secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2022-04-26T23:59:59+00:00
Accession:  0001104659-22-050104
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465922050104/0001104659-22-050104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465922050104/tm2213496d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-050104

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