Glen Burnie Bancorp
NASDAQ:GLBZ

  • LAST PRICE
    5.1700
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    4.9200/ 1
  • Ask / Lots
    5.1600/ 4
  • Open / Previous Close
    5.2400 / 5.1700
  • Day Range
    4.8501
    5.2700
  • 52 Week Range
    4.6700
    9.8200
  • Volume
    2,037

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  • Apr 26, 2024

      Show headlines and story abstract

    • 10:29AM ET on Friday Apr 26, 2024 by GlobeNewswire
      Companies Mentioned: GLBZ

    • 10:28AM ET on Friday Apr 26, 2024 by Dow Jones
      Companies Mentioned: GLBZ
      related expenses 23 22 Loan collection costs 5 1 Telephone costs 40 41 Other expenses 302 280 Total Noninterest Expenses 2,861 2,944 --- ---------- ---------- (Loss) income before income taxes (229) 521 Income tax (benefit) expense (232) 86 --- ---------- ---------- Net income $ 3 $ 435 === ========== ========== Basic and diluted net income per common share $ - $ 0.15 === ========== ========== GLEN BURNIE BANCORP AND SUBSIDIARY CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY For the three months ended March 31, 2024 and 2023 (dollars in thousands) Accumulated Additional Other Total Common Paid-in Retained Comprehensive Stockholders' (unaudited) Stock Capital Earnings Income (Loss) Equity ------ ------------ -------- --------------- ----------------- Balance, December 31, 2022 $2,865 $ 10,862 $23,579 $ (21,252) $ 16,054 Net income - - 435 - 435 Cash dividends, $0.10 per share - - (287) - (287) Dividends reinvested under dividend reinvestment plan 4 26 - - 30 Other comprehensive gain - - - 2,003 2,003 ----- -------- ------ --- --------- --- -------- Balance, March 31, 2023 $2,869 $ 10,888 $23,727 $ (19,249) $ 18,235 ===== ======== ====== === ========= === ======== Accumulated Additional Other Total Common Paid-in Retained Comprehensive Stockholders' (unaudited) Stock Capital Earnings Income (Loss) Equity ------ ------------ -------- --------------- ----------------- Balance, December 31, 2023 $2,883 $ 10,964 $23,859 $ (18,381) $ 19,325 Net income - - 3 - 3 Cash dividends, $0.10 per share - - (287) - (287) Dividends reinvested under dividend reinvestment plan 4 25 - - 29 Other comprehensive loss - - - (941) (941) ----- -------- ------ --- --------- --- -------- Balance, March 31, 2024 $2,887 $ 10,989 $23,575 $ (19,322) $ 18,129 ===== ======== ====== === ========= === ======== THE BANK OF GLEN BURNIE CAPITAL RATIOS (dollars in thousands) (unaudited) To Be Well Capitalized Under To Be Considered Prompt Corrective Adequately Capitalized Action Provisions ------- --------- ----------------- ------------------ Amount Ratio Amount Ratio Amount Ratio -------- --------- ------- -------- ------- --------- As of March 31, 2024 ----------------------- Common Equity Tier 1 Capital $37,359 17.14% $ 9,810 4.50% $14,170 6.50% Total Risk-Based Capital $39,891 18.30% $17,440 8.00% $21,799 10.00% Tier 1 Risk-Based Capital $37,359 17.14% $13,080 6.00% $17,440 8.00% Tier 1 Leverage $37,359 10.43% $14,329 4.00% $17,911 5.00% As of December 31, 2023: ----------------------- Common Equity Tier 1 Capital $37,975 17.37% $ 9,840 4.50% $14,213 6.50% Total Risk-Based Capital $40,237 18.40% $17,493 8.00% $21,867 10.00% Tier 1 Risk-Based Capital $37,975 17.37% $13,120 6.00% $17,493 8.00% Tier 1 Leverage $37,975 10.76% $14,113 4.00% $17,641 5.00% As of March 31, 2023: ----------------------- Common Equity Tier 1 Capital $37,777 16.57% $10,257 4.50% $14,816 6.50% Total Risk-Based Capital $40,052 17.57% $18,234 8.00% $22,793 10.00% Tier 1 Risk-Based Capital $37,777 16.57% $13,676 6.00% $18,234 8.00% Tier 1 Leverage $37,777 10.12% $14,933 4.00% $18,666 5.00% GLEN BURNIE BANCORP AND SUBSIDIARY SELECTED FINANCIAL DATA (dollars in thousands, except per share amounts) Three Months Ended Year Ended ---------------------------------------------- -------------- March 31, December 31, March 31, December 31, 2024 2023 2023 2023 (unaudited) (unaudited) (unaudited) (unaudited) -------------- -------------- -------------- -------------- Financial Data Assets $ 369,870 $ 351,813 $ 363,413 $ 351,813 Investment securities 128,727 139,427 144,726 139,427 Loans, (net of deferred fees & costs) 177,950 176,307 184,141 176,307 Allowance for loan losses 2,035 2,157 2,161 2,157 Deposits 309,231 300,067 343,014 300,067 Borrowings 40,000 30,000 - 30,000 Stockholders' equity 18,129 19,325 18,235 19,325 Net income 3 167 435 1,429 Average Balances Assets $ 358,877 $ 353,085 $ 373,590 $ 361,731 Investment securities 163,618 174,581 172,519 173,902 Loans, (net of deferred fees & costs) 175,914 175,456 184,787 179,790 Deposits 305,858 310,168 353,861 330,095 Borrowings 31,667 26,579 2 12,580 Stockholders' equity 19,124 14,253 17,821 17,105 Performance Ratios Annualized return on average assets 0.00% 0.19% 0.47% 0.40% Annualized return on average equity 0.06% 4.65% 9.90% 8.35% Net interest margin 2.86% 3.17% 3.41% 3.31% Dividend payout ratio 9426% 172% 66% 80% Book value per share $ 6.28 $ 6.70 $ 6.36 $ 6.70 Basic and diluted net income per share - 0.06 0.15 0.50 Cash dividends declared per share 0.10 0.10 0.10 0.40 Basic and diluted weighted average shares outstanding 2,885,552 2,880,398 2,867,082 2,873,500 Asset Quality Ratios Allowance for loan losses to loans 1.14% 1.22% 1.17% 1.22% Nonperforming loans to avg. loans 0.21% 0.30% 0.26% 0.29% Allowance for loan losses to nonaccrual & 90+ past due loans 549.1% 409.3% 451.6% 409.3% Net charge-offs annualize to avg. loans 0.66% 0.08% -0.09% 0.06% Capital Ratios Common Equity Tier 1 Capital 17.14% 17.37% 16.57% 17.37% Tier 1 Risk-based Capital Ratio 17.14% 17.37% 16.57% 17.37% Leverage Ratio 10.43% 10.76% 10.12% 10.76% Total Risk-Based Capital Ratio 18.30% 18.40% 17.57% 18.40% For further information contact: Jeffrey D. Harris, Chief Financial Officer 410-768-8883 jdharris@bogb.net 106 Padfield Blvd Glen Burnie, MD 21061

    • 10:28AM ET on Friday Apr 26, 2024 by Dow Jones
      Companies Mentioned: GLBZ
      related expenses 23 22 Loan collection costs 5 1 Telephone costs 40 41 Other expenses 302 280 Total Noninterest Expenses 2,861 2,944 --- ---------- ---------- (Loss) income before income taxes (229) 521 Income tax (benefit) expense (232) 86 --- ---------- ---------- Net income $ 3 $ 435 === ========== ========== Basic and diluted net income per common share $ - $ 0.15 === ========== ========== GLEN BURNIE BANCORP AND SUBSIDIARY CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY For the three months ended March 31, 2024 and 2023 (dollars in thousands) Accumulated Additional Other Total Common Paid-in Retained Comprehensive Stockholders' (unaudited) Stock Capital Earnings Income (Loss) Equity ------ ------------ -------- --------------- ----------------- Balance, December 31, 2022 $2,865 $ 10,862 $23,579 $ (21,252) $ 16,054 Net income - - 435 - 435 Cash dividends, $0.10 per share - - (287) - (287) Dividends reinvested under dividend reinvestment plan 4 26 - - 30 Other comprehensive gain - - - 2,003 2,003 ----- -------- ------ --- --------- --- -------- Balance, March 31, 2023 $2,869 $ 10,888 $23,727 $ (19,249) $ 18,235 ===== ======== ====== === ========= === ======== Accumulated Additional Other Total Common Paid-in Retained Comprehensive Stockholders' (unaudited) Stock Capital Earnings Income (Loss) Equity ------ ------------ -------- --------------- ----------------- Balance, December 31, 2023 $2,883 $ 10,964 $23,859 $ (18,381) $ 19,325 Net income - - 3 - 3 Cash dividends, $0.10 per share - - (287) - (287) Dividends reinvested under dividend reinvestment plan 4 25 - - 29 Other comprehensive loss - - - (941) (941) ----- -------- ------ --- --------- --- -------- Balance, March 31, 2024 $2,887 $ 10,989 $23,575 $ (19,322) $ 18,129 ===== ======== ====== === ========= === ======== THE BANK OF GLEN BURNIE CAPITAL RATIOS (dollars in thousands) (unaudited) To Be Well Capitalized Under To Be Considered Prompt Corrective Adequately Capitalized Action Provisions ------- --------- ----------------- ------------------ Amount Ratio Amount Ratio Amount Ratio -------- --------- ------- -------- ------- --------- As of March 31, 2024 ----------------------- Common Equity Tier 1 Capital $37,359 17.14% $ 9,810 4.50% $14,170 6.50% Total Risk-Based Capital $39,891 18.30% $17,440 8.00% $21,799 10.00% Tier 1 Risk-Based Capital $37,359 17.14% $13,080 6.00% $17,440 8.00% Tier 1 Leverage $37,359 10.43% $14,329 4.00% $17,911 5.00% As of December 31, 2023: ----------------------- Common Equity Tier 1 Capital $37,975 17.37% $ 9,840 4.50% $14,213 6.50% Total Risk-Based Capital $40,237 18.40% $17,493 8.00% $21,867 10.00% Tier 1 Risk-Based Capital $37,975 17.37% $13,120 6.00% $17,493 8.00% Tier 1 Leverage $37,975 10.76% $14,113 4.00% $17,641 5.00% As of March 31, 2023: ----------------------- Common Equity Tier 1 Capital $37,777 16.57% $10,257 4.50% $14,816 6.50% Total Risk-Based Capital $40,052 17.57% $18,234 8.00% $22,793 10.00% Tier 1 Risk-Based Capital $37,777 16.57% $13,676 6.00% $18,234 8.00% Tier 1 Leverage $37,777 10.12% $14,933 4.00% $18,666 5.00% GLEN BURNIE BANCORP AND SUBSIDIARY SELECTED FINANCIAL DATA (dollars in thousands, except per share amounts) Three Months Ended Year Ended ---------------------------------------------- -------------- March 31, December 31, March 31, December 31, 2024 2023 2023 2023 (unaudited) (unaudited) (unaudited) (unaudited) -------------- -------------- -------------- -------------- Financial Data Assets $ 369,870 $ 351,813 $ 363,413 $ 351,813 Investment securities 128,727 139,427 144,726 139,427 Loans, (net of deferred fees & costs) 177,950 176,307 184,141 176,307 Allowance for loan losses 2,035 2,157 2,161 2,157 Deposits 309,231 300,067 343,014 300,067 Borrowings 40,000 30,000 - 30,000 Stockholders' equity 18,129 19,325 18,235 19,325 Net income 3 167 435 1,429 Average Balances Assets $ 358,877 $ 353,085 $ 373,590 $ 361,731 Investment securities 163,618 174,581 172,519 173,902 Loans, (net of deferred fees & costs) 175,914 175,456 184,787 179,790 Deposits 305,858 310,168 353,861 330,095 Borrowings 31,667 26,579 2 12,580 Stockholders' equity 19,124 14,253 17,821 17,105 Performance Ratios Annualized return on average assets 0.00% 0.19% 0.47% 0.40% Annualized return on average equity 0.06% 4.65% 9.90% 8.35% Net interest margin 2.86% 3.17% 3.41% 3.31% Dividend payout ratio 9426% 172% 66% 80% Book value per share $ 6.28 $ 6.70 $ 6.36 $ 6.70 Basic and diluted net income per share - 0.06 0.15 0.50 Cash dividends declared per share 0.10 0.10 0.10 0.40 Basic and diluted weighted average shares outstanding 2,885,552 2,880,398 2,867,082 2,873,500 Asset Quality Ratios Allowance for loan losses to loans 1.14% 1.22% 1.17% 1.22% Nonperforming loans to avg. loans 0.21% 0.30% 0.26% 0.29% Allowance for loan losses to nonaccrual & 90+ past due loans 549.1% 409.3% 451.6% 409.3% Net charge-offs annualize to avg. loans 0.66% 0.08% -0.09% 0.06% Capital Ratios Common Equity Tier 1 Capital 17.14% 17.37% 16.57% 17.37% Tier 1 Risk-based Capital Ratio 17.14% 17.37% 16.57% 17.37% Leverage Ratio 10.43% 10.76% 10.12% 10.76% Total Risk-Based Capital Ratio 18.30% 18.40% 17.57% 18.40% For further information contact: Jeffrey D. Harris, Chief Financial Officer 410-768-8883 jdharris@bogb.net 106 Padfield Blvd Glen Burnie, MD 21061

  • Apr 12, 2024

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