Catalyst Bancorp Q2 Net Interest Margin Rises to 3.86% After Lakeside Deal
CLST sits 36% above its 52-week low of $12.25.
Summary
Catalyst Bancorp's Q2 net interest margin expanded to 3.86%, up from the prior quarter, with net interest income reaching $2.60 million. The improvement comes as the company completed its $41.1 million acquisition of Lakeside Bancshares on July 14, which added $87,000 in merger-related costs this quarter. A $104,000 reversal of credit loss provisions also boosted results, reflecting lower construction loan balances and fewer classified CRE loans. Deposit growth was fueled by high-yield savings accounts. Net income and diluted EPS dipped slightly from Q1, but the margin expansion signals early accretion from the Lakeside deal. With the merger now closed, the full impact on the balance sheet will show in Q3.
At the time of this announcement, CLST was trading at $16.71 on NASDAQ in the Finance sector, with a market capitalization of approximately $67.7M. The 52-week trading range was $12.25 to $18.16. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.