Tue, May 20, 5:23 PM (34 days ago)
**Glen Burnie Bancorp (GLBZ) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Net Income:** $153,000 (Q1 2024: $3,000) - **Total Assets:** $358.0 million (Dec 2024: $359.0 million) - **Total Deposits:** $317.3 million (Dec 2024: $309.2 million) - **Shareholder's Equity:** $19.2 million (Dec 2024: $17.8 million) - **Allowance for Credit Losses:** $2.69 million (Dec 2024: $2.84 million) - **Return on Average Assets:** 0.17% (Q1 2024: 0%) - **Return on Average Equity:** 3.22% (Q1 2024: 0.06%) **Revenue & Profit Margins:** - **Net Interest Income:** $2.56 million (Q1 2024: $2.57 million) - **Total Interest Income:** $3.63 million (Q1 2024: $3.40 million) - **Total Interest Expense:** $1.1 million (Q1 2024: $833,000) - **Net Interest Margin:** 2.92% (Q1 2024: 2.86%) **Cash Flow:** - **Net Cash Provided by Operating Activities:** -$411,000 (Q1 2024: $119,000) - **Net Cash Provided by Investing Activities:** $1.56 million (Q1 2024: $8.36 million) - **Net Cash Used in Financing Activities:** -$1.93 million (Q1 2024: $18.91 million) **Earnings Changes & Trends:** - **Provision for Credit Losses:** -$146,000 (Q1 2024: $169,000) - **Income Tax Benefit:** -$29,000 (Q1 2024: -$232,000) - **Comprehensive Income:** $1.36 million (Q1 2024: -$0.94 million) **Uncertainties & Future Operations:** - **Early Retirement Incentive:** $292,675 one-time salary expense expected in Q2 2025 - **Annual Savings:** ~$380,000 from early retirement incentive - **Capital Ratios:** Above "well-capitalized" regulatory requirements - **Liquidity:** Strong, with ample capacity for future growth **Quarterly Performance Discussion:** - **Positive Trends:** Increase in net income, total deposits, and shareholder's equity - **Challenges:** Decrease in total assets, cash and cash equivalents, and investment securities - **Outlook:** Strong liquidity and capital positions support future growth **Key Ratios (Q1 2025 vs. Q1 2024):** - **Net Interest Margin:** 2.92% vs. 2.86% - **Return on Average Assets:** 0.17% vs. 0% - **Return on Average Equity:** 3.22% vs. 0.06%