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Glen Burnie Bancorp (GLBZ) investor relations material
Glen Burnie Bancorp Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Reported a net loss of $212,000 ($0.07 per share) for Q2 2025, down $365,000 from Q1 2025; six-month net loss narrowed to $59,000 from $201,000 year-over-year.
Net interest margin expanded to 3.13% in Q2 2025, up 13 bps from Q1 2025.
Total loans grew by $6.0 million in Q2 2025, annualized growth rate of 11.5%.
Announced acquisition of Virginia Wholesale Mortgage, Inc. (VAWM), expected to close August 2025, to expand mortgage origination and cross-selling opportunities.
Launched new credit card program as part of strategic initiatives to enhance product offerings.
Financial highlights
Total assets were $351.0 million at June 30, 2025, down $8.2 million from year-end 2024; loans grew by $8.1 million, investment securities declined by $3.4 million.
Net interest income was $2.7 million in Q2 2025, up from $2.6 million in Q1 2025, but down from $2.8 million in Q2 2024.
Non-interest income was $220,000 in Q2 2025, up from $205,000 in Q1 2025, but down from $241,000 in Q2 2024.
Noninterest expense totaled $3.3 million in Q2 2025, flat sequentially but $0.4 million higher year-over-year due to $287,000 in non-recurring early retirement and severance costs.
Total deposits increased by $8.1 million (2.6%) to $317.3 million at June 30, 2025.
Outlook and guidance
Management expects to close the VAWM acquisition in August 2025, aiming to expand mortgage origination and cross-selling opportunities.
Strategic focus remains on growing client relationships, operational efficiency, and expanding return on assets and capital.
Bank expects to reduce certain non-interest expenses in future periods as cost control initiatives take effect.
The company maintains strong liquidity and capital positions, with regulatory capital ratios well above required levels.
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