Glen Burnie Bancorp reported on July 29, 2025, a net loss of $212,000, or $(0.07) per diluted share, for the second quarter of 2025. This compares to a net loss of $204,000, or $(0.07) per share, in the second quarter of 2024.
Despite the quarterly loss, the year-to-date net loss improved to $59,000, or $(0.02) per share, compared to a net loss of $201,000, or $(0.07) per share, for the first six months of 2024. The net interest margin, on a tax equivalent basis, expanded to 3.13% in Q2 2025, up 13 basis points from 3.00% in Q1 2025, driven by increased yields on earning assets.
The company's loan portfolio grew by $6.0 million during the quarter, an annualized rate of 11.5%, with loans now representing 58% of total earning assets, up from 50% a year ago. Operational efficiency efforts led to a headcount reduction from 89 to 73 employees, though this included over $280,000 in non-recurring expenses related to early retirement and severance programs.
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