secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2021-08-05T23:59:59+00:00
Accession:  0001104659-21-100614
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465921100614/0001104659-21-100614-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465921100614/tm2124133d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-100614

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer