Catalyst Bancorp(CLST) - 2025 Q3 - Quarterly Results

Financial Performance - Net income for the third quarter of 2025 was $489,000, a decrease of $32,000 or 6% from the second quarter of 2025[1] - Net interest income for the third quarter of 2025 was $2.5 million, down $18,000 or 1% from the previous quarter[16] - Non-interest income for Q3 2025 totaled $315,000, down $29,000 or 8% from Q2 2025, primarily due to refunded fees for foreign ATM usage[20] - Non-interest expense for Q3 2025 was $2.2 million, an increase of $24,000 or 1% compared to Q2 2025, with salaries and employee benefits rising by $50,000 or 4%[21] - The provision for credit losses in Q3 2025 was a reversal of $36,000, compared to a provision of $337,000 in Q3 2024[31] - Earnings per share for Q3 2025 were $0.13, unchanged from Q2 2025[31] - The efficiency ratio for Q3 2025 was 79.67%, compared to 77.46% in Q2 2025 and 71.72% in Q3 2024[33] Loans and Deposits - Total loans decreased by $2.8 million, or 2%, to $164.8 million as of September 30, 2025, compared to June 30, 2025[3] - The ratio of total loans to total deposits was 88% at September 30, 2025, down from 92% at June 30, 2025[11] - Total loans as of September 30, 2025, were $167,032,000, a slight decrease from $167,627,000 in Q2 2025 and an increase from $161,410,000 in Q3 2024[33] - Total deposits increased by $4.2 million, or 2%, to $186.4 million at September 30, 2025, driven by high-yield account specials[10] - Total deposits as of September 30, 2025, were $179,825,000, compared to $179,426,000 in Q2 2025 and $169,437,000 in Q3 2024[33] Asset Quality - Non-performing assets (NPAs) rose to $1.9 million, with a ratio of NPAs to total assets at 0.67% as of September 30, 2025[7] - Total non-performing loans increased to $1,823,000 in Q3 2025 from $1,670,000 in Q2 2025 and $1,438,000 in Q3 2024[36] - The total non-performing loans to total loans ratio was 1.11% in Q3 2025, up from 1.00% in Q2 2025 and 0.87% in Q3 2024[36] - The allowance for credit losses on loans was $2.4 million, or 1.45% of total loans, with a reversal of provision for credit losses of $36,000 recorded in the third quarter[8] Investments and Capital - Total investment securities increased by $15.6 million, or 35%, to $59.8 million, representing 21% of total assets[9] - The common equity Tier 1 capital ratio was 43.95% as of September 30, 2025, compared to 43.72% in Q2 2025[33] Stock Activity - The company repurchased 13,212 shares of common stock at an average cost of $12.93 during the third quarter of 2025[14] Branch Operations - Catalyst Bancorp, Inc. operates six full-service branches in Louisiana, focusing on commercial and retail banking products[23]