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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

⌧	QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

◻	TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission File No. 001-40610

Texas Community Bancshares, Inc.

(Exact Name of Registrant as Specified in Its Charter)


Maryland		86-2760335
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)

215 West Broad Street, Mineola, Texas		75773
(Address of Principal Executive Offices)		(Zip Code)

(903) 569-2602

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:



Common stock, $0.01 par value per share	TCBS	The Nasdaq Stock Market LLC
(Title of Each Class)	(Trading Symbol(s))	(Name of Each Exchange on Which Registered)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such requirements for the past 90 days. YES ⌧ NO ◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES ⌧ NO ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer ◻		Accelerated filer ◻
Non-accelerated filer ⌧		Smaller reporting company ☒
		Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ⌧

There were 2,885,392 shares, par value $0.01 per share, of the Registrant’s common stock outstanding as of May 7, 2026.

Table of Contents

Texas Community Bancshares, Inc.

Form 10-Q

Table of Contents


		Page
PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements	1

	Consolidated Statements of Financial Condition at March 31, 2026 (unaudited) and December 31, 2025	1

	Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (unaudited)	2

	Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2026 and 2025 (unaudited)	3

	Consolidated Statements of Shareholders’ Equity for the Three Months Ended March 31, 2026 and 2025 (unaudited)	4

	Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (unaudited)	5

	Notes to Consolidated Financial Statements (unaudited)	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	28

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	40

Item 4.	Controls and Procedures	41

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings	42

Item 1A.	Risk Factors	42

Item 2.	Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities	42

Item 3.	Defaults Upon Senior Securities	42

Item 4.	Mine Safety Disclosures	42

Item 5.	Other Information	42

Item 6.	Exhibits	43

	Signatures	44

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

Texas Community Bancshares, Inc. and Subsidiaries

Consolidated Statements of Financial Condition

March 31, 2026 and December 31, 2025

(Amounts in thousands, except share and per share data)


	March 31,		December 31,
	2026		2025
	(unaudited)
Assets
Cash and due from banks	$	3,222	$	3,876
Federal funds sold		3,232		2,574
Cash and cash equivalents		6,454		6,450
Interest bearing deposits in banks		10,083		5,509
Securities available for sale		60,070		59,893
Securities held to maturity, net of allowance for credit losses of $0 (fair values of $15,859 at March 31, 2026 and $16,744 at December 31, 2025)		17,521		18,283
Loans receivable, net of allowance for credit losses of $3,437 at March 31, 2026 and $3,440 at December 31, 2025		297,463		301,986
Net investment in direct financing leases		1,038		1,219
Accrued interest receivable		1,683		1,888
Premises and equipment, net		13,121		11,459
Bank-owned life insurance		6,587		6,544
Other real estate owned		9,104		9,271
Restricted investments carried at cost		2,805		2,773
Deferred income taxes		1,772		1,814
Other assets		2,745		2,753
	$	430,446	$	429,842
Liabilities and Shareholders' Equity
Liabilities
Noninterest bearing	$	48,658	$	45,871
Interest bearing		283,299		282,033
Total deposits		331,957		327,904
Advances from Federal Home Loan Bank (FHLB)		41,567		45,669
Accrued expenses and other liabilities		2,688		2,512
Total liabilities		376,212		376,085
Shareholders' Equity
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued and outstanding		—		—
Common stock, $0.01 par value, 19,000,000 shares authorized, 3,364,633 issued and 2,885,392 outstanding at March 31, 2026 and 3,366,516 issued and 2,887,275 outstanding at December 31, 2025		34		34
Additional paid in capital		33,257		33,198
Retained earnings		33,105		32,412
Accumulated other comprehensive loss		(3,372)		(3,063)
Unearned Employee Stock Ownership Program (ESOP) shares, at cost		(1,850)		(1,884)
Treasury stock, at cost (479,241 shares at March 31, 2026 and December 31, 2025)		(6,940)		(6,940)
Total shareholders' equity		54,234		53,757
	$	430,446	$	429,842

See Notes to Consolidated Financial Statements

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Consolidated Statements of Operations (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share and per share data)


	Three Months Ended
	March 31,
	2026		2025

Interest Income
Loans, including fees	$	4,654	$	4,400
Debt securities
Taxable		726		984
Non taxable		36		44
Dividends on restricted investments		34		50
Federal funds sold		61		62
Deposits with banks		59		104
Financial derivative		—		(10)
Total interest income		5,570		5,634
Interest Expense
Deposits		1,648		1,799
Advances from FHLB		489		503
Other		2		4
Total interest expense		2,139		2,306
Net Interest Income		3,431		3,328
Provision for Credit Losses - loans		6		63
Provision for Credit Losses - off-balance sheet credit exposures		—		50
Provision for Credit Losses		6		113
Net Interest Income After Provision for Credit Losses		3,425		3,215
Noninterest Income
Service charges on deposit accounts		180		165
Other service charges and fees		275		302
Net loss on sale of other real estate owned		(25)		—
Fair value adjustments to other real estate owned		—		(52)
Net appreciation on bank-owned life insurance		43		41
Other income		225		6
Total noninterest income		698		462
Noninterest Expenses
Salaries and employee benefits		1,643		1,654
Occupancy and equipment expense		288		247
Data processing		277		234
Technology expense		134		57
Contract services		69		67
Director fees		53		71
Other expense		704		598
Total noninterest expense		3,168		2,928
Income Before Income Taxes		955		749
Income Tax Expense		119		106
Net Income	$	836	$	643
Earnings per share - basic		0.32		0.22
Earnings per share - diluted		0.31		0.22
Weighted-average shares outstanding - basic		2,645,472		2,863,916
Weighted-average shares outstanding - diluted		2,736,745		2,965,742

See Notes to Consolidated Financial Statements

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share and per share data)


	Three Months Ended
	March 31,
	2026		2025
Net Income	$	836	$	643

Other items of comprehensive income (loss)
Debt Securities
Net changes in fair value of available for sale securities, before tax		(391)		918
Net changes in fair value of available for sale securities hedged, before tax		—		(417)
Total other items of comprehensive (loss) income, before tax		(391)		501

Income tax (expense) benefit related to other items of comprehensive (loss) income		82		(106)
Total other items of comprehensive (loss) income, after tax		(309)		395

Comprehensive Income	$	527	$	1,038

See Notes to Consolidated Financial Statements

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Consolidated Statements of Shareholders’ Equity (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share and per share data)


									Accumulated
					Additional				Other		Unearned				Total
	Preferred		Common		Paid In		Retained		Comprehensive		ESOP		Treasury		Shareholders'
	Stock		Stock		Capital		Earnings		Loss		Shares		Stock		Equity
Balance at January 1, 2026	$	—	$	34	$	33,198	$	32,412	$	(3,063)	$	(1,884)	$	(6,940)	$	53,757
Net income		—		—		—		836		—		—		—		836
Stock based compensation expense		—		—		37		—		—		—		—		37
Other comprehensive loss, net of tax		—		—		—		—		(309)		—		—		(309)
Cash dividend declared ($0.05 per share)		—		—		—		(143)		—		—		—		(143)
ESOP shares committed to be released, 3,349 shares		—		—		22		—		—		34		—		56
Balance at March 31, 2026	$	—	$	34	$	33,257	$	33,105	$	(3,372)	$	(1,850)	$	(6,940)	$	54,234

Balance at January 1, 2025	$	—	$	34	$	32,493	$	30,163	$	(4,766)	$	(2,039)	$	(3,777)	$	52,108
Net income		—		—		—		643		—		—		—		643
Stock based compensation expense		—		—		175		—		—		—		—		175
Other comprehensive income, net of tax		—		—		—		—		395		—		—		395
Cash dividend declared ($0.04 per share)		—		—		—		(123)		—		—		—		(123)
ESOP shares committed to be released, 3,277 shares		—		—		19		—		—		33		—		52
Treasury stock purchased, 31,500 shares		—		—		—		—		—		—		(495)		(495)
Balance at March 31, 2025	$	—	$	34	$	32,687	$	30,683	$	(4,371)	$	(2,006)	$	(4,272)	$	52,755

See Notes to Consolidated Financial Statements

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Texas Community Bancshares, Inc. and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share and per share data)


	Three Months Ended
	March 31,
	2026		2025
Operating Activities
Net income	$	836	$	643
Adjustments to reconcile net income to net cash from operating activities
Provision for credit losses - loans		6		63
Provision for credit losses - off-balance sheet credit exposures		—		50
Net amortization (accretion) of securities		38		(15)
Depreciation and amortization		124		146
Net unrealized gain on discontinued financial derivative		—		463
Stock dividends on restricted investments		(32)		(47)
Appreciation on bank-owned life insurance		(43)		(41)
ESOP compensation expense for allocated shares		56		52
Loss on sale other real estate owned		25		—
Fair value adjustment on other real estate owned		—		52
Stock-based compensation		37		175
Deferred income tax expense		124		80
Loss on fair value adjustment of fair value hedges		—		10
Net change in
Accrued interest receivable		205		68
Other assets		56		47
Accrued expenses and other liabilities		176		(3,279)
Net Cash from (used for) Operating Activities		1,608		(1,533)
Investing Activities
Net change in interest bearing deposits in banks		(4,574)		436
Activity in available for sale securities
Purchases		(1,515)		(2,702)
Maturities, prepayments and calls		927		3,591
Activity in held to maturity securities
Maturities, prepayments and calls		729		891
Redemptions of restricted investments		—		1,096
Purchases of other investment		(33)		(36)
Loan originations and principal collections, net		4,637		(4,098)
Net decrease in net investment in direct financing leases		181		149
Proceeds from sales of other real estate owned		22		—
Additions of premises and equipment		(1,786)		(28)
Net Cash (used for) Investing Activities		(1,412)		(701)
Financing Activities
Net increase in deposits		4,053		1,704
Payments on FHLB and other borrowings		(4,102)		(320)
Cash dividends declared and paid		(143)		(123)
Purchases of treasury stock		—		(495)
Net Cash (used for) from Financing Activities		(192)		766
Net Change in Cash and Cash Equivalents		4		(1,468)
Cash and Cash Equivalents at Beginning of Period		6,450		13,290
Cash and Cash Equivalents at End of Period	$	6,454	$	11,822

See Notes to Consolidated Financial Statements

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Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

Note 1 - Summary of Significant Accounting Policies

General

Texas Community Bancshares, Inc. (the “Company”), a Maryland corporation and registered bank holding company, was incorporated on March 5, 2021. The Company became the bank holding company for Broadstreet Bank, SSB (the “Bank”), formerly known as Mineola Community Bank, SSB prior to December 4, 2023, as part of the Bank’s mutual to stock conversion completed on July 14, 2021. The Company’s shares trade on the NASDAQ under the symbol TCBS. Voting rights in the Company are held and exercised exclusively by the shareholders of the Company.

The Company’s primary source of revenue is providing loans and banking services to consumers and commercial customers in Mineola, Texas, and the surrounding area and the Dallas-Fort Worth Metroplex. The accounting and reporting policies of the Company conform with accounting principles generally accepted in the United States of America (GAAP) and to general practices of the banking industry.

Policies and practices which materially affect the determination of financial position, results of operations and cash flows are summarized as follows:

Interim Financial Statements

The interim unaudited consolidated financial statements as of March 31, 2026, and for the three months ended March 31, 2026 and 2025, are unaudited and reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. Such adjustments are the only adjustments contained in these unaudited consolidated financial statements. These unaudited consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission, and therefore certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been omitted. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be achieved for the year ending December 31, 2026, or any other period. Certain prior period data presented in the consolidated financial statements has been revised to conform with the current period presentation. The accompanying consolidated financial statements have been derived from and should be read in conjunction with the audited consolidated financial statements, and notes, contained in the Company’s Form 10-K for the year ended December 31, 2025. Reference is made to the accounting policies of the Company described in the Notes to Consolidated Financial Statements contained in Form 10-K for the year ended December 31, 2025.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, which include the Bank and its wholly-owned subsidiary, Mineola Financial Service Corporation, which is inactive. All significant intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

In preparing consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses.

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Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

Note 2 – Earnings Per Share

Basic earnings per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period, including allocated and committed to be released ESOP shares and restricted stock awards granted during the applicable period. Diluted earnings per share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method.

The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share:


	Three Months Ended
	March 31,
	2026		2025
Net Income	$	836	$	643

Weighted average shares outstanding for basic earnings per share:
Average shares outstanding		2,833,779		3,067,696
Less: average unearned ESOP shares		(188,307)		(203,780)
Weighted average shares outstanding for basic earnings per share		2,645,472		2,863,916

Additional dilutive shares		91,273		101,826

Weighted average shares outstanding for dilutive earnings per share		2,736,745		2,965,742

Basic earnings per share	$	0.32	$	0.22

Dilutive earnings per share	$	0.31	$	0.22

There were no antidilutive restricted awards for the three months ended March 31, 2026. Nonvested restricted stock awards for 21,493 shares of common stock were not considered in computing diluted earnings per share for the three months ended March 31, 2025, because they were antidilutive. There were no antidilutive stock options for the three months ended March 31, 2026. Stock options for 35,838 shares of common stock have vested, however, were not considered in computing diluted earnings per share for the three months ended March 31, 2025, because they were antidilutive.

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Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

Note 3 - Debt Securities

The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:


	March 31, 2026
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
Available for Sale	Cost		Gains		Losses		Value
Debt Securities:
Residential mortgage-backed	$	6,741	$	—	$	(740)	$	6,001
Collateralized mortgage obligations		37,337		—		(1,530)		35,807
State and municipal		9,736		—		(1,119)		8,617
Corporate bonds		10,524		47		(926)		9,645
Total securities available for sale	$	64,338	$	47	$	(4,315)	$	60,070

Held to Maturity
Debt Securities:
Residential mortgage-backed	$	15,453	$	—	$	(1,631)	$	13,822
State and municipal		1,200		—		(33)		1,167
U.S. Government and agency		868		2		—		870
Total securities held to maturity	$	17,521	$	2	$	(1,664)	$	15,859


	December 31, 2025
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
Available for Sale	Cost		Gains		Losses		Value
Debt Securities:
Residential mortgage-backed	$	6,475	$	—	$	(679)	$	5,796
Collateralized mortgage obligations		37,023		12		(1,293)		35,742
State and municipal		9,753		—		(1,010)		8,743
Corporate bonds		10,519		49		(956)		9,612
Total securities available for sale	$	63,770	$	61	$	(3,938)	$	59,893

Held to Maturity
Debt Securities:
Residential mortgage-backed	$	16,112	$	—	$	(1,534)	$	14,578
State and municipal		1,200		—		(6)		1,194
U.S. Government and agency		971		1		—		972
Total securities held to maturity	$	18,283	$	1	$	(1,540)	$	16,744

During the three months ended March 31, 2026 and 2025, the Company had no sales of available for sale securities or held to maturity securities.

At March 31, 2026 and December 31, 2025, securities with a fair value of $14,872 and $14,815, respectively, were pledged to secure public deposits and for other purposes required or permitted by law.

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Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

The amortized cost and fair value of debt securities by contractual maturity at March 31, 2026, follows:


	Available for Sale				Held to Maturity
			Estimated				Estimated
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year	$	—	$	—	$	—	$	—
Due from one to five years		1,145		1,046		135		128
Due in five to ten years		12,885		12,031		868		870
After ten years		6,230		5,185		1,065		1,039
Residential mortgage-backed		6,741		6,001		15,453		13,822
Collateralized mortgage obligations		37,337		35,807		—		—
Total	$	64,338	$	60,070	$	17,521	$	15,859

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


	March 31, 2026
	Less than 12 months				12 months or longer
			Gross				Gross
	Fair		Unrealized		Fair		Unrealized
Category (number of securities)	Value		Losses		Value		Losses
Residential mortgage-backed (1, 73)	$	483	$	(18)	$	19,340	$	(2,353)
Collateralized mortgage obligations (8, 15)		11,595		(109)		24,212		(1,421)
State and municipal (1, 9)		1,039		(26)		8,745		(1,126)
Corporate bonds (1, 14)		499		(1)		6,575		(925)
Total	$	13,616	$	(154)	$	58,872	$	(5,825)


	December 31, 2025
	Less than 12 months				12 months or longer
			Gross				Gross
	Fair		Unrealized		Fair		Unrealized
Category (number of securities)	Value		Losses		Value		Losses
Residential mortgage-backed (0, 77)	$	—	$	—	$	20,374	$	(2,213)
Collateralized mortgage obligations (2, 15)		2,538		(18)		24,891		(1,275)
State and municipal (1, 9)		1,065		—		8,872		(1,016)
Corporate bonds (4, 13)		2,871		(29)		5,572		(927)
Total	$	6,474	$	(47)	$	59,709	$	(5,431)

At March 31, 2026 and December 31, 2025, the Company had investment securities with approximately $5,825 and $5,431, respectively, in unrealized losses, which have been in continuous loss positions for more than twelve months. The Company’s assessments indicated that the cause of the unrealized losses was primarily the change in market interest rates and not the issuers’ financial condition or downgrades by rating agencies. The Company has the ability and intent to hold such securities until maturity.

The Company monitors credit quality of debt securities held-to-maturity through the use of nationally recognized

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

credit ratings. The Company monitors credit ratings on a continual basis. The following table summarizes bond ratings for the Company’s held-to-maturity portfolio, based upon amortized cost, issued by state and political subdivisions and other securities as of March 31, 2026 and December 31, 2025:


	March 31, 2026
	Residential mortgage-backed		State and municipal		U.S Government and agency
AAA	$	15,453	$	1,065	$	868
Baa1		—		135		—
	$	15,453	$	1,200	$	868


	December 31, 2025
	Residential mortgage-backed		State and municipal		U.S Government and agency
AAA	$	16,112	$	1,066	$	971
Baa1		—		134		—
	$	16,112	$	1,200	$	971

As of March 31, 2026 and December 31, 2025, there were no securities held to maturity on nonaccrual status or past due status.

Mortgage-backed Securities and Collateralized Mortgage Obligations

The unrealized losses on the Company’s investments in mortgage-backed securities and collateralized mortgage obligations were caused by market interest rate increases and changes in prepayment speeds and not credit quality. It is expected that the securities would not be settled at a price less than the amortized cost basis of the Company’s investments because the Company does not intend to sell the investments before recovery of their amortized cost basis, which may be maturity. The unrealized losses on the Company’s investment in mortgage-backed securities have not been recognized into income and no allowance for credit losses was established at March 31, 2026 or December 31, 2025.

U.S. Government and Agency Securities

The unrealized losses on the Company’s investments in U.S. government and agency securities have not been recognized into income and no allowance for credit losses was established because the bonds are of high credit quality, management does not intend to sell, and it is likely that management will not be required to sell the securities prior to their anticipated recovery, which may be at maturity. The decline in fair value is primarily due to increases in market interest rates and not credit quality deterioration and the fair value is expected to recover as the bonds approach maturity. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost basis of the Company’s investments. Therefore, an allowance for credit losses is deemed unnecessary at March 31, 2026 and December 31, 2025.

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

Municipal Securities and Corporate Bonds

The unrealized losses on the Company’s investments in state and municipal securities and corporate bonds have not been recognized into income and no allowance for credit losses was established because the bonds are of high credit quality, management does not intend to sell, and it is likely that management will not be required to sell the securities prior to their anticipated recovery, which may be at maturity. The decline in fair value is primarily due to increases in market interest rates and not credit quality deterioration and the fair value is expected to recover as the bonds approach maturity. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost basis of the Company’s investments. Therefore, an allowance for credit losses is deemed unnecessary at March 31, 2026 and December 31, 2025.

Note 4 - Loans and Allowance for Credit Losses

A summary of the balances of loans and leases follows:


	March 31,		December 31,
	2026		2025
Real estate
Construction and land	$	42,693	$	48,372
Farmland		17,490		17,085
1-4 Residential and multi-family		149,145		151,326
Commercial Real Estate		63,985		61,526
Total real estate		273,313		278,309
Agriculture		44		33
Commercial		9,259		8,813
Municipalities		15,229		14,890
Consumer and other		4,093		4,600
Subtotal		301,938		306,645
Less: allowance for credit losses		(3,437)		(3,440)
Loans and leases, net	$	298,501	$	303,205

Direct financing leases of $1,038 and $1,219 are included in consumer and other loans at March 31, 2026 and December 31, 2025, respectively.

The following tables set forth information regarding the activity in the allowance for credit losses for the three months ended March 31, 2026 and March 31, 2025:


		March 31, 2026
	Real Estate
Allowance for credit losses:	Construction and Land		Farmland		1-4 Residential & multi-family		Commercial real estate		Agriculture		Commercial		Municipalities		Consumer and other		Total
Balance, January 1, 2026	$	591	$	152	$	1,399	$	718	$	1	$	407	$	102	$	70	$	3,440
Provision (credit) for credit losses		—		(2)		(49)		33		—		17		(3)		10		6
Loans charged-off		—		—		—		—		—		—		—		(10)		(10)
Recoveries		—		—		—		—		—		—		—		1		1
Balance, March 31, 2026	$	591	$	150	$	1,350	$	751	$	1	$	424	$	99	$	71	$	3,437

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)


		March 31, 2025
	Real Estate
Allowance for credit losses:	Construction and Land		Farmland		1-4 Residential & multi-family		Commercial real estate		Agriculture		Commercial		Municipalities		Consumer and other		Total
Balance, January 1, 2025	$	632	$	74	$	1,355	$	605	$	1	$	375	$	83	$	97	$	3,222
Provision for credit losses		29		3		24		14		—		(16)		10		(1)		63
Loans charged-off		—		—		(3)		—		—		—		—		(10)		(13)
Recoveries		—		—		—		—		—		—		—		1		1
Balance, March 31, 2025	$	661	$	77	$	1,376	$	619	$	1	$	359	$	93	$	87	$	3,273

The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days and still accruing as of March 31, 2026 and December 31, 2025:


	March 31, 2026
	Nonaccrual without Allowance		Nonaccrual with Allowance		Loans Past Due Over 90 Days Still Accruing
Real estate
Construction and land	$	—	$	—	$	—
Farmland		—		—		—
1‑4 Residential & multi-family		955		—		—
Commercial real estate		40		—		—
Agriculture		—		—		—
Commercial		65		885		—
Municipalities		—		—		—
Consumer and other		4		—		—
Total	$	1,064	$	885	$	—


	December 31, 2025
	Nonaccrual without Allowance		Nonaccrual with Allowance		Loans Past Due Over 90 Days Still Accruing
Real estate
Construction and land	$	—	$	—	$	—
Farmland		—		—		—
1‑4 Residential & multi-family		968		—		—
Commercial real estate		42		—		—
Agriculture		—		—		—
Commercial		67		933		1
Municipalities		—		—		—
Consumer and other		4		—		—
Total	$	1,081	$	933	$	1

The Company did not recognize any interest income on nonaccrual loans during the three months ended March 31, 2026 or March 31, 2025.

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Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of March 31, 2026 and December 31, 2025:


	March 31, 2026
	Real Estate		Accounts Receivable and Inventory		Other
Real estate
1-4 Residential & multi-family	$	1,074	$	—	$	—
Commercial real estate		40		—		—
Commercial		—		235		715
Consumer and other		—		—		4
Total	$	1,114	$	235	$	719


	December 31, 2025
	Real Estate		Accounts Receivable and Inventory		Other
Real estate
1-4 Residential & multi-family	$	1,090	$	—	$	—
Commercial real estate		42		—		—
Commercial		—		247		753
Consumer and other		—		—		3
Total	$	1,132	$	247	$	756

The Company had $2,068 and $2,135 in collateral-dependent loans at March 31, 2026 and December 31, 2025, respectively.

Internal Risk Categories

A loan is considered collateral-dependent when based on current information and events; it is probable that the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Collateral dependent loans include nonperforming loans (nonaccrual loans), loans performing but with deterioration that leads to doubt regarding collectability.

Loans that do not share risk characteristics are evaluated on an individual basis. For collateral-dependent loans, where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the financial asset to be provided substantially through the operation or sale of the collateral, the allowance for credit losses is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the present value of expected cash flows from the operation of the collateral. When repayment is expected to be from the sale of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the fair value of the underlying

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

collateral, less estimated costs to sell. The allowance for credit losses may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the loan.

The Company monitors credit quality within its portfolio segments based on primary credit quality indicators. All of the Company’s loans and leases are evaluated using pass rated or reservable criticized as the primary credit quality indicator. The term reservable criticized refers to those loans and leases that are internally classified or listed by the Company as special mention, substandard, doubtful or loss. These assets pose an elevated risk and may have a high probability of default or total loss.

The classifications of loans and leases reflect a judgment about the risks of default and loss associated with the loan. The Company reviews the ratings on credits quarterly. Ratings are adjusted to reflect the degree of risk and loss that is felt to be inherent in each credit as of each quarterly reporting period.

The methodology is structured so that specific allocations are increased in accordance with deterioration in credit quality (and a corresponding increase in risk and loss) or decreased in accordance with improvement in credit quality (and a corresponding decrease in risk and loss).

Credits rated special mention show clear signs of financial weaknesses or deterioration in credit worthiness; however, such concerns are not so pronounced that the Company generally expects to experience significant loss within the short-term. Such credits typically maintain the ability to perform within standard credit terms and credit exposure is not as prominent as credits rated more harshly.

Credits rated substandard are those in which the normal repayment of principal and interest may be, or has been, jeopardized by reason of adverse trends or developments of a financial, managerial, economic or political nature, or important weaknesses exist in collateral. A protracted workout on these credits is a distinct possibility. Prompt corrective action is therefore required to strengthen the Company’s position, and/or to reduce exposure and to assure that adequate remedial measures are taken by the borrower. Credit exposure becomes more likely in such credits and a serious evaluation of the secondary support to the credit is performed.

Credits rated doubtful are those in which full collection of principal appears highly questionable, and which some degree of loss is anticipated, even though the ultimate amount of loss may not yet be certain and/or other factors exist which could affect collection of debt. Based upon available information, positive action by the Company is required to avert or minimize loss. Credits with this classification have often become collateral dependent and any shortage in collateral or other likely loss amount is recorded as a specific valuation allowance. Credits rated doubtful are generally also placed on nonaccrual status.

Credits rated loss are those that are considered uncollectable and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future.

Pass rated refers to loans that are not considered criticized. In addition to this primary credit quality indicator, the Company uses other credit quality indicators for certain types of loans.

The Company evaluates the loan risk grading system definitions and allowance for credit loss methodology on an ongoing basis. No significant changes in methodology were made during the three months ended March 31, 2026.

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)

Based on the most recent analysis performed, the risk category of loans by class of loans and gross chargeoffs as of March 31, 2026 and December 31, 2025 are as follows:


	March 31, 2026
	Term Loans Amortized Cost Basis by Origination Year
		2026		2025		2024		2023		2022		Prior		Total
Construction and land
Risk rating
Pass		$	2,616	$	18,671	$	16,061	$	1,710	$	1,506	$	1,689	$	42,253
Special mention			—		440		—		—		—		—		440
Substandard			—		—		—		—		—		—		—
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	2,616	$	19,111	$	16,061	$	1,710	$	1,506	$	1,689	$	42,693
Farmland
Risk rating
Pass		$	373	$	8,653	$	2,873	$	2,383	$	1,367	$	1,629	$	17,278
Special mention			—		—		—		—		212		—		212
Substandard			—		—		—		—		—		—		—
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	373	$	8,653	$	2,873	$	2,383	$	1,579	$	1,629	$	17,490
1-4 Residential & multi-family
Risk rating
Pass		$	9,061	$	12,757	$	10,651	$	20,404	$	16,206	$	77,155	$	146,234
Special mention			—		—		—		275		—		646		921
Substandard			—		—		—		1,314		—		676		1,990
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	9,061	$	12,757	$	10,651	$	21,993	$	16,206	$	78,477	$	149,145
Commercial real estate
Risk rating
Pass		$	3,082	$	14,154	$	13,271	$	12,943	$	4,866	$	14,968	$	63,284
Special mention			—		—		—		—		—		661		661
Substandard			—		—		—		—		—		40		40
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	3,082	$	14,154	$	13,271	$	12,943	$	4,866	$	15,669	$	63,985
Agriculture
Risk rating
Pass		$	17	$	—	$	—	$	23	$	—	$	4	$	44
Special mention			—		—		—		—		—		—		—
Substandard			—		—		—		—		—		—		—
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	17	$	—	$	—	$	23	$	—	$	4	$	44
Commercial
Risk rating
Pass		$	742	$	1,042	$	2,272	$	252	$	186	$	3,807	$	8,301
Special mention			—		—		—		—		—		—		—
Substandard			—		8		65		—		—		885		958
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	742	$	1,050	$	2,337	$	252	$	186	$	4,692	$	9,259
Municipalities
Risk rating
Pass		$	633	$	5,829	$	8,021	$	746	$	—	$	—	$	15,229
Special mention			—		—		—		—		—		—		—
Substandard			—		—		—		—		—		—		—
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	633	$	5,829	$	8,021	$	746	$	—	$	—	$	15,229
Consumer and other
Risk rating
Pass		$	608	$	1,339	$	1,376	$	230	$	110	$	401	$	4,064
Special mention			—		19		2		2		—		—		23
Substandard			—		6		—		—		—		—		6
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	608	$	1,364	$	1,378	$	232	$	110	$	401	$	4,093
Current period gross charge-offs		$	8	$	2	$	—	$	—	$	—	$	—	$	10

Table of Contents

Texas Community Bancshares, Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2026 and 2025

(Amounts in thousands, except share, per share data, and percentages)


	December 31, 2025
	Term Loans Amortized Cost Basis by Origination Year
		2025		2024		2023		2022		2021		Prior		Total
Construction and land
Risk rating
Pass		$	17,279	$	19,483	$	8,354	$	1,522	$	585	$	1,149	$	48,372
Special mention			—		—		—		—		—		—		—
Substandard			—		—		—		—		—		—		—
Doubtful			—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
		$	17,279	$	19,483	$	8,354

Texas Community Bancshares, Inc. 10-Q