Glen Burnie Bancorp reported a net loss of $272 thousand, or $0.09 per diluted common share, for the second quarter of 2026, compared to net income of $84 thousand in the first quarter and a net loss of $212 thousand a year earlier. Total loans increased $25.1 million, or 10.3%, during the quarter to $267.6 million, driven by purchased consumer loans and commercial real estate, while the provision for credit losses rose to $569 thousand primarily due to loan growth rather than credit deterioration. Net interest income was approximately $3.0 million, with a reported net interest margin of 3.11%, and mortgage commission income from VA Wholesale Mortgage increased to $353 thousand. Noninterest expense grew to $3.4 million, reflecting investments in commercial lending personnel for the Annapolis expansion and higher variable mortgage commissions. The Bank's regulatory capital ratios remained above minimums, with a Common Equity Tier 1 Capital Ratio of 11.95% at quarter-end.
Glen Burnie BancorpReported net loss of $272K vs prior year loss of $212K, with higher provision and expenses.