Cullman Savings Bank

On October 1, 1887, the Bank was organized by thirty of the original settlers of Cullman, under the original name of “Cullman Building & Loan”. The first president and founder of the bank, G.O. Dinckelberg, had a plan – if each member deposited a small amount of money into a pool, the members could lend the money to each other until each member could construct their own homes. This arrangement would remain until members had the opportunity to build or acquire their home. The thirty charter members held a total of 130 shares representing an investment of $5,200. On December 3, 1887, the Bank made its first home loan to Peter Winkerbach in the amount of $200.

The Bank was first located in the old Cullman Hall at the corner of 3rd Street and 5th Avenue Southeast. At that time there were no regular office hours and the members assembled each Saturday night for the transaction of business. At the turn of the century, assets had reached $50,000 and the Bank held loans totaling $40,000.

In 1941, the Bank changed its name to “Cullman Savings & Loan” and began regular office hours in the Imbusch Building on the corner of First Avenue and Fourth Street East. Total assets at this time were $136,000. In 1957, the Bank moved to the old Fuller Building on the corner of Second Avenue and Fourth Street East. Assets at that time had increased to over $2,000,000 and there were 800 savings account holders and 367 borrowers. The Bank moved to its present location at 316 Second Avenue SW, in 1970. A branch office in Hanceville was opened in May of 1979. Cullman Savings & Loan converted to a federal savings bank charter and changed its name to “Cullman Savings Bank” on July 1, 1994. A second branch was opened at the intersection of Eva Road and Highway 157 in June of 2004.  A third branch was opened at the intersection of Second Avenue and Cherokee Avenue in August of 2013.

As of December 31, 2015, the Bank’s assets totaled over 242 million dollars. Cullman Savings Bank has made thousands of loans for the purchase, construction or refinancing of homes in Cullman County, and has paid depositors over 100 million dollars in interest and dividends.

In 2002, the Board of Directors voted to create a foundation for the purpose of giving back to our community in yet another way. The Cullman Savings Foundation continues to give back to various community projects including Cullman’s Miracle Field, The Good Samaritan Clinic, and many other projects which enrich the community and make it a better place to live.

Cullman Savings Bank has always been concerned with Cullman County exclusively. Nearly all of its customers are residents or former residents of Cullman County. The Cullman County border still serves as the bank’s designated lending area boundary line, just as it did in 1887. The directors and employees are proud of the bank’s history and how it is interwoven into the fabric of our community.