secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001104659-24-052542
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465924052542/0001104659-24-052542-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465924052542/tm2412764d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-052542

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