Texas Community Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 05:31 pm EST
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Texas Community Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was USD 2.75 million compared to USD 2.1 million a year ago. Net income was USD 0.539 million compared to net loss of USD 0.198 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to basic loss per share from continuing operations of USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to diluted loss per share from continuing operations of USD 0.07 a year ago.
For the nine months, net interest income was USD 7.55 million compared to USD 6.21 million a year ago. Net income was USD 1.35 million compared to USD 0.232 million a year ago. Basic earnings per share from continuing operations was USD 0.45 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 0.08 a year ago.
Texas Community Bancshares, Inc. is a holding company for Broadstreet Bank, SSB (the Bank). The Bank is a Texas-chartered savings bank. The Bankâs 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.