TC Bancshares, Inc. (TCBC) | Investment Case

1. Company Snapshot

1.a. Company Description

TC Bancshares, Inc.operates as the holding company for TC Federal Bank that provides various banking services for individual and commercial customers in the United States.It accepts various deposit products, including personal checking accounts, business checking accounts, savings accounts, money market accounts, and certificates of deposit.

The company also offers lending products comprising single-family residential loans, home equity lines of credit, closed-end home equity loans, consumer loans, commercial and multi-family residential real estate loans, commercial and industrial loans, construction loans, land development loans, and SBA/USDA guaranteed loans.It operates one branch in Thomasville, Georgia, and one in Tallahassee, Florida, as well as loan production offices in Tallahassee, Florida and Savannah, Georgia.The company was founded in 1934 and is based in Thomasville, Georgia.

Show Full description

1.b. Last Insights on TCBC

TC Bancshares' recent performance was driven by the proposed sale to Colony Bankcorp, Inc., which offers shareholders a choice between $21.25 in cash or 1.25 shares of Colony's common stock. This deal has prompted an investigation by Kahn Swick & Foti, LLC into the adequacy of price and process. The transaction is expected to bring significant value to shareholders. With a proposed sale price of $21.25, shareholders may benefit from a premium on their investment. The deal is subject to certain conditions.

1.c. Company Highlights

Last Price	21.65
Change Percentage	1.31%
Open	21.65
Previous Close	21.65
Market Cap ( Millions)	90
Volume	4655
Year High	24.5
Year Low	14.87
M A 50	20.46
M A 200	17.78

FCF Yield	0.00%
Dividend Yield	0.46%
ROE	3.75%
Debt / Equity	15.98%
Net Debt / EBIDTA	-230.98%
Price To Book	1.15
Price Earnings Ratio	30.3
Price To FCF	0
Price To sales	2.98
EV / EBITDA	21.78

2. Transcript Summary

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3. NewsRoom

TC BANCSHARES INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of TC Bancshares, Inc. - TCBC

Sep -26

Source: businesswire.com

KBRA Comments on Colony Bankcorp, Inc.'s Proposed Acquisition of TC Bancshares, Inc.

Jul -25

Source: businesswire.com

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of TC Bancshares, Inc. (OTCMKTS: TCBC)

Jul -24

Source: globenewswire.com

Colony Bankcorp, Inc. and TC Bancshares, Inc. Announce Signing of Definitive Merger Agreement to Create a Stronger Franchise in Key Georgia and Florida Markets

Jul -23

Source: businesswire.com

PLAYA HOTELS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Playa Hotels & Resorts N.V. - PLYA

Mar -05

Source: businesswire.com

TC Bancshares, Inc. Announces Adoption of Repurchase Plan

Feb -12

Source: accessnewswire.com

TC Bancshares: A New Small-Cap Bank With Strong Exposure To Residential Real Estate

Sep -24

Source: Seeking Alpha

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Banking and Related Activities

Expected Growth: 4.5%

Growing demand for digital banking services, increasing adoption of online payment systems, and expansion of credit facilities to underserved markets drive TC Bancshares' growth.

7. Detailed Products

Commercial Banking

TC Bancshares, Inc. offers a range of commercial banking services, including cash management, treasury management, and commercial lending, to help businesses manage their finances and achieve their goals.

Consumer Banking

TC Bancshares, Inc. provides consumer banking services, including checking and savings accounts, credit cards, and personal loans, to help individuals manage their finances and achieve their personal goals.

Wealth Management

TC Bancshares, Inc. offers wealth management services, including investment management, trust services, and financial planning, to help individuals and families achieve their long-term financial goals.

Mortgage Banking

TC Bancshares, Inc. provides mortgage banking services, including residential and commercial mortgage lending, to help individuals and businesses achieve their real estate goals.

Treasury Management

TC Bancshares, Inc. offers treasury management services, including cash management, foreign exchange, and trade finance, to help businesses manage their cash flow and optimize their financial performance.

8. TC Bancshares, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for TC Bancshares, Inc. is medium due to the presence of alternative financial institutions and digital payment systems.

Bargaining Power Of Customers

The bargaining power of customers is low due to the lack of concentration of buyers and the high switching costs.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the moderate concentration of suppliers and the availability of alternative suppliers.

Threat Of New Entrants

The threat of new entrants is high due to the low barriers to entry and the attractiveness of the financial services industry.

Intensity Of Rivalry

The intensity of rivalry is high due to the high level of competition among existing players and the high stakes of competition.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	12.40%
Debt Cost	3.95%
Equity Weight	87.60%
Equity Cost	4.26%
WACC	4.22%
Leverage	14.16%

11. Quality Control: TC Bancshares, Inc. passed 4 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Waterstone Financial

A-Score: 6.4/10

Value: 6.3

Growth: 4.6

Quality: 4.1

Yield: 9.0

Momentum: 6.0

Volatility: 8.7

1-Year Total Return ->

NSTS Bancorp

A-Score: 5.8/10

Value: 7.7

Growth: 5.7

Quality: 4.1

Yield: 0.0

Momentum: 7.5

Volatility: 9.7

1-Year Total Return ->

TC Bancshares

A-Score: 5.7/10

Value: 5.5

Growth: 6.3

Quality: 5.6

Yield: 0.0

Momentum: 9.0

Volatility: 8.0

1-Year Total Return ->

Equity Bancshares

A-Score: 5.5/10

Value: 6.1

Growth: 6.6

Quality: 5.8

Yield: 3.0

Momentum: 4.0

Volatility: 7.3

1-Year Total Return ->

MidWestOne Financial Group

A-Score: 5.1/10

Value: 6.0

Growth: 2.1

Quality: 7.0

Yield: 7.0

Momentum: 5.0

Volatility: 3.7

1-Year Total Return ->

Live Oak Bancshares

A-Score: 4.6/10

Value: 6.0

Growth: 8.3

Quality: 6.2

Yield: 0.0

Momentum: 2.0

Volatility: 5.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

6.64%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

4.22%

TC Bancshares, Inc. - US87224V1089

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on TCBC

1.c. Company Highlights

Weak Momentum

Lower Quality

Average Growth

Cheaper

Less Volatile

Lower Yield

Average Quality

Medium Volatility

Strong Momentum

Expensive

Fairly Valued

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Banking and Related Activities

Expected Growth: 4.5%

7. Detailed Products

Commercial Banking

Consumer Banking

Wealth Management

Mortgage Banking

Treasury Management

8. TC Bancshares, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: TC Bancshares, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

21.65$

Current Price

21.65$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA