India, April 9 -- Catalyst Bancorp Inc (CLST) announced that it has signed a definitive agreement to acquire Lakeside Bancshares Inc (LKSB) in an all-cash transaction, strengthening its presence in southwest Louisiana.
Under the deal, Lakeside will merge into Catalyst, with Catalyst bank as the surviving bank. Lakeside shareholders will receive $19.58 per share in cash, totaling approximately $41.1 million, subject to certain adjustments.
The transaction is expected to enhance earnings potential, while expanding its customer base and market reach.
The combined entity, based on December 31, 2025, data, will have assets of about $627.3 million, including $399.9 million in loans and $470.0 million in deposits.
Both companies' boards have u...