Cullman Bancorp, Inc. (CULL): History, Ownership, Mission, How It Works & Makes Money

Given its deep roots dating back to 1887, how does Cullman Bancorp, Inc. (CULL) continue to generate value in the competitive US savings bank sector? This Alabama-based holding company, with its focus on community-oriented banking, reported total assets of $445.687 million as of September 30, 2025, demonstrating its steady balance sheet growth in a challenging interest rate environment. The stock's year-to-date performance of 15.9% through early October 2025, coupled with a net income of $2.92 million for the first nine months of the year, suggests its core model of taking deposits and investing in real estate and commercial loans is defintely working. Let's break down the history, unique ownership, and the mechanics behind how this microcap bank makes money.

Cullman Bancorp, Inc. (CULL) History

The story of Cullman Bancorp, Inc. (CULL) is a long-term community banking narrative, but its current form as a publicly traded holding company is quite recent. The institution behind it, Cullman Savings Bank, has served Cullman, Alabama, for over a century, but the holding company structure you see on the NASDAQ today was a strategic move finalized in 2021 to simplify its structure and fuel growth.

Cullman Bancorp, Inc.'s Founding Timeline

Year established

The foundational entity, Cullman Building & Loan, was organized in 1887. Cullman Bancorp, Inc. (CULL), the current stock holding company, was formally incorporated in July 2021 as a Maryland corporation during the full mutual-to-stock conversion.

Original location

The original institution was founded in Cullman, Alabama, where its executive offices remain today. Cullman Building & Loan first operated out of the old Kullman Hall at the corner of 3rd Street and 5th Avenue Southeast.

Founding team members

The original institution was organized by 30 original settlers of Cullman. The first president and founder was G.O. Dinckelberg, who established the initial cooperative model.

Initial capital/funding

The original 30 charter members held 130 shares, representing an initial investment of $5,200 in 1887, which was pooled for home loans. The 2021 full conversion and stock offering for Cullman Bancorp, Inc. sold shares at $10.00 per share to the public, including depositors.

Cullman Bancorp, Inc.'s Evolution Milestones

To understand CULL, you have to look at the bank's long evolution. It moved from a simple building and loan society to a modern, fully public stock-holding company. Here's the quick math on how it got here.

Cullman Bancorp, Inc.'s Transformative Moments

The most transformative moment was the decision to fully convert to a stock-holding company in 2021. This wasn't just a name change; it was a fundamental shift in ownership and capital strategy.

The partial conversion in 2009, raising over $16 million, set the stage, but the final step in 2021 was the real game-changer. It allowed the bank to look more like its competitors in the Southeast, simplifying business and making it easier for investors to understand its structure-moving from a mutual, which few understood, to a fully converted stock-trading bank.

This conversion led directly to the company's current valuation. As of June 30, 2025, Cullman Bancorp, Inc.'s market capitalization stood at approximately $71.1 million, with the stock price at $10.50 per share.

• Full Stock Conversion: Completed in July 2021, moving from a mutual holding company to a full stock holding company, Cullman Bancorp, Inc.
• NASDAQ Listing: Allowed the bank to access broader capital markets, attracting investors from places like New York and Chicago.
• Capital Infusion: The stock offering enabled depositors and the community to share in the bank's long-term growth and success.

To be fair, this new structure comes with increased scrutiny, but it provides the capital base needed for future growth. You can get a deeper look at the numbers here: Breaking Down Cullman Bancorp, Inc. (CULL) Financial Health: Key Insights for Investors.

The strategic choice was defintely about positioning for the future, moving past the complexity of a mutual structure to a more conventional, publicly traded model to compete in a consolidating market. This is how a 138-year-old institution adapts.

Cullman Bancorp, Inc. (CULL) Ownership Structure

Cullman Bancorp, Inc. is a publicly traded financial holding company for Cullman Savings Bank, meaning its ownership is distributed among various stakeholders, including insiders, large institutions, and the general public. This structure, which follows its 2021 conversion to a fully public stock holding company, is heavily influenced by individual and retail investors, who collectively hold the largest stake, though institutional money still plays a significant role in its valuation and trading volume.

Cullman Bancorp, Inc.'s Current Status

The company operates as a public entity, with its common stock trading on the NASDAQ exchange under the ticker symbol CULL. While it is public, it operates as a smaller, community-focused savings institution in north-central Alabama, which means its liquidity and investor base are different from a large-cap bank. For instance, as of the third quarter of 2025, Cullman Bancorp, Inc. reported total assets of approximately $445.7 million, a clear picture of its size in the regional banking sector. You can dive deeper into the market's view of the company at Exploring Cullman Bancorp, Inc. (CULL) Investor Profile: Who's Buying and Why?

What this estimate hides is the relatively low institutional ownership for a NASDAQ-listed company, which can sometimes lead to higher stock volatility. Still, the company's total shareholders' equity stood at a solid $95.8 million as of September 30, 2025, providing a clear buffer. The focus is on traditional banking, with loans net of allowance at $357.2 million in Q3 2025, primarily in residential and commercial real estate.

Cullman Bancorp, Inc.'s Ownership Breakdown

The ownership structure is a critical factor in understanding who drives the company's strategy and governance. As of November 2025, the breakdown shows a significant portion of shares held by non-institutional investors, but insiders maintain a substantial, concentrated stake.

Cullman Bancorp, Inc.'s Leadership

The company is steered by a highly experienced, long-tenured management team, which is defintely a plus for stability in the community banking world. The average tenure for the management team is an impressive 20.3 years. This consistency means they know the local market and its risks intimately.

• John A. Riley, III: Chairman, President, and Chief Executive Officer. Mr. Riley's total compensation for the 2025 fiscal year was approximately $1,153,430.
• T'aira Ugarkovich: Executive Vice President and Chief Operating Officer (COO), with a 2025 compensation of around $682,340.
• Robin Parson: Executive Vice President and Director, whose 2025 compensation was approximately $466,930.
• Katrina Stephens: Senior Vice President, Principal Accounting Officer, and Chief Financial Officer (CFO).
• Robin O'Berry: Senior Vice President and Company Secretary.

Here's the quick math: the top three executives alone accounted for over $2.3 million in compensation. Given the bank's size, that compensation structure is something you need to monitor closely, as it represents a significant expense against net income.

Cullman Bancorp, Inc. (CULL) Mission and Values

Cullman Bancorp, Inc., through its subsidiary Cullman Savings Bank, operates on a core purpose rooted in local commitment and longevity, prioritizing the financial well-being of Cullman County, Alabama, over broad geographic expansion.

This community-first philosophy is the company's cultural DNA, driving its lending and deposit strategy, which, for the first six months of 2025, helped generate a net income of approximately $1.758 million. [cite: 7 in previous step]

Cullman Bancorp, Inc.'s Core Purpose

Unlike larger regional banks, Cullman Bancorp's operational focus is intensely local. The company's mission and values are less a formal corporate decree and more a statement of its 138-year history as a community-oriented savings bank, founded in 1887. [cite: 3, 11 in previous step]

The company's primary market area for all lending and deposits remains exclusively Cullman County, Alabama. [cite: 4, 15 in previous step]

Official Mission Statement (De Facto)

While a single, explicit 'Mission Statement' document is not publicly available, the company's operating principle is clear: to be the local, trusted financial partner for its community. This is reflected in their long-standing commitment to the region.

• Serve the community better through local knowledge and experience.
• Provide a variety of deposit and loan products to individuals and small businesses within Cullman County. [cite: 5 in previous step, 11 in previous step]
• Maintain close ties with and give back to the community that supports the bank.

This commitment is tangible: through the Cullman Savings Bank Foundation, the bank has given over $728,000 to various community projects, including the Miracle Field and The Good Samaritan Clinic, since its formation.

Vision Statement (De Facto)

The company's vision is defined by its endurance and continuous presence in its sole operating market, a powerful statement of stability for depositors and borrowers. This long-term view is what anchors their total assets, which stood at $432.178 million as of March 31, 2025. [cite: 2 in previous step]

• Sustain a continuous, multi-generational presence in Cullman County.
• Remain a local community bank, never forgetting who they work for.
• Enable the community to share in the Bank's long-term growth and success.

Here's the quick math: the bank's contribution to its Foundation was $60 thousand in the first half of 2025 alone, showing their commitment is an active, ongoing expense, not just a historical footnote. [cite: 7 in previous step]

Cullman Bancorp Slogan/Tagline

The company's most prominent, unofficial tagline summarizes its entire value proposition to the local community: a promise of unwavering local presence.

• We were there yesterday, we are here today and we will be there tomorrow.

To be fair, this deep local focus is also a risk, as the bank's ability to repay loans is dependent on the real estate and general economic conditions in Cullman County exclusively. [cite: 15 in previous step] You can find more details on this foundational structure at Mission Statement, Vision, & Core Values of Cullman Bancorp, Inc. (CULL).

Cullman Bancorp, Inc. (CULL) How It Works

Cullman Bancorp, Inc. is a federally-chartered holding company whose sole business is owning and operating Cullman Savings Bank, a community-oriented savings bank founded in 1887. The bank generates its revenue by taking in customer deposits and then investing those funds primarily into a diversified portfolio of loans, with a focus on its local market in Cullman County, Alabama.

This is a classic spread-based model: the bank earns a higher interest rate on its loans (interest income) than it pays out on its deposits (interest expense). For the first nine months of 2025, the company reported a net income of $2.919 million, showing this model is working, still, the efficiency ratio is a concern.

Cullman Bancorp, Inc.'s Product/Service Portfolio

The bank's offerings are centered on traditional banking services for individuals and small businesses within its four full-service locations in Cullman County. The primary value delivery is through its loan and deposit products.

Cullman Bancorp, Inc.'s Operational Framework

The bank's operations are straightforward: gather low-cost funding and deploy it into higher-yielding loans, all within a tight geographic radius. It's a community bank model, so the operational process is heavily relationship-driven, not purely transactional.

• Deposit Gathering: The bank relies on its local branch network to attract deposits from the general public. As of the first quarter of 2025, total deposits stood at $280.777 million, which serves as the primary capital for lending.
• Loan Origination and Portfolio Management: Funds are primarily invested in loans, with a significant portion in residential real estate. The bank's total assets were $432.178 million as of Q1 2025. The goal is to manage the interest rate spread (Net Interest Margin) while keeping credit risk low.
• Single Segment Reporting: Cullman Bancorp, Inc. manages its entire operation as a single reporting segment, meaning all decisions on performance and resource allocation are made on a consolidated basis, focusing on combined net interest income and noninterest income.
• Efficiency Challenge: A key operational metric, the efficiency ratio, has recently been noted as over 70%. This means more than 70 cents of every dollar of revenue goes toward noninterest expenses, a high level that limits the ability to improve returns on equity. That's a defintely a headwind.

Cullman Bancorp, Inc.'s Strategic Advantages

In a market filled with large, multi-state financial institutions, Cullman Bancorp, Inc.'s main advantage is its deep-rooted local focus, which translates into better underwriting and customer loyalty. You can learn more about who is investing in this model at Exploring Cullman Bancorp, Inc. (CULL) Investor Profile: Who's Buying and Why?

• Local Market Expertise: Operating exclusively in Cullman County, Alabama, allows for superior knowledge of the local real estate market, business climate, and borrower character, which should translate to better credit quality.
• Community Bank Relationship Model: As a community-oriented savings bank, it offers a level of personalized service that larger, regional banks often cannot match, fostering strong, long-term customer relationships.
• Stable Funding Base: The reliance on local deposits provides a relatively stable and lower-cost funding source compared to banks that rely heavily on volatile wholesale funding markets.

To be fair, this advantage is constantly challenged by competition from large money center and regional banks, plus local credit unions, all vying for the same customers. The bank must consistently convert its local knowledge into superior loan performance to justify its operational costs.

Cullman Bancorp, Inc. (CULL) How It Makes Money

Cullman Bancorp, Inc., through its subsidiary Cullman Savings Bank, primarily makes money the way most community banks do: by borrowing short and lending long. The core of its business is generating a net interest margin (NIM)-the difference between the interest it earns on loans and investments and the interest it pays on deposits and borrowings.

This is a classic spread business. They take in customer deposits, which are their primary source of funds, and then turn around and lend that money out as commercial real estate, residential mortgage, and business loans across northern Alabama. Noninterest income, like service charges, provides a secondary, but defintely important, revenue stream.

Cullman Bancorp, Inc.'s Revenue Breakdown

The vast majority of Cullman Bancorp, Inc.'s revenue engine is fueled by interest income from its loan portfolio, which is typical for a community bank. For the first quarter of 2025, the breakdown was heavily weighted toward this core function.

Here's the quick math for Q1 2025: Total Interest Income was $5.521 million, and Noninterest Income was $409,000. That put total revenue at $5.930 million. The interest income stream is growing, up from $5.080 million in Q1 2024, which tells you they are successfully deploying capital at higher rates or growing the loan book.

Business Economics

The economic fundamentals of Cullman Bancorp, Inc.'s model are rooted in local, relationship-driven banking, which allows for a more stable, though slower, growth profile than a national institution. Their pricing strategy is a delicate balance of attracting deposits with competitive interest rates while setting loan rates high enough to maintain a healthy net interest margin.

• Net Interest Margin (NIM) Management: The bank's profitability hinges on its ability to control the cost of its funding (interest-bearing deposits and Federal Home Loan Bank advances) relative to the yield on its interest-earning assets (loans). For a community bank, local knowledge is the key competitive advantage here.
• Loan Portfolio Mix: Lending solutions are diversified across commercial real estate, residential mortgages, and business financing. This mix is a strategic choice: commercial real estate and business loans often carry higher yields than residential mortgages, but they also introduce different credit risks.
• Noninterest Income Stability: The noninterest income, primarily service charges on deposit accounts, is a crucial source of stable, fee-based revenue. It provides a consistent buffer against fluctuations in interest rates, which directly impact the main revenue stream.

The bank's focus is on northern Alabama, so its economic health is tied directly to the local economy's stability.

Cullman Bancorp, Inc.'s Financial Performance

Looking at the 2025 results through September 30, it's clear the bank is managing to grow its bottom line despite a challenging rate environment. You can see a detailed breakdown of the bank's financial condition in Breaking Down Cullman Bancorp, Inc. (CULL) Financial Health: Key Insights for Investors.

• Profitability Growth: Net income for the nine months ended September 30, 2025, was $2.92 million, a solid increase from $2.48 million in the same period a year prior. This shows better expense management or stronger revenue growth outpacing the cost of funds.
• Asset Base: The bank's total assets stood at a robust $447.538 million as of June 30, 2025. This is the foundation from which they generate interest income.
• Deposit Strength: Total deposits were $289.293 million as of June 30, 2025. A strong, local deposit base is the cheapest source of funding for a bank, so this is a key metric for cost of capital.
• Loan Portfolio: Loans, net of allowance for loan losses, reached $364.459 million as of June 30, 2025, up from $355.699 million at the end of 2024. This growth confirms the increasing interest income trend.

The net income for the second quarter of 2025 was $895,000, up from $658,000 in the same quarter last year. That's a strong sign of operational improvement and effective capital deployment.

Cullman Bancorp, Inc. (CULL) Market Position & Future Outlook

Cullman Bancorp, Inc. operates as a highly localized community bank, holding a stable but competitive position in its core market, Cullman County, Alabama, with its future trajectory tied to improving internal efficiency and leveraging local growth. The company's focus remains on core lending, reporting a net income of $1.161 million for the third quarter of 2025, but it must address structural risks to truly maximize shareholder value.

Competitive Landscape

In the local banking scene, Cullman Bancorp, Inc. is a solid, long-standing player, but it faces stiff competition from larger regional banks that have a greater branch footprint and higher asset bases. You can see how the local deposit market stacks up against the two largest regional competitors in the area.

Opportunities & Challenges

Honestly, the bank has clear opportunities in its backyard, but it needs to clean up some internal issues first. The near-term focus should be on maximizing the efficiency of its $447.538 million in total assets. Here's the quick map of where the money can be made and where the landmines are.

Industry Position

Cullman Bancorp, Inc. is a classic microcap savings bank, primarily serving its local community with traditional deposit and mortgage products. While its stock has seen a strong year-to-date return of 21.42% as of November 2025, this performance is more about valuation adjustment than fundamental operational strength.

• Maintain a high-touch, community-first approach, which is its core competitive edge against larger, more impersonal regional banks.
• The bank's deposit market share of 12.9% is respectable for a fifth-place ranking in a market with 13 institutions, but its growth is constrained by a smaller branch network (4 locations).
• The key strategic challenge is improving profitability metrics like ROE without sacrificing its local relationship model.
• To be fair, the bank needs a defintely better story on capital allocation and insider dealings to win over skeptical investors.

For a deeper dive into the numbers, you should read Breaking Down Cullman Bancorp, Inc. (CULL) Financial Health: Key Insights for Investors.