Glen Burnie Bancorp posts Q2 net income of $480K vs loss of $96K YoY

GLEN BURNIE BANCORP

2021-Q2 EPS reported $0.38

Net income $480K ($0.17 EPS) in Q2 2021 vs net loss $96K ($0.03) in Q2 2020.
Six-month net income $1,074K ($0.38) vs $174K ($0.06) in same period 2020.
Recorded $67K benefit from release of allowance for credit losses vs $487K provision in Q2 2020.
Total assets $432.8M; loans decreased $50.1M (17.6%) to $234.9M; deposits grew 7.9% to $368.9M.
Book value $12.43 per share; bank remains well-capitalized with tier 1 risk-based capital ratio of 13.45%.

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