Catalyst Bancorp, Inc. (Nasdaq: "CLST") ("Catalyst"), the parent company for Catalyst Bank (www.catalystbank.com), and Lakeside Bancshares, Inc. (OTC Markets: "LKSB") ("Lakeside"), the parent company for Lakeside Bank, announced today the signing of a definitive Agreement and Plan of Share Exchange and Merger (the "Merger Agreement") 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 (other than dissenting shares) will receive $19.58 per share in cash, or $41.1 million in aggregate, subject to adjustment under certain circumstances.

 

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