Catalyst Bancorp Q2 net interest margin rises
CLST•Outlook
- Company did not provide specific guidance for future quarters or the full year
Quarterly results and drivers
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US community bank's Q2 net income and diluted EPS declined slightly from prior quarter
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Company completed Lakeside Bancshares acquisition; Q2 included $87,000 in merger-related expenses
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Q2 net interest income and margin both rose slightly from previous quarter
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MERGER-RELATED EXPENSES - Q2 results included $87,000 in expenses tied to the Lakeside Bancshares acquisition, affecting net income
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REVERSAL OF CREDIT LOSSES - Co recorded a $104,000 reversal of provision for credit losses, mainly due to lower construction and land loan balances and fewer classified commercial real estate loans
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DEPOSIT GROWTH - Growth in high-yield savings accounts was the primary driver of deposit growth in Q2
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Interest Income | $2.60 mln | ||
| Q2 Net Interest Margin | 3.86% |
