Glen Burnie Bancorp Q1 net income falls to $0.23M from $0.59M; EPS $0.08 vs $0.21

GLEN BURNIE BANCORP

2022-Q1 EPS reported $0.08

Net income $0.23M ($0.08 EPS) vs $0.59M ($0.21 EPS) in Q1 2021; net interest margin contracted to 2.54% from 2.93%.
Total assets $437.4M; stockholders' equity fell to $27.3M ($9.55/book value) from $35.7M ($12.51) due to unrealized losses on AFS securities.
Net recoveries of $11k on loans; allowance for credit losses at 1.17% of loans; nonperforming assets 0.05% of total assets.
119th consecutive quarterly dividend to be paid on May 9, 2022; amount not disclosed in release.

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