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Bank holding companies

Glen Burnie Bancorp Reports First Quarter 2025 Earnings

Strategic Insights

— 1 min read

Glen Burnie Bancorp, the holding company for The Bank of Glen Burnie, reported results for the first quarter ended March 31, 2025, with net income of $153,000, or $0.05 per basic and diluted common share. This represents a significant increase from the first quarter of 2024, when net income was $3,000, or $0 per basic and diluted common share. The company's total assets stood at $358.0 million as of March 31, 2025, and the bank continues to focus on growing loans and deposits to improve revenues and profitability.

Key Takeaways:

  • Net income for the first quarter of 2025 was $153,000, a significant increase from $3,000 in the first quarter of 2024.
  • The company's total assets stood at $358.0 million as of March 31, 2025, with a decrease of $1.0 million or 0.27% from December 31, 2024.
  • Loan balances increased 16.52% over the last four quarters, growing from $178.0 million on March 31, 2024, to $207.4 million on March 31, 2025.
  • Total deposits increased $8.1 million or 2.61% from December 31, 2024, to $317.3 million on March 31, 2025.
  • The company's return on average assets was 0.17% for the three-month period ended March 31, 2025, compared to 0% for the same period in 2024.
  • The company's return on average equity was 3.22% for the three-month period ended March 31, 2025, compared to 0.06% in 2024.
  • The company's liquidity remains strong due to its managed cash and cash equivalents, borrowing lines with the FHLB of Atlanta, the Federal Reserve, and correspondent banks, and the size and composition of the bond portfolio.
  • The company's capital levels, asset quality, diversified deposit base, and access to multiple liquidity sources remain strong.

Statistics:

  • Net income: $153,000 (Q1 2025), $3,000 (Q1 2024)
  • Return on average assets: 0.17% (Q1 2025), 0% (Q1 2024)
  • Return on average equity: 3.22% (Q1 2025), 0.06% (Q1 2024)
  • Total assets: $358.0 million (Q1 2025), $359.0 million (Q4 2024)
  • Loan balances: $207.4 million (Q1 2025), $178.0 million (Q1 2024)
  • Total deposits: $317.3 million (Q1 2025), $309.2 million (Q4 2024)
  • Total borrowings: $20.0 million (Q1 2025), $30.0 million (Q4 2024)

Sources:

  • [Glen Burnie Bancorp News Release] (March 31, 2025)

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