Go to Text Group, right click Duplicate group. Call this new group Rasterized Text.
Select all the layers from this group, right click and choose Merge Layers.
The result is one layer, call it Shape.
Press CTRL + layer Thumbnail...you will see that the text will be selected.
Go to Texture Layer and press CTRL+C and CTRL+V.....
now you will have the text with the texture in a new layer, set opacity of to 55 %
and call it New Texture. Hide Texture Layer.
Step 6 - Add cracks
Select Shape Layer and New Texture Layer and merge the two layers into one call it Shape.
Duplicate Shadow group, call the new group Rasterized Shadow and merge all the layers from this group. The result is one layer, call it Shadow.
Hide the initial groups: Text group and Shadow group.
Your screen should look like this:
Now with the Pen Tool make craks, color # 17487f. You don't have to draw perfect from the first time because with vectors you can change the shape after you drawn it. You can add a point, delete a point or move the point.
You can see that the crack is very thin so you can obtain this result either by Zoom In the image (CTRL++) or by adding a new point where you want and than with the keyboard arrows place it in the right place.
Now Duplicate all this layers with craks and merge the duplicated ones into a new layer called Cracks. We will work with this effect later on.
Step 7 - Add depth to the text
Do you remember Shadow Layer? Duplicate that layer (so we can have a copy in case of something is going wrong) and lets start adding depth.
Go to Blending Options of this layer and check Color : 100 % opacity, blend mode - normal, color #3177ad . Check also Stroke: size - 1, position - outside, blend mode - normal, opacity 100%, fill type - color, color #1f6397 . Duplicate the layer and merge the two layers.
Take the Burn Tool, size 9 px , range - midtones, expossure 5%(it is better to exposse the area many times with a low expossure than to exposse to much and spoile everything).
Start burning the area following the edges and the direction of the depth. Take your time on this step. I did some mistakes but I hope you will not notice. Change the size of the tool to 4 px and make darker lines. Use also the Dodge Tool and Sponge Tool (Saturate) to make a bigger contrast, because this is a cartoon text.
Step 8 - Work with Crack Layer
Press CTRL and Thumbnail of the crack layer, than go to Shape Layer and delete the section. It will look something like this if you hide Crack Layer.