Glen Burnie Bancorp | 10-Q: 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.

Segment Revenue

• Interest Income: Total interest income for the three months ended September 30, 2025, was $3,937,000, compared to $3,959,000 for the same period in 2024. For the nine months ended September 30, 2025, total interest income was $11,443,000, compared to $11,257,000 in 2024.

Operational Metrics

• Net Income: For the three months ended September 30, 2025, net income was $125,000, compared to $129,000 for the same period in 2024. For the nine months ended September 30, 2025, net income was $66,000, compared to a net loss of $72,000 in 2024.
• Net Interest Income: Increased by $10,000 to $2.8 million for the three months ended September 30, 2025, compared to the same period in 2024. For the nine months ended September 30, 2025, net interest income decreased by $48,000 to $8.1 million.
• Provision for Credit Losses: For the three months ended September 30, 2025, the provision was $44,000, compared to $105,000 in 2024. For the nine months ended September 30, 2025, there was a release of $498,000, compared to a provision of $897,000 in 2024.

Cash Flow

• Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used in operating activities was - $1,218,000, compared to net cash provided by operating activities of $756,000 in 2024.
• Net Cash Used in Investing Activities: For the nine months ended September 30, 2025, net cash used in investing activities was - $899,000, compared to - $6,966,000 in 2024.
• Net Cash Used in Financing Activities: For the nine months ended September 30, 2025, net cash used in financing activities was - $10,120,000, compared to net cash provided by financing activities of $13,431,000 in 2024.

Unique Metrics

• Allowance for Credit Losses: The allowance for credit losses was $2.57 million as of September 30, 2025, compared to $2.84 million at December 31, 2024.

Future Outlook and Strategy

• Core Business Focus: The company aims to maintain a strong liquidity and capital position, with a focus on optimizing the level of higher costing fixed rate funding instruments while increasing assets that are more fluid in their repricing.
• Non-Core Business: The acquisition of VA Wholesale Mortgage Incorporated is expected to enhance the Bank’s mortgage origination capabilities and expand its presence in the Mid-Atlantic market area.
• Priority: The Bank remains above all “well-capitalized” regulatory requirement levels, with a total regulatory capital to risk-weighted assets of 15.96% as of September 30, 2025.