The Bank of Glen Burnie, a wholly owned subsidiary of Glen Burnie Bancorp, announced on August 18, 2025, the completed acquisition of VA Wholesale Mortgage, Inc. (VAWM). This acquisition is a key part of the Bank's growth and expansion plans.
VAWM, a veteran-owned-and-operated mortgage brokerage headquartered in Virginia Beach, Virginia, specializes in home financing for active-duty and retired members of the U.S. armed forces. In 2024, VAWM closed approximately $125 million in mortgage loans, bringing significant origination volume and expertise to the Bank.
This strategic move is expected to quickly grow the Bank's mortgage offerings, both in terms of products and market reach, much faster than organic growth alone. It will enable the Bank to originate and sell mortgages off its balance sheet, diversify revenue streams, and create cross-selling opportunities for its existing and new clients.
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