Setting the Stage for Growth: Bank of Glen Burnie Names New Director of Commercial Banking and Vice President of Cash Management

Rhea-AI Summary

The Bank of Glen Burnie, a subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), has expanded its business banking team with two key appointments. Jonathan Shearin has been named director of commercial banking, and Ed Abedi has been appointed vice president of cash management. These additions aim to strengthen the bank's position as 'the bank for business' in Anne Arundel County and surrounding areas.

Shearin, previously a commercial relationship manager at Shore United Bank, brings experience in tailored banking solutions and portfolio management. Abedi, with over 20 years in commercial banking and treasury management, joins from HTLF. Both executives express enthusiasm for supporting local businesses and enhancing digital banking services.

President and CEO Mark C. Hanna emphasized that growing the bank's ability to serve local businesses is their primary goal, highlighting the bank's unique position as an independent, community-driven institution to support small businesses.

Positive

• Expansion of business banking team with experienced professionals
• Focus on strengthening position as 'the bank for business' in the local market
• Potential for enhanced digital banking services for businesses

Negative

• None.

News Market Reaction – GLBZ

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New commercial team members will bolster The Bank of Glen Burnie’s commitment to being “the bank for business” in Anne Arundel County and the surrounding market

GLEN BURNIE, Md., Oct. 22, 2024 (GLOBE NEWSWIRE) -- The Bank of Glen Burnie^®, a wholly owned subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), expanded its business banking team. Jonathan Shearin was named director of commercial banking and Ed Abedi was named vice president of cash management, announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie.

Hanna commented, “We are thrilled to welcome Jonathan and Ed to the team. Growing our ability to serve the businesses of Anne Arundel County is goal number one for the Bank. As an independent, community-driven bank, we’re uniquely positioned to support small businesses—the backbone of job creation. Jonathan will champion this message in his role, ensuring that local companies know we have the products, services and people to meet their needs. Ed will play a key role in enhancing our digital services to keep pace with continually evolving demands.”

Jonathan Shearin most recently served as a commercial relationship manager at Shore United Bank, where he worked with companies to provide banking solutions tailored to their operations and growth. Prior to this, he was a commercial relationship manager at Primis, overseeing and developing a portfolio of over $220 million. His banking career began with roles in treasury management and commercial lending at Eastern Virginia Bankshares, where he supported credit analysis and client management. He is a graduate of Randolph-Macon College in Ashland, Virginia, where he earned a Bachelor of Science in business with a concentration in finance.

Shearin shared, “I am pleased to join the Bank of Glen Burnie. With a 75-year legacy of commitment to community and service, the Bank has deep roots in supporting local businesses. My focus will be on carrying forward that tradition, helping businesses thrive as we strengthen those connections.”

Ed Abedi has over two decades of experience in commercial banking and treasury management. Most recently, he served as vice president of commercial banking at HTLF, a regional bank headquartered in Denver, Colorado. His previous roles include positions at First Horizon Bank, EagleBank, PNC, and Bank of America Merrill Lynch (now BofA Securities), where he specialized in treasury management and commercial banking solutions. Ed is a graduate of California’s San Francisco State University.

Abedi shared, “The right digital banking tools enable companies to operate more efficiently and strategically. My role is to ensure businesses fully leverage these technologies to their advantage, which will enhance their overall experience with the Bank of Glen Burnie. I’m excited to join this team and to serve our valued customers as we continue to innovate.”

About Glen Burnie Bancorp

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 eight Anne Arundel County branches. The Bank is engaged in commercial and retail banking, including accepting demand and time deposits and originating 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 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/634043fc-d456-4ff0-ab1a-e933cc748e3d

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2fe23ee6-9936-4985-ad76-c6f68b1003f0

FAQ

Who are the new executives joining The Bank of Glen Burnie (GLBZ)?

Jonathan Shearin has been named director of commercial banking, and Ed Abedi has been appointed vice president of cash management at The Bank of Glen Burnie.

What is the main goal of The Bank of Glen Burnie (GLBZ) with these new appointments?

The main goal is to grow the bank's ability to serve businesses in Anne Arundel County and strengthen its position as 'the bank for business' in the local market.

What experience does Jonathan Shearin bring to The Bank of Glen Burnie (GLBZ)?

Jonathan Shearin previously served as a commercial relationship manager at Shore United Bank and has experience in providing tailored banking solutions and managing a portfolio of over $220 million.

What is Ed Abedi's background before joining The Bank of Glen Burnie (GLBZ)?

Ed Abedi has over two decades of experience in commercial banking and treasury management, most recently serving as vice president of commercial banking at HTLF.