Glen Burnie Bancorp swings to Q2 FY26 net loss of 272,000; provision for credit losses rises to 569,000
GLBZ•Loans and deposits increase
- Total loans climbed 10.3% to USD 267.6 million during the quarter, while retail deposits rose 1.4% to USD 343.2 million.
- Net interest margin narrowed 15 basis points to 3.11% from Q1 2026; core net interest margin improved to 3.11%.
Quarterly results turn to loss
- Glen Burnie Bancorp turned to a net loss of USD 272,000, or USD 0.09 per share, in Q2 2026 from net income in Q1 2026.
- Provision for credit losses widened to USD 569,000 from USD 86,000 in Q1 2026, reflecting loan growth and unfunded commitments.
Mortgage income and management comments
- Mortgage commission income increased to USD 353,000 from USD 197,000; Mark C. Hanna cited strong loan growth and Annapolis expansion hiring.
