Glen Burnie Bancorp | 8-K: FY2025 Q3 Revenue: USD 4.508 M

Revenue: As of FY2025 Q3, the actual value is USD 4.508 M.

EPS: As of FY2025 Q3, the actual value is USD 0.04.

EBIT: As of FY2025 Q3, the actual value is USD -2.744 M.

Net Income

• Net income for the third quarter of 2025 was $125,000, a decrease of 3.1% compared to $129,000 in the third quarter of 2024. However, it was an improvement of $337,000 from a net loss of $212,000 in the second quarter of 2025.

Net Interest Margin

• The net interest margin on a tax-equivalent basis increased to 3.24% in the third quarter of 2025, up 11 basis points from the second quarter of 2025 and 10 basis points from the third quarter of 2024.

Total Loans and Deposits

• Total loans increased by $2.0 million during the third quarter of 2025 and were up $7.3 million on an average balance basis from the second quarter of 2025. Total deposits were $329.1 million at September 30, 2025, up $11.8 million from June 30, 2025.

Non-Interest Income

• Non-interest income in the third quarter of 2025 was $571,000, compared to $354,000 in the third quarter of 2024 and $220,000 in the second quarter of 2025. The increase was primarily due to mortgage fees from the acquisition of VA Wholesale Mortgage Incorporated (VAWM).

Non-Interest Expense

• Non-interest expense totaled $3.3 million for the third quarter of 2025, up $0.3 million from the third quarter of 2024, primarily due to non-recurring legal and professional fees from the acquisition of VAWM and new operating expenses from VAWM.

Acquisition Impact

• The acquisition of VAWM was completed on August 15, 2025, and generated pretax income of $36,000 from August 16 to September 30, 2025. VAWM is expected to provide access to new products and markets, and increase non-interest income through mortgage fees.

Outlook / Guidance

• Glen Burnie Bancorp is focused on strategic initiatives to improve balance sheet position and earnings, with an emphasis on growing client relationships and operational efficiency. The acquisition of VAWM is anticipated to enhance non-interest income and expand market reach. The bank is well-positioned for future growth with strong liquidity and capital.