Catalyst Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 02:54 pm EDT
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Catalyst Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 1.9 million compared to USD 1.81 million a year ago. Net income was USD 0.039 million compared to USD 0.015 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.01.
For the six months, net interest income was USD 3.87 million compared to USD 3.56 million a year ago. Net income was USD 0.112 million compared to net loss of USD 0.126 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.02 a year ago. Diluted earnings per share from continuing operations was USD 0.03.
Catalyst Bancorp, Inc. is a bank holding company for Catalyst Bank (the Bank). The Bank is a federally chartered community-oriented savings bank. The Bank is primarily engaged in attracting deposits from the general public and using those funds to invest in loans and securities. The Bankâs principal sources of funds are customer deposits, repayments of loans, maturities of investments and funds borrowed from outside sources, such as the Federal Home Loan Bank (FHLB) of Dallas or the Federal Reserve Bank of Atlanta. These funds are primarily used for the origination of loans, including single-family residential first mortgage loans, commercial real estate mortgage loans, multi-family residential mortgage loans, commercial and industrial loans, construction and land loans and other loans. The Bank offers commercial and retail banking products through its six full-service branches located in Carencro, Eunice, Lafayette, Opelousas, and Port Barre.
CATALYST BANCORP, INC. 
