Catalyst Bancorp to acquire Lakeside Bancshares for $41.1M

Catalyst Bancorp (CLST), the parent company for Catalyst Bank, and Lakeside Bancshares, Inc., the parent company for Lakeside Bank, announced the signing of a definitive Agreement and Plan of Share Exchange and Merger under which Catalyst will acquire Lakeside in an all-cash transaction. The Merger Agreement also provides that Lakeside will be merged with and into Catalyst, with Catalyst surviving, and that Lakeside Bank will be merged with and into Catalyst Bank, with Catalyst Bank surviving. Once the transaction closes, Lakeside’s shareholders will receive $19.58 per share in cash, or $41.1 million in aggregate, subject to adjustment under certain circumstances.