Catalyst Bancorp Q2 net interest margin rises

Overview

• US community bank's Q2 net income and diluted EPS declined slightly from prior quarter

• Company completed Lakeside Bancshares acquisition; Q2 included $87,000 in merger-related expenses

• Q2 net interest income and margin both rose slightly from previous quarter

Outlook

• Company did not provide specific guidance for future quarters or the full year

Result Drivers

• MERGER-RELATED EXPENSES - Q2 results included $87,000 in expenses tied to the Lakeside Bancshares acquisition, affecting net income

• REVERSAL OF CREDIT LOSSES - Co recorded a $104,000 reversal of provision for credit losses, mainly due to lower construction and land loan balances and fewer classified commercial real estate loans

• DEPOSIT GROWTH - Growth in high-yield savings accounts was the primary driver of deposit growth in Q2

Company press release: ID:nPn9kqkp4a

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)