Catalyst Bancorp, Inc. Completes Acquisition of Lakeside Bancshares, Inc (Form 8-K)

Catalyst Bancorp, Inc. Completes Acquisition of Lakeside Bancshares, Inc.

Opelousas, Louisiana - Catalyst Bancorp, Inc. (Nasdaq: "CLST") ("Catalyst"), the parent company for Catalyst Bank (www.catalystbank.com), announced today the successful completion of the previously announced acquisition of Lakeside Bancshares, Inc. (OTC Markets: "LKSB") ("Lakeside") and its wholly-owned subsidiary, Lakeside Bank. An Agreement and Plan of Share Exchange and Merger relating to the acquisition was announced in April 2026.

The acquisition became effective as of July 14, 2026. Lakeside's shareholders will receive $19.58 per share in cash, or $41.1 million in aggregate.

"Today, thanks to the overwhelming support of Lakeside Bank shareholders, we bring together two organizations with remarkably similar values and a shared belief that community banking is defined by local relationships, sound decision making, and an unwavering commitment to growing the communities we serve," said Joe Zanco, President and Chief Executive Officer of Catalyst. "By combining our strengths, we are creating a much stronger institution with expanded capabilities while preserving the local connections and personal relationships that have defined both banks."

Based on data as of March 31, 2026, the acquisition increases Catalyst Bank's total assets to approximately $620 million with $390 million in loans and $478 million in deposits and expands its presence across Southwest Louisiana with four additional branch locations in Calcasieu Parish.

Catalyst plans to convert the branch and operating systems of the former Lakeside Bank to those of Catalyst Bank in November 2026. As of March 31, 2026, Lakeside Bank had assets of $375.7 million, $229.8 million in loans and $277.6 million in deposits.

Brean Capital, LLC acted as financial advisor to Catalyst and Jones Walker LLP acted as its legal advisor in the transaction. Sheshunoff & Co Investment Banking acted as financial advisor to Lakeside and Fenimore Kay Harrison LLP acted as its legal advisor in the transaction.

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 $288.5 million in assets at March 31, 2026. Catalyst Bank, formerly St. Landry Homestead Federal Savings Bank, has been in operation in the Acadiana region of south-central Louisiana since 1922. Catalyst Bank offers commercial and retail banking products with a focus on fueling business and improving lives in the communities we serve. 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.