---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-086606"
form_type: "8-K"
ticker: "GLBZ"
cik: "0000890066"
company_name: "GLEN BURNIE BANCORP"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T15:55:45.367847+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-086606
- form_type: 8-K
- ticker: GLBZ
- cik: 0000890066
- company_name: GLEN BURNIE BANCORP
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/0001104659-23-086606-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/tm2322598d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-086606
- JSON: https://secwatch.observer/filing/0001104659-23-086606.json
- Plain text: https://secwatch.observer/filing/0001104659-23-086606.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/0001104659-23-086606-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/0001104659-23-086606-index.htm
- Earnings Releases
  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
  source text: compared to $540,000, or $0.19 per basic and diluted common share for the same period in 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/0001104659-23-086606-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/0001104659-23-086606-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.