---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-112915"
form_type: "8-K"
ticker: "GLBZ"
cik: "0000890066"
company_name: "GLEN BURNIE BANCORP"
filed_at: "2024-10-31T23:59:59+00:00"
generated_at: "2026-05-30T07:52:42.067632+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Glen Burnie Bancorp Q3 net income plunges 77%; suspends quarterly dividend

## Summary
- Net income Q3 2024 $129K ($0.04 EPS) down 77% from $551K ($0.19 EPS) year ago.
- Nine-month net loss $72K vs net income $1.3M; net interest margin narrowed to 2.98%.
- Loans grew $32.2M (18.4%) to $207M; deposits flat at $314.2M.
- Company suspends quarterly cash dividends to reinvest in people, tech, and facilities.
- Bank remains well-capitalized; tier 1 risk-based capital 15.47% vs 17.37% year-end 2023.

## SEC filing metadata
- accession: 0001104659-24-112915
- form_type: 8-K
- ticker: GLBZ
- cik: 0000890066
- company_name: GLEN BURNIE BANCORP
- filed_at: 2024-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/890066/000110465924112915/0001104659-24-112915-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/890066/000110465924112915/tm2427167d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-112915
- JSON: https://secwatch.observer/filing/0001104659-24-112915.json
- Plain text: https://secwatch.observer/filing/0001104659-24-112915.txt

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