Glen Burnie Bancorp Q2 net income falls 11% to $276K; NIM expands to 3.44%

GLEN BURNIE BANCORP

2023-Q2 EPS reported $0.25

Q2 2023 EPS $0.10 vs $0.11 a year ago; six-month EPS $0.25 vs $0.19.
Total assets $363.6M, down 18.10% YoY; loans decreased 10.94% to $180.6M.
Net interest margin improved to 3.44% from 2.61%, helped by rising rates.
Provision for credit losses on loans was $127K, vs a $116K release in Q2 2022.
Book value fell to $6.01/share from $7.44 on unrealized losses in AFS securities.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLEN BURNIE BANCORP reported three-month period ended June 30, 2023 results: net income 276,000, EPS 0.10.

Period: three-month period ended June 30, 2023
Net income: 276,000
EPS: 0.10
Result: reported results

Exact text from the filing

GLEN BURNIE BANCORP ANNOUNCES SECOND QUARTER 2023 RESULTS GLEN BURNIE, MD (August 1, 2023) – Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ ), the bank holding company for The Bank of Glen Burnie (“Bank”), announced today net income of $276,000, or $0.10 per basic and diluted common share for the three-month period ended June 30, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLEN BURNIE BANCORP reported six-month period ended June 30, 2023 results: net income 710,000, EPS 0.25.

Period: six-month period ended June 30, 2023
Net income: 710,000
EPS: 0.25
Result: reported results

Exact text from the filing

Bancorp reported net income of $710,000, or $0.25 per basic and diluted common share for the six-month period ended June 30, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLEN BURNIE BANCORP reported six-month period ended June 30, 2022 results: net income 540,000, EPS 0.19.

Period: six-month period ended June 30, 2022
Net income: 540,000
EPS: 0.19
Result: reported results

Exact text from the filing

compared to $540,000, or $0.19 per basic and diluted common share for the same period in 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLEN BURNIE BANCORP reported three-month period ended June 30, 2022 results: net income 309,000, EPS 0.11.

Period: three-month period ended June 30, 2022
Net income: 309,000
EPS: 0.11
Result: reported results

Exact text from the filing

compared to net income of $309,000, or $0.11 per basic and diluted common share for the three-month period ended June 30, 2022

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-086606

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