Catalyst Bancorp CEO Zanco base salary set at $350,000 under new three-year employment agreement

Catalyst Bancorp entered a new employment agreement with CEO Joseph B. Zanco, running from Aug. 17, 2026 to Aug. 17, 2029.

• Base salary set at $350,000, with potential increases at the bank board’s discretion.
• Agreement provides maximum stock option and restricted stock allocation under existing plans, currently 25% of stock compensation pools.
• Additional $500,000 life insurance benefit, payable to his spouse or other beneficiary.
• Severance set at 12 months’ base salary on involuntary termination; 36 months’ base salary on change-in-control termination.