Catalyst Bancorp, Inc. Form 8-K Summary
Business Context and Reporting Period
Catalyst Bancorp, Inc. (CLST), a Louisiana-based financial institution, filed this Current Report on Form 8-K on November 6, 2025, covering events occurring on October 31, 2025. The filing addresses a change in the Company's independent registered public accounting firm.
Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity metrics within this document.
Material Changes
- Accountant Resignation: HORNE LLP resigned as the Company's independent registered public accounting firm on October 31, 2025.
- Reason for Change: The resignation resulted from the partners and professional staff of HORNE LLP joining BDO USA, P.C. ("BDO").
- New Appointment: On November 5, 2025, the Company's Audit Committee appointed BDO as the new independent registered public accounting firm.
- Audit Status: HORNE had not issued any reports on the Company's financial statements prior to its resignation.
Management Commentary and Risks
Management confirmed that during the period from March 28, 2025, through October 31, 2025, there were no disagreements with HORNE regarding accounting principles, financial statement disclosures, or auditing scope. Additionally, HORNE did not advise the Company of any reportable events under Regulation S-K. The Company also stated that no consultations were held with BDO regarding accounting principles or disagreements during the two most recently completed fiscal years or through the date of engagement.
Key Facts for Investor Verification
- Verify the transition timeline between HORNE LLP and BDO USA, P.C. to ensure audit continuity.
- Confirm that no undisclosed disagreements existed between the Company and the former auditor.
- Monitor future filings for the first audit report issued by BDO.
- Note that this filing contains no financial results; refer to the most recent 10-K or 10-Q for financial data.