MINEOLA – October 30, 2026 -- Texas Community Bancshares, Inc. (NASDAQ: TCBS) agreed to acquire The Banc of San Jacinto County Bancshares, Inc. (SJCB) in an all-cash deal worth $9.5 million, with closing expected in the first quarter of 2027.
SJCB shareholders split a $9.5 million cash pool
Under the merger agreement, SJCB shareholders will receive aggregate cash consideration of $9.5 million. Each outstanding share of SJCB common stock converts into a pro rata portion of that amount at closing. The deal includes SJCB's wholly owned subsidiary, The Bank of San Jacinto County, a Texas non-member bank.
Target bank holds $41.951 million in assets from a single office
Founded in 1963, SJCB Bank operates one banking office in Coldspring, the county seat of San Jacinto County, Texas. As of June 30, 2026, it reported total assets of $41.951 million, total loans of $12.515 million and total deposits of $35.305 million. Denny Clark is its chief executive officer.
Broadstreet Bank parent extends its Texas footprint
Texas Community Bancshares is the holding company for Broadstreet Bank, SSB, a Texas-chartered savings bank based in Mineola. Broadstreet serves customers through its main office and six branches in Franklin, Hopkins, Smith, Van Zandt and Wood Counties in East Texas. CEO Jason Sobel described the deal as an extension of a strategy to grow "thoughtfully in markets we know and understand." He said SJCB customers would gain access to a broader range of products, services and lending capacity.
Clark said SJCB's board concluded that joining Texas Community Bancshares was the right step for shareholders, customers and employees.
Regulatory and shareholder approvals stand between signing and closing
The boards of both companies unanimously approved the agreement. Closing requires regulatory approvals and approval by SJCB shareholders, along with other customary conditions. SJCB will prepare a proxy statement for its shareholders to vote on the merger.
Alston & Bird LLP is legal counsel to Texas Community Bancshares. Fenimore Kay Harrison LLP is legal counsel to SJCB, and Performance Trust Capital Partners, LLC is SJCB's financial advisor.