Catalyst Bancorp, Inc. reported a net income of $586,000 for the first quarter of 2025, a significant recovery from a net loss of $4.7 million during the same period in 2024. The company's total interest income increased to $3.4 million, up 6.9% from the previous year, primarily driven by a rise in interest income from loans, which reached $2.7 million, reflecting a 23.5% increase year-over-year. The net interest margin improved to 3.89%, up 77 basis points from the prior year, indicating enhanced profitability from interest-earning assets.
Total assets for Catalyst Bancorp decreased by 1.8% to $271.6 million as of March 31, 2025, down from $276.7 million at the end of 2024. This decline was attributed to a reduction in cash and cash equivalents, which fell to $40.3 million from $44.3 million. Loans receivable also saw a slight decrease, totaling $166.1 million, down 0.6% from the previous quarter. In contrast, investment securities increased by 2.7% to $43.3 million, reflecting a strategic focus on enhancing the investment portfolio.
The company’s non-interest expenses decreased significantly by 21.2% to $2.2 million, largely due to the absence of costs associated with a core processing system upgrade that impacted the previous year’s results. Additionally, the provision for credit losses was zero for the quarter, compared to $95,000 in the prior year, indicating improved asset quality and management of credit risk. Non-performing assets also declined to $1.7 million, down 5.6% from the previous quarter.
Catalyst Bancorp's total deposits decreased by 2.7% to $180.6 million, primarily due to fluctuations in public fund balances. The company reported a total of 4,180,598 shares of common stock outstanding as of May 9, 2025. The management remains optimistic about future growth, focusing on maintaining liquidity and capital adequacy while navigating the competitive banking landscape. The company anticipates that its strategic initiatives will continue to enhance its financial performance and market position in the coming quarters.
About Catalyst Bancorp, Inc.
Catalyst Bancorp, Inc. is a Louisiana-based bank holding company focused on community banking through its subsidiary, Catalyst Bank. The bank offers a range of financial services, including residential and commercial loans, and aims to attract small to mid-sized businesses. With a strategic shift towards commercial lending, Catalyst is positioned to capitalize on growth opportunities in the Acadiana region, enhancing its service offerings and expanding its branch network.
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