0001104659-23-077094.txt : 20230630 0001104659-23-077094.hdr.sgml : 20230630 20230630160707 ACCESSION NUMBER: 0001104659-23-077094 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20230630 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230630 DATE AS OF CHANGE: 20230630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLEN BURNIE BANCORP CENTRAL INDEX KEY: 0000890066 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 521782444 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24047 FILM NUMBER: 231061753 BUSINESS ADDRESS: STREET 1: 101 CRAIN HWY SE CITY: GLEN BURNIE STATE: MD ZIP: 21227 BUSINESS PHONE: 4107663300 MAIL ADDRESS: STREET 1: 101 CRAIN HWY SE CITY: GLEN BURNIE STATE: MD ZIP: 21227 8-K 1 tm2320331d1_8k.htm FORM 8-K
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): June 30, 2023

 

GLEN BURNIE BANCORP

(Exact name of registrant as specified in its charter)

 

Maryland 0-24047 52-1782444
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation)   Identification No.)

 

101 Crain Highway, S.E., Glen Burnie, Maryland 21061

(Address of Principal Executive Offices)

 

Registrant’s telephone number, including area code: (410) 766-3300

 

Inapplicable

(Former Name or Former Address if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).         Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading symbol Name of each exchange on which registered
Common Stock GLBZ Nasdaq Capital Market

 

 

 

 

 

 

INFORMATION TO BE INCLUDED IN THE REPORT

  

Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

  

On June 30, 2023, John D. Long, a member of the Board of Directors and President and Chief Executive Officer of Glen Burnie Bancorp (the “Company”) and its wholly-owned subsidiary, The Bank of Glen Burnie (the “Bank”) since 2016, notified the Company’s Board of Directors that, effective December 31, 2023, he will retire from his positions with, and as a director of, the Company and the Bank, to spend more time with family and pursue other opportunities. The Board of Directors has commenced an executive search for a new President and Chief Executive Officer.

 

Item 9.01.Financial Statements and Exhibits.

 

(c)       Exhibits

 

The following exhibits are furnished herewith:

 

Exhibit No.  
99.1 Press Release dated June 30, 2023
104 Cover Page Interactive Data File (embedded as Inline XBRL document)

  

 

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

    GLEN BURNIE BANCORP
    (Registrant)
     
Date: June 30, 2023 By: /s/ John D. Long
    John D. Long
    Chief Executive Officer

 

 

 

EX-99.1 2 tm2320331d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

 

 

Press ReleaseFor Immediate Release
 Date: June 30, 2023

 

PRESIDENT AND CEO JOHN LONG ANNOUNCES INTENTION TO RETIRE FROM THE BANK OF GLEN BURNIE

 

GLEN BURNIE, MD (June 30, 2023) – Glen Burnie Bancorp (NASDAQ: GLBZ), parent company of The Bank of Glen Burnie®, announced today that President and CEO, John D. Long, plans to retire from the Bank by the end of 2023 to spend more time with family and pursue other opportunities. Mr. Long will work closely with the Board of Directors to ensure a smooth leadership transition and will remain at the Bank during the transition period.

 

“On behalf of the Board of Directors, the management team, and our employees, I would like to extend our sincere gratitude to Mr. Long for his service to The Bank of Glen Burnie and Glen Burnie Bancorp,” said John E. Demyan, Chairman of the Board. “During his leadership, we made great strides to modernize our technology and expand our retail and business product offerings. We are grateful for these contributions, and we wish him the best in his future endeavors. We have an experienced leadership team in place and are poised for success during this transition period and well into the future.”

 

“The decision to retire from the Bank is not an easy one,” said Mr. Long. “I am extremely proud of the numerous accomplishments and the incredibly talented team of people I have had the privilege to work alongside during my time at The Bank of Glen Burnie. The hard work and dedication of our management team, our Board, and our employees has allowed us to achieve so much. It has truly been an honor to lead this wonderful community bank for the past seven years.”

 

“I am excited to begin this new chapter,” continued Mr. Long. “I am fully committed to working closely with the Board to ensure that my successor is ready to take the reins and maintain the positive momentum as we forge a path to greater growth and success.”

 

The Board of Directors has commenced an executive search and will oversee the process of choosing Mr. Long’s successor.

 

# # #

 

 

 

 

Glen Burnie Bancorp Information

 

Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with 8 branch offices serving Anne Arundel County. The Bank is engaged in the commercial and retail banking business including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at www.thebankofglenburnie.com.

 

Forward-Looking Statements

 

The statements contained herein that are not historical financial information, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. For a more complete discussion of these and other risk factors, please see the company’s reports filed with the Securities and Exchange Commission.

 

For further information contact:

 

Janet Kim, Director of Marketing and Public Relations

410-768-8857

jkim@bogb.net

106 Padfield Blvd

Glen Burnie, MD 21061

 

 

 

 

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Cover
Jun. 30, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Jun. 30, 2023
Entity File Number 0-24047
Entity Registrant Name GLEN BURNIE BANCORP
Entity Central Index Key 0000890066
Entity Tax Identification Number 52-1782444
Entity Incorporation, State or Country Code MD
Entity Address, Address Line One 101 Crain Highway
Entity Address, Address Line Two S.E.
Entity Address, City or Town Glen Burnie
Entity Address, State or Province MD
Entity Address, Postal Zip Code 21061
City Area Code 410
Local Phone Number 766-3300
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol GLBZ
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
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