Catalyst Bancorp Q3 net income $1.4M; IPO raises $52.9M; CDFI grant $1.8M

Catalyst Bancorp, Inc.

Net income $1.4M in Q3 2021 vs $260K in Q2; driven by $1.8M CDFI Rapid Response Program grant recognized in non-interest income.
Completed IPO on Oct 12, 2021: sold 5,290,000 shares at $10 each for $52.9M; began trading on Nasdaq under "CLST" on Oct 13.
Loans fell $3.6M (-2.5%) to $136.7M; NPAs down 7.9% to $1.8M; allowance for loan losses 1.94% of total loans.
Deposits up $71.9M (+40%) to $249.5M due to IPO subscription cash; net interest margin decreased to 2.84% from 3.30%.
No provision for loan losses in Q3 vs reversal of $286K in Q2; net charge-offs minimal at $3K.

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