secwatch.observer — SEC 8-K summary
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Issuer:     GLEN BURNIE BANCORP (GLBZ)
CIK:        0000890066
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001104659-25-045395
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890066/000110465925045395/0001104659-25-045395-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890066/000110465925045395/tm2514160d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-045395

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