Filing Analysis
Catalyst Bancorp, Inc. announced a new three-year employment agreement for its President and CEO, Joseph B. Zanco, effective August 17, 2026. The agreement outlines compensation terms, including a base salary of $350,000 and various severance provisions.
🚩 Red Flags
- Significant severance obligations (36 months) in the event of a change in control.
📋 Key Facts
- New employment agreement for Joseph B. Zanco (President and CEO) effective August 17, 2026.
- Term of agreement is three years, expiring August 17, 2029.
- Base salary is set at $350,000 per annum.
- CEO is eligible for maximum stock option and restricted stock award allocations (25% of pools).
- Severance includes 12 months of base salary for involuntary termination without cause or 'good reason'.
- Change in control severance is enhanced to 36 months of base salary.
Catalyst Bancorp, Inc. has filed an 8-K to announce its financial results for the quarter ended June 30, 2026. The filing serves as a standard regulatory announcement of quarterly earnings.
📋 Key Facts
- Report date: July 30, 2026
- Reporting period: Quarter ended June 30, 2026
- The company is an emerging growth company.
- Results are accompanied by a press release (Exhibit 99.1).
Catalyst Bancorp, Inc. has completed the acquisition of Lakeside Bancshares, Inc. and its subsidiary, Lakeside Bank, via a cash-for-stock merger. The transaction involves an aggregate cash payment of $41.1 million to Lakeside shareholders.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Completion date: July 14, 2026
- Acquisition target: Lakeside Bancshares, Inc. and Lakeside Bank
- Total consideration: $41.1 million in cash ($19.58 per share)
- Lakeside Bank assets (as of March 31, 2026): $375.7 million
- Lakeside Bank loans (as of March 31, 2026): $229.8 million
- Lakeside Bank deposits (as of March 31, 2026): $277.6 million
- Acquisition includes four full-service branch locations in Calcasieu Parish.
Catalyst Bancorp, Inc. announced that Lakeside shareholders have approved the pending merger with Catalyst and all necessary regulatory approvals have been obtained. The transaction is expected to close on or about July 14, 2026.
🚩 Red Flags
- Integration risk: Management notes the risk that businesses may not be integrated successfully.
- Synergy risk: Potential for cost savings and synergies to take longer than expected or not fully realized.
📋 Key Facts
- Lakeside shareholders have approved the merger agreement dated April 7, 2026.
- All required regulatory approvals for the mergers of Lakeside/Lakeside Bank into Catalyst/Catalyst Bank have been received.
- The transaction is expected to close on or about July 14, 2026.
- Catalyst and Catalyst Bank will be the surviving entities in the merger.
Catalyst Bancorp, Inc. reported the voting results from its Annual Meeting of Shareholders held on May 19, 2026. Shareholders elected two directors to three-year terms and ratified the appointment of BDO USA, P.C. as the company's independent registered public accounting firm for 2026.
🚩 Red Flags
- There was a notable percentage of withheld votes for both director nominees, with Frederick R. Lafleur receiving 34.9% withheld votes and Matthew L. Scruggins receiving 30.2% withheld votes of the total votes cast for/withheld.
📋 Key Facts
- The Annual Meeting of Shareholders was held on May 19, 2026, with 2,932,637 shares represented out of 4,058,297 eligible shares (72.3% turnout).
- Frederick R. Lafleur was elected as director with 1,473,154 votes for and 790,019 votes withheld.
- Matthew L. Scruggins was elected as director with 1,578,557 votes for and 684,616 votes withheld.
- The appointment of BDO USA, P.C. as the independent registered public accounting firm for the fiscal year ending December 31, 2026, was ratified with 2,926,395 votes in favor.
Catalyst Bancorp, Inc. announced its financial results for the first quarter ended March 31, 2026. The announcement was made via a press release furnished as an exhibit to the filing.
📋 Key Facts
- Announced Q1 2026 financial results on April 30, 2026.
- Results cover the fiscal quarter ended March 31, 2026.
- The information was furnished under Item 2.02 and is not deemed filed for purposes of Section 18 of the Exchange Act.
Catalyst Bancorp (CLST) has entered into a definitive agreement to acquire Lakeside Bancshares, Inc. for approximately $41.1 million in cash. The transaction involves a share exchange followed by the merger of Lakeside Bank into Catalyst Bank, with an expected completion in the third quarter of 2026.
📋 Key Facts
- Catalyst Bancorp will pay $19.58 in cash for each outstanding share of Lakeside Bancshares common stock.
- The aggregate transaction value is approximately $41.1 million, subject to certain adjustments.
- The Boards of Directors of both companies have unanimously approved the Merger Agreement.
- Lakeside directors and certain shareholders have entered into Support Agreements to vote in favor of the merger.
- Lakeside directors have signed Restrictive Covenant Agreements including non-compete provisions.
- The deal is expected to close in Q3 2026, pending regulatory and Lakeside shareholder approval.
Catalyst Bancorp, Inc. filed an 8-K to announce its financial results for the quarter ended December 31, 2025. The filing serves as a formal notification of the release of quarterly earnings data.
📋 Key Facts
- Report date: January 29, 2026
- Reporting period: Quarter ended December 31, 2025
- The company is an 'emerging growth company' as defined by the SEC
- Financial results were released via press release (Exhibit 99.1)
Catalyst Bancorp, Inc. announced the approval of its sixth share repurchase program by the Board of Directors. The new plan allows for the purchase of up to 205,000 shares, representing approximately 5% of outstanding common stock.
📋 Key Facts
- Board approved the 'November 2025 Repurchase Plan' on November 20, 2025.
- The plan authorizes the repurchase of up to 205,000 shares (~5% of outstanding common stock).
- Repurchases can occur via open market or privately-negotiated transactions.
- This is a new program in addition to the 'November 2024 Repurchase Plan', which has 18,183 shares remaining for repurchase.
Catalyst Bancorp, Inc. announced a change in its independent registered public accounting firm following the resignation of HORNE LLP due to their professional staff joining BDO USA, P.C. The Company has appointed BDO as its new auditor.
🚩 Red Flags
- Auditor change: While described as a result of staff movement to another firm (BDO), auditor changes in micro-cap companies often warrant scrutiny regarding audit quality or timing, despite the lack of reported disagreements.
📋 Key Facts
- HORNE LLP resigned as the independent registered public accounting firm on October 31, 2025.
- The resignation was triggered by HORNE's professional staff joining BDO USA, P.C.
- BDO USA, P.C. was appointed as the new independent registered public accounting firm on November 5, 2025.
- HORNE reported no disagreements with the Company regarding accounting principles, practices, or auditing scope during their tenure (March 28, 2025 – October 31, 2025).
- The Company has not yet received any reports from HORNE on its financial statements for the current period.
Catalyst Bancorp, Inc. has filed an 8-K to announce its financial results for the quarter ended September 30, 2025. The filing serves as a formal announcement of quarterly earnings performance.
📋 Key Facts
- Report date: October 23, 2025
- Reporting period: Quarter ended September 30, 2025
- The company is an emerging growth company.
- Results were announced via a press release attached as Exhibit 99.1.
Catalyst Bancorp, Inc. announced its financial results for the quarter ended June 30, 2025. The filing serves as a formal notice of the release of quarterly earnings data.
📋 Key Facts
- Reporting period: Quarter ended June 30, 2025
- Report date: July 24, 2025
- The company is an emerging growth company as defined by the SEC.
Catalyst Bancorp, Inc. held its Annual Meeting of Shareholders on May 20, 2025. The results included the election of directors and ratification of the independent auditor.
📋 Key Facts
- Annual Meeting held on May 20, 2025.
- Quorum established with 3,567,299 shares represented (out of 4,205,201 eligible).
- Todd A. Kidder and Kirk E. Kleiser were elected to the Board of Directors for three-year terms.
- Shareholders ratified the appointment of HORNE LLP as independent registered public accounting firm for fiscal year ending Dec 31, 2025.
- A non-binding resolution regarding executive compensation was adopted.
Catalyst Bancorp, Inc. filed an 8-K to announce its financial results for the quarter ended March 31, 2025. The filing serves as a formal announcement of quarterly earnings and includes a corresponding press release.
📋 Key Facts
- Reporting period: Quarter ended March 31, 2025
- Filing date: April 24, 2025
- The company is an emerging growth company as defined by the SEC.
- Results of operations and financial condition were announced via a press release (Exhibit 99.1).
Catalyst Bancorp, Inc. is amending its previous 8-K to confirm the transition of its independent registered public accounting firm from Castaing, Hussey & Lolan, LLC (CHL) to HORNE LLP for the fiscal year ending December 31, 2025.
🚩 Red Flags
- None identified. The filing explicitly states there were no disagreements or reportable events with the outgoing auditor.
📋 Key Facts
- The company engaged HORNE LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Castaing, Hussey & Lolan, LLC (CHL) completed the audit for the fiscal year ended December 31, 2024, and filed the 10-K on March 28, 2025.
- The company confirms there were no disagreements with CHL regarding accounting principles, practices, financial statement disclosure, or auditing scope/procedures.
- No 'reportable events' occurred during the fiscal years 2023, 2024, or the interim period through March 28, 2025.
- The company did not consult with HORNE LLP regarding specific accounting treatments or audit opinions prior to this decision.
Catalyst Bancorp, Inc. filed an 8-K to announce its financial results for the quarter ended December 31, 2024. The filing serves as a formal announcement of quarterly earnings and includes a related press release.
📋 Key Facts
- Report date: January 23, 2025
- Reporting period: Quarter ended December 31, 2024
- The company is an emerging growth company as defined by the SEC.
- Financial results were released via a press release attached as Exhibit 99.1.
Catalyst Bancorp, Inc. announced the approval of its fifth share repurchase program by the Board of Directors. The new plan allows for the purchase of up to 215,000 shares, representing approximately 5% of outstanding common stock.
📋 Key Facts
- Board approved the 'November 2024 Repurchase Plan' on November 25, 2024.
- The plan authorizes the repurchase of up to 215,000 shares (approx. 5% of outstanding common stock).
- Repurchases can occur via open market or privately-negotiated transactions.
- This is a new program in addition to the 'May 2024 Repurchase Plan'.
- As of November 26, 2024, only 9,799 shares remained available under the previous May 2024 plan.
Catalyst Bancorp, Inc. announced the engagement of HORNE LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2025. The current auditor, Castaing, Hussey & Lolan, LLC (CHL), will remain in place through the end of the 2024 fiscal year.
🚩 Red Flags
- None identified; the filing explicitly states there were no disagreements or reportable events with the outgoing auditor.
📋 Key Facts
- New auditor: HORNE LLP to begin services for fiscal year ending December 31, 2025.
- Current auditor: Castaing, Hussey & Lolan, LLC (CHL) will continue through the end of 2024.
- The change follows a competitive bidding process conducted by the Audit Committee.
- No disagreements with current auditor CHL regarding accounting principles, practices, or auditing scope were reported for fiscal years 2022, 2023, or interim 2024.
Catalyst Bancorp, Inc. filed an 8-K to announce its quarterly results for the period ended September 30, 2024. The filing serves as a formal announcement of financial performance and includes a related press release.
📋 Key Facts
- Report date: October 24, 2024
- Reporting period: Quarter ended September 30, 2024
- The company is an emerging growth company as defined by the SEC
- Financial results were released via press release (Exhibit 99.1)
Catalyst Bancorp, Inc. announced its quarterly financial results for the period ending June 30, 2024. The filing serves as a formal announcement of the company's operational and financial performance via an attached press release.
📋 Key Facts
- Quarterly earnings results reported for the quarter ended June 30, 2024.
- Filing date: July 31, 2024.
- Company is classified as an 'emerging growth company' under SEC rules.
Catalyst Bancorp, Inc. held its Annual Meeting of Shareholders on May 21, 2024. The meeting resulted in the successful election of three directors and the ratification of the company's independent auditor.
📋 Key Facts
- Annual Meeting held on May 21, 2024.
- Quorum was established with 3,508,736 shares represented (out of 4,558,329 eligible shares).
- Three directors elected: Ted D. Bellard, Craig C. LeBouef, and Joseph B. Zanco.
- Shareholders ratified the appointment of Castaing, Hussey & Lolan, LLC as independent auditors for the fiscal year ending December 31, 2024.
Catalyst Bancorp, Inc. announced its Q1 2024 financial results and entered into a new employment agreement with Chief Risk Officer Don Ledet. Additionally, the Board approved a fourth share repurchase plan covering approximately 5% of outstanding common stock.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Announced quarterly results for the period ended March 31, 2024 (Item 2.02).
- Entered into an employment agreement with Don Ledet (Chief Risk Officer) effective May 2, 2024.
- Don Ledet's new agreement includes a base salary of $150,000 and terms extending to September 1, 2027.
- Approved the 'May 2024 Repurchase Plan' to buy back up to 227,000 shares (approx. 5% of outstanding common stock).
- The company is classified as an emerging growth company.
Catalyst Bancorp, Inc. filed an 8-K to announce its quarterly and annual financial results for the period ending December 31, 2023.
📋 Key Facts
- Report date: January 25, 2024
- Reporting periods covered: Quarterly and Annual results ended December 31, 2023
- The filing includes a press release as Exhibit 99.1 regarding the financial results.