Form 8-K
8-K — Catalyst Bancorp, Inc.
Accession: 0001849867-26-000016
Filed: 2026-07-30
Period: 2026-07-30
CIK: 0001849867
SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — clst-20260730x8k.htm (Primary)
EX-99.1 (clst-20260730xex99d1.htm)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: clst-20260730x8k.htm · Sequence: 1
Catalyst Bancorp, Inc._July 30, 2026
0001849867false00018498672026-07-302026-07-30
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)
July 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 July 30, 2026, Catalyst Bancorp, Inc. (the “Company”) announced its results for the quarter ended June 30, 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 July 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.
CATALYST BANCORP, INC.
Date:
July 30, 2026
By:
/s/ Joseph B. Zanco
Joseph B. Zanco
President and Chief Executive Officer
3
EX-99.1
EX-99.1
Filename: clst-20260730xex99d1.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: July 30, 2026
Catalyst Bancorp, Inc. Announces 2026 Second 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 $524,000, or $0.14 per diluted common share (“diluted EPS”), for the second quarter of 2026, compared to net income of $558,000, or $0.15 diluted EPS, for the first quarter of 2026.
On July 14, 2026, the Company completed the acquisition of Lakeside Bancshares, Inc. and its subsidiary, Lakeside Bank (collectively referred to as “Lakeside”). The Company’s reported net income for 2026 includes certain expenses related to Lakeside’s merger with and into the Company and the Bank. These expenses are referred to as “merger-related expenses” and totaled $87,000 (pre-tax) for the second quarter of 2026, compared to $95,000 (pre-tax) for the first quarter of 2026.
“Although we’ve seen a decline in loans through the first half of the year, credit quality remains sound and we continue to gain new deposit customers,” said Joe Zanco, President and Chief Executive Officer of the Company and Bank. “We’re excited about Louisiana’s economic future and are off to a running start in our new, Southwest Louisiana market.”
Loans
Loans totaled $162.8 million at June 30, 2026, down $892,000, or 1%, from March 31, 2026. The following table sets forth the composition of the Company’s loan portfolio as of the dates indicated.
(Dollars in thousands)
6/30/2026
3/31/2026
Change
Real estate loans
One- to four-family residential
$
76,699
$
78,093
$
(1,394)
(2)
%
Commercial real estate
37,426
33,673
3,753
11
Construction and land
15,943
19,761
(3,818)
(19)
Multi-family residential
4,724
4,781
(57)
(1)
Total real estate loans
134,792
136,308
(1,516)
(1)
Other loans
Commercial and industrial
26,256
25,626
630
2
%
Consumer
1,737
1,743
(6)
-
Total other loans
27,993
27,369
624
2
Total loans
$
162,785
$
163,677
$
(892)
(1)
During the second quarter of 2026, a $5.0 million construction loan was converted to an amortizing commercial real estate loan. The loan is included in the health service facilities category presented in the following table.
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)
6/30/2026
3/31/2026
Change
Commercial real estate
Retail
$
8,878
$
9,273
$
(395)
(4)
%
Hospitality
5,440
5,519
(79)
(1)
Health service facilities
9,838
4,911
4,927
100
Restaurants
1,022
1,047
(25)
(2)
Oilfield services
345
355
(10)
(3)
Other non-owner occupied
2,002
2,322
(320)
(14)
Other owner occupied
9,901
10,246
(345)
(3)
Total commercial real estate
$
37,426
$
33,673
$
3,753
11
Construction and land
Multi-family residential
$
6,873
$
5,783
$
1,090
19
%
Health service facilities
4,797
9,698
(4,901)
(51)
Other commercial construction and land
3,088
2,436
652
27
Consumer residential construction and land
1,185
1,844
(659)
(36)
Total construction and land
$
15,943
$
19,761
$
(3,818)
(19)
Commercial and industrial
Oilfield services
$
17,824
$
17,959
$
(135)
(1)
%
Industrial equipment
910
986
(76)
(8)
Professional services
3,582
3,250
332
10
Other commercial and industrial
3,940
3,431
509
15
Total commercial and industrial loans
$
26,256
$
25,626
$
630
2
Multi-family residential construction loan growth was largely driven by new apartment homes in Lafayette Parish.
Credit Quality and Allowance for Credit Losses
At June 30, 2026, non-performing assets (“NPAs”) totaled $2.3 million, down $385,000, or 14%, compared to NPAs of $2.7 million at March 31, 2026. The decline in NPAs was primarily due to the pay-off of a substandard commercial real estate loan that was individually evaluated for credit losses as of March 31, 2026. The ratio of NPAs to total assets was 0.80% and 0.94% at June 30 and March 31, 2026, respectively. Non-performing loans (“NPLs”) were 1.43% and 1.64% of total loans at June 30 and March 31, 2026, respectively. At June 30, 2026, 96% of total NPLs were one- to four-family residential mortgage loans, compared to 82% at March 31, 2026.
At June 30, 2026, the allowance for credit losses on loans totaled $2.2 million, or 1.34% of total loans, compared to $2.3 million, or 1.40% of total loans, at March 31, 2026. The Company recorded a $104,000 reversal of provision for credit losses for the second quarter of 2026, compared to a $70,000 reversal for the first quarter of 2026. The reversal of expected credit losses in the second quarter of 2026 was largely driven by a decline in construction and land loan balances as a result of a $5.0 million construction loan converting to an amortizing commercial real estate loan and a decline in the amount of classified commercial real estate loans during the second quarter of 2026. The reversal of expected credit losses in the first quarter of 2026 was primarily driven by declines in commercial and industrial and residential loan balances.
Net loan charge-offs totaled $1,000 during the second quarter of 2026, compared to net loan charge-offs of $37,000 during the first quarter of 2026. Net loan charge-offs during the first quarter of 2026 included a $28,000 charge-off of a commercial line of credit.
Investment Securities
Total investment securities were $67.1 million, or 23% of total assets, at June 30, 2026, up $3.9 million, or 6%, compared to March 31, 2026. During the second quarter of 2026, we purchased $6.0 million of subordinated debt issued by bank holding companies. The issuers are financially strong, publicly traded companies based in the southern United States. The weighted average yield of the securities purchased during the second quarter of 2026 was 6.3%. We did not purchase investment securities in the first quarter of 2026.
2
Deposits
Total deposits were $196.4 million at June 30, 2026, up $1.0 million, or 1%, from March 31, 2026. Total deposits averaged $198.8 million during the second quarter of 2026, compared to $198.2 million during the first quarter of 2026. The ratio of the Company’s total loans to total deposits was 83% and 84% at June 30 and March 31, 2026, respectively.
The following table sets forth the composition of the Company’s deposits as of the dates indicated.
(Dollars in thousands)
6/30/2026
3/31/2026
Change
Non-interest-bearing demand deposits
$
35,346
$
34,739
$
607
2
%
Interest-bearing demand deposits
32,667
33,249
(582)
(2)
Money market
9,248
9,296
(48)
(1)
Savings
64,386
60,525
3,861
6
Certificates of deposit
54,742
57,564
(2,822)
(5)
Total deposits
$
196,389
$
195,373
$
1,016
1
Growth in high-yield savings accounts has been a primary driver of deposit growth during both the first and second quarters of 2026.
Total public fund deposits were $27.4 million, or 14% of total deposits, at June 30, 2026, compared to $29.8 million, or 15% of total deposits, at March 31, 2026. During the second quarter of 2026, total public fund deposits averaged $30.1 million, compared to $35.6 million during the first quarter of 2026. The decline in public fund deposits was largely due to seasonal fluctuations.
Capital and Share Repurchases
At June 30 and March 31, 2026, consolidated shareholders’ equity totaled $82.5 million and $82.2 million, or 28.5% of total assets, respectively. Following the merger of Lakeside with and into the Company and the Bank, consolidated shareholders’ equity is estimated to be approximately $78.7 million, or 12.5% of total assets, based on data as of June 30, 2026.
The Company repurchased 24,206 shares of its common stock at an average cost per share of $16.20 during the second quarter of 2026, compared to 16,614 shares at an average cost per share of $15.71 during the first quarter of 2026. The Company paused share repurchases while conducting merger-related due diligence and negotiations.
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 June 30, 2026, 148,091 shares of the Company’s common stock were available for repurchase under the November 2025 Repurchase Plan.
Since the announcement of our first share repurchase plan on January 26, 2023 and through June 30, 2026, the Company has repurchased a total of 1,255,909 shares of its common stock, or 24% of the common shares originally issued, at an average cost per share of $12.19. At June 30, 2026, the Company had common shares outstanding of 4,034,091.
3
Net Interest Income
The net interest margin for the second quarter of 2026 was 3.86%, up three basis points compared to the prior quarter. For the second quarter of 2026, the average yield on interest-earning assets was 5.34%, down two basis points from the prior quarter, and the average rate paid on interest-bearing liabilities was 2.31%, down four basis points from the first quarter of 2026. Net interest income for the second quarter of 2026 was $2.6 million, up $46,000, or 2%, compared to the first quarter of 2026.
Total interest income was up $14,000, or less than 1%, in the second quarter of 2026 compared to the prior quarter largely due to an increase in income on investment securities, cash and due from banks, and other interest earning assets, which was mostly offset by a decline in interest income on loans. During March 2026, a $5.9 million commercial and industrial loan relationship paid off after the sale of the borrower’s business. In the same month, the Company purchased $817,000 of stock in the Federal Reserve Bank of Atlanta, which yields a statutory rate of 6.0%. During the second quarter of 2026, as previously mentioned, the Company purchased subordinated debt with an average yield of 6.3%.
Total interest expense decreased $32,000, or 3%, in the second quarter of 2026 compared to the prior quarter. The decline in interest expense was mainly due to a decline in the average volume of total interest-bearing liabilities. Total average interest-bearing deposits were down $2.4 million, or 1%, during the second quarter of 2026 compared to the prior quarter, largely due to fluctuations in public funds.
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
6/30/2026
3/31/2026
(Dollars in thousands)
Average Balance
Interest
Average Yield/ Rate(TE)
Average Balance
Interest
Average Yield/ Rate(TE)
INTEREST-EARNING ASSETS
Loans receivable(1)
$
163,650
$
2,686
6.58
%
$
168,545
$
2,749
6.61
%
Investment securities(2)
69,732
567
3.28
67,529
522
3.13
Other interest earning assets
36,157
331
3.67
33,760
299
3.60
Total interest-earning assets
$
269,539
$
3,584
5.34
$
269,834
$
3,570
5.36
INTEREST-BEARING LIABILITIES
Demand deposits, money market, and savings accounts
$
106,757
$
512
1.92
%
$
107,158
$
494
1.87
%
Certificates of deposit
56,097
407
2.91
58,086
445
3.10
Total interest-bearing deposits
162,854
919
2.26
165,244
939
2.30
Borrowings
9,773
74
3.02
11,110
86
3.11
Total interest-bearing liabilities
$
172,627
$
993
2.31
$
176,354
$
1,025
2.35
Net interest-earning assets
$
96,912
$
93,480
Net interest income; average interest rate spread
$
2,591
3.03
%
$
2,545
3.01
%
Net interest margin(3)
3.86
3.83
(1) Includes non-accrual loans during the respective periods. Calculated net of deferred fees and discounts and loans in-process.
(2) Average investment securities do 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 Expense
Non-interest expense for the second quarter of 2026 totaled $2.4 million, up $97,000, or 4%, compared to the first quarter of 2026. Non-interest expense included merger-related expenses of $87,000 for the second quarter of 2026, compared to $95,000 for the first quarter of 2026.
Professional fees for the second quarter of 2026 totaled $175,000 and included $64,000 of merger-related expenses. For the first quarter of 2026, professional fees totaled $185,000 and included $95,000 of merger-related expenses. Excluding merger-related expenses, professional fees increased during the second quarter of 2026 compared to the prior quarter primarily due to expenses associated with the Company’s annual meeting and annual report.
Advertising and marketing expense for the second quarter of 2026 was $47,000, up $14,000, or 42%, compared to the prior quarter largely due to merger-related expenses.
Other non-interest expense totaled $289,000 for the second quarter of 2026, up $55,000, or 24%, from the prior quarter. The majority of the increase was due to training and education expenses and annual report distribution costs. Other non-interest expense for the second quarter of 2026 also included $8,000 of merger-related expenses.
Income Tax Expense
Income tax expense for the second quarter of 2026 totaled $152,000, up $26,000, or 21%, compared to the first quarter of 2026. The Company’s effective tax rate was 22.5% for the second quarter of 2026, compared to 18.4% for the first quarter of 2026. The increase in income tax expense and the effective tax rate for the second quarter of 2026 was mainly due to the tax impact of non-deductible merger-related expenses.
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 $290.0 million in assets at June 30, 2026. Catalyst Bank, formerly St. Landry Homestead Federal Savings Bank, has been in operation in the Acadiana region of south-central Louisiana since 1922. Catalyst Bank offers commercial and retail banking products with a focus on fueling business and improving lives in the communities we serve. 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.
5
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 expectations 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.
6
CATALYST BANCORP, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
(Unaudited)
(Unaudited)
(Dollars in thousands)
6/30/2026
3/31/2026
12/31/2025
6/30/2025
ASSETS
Non-interest-bearing cash
$
4,973
$
4,898
$
4,132
$
4,024
Interest-bearing cash and due from banks
32,009
33,635
21,073
36,032
Total cash and cash equivalents
36,982
38,533
25,205
40,056
Investment securities:
Securities available-for-sale, at fair value
46,218
48,216
50,467
29,294
Securities held-to-maturity
20,844
14,914
14,917
14,948
Loans receivable, net of unearned income
162,785
163,677
170,210
167,569
Allowance for credit losses
(2,185)
(2,295)
(2,367)
(2,431)
Loans receivable, net
160,600
161,382
167,843
165,138
Accrued interest receivable
876
849
907
883
Foreclosed assets
5
34
34
80
Premises and equipment, net
5,648
5,749
5,850
5,977
Stock in correspondent banks, at cost
1,976
1,963
1,139
825
Bank-owned life insurance
15,252
15,117
14,983
14,726
Other assets
1,612
1,751
1,582
1,858
TOTAL ASSETS
$
290,013
$
288,508
$
282,927
$
273,785
LIABILITIES
Deposits:
Non-interest-bearing
$
35,346
$
34,739
$
29,991
$
31,155
Interest-bearing
161,043
160,634
155,283
151,056
Total deposits
196,389
195,373
185,274
182,211
Borrowings
9,786
9,759
14,732
9,647
Other liabilities
1,308
1,167
1,196
1,128
TOTAL LIABILITIES
207,483
206,299
201,202
192,986
SHAREHOLDERS' EQUITY
Common stock
40
41
41
41
Additional paid-in capital
37,051
37,303
37,363
38,259
Unallocated common stock held by benefit plans
(5,008)
(5,129)
(5,182)
(5,596)
Retained earnings
52,994
52,470
51,912
50,967
Accumulated other comprehensive loss
(2,547)
(2,476)
(2,409)
(2,872)
TOTAL SHAREHOLDERS' EQUITY
82,530
82,209
81,725
80,799
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
290,013
$
288,508
$
282,927
$
273,785
7
CATALYST BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended
Six Months Ended
(Dollars in thousands)
6/30/2026
3/31/2026
6/30/2025
6/30/2026
6/30/2025
INTEREST INCOME
Loans receivable, including fees
$
2,686
$
2,749
$
2,792
$
5,435
$
5,530
Investment securities
567
522
294
1,089
569
Cash and due from banks
309
290
353
599
694
Other earning assets
22
9
22
31
42
Total interest income
3,584
3,570
3,461
7,154
6,835
INTEREST EXPENSE
Deposits
919
939
925
1,858
1,866
Borrowings
74
86
68
160
136
Total interest expense
993
1,025
993
2,018
2,002
Net interest income
2,591
2,545
2,468
5,136
4,833
Reversal of credit losses
(104)
(70)
-
(174)
-
Net interest income after reversal of credit losses
2,695
2,615
2,468
5,310
4,833
NON-INTEREST INCOME
Service charges on deposit accounts
204
202
202
406
399
Bank-owned life insurance
135
134
119
269
237
Other
22
16
23
38
45
Total non-interest income
361
352
344
713
681
NON-INTEREST EXPENSE
Salaries and employee benefits
1,343
1,321
1,262
2,664
2,507
Occupancy and equipment
208
209
208
417
407
Data processing and communication
183
180
176
363
358
Professional fees
175
185
114
360
215
Directors’ fees
124
121
117
245
231
Foreclosed assets, net
11
-
18
11
(109)
Advertising and marketing
47
33
20
80
59
Other
289
234
263
523
492
Total non-interest expense
2,380
2,283
2,178
4,663
4,160
Income before income tax expense
676
684
634
1,360
1,354
Income tax expense
152
126
113
278
247
NET INCOME
$
524
$
558
$
521
$
1,082
$
1,107
Earnings per share:
Basic
$
0.15
$
0.16
$
0.14
$
0.30
$
0.30
Diluted
0.14
0.15
0.14
0.30
0.30
8
CATALYST BANCORP, INC.
SELECTED FINANCIAL DATA
(Unaudited)
Three Months Ended
Six Months Ended
(Dollars in thousands)
6/30/2026
3/31/2026
6/30/2025
6/30/2026
6/30/2025
EARNINGS DATA
Total interest income
$
3,584
$
3,570
$
3,461
$
7,154
$
6,835
Total interest expense
993
1,025
993
2,018
2,002
Net interest income
2,591
2,545
2,468
5,136
4,833
Reversal of credit losses
(104)
(70)
-
(174)
-
Total non-interest income
361
352
344
713
681
Total non-interest expense
2,380
2,283
2,178
4,663
4,160
Income tax expense
152
126
113
278
247
Net income
$
524
$
558
$
521
$
1,082
$
1,107
AVERAGE BALANCE SHEET DATA
Total loans
$
163,650
$
168,545
$
167,627
$
166,084
$
166,891
Total interest-earning assets
269,539
269,834
249,137
269,686
247,920
Total assets
292,262
292,752
270,788
292,506
269,517
Total interest-bearing deposits
162,854
165,244
149,106
164,042
149,540
Total interest-bearing liabilities
172,627
176,354
158,725
174,480
159,136
Total deposits
198,754
198,160
179,426
198,458
178,272
Total shareholders' equity
82,339
82,141
80,611
82,240
80,519
SELECTED RATIOS
Return on average assets
0.72
%
0.77
%
0.77
%
0.75
%
0.83
%
Return on average equity
2.55
2.76
2.59
2.65
2.77
Efficiency ratio
80.64
78.79
77.46
79.72
76.37
Net interest margin(TE)
3.86
3.83
3.98
3.84
3.93
Average equity to average assets
28.17
28.06
29.77
28.12
29.88
Common equity Tier 1 capital ratio(1)
43.37
44.29
43.72
Tier 1 leverage capital ratio(1)
26.55
26.22
27.56
Total risk-based capital ratio(1)
44.62
45.55
44.98
NON-FINANCIAL DATA
Total employees (full-time equivalent)
49
49
49
Common shares issued and outstanding, end of period
4,034,091
4,058,297
4,142,816
(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
Six Months Ended
(Dollars in thousands)
6/30/2026
3/31/2026
6/30/2025
6/30/2026
6/30/2025
ALLOWANCE FOR CREDIT LOSSES
Loans:
Beginning balance
$
2,295
$
2,367
$
2,500
$
2,367
$
2,522
Reversal of credit losses
(109)
(35)
(27)
(144)
(10)
Charge-offs
(18)
(49)
(63)
(67)
(116)
Recoveries
17
12
21
29
35
Net charge-offs
(1)
(37)
(42)
(38)
(81)
Ending balance
$
2,185
$
2,295
$
2,431
$
2,185
$
2,431
Unfunded commitments:
Beginning balance
$
176
$
211
$
104
$
211
$
121
Provision for (reversal of) credit losses on unfunded commitments
5
(35)
27
(30)
10
Ending balance
$
181
$
176
$
131
$
181
$
131
Total reversal of credit losses
$
(104)
$
(70)
$
-
$
(174)
$
-
CREDIT QUALITY(1)
Non-accruing loans
$
2,175
$
2,432
$
1,455
Accruing loans 90 days or more past due
147
246
215
Total non-performing loans
2,322
2,678
1,670
Foreclosed assets
5
34
80
Total non-performing assets
$
2,327
$
2,712
$
1,750
Total non-performing loans to total loans
1.43
%
1.64
%
1.00
%
Total non-performing assets to total assets
0.80
0.94
0.64
(1) Credit quality data and ratios are as of the end of each period presented.
10
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