AcquisitionsApr 8, 2026, 04:38 PM
Catalyst Bancorp to Acquire Lakeside Bancshares for $41.1 Million in Cash, Expanding Operations
AI Summary
Catalyst Bancorp, Inc. has entered into a definitive agreement to acquire Lakeside Bancshares, Inc. for an aggregate cash consideration of $41.1 million. The transaction, unanimously approved by both companies' Boards of Directors, will see Catalyst Bancorp acquire all outstanding shares of Lakeside Bancshares common stock at $19.58 per share. This strategic acquisition is structured as a share exchange followed by a merger, with Catalyst Bancorp and Catalyst Bank continuing as the surviving entities, signaling an expansion of Catalyst's banking operations.
Key Highlights
- Catalyst Bancorp, Inc. will acquire Lakeside Bancshares, Inc. for a total cash consideration of $41.1 million.
- Shareholders of Lakeside Bancshares will receive $19.58 in cash for each outstanding share of common stock.
- The transaction involves a share exchange of cash for Lakeside Bancshares common stock, immediately followed by the merger of Lakeside Bancshares into Catalyst Bancorp and Lakeside Bank into Catalyst Bank.
- The Boards of Directors of both Catalyst Bancorp and Lakeside Bancshares have unanimously approved the Merger Agreement.
- Catalyst Bancorp and its subsidiary, Catalyst Bank, will be the surviving entities of the mergers.