Catalyst Bancorp has announced a definitive agreement to acquire Lakeside Bancshares, Inc. in an all-cash transaction valued at approximately $41.1 million. The deal will see Lakeside merged into Catalyst, with Catalyst Bank remaining the surviving banking entity.
Under the terms of the agreement, Lakeside shareholders will receive $19.58 per share in cash, subject to certain adjustments. The transaction has been unanimously approved by both companies’ boards of directors and is expected to close in the third quarter of 2026, pending regulatory and shareholder approvals.
The acquisition significantly expands Catalyst’s footprint in southwest Louisiana, where Lakeside operates four branches in Calcasieu Parish. Based on financial data as of December 31, 2025, the combined company will have approximately $627.3 million in assets, $399.9 million in loans, and $470.0 million in deposits.
Catalyst expects the deal to more than double its size and deliver strong financial benefits, including more than 180% accretion to earnings per share once cost savings are fully realized. The company also anticipates the transaction will be accretive to tangible book value per share within three years. Following the merger, Catalyst projects solid capital levels, with leverage and total risk-based capital ratios of approximately 10.4% and 15.4%, respectively, and does not expect to raise additional capital to complete the deal.
Lakeside, founded in 2010, has built a regional presence with $385.7 million in assets, $236.3 million in loans, and $287.5 million in deposits as of year-end 2025. The merger is intended to combine Lakeside’s community-focused banking approach with Catalyst’s scale and operational resources.
Advisors on the transaction include Brean Capital and Jones Walker for Catalyst, and Sheshunoff & Co Investment Banking and Fenimore Kay Harrison for Lakeside.
KEY QUOTES:
“Lakeside Bank has built a tremendous reputation across Southwest Louisiana. Bringing our organizations together allows us to build on that strong foundation. We look forward to working with the team at Lakeside to enhance our collective investment in growing the region’s economy.”
“This transaction more than doubles the size of our company, and significantly enhances our earnings and future growth potential. Our leadership team’s merger experience positions us to immediately play offense in adding customers in Southwest Louisiana.”
Joe Zanco, President And CEO, Catalyst Bank
“Our decision to join forces with Catalyst Bank comes from a place of strength and long-term vision. This partnership allows us to preserve the relationships and community focus that define our bank while gaining the scale, technology, and resources needed to serve our customers even better in the years ahead.”
Roy Raftery, President And CEO, Lakeside Bank
