#USA #Catalyst Bancorp #Catalyst Bank #Opelousas #Joe Zanco

Catalyst Bancorp, Inc. Financial Results for Fourth Quarter 2024

Catalyst Bancorp, Inc. (NASDAQ: CLST), the parent company of Catalyst Bank, has released its earnings for the fourth quarter of 2024, demonstrating a robust financial performance. The company reported a net income of $626,000 for the fourth quarter, marking a notable increase of $179,000, or 40%, from the previous quarter's net income of $447,000.

Significant Loan Growth

The momentum in loan growth has been a key factor behind this financial success. Joe Zanco, President and CEO of Catalyst Bancorp, highlighted that the loan portfolio expanded significantly by $22.2 million, translating to a 15% increase over the year. Zanco remarked, "I am incredibly proud of how effectively our team worked together to fuel the expansion of local businesses." As of December 31, 2024, the total loans amounted to $167.1 million, demonstrating a slight increase of $1.2 million from the previous quarter.

Breakdown of Loan Portfolio

A detailed look at the loan portfolio indicates the following:

• - Real Estate Loans: Comprising the majority, these totaled $138.7 million, reflecting a modest increase from $137.1 million.
• - Commercial Real Estate: This segment saw a reduction, totaling $22.1 million, down from $22.7 million.
• - Construction and Land Loans: Increased significantly to $32.9 million, up from $30.3 million.
• - Non-Performing Assets: Reported at $1.8 million, exhibiting an increase of 13% from the previous quarter, attributed mainly to non-accruing residential loans.

Strong Capital Position

Catalyst Bancorp's solid capital base enhances its capacity for further growth as the local economy in South Louisiana begins to gain traction. The company's total deposits climbed to $185.7 million at year-end, representing an increase of $18.2 million, or 11%, since September 30, 2024. Zanco stated, "Given our incredibly strong capital base, we are well-positioned to continue our growth as the South Louisiana economy gains momentum."

Deposit Composition

The total deposits breakdown is as follows:

• - Non-Interest Bearing Demand Deposits: $28.3 million
• - Interest-Bearing Demand Deposits: $48.3 million, which saw significant growth of 43% compared to the previous quarter.
• - Certificates of Deposit: Increased by 9% to $60.7 million.

Net Interest Income and Other Financial Metrics

Catalyst Bancorp's net interest income reached $2.5 million, a slight decrease of 2% from the prior quarter. The net interest margin stood at 3.92%, indicating a healthy operating efficiency. The net charge-offs for the fourth quarter totaled $2,000, showing a significant improvement from $131,000 in the previous quarter.

Non-interest income dropped to $337,000 from $620,000, mainly due to the absence of a $280,000 Bank Enterprise Award grant received in the third quarter. Conversely, the non-interest expenses decreased, reflecting effective cost management.

Conclusion

Catalyst Bancorp, Inc. remains committed to serving its community and expanding its local impact through the strategic management of its resources. As Zanco emphasized, the cooperative efforts of the team have positioned the company well for future growth amid improving economic conditions.

For more information about Catalyst Bancorp, Inc. and its initiatives, please visit www.catalystbank.com.