Texas Community Bancshares Inc (OQ:TCBS)

Business Focus: Banks

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Sector: Financials	Industry: Banks

See Regulatory Filings on SEC

Company Contact

Address:	215 West Broad Street MINEOLA TX 75773
Tel:	N/A
Website:	N/A
IR:	N/A

Key People

N/A

Business Overview

Texas Community Bancshares, Inc. is a holding company for Broadstreet Bank, SSB (the Bank). The Bank is a Texas-chartered savings bank. The Bank's business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings from the Federal Home Loan Bank of Dallas, in residential real estate loans and commercial real estate loans and, to a lesser extent, commercial loans, construction and land loans, and consumer and other loans. It also invests in securities which have historically consisted primarily of mortgage-backed securities and obligations issued by the United States government-sponsored enterprises and others, state and municipal securities, collateralized mortgage obligations, corporate bonds, and Federal Home Loan Bank stock. It offers a variety of deposit accounts, including checking accounts, money market accounts, savings accounts and certificates of deposit accounts.

Financial Overview

For the fiscal year ended 31 December 2023, Texas Community Bancshares Inc interest income increased 51% to $19M. Net interest income after loan loss provision increased 6% to $10.7M. Net loss totaled $733K vs. income of $1.8M. Net interest income after loan loss provision reflects Loans, including fees increase of 27% to $12.8M, Taxable increase from $2.2M to $4.9M, Deposits with banks increase from $39K to $452K.

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