---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-052542"
form_type: "8-K"
ticker: "GLBZ"
cik: "0000890066"
company_name: "GLEN BURNIE BANCORP"
filed_at: "2024-04-26T23:59:59+00:00"
generated_at: "2026-06-03T07:04:36.325209+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Glen Burnie Bancorp posts near-zero Q1 net income of $3,000; EPS $0.00

## Summary
- Net income $3,000 vs $0.44M in Q1 2023; diluted EPS $0.00 vs $0.15.
- Net interest income fell 19% to $2.6M; net interest margin narrowed 55bp to 2.86%.
- Deposit costs rose $295K and short-term borrowing costs rose $431K versus last year.
- Total deposits grew 3% to $309.2M; borrowings up 33% to $40M; book value $6.28.
- Nonperforming assets remain low at 0.10% of total assets; 127th consecutive quarterly dividend announced (amount undisclosed).

## SEC filing metadata
- accession: 0001104659-24-052542
- form_type: 8-K
- ticker: GLBZ
- cik: 0000890066
- company_name: GLEN BURNIE BANCORP
- filed_at: 2024-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/890066/000110465924052542/0001104659-24-052542-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/890066/000110465924052542/tm2412764d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-052542
- JSON: https://secwatch.observer/filing/0001104659-24-052542.json
- Plain text: https://secwatch.observer/filing/0001104659-24-052542.txt

## Key facts
- Earnings Releases
  GLEN BURNIE BANCORP reported first quarter ended March 31, 2024 results: net income $3,000, EPS $0 per basic and diluted common share.
  - Period: first quarter ended March 31, 2024
  - Net income: $3,000
  - EPS: $0 per basic and diluted common share
  - Result: reported results
  source text: Net income for the first quarter was $3,000, or $0 per basic and diluted common share, as compared to $0.44 million, or $0.15 per basic and diluted common share for the three-month period ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/890066/000110465924052542/0001104659-24-052542-index.htm

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