Glen Burnie Bancorp Announces Fourth Quarter and Full Year 2022 Results

GLEN BURNIE, Md., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ), the bank holding company for The Bank of Glen Burnie (“Bank”), announced today net income of $830,000, or $0.29 per basic and diluted common share for the three-month period ended December 31, 2022, compared to net income of $554,000, or $0.19 per basic and diluted common share for the three-month period ended December 31, 2021. Bancorp reported net income of $1.75 million, or $0.61 per basic and diluted common share for the twelve-month period ended December 31, 2022, compared to $2.52 million, or $0.88 per basic and diluted common share for the same period in 2021. On December 31, 2022, Bancorp had total assets of $381.4 million. Bancorp, the oldest independent commercial bank in Anne Arundel County, paid its 122^nd consecutive quarterly dividend on February 6, 2023.

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