Texas Community Bancshares, Inc. - TCBS STOCK NEWS

Texas Community Bancshares (NASDAQ: TCBS), the holding company of Broadstreet Bank, SSB, has declared a quarterly cash dividend of $0.04 per share of common stock. The dividend will be payable on September 26, 2024 to stockholders of record as of September 12, 2024. Broadstreet Bank, established in 1934, has grown from $4,057 in assets to a $450 million community bank operating seven locations in northeast Texas. The bank offers full-service personal and business banking, along with residential and commercial real estate lending.

Texas Community Bancshares, the holding company of Broadstreet Bank, SSB, announced a quarterly cash dividend of $0.04 per share. The dividend will be payable on June 28, 2024, to stockholders of record as of June 14, 2024. Broadstreet Bank, established in 1934, operates seven locations in northeast Texas and has grown into a $463 million community bank. The bank offers full-service personal and business banking, as well as residential and commercial real estate lending.

Texas Community Bancshares, Inc. (NASDAQ: TCBS) reported a net loss of $2.7 million for Q1 2024, up from a $1.0 million loss in Q1 2023. Losses per share were $(0.90) in Q1 2024 compared to $(0.33) in Q1 2023. The loss was primarily due to the sale of performing loans and write-downs on pending loan sales. Net interest income rose by $331,000 to $3.0 million, while noninterest income decreased by $2.4 million, largely due to loan sales and branch demolition costs. Noninterest expenses increased by $433,000, driven by higher salaries, occupancy costs, and other expenses. Despite the challenges, the company improved its net interest margin and maintained strong asset quality. Shareholders' equity fell by $2.2 million to $51.5 million, mainly due to net losses and share repurchases.

Texas Community Bancshares, Inc. (TCBS) announces a quarterly cash dividend increase to $0.04 per share, marking the second rise since dividend initiation in March 2023.

Texas Community Bancshares, Inc. reported a net loss of $733,000 for 2023 compared to a net income of $1,754,000 in 2022. Despite strategic changes, the loss was attributed to securities sales and increased expenses. Net interest income increased, but non-interest income decreased significantly. Shareholders' equity decreased by $2.2 million due to the loss on securities sales and other factors.

Texas Community Bancshares, Inc. (NASDAQ: TCBS) authorizes new stock repurchase program, allowing for the repurchase of up to 161,316 shares, approximately 5% of outstanding common stock. Completed repurchase of 164,842 shares under prior program. Repurchases to be conducted through open market or privately negotiated transactions, with no guarantee on exact number of shares. Program may be suspended or discontinued at any time, aiming to retain financial flexibility for core operations.