secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2022-02-03T23:59:59+00:00
Accession:  0001104659-22-011140
Event type: earnings
Sentiment:  positive
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465922011140/0001104659-22-011140-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465922011140/tm225238d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-011140

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