Catalyst Bancorp Inc. filed SEC Form 8-K: Changes in Registrant’s Certifying Accountant …
Catalyst Bancorp Inc. recently made significant updates regarding changes in their certifying accountant, financial statements, and exhibits, with a focus on enhancing their financial reporting processes.
In a recent development, the Board of Directors of Catalyst Bancorp Inc. conducted a thorough review process to select the company’s independent registered public accounting firm for the fiscal year concluding on December 31, 2025. This process included evaluating proposals from multiple accounting firms, culminating in the selection of HORNE LLP as the independent registered public accounting firm for the upcoming fiscal year. Castaing, Hussey & Lolan, LLC will continue to serve as the company’s independent registered public accounting firm for the current fiscal year ending on December 31, 2024.
It is essential to highlight that Catalyst Bancorp Inc. and Castaing, Hussey & Lolan, LLC have had a positive working relationship, with CHL’s reports on the company’s financial statements for the past two fiscal years receiving no adverse opinions or disclaimers. Furthermore, there were no disagreements or reportable events between the company and CHL during the specified periods.
Before submitting the Form 8-K to the SEC, Catalyst Bancorp Inc. shared the details included in the filing with CHL and requested their confirmation of agreement with the stated information. CHL provided a letter on November 26, 2024, validating the accuracy of the disclosed statements.
Looking ahead, Catalyst Bancorp Inc. will continue to prioritize financial transparency and accuracy in their reporting processes. This recent change in certifying accountant underscores the company’s commitment to upholding the highest standards of financial accountability and integrity in their operations. Investors and stakeholders can rest assured that Catalyst Bancorp Inc. remains dedicated to maintaining trust and consistency in their financial practices.
