Cullman Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 09:21 am
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Cullman Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 3.73 million compared to USD 3.87 million a year ago. Net income was USD 1.03 million compared to USD 1.31 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 0.19 a year ago.
For the six months, net interest income was USD 7.62 million compared to USD 7.2 million a year ago. Net income was USD 2.04 million compared to USD 2.32 million a year ago. Basic earnings per share from continuing operations was USD 0.29 compared to USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to USD 0.33 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.