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. (NASDAQ: CLST) is the bank holding company for Catalyst Bank, a community-oriented savings institution serving the Acadiana region of south-central Louisiana. The company regularly issues news releases and SEC-filed press announcements covering its financial performance, capital actions, and operational developments.
On this page, readers can follow CLST news related to quarterly and annual results, including detailed updates on loan growth, deposit trends, net interest margin, non-interest income and expense, and credit quality metrics such as non-performing assets and allowance for credit losses. The company’s earnings releases provide tables that break down its loan portfolio by category and industry segment, along with information on investment securities, deposits, borrowings, and capital levels.
Catalyst Bancorp also publishes news about share repurchase plans authorized by its board of directors. These announcements describe new repurchase authorizations, the number of shares covered by each plan, and cumulative repurchases as a percentage of the common shares originally issued. Additional news items may address balance sheet repositioning, such as sales and reinvestment of investment securities, and system upgrades, including changes to the bank’s core processing platform.
Investors and observers who follow regional and community banking activity can use this CLST news feed to monitor how Catalyst Bancorp manages its loan portfolio, deposit base, and capital over time. Because each release is furnished or filed with the U.S. Securities and Exchange Commission, the news flow offers a structured view of the company’s operating results and strategic actions within the savings institutions sector.
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Catalyst Bancorp, Inc. (Nasdaq: CLST) reported Q1 2023 net income of $73,000, down from $171,000 in Q4 2022. Despite the decline in net income, the bank maintained a solid capital position with a risk-based capital ratio of 57.69% and total shareholders' equity of $86.1 million, representing 31.2% of total assets. The bank is initiating a share repurchase plan allowing for the purchase of up to 252,000 shares. Total loans decreased slightly to $132.7 million, with a non-performing loan ratio of 1.27%. The bank's net interest income rose 3% to $2 million, aided by higher interest income from loans and investment securities, although non-interest income fell 2% to $294,000.
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.
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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.