Texas munity Bancshares(US:TCBS)2025-05-01 21:25Financial Performance - Texas Community Bancshares reported net income of $643,000 for Q1 2025, compared to a net loss of $2.7 million in Q1 2024, marking the fourth consecutive quarter of net income growth[1][2]. - Noninterest income surged by $4.1 million, or 113.9%, to $462,000 in Q1 2025, recovering from a loss of $3.6 million in Q1 2024[3]. Income and Expenses - Net interest income increased by $365,000, or 12.3%, to $3.3 million for Q1 2025, driven by a 45 basis point increase in net interest margin from 2.79% to 3.24%[2]. - Average loan yields rose by 61 basis points to 5.88% in Q1 2025, compared to 5.27% in Q1 2024, reflecting a strategic shift towards higher yielding commercial loans[2]. - Noninterest expense decreased by $143,000, or 4.7%, to $2.9 million in Q1 2025, primarily due to reductions in occupancy, equipment, and technology expenses[5]. Credit and Capital - The provision for credit losses was recorded at $113,000 for Q1 2025, with an allowance for credit losses to total loans ratio of 1.09%[5][6]. - Total shareholders' equity increased by $647,000, or 1.2%, to $52.8 million at March 31, 2025, supported by net income and a reduction in accumulated other comprehensive loss[7]. - Broadstreet Bank maintained a leverage ratio of 11.09% as of March 31, 2025, indicating it is well-capitalized under the community bank leverage ratio framework[8]. Asset Management - The bank's total assets decreased slightly to $442.2 million at March 31, 2025, from $443.5 million at December 31, 2024[10]. Strategic Initiatives - Texas Community Bancshares has approved a stock repurchase program for up to 5% of outstanding common shares, reflecting confidence in future growth prospects[2].