Catalyst Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 27, 2022 at 01:11 pm EDT
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Catalyst Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was USD 1.87 million compared to USD 1.66 million a year ago. Net income was USD 0.139 million compared to USD 1.43 million a year ago. Basic earnings per share from continuing operations was USD 0.03. Diluted earnings per share from continuing operations was USD 0.03.
For the nine months, net interest income was USD 5.43 million compared to USD 5.2 million a year ago. Net income was USD 0.026 million compared to USD 1.84 million a year ago. Basic earnings per share from continuing operations was USD 0.01. Diluted earnings per share from continuing operations was USD 0.01.
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. 
