
Balance Sheet
+15.3%
$460.7M→$531.0M

Equity base grew 15.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-03-04
PRIOR — 2025-03-05
ADDED
Following the completion of our merger with Keystone discussed below, we currently operate twenty branches in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, one branch in Ballinger, Texas, and one branch in Detroit, Texas.
As of December 31, 2025, we had, on a consolidated basis, total assets of $5.34 billion, total loans of $4.39 billion, total deposits of $4.63 billion and total shareholders' equity of $531.0 million.
On February 1, 2026, we completed our merger with Keystone, the parent company of Keystone Bank, SSB ( Keystone Bank ), a Texas state savings bank, pursuant to the terms of the Agreement and Plan of Reorganization, dated as of October 22, 2025, by and among the Company, Arch Merger Sub, Inc.
( Merger Sub ), a Texas corporation and a wholly owned subsidiary of the Company, and Keystone (the Merger Agreement ).
Pursuant to the Merger Agreement, on February 1, 2026, Merger Sub merged with and into Keystone (the Merger ), with Keystone surviving as a wholly owned subsidiary of the Company.
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REMOVED
We currently operate eighteen branches in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, and one branch in Detroit, Texas.
As of December 31, 2024, we had, on a consolidated basis, total assets of $4.94 billion, total loans of $3.97 billion, total deposits of $4.31 billion and total shareholders' equity of $460.7 million.
We also have five branches in the Austin-San Antonio market, with one location in Austin, one in Georgetown, one in La Vernia, one in Nixon, and one in San Antonio.
In addition, we have one branch in Detroit, Texas, located approximately 120 miles northeast of Dallas, Texas.
As of December 31, 2024, our legal lending limit was $136.2 million, and our largest relationship was $67.0 million.
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