Catalyst Bancorp (CLST) Q1 2025 earnings summary

Executive summary

• Q1 net income was $586,000 versus a $4.689 million net loss in Q1 2024, which included a $5.507 million pre-tax securities-sale loss; income was $626,000 in Q4 2024.

• Net interest income rose 13.0% YoY to $2.365 million, while muted loan growth reflected customers delaying projects amid market turbulence.

Financial highlights

• Net interest income was $2.365 million, up 13.0% YoY but down 4% QoQ; total interest income fell 4% and interest expense declined 3% QoQ.

• Non-interest income was $553,000, including $216,000 in foreclosed-property insurance proceeds; non-interest expense was $2.198 million, down 21.2% YoY and up 8% QoQ.

• Income before taxes was $720,000; net income was $586,000 and diluted EPS was $0.16, versus a $4.689 million net loss in Q1 2024.

• Assets were $271.6 million at March 31, 2025, down 1.8% from year-end; cash and cash equivalents were $40.3 million, versus $44.3 million at year-end.

Outlook and guidance

• Available unused liquidity totaled $80.0 million: $45.6 million of FHLB capacity, $17.8 million on a correspondent-bank line and $16.5 million of unpledged securities.

• Sufficient funds are expected for current commitments; most maturing time deposits are expected to be retained, with continued use of secondary funding sources.

• If substantial maturing CD balances are not retained, secondary borrowings or higher deposit rates may be used, potentially increasing interest expense.