secwatch.observer — SEC 8-K summary
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Issuer:     Catalyst Bancorp, Inc. (CLST)
CIK:        0001849867
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001849867-24-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Catalyst Bancorp reports Q1 net loss of $4.7M; approves new share repurchase plan
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- Net loss of $4.7M includes $5.5M loss on sale of $48M in lower-yielding securities and $560K core system conversion costs.
- Proceeds of $42.6M from securities sale to be used for loans, higher-yielding investments, share repurchases, and debt repayment.
- Board approved May 2024 Repurchase Plan to buy back up to 227,000 shares (~5% of outstanding common stock).
- Entered employment agreement with Don Ledet as Chief Risk Officer: base salary of $150,000, three-year term through May 2027.
- Net interest margin increased to 3.15% from 3.14% QoQ; net interest income rose 8% to $2.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849867/000184986724000015/0001849867-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849867/000184986724000015/clst-20240502x8k.htm
  HTML page:      https://secwatch.observer/filing/0001849867-24-000015

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