Cullman Bancorp(US:CULL)2023-11-13 16:00Financial Position - Total assets decreased by $5.9 million, or 1.4%, to $417.3 million as of September 30, 2023, from $423.2 million at December 31, 2022[247] - Total deposits decreased by $18.7 million, or 6.4%, to $274.2 million as of September 30, 2023, from $292.9 million at December 31, 2022[248] Income and Expenses - Interest income increased by $808,000, or 19.0%, to $5.1 million for the three months ended September 30, 2023, compared to $4.2 million for the same period in 2022[254] - Net interest income increased by $329,000, or 2.9%, to $11.5 million for the nine months ended September 30, 2023, from $11.2 million for the same period in 2022[262] - Non-interest expense increased by $753,000, or 9.5%, to $8.7 million for the nine months ended September 30, 2023, compared to $7.9 million for the same period in 2022[263] - Interest expense increased by $2.2 million, or 303.8%, to $3.0 million for the nine months ended September 30, 2023, compared to $736,000 for the same period in 2022[260] - Non-interest income decreased by $12,000, or 3.0%, to $390,000 for the three months ended September 30, 2023, from $402,000 for the same period in 2022[258] Loan Activity - Average balance of loans increased by $20.2 million, or 6.3%, to $339.4 million for the three months ended September 30, 2023[255] Cash Flow and Tax - Cash flows from operating activities were $5.4 million for the nine months ended September 30, 2023, compared to $5.3 million for the same period in 2022[265] - The effective tax rate for the nine months ended September 30, 2023, was 22.9%, compared to 23.1% for the same period in 2022[264]