Glen Burnie Bancorp reports Q2 net loss, loans grow 11.5%-February 2024-www.financetom.com

Glen Burnie Bancorp reports Q2 net loss, loans grow 11.5%

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Glen Burnie Bancorp reports Q2 net loss, loans grow 11.5%

Jul 29, 2025 1:29 PM

Overview

* Glen Burnie Bancorp ( GLBZ ) reports Q2 net loss of $212,000, down from Q1 net income

* Company's net interest margin expands 13 basis points sequentially in Q2

* Total loans grow $6.0 mln in Q2, annualized growth rate of 11.5%

Outlook

* Glen Burnie Bancorp ( GLBZ ) expects to close VA Wholesale Mortgage acquisition in August 2025

* Company anticipates increased non-interest income from VA Wholesale Mortgage acquisition

* Company sees strong liquidity and stable deposit costs as positive for growth

* Glen Burnie Bancorp ( GLBZ ) focuses on cost control and operational efficiency to boost growth

Result Drivers

* NON-RECURRING EXPENSES - Over $280,000 in non-recurring expenses due to early retirement and employee severance

* LOAN GROWTH - Total loans increased by $6.0 mln, driven by commercial real estate and consumer loans

* DEPOSIT STABILITY - Deposits remained stable at $317.3 mln, with non-interest bearing deposits showing growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$0.07

Q2 Net -$212,00

Income 0

Q2 Net $2.74

Interest mln

Income

Q2 Net 3.13%

Interest

Margin

Q2 -$375,00

Pretax 0

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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