Texas Community Bancshares Buys Bank of San Jacinto County for $9.5 Million

Texas Community Bancshares, Inc. (TCBS ) and The Banc of San Jacinto County Bancshares, Inc. announced on October 29, 2026 that they have entered into a definitive merger agreement under which Texas Community Bancshares will acquire SJCB in an all-cash transaction. SJCB’s shareholders will receive aggregate cash consideration of $9.5 million, and the transaction includes SJCB’s wholly owned subsidiary, The Bank of San Jacinto County, a Texas non-member bank headquartered in Coldspring, Texas, according to the joint announcement posted on the Texas Community Bancshares investor-relations site.

Under the terms of the merger agreement, each outstanding share of SJCB common stock will be converted at closing into the right to receive a pro rata portion of that amount in cash. The agreement designates the $9.5 million as the Aggregate Merger Consideration. The boards of directors of both companies unanimously approved the merger agreement.

The companies expect the merger to close in the first quarter of 2027. Closing is subject to customary closing conditions, including receipt of required regulatory approvals and approval of the merger agreement by SJCB’s shareholders.

Alston & Bird LLP is serving as legal counsel to Texas Community Bancshares. Fenimore Kay Harrison LLP is serving as legal counsel to SJCB, and Performance Trust Capital Partners, LLC is serving as financial advisor to SJCB.

The Bank of San Jacinto County

SJCB Bank was founded in 1963 and is headquartered in Coldspring, the county seat of San Jacinto County, Texas. The bank offers retail and commercial banking services from a single banking office in Coldspring and is led by Chief Executive Officer Denny Clark. According to the announcement, SJCB Bank has served as a community-focused institution committed to the financial well-being and growth of the communities it serves for more than six decades.

The announcement states that 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.

Texas Community Bancshares

Texas Community Bancshares is a bank holding company that conducts banking activities through its wholly owned subsidiary, Broadstreet Bank, SSB, a Texas-chartered stock savings bank headquartered in Mineola, Texas, according to the company’s investor-relations overview. Broadstreet Bank, founded in 1934, operates seven branch locations in Mineola, Winnsboro, Lindale, Grand Saline, Edgewood and Tyler, and offers deposit accounts, consumer and mortgage loans, personal and business banking, safe deposit boxes and an array of electronic services to individuals and businesses. Jason Sobel, president and chief executive officer of Texas Community Bancshares, said the transaction is “a natural extension of our strategy to grow thoughtfully in markets we know and understand.” Sobel said the company was pleased to welcome SJCB Bank, its customers and its employees to the organization, and said SJCB Bank has earned the trust of San Jacinto County over more than 60 years, a legacy he said the company intends to honor. He said the companies believe the combination will give SJCB Bank’s customers access to a broader range of products, services and lending capacity while creating long-term value for shareholders.

Denny Clark said that after careful consideration, SJCB’s board concluded that joining Texas Community Bancshares is “the right step for our shareholders, our customers and our employees.” He said the two institutions share the same values and the same belief in local, personal service, and expressed confidence that, as part of a larger organization, the bank will be able to serve its community more effectively.

In connection with the merger, SJCB will prepare a proxy statement that, when finalized, will be sent to SJCB shareholders seeking their approval of the merger agreement and related proposals. The announcement states that the proxy statement, when available, may be obtained free of charge upon written request by SJCB shareholders as of the record date to SJCB, Attention: Denny Clark, President, 100 Highway 150 West, Coldspring, Texas 77331, or by calling (936) 653-4395.

The announcement also states that SJCB and certain of its directors and executive officers may be deemed participants in the solicitation of proxies from SJCB shareholders in favor of approval of the merger agreement, and that information regarding the directors’ and executive officers’ direct or indirect interests in the merger, including interests that may differ from those of SJCB’s shareholders generally, will be included in the proxy statement when it becomes available.