Catalyst Bancorp Reports Significant Third Quarter 2026 Net Income Growth Following Lakeside Acquisition
Catalyst Bancorp, Inc. (Nasdaq: CLST) reported a substantial increase in third-quarter 2026 net income, reaching $978,000 or $0.27 per diluted common share. This represents an 87% increase compared to the second quarter of 2026. The growth follows the July acquisition of Lakeside Bancshares, Inc., which added approximately $379.5 million in total assets to the company's portfolio. Despite incurring $883,000 in after-tax merger-related expenses during the quarter, the company achieved a non-GAAP net income of $1.9 million. CEO Joe Zanco noted that integration is progressing ahead of schedule, with further cost savings expected following a planned systems conversion in November. The company also benefited from a $261,000 reversal of provision for credit losses due to improvements in loan quality.
Tickers: $CLST
Topics: banking earnings per share merger and acquisition net income