Catalyst Bancorp Q2 net income $18,000; NIM rises to 2.71%

Catalyst Bancorp, Inc.

Net income of $18,000 vs net loss of $131,000 in Q1 2022; net interest income $1.81M, up 3% QoQ.
Net interest margin expanded 12 bps to 2.71% as average yield on earning assets rose to 2.94%.
Loans grew 1% to $133.6M; NPAs steady at $1.6M (0.57% of assets); allowance for loan losses at 1.48%.
Rebranding costs $208K were offset by a $171K CDFI BEA grant; total non-interest expense $2.4M, up 9% QoQ.
Deposits decreased $4.3M to $178.7M; net unrealized losses on AFS securities increased to $8.4M.

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