TX Community Bancshares Completes IPO

Texas Community Bancshares Inc. has completed its initial public offering in connection with the conversion of Mineola Community Mutual Holding Company from the mutual holding company to the stock-holding company form of organization. The company’s common stock began trading on the Nasdaq Capital Market under the trading symbol TCBS last week.

The company sold a total of 3,207,759 shares of common stock, which includes 260,621 shares sold to Mineola Community Bank’s Employee Stock Ownership Plan at a price of $10.00 per share. The company also contributed 50,000 shares of common stock and $75,000 in cash to the TCBS Foundation Inc., a charitable foundation formed in connection with the conversion and dedicated to supporting charitable organizations operating in Mineola Community Bank’s local community. A total of 3,257,759 shares of common stock of the company are issued and outstanding.