Glen Burnie Bancorp reports Q2 net loss of $212K; VAWM acquisition expected in Aug 2025

GLEN BURNIE BANCORP

2025-Q2 EPS reported -$0.02

Net loss $212K ($0.07 diluted EPS); YTD net loss $59K ($0.02 diluted EPS).
Net interest margin (tax-equiv) 3.13%, up 13 bps vs Q1 2025; loans grew $6M (11.5% annualized).
Non-recurring expenses of $287K from early retirement/severance; headcount cut from 89 to 73 YTD.
Expected to close purchase of VA Wholesale Mortgage in Aug 2025; VAWM originates ~$125M/yr in mortgages.
Non-performing loans ratio 0.51%, down 4 bps; allowance to loans 1.21%.

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