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.

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

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

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

Consumer

1,737

1,743

(6)

Total other loans

27,993

27,369

624

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.

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

Construction and land

Multi-family residential

6,873

5,783

1,090

Health service facilities

4,797

9,698

(4,901)

(51)

Other commercial construction and land

3,088

2,436

652

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

Other commercial and industrial

3,940

3,431

509

Total commercial and industrial loans

26,256

25,626

630

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.

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

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

Certificates of deposit

54,742

57,564

(2,822)

(5)

Total deposits

196,389

195,373

1,016

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.

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

3.02

11,110

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%.

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.

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.

CATALYST BANCORP, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(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

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

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

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

Total interest income

3,584

3,570

3,461

7,154

6,835

INTEREST EXPENSE

Deposits

919

939

925

1,858

1,866

Borrowings

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

406

399

Bank-owned life insurance

135

134

119

269

237

Other

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

(109)

Advertising and marketing

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

Diluted

0.14

0.15

0.14

0.30

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

0.75

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)

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.

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

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

(35)

(30)

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

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.

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