Cullman Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 09:17 am EST
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Cullman Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was USD 3.96 million compared to USD 2.89 million a year ago. Net income was USD 0.926 million compared to net loss of USD 0.501 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to basic loss per share from continuing operations of USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to diluted loss per share from continuing operations of USD 0.06 a year ago.
For the nine months, net interest income was USD 11.17 million compared to USD 8.62 million a year ago. Net income was USD 3.25 million compared to USD 1.13 million a year ago. Basic earnings per share from continuing operations was USD 0.46 compared to USD 0.18 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 0.18 a year ago.
Cullman Bancorp, Inc. is a holding company for Cullman Savings Bank. Cullman Savings Bank is a federally chartered stock savings bank headquartered in Cullman, Alabama. The Companyâs business consists primarily of taking deposits from the public and investing those deposits, together with funds generated from operations, in one- to four-family residential real estate loans, commercial real estate loans and commercial and industrial loans and, to a lesser extent, construction loans, multi-family real estate loans and consumer loans. It also invests in limited amounts of securities. It offers a range of deposit accounts, including checking accounts, savings accounts, individual retirement accounts and certificate of deposit accounts. Its primary lending products are residential mortgage, commercial, and installment loans. Its commercial real estate loans are secured primarily by office buildings, retail and mixed-use properties and restaurants located in its primary market area.