Texas Community Bancshares reported second-quarter net income of $970,000, up 43.1% from $678,000 a year earlier. Earnings per share increased 52.2% to 35 cents from 23 cents, while net interest income rose 15.9% to $3.68 million. The net interest margin expanded to 3.69% from 3.09%, driven by a 66-basis-point increase in average loan yield to 6.35% and a 12-basis-point decline in the average cost of interest-bearing deposits to 2.35%. Total assets grew 3.4% to $444.3 million, and the company repurchased 13,500 shares for $257,000 while declaring a 6-cent dividend.
Texas Community Bancshares IncQ2 earnings rose 43.1% with higher net interest income and margin expansion, plus share repurchases and dividend.
