MINEOLA, Texas, July 14, 2021 / PRNewswire / – Texas Community Bancshares, Inc. (the “Company”), the holding company of Mineola Community Bank, SSB (“Mineola Community Bank”), today announced that it has completed its IPO in connection with the conversion of Mineola Community Mutual Holding Company from the mutual holding company to the organizational form of the joint stock holding company. The share offering and conversion was completed after close of business today. The Company’s common shares are expected to begin trading on the Nasdaq Capital Market under the symbol “TCBS” on July 15, 2021.
The Company sold a total of 3,207,759 ordinary shares, of which 260,621 were sold to the Employee Shareholding Plan of Mineola Community Bank, at a price of $ 10.00 per share. The Company also contributed 50,000 ordinary shares and $ 75,000 in cash to the TCBS Foundation, Inc., a charitable foundation formed as part of the conversion and dedicated to supporting charities operating in the local community of Mineola Community Bank. A total of 3,257,759 common shares of the Company are issued and outstanding.
Luse Gorman, PC acted as legal counsel to the Company and to Mineola Community Bank. Performance Trust Capital Partners, LLC acted as marketing agent for the Company in connection with the share offering, and Goodwin Procter LLP acted as legal counsel to Performance Trust Capital Partners, LLC.
About Texas Community Bancshares and Mineola Community Bank
Texas Community Bancshares, Inc. is the banking holding company of Mineola Community Bank, SSB, a Texas-chartered savings bank which operates from its head office in Mineola and its branches in Edge wood, Grande Saline, Lindale, Mineola, and Winnsboro to North-east Texas.
SOURCE Texas Community Bancshares, Inc.