Glen Burnie Bancorp Reports Net Loss for Q2 2025

Glen Burnie Bancorp, the bank holding company for The Bank of Glen Burnie, has reported a net loss of $212,000 for the second quarter of 2025, a significant decline from its net income of $153,000 in the first quarter of 2025. Despite this setback, the company's president and CEO, Mark C. Hanna, expressed optimism about the implementation of strategic initiatives aimed at increasing new revenue sources and improving operational efficiency. These efforts, however, were hindered by non-recurring expenses related to employee severance and branch closures, which totaled $280,000.

Key Takeaways:

• The bank reported a net loss of $212,000 for the second quarter of 2025, compared to a net loss of $204,000 in the same quarter of 2024.
• Diluted loss per share was $(0.07) for the second quarter of 2025, compared to $(0.07) diluted loss per share for the second quarter of 2024.
• The bank's net charge-offs for the second quarter of 2025 were $45,000 or 0.09% to average loans, compared to net charge-offs of $4,000 or 0.01% in the first quarter of 2025.
• The bank's allowance for loan losses to loans stood at 1.21% as of June 30, 2025, a decline of 0.09% from the first quarter of 2025 and second quarter of 2024.
• The bank reduced its headcount from 89 to 73 as of June 30, 2025, as part of its cost control initiatives.
• The bank's deposit base and cost of funding remained competitive and stable during the quarter.

Statistics:

• Net loss: $212,000 (Q2 2025), -$204,000 (Q2 2024)
• Diluted loss per share: $(0.07) (Q2 2025), $(0.07) (Q2 2024)
• Net charge-offs: $45,000 (Q2 2025), $4,000 (Q1 2025)
• Allowance for loan losses to loans: 1.21% (as of June 30, 2025)

Sources:

• "Glen Burnie Bancorp Reports Second Quarter 2025 Earnings" - Glen Burnie Bancorp (no date provided)