TCBX completes Keystone merger, adding $1.7B in assets as margin compresses 13bp

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~1 min read

Key Changes

• high

  Keystone merger closed Feb 1, 2026, adding two branches and driving 34% asset growth to $6.58B, 32% loan growth to $5.25B, and 35% deposit growth to $5.72B. Net interest income rose 25% but margin compressed 13bp to 3.67% on lower loan yields and a $1M nonaccrual reversal.

  MD&A: Keystone merger completion verify on EDGAR →
• high

  Noninterest expense jumped $10M (36%) in Q1 2026, driven by merger integration: salaries/benefits up $6.5M (35%) as headcount grew from 376 to 463, and legal/professional fees up $1.8M (125%).

  MD&A: Noninterest expense verify on EDGAR →
• medium

  Effective tax rate fell to 13.8% from 21.7% as the company utilized purchased federal income tax credits, reducing tax expense by $1.1M despite higher pre-tax income.

  MD&A: Effective tax rate verify on EDGAR →