Glen Burnie Bancorp Q1 net income $153K vs $3K YoY, driven by credit provision release

GLEN BURNIE BANCORP

2025-Q1 EPS reported $0.05

Q1 2025 net income $153K ($0.05/share) vs $3K ($0.00/share) a year ago; total assets $358M.
Net interest income $2.56M, down $8K YoY; net interest margin improved to 2.92% from 2.86%.
Loans grew 16.5% YoY to $207.4M; deposits up 2.6% QoQ to $317.3M.
Nonperforming assets rose to 0.32% of total assets from 0.10%; allowance for credit losses at 1.30% of loans.
Closed Linthicum branch in Jan 2025; plans Severna Park closure in May 2025 plus early retirement program.

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