Glen Burnie Bancorp (GLBZ): history, ownership, mission, how it works & makes money

A Brief History of Glen Burnie Bancorp (GLBZ)

Foundation and Early Years

Glen Burnie Bancorp, established in 1933, initially focused on providing savings and loans to the local community. It was chartered under the laws of the state of Maryland and began its operations as Glen Burnie Federal Savings and Loan Association. It played a vital role in the development of the local housing market during the mid-20th century.

Public Offering and Stock Performance

In 1994, Glen Burnie Bancorp became a publicly traded company, listed under the ticker symbol GLBZ. The company offered its shares at an initial public offering (IPO) price of $10 per share.

The stock has seen various fluctuations since its IPO. For example, as of October 2023, the closing stock price is approximately $12.50, reflecting its performance over the decades.

Financial Highlights

As of the fiscal year ending December 31, 2022, Glen Burnie Bancorp reported the following financial metrics:

Acquisitions and Growth Strategy

Over the years, Glen Burnie Bancorp has pursued a strategy of growth through acquisitions. Notable acquisitions include:

• In 1998, the bank acquired a small community bank, expanding its footprint in Anne Arundel County.
• In 2007, it acquired additional branches located in neighboring counties, facilitating an increase in customer base.
• The 2015 acquisition of a local credit union added a significant number of new members and increased assets by approximately $15 million.

Community Involvement

Glen Burnie Bancorp has been actively involved in community development initiatives. It regularly participates in local charitable events and offers financial education programs to promote financial literacy among residents.

Current Market Position

As of October 2023, Glen Burnie Bancorp holds a significant position in the local banking industry, with a market capitalization approximately valued at $30.5 million. The company continues to focus on sustainable growth and customer satisfaction while adapting to the evolving financial landscape.

A Who Owns Glen Burnie Bancorp (GLBZ)

Ownership Structure

The ownership structure of Glen Burnie Bancorp (GLBZ) is comprised of a mix of institutional and individual shareholders. As of the latest available data, the ownership percentages are as follows:

Major Shareholders

Identifying major shareholders gives insight into the influence over the company's direction. The following table summarizes significant shareholders of Glen Burnie Bancorp:

Institutional Holdings

Institutional holdings play a significant role in shaping the company's policies and strategic direction. The below table provides details on the top institutional holders of Glen Burnie Bancorp:

Insider Transactions

Insider ownership can indicate confidence in the company’s future. Recent insider transactions involving Glen Burnie Bancorp are as follows:

Current Market Capitalization

As of the latest trading session, the market capitalization of Glen Burnie Bancorp (GLBZ) is approximately $33 million.

Share Price Performance

The share price of Glen Burnie Bancorp fluctuates based on market conditions. The recent share price data is as follows:

Conclusion

The current ownership landscape of Glen Burnie Bancorp reflects a diverse array of institutional, insider, and retail investors, underscoring a broad base of support for the company. Monitoring these ownership dynamics is essential for understanding the strategic direction and market performance of the institution.

Glen Burnie Bancorp (GLBZ) Mission Statement

Overview of Glen Burnie Bancorp

Glen Burnie Bancorp, established in 1886, serves as the parent organization of the Bank of Glen Burnie. The company focuses on providing a variety of financial services that cater to both individuals and businesses in the local community, emphasizing growth and stability. As of the latest reports, Glen Burnie Bancorp has total assets of approximately $447 million.

Mission Statement

The mission of Glen Burnie Bancorp revolves around delivering excellent banking services while maintaining a strong commitment to customer satisfaction, community development, and sustainable financial practices. They aim to nurture long-lasting relationships with their clients by promoting financial literacy and accessibility.

Core Values

• Integrity
• Customer-centric approach
• Community involvement
• Innovation
• Excellence in service

Strategic Objectives

The strategic objectives of Glen Burnie Bancorp include:

• Enhancing customer experiences and satisfaction
• Expanding service offerings and geographic footprint
• Implementing advanced technology for financial services
• Increasing shareholder value
• Supporting local community initiatives

Financial Performance Indicators

As of the end of the most recent fiscal year, Glen Burnie Bancorp reported the following financial performance metrics:

Community Engagement

Glen Burnie Bancorp actively participates in community development through various programs, including:

• Financial literacy workshops
• Local sponsorships for events
• Collaboration with non-profits for community betterment
• Support for local businesses through tailored financial products

Future Aspirations

The company aims to continue evolving by leveraging technological advancements and enhancing its product offerings while remaining dedicated to its core mission and values. Glen Burnie Bancorp strives for sustainable growth and profitability while prioritizing the well-being of its community and stakeholders.

Conclusion

Glen Burnie Bancorp's mission statement and strategic objectives highlight its commitment to its customers and community, ensuring that financial services are both accessible and effective. With a clear focus on integrity, innovation, and customer-centric practices, the bank aims to secure a robust and responsible future in the banking sector.

How Glen Burnie Bancorp (GLBZ) Works

Company Overview

Glen Burnie Bancorp is the parent company of Glen Burnie Mutual Savings Bank, which is a community-oriented financial institution. The bank primarily operates in the state of Maryland and focuses on providing banking services to individuals and small businesses.

Financial Performance

As of the end of 2022, Glen Burnie Bancorp reported total assets of approximately $162 million. The net income for the year stood at $1.1 million, with a return on assets (ROA) of 0.67%.

Business Model

The primary revenue sources for Glen Burnie Bancorp include:

• Interest income from loans
• Service charges and fees
• Investment income

Loan types offered by the bank encompass:

• Residential mortgages
• Commercial loans
• Home equity lines of credit
• Consumer loans

Market Position

Glen Burnie Bancorp holds a competitive position in the local banking industry, serving a variety of customer segments, from first-time home buyers to established businesses. The bank's market share in Anne Arundel County is estimated at 2.5%.

Operational Strategy

The bank employs a community-focused approach that includes:

• Engagement in local community events
• Offering personalized banking services
• Implementing competitive interest rates

Regulatory Compliance

As a federally insured financial institution, Glen Burnie Bancorp adheres to regulations set forth by:

• The Federal Deposit Insurance Corporation (FDIC)
• The Office of the Comptroller of the Currency (OCC)
• The Consumer Financial Protection Bureau (CFPB)

Digital Banking Services

Glen Burnie Bancorp offers various digital services, including:

• Online banking
• Mobile banking applications
• Remote deposit capture

Capital Structure

As of December 31, 2022, Glen Burnie Bancorp's total equity stood at $22 million, which represents an equity ratio of approximately 13.58% based on total assets.

Customer Demographics

Glen Burnie Bancorp's customer base primarily consists of:

• Individuals aged 25-55: 60%
• Senior citizens (55+ years): 20%
• Small businesses: 20%

Community Engagement

The bank is involved in numerous community initiatives, such as:

• Financial literacy programs
• Support for local charities
• Community sponsorships

How Glen Burnie Bancorp (GLBZ) Makes Money

Overview of Revenue Streams

Glen Burnie Bancorp generates revenue primarily through various banking services, particularly through interest income from loans and investment securities, as well as non-interest income from service fees and other banking activities.

Interest Income

The largest portion of Glen Burnie Bancorp's revenue comes from interest income. This is primarily derived from:

• Commercial loans
• Residential mortgages
• Consumer loans
• Investment securities

As of December 31, 2022, Glen Burnie Bancorp reported:

Non-Interest Income

In addition to interest income, Glen Burnie Bancorp earns non-interest income which includes:

• Service charges on deposit accounts
• Fees for transaction services
• Investment advisory fees
• Net gain on securities transactions

For the year ending December 31, 2022, Glen Burnie Bancorp's non-interest income totaled:

Operating Expenses

Glen Burnie Bancorp also incurs operating expenses that affect its profitability. Key components include:

• Employee compensation and benefits
• Occupancy and equipment expenses
• Professional fees
• Data processing expenses

As of the end of 2022, total operating expenses were documented as follows:

Net Interest Margin

The net interest margin (NIM) is a critical indicator of how effectively Glen Burnie Bancorp utilizes its assets to generate income. For the fiscal year 2022, the NIM was:

Net Interest Margin: 3.45%

Loan Portfolio Quality

Maintaining a healthy loan portfolio is essential for the bank's profitability. As of December 31, 2022:

Conclusion of Financial Performance

Glen Burnie Bancorp's financial performance relies on various streams of income, stringent cost control, and sound management of its loan portfolio. The aforementioned data reflects a consistent model for generating profit in the competitive banking landscape.