secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001104659-23-086606
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/0001104659-23-086606-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465923086606/tm2322598d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-086606

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