Stilwell pushes sale of Catalyst Bancorp (CLST) and board bid

Rhea-AI Filing Summary

Catalyst Bancorp, Inc. (CLST) is the subject of this third amendment to a Schedule 13D by the Stilwell Group and nominee Mark D. Alcott. The group reports beneficial ownership of 364,085 shares of common stock, representing 9.0% of the 4,033,791 shares outstanding as of August 12, 2026. Alcott directly owns an additional 1,000 shares, or 0.02%.

The filers state their purpose is to profit from appreciation in Catalyst Bancorp’s stock by asserting shareholder rights and express the view that the company’s asset value is not adequately reflected in the current share price. They have notified the company of their intent to nominate Mark D. Alcott as director at the 2027 annual meeting, with Corissa B. Porcelli as alternate, and have entered into nominee agreements covering expense reimbursement and indemnification.

The group has also submitted a non-binding “Sale Proposal” asking shareholders to approve a request that the board take all necessary steps to promptly effectuate a sale of Catalyst Bancorp. In connection with Alcott’s nomination, the Stilwell entities granted him an option to purchase up to 50,000 shares of common stock beneficially owned by the group at a price of $17.37 per share, vesting the day after the 2027 annual meeting.

Key Figures

Beneficial ownership (Stilwell Group): 364,085 shares of Common Stock Beneficial ownership percentage (Stilwell Group): 9.0% Shares outstanding: 4,033,791 shares of Common Stock +5 more

8 metrics

Beneficial ownership (Stilwell Group) 364,085 shares of Common Stock Beneficially owned, representing approximately 9.0% of shares outstanding

Beneficial ownership percentage (Stilwell Group) 9.0% Based on 4,033,791 shares outstanding as of August 12, 2026

Shares outstanding 4,033,791 shares of Common Stock Outstanding as of August 12, 2026, per Form 10-Q filed August 14, 2026

Alcott direct ownership 1,000 shares of Common Stock Directly owned by Mark D. Alcott, about 0.02% of shares outstanding

Alcott purchase cost $16,686.50 Total expended by Mark D. Alcott to acquire 1,000 shares of Common Stock

Stilwell Activist Investments purchases $246,303.25 Amount spent to acquire 15,495 shares of Common Stock since last report

Shares acquired by Stilwell Activist Investments 15,495 shares of Common Stock Purchased since last reported transactions

Option to Alcott 50,000 shares at $17.37 per share Option granted by Stilwell entities, vesting day after 2027 Annual Meeting

Key Terms

Schedule 13D, beneficially own, margin transactions, non-binding proposal, +2 more

6 terms

Schedule 13D regulatory

"This is the third amendment to the original Schedule 13D, which was filed"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially own financial

"Each of Stilwell Activist Fund, Stilwell Activist Investments, Stilwell Partners, Stilwell Value LLC and Joseph Stilwell may be deemed to beneficially own 364,085 shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

margin transactions financial

"All purchases of shares of Common Stock made by the Stilwell Group using funds borrowed... were made in margin transactions on their usual terms"

non-binding proposal regulatory

"Additionally, we have submitted a non-binding proposal (the "Sale Proposal") seeking shareholder approval"

A non-binding proposal is an offer or plan presented by one party that outlines terms they would like to pursue but does not create a legally enforceable obligation. Think of it like a detailed handshake or a draft invitation to negotiate: it signals intent and frames possible outcomes, but either side can walk away or change terms without legal penalty. Investors watch these because they can move a stock’s price by suggesting a possible deal, yet they carry higher uncertainty than formal agreements.

proxy solicitation regulatory

"may be deemed to be solicitation material in respect of the solicitation of proxies by the 13D Group"

Proxy solicitation is the process of asking shareholders for permission to vote their shares on corporate matters, usually by sending voting forms or requests by mail, email or phone. Investors should watch proxy solicitations because they signal attempts to change control, influence board elections or approve big deals — like neighbors organizing votes on a shared building project — and the outcome can materially affect a company’s strategy and stock value.

Nominee Agreements regulatory

"entered into nominee agreements (the "Nominee Agreements") with each of Mark D. Alcott and Corissa B. Porcelli"

FAQ

How much of Catalyst Bancorp (CLST) does the Stilwell Group report owning?

The Stilwell Group reports beneficial ownership of 364,085 shares of Catalyst Bancorp common stock, representing approximately 9.0% of the 4,033,791 shares outstanding as of August 12, 2026, based on the company’s Form 10-Q filed on August 14, 2026.

What is Mark D. Alcott’s ownership in Catalyst Bancorp (CLST)?

Mark D. Alcott directly owns 1,000 shares of Catalyst Bancorp common stock, representing approximately 0.02% of the shares outstanding, and has sole voting and dispositive power over these shares, according to the filing.

What governance actions is the Stilwell Group planning at Catalyst Bancorp (CLST)?

The Stilwell Group has served notice of intent to nominate Mark D. Alcott for election to the board at the 2027 annual meeting, with Corissa B. Porcelli as alternate, and plans to solicit proxies from shareholders in connection with that meeting.

What is the Stilwell Group’s sale proposal for Catalyst Bancorp (CLST)?

The group submitted a non-binding Sale Proposal seeking shareholder approval of a request that the board of Catalyst Bancorp take all necessary steps to promptly effectuate a sale of the company. The proposal text is filed as an exhibit to the Schedule 13D amendment.

What option did Mark D. Alcott receive related to Catalyst Bancorp (CLST) shares?

In connection with his nomination, Mark D. Alcott received an option to purchase up to 50,000 shares of Catalyst Bancorp common stock beneficially owned by the Stilwell Group at $17.37 per share (subject to adjustment). The option vests on the day after the 2027 annual meeting.

How much has been spent recently by the Stilwell Group to buy Catalyst Bancorp (CLST) shares?

Since the last report, Stilwell Activist Investments expended $246,303.25 to acquire 15,495 shares of Catalyst Bancorp common stock, funded from its working capital and possibly margin loans. Stilwell Activist Fund and Stilwell Partners report no new expenditures in that period.

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Available on EDGAR 08/27/2026 - 02:40 PM Accepted by SEC EDGAR 08/27/2026 - 02:39 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Catalyst Bancorp, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

14888L101

(CUSIP Number)

Mr. Joseph Stilwell
200 Calle del Santo Cristo, Segundo Piso
San Juan, PR, 00901
787-985-2193

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/27/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 14888L101

1

Name of reporting person

Stilwell Activist Fund, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 364,085.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 364,085.00

11

Aggregate amount beneficially owned by each reporting person

364,085.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.0 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 14888L101

1

Name of reporting person

Stilwell Activist Investments, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 364,085.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 364,085.00

11

Aggregate amount beneficially owned by each reporting person

364,085.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.0 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 14888L101

1

Name of reporting person

STILWELL PARTNERS L P

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 364,085.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 364,085.00

11

Aggregate amount beneficially owned by each reporting person

364,085.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.0 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 14888L101

1

Name of reporting person

Stilwell Value LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 364,085.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 364,085.00

11

Aggregate amount beneficially owned by each reporting person

364,085.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.0 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 14888L101

1

Name of reporting person

STILWELL JOSEPH

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 364,085.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 364,085.00

11

Aggregate amount beneficially owned by each reporting person

364,085.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 14888L101

1

Name of reporting person

ALCOTT MARK DAVID

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.02 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: Catalyst Bancorp, Inc.
(c)	Address of Issuer's Principal Executive Offices: 235 N. COURT STREET, OPELOUSAS, LOUISIANA , 70570.
Item 2.	Identity and Background
(a)	This is the third amendment (this "Third Amendment") to the original Schedule 13D, which was filed on October 30, 2025 (the "Original Schedule 13D"), and amended on January 12, 2026 (the "First Amendment") and on April 13, 2026 (the "Second Amendment"). This Third Amendment is being filed jointly by Stilwell Activist Fund, L.P., a Delaware limited partnership ("Stilwell Activist Fund"); Stilwell Activist Investments, L.P., a Delaware limited partnership ("Stilwell Activist Investments"); Stilwell Partners, L.P., a Delaware limited partnership ("Stilwell Partners"); Stilwell Value LLC, a Delaware limited liability company ("Stilwell Value LLC") and the general partner of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners; and Joseph Stilwell, the managing member and owner of Stilwell Value LLC (collectively, the "Stilwell Group", "we" or "us"); and Mark D. Alcott, the Stilwell Group's nominee to the board of directors (the "Board") of Catalyst Bancorp, Inc. (the "Issuer") and a shareholder of the Issuer. The filers of this statement are collectively referred to herein as the "13D Group." The amended joint filing agreement (the "Amended Joint Filing Agreement") of the members of the 13D Group is attached as Exhibit 6 to this Third Amendment. A copy of the power of attorney (the "Power of Attorney") given by Mark D. Alcott to Joseph Stilwell and Megan Parisi is attached to this Third Amendment as Exhibit 7. This statement is filed by Joseph Stilwell with respect to the shares of common stock, par value $0.01 per share (the "Common Stock") of the Issuer beneficially owned by Joseph Stilwell, including shares of Common Stock held in the names of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners, in Joseph Stilwell's capacities as the managing member and owner of Stilwell Value LLC, which is the general partner of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners. Mark D. Alcott also directly owns shares of Common Stock as noted above and set forth herein.
(b)	The business address of Stilwell Activist Fund, Stilwell Activist Investments, Stilwell Partners, and Stilwell Value LLC is 111 Broadway, 12th Floor, New York, New York 10006. The business address of Joseph Stilwell is 200 Calle del Santo Cristo, Segundo Piso, San Juan, Puerto Rico 00901. The business address of Mark D. Alcott is 519 E 10th Avenue, Bowling Green, Kentucky 42101.
(c)	The principal employment of Joseph Stilwell is investment management. Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners are private investment partnerships engaged in the purchase and sale of securities for their own accounts. Stilwell Value LLC serves as the general partner of Stilwell Activist Fund, Stilwell Activist Investments, Stilwell Partners, and related partnerships. The principal employment of Mark D. Alcott is serving as an Attorney and Managing Partner of the law firm Harlin Parker.
(d)	During the past five years, no member of the 13D Group has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the past five years, no member of the 13D Group has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws, except as indicated in Schedule C, attached hereto and incorporated herein by reference.
(f)	Joseph Stilwell and Mark D. Alcott are citizens of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	Mark D. Alcott has expended a total of $16,686.50 to acquire 1,000 shares of Common Stock. Such funds, from time to time, may be provided in part by margin account loans from subsidiaries of Charles Schwab extended in the ordinary course of business. Since we last reported purchases of Common Stock, Stilwell Activist Fund has not expended any monies to acquire securities of the Issuer. Since we last reported purchases of Common Stock, Stilwell Activist Investments has expended $246,303.25 to acquire 15,495 shares of Common Stock. Such funds were provided from Stilwell Activist Investments' working capital and may, from time to time, be provided in part by margin account loans from subsidiaries of Morgan Stanley, Interactive Brokers or Velocity Clearing LLC extended in the ordinary course of business. Since we last reported purchases of Common Stock, Stilwell Partners has not expended any monies to acquire securities of the Issuer. All purchases of shares of Common Stock made by the Stilwell Group using funds borrowed from subsidiaries of Morgan Stanley, J.P. Morgan, Interactive Brokers or Velocity Clearing LLC, if any, were made in margin transactions on their usual terms and conditions, except as disclosed below in Item 5. All or part of the shares of Common Stock owned by members of the Stilwell Group may from time to time be pledged with one or more banking institutions or brokerage firms as collateral for loans made by such entities to members of the Stilwell Group. Such loans generally bear interest at a rate based on the broker's call rate from time to time in effect. Such indebtedness, if any, may be refinanced with other banks or broker-dealers.
Item 4.	Purpose of Transaction
	We are filing this Third Amendment to announce that we have served our notice of intent to nominate Mark D. Alcott for election as a director at the Issuer's upcoming 2027 annual meeting of shareholders (the "2027 Annual Meeting"), with Corissa B. Porcelli as our alternate nominee. Copies of the Nominee Agreements (as defined below) are attached as Exhibits 2 and 3 to this Third Amendment. Additionally, we have submitted a non-binding proposal (the "Sale Proposal") seeking shareholder approval of a request that the Board shall take all necessary steps to promptly effectuate a sale of the Issuer. A copy of the Sale Proposal is attached hereto as Exhibit 5 and is incorporated herein by reference. Our purpose in acquiring shares of Common Stock of the Issuer is to profit from the appreciation in the market price of the shares of Common Stock through asserting shareholder rights. We do not believe the value of the Issuer's assets is adequately reflected in the current market price of the Issuer's Common Stock. THIS THIRD AMENDMENT MAY BE DEEMED TO BE SOLICITATION MATERIAL IN RESPECT OF THE SOLICITATION OF PROXIES BY THE 13D GROUP FROM THE ISSUER'S SHAREHOLDERS IN CONNECTION WITH THE ISSUER'S 2027 ANNUAL MEETING. SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS RELATING TO THE SOLICITATION BY THE 13D GROUP AND OTHER PARTICIPANTS OF PROXIES FROM THE ISSUER'S SHAREHOLDERS FOR USE AT THE ISSUER'S 2027 ANNUAL MEETING OF SHAREHOLDERS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO THE PARTICIPANTS IN OUR PROXY SOLICITATION. INFORMATION RELATING TO THE PARTICIPANTS IN OUR PROXY SOLICITATION IS INCLUDED IN SCHEDULE A, ATTACHED HERETO AND INCORPORATED BY REFERENCE HEREIN. Members of the 13D Group may seek to make additional purchases or sales of shares of Common Stock. Except as described in this filing, no member of the 13D Group has any plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D. Members of the 13D Group may, at any time and from time to time, review or reconsider their positions and formulate plans or proposals with respect thereto. Since 2000, members or affiliates of the Stilwell Group have taken an 'activist position' in 80 other publicly-traded companies. In each instance, our purpose has been to profit from the appreciation in the market price of the shares we held by asserting shareholder rights. In addition, we believed that the values of the companies' assets were not adequately reflected in the market prices of their shares. Our actions with respect to such publicly-traded companies are described in Schedule B, attached hereto and incorporated herein by reference.
Item 5.	Interest in Securities of the Issuer
(a)	The members of the Stilwell Group beneficially own an aggregate of 364,085 shares of Common Stock. Mark D. Alcott directly owns 1,000 shares of Common Stock. The percentages used in this filing are calculated based on 4,033,791 shares of Common Stock outstanding as of August 12, 2026, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on August 14, 2026. The purchases and sales of Common Stock reported in this item, if any, were made in open-market transactions. Each of Stilwell Activist Fund, Stilwell Activist Investments, Stilwell Partners, Stilwell Value LLC and Joseph Stilwell may be deemed to beneficially own 364,085 shares of Common Stock, constituting approximately 9.0% of the shares of Common Stock outstanding. Mark D. Alcott directly owns 1,000 shares of Common Stock, constituting approximately 0.02% of the shares of Common Stock outstanding.
(b)	Each of Stilwell Activist Fund, Stilwell Activist Investments, Stilwell Partners, Stilwell Value LLC and Joseph Stilwell may be deemed to share the power to vote and dispose of 364,085 shares of Common Stock owned in the aggregate by Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners. Because he is the managing member and owner of Stilwell Value LLC, which is the general partner of each of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners, Joseph Stilwell has the power to direct the affairs of each of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners, including the voting and disposition of shares of Common Stock held in the name of each of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners. Therefore, Joseph Stilwell is deemed to share voting and disposition power with each of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners with regard to those shares of Common Stock. Because he is the managing member and owner of Stilwell Value LLC, Joseph Stilwell has the power to direct the affairs of Stilwell Value LLC. Stilwell Value LLC is the general partner of each of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners. Therefore, Stilwell Value LLC may be deemed to share with Joseph Stilwell voting and disposition power with regard to the shares of Common Stock held by each of Stilwell Activist Fund, Stilwell Activist Investments, and Stilwell Partners. Mark D. Alcott has sole power to vote and dispose of the 1,000 shares of Common Stock that he directly owns.
(c)	Within the past sixty days, each of Stilwell Activist Investments, Stilwell Activist Fund and Stilwell Partners has not purchased or sold any shares of Common Stock. Stilwell Value LLC and Joseph Stilwell have not purchased or sold any shares of Common Stock. Within the past sixty days, Mark D. Alcott purchased shares of Common Stock as set forth in Schedule D, attached hereto and incorporated herein by reference.
(d)	No person other than Stilwell Activist Fund, Stilwell Activist Investments, Stilwell Partners, Stilwell Value LLC, Joseph Stilwell and Mark D. Alcott is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, their respective shares of Common Stock.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	On August 27, 2026, Stilwell Activist Investments, Stilwell Activist Fund, Stilwell Partners, and Stilwell Value LLC entered into nominee agreements (the "Nominee Agreements") with each of Mark D. Alcott and Corissa B. Porcelli (the "Nominees"), pursuant to which the Nominees have agreed, should members of the Stilwell Group so choose, to stand for election to the Board at the 2027 Annual Meeting, and to serve as directors if elected. Pursuant to the Nominee Agreements, Stilwell Activist Investments, Stilwell Activist Fund, Stilwell Partners, and Stilwell Value LLC have agreed to (i) reimburse all of the Nominees' actual out-of-pocket expenses incurred in connection with the nomination process and (ii) indemnify each Nominee for any damages and expenses incurred in connection with his or her nomination for director of the Issuer. The foregoing summary of the Nominee Agreements are qualified in its entirety by reference to the full text of the Nominee Agreements, copies of which are filed as Exhibits 2 and 3 attached to this Third Amendment and is incorporated by reference herein. On August 27, 2026, in connection with Mark D. Alcott's nomination to stand for election to the Board and to serve as a director of the Issuer if elected, Stilwell Activist Investments, Stilwell Activist Fund, Stilwell Partners and Stilwell Value LLC entered into an option agreement with Mark D. Alcott (the "Option Agreement") pursuant to which Stilwell Activist Investments, Stilwell Activist Fund, Stilwell Partners and Stilwell Value LLC have issued to Mark D. Alcott an option to purchase up to 50,000 shares of Common Stock (the "Option") beneficially owned by the Stilwell Group, at a purchase price of $17.37 per Option share (subject to adjustment), subject to certain terms and conditions set forth therein. Pursuant to the Option Agreement, the Option vests on the day after the 2027 Annual Meeting. The foregoing summary of the Option Agreement is qualified in its entirety by reference to the full text of the Option Agreement, a copy of which is filed as Exhibit 4 attached to this Third Amendment and is incorporated by reference herein. Other than the Nominee Agreements filed as Exhibits 2 and 3 to this Third Amendment, the Option Agreement filed as Exhibit 4 to this Third Amendment, the Power of Attorney filed as Exhibit 7 to this Third Amendment and the Amended Joint Filing Agreement filed as Exhibit 6 to this Third Amendment, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 hereof and between such persons and any person with respect to any securities of the Issuer, including but not limited to transfer or voting of any of the securities, finders' fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of profits or losses, or the giving or withholding of proxies, except for sharing of profits. See Items 1 and 2 above regarding disclosure of the relationships between the 13D Group, which disclosure is incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Schedule A - Identity of Participants Schedule B - Stilwell Activist History Schedule C - Item 2(e) Schedule D - Transactions in Securities Exhibit 1 - Joint Filing Agreement, dated October 30, 2025, filed with the Original Schedule 13D. Exhibit 2 - Nominee Agreement, dated August 27, 2026, with Mark D. Alcott. Exhibit 3 - Nominee Agreement, dated August 27, 2026, with Corissa B. Porcelli. Exhibit 4 - Option Agreement, dated August 27, 2026, with Mark D. Alcott. Exhibit 5 - Sale Proposal, dated August 27, 2026. Exhibit 6 - Amended Joint Filing Agreement, dated August 27, 2026. Exhibit 7 - Power of Attorney, dated August 27, 2026.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Stilwell Activist Fund, L.P.

Signature:	/s/ Megan Parisi
Name/Title:	Megan Parisi, Member of Stilwell Value LLC, its General Partner
Date:	08/27/2026

Stilwell Activist Investments, L.P.

Signature:	/s/ Megan Parisi
Name/Title:	Megan Parisi, Member of Stilwell Value LLC, its General Partner
Date:	08/27/2026

STILWELL PARTNERS L P

Signature:	/s/ Megan Parisi
Name/Title:	Megan Parisi, Member of Stilwell Value LLC, its General Partner
Date:	08/27/2026

Stilwell Value LLC

Signature:	/s/ Megan Parisi
Name/Title:	Megan Parisi, Member
Date:	08/27/2026

STILWELL JOSEPH

Signature:	/s/ Joseph Stilwell
Name/Title:	Joseph Stilwell*
Date:	08/27/2026

ALCOTT MARK DAVID

Signature:	/s/ Mark D. Alcott
Name/Title:	Mark D. Alcott
Date:	08/27/2026

Megan Parisi

Signature:	/s/ Megan Parisi
Name/Title:	*Megan Parisi, Attorney-in-Fact
Date:	08/27/2026