Welcome to our dedicated page for Glen Burnie Bancorp news (Ticker: GLBZ), a resource for investors and traders seeking the latest updates and insights on Glen Burnie Bancorp stock.
Glen Burnie Bancorp reports recurring developments for its role as the bank holding company for The Bank of Glen Burnie, a Maryland community bank serving Anne Arundel County. Company news centers on operating results, loan and deposit trends, net interest income, liquidity, expense management, and noninterest income from banking activities.
Recent updates also cover the Bank’s completed addition of VA Wholesale Mortgage, which expanded mortgage banking capabilities, as well as market-expansion initiatives for commercial lending and deposits. Governance and leadership changes, including board succession and finance leadership appointments, are recurring corporate-news themes for GLBZ.
On January 12, 2023, Glen Burnie Bancorp (NASDAQ: GLBZ) declared a regular dividend of ten cents ($0.10) per share, marking its 122nd consecutive dividend payment. This dividend is payable on February 6, 2023, to shareholders of record as of January 23, 2023. Glen Burnie Bancorp reported consolidated assets of $381.3 million as of December 31, 2022. The Bank of Glen Burnie, founded in 1949, operates as a community bank with eight branches in Anne Arundel County, Maryland.
Glen Burnie Bancorp (NASDAQ: GLBZ) reported a net income of $375,000 ($0.13 per share) for Q3 2022, down from $888,000 ($0.31 per share) in Q3 2021. For the first nine months, net income was $915,000 ($0.32 per share), compared to $1.96 million ($0.69 per share) in 2021. Total assets decreased to $415.6 million, with loan balances down 14.54% to $194.1 million. Despite rising interest rates, net interest income fell by $0.8 million for the first nine months. The bank's capital ratios remain strong, with a tier 1 ratio of 15.34%. A quarterly dividend will be paid on November 7, 2022.
Glen Burnie Bancorp (NASDAQ: GLBZ) announced a regular dividend of $0.10 per share, declared on October 13, 2022, marking the 121st consecutive dividend. This dividend is payable on November 7, 2022, to shareholders of record as of October 24, 2022. As of September 30, 2022, the company reported consolidated assets of $415.6 million. Established in 1949, Glen Burnie Bancorp serves the community through its bank and eight branch offices in Anne Arundel County, MD.
Glen Burnie Bancorp (NASDAQ: GLBZ) reported a net income of $309,000 ($0.11 per share) for the three months ending June 30, 2022, down from $480,000 ($0.17 per share) in the same period of 2021. For the six-month period, net income was $540,000 compared to $1,074,000 in 2021. The decline was primarily due to reduced net interest income, despite rising interest rates. Total assets stood at $429.4 million. The bank’s conservative credit underwriting and strong liquidity position are emphasized, although inflation and wage pressures may increase non-interest expenses.
Glen Burnie Bancorp (NASDAQ: GLBZ) announced a regular dividend of $0.10 per share during its Board of Directors meeting on July 14, 2022. This marks the company's 120th consecutive dividend. The dividend is payable on August 8, 2022, to shareholders of record by the close of business on July 25, 2022. As of June 30, 2022, the company reported consolidated assets of $429.4 million.
Glen Burnie Bancorp (NASDAQ: GLBZ) reported a net income of $0.23 million, or $0.08 per share, for Q1 2022, a decline from $0.59 million or $0.21 per share in Q1 2021. Total assets stood at $437.4 million, a decrease from $442.1 million at year-end 2021. The company experienced a 6.81% decline in net interest income to $2.7 million, impacted by a shift in asset mix. Despite challenges, including unrealized losses in the investment portfolio due to rising interest rates, the bank maintained robust capital ratios and plans to leverage excess liquidity for future growth.
On April 14, 2022, Glen Burnie Bancorp (NASDAQ: GLBZ) declared a regular dividend of $0.10 per share, marking the company's 119th consecutive dividend. This dividend is scheduled for payment on May 9, 2022, to shareholders on record by April 25, 2022. As of March 31, 2022, the bank reported consolidated assets of $437.4 million. Glen Burnie Bancorp operates The Bank of Glen Burnie, a community bank serving Anne Arundel County, Maryland.
Glen Burnie Bancorp (NASDAQ: GLBZ) reported a net income of $0.55 million for Q4 2021, unchanged from Q4 2020, while achieving an annual net income of $2.52 million, up 50.85% year-over-year. Total assets rose to $442.1 million, a 5.38% increase. Notably, net loans decreased by 17.59%, attributed to a competitive loan demand environment. The bank's credit quality improved, evidenced by a $975,000 release of allowance for credit losses. Despite a net interest margin decrease to 3.00%, strong liquidity and a proactive bond portfolio adjustment position the bank favorably for 2022.
Glen Burnie Bancorp (NASDAQ: GLBZ) declared a regular dividend of $0.10 per share during its Board meeting on January 13, 2022, marking its 118th consecutive dividend. The dividend is set to be paid on February 7, 2022, to shareholders recorded by January 24, 2022. As of December 31, 2021, the company reported consolidated assets of $442.0 million. Founded in 1949, Glen Burnie Bancorp operates The Bank of Glen Burnie, a community bank serving Anne Arundel County, MD.
Glen Burnie Bancorp (NASDAQ: GLBZ) reported a net income of $888,000 for Q3 2021, down from $949,000 in Q3 2020. Year-to-date net income reached $1,962,000, compared to $1,123,000 in 2020. As of September 30, 2021, total assets were $432.8 million, with a significant $593,000 benefit from the release of allowance for credit losses. Total loans decreased by 18.55% to $221.9 million, while deposits increased by 8.89%. The bank continues to focus on improving financial metrics amid a challenging market due to excess liquidity and low interest rates.