TC Bancshares, Inc. (TCBC): Business Model Canvas [Dec-2025 Updated]

You're diving into the final strategic snapshot of TC Bancshares, Inc. (TCBC) right before it merges with Colony Bankcorp, Inc. for $86.1 million, a deal closing late in 2025. Honestly, this is a classic community bank story: they focused on deep, personal relationships in North Florida and South Georgia, using their $571.41 million in Total Assets (TTM June 2025) to drive lending, which resulted in $16.06 million in Net Interest Income. Before the integration changes everything, let's break down exactly how this small team of 66 built its value proposition-from local real estate expertise to its cost structure-so you can see the blueprint of a regional bank just before a major transition. It's defintely worth seeing how they balanced that personalized service against the scale of the coming change.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Key Partnerships

You're looking at the key external relationships that underpinned TC Bancshares, Inc.'s operations leading up to the late 2025 acquisition. These partnerships were critical for scale, funding, and shareholder administration.

The most significant partnership event was the definitive merger agreement with Colony Bankcorp, Inc. (CBAN), announced July 23, 2025, valued at approximately $86.1 million.

The consideration for TC Bancshares, Inc. shareholders involved an election structure:

• Cash consideration: $21.25 per share.
• Stock consideration: 1.25 shares of Colony common stock per share.
• Allocation: Approximately 20% of stock converted to cash, and the remaining 80% converted to Colony common stock.

This combination was projected to generate cost savings of $5.6 million, representing 33.4% of TCBC's non-interest expense. Should the transaction have terminated, TC Bancshares, Inc. faced a termination fee of $3.44 million to Colony Bankcorp.

The merger, effective December 1, 2025, resulted in a combined entity with approximately $3.7 billion in total assets, $3.0 billion in total deposits, and $2.4 billion in total loans.

For shareholder services, the relationship with Pacific Stock Transfer as the transfer agent managed the mechanics of shareholder records.

The business relied on funding sources, though specific 2025 FHLB borrowing data for TC Bancshares, Inc. is not explicitly available; however, TC Federal Bank, the subsidiary, was chartered by the Federal Home Loan Bank Board. The scale of the lending operation, which involves developers and brokers, is indicated by TC Federal Bank's reported asset size, which was $540 million prior to the merger.

For shareholder value maintenance, TC Bancshares, Inc. declared a semi-annual cash dividend of $0.05 per share in June 2025.

Here's a quick look at the key financial metrics surrounding the major partnership event:

The core banking system providers are essential for technology infrastructure, but specific vendor contracts or associated financial figures aren't publically detailed in the same way as the merger terms.

Finance: draft pro-forma combined balance sheet impact by end of week.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Key Activities

You're looking at the final operational snapshot of TC Bancshares, Inc. (TCBC) as a standalone entity, which concluded with its merger closing on December 1, 2025. The key activities reflect the final push of the bank's core business while simultaneously managing the transition into the acquiring entity.

Core lending: originating commercial and residential real estate loans

The core activity involved managing and originating loans, which historically included single-family residential mortgage loans, commercial and multi-family residential real estate loans, commercial and industrial loans, construction loans, land development loans, and SBA/USDA guaranteed loans through TC Federal Bank.

The final combined loan portfolio size, immediately following the merger completion on December 1, 2025, stood at approximately $2.4 billion.

Deposit gathering to fund lending activities and manage liquidity

Deposit gathering was a critical activity, focusing on funding the loan book. Products gathered included personal checking accounts, business checking accounts, savings accounts, money market accounts, and certificates of deposit.

The combined entity achieved total deposits of approximately $3.0 billion as of the merger close date.

Here's a quick look at the scale of the combined entity's balance sheet post-merger:

Managing regulatory compliance and reporting as a financial holding company

Managing compliance was a constant activity, disproportionately affecting smaller institutions like TC Federal Bank, which was a $516 million dollar community bank as of February 2025. This activity involves adhering to regulations from the OCC and the Federal Reserve Board.

Industry data for late 2025 suggests the cost of this activity varies significantly by size:

• Banks with less than $100 million in assets spend around 8.7% of non-interest expenses on compliance duties.
• Banks with between $1 billion and $10 billion in assets report compliance costs of 2.9% of non-interest expenses.

Executing the final stages of the merger and integration planning

This activity dominated late 2025, culminating in the merger closing on December 1, 2025. The transaction valued TC Bancshares, Inc. at approximately $86.1 million.

Key elements of the final stages included:

• Shareholder elections for consideration: shareholders received either $21.25 in cash or 1.25 shares of Colony common stock per share.
• The allocation target for cash consideration was approximately 20% of TC Bancshares shares.
• The allocation target for stock consideration was the remaining 80%.

Integration planning involved ensuring customers of TC Federal Bank would continue using existing platforms until the core systems conversion, which was expected in early 2026.

Finance: draft pro-forma 13-week cash view incorporating merger adjustments by Friday.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Key Resources

When you look at the Key Resources for TC Bancshares, Inc. (TCBC), you're looking at the core assets that make their community bank model work. These aren't just line items; they are the tangible and human capital that drive their operations across North Florida and South Georgia.

Financially, the scale of the operation as of the middle of 2025 is significant for a regional player. Here's the quick math on their balance sheet strength:

That total asset figure of $571.41 million as of TTM June 2025 shows a clear growth trajectory from prior years, which is exactly what you want to see in a community bank focused on local lending.

The human element is just as critical. TC Bancshares, Inc. relies on its local expertise. You can't replicate the relationships built over years by a small, dedicated team. The prompt specifies a team size, which is a key resource for relationship banking:

• Experienced local bankers.
• A small team of 66 employees.

This lean staffing model, focused on experienced personnel, suggests a high-touch service delivery model, which is a core part of their value proposition.

Next, consider the physical footprint. While digital is important, for a community bank, physical presence builds trust and facilitates complex lending decisions. Their network is strategically placed across their target markets:

This network of branches in key areas like Tallahassee and Jacksonville in Florida, plus Thomasville and Savannah in Georgia, anchors their service area. Still, modern banking requires more than just brick and mortar.

The technological backbone is the final piece of this resource puzzle. It allows the experienced bankers to operate efficiently:

• A robust digital banking platform supporting online and mobile access.
• Core processing technology supporting daily transactions.
• Services including treasury management and electronic services.

These digital capabilities help TC Bancshares, Inc. compete on convenience while maintaining their community focus. Finance: draft 13-week cash view by Friday.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Value Propositions

You're looking at the core promise TC Bancshares, Inc. (TCBC), through its bank TC Federal Bank, offered to its customers in North Florida and South Georgia communities right up until its December 2025 merger. The value proposition centered on being the local expert you could rely on.

Highly personalized, community-focused banking experience

This wasn't just a slogan; it was the operational reality for a bank serving the financial needs of citizens and businesses across North Florida and South Georgia communities. The bank's foundation, established as Thomas County Federal Savings and Loan Association in 1934, meant deep, long-term local relationships were the standard, not the exception. This local knowledge informed every decision, which is exactly what customers in a smaller market expect.

Expertise in local real estate and small business lending

TC Federal Bank's lending expertise was heavily weighted toward the local economy. They focused on underwriting loans where their local knowledge provided a distinct advantage in assessing risk, a critical factor when you consider the bank's net loans stood at over $409.09 million as of June 30, 2025. This expertise translated directly into the types of credit offered:

• Single-family residential mortgage loans
• Commercial and multi-family residential real estate loans
• Commercial and industrial loans
• Construction and land development loans
• SBA/USDA guaranteed loans

Here's a quick look at the financial scale supporting these lending activities for the Trailing Twelve Months (TTM) ending June 30, 2025:

The fact that Net Interest Income accounted for roughly 94% of total revenue shows how central the lending spread was to the value delivered.

Full suite of traditional deposit and lending products

The bank offered the full range of necessary tools for both personal and business finance, ensuring customers didn't need to go elsewhere for basic banking needs. Deposits, the primary source of funding, included:

• Personal checking accounts
• Business checking accounts
• Savings accounts
• Money market accounts
• Certificates of deposit (CDs)

On the service side, they supported these accounts with treasury management, merchant services, and electronic services, including ATM and wire transfer capabilities.

Stability and a long-standing Tradition of Trust since 1934

The legacy of the bank, tracing back to its founding in 1934, was a core intangible asset. This history provided a bedrock of trust, which was a key factor in the approximately $86.1 million valuation of the merger agreement signed in July 2025. The holding company, TC Bancshares, Inc., was formally established in 2021 to manage this legacy institution, which was still operating under the TC Federal Bank name until the merger closed on December 1, 2025.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for TC Bancshares, Inc. right at a major inflection point, given the merger with Colony Bankcorp, Inc. completed on December 1, 2025. This means the relationship strategy is currently in a transition phase, maintaining the existing TC Federal Bank service model while integrating into the larger Colony structure expected in early 2026.

Personal, relationship-based service model at branches

TC Federal Bank historically built its foundation on a premium banking experience rooted in highly personalized customer service and enriched customer relationships within its North Florida and South Georgia markets. This model emphasizes that employees know, own, and live by the company culture every day. As of the merger completion on December 1, 2025, customers continue to be served through their existing TC Federal Bank branches, websites, and digital banking platforms until the core systems and branding convert to Colony Bank, which is anticipated in early 2026. The scale of the combined entity now supporting these relationships includes approximately $3.0 billion in total deposits and $2.4 billion in total loans.

Dedicated loan officers for commercial and residential clients

The relationship focus extends to specialized support for lending clients. The model relies on dedicated loan officers to foster collaborative relationships with commercial and residential clients, ensuring customer-first decisions guide the process. This personalized approach supports the loan portfolio that, as part of the combined entity, stands at $2.4 billion post-merger. The commitment to this high-touch service is a core part of the TC Federal Bank legacy being integrated.

Automated self-service via mobile and online banking platforms

While the in-person service is emphasized, the infrastructure supports modern self-service. TC Federal Bank customers are currently using their existing digital banking platforms until the conversion. Nationally, the trend in 2025 shows a strong reliance on digital access; for instance, 42 percent of consumers prefer using a mobile banking app to manage their finances, and 36 percent prefer online banking via a website as their go-to method. This indicates that the existing digital channels for TC Federal Bank customers are critical touchpoints, even as the personal relationship model remains central.

The key relationship metrics and recent performance context are summarized below:

Community engagement through local programs and financial literacy

The bank's identity is tied to its role as a community bank. This commitment is articulated through local programs and involvement in financial literacy initiatives within the communities it serves. The cultural alignment noted during the merger process highlights a shared commitment to team members and the community banking mission. While specific 2025 spending or participation numbers for TC Federal Bank's individual programs aren't public, the strategic intent is to deepen service across the expanded key Georgia and Florida markets under the new combined organization.

Key elements supporting the relationship strategy include:

• Maintaining existing branch operations until early 2026 conversion.
• Focusing on customer-first decisions as a core value.
• Serving citizens and businesses in North Florida and South Georgia.
• Integrating the personalized service model into the larger $3.7 billion asset base.

Finance: draft the pro-forma customer service cost allocation based on the Q3 2025 revenue run rate by Friday.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Channels

You're looking at how TC Bancshares, Inc. (TCBC), through its subsidiary TC Federal Bank, reached its customers as of late 2025, right before the expected closing of the merger with Colony Bankcorp, Inc. The channels reflect a community bank strategy focused on local presence augmented by digital tools.

Full-service branch locations in North Florida and South Georgia

The physical channel strategy centers on a concentrated footprint in specific attractive markets. As of the last reported structure before the merger, the physical presence included the main office and several key service points:

• Main office in Thomasville, Georgia.
• A branch office and a residential mortgage center in Tallahassee, Florida.
• Commercial loan production offices (LPOs) in Savannah, Georgia and Jacksonville, Florida.

This physical network supported the bank's total assets, which stood at approximately $570 million as of July 2025.

Online and mobile banking for retail and business customers

Digital delivery is a necessary complement to the branch system, supporting a customer base that contributed to a Latest Twelve Months (LTM) Revenue of $17.35 million ending June 30, 2025. The bank emphasized enhancing customer experience in 2025, which includes digital platforms.

The financial performance in the third quarter of 2025 showed revenue of about $4.9 million, indicating the ongoing transactional volume processed through all channels, digital included.

ATM network access for cash and basic transactions

While specific numbers on the ATM fleet size aren't public, access for cash and basic transactions is standard for a community bank of this size. This channel supports the day-to-day needs of the retail segment.

Direct sales force for commercial and real estate lending

High-value relationship banking, particularly in commercial and real estate lending, relies on a direct sales force, often operating out of the LPOs mentioned. This function is crucial for originating the higher-yielding loans the bank focused on. The Q3 2025 net income was roughly $0.33 million, which is supported by the disciplined lending approach managed by these relationship teams.

Here's a quick look at the financial scale these channels were supporting near the end of 2025:

The imminent merger with Colony Bankcorp, Inc., valued at approximately $86.1 million, is set to dramatically scale these channels into a larger franchise.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Customer Segments

You're looking at the core customer base for TC Bancshares, Inc. (TCBC) right before its acquisition closed on December 1, 2025. This bank, operating through TC Federal Bank, has firmly planted its flag in Georgia and Florida communities.

Individuals and families in North Florida and South Georgia communities

This segment is the foundation, relying on TC Bancshares, Inc. for core transactional and savings needs. They are the source of the stable, lower-cost funding base. The company accepts various deposit products from this group, including personal checking accounts, savings accounts, money market accounts, and certificates of deposit. The bank also serves them with lending products like single-family residential loans and home equity lines of credit.

Small to mid-sized businesses requiring commercial real estate and industrial loans

This is where the growth in interest income is coming from. For the Trailing Twelve Months (TTM) ending June 2025, Net Interest Income (NII) hit $16.06 million, a 17.22% year-over-year increase, driven by loan origination in this area. The company's lending focus includes commercial and industrial loans and commercial real estate loans. The total Gross Loans on the balance sheet as of December 31, 2024, stood at $413.1 million.

Real estate investors and developers in the local market

These customers drive specialized, often shorter-term, lending activity. This group utilizes construction loans and land development loans offered by TC Bancshares, Inc. The bank limits its overall investment in these higher-risk portfolio segments based on management assessment and regulatory guidance.

Retail customers seeking checking, savings, and CD products

These customers provide the necessary funding base. The total Non-Interest Income, which includes service charges on deposit accounts, was a minor part of the revenue picture for the TTM ending June 2025, at just $0.99 million. The bank's ability to grow its Net Interest Income, which was $16.06 million for the TTM ending June 2025, is directly tied to attracting and retaining these deposit customers. The bank has 65 full-time employees to support these relationships.

Here's a look at how the loan portfolio, which directly serves the commercial and investor segments, is segmented internally by TC Bancshares, Inc. as of early 2024, which informs the late 2025 strategy:

The primary deposit offerings that support these lending activities include:

• Personal checking accounts
• Business checking accounts
• Savings accounts
• Money market accounts
• Certificates of deposit

The TTM Net Income through mid-2025 was $1.61 million, translating to $0.39 EPS. Finance: draft a pro-forma balance sheet reflecting the December 1, 2025, acquisition by Colony Bankcorp, Inc. by next Tuesday.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Cost Structure

You're looking at the core expenditures that drive the operations of TC Bancshares, Inc. (TCBC) as of late 2025. For a bank, the cost structure is heavily weighted toward the cost of funds-what they pay to keep deposits-and the personnel required to manage the loan book and branches. Honestly, in this environment, managing the cost of deposits is definitely the tightest lever they have.

The largest single cost component is the interest paid out to depositors, which has climbed significantly as the rate environment has shifted. Here's the quick math on the key known costs based on Trailing Twelve Months (TTM) data ending June 2025, all in millions of USD.

Let's break down what these numbers mean for the day-to-day running of TC Bancshares, Inc. (TCBC).

Interest Expense on Deposits: This figure stands at $11.84 million for the TTM ending June 2025. This is the direct cost of funding the balance sheet through customer deposits, which is the primary source of capital for lending activities. It reflects the competitive rates TC Bancshares, Inc. has to offer to attract and retain customer funds.

Salaries and Employee Benefits: At $7.65 million (TTM June 2025), this represents the investment in the human capital needed to originate loans, manage customer relationships, and handle compliance across the franchise. It's a substantial, relatively fixed operating cost.

The remaining costs cover the physical footprint and the necessary external expertise:

• Occupancy and equipment expenses for branch operations: This covers rent, utilities, maintenance for the physical locations, and the depreciation/lease costs for banking technology and equipment. The related asset value for Property, Plant & Equipment was $6.16 million as of June 30, 2025.
• Regulatory compliance and professional fees: This category absorbs the costs associated with external legal counsel, audit fees, and the ongoing expenses required to meet federal and state banking regulations. This is a non-negotiable cost of operating in a highly regulated industry. The figure for Other Non-Interest Income was $0.40 million for the same period.

Finance: draft 13-week cash view by Friday.

TC Bancshares, Inc. (TCBC) - Canvas Business Model: Revenue Streams

When you look at how TC Bancshares, Inc. (TCBC) brings in money, you see a classic, interest-driven bank model, which is typical for a holding company like this for TC Federal Bank. The bulk of the revenue, as you'd expect, comes from the difference between what they earn on their assets and what they pay out on their liabilities. As of the Trailing Twelve Months (TTM) ending June 2025, the Net Interest Income (NII)-that core spread-was $16.06 million.

That NII is built on two primary interest-earning components. First, the lending side is the biggest driver. Interest Income on Loans for the TTM June 2025 hit $23.94 million. This comes from their portfolio, which includes single-family residential loans, commercial real estate loans, and various consumer and commercial/industrial loans. Second, they earn interest from their balance sheet holdings. Interest Income on Investments for that same period was $4.49 million. It's worth noting that the NII growth year-over-year for this period was a solid 17.22%, showing they were managing their spread effectively, especially given the rate environment in mid-2025.

Here's a quick math check on the interest components for the TTM ending June 2025:

Beyond the interest spread, TC Bancshares, Inc. generates revenue from fees and services, which we call Non-Interest Income. For the TTM ending June 2025, this stream brought in $0.99 million. This is the secondary, but still important, part of their revenue mix. This income typically covers the operational side of banking services.

You can see the breakdown of the key revenue streams for the TTM ending June 2025 below. Remember, these figures represent the core earnings engine before considering any provisions for loan losses, which is a key metric for any bank analyst to watch.

• Interest Income on Loans: $23.94 million.
• Interest Income on Investments: $4.49 million.
• Non-Interest Income (fees and service charges): $0.99 million.
• Net Interest Income (the primary driver): $16.06 million.

To be fair, the Non-Interest Income stream has seen some compression recently, with the year-over-year growth for Total Non-Interest Income showing a slight decline of -0.83% as of that June 2025 period. Still, the overall strength in Net Interest Income is what really defines the revenue profile for TC Bancshares, Inc. as they moved through 2025, even as they were navigating the merger agreement with Colony Bankcorp, Inc. announced in July 2025. Finance: draft a sensitivity analysis on NII if the average loan yield drops by 50 basis points by end of Q4 2025 by Friday.