Welcome to our dedicated page for Catalyst Bancorp news (Ticker: CLST), a resource for investors and traders seeking the latest updates and insights on Catalyst Bancorp stock.
Catalyst Bancorp, Inc. (CLST) maintains this dedicated news hub for investors and community stakeholders tracking its operations in Louisiana's Acadiana region. Our curated collection features official press releases, regulatory filings, and strategic updates from the federally chartered community bank.
Access timely information on quarterly earnings, technology upgrades, and loan portfolio developments that shape Catalyst's role in regional economic growth. The archive includes details about commercial lending initiatives, deposit service enhancements, and participation in community development programs like the CDFI Fund.
This resource serves both financial professionals analyzing the bank's performance and local businesses monitoring accessible credit options. All content is sourced directly from company communications to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for centralized access to Catalyst Bancorp's latest financial updates, leadership announcements, and operational milestones. Check regularly for insights into how Louisiana's evolving economic landscape impacts this community-focused institution.
Catalyst Bancorp, Inc. (Nasdaq: CLST) reported a net income of $171,000 for Q4 2022, marking a 27% increase from Q3 2022. The company announced a new share repurchase plan allowing for the buyback of up to 265,000 shares. Total loans reached $133.6 million, a 1% rise over the previous quarter, driven by growth in commercial and industrial loans. However, total deposits fell by 10%, down to $165.1 million. The net interest margin improved to 2.96%. Non-performing assets increased to $2.0 million, with the allowance for loan losses stable at $1.8 million. Non-interest income and expenses showed slight improvements.
Catalyst Bancorp (Nasdaq: CLST) reported a net income of $139,000 for Q3 2022, an increase of $121,000 from Q2 2022. Loans receivable decreased by 1% to $131.7 million, with non-performing assets rising 19% to $1.9 million. Deposits increased 3% to $184.2 million, driven by higher NOW account balances. Net interest income rose by 3% to $1.9 million, while non-interest income fell 22% to $296,000. The allowance for loan losses decreased to $1.8 million. Total investment securities declined by 4% to $92.0 million, with net unrealized losses increasing due to rising interest rates.
Catalyst Bancorp, Inc. (Nasdaq: CLST) reported net income of $18,000 for Q2 2022, a recovery from a net loss of $131,000 in Q1 2022. The Bank completed its rebranding, incurring $208,000 in related costs but also recognized a $171,000 grant from the CDFI Fund. Total loans rose to $133.6 million, with an increase in residential mortgage and commercial loans. Non-performing assets slightly increased to $1.6 million. Net interest income grew by 3% to $1.8 million, while total deposits decreased by 2% to $178.7 million. Non-interest income surged 92% to $379,000, driven by the BEA grant.
Catalyst Bancorp (CLST) reported a net loss of $131,000 for Q1 2022, down from a net income of $83,000 in Q4 2021. Loans receivable increased slightly to $132 million, while non-performing assets rose by 29% to $1.6 million. Despite a 4% increase in total deposits to $183.1 million, the firm faced a 12% decline in non-interest income, totaling $197,000. Net interest income grew 3% to $1.8 million due to improved interest from investment securities. The Company is investing in talent and technology to drive future growth.
Catalyst Bancorp, Inc. (Nasdaq: CLST) has appointed Jacques Bourque, CPA, as the new Chief Financial Officer of the Company and its banking subsidiary, St. Landry Homestead Federal Savings Bank. At just 29 years old, Bourque is now the youngest public bank CFO in the U.S. Previously serving as Treasurer since October 2021, he has a strong background in financial reporting from his role at Home Bank, N.A. Jutta Codori, the former CFO, will take on a new role focusing on human resources and administrative duties.
Catalyst Bancorp, Inc. (Nasdaq: CLST) reported a net income of $83,000 for Q4 2021, a sharp decline from $1.4 million in Q3 2021. For the full year, net income was $1.9 million, an improvement from a net loss in 2020. Total loans decreased by 4% to $131.8 million, primarily due to a drop in commercial real estate loans. Deposits fell by 29% to $176.8 million, impacted by IPO-related transactions. Non-interest income dropped significantly, reflecting the absence of prior grants. Total investment securities rose 61% to $101.8 million, attributed to IPO proceeds.
Vera Whole Health announced a cash tender offer for all shares of Castlight Health (NYSE: CLST) at $2.05 per share. This offer represents a 35% premium over the 30-day average price and a 25% premium above Castlight's last closing price before the announcement. The offer follows a merger agreement from January 4, 2022. The tender offer will expire on February 16, 2022, unless extended. Upon completion, Castlight will become a wholly owned subsidiary of Vera and cease to be publicly traded.
Catalyst Bancorp (CLST) reported a significant increase in net income for Q3 2021, reaching $1.4 million compared to $260,000 in Q2. This boost was primarily due to a $1.8 million grant from the CDFI Rapid Response Program. The company completed its IPO on October 12, 2021, raising $52.9 million by issuing 5.29 million shares. Total deposits surged to $249.5 million, a 40% increase from the previous quarter. Loan receivables decreased by 2.5%, largely from repayments in real estate loans. Net interest income fell by 8.2% to $1.7 million, while non-interest income rose markedly due to the grant.
On October 8, 2021, Catalyst Bancorp announced its planned mutual-to-stock conversion and related stock offering for St. Landry Homestead Federal Savings Bank, set to close on October 12, 2021. The offering includes 5,290,000 shares priced at $10.00 each, aiming for gross proceeds of $52.9 million. Shares will commence trading under the ticker symbol CLST on Nasdaq starting October 13, 2021. Eligible depositors will have their subscriptions filled in full, while oversubscription was noted in the community offering. The Bank's assets totaled $238.6 million as of June 30, 2021.
