{"id":845754,"date":"2025-05-01T17:33:23","date_gmt":"2025-05-01T21:33:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/texas-community-bancshares-inc-reports-unaudited-financial-results-for-the-first-quarter-ended-march-31-2025\/"},"modified":"2025-05-01T17:33:23","modified_gmt":"2025-05-01T21:33:23","slug":"texas-community-bancshares-inc-reports-unaudited-financial-results-for-the-first-quarter-ended-march-31-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/texas-community-bancshares-inc-reports-unaudited-financial-results-for-the-first-quarter-ended-march-31-2025\/","title":{"rendered":"TEXAS COMMUNITY BANCSHARES, INC. REPORTS UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2025"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n MINEOLA, Texas<\/span>
\n <\/span>, May 1, 2025<\/span><\/span> \/PRNewswire\/ —\u00a0Texas Community\u00a0Bancshares, Inc. (“Texas Community Bancshares” or the “Company”) (NASDAQ: TCBS), the holding company for Broadstreet Bank, SSB, today reported net income of $643,000<\/span> for the three months ended March 31, 2025<\/span> compared to a net loss of $2.7 million<\/span> for the three months ended March 31, 2024<\/span>. Income per basic and diluted shares for the three months ended March 31, 2025<\/span> was $0.22<\/span> per share.<\/p>\n

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Texas Community Bancshares’ President and Chief Executive Officer (CEO) Jason Sobel<\/span>, said, “We are thrilled to have net income of $643,000<\/span> which is the fourth quarter in a row we have seen an increase.\u00a0 With that momentum, this is one of the best quarters the bank has ever had, and we attribute a large portion of the increase to the balance sheet restructuring completed last year and ongoing efficiency projects.\u00a0 You can see the growth of net interest income from $3.0 million<\/span> for the first quarter of 2024 to $3.3 million<\/span> for same period in 2025. A large portion of the proceeds from the 2024 residential loan sale were redeployed into higher yielding commercial loans, which is part of our focus to balance our loan portfolio more evenly and grow commercial relationships.\u00a0 We have continued to focus on loan and deposit pricing in an effort to expand our Net Interest Margin. We are excited about the future and growth prospects of the bank and the board has approved another stock repurchase program for up to 5% of outstanding common shares.”<\/p>\n

“We believe we are stronger and better positioned to capitalize on opportunities that may present themselves due to the changes that were initiated. We remain committed to executing our strategic growth plan while creating long-term value for our shareholders.”<\/p>\n

Net interest income increased $365,000<\/span>, or 12.3%, to $3.3 million<\/span> for the three months ended March 31, 2025<\/span> from $3.0 million<\/span> for the three months ended March 31, 2024<\/span> due primarily to a 45 basis point, or 16.0% increase in net interest margin, from 2.79% for the three months ended March 31, 2024<\/span> to 3.24% for the three months ended March 31, 2025<\/span>. The increase in net interest margin is due primarily to the balance sheet restructuring in the first quarter of 2024, which included the sale of fixed rate residential mortgage loans. These funds were then redeployed into higher yielding assets including commercial loans with more favorable terms and rates. Average loan yields for the three months ended March 31, 2025<\/span> increased 61 basis points to 5.88%, compared to 5.27% for the three months ended March 31<\/span>, 2024.\u00a0 There was a reduction in FHLB advances of\u00a0 $26.9 million<\/span> from March 31, 2024<\/span> to March 31, 2025<\/span> and the average cost of interest-bearing liabilities declined 11 basis points to 2.68% for the three months ended March 31, 2025<\/span>, compared to 2.79% for the three months ended March 31, 2024<\/span> due primarily to lower rates on deposit accounts with a more consistent approach to analyzing and pricing deposit rates.\u00a0<\/p>\n

Noninterest income increased $4.1 million<\/span>, or 113.9%, to $462,000<\/span> for the three months ended March 31, 2025<\/span> from a loss of $3.6 million<\/span> for the three months ended March 31<\/span>, 2024.\u00a0 Noninterest income includes service charges on deposit accounts, other service charges and fees, debit card interchange fees, and net appreciation on BOLI assets.\u00a0 The changes included:<\/p>\n