# EDGAR Filing Document

**Accession Number:** 0001849867
**File Stem:** 0001849867-26-000002
**Filing Date:** 2026-1
**Character Count:** 35166
**Document Hash:** 851fc363fefa4f28b0f3c3f3f8352983
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001849867-26-000002.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0001849867-26-000002

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260129

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Catalyst Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001849867
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 862411762

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40893
- **FILM NUMBER:** 26578821

**BUSINESS ADDRESS:**
- **STREET 1:** 235 N. COURT STREET
- **CITY:** OPELOUSAS
- **STATE:** LA
- **ZIP:** 70570
- **BUSINESS PHONE:** 337-948-3033

**MAIL ADDRESS:**
- **STREET 1:** 235 N. COURT STREET
- **CITY:** OPELOUSAS
- **STATE:** LA
- **ZIP:** 70570

?xml version='1.0' encoding='ASCII'? Catalyst Bancorp, Inc._January 29, 2026

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) <u>January 29, 2026</u>

Catalyst Bancorp, Inc.

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| Louisiana | 001-40893 | 86-2411762 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

<u>235 N. Court Street, Opelousas, Louisiana</u> <u>70570</u> <br> (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code <u>(337) 948-3033</u>

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each Class | Trading<br>Symbol(s) | Name of each exchange on which registered |
| Common Stock | CLST | Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

#### ITEM 2.02 Results of Operations and Financial Condition
On January 29, 2026, Catalyst Bancorp, Inc. (the "Company") announced its results for the quarter ended December 31, 2025. A copy of the related press release (the "Press Release") is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished under items 2.02 and 9.01 of this Current Report on Form 8-K, including the exhibit, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that Section, and it shall not be deemed incorporated by reference in any filing under the Exchange Act, or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing to this Form 8-K.

#### ITEM 9.01 Financial Statements and Exhibits
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

The following exhibits are included herein:

---

| | |
|:---|:---|
| Exhibit Number | Description |
| 99.1 | [Press Release, dated January 29, 2026](clst-20260129xex99d1.htm) |
| 104 | Cover Page Interactive Data File. Embedded within the Inline XBRL document. |

---

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  | **CATALYST BANCORP, INC.** | **CATALYST BANCORP, INC.** |
| Date: | January 29, 2026 | By: | /s/ Joseph B. Zanco |
|  |  |  | Joseph B. Zanco |
|  |  |  | President and Chief Executive Officer |

---

## Exhibit 99.1

#### Exhibit 99.1
**For more information:**

Joe Zanco, President and CEO

(337) 948-3033

**For Immediate Release**

Release Date: January 29, 2026

#### Catalyst Bancorp, Inc. Announces 2025 Fourth Quarter Results
Opelousas, Louisiana – Catalyst Bancorp, Inc. (Nasdaq: "CLST") (the "Company"), the parent company for Catalyst Bank (the "Bank") (www.catalystbank.com), reported net income of $456,000, or $0.13 per diluted common share ("diluted EPS"), for the fourth quarter of 2025, compared to net income of $489,000, or $0.13 diluted EPS, for the third quarter of 2025. For the year ended December 31, 2025, the Company reported net income of $2.1 million, or $0.56 diluted EPS, compared to a net loss of $3.1 million for the year ended December 31, 2024.

"Loan growth was strong during the quarter," said Joe Zanco, President and Chief Executive Officer of the Company and Bank. "We're also pleased to see our net interest margin widen as funding costs declined."

------

#### Loans
Loans totaled $170.2 million at December 31, 2025, up $5.4 million, or 3%, from September 30, 2025. The following table sets forth the composition of the Company's loan portfolio as of the dates indicated.

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***(Dollars in thousands)*** | **12/31/2025** | **9/30/2025** | **Change** | **Change** |
| **Real estate loans** |  |  |  |  |
| &nbsp;&nbsp;One- to four-family residential | $80123 | $78373 | $1750 | 2% |
| &nbsp;&nbsp;Commercial real estate | 32872 | 33679 | (807) | (2) |
| &nbsp;&nbsp;Construction and land | 18806 | 18850 | (44) | - |
| &nbsp;&nbsp;Multi-family residential | 5309 | 5367 | (58) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total real estate loans | 137110 | 136269 | 841 | 1 |
| **Other loans** |  |  |  |  |
| &nbsp;&nbsp;Commercial and industrial | 31205 | 25665 | 5540 | 22% |
| &nbsp;&nbsp;Consumer | 1895 | 2833 | (938) | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other loans | 33100 | 28498 | 4602 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | $170210 | $164767 | $5443 | 3 |

---

During the fourth quarter of 2025, a $2.2 million construction loan was converted to a fixed-rate residential mortgage loan. The increase in commercial and industrial loans during the fourth quarter of 2025 was largely driven by growth within the oilfield services segment of our loan portfolio.

The following table presents certain major segments of our commercial real estate, construction and land, and commercial and industrial loan balances as of the dates indicated.

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***(Dollars in thousands)*** | **12/31/2025** | **9/30/2025** | **Change** | **Change** |
| **Commercial real estate** |  |  |  |  |
| &nbsp;&nbsp;Retail | $9455 | $9725 | $(270) | (3)% |
| &nbsp;&nbsp;Hospitality | 5632 | 5742 | (110) | (2) |
| &nbsp;&nbsp;Health service facilities | 3300 | 3325 | (25) | (1) |
| &nbsp;&nbsp;Restaurants | 1071 | 1095 | (24) | (2) |
| &nbsp;&nbsp;Oilfield services | 365 | 374 | (9) | (2) |
| &nbsp;&nbsp;Other non-owner occupied | 2349 | 2380 | (31) | (1) |
| &nbsp;&nbsp;Other owner occupied | 10700 | 11038 | (338) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial real estate | $32872 | $33679 | $(807) | (2) |
| **Construction and land** |  |  |  |  |
| &nbsp;&nbsp;Multi-family residential | $4749 | $4692 | $57 | 1% |
| &nbsp;&nbsp;Health service facilities | 10547 | 9695 | 852 | 9 |
| &nbsp;&nbsp;Other commercial construction and land | 2112 | 1772 | 340 | 19 |
| &nbsp;&nbsp;Consumer residential construction and land | 1398 | 2691 | (1293) | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total construction and land | $18806 | $18850 | $(44) | - |
| **Commercial and industrial** |  |  |  |  |
| &nbsp;&nbsp;Oilfield services | $17295 | $9532 | $7763 | 81% |
| &nbsp;&nbsp;Industrial equipment | 7064 | 7865 | (801) | (10) |
| &nbsp;&nbsp;Professional services | 3531 | 3187 | 344 | 11 |
| &nbsp;&nbsp;Other commercial and industrial | 3315 | 5081 | (1766) | (35) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial loans | $31205 | $25665 | $5540 | 22 |

---

------

#### Credit Quality and Allowance for Credit Losses
At December 31, 2025, non-performing assets ("NPAs") totaled $2.7 million, compared to $1.9 million at September 30, 2025. The increase in NPAs was mainly due to an increase in non-accruing one- to four-family residential mortgage loans. The ratio of NPAs to total assets was 0.95% and 0.67% at December 31 and September 30, 2025, respectively. Non-performing loans ("NPLs") were 1.55% and 1.11% of total loans at December 31 and September 30, 2025, respectively. At December 31, 2025, 95% of total NPLs were one- to four-family residential mortgage loans, compared to 99% at September 30, 2025.

At December 31, 2025, the allowance for credit losses on loans totaled $2.4 million, or 1.39% of total loans, compared to $2.4 million, or 1.45% of total loans, at September 30, 2025. The provision for credit losses was $96,000 for the fourth quarter of 2025, compared to a $36,000 reversal of provision for credit losses for the third quarter of 2025. The provision for credit losses during the fourth quarter of 2025 was primarily driven by an increase in construction loan commitments and loan growth. Net loan charge-offs totaled $42,000 during the fourth quarter of 2025, compared to net charge-offs of $2,000 during the third quarter of 2025. Net loan charge-offs during 2025 have been primarily related to residential mortgage loans and overdrawn deposit accounts.

#### Investment Securities
Total investment securities were $65.4 million, or 23% of total assets, at December 31, 2025, up $5.6 million, or 9%, compared to September 30, 2025. During the fourth quarter of 2025, we purchased $5.0 million of variable-rate and $2.4 million of fixed-rate government-sponsored mortgage-backed securities. The weighted average yield of the securities purchased during the fourth quarter was 4.63% at December 31, 2025.

------

#### Deposits
Total deposits were $185.3 million at December 31, 2025, down $1.1 million, or 1%, from September 30, 2025. Total deposits averaged $181.5 million during the fourth quarter of 2025, compared to $179.8 million during the third quarter of 2025. The ratio of the Company's total loans to total deposits was 92% and 88% at December 31 and September 30 2025, respectively.

The following table sets forth the composition of the Company's deposits as of the dates indicated.

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***(Dollars in thousands)*** | **12/31/2025** | **9/30/2025** | **Change** | **Change** |
| Non-interest-bearing demand deposits | $29991 | $27617 | $2374 | 9% |
| Interest-bearing demand deposits | 32851 | 35748 | (2897) | (8) |
| Money market | 10235 | 11783 | (1548) | (13) |
| Savings | 53831 | 52152 | 1679 | 3 |
| Certificates of deposit | 58366 | 59072 | (706) | (1) |
| &nbsp;&nbsp;Total deposits | $185274 | $186372 | $(1098) | (1) |

---

The increase in non-interest-bearing demand deposits was primarily due to an increase in commercial deposits.

The decline in interest-bearing demand deposits was primarily due to a decrease in public fund deposits. Total public fund deposits amounted to $26.4 million, or 14% of total deposits, at December 31, 2025, compared to $30.5 million, or 16% of total deposits, at September 30, 2025. At December 31 and September 30, 2025, approximately 59% and 64%, respectively, of our total public fund deposits consisted of non-interest-bearing and interest-bearing demand deposits.

The decline in money market deposits was largely driven by decreases in balances of high-yield, personal deposits.

#### Capital and Share Repurchases
At December 31 and September 30, 2025, consolidated shareholders' equity totaled $81.7 million, or 28.9% of total assets, and $81.6 million, or 28.7% of total assets, respectively.

The Company repurchased 54,693 shares of its common stock at an average cost per share of $14.76 during the fourth quarter of 2025, compared to 13,212 shares at an average cost per share of $12.93 during the third quarter of 2025. During the fourth quarter of 2025, the Company completed repurchases under the November 2024 Repurchase Plan and announced the Company's sixth share repurchase plan (the "November 2025 Repurchase Plan"). Under the November 2025 Repurchase Plan, the Company may purchase up to 205,000 shares, or approximately 5%, of the Company's outstanding common stock. At December 31, 2025, 188,911 shares of the Company's common stock were available for repurchase under the November 2025 Repurchase Plan.

Since the announcement of our first share repurchase plan on January 26, 2023 and through December 31, 2025, the Company has repurchased a total of 1,215,089 shares of its common stock, or 23% of the common shares originally issued, at an average cost per share of $12.06. At December 31, 2025, the Company had common shares outstanding of 4,074,911.

------

#### Net Interest Income
The net interest margin for the fourth quarter of 2025 was 3.91%, up three basis points compared to the prior quarter. For the fourth quarter of 2025, the average yield on interest-earning assets was 5.53%, down three basis points from the prior quarter, and the average rate paid on interest-bearing liabilities was 2.50%, down 12 basis points from the third quarter of 2025.

Net interest income for the fourth quarter of 2025 was $2.5 million, up $57,000, or 2%, compared to the third quarter of 2025. Total interest income was up $35,000, or 1%, in the fourth quarter of 2025 compared to the prior quarter largely due to an increase in income on investment securities, which was partially offset by a decline in interest income on cash and due from banks. The change in interest income was largely the result of bond purchases during the third and fourth quarters of 2025. Total interest expense decreased $22,000, or 2%, in the fourth quarter of 2025 compared to the prior quarter. The decline in interest expense was mainly due to lower interest rates on public fund deposits and high-yield savings accounts during the fourth quarter of 2025. The decline in interest expense on deposits was partially offset by an increase in interest expense on borrowings due to an increase in the volume of short-term FHLB advances during the fourth quarter of 2025.

The following table sets forth, for the periods indicated, the Company's total dollar amount of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Taxable equivalent ("TE") yields have been calculated using a marginal tax rate of 21%. All average balances are based on daily balances.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  |
| | **12/31/2025** | **12/31/2025** | **12/31/2025** | **9/30/2025** | **9/30/2025** | **9/30/2025** |
| <br>***(Dollars in thousands)*** | **Average Balance** | **Interest** | **Average Yield/ Rate**<sup>(TE)</sup> | **Average Balance** | **Interest** | **Average Yield/ Rate**<sup>(TE)</sup> |
| **INTEREST-EARNING ASSETS** |  |  |  |  |  |  |
| &nbsp;&nbsp;Loans receivable<sup>(1)</sup> | $167335 | $2815 | 6.68% | $167032 | $2816 | 6.69% |
| &nbsp;&nbsp;Investment securities<sup>(2)</sup> | 65352 | 511 | 3.17 | 51731 | 345 | 2.71 |
| &nbsp;&nbsp;Other interest earning assets | 22567 | 222 | 3.91 | 32241 | 352 | 4.33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | $255254 | $3548 | 5.53 | $251004 | $3513 | 5.56 |
| **INTEREST-BEARING LIABILITIES** |  |  |  |  |  |  |
| &nbsp;&nbsp;Demand deposits, money market, and savings accounts | $93710 | $467 | 1.98% | $94308 | $529 | 2.22% |
| &nbsp;&nbsp;Certificates of deposit | 58677 | 475 | 3.21 | 56113 | 454 | 3.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 152387 | 942 | 2.45 | 150421 | 983 | 2.59 |
| &nbsp;&nbsp;Borrowings | 12884 | 99 | 3.08 | 10699 | 80 | 2.97 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | $165271 | $1041 | 2.50 | $161120 | $1063 | 2.62 |
| **Net interest-earning assets** | $89983 |  |  | $89884 |  |  |
| **Net interest income; average interest rate spread** |  | $2507 | 3.03% |  | $2450 | 2.94% |
| **Net interest margin**<sup>(3)</sup> |  |  | 3.91 |  |  | 3.88 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes non-accrual loans during the respective periods. Calculated net of deferred fees and discounts and loans in-process.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Average investment securities does not include unrealized holding gains/losses on available-for-sale securities.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Equals net interest income divided by average interest-earning assets. Taxable equivalent yields are calculated using a marginal tax rate of 21%.

------

#### Non-interest Income
Non-interest income for the fourth quarter of 2025 totaled $362,000, up $47,000, or 15%, compared to the third quarter of 2025. During the third quarter of 2025, we corrected an immaterial technical error related to fees charged for the use of foreign ATMs and refunded $30,000 of fees that were applied in error. The refunded fees decreased income from service charges on deposit accounts for the third quarter of 2025.

Income from bank-owned life insurance increased by $11,000, or 9%, for the fourth quarter of 2025 compared to the prior quarter largely due to an internal exchange of certain existing policies.

#### Non-interest Expense
Non-interest expense for the fourth quarter of 2025 totaled $2.2 million, up $20,000, or 1%, compared to the third quarter of 2025.

Salaries and employee benefits expense for the fourth quarter of 2025 totaled $1.3 million, up $22,000, or 2%, from the prior quarter. The increase was largely due to a new hire, an increase in compensation expense related to the Employee Stock Ownership Plan due to a rise in the Company's average stock price, and annual raises that were made effective during the fourth quarter of 2025.

Occupancy and equipment expense for the fourth quarter of 2025 totaled $196,000, down $24,000, or 11%, from the prior quarter. During the third quarter of 2025, the Company incurred additional repairs and maintenance costs for a vandalized ATM. During the fourth quarter of 2025, landscaping and utilities expenses were down driven by cooler temperatures during the last three months of the year.

Foreclosed assets expense for the fourth quarter of 2025 totaled $17,000, up $10,000 from the prior quarter. In the fourth quarter of 2025, the Company incurred a loss of $14,000 on the sale of foreclosed real estate. The third quarter of 2025 included a $4,000 write-down on foreclosed assets.

**About Catalyst Bancorp, Inc.**

Catalyst Bancorp, Inc. (Nasdaq: CLST) is a Louisiana corporation and registered bank holding company for Catalyst Bank, its wholly-owned subsidiary, with $282.9 million in assets at December 31, 2025. Catalyst Bank, formerly St. Landry Homestead Federal Savings Bank, has been in operation in the Acadiana region of south-central Louisiana since 1922. With a focus on fueling business and improving lives throughout the region, Catalyst Bank offers commercial and retail banking products through our six full-service branches located in Carencro, Eunice, Lafayette, Opelousas, and Port Barre. To learn more about Catalyst Bancorp and Catalyst Bank, visit www.catalystbank.com, or the website of the Securities and Exchange Commission, www.sec.gov.

------

#### Forward-looking Statements
*This news release reflects industry conditions, Company performance and financial results and contains "forward-looking statements,' which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. These forward-looking statements are subject to a number of risk factors and uncertainties which could cause the Company's actual results and experience to differ materially from the anticipated results and expectation expressed in such forward-looking statements.*

*Factors that could cause our actual results to differ materially from our forward-looking statements are described under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Supervision and Regulation" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC's website and the Company's website, each of which are referenced above. To the extent that statements in this news release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology.* 

*Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. All information is as of the date of this news release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.*

------

---

| | | | |
|:---|:---|:---|:---|
| **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** |
| **CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION** | **CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION** | **CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION** | **CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| ***(Dollars in thousands)*** | **12/31/2025** | **9/30/2025** | **12/31/2024** |
| **ASSETS** |  |  |  |
| &nbsp;&nbsp;Non-interest-bearing cash | $4132 | $4515 | $4076 |
| &nbsp;&nbsp;Interest-bearing cash and due from banks | 21073 | 32756 | 40219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash and cash equivalents | 25205 | 37271 | 44295 |
| &nbsp;&nbsp;Investment securities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities available-for-sale, at fair value | 50467 | 44853 | 28712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities held-to-maturity | 14917 | 14945 | 13447 |
| &nbsp;&nbsp;Loans receivable, net of unearned income | 170210 | 164767 | 167076 |
| &nbsp;&nbsp;Allowance for credit losses | (2367) | (2397) | (2522) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans receivable, net  | 167843 | 162370 | 164554 |
| &nbsp;&nbsp;Accrued interest receivable | 907 | 861 | 851 |
| &nbsp;&nbsp;Foreclosed assets | 34 | 76 | 194 |
| &nbsp;&nbsp;Premises and equipment, net | 5850 | 5954 | 6085 |
| &nbsp;&nbsp;Stock in correspondent banks, at cost | 1139 | 939 | 1961 |
| &nbsp;&nbsp;Bank-owned life insurance | 14983 | 14849 | 14489 |
| &nbsp;&nbsp;Other assets | 1582 | 1716 | 2109 |
| **TOTAL ASSETS** | $282927 | $283834 | $276697 |
| **LIABILITIES** |  |  |  |
| &nbsp;&nbsp;Deposits: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing | $29991 | $27617 | $28281 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | 155283 | 158755 | 157393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 185274 | 186372 | 185674 |
| &nbsp;&nbsp;Borrowings | 14732 | 14693 | 9558 |
| &nbsp;&nbsp;Other liabilities | 1196 | 1184 | 1261 |
| **TOTAL LIABILITIES** | 201202 | 202249 | 196493 |
| **SHAREHOLDERS' EQUITY** |  |  |  |
| &nbsp;&nbsp;Common stock | 41 | 41 | 43 |
| &nbsp;&nbsp;Additional paid-in capital | 37363 | 37997 | 39561 |
| &nbsp;&nbsp;Unallocated common stock held by benefit plans | (5182) | (5260) | (5702) |
| &nbsp;&nbsp;Retained earnings | 51912 | 51456 | 49860 |
| &nbsp;&nbsp;Accumulated other comprehensive loss | (2409) | (2649) | (3558) |
| **TOTAL SHAREHOLDERS' EQUITY** | 81725 | 81585 | 80204 |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | $282927 | $283834 | $276697 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** |
| **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Year Ended**  | **Year Ended**  |
| ***(Dollars in thousands)*** | **12/31/2025** | **9/30/2025** | **12/31/2024** | **12/31/2025** | **12/31/2024** |
| **INTEREST INCOME** |  |  |  |  |  |
| &nbsp;&nbsp;Loans receivable, including fees | $2815 | $2816 | $2814 | $11161 | $10128 |
| &nbsp;&nbsp;Investment securities | 511 | 345 | 273 | 1425 | 1063 |
| &nbsp;&nbsp;Cash and due from banks | 215 | 345 | 401 | 1254 | 2585 |
| &nbsp;&nbsp;Other | 7 | 7 | 23 | 56 | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 3548 | 3513 | 3511 | 13896 | 13862 |
| **INTEREST EXPENSE** |  |  |  |  |  |
| &nbsp;&nbsp;Deposits | 942 | 983 | 859 | 3791 | 3229 |
| &nbsp;&nbsp;Borrowings | 99 | 80 | 180 | 315 | 1088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 1041 | 1063 | 1039 | 4106 | 4317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 2507 | 2450 | 2472 | 9790 | 9545 |
| Provision for (reversal of) credit losses | 96 | (36) | - | 60 | 531 |
| Net interest income after provision for (reversal of) credit losses | 2411 | 2486 | 2472 | 9730 | 9014 |
| **NON-INTEREST INCOME (LOSS)** |  |  |  |  |  |
| &nbsp;&nbsp;Service charges on deposit accounts | 210 | 172 | 201 | 781 | 798 |
| &nbsp;&nbsp;Bank-owned life insurance | 134 | 123 | 119 | 494 | 463 |
| &nbsp;&nbsp;Loss on sales of investment securities | - | - | - | - | (5507) |
| &nbsp;&nbsp;Other income on foreclosed assets | - | - | - | 216 | - |
| &nbsp;&nbsp;Gain (loss) on sale of fixed assets | - | (1) | - | (1) | 6 |
| &nbsp;&nbsp;Federal community development grant | - | - | - | - | 280 |
| &nbsp;&nbsp;Other | 18 | 21 | 17 | 84 | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income (loss) | 362 | 315 | 337 | 1574 | (3840) |
| **NON-INTEREST EXPENSE** |  |  |  |  |  |
| &nbsp;&nbsp;Salaries and employee benefits | 1334 | 1312 | 1227 | 5153 | 4830 |
| &nbsp;&nbsp;Occupancy and equipment | 196 | 220 | 193 | 823 | 765 |
| &nbsp;&nbsp;Data processing and communication | 181 | 179 | 179 | 718 | 1349 |
| &nbsp;&nbsp;Professional fees | 98 | 91 | 94 | 404 | 469 |
| &nbsp;&nbsp;Directors' fees | 123 | 123 | 116 | 477 | 461 |
| &nbsp;&nbsp;ATM and debit card | 28 | 24 | 17 | 103 | 141 |
| &nbsp;&nbsp;Foreclosed assets, net | 17 | 7 | 7 | 131 | 74 |
| &nbsp;&nbsp;Advertising and marketing | 37 | 35 | 17 | 131 | 129 |
| &nbsp;&nbsp;Other | 208 | 211 | 188 | 860 | 939 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expense | 2222 | 2202 | 2038 | 8800 | 9157 |
| Income (loss) before income tax expense (benefit) | 551 | 599 | 771 | 2504 | (3983) |
| Income tax expense (benefit) | 95 | 110 | 145 | 452 | (894) |
| **NET INCOME (LOSS)** | $456 | $489 | $626 | $2052 | $(3089) |
| Earnings (loss) per share: |  |  |  |  |  |
| &nbsp;&nbsp;Basic | $0.13 | $0.13 | $0.16 | $0.56 | $(0.78) |
| &nbsp;&nbsp;Diluted | 0.13 | 0.13 | 0.16 | 0.56 | (0.78) |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** |
| **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Year Ended**  | **Year Ended**  |
| ***(Dollars in thousands)*** | **12/31/2025** | **9/30/2025** | **12/31/2024** | **12/31/2025** | **12/31/2024** |
| **EARNINGS DATA** |  |  |  |  |  |
| &nbsp;&nbsp;Total interest income | $3548 | $3513 | $3511 | $13896 | $13862 |
| &nbsp;&nbsp;Total interest expense | 1041 | 1063 | 1039 | 4106 | 4317 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 2507 | 2450 | 2472 | 9790 | 9545 |
| &nbsp;&nbsp;Provision for (reversal of) credit losses | 96 | (36) | - | 60 | 531 |
| &nbsp;&nbsp;Total non-interest income (loss) | 362 | 315 | 337 | 1574 | (3840) |
| &nbsp;&nbsp;Total non-interest expense | 2222 | 2202 | 2038 | 8800 | 9157 |
| &nbsp;&nbsp;Income tax expense (benefit) | 95 | 110 | 145 | 452 | (894) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | $456 | $489 | $626 | $2052 | $(3089) |
| **AVERAGE BALANCE SHEET DATA** |  |  |  |  |  |
| &nbsp;&nbsp;Total loans | $167335 | $167032 | $167187 | $167038 | $155867 |
| &nbsp;&nbsp;Total interest-earning assets | 255254 | 251004 | 251058 | 250546 | 261654 |
| &nbsp;&nbsp;Total assets | 277546 | 272987 | 272443 | 272415 | 281817 |
| &nbsp;&nbsp;Total interest-bearing deposits | 152387 | 150421 | 142149 | 150480 | 143250 |
| &nbsp;&nbsp;Total interest-bearing liabilities | 165271 | 161120 | 160812 | 161183 | 169643 |
| &nbsp;&nbsp;Total deposits | 181537 | 179825 | 170991 | 179486 | 172092 |
| &nbsp;&nbsp;Total shareholders' equity | 81739 | 81136 | 80988 | 80982 | 81480 |
| **SELECTED RATIOS** |  |  |  |  |  |
| &nbsp;&nbsp;Return on average assets | 0.65% | 0.71% | 0.91% | 0.75% | (1.10)% |
| &nbsp;&nbsp;Return on average equity | 2.22 | 2.39 | 3.08 | 2.53 | (3.79) |
| &nbsp;&nbsp;Efficiency ratio | 77.40 | 79.67 | 72.54 | 77.43 | 160.51 |
| &nbsp;&nbsp;Net interest margin<sup>(TE)</sup> | 3.91 | 3.88 | 3.92 | 3.92 | 3.65 |
| &nbsp;&nbsp;Average equity to average assets | 29.45 | 29.72 | 29.73 | 29.73 | 28.91 |
| &nbsp;&nbsp;Common equity Tier 1 capital ratio<sup>(1)</sup> | 42.45 | 43.95 | 45.81 |  |  |
| &nbsp;&nbsp;Tier 1 leverage capital ratio<sup>(1)</sup> | 27.36 | 27.58 | 28.73 |  |  |
| &nbsp;&nbsp;Total risk-based capital ratio<sup>(1)</sup> | 43.71 | 45.20 | 47.07 |  |  |
| **NON-FINANCIAL DATA** |  |  |  |  |  |
| &nbsp;&nbsp;Total employees (full-time equivalent) | 49 | 49 | 49 |  |  |
| &nbsp;&nbsp;Common shares issued and outstanding, end of period | 4074911 | 4129604 | 4278150 |  |  |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Capital ratios are preliminary end-of-period ratios for the Bank only and are subject to change.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** | **CATALYST BANCORP, INC. AND SUBSIDIARY** |
| **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** | **SELECTED FINANCIAL DATA** |
| **(continued)** | **(continued)** | **(continued)** | **(continued)** | **(continued)** | **(continued)** |
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Year Ended**  | **Year Ended**  |
| ***(Dollars in thousands)*** | **12/31/2025** | **9/30/2025** | **12/31/2024** | **12/31/2025** | **12/31/2024** |
| **ALLOWANCE FOR CREDIT LOSSES** |  |  |  |  |  |
| &nbsp;&nbsp;**Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | $2397 | $2431 | $2414 | $2522 | $2124 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for (reversal of) credit losses | 12 | (32) | 110 | (30) | 667 |
| &nbsp;&nbsp;&nbsp;&nbsp;Charge-offs | (60) | (37) | (28) | (213) | (392) |
| &nbsp;&nbsp;&nbsp;&nbsp;Recoveries | 18 | 35 | 26 | 88 | 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | (42) | (2) | (2) | (125) | (269) |
| &nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $2367 | $2397 | $2522 | $2367 | $2522 |
| &nbsp;&nbsp;**Unfunded commitments:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | $127 | $131 | $231 | 121 | 257 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for (reversal of) credit losses on unfunded commitments | 84 | (4) | (110) | 90 | (136) |
| &nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $211 | $127 | $121 | $211 | $121 |
| &nbsp;&nbsp;Total provision for (reversal of) credit losses | $96 | $(36) | $- | $60 | $531 |
| **CREDIT QUALITY**<sup>(1)</sup> |  |  |  |  |  |
| Non-accruing loans | $2248 | $1459 | $1567 |  |  |
| Accruing loans 90 days or more past due | 395 | 364 | 64 |  |  |
| &nbsp;&nbsp;Total non-performing loans | 2643 | 1823 | 1631 |  |  |
| Foreclosed assets | 34 | 76 | 194 |  |  |
| &nbsp;&nbsp;Total non-performing assets | $2677 | $1899 | $1825 |  |  |
| Total non-performing loans to total loans | 1.55% | 1.11% | 0.98% |  |  |
| Total non-performing assets to total assets | 0.95 | 0.67 | 0.66 |  |  |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Credit quality data and ratios are as of the end of each period presented.

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