Glen Burnie Bancorp Profit Falls

8/10/2012 2:23 PM ET

Glen Burnie Bancorp (GLBZ: Quote) Friday reported second quarter net income of $0.66 million or $0.24 per share, a decline from $0.76 million or $0.28 per share last year.

Net interest income for the quarter fell to $3.0 million from $3.4 million a year ago. Other income was $0.4 million, compared to $0.49 million last year.

There was no provision for credit losses during the quarter, as in the last year.

Total assets stood at $379.0 million as of June 30, 2012, compared to $358.0 million in the prior year. Deposits totaled $321.8 million as on June 30, 2012, compared to $306.7 million a year ago.

Shares of the company are currently trading at $11.00, down 4.26%, on the Nasdaq.

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by RTT Staff Writer

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