Catalyst Bank reports slight drop in net income in third quarter

Catalyst Bank Facebook Twitter WhatsApp SMS Email Print Copy article link Save Catalyst Bancorp, the parent company for Opelousas-based Catalyst Bank, reported a net income of $447,000 in the third quarter, down $80,000 from what it reported in the second quarter, officials announced. Net income for the third quarter of 2024 included a net pre-tax benefit of $238,000 from a Bank Enterprise Award Program grant from the Community Development Financial Institution Fund. For the quarter loans totaled $165.

9 million, which was up 8% from the second quarter, with the strongest gain coming from construction and land loans, data shows. Total deposits were $167.4 million as of Sept.

30, down 7% from the previous quarter. "Our loan portfolio grew a record $12.6 million during the quarter," president and CEO Joe Zanco said.

"This marks our second consecutive quarter of outstanding loan growth.".