Texas Community Bancshares, Inc. (NASDAQ:TCBS) and The Banc of San Jacinto County Bancshares, Inc. jointly announced on October 29, 2026, that they have entered into a definitive merger agreement under which TCBS will acquire SJCB in an all-cash transaction for aggregate cash consideration of $9.5 million.

Key Highlights

  • All-cash deal: SJCB shareholders will receive aggregate cash consideration of $9.5 million, with each outstanding share converted into a pro rata portion of that amount at closing.
  • Target's financial profile: As of June 30, 2026, SJCB Bank reported total assets of $41.951 million, total loans of $12.515 million, and total deposits of $35.305 million.
  • Single-office institution: The Bank of San Jacinto County operates from one banking office in Coldspring, Texas, and has served San Jacinto County since 1963.
  • Unanimous board approval: The boards of directors of both Texas Community Bancshares and SJCB have unanimously approved the Merger Agreement.
  • Expected closing: The merger is expected to close in the first quarter of 2027, subject to regulatory approvals and SJCB shareholder approval.
  • Leadership: Jason Sobel is President and Chief Executive Officer of Texas Community Bancshares; Denny Clark is Chief Executive Officer of SJCB Bank.

Texas Community Bancshares Announces All-Cash Acquisition of The Bank of San Jacinto County

According to the filing, Texas Community Bancshares, headquartered in Mineola, Texas, will acquire The Banc of San Jacinto County Bancshares, Inc. and its wholly owned subsidiary, The Bank of San Jacinto County, a Texas non-member bank headquartered in Coldspring, Texas. The company disclosed that under the Merger Agreement, SJCB's shareholders will receive aggregate cash consideration of $9.5 million, with each outstanding share of SJCB common stock converted into the right to receive a pro rata portion of that consideration at closing.

The filing states that SJCB Bank was founded in 1963 and operates from a single banking office in Coldspring, the county seat of San Jacinto County, Texas. As of June 30, 2026, SJCB Bank reported total assets of $41.951 million, total loans of $12.515 million, and total deposits of $35.305 million. The bank offers retail and commercial banking services and is led by Chief Executive Officer Denny Clark.

According to the filing, Texas Community Bancshares is the holding company for Broadstreet Bank, SSB, a Texas-chartered savings bank also headquartered in Mineola, serving customers through its main office and six branch offices across Franklin, Hopkins, Smith, Van Zandt, and Wood Counties in East Texas. The company is traded on the NASDAQ Capital Market Exchange under the symbol "TCBS." The filing identifies Alston and Bird LLP as legal counsel to the company, while Fenimore Kay Harrison LLP is serving as legal counsel to SJCB and Performance Trust Capital Partners, LLC is serving as financial advisor to SJCB. Closing is subject to customary conditions, including receipt of required regulatory approvals and approval by SJCB's shareholders. The filing notes that forward-looking statements, including those regarding expected timing and benefits of the merger, are subject to the company's cautionary language and numerous risks and uncertainties.

What Was Disclosed

Texas Community Bancshares and SJCB jointly announced a definitive all-cash merger agreement valued at $9.5 million in aggregate consideration. Both boards unanimously approved the agreement, with closing anticipated in the first quarter of 2027 pending regulatory and shareholder approvals.