Texas Community Bancshares to Acquire The Banc of San Jacinto County Bancshares in All-Cash Deal
Texas Community Bancshares, Inc. (NASDAQ: TCBS) has entered into a definitive agreement to acquire The Banc of San Jacinto County Bancshares, Inc. (SJCB) in an all-cash transaction valued at $9.5 million. The acquisition includes SJCB's subsidiary, The Bank of San Jacinto County, a community bank based in Coldspring, Texas, that has operated for over 60 years. The merger is intended to expand TCBS's footprint through strategic growth in familiar markets while providing SJCB customers with access to a wider array of financial products and increased lending capacity. The transaction has received unanimous approval from the boards of directors of both companies. The deal is expected to close in the first quarter of 2027, pending customary regulatory approvals and shareholder consent from SJCB. Upon closing, SJCB shareholders will receive a pro rata portion of the $9.5 million cash consideration for each outstanding share.
Topics: acquisition all-cash transaction banking merger agreement