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Glen Burnie Bancorp reports net income of $691,000
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Related Topics: GLEN BURNIE, Md.
GLEN BURNIE, Md. (Map, News) - Glen Burnie Bancorp announced Thursday its net income for the second quarter ending June 30 stood at $691,000, or 28 cents per share.
Net interest income after provisions for credit losses was $2.938 million.
The parent company of The Bank of Glen Burnie reported total assets at $309.488 million as of June 30, compared to $331.6 million as of June 30, 2006.
“The Bank of Glen Burnie has never entered the subprime mortgage market, and, as such, The Bank of Glen Burnie has not been adversely affected by recent trends in that market,” said Michael Livingston, chief operating officer of The Bank of Glen Burnie, in a statement.
The bank maintains assets totaling more than $300 million. It is a locally owned community bank with eight branches serving Anne Arundel County.
