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.
Catalyst Bancorp (Nasdaq: CLST), parent of Catalyst Bank, and Lakeside Bancshares (OTC: LKSB), parent of Lakeside Bank, announced that Lakeside shareholders have approved their pending merger and that all required regulatory approvals have been obtained. The parties expect the mergers to close on or about July 14, 2026, subject to remaining closing conditions.
Catalyst Bancorp (Nasdaq: CLST) agreed to acquire Lakeside Bancshares (OTC: LKSB) in an all-cash merger valuing Lakeside at $19.58 per share ($41.1 million aggregate), with Catalyst surviving and Lakeside merged into Catalyst Bank.
The deal, expected to close in Q3 2026, creates a combined company with approximately $627.3M assets, $399.9M loans and $470.0M deposits and is projected to be >180% EPS accretive when cost saves are realized.
Catalyst expects leverage and total risk-based capital ratios of ~10.4% and 15.4%, respectively, and says no additional capital is needed.