Prnewswire·2025-07-24 11:00Core Insights - Catalyst Bancorp, Inc. reported a net income of $521,000 for Q2 2025, a decrease from $586,000 in Q1 2025 [1][28] - The company experienced growth in both loans and deposits during the quarter, indicating a positive trend in business operations [2] Financial Performance - Total loans reached $167.6 million as of June 30, 2025, reflecting an increase of $1.5 million, or less than 1%, from March 31, 2025 [2][3] - The composition of the loan portfolio showed mixed results, with real estate loans totaling $140.3 million, up $1.6 million, while construction and land loans decreased by $11.4 million, or 36% [3][5] - Non-interest income for Q2 2025 was $344,000, down $209,000, or 38%, compared to Q1 2025, primarily due to the absence of insurance proceeds received in the previous quarter [19] Credit Quality - Non-performing assets totaled $1.8 million at June 30, 2025, compared to $1.7 million at March 31, 2025, with a ratio of NPAs to total assets at 0.64% [7][8] - The allowance for credit losses on loans was $2.4 million, or 1.45% of total loans, down from $2.5 million, or 1.51%, in the previous quarter [8] Deposits - Total deposits increased to $182.2 million at June 30, 2025, up $1.6 million, or 1%, from March 31, 2025 [9][10] - The ratio of total loans to total deposits remained stable at 92% for both periods [10] Capital and Share Repurchases - Consolidated shareholders' equity was $80.8 million, or 29.5% of total assets, as of June 30, 2025 [12] - The company repurchased 62,385 shares at an average cost of $11.91 during Q2 2025, totaling 1,147,184 shares repurchased since the initiation of the share repurchase plan [13] Net Interest Income - Net interest income for Q2 2025 was $2.5 million, an increase of $103,000, or 4%, from Q1 2025 [15] - The net interest margin improved to 3.98%, up nine basis points from the previous quarter [14] Selected Ratios - Return on average assets was 0.77% for Q2 2025, while return on average equity was 2.59% [30] - The efficiency ratio was reported at 77.46% for the quarter [30]