#USA #Catalyst Bancorp #Opelousas #Financial Growth #Lakeside Bank

Catalyst Bancorp, Inc. Third Quarter 2026 Results

OPELOUSAS, LA — Catalyst Bancorp, Inc. (Nasdaq: CLST), the holding company for Catalyst Bank, has announced its third quarter financial results for 2026, showcasing remarkable growth. The company reported a net income of $978,000, translating to $0.27 per diluted share, marking an 87% increase from the previous quarter.

Key Highlights

In July 2026, Catalyst Bancorp successfully completed the acquisition of Lakeside Bancshares, Inc. and its subsidiary, Lakeside Bank. With total assets of $379.5 million, this significant acquisition played a pivotal role in the Quarterly results. Lakeside Bank’s remarkable balance sheet included $226.8 million in loans and $284.2 million in deposits. Shareholders of Lakeside received $19.58 per share in cash, totaling $41.1 million.

The quarter also saw merger-related expenses of $883,000, which impacted net income figures, yet excluding these expenses provides a non-GAAP net income of $1.9 million, or $0.51 per share.

Integration and Economic Growth

Joe Zanco, President and CEO, highlighted the synergy between the acquisition and local economic momentum. With major investments announced by companies like SpaceX planning a $100 billion launch facility nearby, Catalyst aims to support local businesses. The integration of Lakeside is progressing smoothly, with anticipated cost synergies expected post the upcoming systems conversion.

Loan Portfolio Growth

The company's total loans surged to $383.5 million, up 136% since the last quarter. This growth reflects not only the acquired loans from Lakeside but also the company's strategic efforts in originating new loans. The breakdown shows the loans primarily focused on real estate, commercial, and industrial sectors, crucial for the region’s economic development.

Credit Quality and Performance Measures

Despite the increase in non-performing loans based on a merger-related commercial real estate acquisition, the allowance for credit losses reflects a stable position at 1.47% of total loans. The effective management of credit risk is a priority, as seen in the reported reversal of provision for credit losses during the third quarter, indicating sound credit performance overall.

Total Deposits and Shareholder Engagement

Total deposits rose to $475.5 million, a staggering increment driven by Lakeside’s robust customer base. The bank is committed to maintaining transparent communication with shareholders, fostering an environment for dialogue beyond the traditional proxy season, ensuring they understand the company's vision and strategy for sustained growth.

Conclusion

Catalyst Bancorp’s third quarter report not only demonstrates its financial growth but also its strategic foresight in navigating new acquisitions and market opportunities. As the integration of Lakeside unfolds, stakeholders can look forward to enhanced performance metrics and an even stronger positioning in the financial landscape of Louisiana.

For more information, visit Catalyst Bank or contact CEO Joe Zanco at (337) 948-3033.

Forward-Looking Statements

This report includes forward-looking statements that embody risks and uncertainties. Investors should not place undue reliance on these statements. Further details concerning such risks are available in the company's filings with the SEC.