Glen Burnie Bancorp Q3 net income falls to $0.13 per share from $0.31 YoY; net interest margin down

GLEN BURNIE BANCORP

2022-Q3 EPS reported $0.32

Net income of $375,000 ($0.13/share) in Q3 2022 vs $888,000 ($0.31/share) in Q3 2021, a 58% decline.
Net interest margin narrowed to 2.83% from 3.22% as average loan balances fell $32.4M and yield decreased.
Book value per share dropped to $5.01 from $12.26 due to $21.7M after-tax unrealized losses on AFS securities.
Nonperforming assets remained low at 0.05% of total assets; bank maintained well-capitalized status.
Bancorp declared its 121st consecutive quarterly dividend payable Nov 7, 2022 (amount not specified).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GLEN BURNIE BANCORP reported the nine-month period ended September 30, 2022 results: net income $915,000, EPS $0.32 per basic and diluted common share.

Period: the nine-month period ended September 30, 2022
Net income: $915,000
EPS: $0.32 per basic and diluted common share
Result: reported results

Exact text from the filing

Bancorp reported net income of $915,000, or $0.32 per basic and diluted common share for the nine-month period ended September 30, 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GLEN BURNIE BANCORP reported the three-month period ended September 30, 2022 results: net income $375,000, EPS $0.13 per basic and diluted common share.

Period: the three-month period ended September 30, 2022
Net income: $375,000
EPS: $0.13 per basic and diluted common share
Result: reported results

Exact text from the filing

announced today net income of $375,000, or $0.13 per basic and diluted common share for the three-month period ended September 30, 2022

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Source: SEC EDGAR

accession 0001104659-22-114817

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