Glen Burnie Bancorp reports FY2021 net income $2.5M, up 51% YoY; Q4 EPS flat at $0.19

GLEN BURNIE BANCORP

2021-FY EPS reported $0.88

Q4 2021 net income $0.55M ($0.19 EPS), unchanged from Q4 2020.
Full year 2021 net income $2.52M ($0.88 EPS) vs $1.67M ($0.59 EPS) in 2020.
Net loans fell 17.6% YoY to $210.4M; $975k release of allowance for credit losses improved earnings.
Net interest margin compressed to 2.95% in Q4 2021 from 3.19% a year ago.
Book value per share $12.51, down from $13.05; bank remains well-capitalized with tier 1 ratio 15.32%.

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