secwatch.observer — SEC 8-K summary
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Issuer:     Catalyst Bancorp, Inc. (CLST)
CIK:        0001849867
Form:       8-K
Filed at:   2021-10-28T23:59:59+00:00
Accession:  0001558370-21-013692
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849867/000155837021013692/0001558370-21-013692-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849867/000155837021013692/clst-20211028x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-21-013692

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer