- Catalyst Bancorp (CLST, Financial) reported a net income of $586,000 for Q1 2025, down from $626,000 in Q4 2024.
- Total loans decreased by $1.0 million to $166.1 million, while deposits dropped by $5.1 million to $180.6 million.
- The company continued its share repurchase program and has bought back approximately 21% of its originally issued shares since January 2023.
Catalyst Bancorp, Inc. (CLST) announced its financial results for the first quarter of 2025, reporting a net income of $586,000, a decline from the $626,000 recorded in the fourth quarter of 2024. The company's total loans stood at $166.1 million as of March 31, 2025, marking a decrease of $1.0 million from the previous quarter. Total deposits fell by $5.1 million, reaching $180.6 million.
The net interest margin for the first quarter was 3.89%, a decrease of 3 basis points from the prior quarter. Although the net interest income declined by 4% to $2.4 million, non-performing assets improved slightly to 0.63% of total assets, down from 0.66%. The allowance for credit losses remained steady at $2.5 million.
Reflecting a strong capital position, shareholders' equity totaled $80.6 million, comprising 29.7% of total assets. The company has been actively engaging in its share repurchase program, having bought back 72,949 shares during the quarter at an average price of $11.86 per share. Since January 2023, Catalyst Bancorp has repurchased around 21% of its originally issued shares.
"Loan growth was muted to start the year as market turbulence caused some of our customers to delay projects," noted Joe Zanco, President and CEO of the company and bank. Despite these challenges, Catalyst Bancorp maintains a robust capital structure and continues to execute its share repurchase strategy to enhance shareholder value.
