secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2022-11-04T23:59:59+00:00
Accession:  0001104659-22-114817
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465922114817/0001104659-22-114817-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465922114817/tm2229759d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-114817

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