secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0001104659-22-087125
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glen Burnie Bancorp Q2 net income drops to $309K ($0.11 EPS) from $480K ($0.17) YoY
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- Net income $309K vs $480K in Q2 2021; six-month net income $540K vs $1,074K.
- Net interest margin declined to 2.61% from 2.92% as loan yields fell and interest-earning asset mix shifted.
- Book value per share dropped to $7.44 from $12.43, driven by $14.9M after-tax unrealized losses on AFS securities.
- Loan portfolio fell 16.24% YoY to $200.7M; total assets $429.4M, down 0.77%.
- Bank remains well-capitalized; Tier 1 risk-based capital 15.13% vs 13.45% a year ago.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465922087125/0001104659-22-087125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465922087125/tm2222851d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-087125

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