Texas Community Bancshares agrees $9.5 million purchase of San Jacinto bank

Texas Community Bancshares ($TCBS) signed a definitive agreement to acquire the parent of The Bank of San Jacinto County for $9.5 million in cash. The target operates one banking office in Coldspring, Texas. Its latest figures disclosed in the announcement showed approximately $42.0 million of assets, $12.5 million of loans and $35.3 million of deposits at the end of June.

The acquisition would add a local deposit base and extend the buyer’s community-banking footprint. Both boards unanimously approved the agreement, with completion expected in the first quarter of 2027. Regulatory consent and approval from the target’s shareholders remain required. The cash consideration will be allocated pro rata among those shareholders at closing. The companies have agreed the transaction, but ownership has not yet transferred and anticipated integration benefits have not been realized.

Sources:

• PR Newswire