Glen Burnie Bancorp Announces Second Quarter 2025 Results
Glen Burnie Bancorp (NASDAQ:GLBZ) reported a net loss of $212,000 or $(0.07) per diluted share for Q2 2025, compared to net income of $153,000 in Q1 2025. Despite disappointing earnings, the bank showed positive operational trends with loan growth of $6.0 million (11.5% annualized) and net interest margin expansion of 13 basis points to 3.13%.
The bank is executing strategic initiatives including a planned acquisition of VA Wholesale Mortgage (VAWM), which originates approximately $125 million in annual mortgages. Cost control measures reduced headcount from 89 to 73 employees, though this resulted in $280,000 of non-recurring expenses. Credit quality remains strong with minimal net charge-offs of 0.09% and non-performing loans ratio of 0.51%.
Total deposits remained stable at $317.3 million, with non-interest bearing deposits comprising 34% of total deposits. The bank maintains strong liquidity and capital positions, with regulatory capital ratios well above required minimums.
Glen Burnie Bancorp (NASDAQ:GLBZ) ha registrato una perdita netta di 212.000 dollari o $(0,07) per azione diluita nel secondo trimestre del 2025, rispetto a un utile netto di 153.000 dollari nel primo trimestre del 2025. Nonostante i risultati deludenti, la banca ha mostrato tendenze operative positive con una crescita dei prestiti di 6,0 milioni di dollari (11,5% su base annua) e un'espansione del margine di interesse netto di 13 punti base, raggiungendo il 3,13%.
La banca sta portando avanti iniziative strategiche, tra cui l'acquisizione pianificata di VA Wholesale Mortgage (VAWM), che origina circa 125 milioni di dollari in mutui annuali. Le misure di controllo dei costi hanno ridotto il personale da 89 a 73 dipendenti, generando però 280.000 dollari di spese non ricorrenti. La qualità del credito rimane solida, con perdite nette su crediti minime dello 0,09% e un rapporto di prestiti non performanti dello 0,51%.
I depositi totali sono rimasti stabili a 317,3 milioni di dollari, con depositi senza interessi che rappresentano il 34% del totale. La banca mantiene una solida liquidità e posizioni di capitale, con rapporti patrimoniali regolamentari ben al di sopra dei minimi richiesti.
Glen Burnie Bancorp (NASDAQ:GLBZ) reportó una pérdida neta de 212,000 dólares o $(0.07) por acción diluida en el segundo trimestre de 2025, en comparación con una ganancia neta de 153,000 dólares en el primer trimestre de 2025. A pesar de los resultados decepcionantes, el banco mostró tendencias operativas positivas con un crecimiento de préstamos de 6.0 millones de dólares (11.5% anualizado) y una expansión del margen neto de interés de 13 puntos básicos hasta 3.13%.
El banco está ejecutando iniciativas estratégicas, incluida la adquisición planificada de VA Wholesale Mortgage (VAWM), que origina aproximadamente 125 millones de dólares en hipotecas anuales. Las medidas de control de costos redujeron el personal de 89 a 73 empleados, aunque esto resultó en 280,000 dólares en gastos no recurrentes. La calidad crediticia se mantiene fuerte con pérdidas netas mínimas del 0.09% y una tasa de préstamos no productivos del 0.51%.
Los depósitos totales se mantuvieron estables en 317.3 millones de dólares, con depósitos sin intereses que representan el 34% del total. El banco mantiene una sólida liquidez y posiciones de capital, con ratios regulatorios de capital muy por encima de los mínimos requeridos.
글렌 버니 뱅코프 (NASDAQ:GLBZ)는 2025년 2분기에 21만 2천 달러의 순손실을 기록했으며, 희석 주당 손실은 $(0.07)였습니다. 이는 2025년 1분기의 15만 3천 달러 순이익과 비교됩니다. 실망스러운 실적에도 불구하고, 은행은 대출이 600만 달러 (연율 11.5%) 증가하고 순이자마진이 13bp 상승하여 3.13%를 기록하는 등 긍정적인 운영 추세를 보였습니다.
은행은 연간 약 1억 2천 5백만 달러의 모기지를 취급하는 VA Wholesale Mortgage (VAWM) 인수를 포함한 전략적 계획을 실행 중입니다. 비용 절감 조치로 직원 수는 89명에서 73명으로 줄었으나, 이로 인해 28만 달러의 일회성 비용이 발생했습니다. 신용 품질은 0.09%의 순대손충당금과 0.51%의 부실대출 비율로 견고합니다.
총 예금은 3억 1,730만 달러로 안정적이며, 무이자 예금이 전체 예금의 34%를 차지합니다. 은행은 규제 자본 비율이 요구 최소치를 훨씬 상회하며 강력한 유동성과 자본 상태를 유지하고 있습니다.
Glen Burnie Bancorp (NASDAQ:GLBZ) a enregistré une perte nette de 212 000 dollars ou $(0,07) par action diluée au deuxième trimestre 2025, contre un bénéfice net de 153 000 dollars au premier trimestre 2025. Malgré des résultats décevants, la banque a affiché des tendances opérationnelles positives avec une croissance des prêts de 6,0 millions de dollars (11,5 % annualisé) et une expansion de la marge nette d'intérêt de 13 points de base à 3,13 %.
La banque met en œuvre des initiatives stratégiques, notamment une acquisition prévue de VA Wholesale Mortgage (VAWM), qui génère environ 125 millions de dollars de prêts hypothécaires annuels. Les mesures de contrôle des coûts ont réduit les effectifs de 89 à 73 employés, ce qui a entraîné 280 000 dollars de charges non récurrentes. La qualité du crédit reste solide avec des pertes nettes minimales de 0,09 % et un ratio de prêts non performants de 0,51 %.
Les dépôts totaux sont restés stables à 317,3 millions de dollars, les dépôts sans intérêt représentant 34 % du total. La banque maintient une forte liquidité et des positions en capital solides, avec des ratios de capital réglementaires bien au-dessus des minimums requis.
Glen Burnie Bancorp (NASDAQ:GLBZ) meldete für das zweite Quartal 2025 einen Nettverlust von 212.000 US-Dollar bzw. $(0,07) je verwässerter Aktie, verglichen mit einem Nettogewinn von 153.000 US-Dollar im ersten Quartal 2025. Trotz enttäuschender Ergebnisse zeigte die Bank positive operative Trends mit einem Kreditwachstum von 6,0 Millionen US-Dollar (annualisiert 11,5 %) und einer Ausweitung der Nettozinsmarge um 13 Basispunkte auf 3,13 %.
Die Bank führt strategische Initiativen durch, darunter die geplante Übernahme von VA Wholesale Mortgage (VAWM), die jährlich etwa 125 Millionen US-Dollar an Hypotheken vergibt. Kostensenkungsmaßnahmen reduzierten die Mitarbeiterzahl von 89 auf 73, was jedoch zu 280.000 US-Dollar an einmaligen Aufwendungen führte. Die Kreditqualität bleibt mit minimalen Nettoausfällen von 0,09 % und einer Quote notleidender Kredite von 0,51 % stark.
Die Gesamteinlagen blieben stabil bei 317,3 Millionen US-Dollar, wobei nicht verzinste Einlagen 34 % der Gesamteinlagen ausmachen. Die Bank hält eine starke Liquiditäts- und Kapitalposition mit regulatorischen Kapitalquoten, die deutlich über den vorgeschriebenen Mindestanforderungen liegen.
- None.
- Net loss of $212,000 in Q2 2025 compared to net income of $153,000 in Q1 2025
- $280,000 in non-recurring expenses from early retirement and severance costs
- Increased cost of deposits to 1.78% from 1.63% quarter-over-quarter
- Net charge-offs increased to $45,000 (0.09%) from $4,000 (0.01%) in Q1 2025
Insights
Glen Burnie Bancorp reports Q2 net loss while showing loan growth and implementing strategic cost-cutting measures to improve future profitability.
Glen Burnie Bancorp's Q2 2025 results show a net loss of $212,000 ($0.07 per share), down from net income of $153,000 in Q1 2025. While disappointing, there are several positive developments underneath this headline figure. The bank is experiencing healthy loan growth of $6 million (11.5% annualized rate), primarily in commercial real estate and consumer loans, indicating demand for their lending products.
The bank's net interest margin expanded 13 basis points to 3.13%, showing improved profitability on their core lending operations. This improvement comes from earning asset yields increasing faster than funding costs, with loan yields up 24 basis points to 5.58% while total funding costs rose only 6 basis points to 1.36%.
The quarterly loss includes $287,000 in non-recurring expenses related to early retirement and employee severance as part of their cost-cutting initiatives. This strategic move has reduced headcount from 89 to 73 employees since the beginning of 2025, which should translate to lower operational costs in future quarters.
Credit quality metrics remain excellent with non-performing loans at just 0.51% of total loans, down 4 basis points from Q1. The allowance for loan losses stands at 1.21% of total loans, which management notes is higher than peers, providing a cushion against potential future credit issues.
Deposit stability is encouraging with total deposits at $317.3 million, essentially unchanged from Q1. Non-interest bearing deposits, which represent 34% of total deposits, grew by $2.5 million (9.7% annualized), though this was offset by declines in interest-bearing deposits.
The bank's liquidity position remains very strong with multiple funding sources available, including $31.4 million in FHLB borrowing capacity, $57.5 million in securities pledging capacity, and $33.9 million in Federal Reserve borrowing capacity.
Of particular strategic importance is the pending acquisition of VA Wholesale Mortgage, expected to close in August 2025. This acquisition should diversify revenue streams by enabling the bank to originate and sell mortgages and provide cross-selling opportunities to VAWM's clients who specialize in serving veterans and military personnel.
The bank's capital ratios remain well above regulatory requirements, with Tier 1 capital at 14.91% and total risk-based capital at 16.06%, though these have declined slightly from both the previous quarter and year-over-year.
Highlights for the Second Quarter of 2025:
- Net loss of
$212,000 or$(0.07) per diluted EPS during the second quarter of 2025, a decrease of$365,000 on a linked quarter basis, and net loss of$59,000 or$(0.02) per diluted EPS for the six-month period ending June 30, 2025. - Net interest margin on a tax equivalent basis of
3.13% with margin expansion of 13 basis points during the second quarter of 2025 compared to the first quarter of 2025. - Total loans increased by
$6.0 million during the second quarter of 2025, an annualized growth rate of11.5% . - Total deposits were
$317.3 million at June 30, 2025, up modestly from March 31, 2025. Liquidity continues to remain at a very strong level, and the Bank is well positioned for future growth. - Key credit quality metrics continue to be excellent with net charge-offs during the second quarter of 2025 of
$45,000 or0.09% annualized, as compared to the first quarter of 2025 of$4,000 , or0.01% annualized. - As noted in the Form 8-K filing, on March 5, 2025, the Bank entered into a stock purchase agreement with VA Wholesale Mortgage, Inc. (“VAWM”) which provides mortgage banking services in the communities it serves. We expect to close on that purchase in August 2025. VAWM currently originates approximately
$125 million a year in new mortgages across a wide array of loan products with specialized expertise in mortgage solutions for veterans and military personnel. This acquisition will provide access to new products and markets for the Bank, create the ability to originate and sell mortgages off our balance sheet, and provide cross-selling opportunities for the Bank’s products and services to VAWM’s existing and new clients. - In June, we launched a new credit card program, another one of our strategic initiatives focused on bringing products and services to new and existing customers that position the Bank as a community bank with a high service culture and large bank capabilities.
GLEN BURNIE, Md., July 29, 2025 (GLOBE NEWSWIRE) -- Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ), the bank holding company for The Bank of Glen Burnie (“Bank”), today reported a net loss for the second quarter of 2025 of
Year-to-date through June 30, 2025, net loss was
“We are disappointed with our net loss for the quarter. However, we are encouraged by the outcomes of a number of strategic initiatives we started over a year ago. Our strategic priorities continue to focus on increasing new revenue sources by growing our client relationships and becoming more operationally efficient. Achieving these objectives will expand our return on assets and capital,” said Mark C. Hanna, President and Chief Executive Officer. “To execute on these objectives, we need to balance the need to invest in the people, products and infrastructure to generate the necessary growth while simultaneously reducing overhead. During the quarter, we had over
Mr. Hanna added, “We were very pleased to see that our deposit base and cost of funding continues to remain competitive and stable while seeing good growth in our loan revenues. With strong liquidity and ample capital, we are very excited about our future and the benefits our strategic initiatives are beginning to produce.”
Loan Portfolio Quality/Allowance for Loan Losses
The Bank’s asset quality metrics continue to be very good because of our focus on disciplined lending practices. The non-performing loans ratio as of June 30, 2025, was
Mark C. Hanna, President and Chief Executive Officer noted, “We continue to see and experience very good credit results and indicators in our markets, while our non-performing assets remain at minimum levels. Our allowance for credit losses remained higher than our peers at
Balance Sheet
Total loans increased during the second quarter of 2025 by
Total deposits were
Cost of deposits increased on a linked quarter basis to
Mark C. Hanna, President and Chief Executive Officer, commented, “We are glad to see some stabilization in our deposit base as those deposits are a strength of our Bank and a big contributor to our strong liquidity. As of June 30, 2025, we still have many sources for additional liquidity in the form of
The investment securities available for sale was
Each of the regulatory capital ratios for the Bank exceeds the well capitalized minimum levels currently required by regulatory statute. At June 30, 2025, the Bank’s regulatory capital ratios (Leverage, Tier I Risk Based and Total Risk Based) were
Revenue
Net Interest Income/Net Interest Margin
Net interest income was
Mark C. Hanna, President and CEO commented, “We are beginning to see our mix of earning assets move from cash and securities to loans. A year ago, in the second quarter of 2024 our loans were
Non-Interest Income
Non-interest income in the second quarter of 2025 was
Non-Interest Expense
Noninterest expense totaled
Glen Burnie Bancorp Information
Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with six branch offices serving Anne Arundel County. The Bank is engaged in the commercial and retail banking business including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at www.thebankofglenburnie.com.
Forward-Looking Statements
The statements contained herein that are not historical financial information may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the Company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. For a more complete discussion of these and other risk factors, please see the Company’s reports filed with the Securities and Exchange Commission.
| GLEN BURNIE BANCORP AND SUBSIDIARY | |||||||||||||||
| CONSOLIDATED BALANCE SHEETS | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| June 30, | March 31, | December 31, | June 30, | ||||||||||||
| 2025 | 2025 | 2024 | 2024 | ||||||||||||
| (unaudited) | (unaudited) | (audited) | (audited) | ||||||||||||
| ASSETS | |||||||||||||||
| Cash and due from banks | $ | 1,677 | $ | 1,792 | $ | 2,012 | $ | 1,804 | |||||||
| Interest-bearing deposits in other financial institutions | 10,991 | 21,884 | 22,452 | 14,982 | |||||||||||
| Total Cash and Cash Equivalents | 12,668 | 23,676 | 24,464 | 16,786 | |||||||||||
| Investment securities available for sale, at fair value | 104,566 | 106,623 | 107,949 | 117,180 | |||||||||||
| Restricted equity securities, at cost | 869 | 1,201 | 1,671 | 246 | |||||||||||
| Loans | 213,362 | 207,393 | 205,219 | 201,500 | |||||||||||
| Less: Allowance for credit losses | (2,587 | ) | (2,689 | ) | (2,839 | ) | (2,625 | ) | |||||||
| Loans, net | 210,775 | 204,704 | 202,380 | 198,875 | |||||||||||
| Premises and equipment, net | 2,575 | 2,609 | 2,678 | 2,833 | |||||||||||
| Bank owned life insurance | 8,921 | 8,877 | 8,834 | 8,744 | |||||||||||
| Deferred tax assets, net | 8,102 | 8,088 | 8,548 | 8,329 | |||||||||||
| Accrued interest receivable | 1,206 | 1,243 | 1,345 | 1,358 | |||||||||||
| Accrued taxes receivable | 271 | 159 | 148 | 552 | |||||||||||
| Prepaid expenses | 386 | 474 | 471 | 355 | |||||||||||
| Other assets | 382 | 319 | 468 | 458 | |||||||||||
| Total Assets | $ | 350,721 | $ | 357,973 | $ | 358,956 | $ | 355,716 | |||||||
| LIABILITIES | |||||||||||||||
| Noninterest-bearing deposits | $ | 107,027 | $ | 104,487 | $ | 100,747 | $ | 109,631 | |||||||
| Interest-bearing deposits | 210,289 | 212,770 | 208,442 | 196,235 | |||||||||||
| Total Deposits | 317,316 | 317,257 | 309,189 | 305,866 | |||||||||||
| Short-term borrowings | 13,000 | 20,000 | 30,000 | 30,000 | |||||||||||
| Defined pension liability | 340 | 338 | 330 | 328 | |||||||||||
| Accrued expenses and other liabilities | 1,132 | 1,197 | 1,620 | 2,051 | |||||||||||
| Total Liabilities | 331,788 | 338,792 | 341,139 | 338,245 | |||||||||||
| STOCKHOLDERS' EQUITY | |||||||||||||||
| Common stock, par value | 2,901 | 2,901 | 2,901 | 2,894 | |||||||||||
| Additional paid-in capital | 11,037 | 11,037 | 11,037 | 11,014 | |||||||||||
| Retained earnings | 22,823 | 23,035 | 22,882 | 23,081 | |||||||||||
| Accumulated other comprehensive loss | (17,828 | ) | (17,792 | ) | (19,003 | ) | (19,518 | ) | |||||||
| Total Stockholders' Equity | 18,933 | 19,181 | 17,817 | 17,471 | |||||||||||
| Total Liabilities and Stockholders' Equity | $ | 350,721 | $ | 357,973 | $ | 358,956 | $ | 355,716 | |||||||
| GLEN BURNIE BANCORP AND SUBSIDIARY | ||||||||||||||||
| CONSOLIDATED STATEMENTS OF (LOSS) INCOME | ||||||||||||||||
| (dollars in thousands, except per share amounts) | ||||||||||||||||
| (unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Interest income | ||||||||||||||||
| Interest and fees on loans | $ | 2,909 | $ | 2,525 | $ | 5,618 | $ | 4,740 | ||||||||
| Interest and dividends on securities | 732 | 854 | 1,477 | 1,791 | ||||||||||||
| Interest on deposits with banks and federal funds sold | 236 | 514 | 411 | 767 | ||||||||||||
| Total Interest Income | 3,877 | 3,893 | 7,506 | 7,298 | ||||||||||||
| Interest expense | ||||||||||||||||
| Interest on deposits | 942 | 584 | 1,783 | 986 | ||||||||||||
| Interest on short-term borrowings | 199 | 523 | 424 | 955 | ||||||||||||
| Total Interest Expense | 1,141 | 1,107 | 2,207 | 1,941 | ||||||||||||
| Net Interest Income | 2,736 | 2,786 | 5,299 | 5,357 | ||||||||||||
| (Release) provision of credit loss allowance | 79 | 600 | (541 | ) | 792 | |||||||||||
| Net interest income after credit loss (release) provision | 2,657 | 2,186 | 5,840 | 4,565 | ||||||||||||
| Noninterest income | ||||||||||||||||
| Service charges on deposit accounts | 34 | 35 | 65 | 73 | ||||||||||||
| Other fees and commissions | 142 | 162 | 273 | 311 | ||||||||||||
| Income on life insurance | 44 | 44 | 87 | 87 | ||||||||||||
| Total Noninterest Income | 220 | 241 | 425 | 471 | ||||||||||||
| Noninterest expenses | ||||||||||||||||
| Salary and employee benefits | 2,026 | 1,601 | 3,853 | 3,219 | ||||||||||||
| Occupancy and equipment expenses | 256 | 338 | 565 | 669 | ||||||||||||
| Legal, accounting and other professional fees | 278 | 248 | 662 | 502 | ||||||||||||
| Data processing and item processing services | 224 | 243 | 480 | 492 | ||||||||||||
| FDIC insurance costs | 44 | 40 | 85 | 78 | ||||||||||||
| Advertising and marketing related expenses | 30 | 25 | 66 | 48 | ||||||||||||
| Loan collection costs | 7 | - | 52 | 6 | ||||||||||||
| Telephone costs | 25 | 29 | 63 | 69 | ||||||||||||
| Other expenses | 362 | 296 | 690 | 575 | ||||||||||||
| Total Noninterest Expenses | 3,252 | 2,820 | 6,516 | 5,658 | ||||||||||||
| (Loss) income before income taxes | (375 | ) | (393 | ) | (252 | ) | (622 | ) | ||||||||
| Income tax benefit | (163 | ) | (189 | ) | (192 | ) | (420 | ) | ||||||||
| Net (loss) income | $ | (212 | ) | $ | (204 | ) | $ | (59 | ) | $ | (201 | ) | ||||
| Basic and diluted net (loss) income per common share | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.02 | ) | $ | (0.07 | ) | ||||
| GLEN BURNIE BANCORP AND SUBSIDIARY | |||||||||||||||||||
| CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY | |||||||||||||||||||
| For the six months ended June 30, 2025 and 2024 | |||||||||||||||||||
| (dollars in thousands) | |||||||||||||||||||
| Accumulated | |||||||||||||||||||
| Additional | Other | Total | |||||||||||||||||
| Common | Paid-in | Retained | Comprehensive | Stockholders' | |||||||||||||||
| (unaudited) | Stock | Capital | Earnings | Loss | Equity | ||||||||||||||
| Balance, December 31, 2023 | $ | 2,883 | $ | 10,964 | $ | 23,859 | $ | (18,381 | ) | $ | 19,325 | ||||||||
| Net income | - | - | (201 | ) | - | (201 | ) | ||||||||||||
| Cash dividends, | - | - | (577 | ) | - | (577 | ) | ||||||||||||
| Dividends reinvested under | |||||||||||||||||||
| dividend reinvestment plan | 11 | 50 | - | - | 61 | ||||||||||||||
| Other comprehensive loss | - | - | - | (1,137 | ) | (1,137 | ) | ||||||||||||
| Balance, June 30, 2024 | $ | 2,894 | $ | 11,014 | $ | 23,081 | $ | (19,518 | ) | $ | 17,471 | ||||||||
| Accumulated | |||||||||||||||||||
| Additional | Other | Total | |||||||||||||||||
| Common | Paid-in | Retained | Comprehensive | Stockholders' | |||||||||||||||
| (unaudited) | Stock | Capital | Earnings | (Loss) Income | Equity | ||||||||||||||
| Balance, December 31, 2024 | $ | 2,901 | $ | 11,037 | $ | 22,882 | $ | (19,003 | ) | $ | 17,817 | ||||||||
| Net income | - | - | (59 | ) | - | (59 | ) | ||||||||||||
| Other comprehensive income | - | - | - | 1,175 | 1,175 | ||||||||||||||
| Balance, June 30, 2025 | $ | 2,901 | $ | 11,037 | $ | 22,823 | $ | (17,828 | ) | $ | 18,933 | ||||||||
| GLEN BURNIE BANCORP AND SUBSIDIARY | ||||||||||||||||
| SELECTED FINANCIAL DATA | ||||||||||||||||
| (dollars in thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| June 30 | March 31, | June 30 | December 31, | |||||||||||||
| 2025 | 2025 | 2024 | 2024 | |||||||||||||
| (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||
| Financial Data | ||||||||||||||||
| Assets | $ | 350,721 | $ | 357,973 | $ | 355,716 | $ | 358,956 | ||||||||
| Investment securities | 104,566 | 106,623 | 117,180 | 107,949 | ||||||||||||
| Loans | 213,362 | 207,393 | 201,500 | 205,219 | ||||||||||||
| Allowance for loan losses | 2,587 | 2,689 | 2,625 | 2,839 | ||||||||||||
| Deposits | 317,316 | 317,257 | 305,866 | 309,189 | ||||||||||||
| Borrowings | 13,000 | 20,000 | 30,000 | 30,000 | ||||||||||||
| Stockholders' equity | 18,933 | 19,181 | 17,471 | 17,817 | ||||||||||||
| Net income (loss) | (212 | ) | 153 | (204 | ) | (112 | ) | |||||||||
| Average Balances | ||||||||||||||||
| Assets | $ | 356,587 | $ | 353,308 | $ | 366,071 | $ | 363,994 | ||||||||
| Investment securities | 130,343 | 132,805 | 148,690 | 148,037 | ||||||||||||
| Loans | 208,951 | 205,868 | 186,650 | 192,646 | ||||||||||||
| Deposits | 317,647 | 312,030 | 307,427 | 309,838 | ||||||||||||
| Borrowings | 17,824 | 20,215 | 38,891 | 32,721 | ||||||||||||
| Stockholders' equity | 19,780 | 19,258 | 17,369 | 19,169 | ||||||||||||
| Performance Ratios | ||||||||||||||||
| Annualized return on average assets | -0.24 | % | 0.18 | % | -0.22 | % | -0.03 | % | ||||||||
| Annualized return on average equity | -4.30 | % | 3.22 | % | -4.72 | % | -0.58 | % | ||||||||
| Net interest margin - FTE | 3.13 | % | 3.00 | % | 3.10 | % | 3.06 | % | ||||||||
| Dividend payout ratio | 0 | % | 0 | % | N/M | N/M | ||||||||||
| Book value per share | $ | 6.53 | $ | 6.61 | $ | 6.04 | $ | 6.14 | ||||||||
| Basic and diluted net income (loss) per share | (0.07 | ) | 0.05 | (0.07 | ) | (0.04 | ) | |||||||||
| Cash dividends declared per share | 0.00 | 0.00 | 0.10 | 0.30 | ||||||||||||
| Basic and diluted weighted average shares outstanding | 2,900,681 | 2,900,681 | 2,891,203 | 2,893,871 | ||||||||||||
| Asset Quality Ratios | ||||||||||||||||
| Allowance for loan losses to loans | 1.21 | % | 1.30 | % | 1.30 | % | 1.38 | % | ||||||||
| Nonperforming loans to avg. loans | 0.51 | % | 0.55 | % | 0.17 | % | 0.19 | % | ||||||||
| Allowance for loan losses to nonaccrual & 90+ past due loans | 242.8 | % | 236.9 | % | 827.1 | % | 789.1 | % | ||||||||
| Net charge-offs (recoveries) annualize to avg. loans | 0.09 | % | 0.01 | % | -0.14 | % | 0.08 | % | ||||||||
| Capital Ratios | ||||||||||||||||
| Common Equity Tier 1 Capital | 14.91 | % | 15.42 | % | 15.59 | % | 15.15 | % | ||||||||
| Tier 1 Risk-based Capital Ratio | 14.91 | % | 15.42 | % | 15.59 | % | 15.15 | % | ||||||||
| Leverage Ratio | 9.59 | % | 9.71 | % | 10.10 | % | 9.97 | % | ||||||||
| Total Risk-Based Capital Ratio | 16.06 | % | 16.60 | % | 16.84 | % | 16.40 | % | ||||||||
| Common Equity Tier 1 Capital | $ | 36,449 | $ | 36,639 | $ | 36,896 | $ | 36,481 | ||||||||
| Tier 1 Regulatory Capital | 36,449 | 36,639 | 36,896 | 36,481 | ||||||||||||
| Total Regulatory Capital | 39,281 | 39,438 | 39,857 | 39,496 | ||||||||||||
For further information contact: Mark C. Hanna, President and Chief Executive Officer 410-768-8877 mchanna@bogb.net 106 Padfield Blvd Glen Burnie, MD 21061
FAQ
What caused Glen Burnie Bancorp (GLBZ) to report a loss in Q2 2025?
How much loan growth did GLBZ achieve in Q2 2025?
What is the status of GLBZ's acquisition of VA Wholesale Mortgage?
How strong is GLBZ's deposit base and liquidity position?
What are GLBZ's key credit quality metrics for Q2 2025?
