Texas Community Bancshares, Inc. Authorizes New Stock Repurchase Program

Rhea-AI Summary

Texas Community Bancshares (NASDAQ: TCBS) has announced a new stock repurchase program authorized by its Board of Directors. The program allows the company to repurchase up to 153,083 shares, representing approximately 5% of its outstanding common stock as of February 25, 2025.

The company also reported successfully completing over 85% of its previous share repurchase program, which had authorized 161,316 shares. The new repurchases will be conducted through open market purchases, including via an SEC Rule 10b5-1 trading plan, or through privately negotiated transactions, subject to market conditions.

TCBS maintains the right to suspend or discontinue the program at any time, emphasizing its commitment to maintaining financial flexibility for core operations investments.

Positive

• New 153,083 share repurchase program authorized (5% of outstanding shares)
• High completion rate (85%) of previous buyback program
• Flexible execution methods through open market or private transactions

Negative

• Program can be suspended or discontinued at any time
• Share repurchases may limit capital available for core operations

News Market Reaction

+5.30%

1 alert

+5.30% News Effect

On the day this news was published, TCBS gained 5.30%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MINEOLA, Texas, Feb. 27, 2025 /PRNewswire/ -- Texas Community Bancshares, Inc. (the "Company") (NASDAQ: TCBS), the holding company of Broadstreet Bank, SSB, announced that its Board of Directors has approved a new stock repurchase program that authorizes the Company to repurchase up to 153,083 shares, which equals approximately 5% of its outstanding common stock as of February 25, 2025. The Company also announced that as of February 25, 2025, it had repurchased over 85% of the 161,316 shares of its common stock authorized under the prior share repurchase program previously disclosed.

The Company intends to conduct any repurchases through open market purchases, including by means of a trading plan adopted under SEC Rule 10b5-1, or in privately negotiated transactions, subject to market conditions and other factors. There is no guarantee as to the exact number of shares that the Company may repurchase. Throughout the execution of this program, the Company is committed to retaining the financial flexibility it needs to invest in its core operations. The stock repurchase program may be suspended or discontinued at any time.

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SOURCE Texas Community Bancshares, Inc.

FAQ

How many shares can Texas Community Bancshares (TCBS) repurchase under the new program?

TCBS can repurchase up to 153,083 shares, representing 5% of outstanding common stock as of February 25, 2025.

What percentage of the previous TCBS share repurchase program was completed?

Over 85% of the previous 161,316 shares authorized for repurchase were completed as of February 25, 2025.

How will TCBS execute its new stock repurchase program?

Through open market purchases, including via SEC Rule 10b5-1 trading plan, or through privately negotiated transactions.

Can Texas Community Bancshares suspend its new stock repurchase program?

Yes, TCBS can suspend or discontinue the repurchase program at any time.