MergerOct 30, 2026, 01:46 PM
Texas Community Bancshares to Acquire SJCB for $9.5M
AI Summary
Texas Community Bancshares, Inc. (TCBS) announced it has entered into a definitive merger agreement to acquire The Banc of San Jacinto County Bancshares, Inc. (SJCB) in an all-cash transaction valued at $9.5 million. The deal also includes SJCB's subsidiary, The Bank of San Jacinto County. As of June 30, 2026, SJCB Bank had total assets of $41.951 million. The merger is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals. Both companies' boards have unanimously approved the agreement.
Key Highlights
- Texas Community Bancshares, Inc. (TCBS) to acquire The Banc of San Jacinto County Bancshares, Inc. (SJCB) in an all-cash transaction.
- The total merger consideration is $9.5 million in cash.
- SJCB Bank reported total assets of $41.951 million as of June 30, 2026.
- The merger is expected to close in the first quarter of 2027.
- The transaction has been unanimously approved by the boards of directors of both companies.
- SJCB shareholders must approve the merger agreement.
Price Impact
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