Catalyst Bancorp Changes Certifying Accountant

TL;DR

Catalyst Bancorp switched accountants, filing an 8-K on 11/26/24.

AI Summary

Catalyst Bancorp, Inc. filed an 8-K on November 26, 2024, reporting a change in its certifying accountant as of November 20, 2024. The filing does not disclose the name of the previous or new accountant, nor the reasons for the change.

Why It Matters

A change in a company's auditor can signal potential issues or a strategic shift, warranting investor attention.

Risk Assessment

Risk Level: low — The filing is a standard procedural disclosure regarding a change in auditor, with no immediate financial implications disclosed.

Key Players & Entities

• Catalyst Bancorp, Inc. (company) — Registrant
• November 20, 2024 (date) — Date of earliest event reported
• November 26, 2024 (date) — Filing date
• 235 N. Court Street, Opelousas, Louisiana 70570 (address) — Principal executive offices

FAQ

Filing Documents

• clst-20241120x8k.htm (8-K) — 48KB
• clst-20241120xex16d1.htm (EX-16.1) — 4KB
• 0001849867-24-000031.txt ( ) — 172KB
• clst-20241120.xsd (EX-101.SCH) — 3KB
• clst-20241120_lab.xml (EX-101.LAB) — 16KB
• clst-20241120_pre.xml (EX-101.PRE) — 10KB
• clst-20241120x8k_htm.xml (XML) — 5KB

01 Changes in Registrant's Certifying Accountant

ITEM 4.01 Changes in Registrant's Certifying Accountant The Board of Directors of Catalyst Bancorp, Inc. (the "Company"), through its Audit Committee (the "Audit Committee") conducted a competitive process to determine the Company's independent registered public accounting firm commencing with the Company's fiscal year ending December 31, 2025. The Audit Committee invited several independent registered public accounting firms to participate in this process. Following review of proposals from the independent registered public accounting firms that participated in the process, on November 20, 2024, upon recommendation from the Audit Committee, the Board of Directors of the Company approved the engagement of HORNE LLP ("HORNE") as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2025, subject to the completion of HORNE's standard client acceptance procedures and execution of an engagement letter. Castaing, Hussey & Lolan, LLC ("CHL"), the Company's current independent registered public accounting firm, will continue as the Company's independent registered public accounting firm for the year ending December 31, 2024. CHL's reports on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2023 and 2022 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through November 20, 2024, there were: (i) no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions between the Company and CHL on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to CHL's satisfaction, would have caused CHL to make reference thereto in their reports; and (ii) no "reportab

01 Financial Statements and Exhibits

ITEM 9.01 Financial Statements and Exhibits (d) Exhibits The following exhibits are included herein: Exhibit Number Description 16.1 Letter from Castaing, Hussey & Lolan, LLC 104 Cover Page Interactive Data File. Embedded within the Inline XBRL document. 3 Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CATALYST BANCORP, INC. Date: November 26, 2024 By: /s/ Joseph B. Zanco Joseph B. Zanco President and Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR