secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001104659-24-024781
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glen Burnie Bancorp Q4 EPS falls to $0.06 from $0.29; FY EPS $0.50 vs $0.61
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- Net income for Q4 2023 was $167,000 ($0.06/share), down from $830,000 ($0.29) in Q4 2022.
- Full-year net income $1.43M ($0.50/share) compared to $1.75M ($0.61) in 2022.
- Total assets decreased 7.77% to $351.8M; deposits fell 17.32% to $300.1M.
- Net interest margin for Q4 narrowed to 3.17% from 3.27% YoY; quarterly cost of funds rose to 0.64% from 0.13%.
- Book value per share improved to $6.70 from $5.60; bank remained well-capitalized with tier 1 risk-based capital 17.37%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465924024781/0001104659-24-024781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465924024781/tm246430d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-024781

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