Glen Burnie Bancorp Reports 2026 Third Quarter Results
Key Highlights
- ➤Q3 net income $205 thousand, versus a $272 thousand Q2 net loss
- ➤Net interest income rose 7.3% quarter-over-quarter to $3.2 million
- ➤Net interest margin increased to 3.19% from 3.11% linked quarter
- ➤Total loans grew 19.0% year-to-date to $275.1 million
- ➤Tangible book value per share fell to approximately $5.62 from $7.16
- ➤December 9 special meeting will consider increasing authorized shares to 15 million
Expert Statements
Mark C. Hanna, President and Chief Executive Officer of Glen Burnie Bancorp
“We saw meaningful progress in the third quarter as the balance-sheet growth generated earlier this year began to translate into improved earnings,”
Mark C. Hanna, President and Chief Executive Officer of Glen Burnie Bancorp
“Net interest income, margin and pre-tax pre-provision income all improved, while retail deposit growth exceeded loan growth and asset quality remained stable. We remain focused on building sustainable earnings, improving operating leverage and maintaining sufficient liquidity and capital to support our strategy.”
Mark C. Hanna, President and Chief Executive Officer of Glen Burnie Bancorp
“Higher market rates increased unrealized losses in the securities portfolio and reduced tangible book value, underscoring the importance of maintaining financial flexibility. If approved, the proposals at our December Special Meeting would provide the Company greater flexibility to access the capital markets if and when appropriate and expand the range of capital options available as market conditions and opportunities evolve.”
GLEN BURNIE, Md., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Glen Burnie Bancorp ("Company") (OTCQX: GLBZ), the bank holding company for The Bank of Glen Burnie ("Bank"), today reported net income of $205 thousand, or approximately $0.07 per diluted common share, for the third quarter of 2026, compared to a net loss of $272 thousand, or $(0.09) per diluted common share, for the second quarter of 2026, and net income of $125 thousand, or $0.04 per diluted common share, for the third quarter of 2025.
For the nine months ended September 30, 2026, the Company reported net income of $17 thousand, or approximately $0.01 per diluted common share, compared to net income of $66 thousand, or approximately $0.02 per diluted common share, for the first nine months of 2025.
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