secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0001104659-23-021204
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glen Burnie Bancorp Q4 net income $830K ($0.29/sh); FY net income $1.75M, down 30% YoY
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- Q4 2022 net income $830K ($0.29/sh) vs $554K ($0.19/sh) in Q4 2021.
- Full year 2022 net income $1.75M ($0.61/sh) vs $2.52M ($0.88/sh) in 2021.
- Book value per share fell to $5.60 from $12.51 due to unrealized losses on AFS securities.
- Net interest margin Q4 2022: 3.27% (up from 2.95% Q4 2021); full year 2022: 2.81% (down from 3.00% in 2021).
- Total assets $381.4M at Dec 31, 2022, down 13.7% YoY; nonperforming assets 0.13% of total assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465923021204/0001104659-23-021204-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465923021204/tm236660d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-021204

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