GLBZ Q3 net income down 6.4% to $888K ($0.31 EPS); nine-month net income up 74.7% to $1.96M ($0.69)

GLEN BURNIE BANCORP

2022-Q3 EPS reported $0.69

Net interest income rose $344K to $3.34M; net interest margin expanded to 3.22% from 3.05%.
Loans (net) fell $50.5M to $221.9M (-18.6%) while deposits increased $30.6M to $374.5M (+8.9%).
ACL-loans benefit was $122K in Q3 vs $669K a year earlier; year-to-date benefit $593K vs $263K.
Return on average assets 0.81% (down from 0.92%); return on average equity 9.56% (down from 10.18%).
Book value per share declined to $12.26 from $12.86; total assets $432.8M.

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