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Form 8-K

sec.gov

8-K — Catalyst Bancorp, Inc.

Accession: 0001849867-26-000007

Filed: 2026-04-30

Period: 2026-04-30

CIK: 0001849867

SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — clst-20260430x8k.htm (Primary)

EX-99.1 (clst-20260430xex99d1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: clst-20260430x8k.htm · Sequence: 1

Catalyst Bancorp, Inc._April 30, 2026

0001849867false00018498672026-04-302026-04-30

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

​

Washington, D.C. 20549

​

FORM 8-K

​

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

​

​

​

Date of Report (Date of earliest event reported)

April 30, 2026

​

Catalyst Bancorp, Inc.

(Exact name of registrant as specified in its charter)

​

​

​

​

Louisiana

001-40893

86-2411762

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

​

​

​

​

​

235 N. Court Street, Opelousas, Louisiana

70570

(Address of principal executive offices)

(Zip Code)

​

​

​

Registrant’s telephone number, including area code

(337) 948-3033

​

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

​

​

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

​

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

​

​

​

Title of each Class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock

CLST

Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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. ☐

​

​

​

​

​

ITEM 2.02 Results of Operations and Financial Condition

On April 30, 2026, Catalyst Bancorp, Inc. (the “Company”) announced its results for the quarter ended March 31, 2026. A copy of the related press release (the "Press Release") is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished under items 2.02 and 9.01 of this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section, and it shall not be deemed incorporated by reference in any filing under the Exchange Act, or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing to this Form 8-K.

​

​

​

ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are included herein:

​

​

​

Exhibit Number

​

Description

99.1

​

Press Release, dated April 30, 2026

104

​

Cover Page Interactive Data File. Embedded within the Inline XBRL document.

​

​

​

2

​

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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​

​

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​

​

CATALYST BANCORP, INC.

​

​

​

​

​

Date:

April 30, 2026

​

By:

/s/ Joseph B. Zanco

​

​

​

​

Joseph B. Zanco

​

​

​

​

President and Chief Executive Officer

​

​

​

​

​

3

EX-99.1

EX-99.1

Filename: clst-20260430xex99d1.htm · Sequence: 2

For Immediate Release

Exhibit 99.1

For more information:

Joe Zanco, President and CEO

(337) 948-3033

​

For Immediate Release

Release Date: April 30, 2026

​

Catalyst Bancorp, Inc. Announces 2026 First Quarter Results

Opelousas, Louisiana – Catalyst Bancorp, Inc. (Nasdaq: “CLST”) (the “Company”), the parent company for Catalyst Bank (the “Bank”) (www.catalystbank.com), reported net income of $558,000, or $0.15 per diluted common share (“diluted EPS”), for the first quarter of 2026, compared to net income of $456,000, or $0.13 diluted EPS, for the fourth quarter of 2025. The Company’s net income for the first quarter of 2026 included professional fees of $95,000 (pre-tax) related to our agreement to acquire Lakeside Bancshares, Inc. and its subsidiary, Lakeside Bank (collectively referred to as “Lakeside”).

​

“Our team is fully engaged in preparing for our growth in Southwest Louisiana through the Lakeside acquisition,” said Joe Zanco, President and Chief Executive Officer of the Company and Bank. “At the same time, we remain focused on winning new business organically and expanding existing relationships. As a result of our team’s efforts, we continue to see improvement in our financial performance.”

​

Loans

​

Loans totaled $163.7 million at March 31, 2026, down $6.5 million, or 4%, from December 31, 2025. The following table sets forth the composition of the Company’s loan portfolio as of the dates indicated.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

3/31/2026

​

12/31/2025

​

Change

Real estate loans

​

​

​

​

​

​

​

​

​

​

​

​

One- to four-family residential

​

$

78,093

​

$

80,123

​

$

(2,030)

​

(3)

%

Commercial real estate

​

​

33,673

​

​

32,872

​

​

801

​

2

​

Construction and land

​

​

19,761

​

​

18,806

​

​

955

​

5

​

Multi-family residential

​

​

4,781

​

​

5,309

​

​

(528)

​

(10)

​

Total real estate loans

​

​

136,308

​

​

137,110

​

​

(802)

​

(1)

​

Other loans

​

​

​

​

​

​

​

​

​

​

​

​

Commercial and industrial

​

​

25,626

​

​

31,205

​

​

(5,579)

​

(18)

%

Consumer

​

​

1,743

​

​

1,895

​

​

(152)

​

(8)

​

Total other loans

​

​

27,369

​

​

33,100

​

​

(5,731)

​

(17)

​

Total loans

​

$

163,677

​

$

170,210

​

$

(6,533)

​

(4)

​

​

During the first quarter of 2026, a $5.9 million commercial and industrial loan relationship paid off after the sale of the borrower’s business.

​

​

1

​

The following table presents certain major segments of our commercial real estate, construction and land, and commercial and industrial loan balances as of the dates indicated.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

3/31/2026

​

12/31/2025

​

Change

Commercial real estate

​

​

​

​

​

​

​

​

​

​

​

​

Retail

​

$

9,273

​

$

9,455

​

$

(182)

​

(2)

%

Hospitality

​

​

5,519

​

​

5,632

​

​

(113)

​

(2)

​

Health service facilities

​

​

4,911

​

​

3,300

​

​

1,611

​

49

​

Restaurants

​

​

1,047

​

​

1,071

​

​

(24)

​

(2)

​

Oilfield services

​

​

355

​

​

365

​

​

(10)

​

(3)

​

Other non-owner occupied

​

​

2,322

​

​

2,349

​

​

(27)

​

(1)

​

Other owner occupied

​

​

10,246

​

​

10,700

​

​

(454)

​

(4)

​

Total commercial real estate

​

$

33,673

​

$

32,872

​

$

801

​

2

​

Construction and land

​

​

​

​

​

​

​

​

​

​

​

​

Multi-family residential

​

$

5,783

​

$

4,749

​

$

1,034

​

22

%

Health service facilities

​

​

9,698

​

​

10,547

​

​

(849)

​

(8)

​

Other commercial construction and land

​

​

2,436

​

​

2,112

​

​

324

​

15

​

Consumer residential construction and land

​

​

1,844

​

​

1,398

​

​

446

​

32

​

Total construction and land

​

$

19,761

​

$

18,806

​

$

955

​

5

​

Commercial and industrial

​

​

​

​

​

​

​

​

​

​

​

​

Oilfield services

​

$

17,959

​

$

17,295

​

$

664

​

4

%

Industrial equipment

​

​

986

​

​

7,064

​

​

(6,078)

​

(86)

​

Professional services

​

​

3,250

​

​

3,531

​

​

(281)

​

(8)

​

Other commercial and industrial

​

​

3,431

​

​

3,315

​

​

116

​

3

​

Total commercial and industrial loans

​

$

25,626

​

$

31,205

​

$

(5,579)

​

(18)

​

​

A $1.6 million construction loan, included in the health service facilities category in the table above, converted to a commercial real estate loan during the first quarter of 2026. Multi-family residential construction loan growth was largely driven by new apartment homes in Lafayette Parish.

​

Credit Quality and Allowance for Credit Losses

​

At March 31, 2026 and December 31, 2025, non-performing assets (“NPAs”) totaled $2.7 million. The ratio of NPAs to total assets was 0.94% and 0.95% at March 31, 2026 and December 31, 2025, respectively. Non-performing loans (“NPLs”) were 1.64% and 1.55% of total loans at March 31, 2026 and December 31, 2025, respectively. During the first quarter of 2026, a $304,000 commercial real estate loan was placed on non-accrual status. At March 31, 2026, 82% of total NPLs were one- to four-family residential mortgage loans, compared to 95% at December 31, 2025.

​

At March 31, 2026, the allowance for credit losses on loans totaled $2.3 million, or 1.40% of total loans, compared to $2.4 million, or 1.39% of total loans, at December 31, 2025. The Company recorded a $70,000 reversal of provision for credit losses for the first quarter of 2026, compared to a $96,000 provision for credit losses for the fourth quarter of 2025. The reversal of expected credit losses recorded in the first quarter of 2026 was primarily driven by declines in commercial and industrial and residential loan balances. Net loan charge-offs totaled $37,000 during the first quarter of 2026, compared to net charge-offs of $42,000 during the fourth quarter of 2025. Net loan charge-offs in 2026 included a $28,000 charge-off of a commercial line of credit.

​

Investment Securities

​

Total investment securities were $63.1 million, or 22% of total assets, at March 31, 2026, down $2.3 million, or 3%, compared to December 31, 2025. We did not purchase investment securities in the first quarter of 2026. During the fourth quarter of 2025, we purchased $7.4 million of government-sponsored mortgage-backed securities. The weighted average yield of the securities purchased during the fourth quarter of 2025 was 4.39% at March 31, 2026.

2

​

Deposits

​

Total deposits were $195.4 million at March 31, 2026, up $10.1 million, or 5%, from December 31, 2025. Total deposits averaged $198.2 million during the first quarter of 2026, compared to $181.5 million during the fourth quarter of 2025. The ratio of the Company’s total loans to total deposits was 84% and 92% at March 31, 2026 and December 31, 2025, respectively.

​

The following table sets forth the composition of the Company’s deposits as of the dates indicated.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

3/31/2026

​

12/31/2025

​

Change

Non-interest-bearing demand deposits

​

$

34,739

​

$

29,991

​

$

4,748

​

16

%

Interest-bearing demand deposits

​

​

33,249

​

​

32,851

​

​

398

​

1

​

Money market

​

​

9,296

​

​

10,235

​

​

(939)

​

(9)

​

Savings

​

​

60,525

​

​

53,831

​

​

6,694

​

12

​

Certificates of deposit

​

​

57,564

​

​

58,366

​

​

(802)

​

(1)

​

Total deposits

​

$

195,373

​

$

185,274

​

$

10,099

​

5

​

​

The increase in total average deposits for the first quarter compared to the prior quarter and total deposits at the end of each period shown in the table above was driven by a mix of public and non-public deposits.

​

Total public fund deposits were $29.8 million, or 15% of total deposits, at March 31, 2026, compared to $26.4 million, or 14% of total deposits, at December 31, 2025. During the first quarter of 2026, total public fund deposits averaged $35.6 million, compared to $24.7 million during the fourth quarter of 2025. The increases were largely due to seasonal fluctuations.

​

Capital and Share Repurchases

​

At March 31, 2026 and December 31, 2025, consolidated shareholders’ equity totaled $82.2 million, or 28.5% of total assets, and $81.7 million, or 28.9% of total assets, respectively.

​

The Company repurchased 16,614 shares of its common stock at an average cost per share of $15.71 during the first quarter of 2026, compared to 54,693 shares at an average cost per share of $14.76 during the fourth quarter of 2025. The Company paused share repurchases temporarily during the first quarter of 2026 while conducting due diligence and negotiations related to our agreement to acquire Lakeside.

​

During the fourth quarter of 2025, the Company announced our sixth share repurchase plan (the “November 2025 Repurchase Plan”). Under the November 2025 Repurchase Plan, the Company may purchase up to 205,000 shares, or approximately 5%, of the Company's outstanding common stock. At March 31, 2026, 172,297 shares of the Company’s common stock were available for repurchase under the November 2025 Repurchase Plan. We expect to resume repurchases during the second quarter of 2026.

​

Since the announcement of our first share repurchase plan on January 26, 2023 and through March 31, 2026, the Company has repurchased a total of 1,231,703 shares of its common stock, or 23% of the common shares originally issued, at an average cost per share of $12.11. At March 31, 2026, the Company had common shares outstanding of 4,058,297.

​

​

3

​

Net Interest Income

The net interest margin for the first quarter of 2026 was 3.83%, down eight basis points compared to the prior quarter. For the first quarter of 2026, the average yield on interest-earning assets was 5.36%, down 17 basis points from the prior quarter, and the average rate paid on interest-bearing liabilities was 2.35%, down 15 basis points from the fourth quarter of 2025. Net interest income for the first quarter of 2026 was $2.5 million, up $38,000, or 2%, compared to the fourth quarter of 2025.

Total interest income was up $22,000, or 1%, in the first quarter of 2026 compared to the prior quarter largely due to an increase in income on cash and due from banks, which was partially offset by a decline in interest income on loans. The change in interest income was largely the result of an increase in the volume of interest earning cash, which was mainly fueled by deposit growth during first quarter of 2026.

Total interest expense decreased $16,000, or 2%, in the first quarter of 2026 compared to the prior quarter. The decline in interest expense was mainly due to lower borrowings expense. We paid off a short-term Federal Home Loan Bank advance during the first quarter of 2026. The average cost of interest-bearing deposits was 2.30% during the first quarter of 2026, down 15 basis points from the prior quarter.

The following table sets forth, for the periods indicated, the Company’s total dollar amount of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Taxable equivalent (“TE”) yields have been calculated using a marginal tax rate of 21%. All average balances are based on daily balances.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

​

3/31/2026

​

12/31/2025

(Dollars in thousands)

​

Average Balance

Interest

​

Average Yield/ Rate(TE)

​ ​ ​

Average Balance

Interest

​

Average Yield/ Rate(TE)

INTEREST-EARNING ASSETS

​

​

​

​

​

​

​

​

Loans receivable(1)

​

$

168,545

​

$

2,749

​

6.61

%

​

$

167,335

​

$

2,815

​

6.68

%

Investment securities(2)

​

​

67,529

​

​

522

​

3.13

​

​

​

65,352

​

​

511

​

3.17

​

Other interest earning assets

​

​

33,760

​

​

299

​

3.60

​

​

​

22,567

​

​

222

​

3.91

​

Total interest-earning assets

​

$

269,834

​

$

3,570

​

5.36

​

​

$

255,254

​

$

3,548

​

5.53

​

INTEREST-BEARING LIABILITIES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Demand deposits, money market, and savings accounts

​

$

107,158

​

$

494

​

1.87

%

​

$

93,710

​

$

467

​

1.98

%

Certificates of deposit

​

​

58,086

​

​

445

​

3.10

​

​

​

58,677

​

​

475

​

3.21

​

Total interest-bearing deposits

​

​

165,244

​

​

939

​

2.30

​

​

​

152,387

​

​

942

​

2.45

​

Borrowings

​

​

11,110

​

​

86

​

3.11

​

​

​

12,884

​

​

99

​

3.08

​

Total interest-bearing liabilities

​

$

176,354

​

$

1,025

​

2.35

​

​

$

165,271

​

$

1,041

​

2.50

​

Net interest-earning assets

​

$

93,480

​

​

​

​

​

​

​

$

89,983

​

​

​

​

​

​

Net interest income; average interest rate spread

​

​

​

​

$

2,545

​

3.01

%

​

​

​

​

$

2,507

​

3.03

%

Net interest margin(3)

​

​

​

​

​

​

​

3.83

​

​

​

​

​

​

​

​

3.91

​

​

(1) Includes non-accrual loans during the respective periods. Calculated net of deferred fees and discounts and loans in-process.

(2) Average investment securities does not include unrealized holding gains/losses on available-for-sale securities.

(3) Equals net interest income divided by average interest-earning assets. Taxable equivalent yields are calculated using a marginal tax rate of 21%.

4

​

Non-interest Income

​

Non-interest income for the first quarter of 2026 totaled $352,000, down $10,000, or 3%, compared to the fourth quarter of 2025, primarily due to a decline in income from service charges on deposit accounts.

​

Non-interest Expense

​

Non-interest expense for the first quarter of 2026 totaled $2.3 million, up $61,000, or 3%, compared to the fourth quarter of 2025. Professional fees for the first quarter of 2026 totaled $185,000, up $87,000, or 89%, from the prior quarter. The Company incurred $95,000 (pre-tax) of professional fees during the first quarter of 2026 related to our agreement to acquire Lakeside.

​

​

5

​

About Catalyst Bancorp, Inc.

​

Catalyst Bancorp, Inc. (Nasdaq: CLST) is a Louisiana corporation and registered bank holding company for Catalyst Bank, its wholly-owned subsidiary, with $288.5 million in assets at March 31, 2026. Catalyst Bank, formerly St. Landry Homestead Federal Savings Bank, has been in operation in the Acadiana region of south-central Louisiana since 1922. With a focus on fueling business and improving lives throughout the region, Catalyst Bank offers commercial and retail banking products through our six full-service branches located in Carencro, Eunice, Lafayette, Opelousas, and Port Barre. To learn more about Catalyst Bancorp and Catalyst Bank, visit www.catalystbank.com, or the website of the Securities and Exchange Commission, www.sec.gov.

​

Forward-looking Statements

​

This news release reflects industry conditions, Company performance and financial results and contains “forward-looking statements,’ which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. These forward-looking statements are subject to a number of risk factors and uncertainties which could cause the Company’s actual results and experience to differ materially from the anticipated results and expectation expressed in such forward-looking statements.

Factors that could cause our actual results to differ materially from our forward-looking statements are described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Supervision and Regulation” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC’s website and the Company’s website, each of which are referenced above. To the extent that statements in this news release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology.

Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. All information is as of the date of this news release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

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6

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CATALYST BANCORP, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

​

​

​

​

​

​

​

​

​

​

​

​

(Unaudited)

​

​

​

(Unaudited)

(Dollars in thousands)

3/31/2026

​ ​ ​

12/31/2025

​

3/31/2025

ASSETS

​

​

​

Non-interest-bearing cash

​

$

4,898

​

$

4,132

​

$

4,128

Interest-bearing cash and due from banks

​

​

33,635

​

​

21,073

​

​

36,190

Total cash and cash equivalents

​

​

38,533

​

​

25,205

​

​

40,318

Investment securities:

​

​

​

​

​

​

​

​

​

Securities available-for-sale, at fair value

​

​

48,216

​

​

50,467

​

​

29,840

Securities held-to-maturity

​

​

14,914

​

​

14,917

​

​

13,445

Loans receivable, net of unearned income

​

​

163,677

​

​

170,210

​

​

166,077

Allowance for credit losses

​

​

(2,295)

​

​

(2,367)

​

​

(2,500)

Loans receivable, net

​

​

161,382

​

​

167,843

​

​

163,577

Accrued interest receivable

​

​

849

​

​

907

​

​

866

Foreclosed assets

​

​

34

​

​

34

​

​

77

Premises and equipment, net

​

​

5,749

​

​

5,850

​

​

6,049

Stock in correspondent banks, at cost

​

​

1,963

​

​

1,139

​

​

809

Bank-owned life insurance

​

​

15,117

​

​

14,983

​

​

14,607

Other assets

​

​

1,751

​

​

1,582

​

​

2,060

TOTAL ASSETS

​

$

288,508

​

$

282,927

​

$

271,648

​

​

​

​

​

​

​

​

​

​

LIABILITIES

​

​

​

​

​

​

​

​

​

Deposits:

​

​

​

​

​

​

​

​

​

Non-interest-bearing

​

$

34,739

​

$

29,991

​

$

26,093

Interest-bearing

​

​

160,634

​

​

155,283

​

​

154,505

Total deposits

​

​

195,373

​

​

185,274

​

​

180,598

Borrowings

​

​

9,759

​

​

14,732

​

​

9,603

Other liabilities

​

​

1,167

​

​

1,196

​

​

856

TOTAL LIABILITIES

​

​

206,299

​

​

201,202

​

​

191,057

​

​

​

​

​

​

​

​

​

​

SHAREHOLDERS' EQUITY

​

​

​

​

​

​

​

​

​

Common stock

​

​

41

​

​

41

​

​

42

Additional paid-in capital

​

​

37,303

​

​

37,363

​

​

38,844

Unallocated common stock held by benefit plans

​

​

(5,129)

​

​

(5,182)

​

​

(5,649)

Retained earnings

​

​

52,470

​

​

51,912

​

​

50,446

Accumulated other comprehensive loss

​

​

(2,476)

​

​

(2,409)

​

​

(3,092)

TOTAL SHAREHOLDERS' EQUITY

​

​

82,209

​

​

81,725

​

​

80,591

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

​

$

288,508

​

$

282,927

​

$

271,648

​

​

​

7

​

​

​

​

​

​

​

​

​

​

​

CATALYST BANCORP, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

(Dollars in thousands)

​

3/31/2026

12/31/2025

3/31/2025

INTEREST INCOME

​

​

​

​

Loans receivable, including fees

​

$

2,749

​

$

2,815

​

$

2,738

Investment securities

​

​

522

​

​

511

​

​

275

Cash and due from banks

​

​

290

​

​

215

​

​

341

Other

​

​

9

​

​

7

​

​

20

Total interest income

​

​

3,570

​

​

3,548

​

​

3,374

INTEREST EXPENSE

​

​

​

​

​

​

​

​

​

Deposits

​

​

939

​

​

942

​

​

941

Borrowings

​

​

86

​

​

99

​

​

68

Total interest expense

​

​

1,025

​

​

1,041

​

​

1,009

Net interest income

​

​

2,545

​

​

2,507

​

​

2,365

Provision for (reversal of) credit losses

​

​

(70)

​

​

96

​

​

-

Net interest income after provision for (reversal of) credit losses

​

​

2,615

​

​

2,411

​

​

2,365

NON-INTEREST INCOME

​

​

​

​

​

​

​

​

​

Service charges on deposit accounts

​

​

202

​

​

210

​

​

197

Bank-owned life insurance

​

​

134

​

​

134

​

​

118

Other

​

​

16

​

​

18

​

​

22

Total non-interest income

​

​

352

​

​

362

​

​

337

NON-INTEREST EXPENSE

​

​

​

​

​

​

​

​

​

Salaries and employee benefits

​

​

1,321

​

​

1,334

​

​

1,245

Occupancy and equipment

​

​

209

​

​

196

​

​

199

Data processing and communication

​

​

180

​

​

181

​

​

182

Professional fees

​

​

185

​

​

98

​

​

101

Directors’ fees

​

​

121

​

​

123

​

​

114

Foreclosed assets, net

​

​

-

​

​

17

​

​

(127)

Advertising and marketing

​

​

33

​

​

37

​

​

39

Other

​

​

234

​

​

236

​

​

229

Total non-interest expense

​

​

2,283

​

​

2,222

​

​

1,982

Income before income tax expense

​

​

684

​

​

551

​

​

720

Income tax expense

​

​

126

​

​

95

​

​

134

NET INCOME

​

$

558

​

$

456

​

$

586

​

​

​

​

​

​

​

​

​

​

Earnings per share:

​

​

​

​

​

​

​

​

​

Basic

​

$

0.16

​

$

0.13

​

$

0.16

Diluted

​

​

0.15

​

​

0.13

​

​

0.16

​

​

8

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

CATALYST BANCORP, INC.

SELECTED FINANCIAL DATA

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

(Dollars in thousands)

​

3/31/2026

​ ​ ​

12/31/2025

​ ​ ​

3/31/2025

EARNINGS DATA

​

​

​

​

​

​

​

​

​

​

​

​

Total interest income

​

$

3,570

​

​

$

3,548

​

​

$

3,374

​

Total interest expense

​

​

1,025

​

​

​

1,041

​

​

​

1,009

​

Net interest income

​

​

2,545

​

​

​

2,507

​

​

​

2,365

​

Provision for (reversal of) credit losses

​

​

(70)

​

​

​

96

​

​

​

-

​

Total non-interest income

​

​

352

​

​

​

362

​

​

​

337

​

Total non-interest expense

​

​

2,283

​

​

​

2,222

​

​

​

1,982

​

Income tax expense

​

​

126

​

​

​

95

​

​

​

134

​

Net income

​

$

558

​

​

$

456

​

​

$

586

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AVERAGE BALANCE SHEET DATA

​

​

​

​

​

​

​

​

​

​

​

​

Total loans

​

$

168,545

​

​

$

167,335

​

​

$

166,145

​

Total interest-earning assets

​

​

269,834

​

​

​

255,254

​

​

​

246,690

​

Total assets

​

​

292,752

​

​

​

277,546

​

​

​

268,232

​

Total interest-bearing deposits

​

​

165,244

​

​

​

152,387

​

​

​

149,979

​

Total interest-bearing liabilities

​

​

176,354

​

​

​

165,271

​

​

​

159,552

​

Total deposits

​

​

198,160

​

​

​

181,537

​

​

​

177,106

​

Total shareholders' equity

​

​

82,141

​

​

​

81,739

​

​

​

80,426

​

​

​

​

​

​

​

​

​

​

​

​

​

​

SELECTED RATIOS

​

​

​

​

​

​

​

​

​

​

​

​

Return on average assets

​

​

0.77

%

​

​

0.65

%

​

​

0.89

%

Return on average equity

​

​

2.76

​

​

​

2.22

​

​

​

2.96

​

Efficiency ratio

​

​

78.79

​

​

​

77.40

​

​

​

73.34

​

Net interest margin(TE)

​

​

3.83

​

​

​

3.91

​

​

​

3.89

​

Average equity to average assets

​

​

28.06

​

​

​

29.45

​

​

​

29.98

​

Common equity Tier 1 capital ratio(1)

​

​

44.29

​

​

​

42.45

​

​

​

46.95

​

Tier 1 leverage capital ratio(1)

​

​

26.22

​

​

​

27.36

​

​

​

29.45

​

Total risk-based capital ratio(1)

​

​

45.55

​

​

​

43.71

​

​

​

48.20

​

​

​

​

​

​

​

​

​

​

​

​

​

​

NON-FINANCIAL DATA

​

​

​

​

​

​

​

​

​

​

​

​

Total employees (full-time equivalent)

​

​

49

​

​

​

49

​

​

​

49

​

Common shares issued and outstanding, end of period

​

​

4,058,297

​

​

​

4,074,911

​

​

​

4,205,201

​

​

(1) Capital ratios are preliminary end-of-period ratios for the Bank only and are subject to change.

​

9

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

CATALYST BANCORP, INC.

SELECTED FINANCIAL DATA

(continued)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

(Dollars in thousands)

​

3/31/2026

​ ​ ​

12/31/2025

​ ​ ​

3/31/2025

ALLOWANCE FOR CREDIT LOSSES

​

​

​

​

​

​

​

​

​

​

​

​

Loans:

​

​

​

​

​

​

​

​

​

​

​

​

Beginning balance

​

$

2,367

​

​

$

2,397

​

​

$

2,522

​

Provision for (reversal of) credit losses

​

​

(35)

​

​

​

12

​

​

​

17

​

Charge-offs

​

​

(49)

​

​

​

(60)

​

​

​

(53)

​

Recoveries

​

​

12

​

​

​

18

​

​

​

14

​

Net charge-offs

​

​

(37)

​

​

​

(42)

​

​

​

(39)

​

Ending balance

​

$

2,295

​

​

$

2,367

​

​

$

2,500

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unfunded commitments:

​

​

​

​

​

​

​

​

​

​

​

​

Beginning balance

​

$

211

​

​

$

127

​

​

$

121

​

Provision for (reversal of) credit losses on unfunded commitments

​

​

(35)

​

​

​

84

​

​

​

(17)

​

Ending balance

​

$

176

​

​

$

211

​

​

$

104

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total provision for (reversal of) credit losses

​

$

(70)

​

​

$

96

​

​

$

-

​

​

​

​

​

​

​

​

​

​

​

​

​

​

CREDIT QUALITY(1)

​

​

​

​

​

​

​

​

​

​

​

​

Non-accruing loans

​

$

2,432

​

​

$

2,248

​

​

$

1,554

​

Accruing loans 90 days or more past due

​

​

246

​

​

​

395

​

​

​

91

​

Total non-performing loans

​

​

2,678

​

​

​

2,643

​

​

​

1,645

​

Foreclosed assets

​

​

34

​

​

​

34

​

​

​

77

​

Total non-performing assets

​

$

2,712

​

​

$

2,677

​

​

$

1,722

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total non-performing loans to total loans

​

​

1.64

%

​

​

1.55

%

​

​

0.99

%

Total non-performing assets to total assets

​

​

0.94

​

​

​

0.95

​

​

​

0.63

​

​

(1) Credit quality data and ratios are as of the end of each period presented.

10

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Apr. 30, 2026

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Entity Incorporation, State or Country Code

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Entity File Number

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Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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