$CLST

Catalyst Bancorp, Inc.

CIK:0001849867|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Loans receivable, including fees	$ 2,686	$ 2,792	$ 5,435	$ 5,530
Investment securities	567	294	1,089	569
Cash and due from banks	309	353	599	694
Other earning assets	22	22	31	42
Total interest income	3,584	3,461	7,154	6,835
INTEREST EXPENSE
Deposits	919	925	1,858	1,866
Borrowings	74	68	160	136
Total interest expense	993	993	2,018	2,002
Net interest income	2,591	2,468	5,136	4,833
Reversal of credit losses	(104)		(174)
Net interest income after reversal of credit losses	2,695	2,468	5,310	4,833
NON-INTEREST INCOME
Service charges on deposit accounts	204	202	406	399
Bank-owned life insurance	135	119	269	237
Other	22	23	38	45
Total non-interest income	361	344	713	681
NON-INTEREST EXPENSE
Salaries and employee benefits	1,343	1,262	2,664	2,507
Occupancy and equipment	208	208	417	407
Data processing and communication	183	176	363	358
Professional fees	175	114	360	215
Directors' fees	124	117	245	231
Foreclosed assets, net	11	18	11	(109)
Advertising and marketing	47	20	80	59
Regulatory fees and assessments	37	33	70	68
Other	252	230	453	424
Total non-interest expense	2,380	2,178	4,663	4,160
Income before income tax expense	676	634	1,360	1,354
Income tax expense	152	113	278	247
NET INCOME	$ 524	$ 521	$ 1,082	$ 1,107
Earnings per share - basic (in dollars per share)	$ 0.15	$ 0.14	$ 0.3	$ 0.3
Earnings per share - diluted (in dollars per share)	$ 0.14	$ 0.14	$ 0.3	$ 0.3

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 1,082	$ 1,107
Adjustments to reconcile net income to net cash provided by operating activities:
Investment securities amortization, net	32	41
Stock dividends from correspondent banks	(15)	(36)
Amortization of prepayment penalties on debt restructuring	54	90
Reversal of credit losses	(174)
Increase in cash surrender value of bank-owned life insurance	(269)	(237)
Stock-based compensation	514	410
Depreciation of premises and equipment	206	208
Net write-downs and losses on the sale of foreclosed assets	9	102
Deferred income tax	164	157
Increase in other assets	(127)	(121)
Increase (decrease) in other liabilities	143	(143)
Net cash provided by operating activities	1,619	1,578
Activity in available-for-sale securities:
Proceeds from maturities, calls, and paydowns	4,049	1,517
Purchases		(1,266)
Activity in held-to-maturity securities:
Proceeds from maturities, calls, and paydowns	89
Purchases	(6,022)	(1,506)
Net decrease (increase) in loans	7,387	(591)
Proceeds from sale of foreclosed assets	20	29
Purchases of premises and equipment	(4)	(100)
Purchase of Federal Reserve Bank Stock	(823)
Proceeds from redemption of Federal Home Loan Bank Stock		1,171
Net cash provided by (used in) investing activities	4,696	(746)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits	11,115	(3,463)
Borrowings from the Federal Home Loan Bank of Dallas	4,000
Repayments of borrowings from Federal Home Loan Bank of Dallas	(9,000)
Repurchase of common stock	(653)	(1,608)
Net cash provided by (used in) financing activities	5,462	(5,071)
NET CHANGE IN CASH AND CASH EQUIVALENTS	11,777	(4,239)
CASH AND CASH EQUIVALENTS, beginning of period	25,205	44,295
CASH AND CASH EQUIVALENTS, end of period	36,982	40,056
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING ACTIVITIES
Acquisition of real estate in settlement of loans		17
SUPPLEMENTAL SCHEDULE OF INTEREST PAID
Cash paid for interest	1,999	1,969
Cash paid for income taxes	$ 72	$ 39

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Non-interest-bearing cash	$ 4,973	$ 4,132
Interest-bearing cash and due from banks	32,009	21,073
Total cash and cash equivalents	36,982	25,205
Investment securities:
Securities available-for-sale, at fair value (amortized cost of $49,442 and $53,517, respectively)	46,218	50,467
Securities held-to-maturity (fair value of $19,318 and $13,567, respectively)	20,844	14,917
Loans receivable, net of unearned income	162,785	170,210
Allowance for credit losses	(2,185)	(2,367)
Loans receivable, net	160,600	167,843
Accrued interest receivable	876	907
Foreclosed assets	5	34
Premises and equipment, net	5,648	5,850
Stock in correspondent banks, at cost	1,976	1,139
Bank-owned life insurance	15,252	14,983
Other assets	1,612	1,582
TOTAL ASSETS	290,013	282,927
Deposits
Non-interest-bearing	35,346	29,991
Interest-bearing	161,043	155,283
Total deposits	196,389	185,274
Borrowings	9,786	14,732
Other liabilities	1,308	1,196
TOTAL LIABILITIES	207,483	201,202
Commitments and contingencies (Note 7)
SHAREHOLDERS' EQUITY
Preferred stock, $0.01 par value - 5,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value - 30,000,000 shares authorized; 4,034,091 and 4,074,911 issued and outstanding, respectively	40	41
Additional paid-in capital	37,051	37,363
Unallocated common stock held by benefit plans	(5,008)	(5,182)
Retained earnings	52,994	51,912
Accumulated other comprehensive loss	(2,547)	(2,409)
TOTAL SHAREHOLDERS' EQUITY	82,530	81,725
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 290,013	$ 282,927