---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-066307"
form_type: "8-K"
ticker: "GLBZ"
cik: "0000890066"
company_name: "GLEN BURNIE BANCORP"
filed_at: "2025-07-08T23:59:59+00:00"
generated_at: "2026-05-18T09:13:37.885151+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Glen Burnie Bancorp to acquire VA Wholesale Mortgage for $750K plus earn-out

## Summary
- $750,000 cash consideration to seller Eric Tan; payment via non-interest bearing promissory note forgiven over 36 months.
- Seller receives 33% of VAWM net earnings plus 4 bps on closed loan volume for 3 years post-closing.
- Closing expected early August 2025; subject to regulatory approvals; seller to become president of VAWM.
- VAWM is a Virginia residential mortgage banker; The Bank of Glen Burnie, a GLBZ unit, is the buyer.

## SEC filing metadata
- accession: 0001104659-25-066307
- form_type: 8-K
- ticker: GLBZ
- cik: 0000890066
- company_name: GLEN BURNIE BANCORP
- filed_at: 2025-07-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/890066/000110465925066307/0001104659-25-066307-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/890066/000110465925066307/tm2520043d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-066307
- JSON: https://secwatch.observer/filing/0001104659-25-066307.json
- Plain text: https://secwatch.observer/filing/0001104659-25-066307.txt

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