Glen Burnie Bancorp net income drops

Daily Record, The (Baltimore), Aug 9, 2007

Glen Burnie Bancorp, parent company of The Bank of Glen Burnie, reported second-quarter net income of $691,000, or 28 cents per share, versus net income of $713,000, or 29 cents per share, for the same period last year. Total assets fell to $309.5 million in this year's quarter versus $331.6 million in the 2006 period.

Although officials did not give an explanation for the drop in net income, banks in general are finding the economic climate difficult, due in part to the narrow margin between what they have to pay on deposits and what they are charging for loans.