Catalyst Bancorp Q2 net income falls 6.09% to 524,000 vs Q1
CLST•Acquisition update
- The company completed the Lakeside acquisition on July 14.
- Joe Zanco cited sound credit quality, new deposit customers, and an early start in Southwest Louisiana.
Balance-sheet trends
- Loans slipped 1% to $162.8 million; deposits edged up 1% to $196.4 million, leaving the loans-to-deposits ratio at 83%.
- Non-performing assets fell 14% to $2.3 million; allowance for credit losses eased to $2.2 million, or 1.34% of total loans.
Second-quarter results
- Catalyst Bancorp posted second-quarter net income of $524,000, down 6% from Q1, with diluted earnings per share of $0.14 versus $0.15.
- Net interest income rose 2% to $2.59 million; net interest margin widened 0.03 percentage points to 3.86%.
