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Glen Burnie Bancorp (GLBZ)

Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally-owned community bank with 8 branch offices serving Anne Arundel County. The Bank is engaged in the commercial and retail banking business including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships and corporations. The Bank's real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers.

GLBZ stock data

Calendar

13 May 22
9 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 68.84M 68.84M 68.84M 68.84M 68.84M 68.84M
Cash burn (monthly) (no burn) (no burn) (no burn) (no burn) 76.67K (no burn)
Cash used (since last report) n/a n/a n/a n/a 330.32K n/a
Cash remaining n/a n/a n/a n/a 68.51M n/a
Runway (months of cash) n/a n/a n/a n/a 893.6 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Jan 22 Frederick W Kuethe Iii Common Stock Other Acquire J No No 0 15,120 0 38,483
10.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 9 7 +28.6%
Opened positions 3 1 +200.0%
Closed positions 1 5 -80.0%
Increased positions 0 2 EXIT
Reduced positions 2 1 +100.0%
13F shares Current Prev Q Change
Total value 4.16M 4.06M +2.3%
Total shares 303.8K 290.15K +4.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Edward E. Haddock, Jr. Family Trusts II 232.98K $3.26M 0.0%
Context BH Capital Management 24.31K $312K -10.9%
Geode Capital Management 18.66K $233K 0.0%
Court Place Advisors 16.69K $209K NEW
BLK Blackrock 6.76K $84K -16.4%
PNC PNC Financial Services 3.11K $39K 0.0%
MS Morgan Stanley 1.26K $16K NEW
Allworth Financial 21 $0 0.0%
Tower Research Capital 3 $0 NEW
Proequities 0 $0
Largest transactions Shares Bought/sold Change
Court Place Advisors 16.69K +16.69K NEW
Context BH Capital Management 24.31K -2.98K -10.9%
BLK Blackrock 6.76K -1.33K -16.4%
MS Morgan Stanley 1.26K +1.26K NEW
Tower Research Capital 3 +3 NEW
BAC Bank Of America 0 -3 EXIT
PNC PNC Financial Services 3.11K 0 0.0%
Proequities 0 0
Geode Capital Management 18.66K 0 0.0%
Allworth Financial 21 0 0.0%

Financial report summary

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Management Discussion
  • Net income attributable to common stockholders for the three-month period ended March 31, 2022 was $231,000, or $0.08 per basic and diluted common share compared to $594,000, or $0.21 per basic and diluted common share for the same period of 2021. The results for the three-month period ending March 31, 2022, were lower than the same period of 2021 resulting primarily from a 2021 period decrease of $304,000 in the release of credit loss allowance for loans and a $195,000 decrease in net interest income.
  • Net Interest Income. The Company’s net interest income for the three-month period ended March 31, 2022 was $2.68 million, as compared to $2.88 million for the same period in 2021, a decrease of $195,000, or 6.79%. The decrease in net interest income was due to lower interest income in the amount of $245,000, and lower interest expense in the amount of $50,000. The decrease in interest income was primarily due to a $6.1 million decrease in loan portfolio balances, offset by higher interest and dividends on securities. Although deposit driven excess liquidity fueled average interest-earning asset growth, competitive loan origination pressures as well as a low interest rate environment drove the overall decrease in average interest-earning asset yields.
  • Total interest income for the first quarter of 2022 decreased $245,000, or 7.74% when compared to the same period in 2021, from $3.16 million in 2021 to $2.92 million in 2022. The primary driver of the decrease was a $469,000 decrease in interest and fees on loans due to lower average loan balances, offset by a $193,000 increase in interest and dividends on investment securities and a $31,000 increase in interest on deposits with banks and federal funds sold due to higher average balances.

Content analysis

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