Catalyst Bancorp, Inc. Completes Acquisition of Lakeside Bancshares, Inc.

Rhea-AI Summary

Catalyst Bancorp (Nasdaq: CLST) has completed its previously announced acquisition of Lakeside Bancshares (OTC: LKSB) and wholly owned Lakeside Bank, effective July 14, 2026. Lakeside shareholders will receive $19.58 per share in cash, or approximately $41.1 million in total consideration.

According to Catalyst, the combination brings together two community-focused banks with similar values and strengthens its position in Southwest Louisiana. Based on March 31, 2026 data, the acquisition lifts Catalyst Bank’s total assets to about $620 million, with $390 million in loans and $478 million in deposits, and adds four branches in Calcasieu Parish. As of the same date, Lakeside Bank had $375.7 million in assets, $229.8 million in loans, and $277.6 million in deposits. Catalyst plans to convert Lakeside’s branches and operating systems to Catalyst Bank’s platform in November 2026. Brean Capital and Jones Walker advised Catalyst, while Sheshunoff & Co Investment Banking and Fenimore Kay Harrison advised Lakeside.

Positive

• $41.1 million all-cash acquisition of Lakeside completed
• Pro forma assets increase to about $620 million
• Loans reach approximately $390 million; deposits $478 million
• Footprint expands with four additional branches in Calcasieu Parish

Negative

• Cash consideration of $41.1 million reduces Catalyst liquidity
• System conversion for Lakeside branches deferred until November 2026

News Market Reaction – CLST

-1.47%

-1.47% Session close to close

In the Jul 14 session, CLST declined 1.47%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Set against low short positioning and recent net insider buying, completion of the Lakeside deal fit...

Analysis

Set against low short positioning and recent net insider buying, completion of the Lakeside deal fits a pattern of mixed reactions to prior acquisition milestones. The platform record highlights integration execution and realized cost savings as key areas to monitor after closing.

Key Figures

Cash consideration per share: $19.58 per share Aggregate transaction value: $41.1 million Pro forma total assets: $620 million +5 more

8 metrics

Cash consideration per share $19.58 per share Lakeside shareholders’ merger consideration

Aggregate transaction value $41.1 million Total cash consideration to Lakeside shareholders

Pro forma total assets $620 million Catalyst Bank based on March 31, 2026 data post-acquisition

Pro forma loans $390 million Catalyst Bank loans based on March 31, 2026 data post-acquisition

Pro forma deposits $478 million Catalyst Bank deposits based on March 31, 2026 data post-acquisition

Additional branches 4 branch locations New branches in Calcasieu Parish from Lakeside acquisition

Lakeside total assets $375.7 million Lakeside Bank as of March 31, 2026

Lakeside deposits $277.6 million Lakeside Bank deposits as of March 31, 2026

Previous Acquisition Reports

2 past events · Latest: 2026-06-26 (Positive)

Same Type Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
2026-06-26	Acquisition approvals	Positive	+3.0%	Shareholder and regulatory approvals secured for the pending Lakeside merger.
2026-04-08	Acquisition agreement	Negative	-6.6%	Announcement of all-cash agreement to acquire Lakeside Bancshares with projected EPS accretion.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Acquisition-related headlines have produced mixed reactions, with one positive and one sharply negative price move around prior Lakeside deal milestones.

Key Terms

agreement and plan of share exchange and merger, otc markets

2 terms

agreement and plan of share exchange and merger regulatory

"An Agreement and Plan of Share Exchange and Merger relating to the acquisition"

A written legal contract that sets out the terms and steps for combining two companies by exchanging their shares and completing a merger; it specifies how many shares each owner will receive, the exchange ratio, conditions that must be met, timing, and how the new company will be governed. Investors care because it changes who owns what, can dilute or concentrate holdings, and can materially affect future share value and corporate control—like a roadmap and recipe for how two businesses will be joined.

otc markets financial

"Lakeside Bancshares, Inc. (OTC Markets: "LKSB")"

Over-the-counter (OTC) markets are trading venues where buyers and sellers deal directly through dealers or electronic networks instead of on a formal exchange; think of a neighborhood flea market versus a supermarket. They matter to investors because OTC-listed stocks often represent smaller or international companies with fewer reporting requirements, which can mean lower liquidity, wider price swings and higher risk but sometimes earlier access to growth opportunities.

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OPELOUSAS, La., July 14, 2026 /PRNewswire/ -- Catalyst Bancorp, Inc. (Nasdaq: "CLST") ("Catalyst"), the parent company for Catalyst Bank (www.catalystbank.com), announced today the successful completion of the previously announced acquisition of Lakeside Bancshares, Inc. (OTC Markets: "LKSB") ("Lakeside") and its wholly-owned subsidiary, Lakeside Bank. An Agreement and Plan of Share Exchange and Merger relating to the acquisition was announced in April 2026.

The acquisition became effective as of July 14, 2026. Lakeside's shareholders will receive $19.58 per share in cash, or $41.1 million in aggregate.

"Today, thanks to the overwhelming support of Lakeside Bank shareholders, we bring together two organizations with remarkably similar values and a shared belief that community banking is defined by local relationships, sound decision making, and an unwavering commitment to growing the communities we serve," said Joe Zanco, President and Chief Executive Officer of Catalyst. "By combining our strengths, we are creating a much stronger institution with expanded capabilities while preserving the local connections and personal relationships that have defined both banks."

Based on data as of March 31, 2026, the acquisition increases Catalyst Bank's total assets to approximately $620 million with $390 million in loans and $478 million in deposits and expands its presence across Southwest Louisiana with four additional branch locations in Calcasieu Parish.

Catalyst plans to convert the branch and operating systems of the former Lakeside Bank to those of Catalyst Bank in November 2026. As of March 31, 2026, Lakeside Bank had assets of $375.7 million, $229.8 million in loans and $277.6 million in deposits.

Brean Capital, LLC acted as financial advisor to Catalyst and Jones Walker LLP acted as its legal advisor in the transaction. Sheshunoff & Co Investment Banking acted as financial advisor to Lakeside and Fenimore Kay Harrison LLP acted as its legal advisor in the transaction.

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 $288.5 million in assets at March 31, 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 contains, and the officers and directors of Catalyst and its subsidiary may from time to time make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are typically identified by words or phrases such as "may," "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "forecast," and other words and terms of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.

Catalyst cautions readers that any forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. Such forward-looking statements include but are not limited to statements about the benefits of the mergers involving Catalyst and Lakeside and their subsidiaries, including future financial and operating results; statements about Catalyst's plans, objectives, expectations and intentions; and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks and uncertainties relating to: (i) the risk that the businesses will not be integrated successfully; (ii) the risk that the cost savings and any other synergies from the mergers may not be fully realized or may take longer to realize than expected; (iii) disruption from the mergers making it more difficult to maintain relationships with customers, employees or vendors; (iv) the diversion of management time on issues related to the mergers; and (v) other factors which Catalyst discusses or refers to in its reports (such as the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) and other subsequent filings with the SEC, which are available on Catalyst's website or at the SEC's website at www.sec.gov.

Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on any forward-looking statement as a prediction of future events. Any forward-looking statement speaks only as of the date on which it is made, and except as required by law, Catalyst expressly disclaims any obligation to update its forward-looking statements whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements concerning the transaction or other matters attributable to Catalyst or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

For more information:

Catalyst Bancorp, Inc.
Joe Zanco, President and CEO
(337) 948-3033

View original content to download multimedia:https://www.prnewswire.com/news-releases/catalyst-bancorp-inc-completes-acquisition-of-lakeside-bancshares-inc-302824349.html

SOURCE Catalyst Bancorp, Inc.

FAQ

What did Catalyst Bancorp (CLST) pay to acquire Lakeside Bancshares (LKSB)?

Catalyst Bancorp paid $19.58 in cash per Lakeside share, totaling about $41.1 million. According to Catalyst, this all-cash consideration covers all outstanding Lakeside Bancshares shares in the completed acquisition.

When did Catalyst Bancorp (CLST) complete its acquisition of Lakeside Bancshares?

Catalyst Bancorp completed its acquisition of Lakeside Bancshares on July 14, 2026. According to Catalyst, the Agreement and Plan of Share Exchange and Merger was first announced in April 2026 and became effective on that July 14 date.

How does the Lakeside acquisition change Catalyst Bancorp’s asset size (CLST)?

The acquisition increases Catalyst Bank’s total assets to about $620 million. According to Catalyst, based on March 31, 2026 data, the combined institution also has roughly $390 million in loans and $478 million in deposits.

What are Lakeside Bank’s key financials at closing in the Catalyst (CLST) deal?

As of March 31, 2026, Lakeside Bank had $375.7 million in assets. According to Catalyst, Lakeside also reported $229.8 million in loans and $277.6 million in deposits used to describe the combined company profile.

How will the Lakeside Bank branches be integrated into Catalyst Bank (CLST)?

Catalyst plans to convert Lakeside Bank’s branches and systems in November 2026. According to Catalyst, former Lakeside locations will move to Catalyst Bank’s operating platform while adding four branches in Calcasieu Parish to its Southwest Louisiana network.

What market presence does Catalyst Bancorp (CLST) gain from the Lakeside acquisition?

Catalyst gains four additional branch locations in Calcasieu Parish in Southwest Louisiana. According to Catalyst, these branches expand its community banking footprint while maintaining local relationships and supporting growth in the communities served.

Who advised Catalyst Bancorp (CLST) and Lakeside in the acquisition transaction?

Brean Capital served as financial advisor to Catalyst, with Jones Walker as legal advisor. According to Catalyst, Sheshunoff & Co Investment Banking advised Lakeside, while Fenimore Kay Harrison acted as Lakeside’s legal advisor in the completed transaction.