News

Glen Burnie Bancorp Announces Intended Voluntary Delisting from Nasdaq and Termination of SEC Registration

GLEN BURNIE, MD (December 12, 2025) – Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ), the bank holding Bancorp for The Bank of Glen Burnie (“Bank”), today announced that Bancorp’s board of directors (the “Board”) has approved the voluntarily delisting of Bancorp’s common stock (and related common stock purchase rights) from The Nasdaq Capital Market (“Nasdaq”) and the subsequent voluntary deregistration of its common stock with the U.S. Securities and Exchange Commission (“SEC”) in order to terminate and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Simultaneously with this announcement, Bancorp notified Nasdaq today of its intention to voluntarily delist its shares of common stock from Nasdaq. In connection with the contemplated delisting and deregistration, Bancorp intends to file a Form 25 with the SEC on or about December 22, 2025. The delisting from Nasdaq is expected to become effective on January 1, 2026, 10 days after filing the Form 25. Bancorp currently expects that the trading of its common stock on Nasdaq will be suspended upon the filing of the Form 25 on or about December 22, 2025.

The Board based its decision to delist and deregister Bancorp’s common stock on Bancorp’s intention to provide liquidity to its stockholders following the delisting by taking actions within its control to have the common stock traded on the OTCQX, operated by OTC Markets Group Inc. (the “OTC”). Bancorp has filed an application for its common stock to be quoted on the OTCQX platform, operated by the OTC. Bancorp intends to continue to provide information to its stockholders and to take such actions to enable a trading market in its common stock to exist. There is no guarantee, however, that a broker will continue to make a market in the common stock and that trading of the common stock will continue on the OTCQX or otherwise or that Bancorp will continue to provide information sufficient to enable brokers to provide quotes for its common stock.

Following the delisting of Bancorp’s common stock from Nasdaq, Bancorp intends to file a Form 15 with the SEC on or about January 2, 2026 certifying that it has fewer than 1,200 shareholders of record. Upon filing the Form 15, Bancorp’s filing obligations under the Exchange Act will immediately be suspended, and its obligations to file certain Exchange Act reports and forms with the SEC, including certain Forms 10-K, 10-Q and 8-K, will cease. Bancorp will generally be relieved of all reporting obligations under the Exchange Act upon the effectiveness of the deregistration. Bancorp expects that the deregistration of its common stock will become effective 90 days after the filing of the Form 25 with the SEC. This press release as well as the documents filed with the SEC also will be available on Bancorp’s website, https://www.thebankofglenburnie.com.

Our Board believes that the decision to delist Bancorp’s common stock from Nasdaq and deregister and suspend Bancorp’s reporting obligations under the Exchange Act are in the best interest of Bancorp and its stockholders. The Board has determined that the burdens associated with operating as a registered public company outweigh any advantages to Bancorp and its stockholders at this time. The Board made the decision to delist and deregister Bancorp’s common stock following its review and careful consideration of several factors, including, but not limited to, Bancorp’s likely future non-compliance with the continued listing requirements of Nasdaq that would inevitably result in delisting of Bancorp’s common stock by Nasdaq, lack of research coverage of Bancorp by securities and industry analysts, the lack of an active trading market for Bancorp’s securities on Nasdaq, the potential for eliminating the significant costs associated with preparing and filing periodic reports with the SEC and the legal, audit and other expenses associated with being a public reporting company listed on Nasdaq, as well as the substantial demands on management’s time in complying with these requirements. Once delisted and deregistered, the Board believes that Bancorp will redirect its financial and management resources to a wider range of business opportunities.

Following the delisting, any trading in Bancorp’s common stock would only occur in privately negotiated sales and potentially on the over-the-counter market.

Glen Burnie Bancorp Information

Glen Burnie Bancorp is a bank holding Bancorp headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with six 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.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “believe,” “may,” “future,” “plan,” “should” or “expects.” Forward-looking statements in this press release include, but are not limited to, statements relating to the delisting of Bancorp’s common stock from Nasdaq (including its intention to file a Form 25 on or about December 22, 2025) and deregistration of Bancorp’s common stock under the Exchange Act (including its intention to file a Form 15 on or about January 2, 2026), as well as the suspension of its reporting obligations under Section 15(d) of the Exchange Act, including expected timing, the potential quotation of Bancorp’s common stock in a quotation medium; and that the common stock may be eligible to be quoted on the Pink Open Market if a market maker sponsors the security. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including risks and uncertainties identified in Bancorp’s filings with the SEC, including, without limitation, Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024 and in other filings subsequently made by Bancorp with the SEC. Additional risks and uncertainties include Bancorp’s ability to file a Form 25 and Form 15 with the SEC and the timing of such filings, including their effectiveness, Bancorp’s ability to reduce its costs relating to Exchange Act and Nasdaq disclosure and reporting requirements and related regulatory burdens, and whether a market maker sponsors Bancorp’s common stock for quotation in a quotation medium. All forward-looking statements contained in this press release speak only as of the date on which they were made, and are based on management’s assumptions and estimates as of such date. Bancorp does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new or additional information, the occurrence of future events or otherwise.

For further information contact:

Todd Capitani
Executive Vice President and Chief Financial Officer

410-768-8883
tcapitani@bogb.net
106 Padfield Blvd
Glen Burnie, MD 21061

The Bank of Glen Burnie Names Todd Capitani to its Leadership Team as Chief Financial Officer

This addition underscores The Bank of Glen Burnie’s commitment to
strong, strategic growth and long-term financial stewardship.

Todd Capitani, EVP and CFO

GLEN BURNIE, MD (December 3, 2025) – The Bank of Glen Burnie^®, a wholly owned subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), has named Todd Capitani as executive vice president and chief financial officer, announced Mark C. Hanna, president and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie (the “Bank”). Capitani brings more than 35 years of financial experience across banking, corporate finance, government contracting, and public company operations. His leadership will play a key role in guiding the Bank’s financial strategy, balance sheet management, and long-term growth initiatives.

“Todd’s track record speaks for itself. He has extensive expertise in capital planning, asset-liability management, regulatory relations, and public-company reporting, making him exceptionally well-suited to help the Bank advance our strategic priorities. We are pleased to welcome him to the team, he is an excellent complement to the recent additions of several key leadership positions,” stated Mark Hanna. “I look forward to working with Todd and our team as we implement strategies to support thoughtful growth, maintain financial resiliency, and create long-term value for our customers, employees, and shareholders.”

From 2009 until joining The Bank of Glen Burnie, Capitani served as chief financial officer and executive vice president for Shore Bancshares, Inc. and its predecessor, The Community Financial Corporation. During that time, he helped lead the organization through a period of significant expansion, with total assets growing from $600 million to more than $6 billion. He played a central role during the company’s two mergers, oversaw multiple capital raises and executed public market strategies, including a successful NASDAQ listing. Prior to his time with Shore Bancshares, he held senior management positions at Deloitte Consulting and Ruesch International, Inc.

Capitani holds a Bachelor of Arts in Business Economics with an accounting concentration from the University of California, Santa Barbara, and earned a Certified Public Accountant designation. He also completed advanced leadership programs through Harvard Business School and the Yale School of Management.

“I am excited to join The Bank of Glen Burnie and believe in the vision and strategic plan Mark has developed with the Board of Directors and bank leadership team,” stated Todd Capitani. “Executing the bank’s strategic plan with thoughtful growth, expense control and balance sheet management should create operating leverage and increase profitability in a safe and sound manner. Our success will expand our reach and enhance the bank’s role in the communities we serve.”

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About Glen Burnie Bancorp

Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie^®(the “Bank”) is a locally owned community bank with six Anne Arundel County branches. The Bank is engaged in commercial and retail banking, including accepting demand and time deposits and originating 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 thebankofglenburnie.com. NMLS# 478089.

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.

The Bank of Glen Burnie Expands Mortgage Services Through Acquisition of VA Wholesale Mortgage, Inc.

Joining forces will expand The Bank of Glen Burnie’s mortgage business line both in products and footprint,

and will grow VA Wholesale Mortgage’s reach and strength under The Bank of Glen Burnie name.

GLEN BURNIE, MD (August 18, 2025) – The Bank of Glen Burnie^®, a wholly owned subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), continued its plans for growth and expansion through today’s completed acquisition of VA Wholesale Mortgage, Inc., announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie (the “Bank”). VA Wholesale Mortgage (“VAWM”), a veteran-owned-and-operated business, is headquartered in Virginia Beach, Virginia, and has an office in Jacksonville, Florida. The mortgage brokerage offers home financing to a wide range of customers, with a special focus on serving active-duty and retired members of the U.S. armed forces.

Hanna commented, “Bringing VA Wholesale Mortgage into The Bank of Glen Burnie is a win-win for the Bank, for VAWM, and most importantly, for all of our customers. VAWM CEO Eric Tan and his team have created a company with a stellar reputation for service. The Bank of Glen Burnie will add strength to their efforts by providing a consistent source of capital to fund growth. In addition, we will take on administrative responsibilities, such as human resources, IT, and finance, allowing them more time to serve clients, which is their forte. Plans call for the Bank to grow the team with originators in Anne Arundel County and expand as demand increases.

“VAWM will help us quickly grow our mortgage offerings, both products and reach, much faster than we could organically. In addition to traditional mortgage products, VAWM has expertise in FHA, VA, and first-time homebuyer mortgages, as well as mortgages with lower downpayment requirements. This accomplishes the goal of The Bank of Glen Burnie serving our growing customer base at a higher level, including the small business owners, their employees, and families who have chosen to bank with us. A home is the single largest purchase most people will ever make. Working with a knowledgeable and experienced team like VAWM ensures you get the mortgage that is best for your situation, instilling confidence as you undertake homeownership or refinancing. I couldn’t be more excited about the benefits this acquisition will bring, especially for our customers.”

VA Wholesale Mortgage, Inc., established in 2019 and beginning operations in early 2020, has an impressive team of experienced mortgage originators, including CEO Eric Tan. In 2024, VAWM closed approximately $125 million in mortgage loans. Tan, a U.S. Navy veteran now based in Jacksonville, Florida, has nearly 25 years of mortgage industry experience.

“When it comes to mortgage lending, there is not much I haven’t done,” Tan said. “It is important to me that we not only provide mortgages but also help customers understand the choices and decisions they are making, ensuring they safeguard their financial well-being. As we become part of The Bank of Glen Burnie, that focus will continue. Having a committed funding source will broaden our reach, allowing us to grow and meet the needs of our customers more readily, while also increasing lending volume.

“Mark and his team are in a strong market. We look forward to serving the mortgage needs of their current customer base and expanding it, including through outreach to veterans and active-duty military personnel. We understand what our military personnel need and can connect with them in ways most lenders cannot. While we originate mortgages for everyone, that special focus sets us apart, and it will be a key part of our growth.”

Current plans call for VA Wholesale Mortgage to operate as a dedicated division of The Bank of Glen Burnie for the foreseeable future.

Fairfax, Virginia-based Milestone Mergers and Acquisitions, led by managing partner Gary Freedman, assisted The Bank of Glen Burnie through all phases of the transaction.

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About Glen Burnie Bancorp

About VA Wholesale Mortgage, Inc.

VA Wholesale Mortgage, Inc. (VAWM) is a veteran-owned and operated mortgage company headquartered in Virginia Beach, Virginia, with a second office in Jacksonville, Florida. It serves homebuyers and homeowners across multiple states, including Florida, Georgia, Maryland, North Carolina, Tennessee, Texas, Virginia, and Washington, DC. VAWM specializes in VA home loans, helping military service members, veterans, and their families achieve the dream of homeownership. In addition to VA loans, we offer FHA, Conventional, Jumbo, and Non-QM loan products to meet a wide range of financial needs. Our mission is to simplify the mortgage process through personalized service, expert guidance, and a deep understanding of military benefits. We take pride in educating our clients, providing competitive loan options, and ensuring smooth, timely closings. Our team of experienced mortgage professionals is dedicated to serving both direct consumers and real estate professionals with integrity, transparency, and a commitment to excellence. Additional information is available at VAWholesaleMTG.com. NMLS# 1911247.

Forward-Looking Statements

Building a Team for Growth:

The Bank of Glen Burnie Promotes Jonathan Shearin to Chief Lending Officer

and Names Jeff Welch Executive Vice President and Chief Credit Officer

The continued expansion of its lending team strengthens The Bank of Glen Burnie’s commitment to being “the bank for business” in Anne Arundel County and the surrounding market.

GLEN BURNIE, MD (April 09, 2025) – The Bank of Glen Burnie^®, a wholly owned subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), announced today the expansion of its lending team to position the Bank to carry out its growth strategy focused on growing the commercial banking and lending portfolios. Jonathan Shearin, who previously served in the role of vice president and director of commercial banking, was promoted to the role of chief lending officer effective March 13, 2025. Jeff Welch was named executive vice president and chief credit officer effective March 31, 2025.

“Jonathan hit the ground running and has made a significant impact to our loan portfolio since joining the bank in 2024,” said Mark C. Hanna, President and CEO. “Jonathan is out in our community every day building relationships in Anne Arundel County and the surrounding areas while constantly looking for opportunities to help local businesses obtain the financial expertise and tools they need to grow their own businesses. His energy and leadership, combined with his early success, made him a natural fit to assume the role of chief lending officer. In his new role, Shearin will be focused on driving sales and revenue to maximize return on capital invested in loans and achieve profitability. He will be tasked with helping to develop the Bank’s lending strategy, building relationships, supervising our commercial lending team, and overseeing loan production and growth objectives.”

“I’m honored to step into this role and lead our lending team as we continue to support the businesses and communities we serve,” said Shearin. “Our focus remains on building strong client relationships, providing tailored financing strategies, and driving sustainable growth for the businesses and communities we serve. I look forward to working alongside our team to strengthen our market position and create new opportunities for long-term success.”

As the Bank builds out its leadership team tasked with growing commercial loans and deposits, Jeff Welch joins The Bank of Glen Burnie in the newly created role of chief credit officer and will also serve as executive vice president. A seasoned banking executive, Welch brings more than 40 years of progressive risk management, lending, and sales management experience to lead efforts to effectively manage credit risk and help ensure the soundness of the Bank’s loan portfolio. His responsibilities as chief credit officer will include evaluating loan applications, regulatory compliance related to credit risk, and overseeing credit administration.

Welch most recently served as executive vice president and chief credit officer at Burke & Herbert Bank, headquartered in Alexandria, Virginia, where he was responsible for the Credit Risk Management and Loan Administration Divisions. Welch has spent the entirety of his banking career in progressive leadership roles at financial institutions located in the Baltimore and Washington D.C. corridor, bringing a wealth of expertise about the banking environment, the economy and the credit needs of the area.

Welch holds a Master of Business Administration in finance from Marymount University and is a graduate of The Pennsylvania State University where he earned a Bachelor of Science in operations management.

“We are thrilled to welcome Jeff to The Bank of Glen Burnie,” remarked Hanna. “His proven track record in developing and implementing strategic plans at all levels combined with his relationship building skills will prove invaluable to us as we look to grow and thrive as we set the pace for growth during our next 75 years of community banking in Anne Arundel County. Jeff’s recent retirement from Burke & Herbert Bank presented us with an opportunity to recruit a highly experienced chief credit officer with extensive experience in credit policy and risk management/portfolio oversight in addition to sales management, financial analysis, and project management expertise. Jeff is well suited to help shape The Bank of Glen Burnie’s strategic direction. We have built a stellar lending team, and I am confident that together Jonathan and Jeff will lead this team to new heights and help The Bank of Glen Burnie significantly expand our loan portfolio while successfully managing risk.”

“I am excited to join The Bank of Glen Burnie at a time when we are poised to execute our strategic planning lending objectives focused on growing our loan portfolio,” said Welch. “We have an outstanding lending team, and I look forward to working together to build new relationships in the community and to meet the credit needs of local business owners in our market.”

Glen Burnie Bancorp Recognized by Executive Alliance as

an Honor Roll Award Recipient for Role in Women’s Leadership

GLEN BURNIE, MD (March 21, 2025) Executive Alliance, which promotes women leaders in Maryland, has named Glen Burnie Bancorp as one of 50 Maryland companies and non-profit organizations to its Honor Roll Award for Women’s Representation. This award is designed to recognize and celebrate companies and organizations that are creative and supportive in recruitment, development, support and advancement of women in the workplace and corporate boards. Each Honor Roll award organization has at least 30% of their executive leadership and 30% of their board of director seats held by women.

Learn More

Setting the Stage for Growth:

Bank of Glen Burnie Names New Director of Commercial Banking

and Vice President of Cash Management

New commercial team members will bolster The Bank of Glen Burnie’s commitment to being “the bank for business” in Anne Arundel County and the surrounding market.

GLEN BURNIE, MD (October 22, 2024) – The Bank of Glen Burnie^®, a wholly owned subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), expanded its business banking team. Jonathan Shearin was named director of commercial banking and Ed Abedi was named vice president of cash management, announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie.

Hanna commented, “We are thrilled to welcome Jonathan and Ed to the team. Growing our ability to serve the businesses of Anne Arundel County is goal number one for the Bank. As an independent, community-driven bank, we’re uniquely positioned to support small businesses—the backbone of job creation. Jonathan will champion this message in his role, ensuring that local companies know we have the products, services and people to meet their needs. Ed will play a key role in enhancing our digital services to keep pace with continually evolving demands.”

Jonathan Shearin, Director of Commercial Banking

Jonathan Shearin most recently served as a commercial relationship manager at Shore United Bank, where he worked with companies to provide banking solutions tailored to their operations and growth. Prior to this, he was a commercial relationship manager at Primis, overseeing and developing a portfolio of over $220 million. His banking career began with roles in treasury management and commercial lending at Eastern Virginia Bankshares, where he supported credit analysis and client management. He is a graduate of Randolph-Macon College in Ashland, Virginia, where he earned a Bachelor of Science in business with a concentration in finance.

Ed Abedi, VP – Cash Management

Shearin shared, “I am pleased to join the Bank of Glen Burnie. With a 75-year legacy of commitment to community and service, the Bank has deep roots in supporting local businesses. My focus will be on carrying forward that tradition, helping businesses thrive as we strengthen those connections.”

Ed Abedi has over two decades of experience in commercial banking and treasury management. Most recently, he served as vice president of commercial banking at HTLF, a regional bank headquartered in Denver, Colorado. His previous roles include positions at First Horizon Bank, EagleBank, PNC, and Bank of America Merrill Lynch (now BofA Securities), where he specialized in treasury management and commercial banking solutions. Ed is a graduate of California’s San Francisco State University.

Abedi shared, “The right digital banking tools enable companies to operate more efficiently and strategically. My role is to ensure businesses fully leverage these technologies to their advantage, which will enhance their overall experience with the Bank of Glen Burnie. I’m excited to join this team and to serve our valued customers as we continue to innovate.”

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About Glen Burnie Bancorp

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 eight Anne Arundel County branches. The Bank is engaged in commercial and retail banking, including accepting demand and time deposits and originating 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 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.

Glen Burnie Bancorp Names

Felton Magee Jr. to the Board of Directors

Magee’s appointment is part of The Bank of Glen Burnie’s commitment to being
“the bank for business” in Anne Arundel County and the surrounding market.

Felton Magee Jr.

GLEN BURNIE, MD (September 16, 2024) – Glen Burnie Bancorp (NASDAQ: GLBZ), the parent company of The Bank of Glen Burnie®, named Felton Magee Jr. to the Board of Directors, announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie.

“Felton is an accomplished business leader with a proven track record of identifying and implementing strategies for accelerating growth,” said Hanna. “He has skillfully navigated challenging situations using his expertise to streamline business processes, boost profitability, and deliver impactful results. Felton strikes the perfect balance between analytical precision and a people-centered approach. In a word, our goal is growth—growing the Bank, growing our people, and growing how we serve our communities. I’m confident Felton will play a key role in helping us achieve this objective.”

Glen Burnie Bancorp Chairman of the Board John E. Demyan stated, “The Bank has 75 years of strength and soundness to build on and is well-positioned for the opportunities that lie ahead. Over the past year, we have purposed to bring in new perspectives for the Bank and the Board. Felton is a testament to that objective, offering a rare and valuable caliber of expertise in process improvement. I am excited to work alongside him as we continue to grow The Bank of Glen Burnie.”

Magee grew up in New Orleans, Louisiana, and moved to Upper Marlboro, Maryland, as a young teen. He completed his undergraduate studies at Bowie State University with a Bachelor of Science in Banking and Finance and earned a Master of Business Administration from Loyola University. Magee is Lean Six Sigma-certified and is a certified Project Management Professional; designations that demonstrate expertise in streamlining processes, improving efficiency, and reducing waste while enhancing quality.

A United States Air Force veteran, Magee started his career in the civil engineering squadron. Following his military service, he worked for the United Parcel Service for nearly a decade as a finance manager, then served in leadership positions of progressive responsibility at Arthur Andersen Management Consulting; Thompson, Cobb, Bazilio & Associates (later Bazilio, Cobb & Associates); and Promesa Consulting Group, Inc. Magee also served as chief financial officer at Family Matters of Greater Washington. At each of these organizations, he brought to bear financial acumen and leadership skills to improve cost, quality performance, and growth.

More recently, Magee served as president and CEO of Regent HealthCare, Inc., Maryland’s largest non-franchised private pay home care company. During that time, he oversaw two successful acquisitions that doubled the company’s size and expanded operations to include Southern Maryland and Maryland’s Eastern Shore. He is now the president and CEO of Regent Healthcare Holdings and is active in real estate development.

“I am excited to join the Board and help build on the bank’s already impressive legacy,” said Magee. “As a community bank, The Bank of Glen Burnie is an essential source of funding for small businesses, both those starting up and established companies accessing the cash they need to grow. The Bank has been a steady presence for seven-and-a-half decades and is well-positioned to accelerate its growth. As a Board member, I aim to leverage my experience improving business performance to help The Bank of Glen Burnie reach new heights.”

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About Glen Burnie Bancorp

Forward-Looking Statements

News Archives

Local Business Leader Jay Baldwin Named to

Glen Burnie Bancorp Board of Directors

Baldwin’s appointment signals a renewed emphasis for The Bank of Glen Burnie on being
“the bank for business” in Anne Arundel County and the surrounding market.

Jay Baldwin

GLEN BURNIE, MD (July 15, 2024) – Glen Burnie Bancorp (NASDAQ: GLBZ), the parent company of The Bank of Glen Burnie^®, named Joseph G. “Jay” Baldwin to the Board of Directors, announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie. Baldwin’s appointment to the Board follows the retirement of former member Charles F. “Derick” Lynch Jr.

“Jay is deeply rooted in our community and is a well-respected business leader,” commented Hanna. “He will be a key voice as we reintroduce The Bank of Glen Burnie to the community as the go-to bank for small-to-mid-sized businesses. Jay understands the importance of honoring legacy and tradition while simultaneously adapting and growing to serve the changing needs of our community. In August, we will celebrate the Bank’s 75^th anniversary. This is an excellent moment to appreciate the events and people who have shaped the Bank, while looking forward to the next chapter of this storied company.”

Chairman of the Glen Burnie Bancorp Board John E. Demyan shared, “To build on the decades of success we’ve had as a Bank, we must grow alongside the people and businesses we serve. Jay will bring an invaluable point of view to our discussions and decision-making. In addition to his intellect and drive, he knows what it takes to steward a company that has served customers for generations. We are pleased to welcome him to the Board.”

A native of Anne Arundel County, Baldwin has served as president and CEO of Reliable Contracting Company, Inc., since 2002. He is a third-generation leader; his family founded Reliable in 1928. Since then, it has grown into one of Maryland’s largest site work, road, and highway construction companies. An alumnus of the University of Maryland, Baldwin began working at Reliable while in high school and became a full-time employee after graduating from college in 1986. Later in his career, he founded Reliable Commercial Construction and Reliable Real Estate Services and, through Reliable, purchased a majority stake in Environmental Quality Resources.

“My perspective as a member of the Board will be shaped by a number of influences,” commented Baldwin. “They include my passion for Anne Arundel County, my experience as both a business leader and entrepreneur and my experience at a number of organizations I’ve had the pleasure of working with throughout my career. With solid financial performance, well-positioned locations, and great leadership, The Bank of Glen Burnie has set the stage for a bright future.”

Baldwin has held various leadership positions in the construction industry, including with the Maryland Highway Contractors Association (past board president), the Associated Builders and Contractors—Chesapeake Shores Chapter (past board chairman), the Anne Arundel Utility Contractors Association (past board president), the Maryland Asphalt Association (past board member) and the National Associated Builders and Contractors (past board vice chairman).

Baldwin received the Ernst & Young Entrepreneur of The Year^® Award (2007) in the Construction and Contracting Services category for the Mid-Atlantic region. He has been involved in developing several of the area’s most successful projects, including the Quarterfield Crossing Shopping Center, the Waugh Chapel Town Center in Gambrills, and Waugh Chapel III. In 2015, he was appointed to Governor Larry Hogan’s Regulatory Reform Commission, serving with Lieutenant Governor Boyd Rutherford. The Commission conducted a comprehensive review of Maryland’s regulatory climate and issued a report identifying over 600 individual regulations that could be streamlined or eliminated. All 657 recommendations were implemented, making a lasting impact in the state.

Along with his family, Baldwin is involved in many charitable and philanthropic activities, including playing an instrumental role in the financing and building of The School of the Incarnation. Additionally, he served on the Foundation Board of Anne Arundel Medical Center for ten years and on the Building Campaign Committee for Hospice of the Chesapeake.

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About Glen Burnie Bancorp

Forward-Looking Statements

Glen Burnie Bancorp Names Mark Hanna as New President and CEO

GLEN BURNIE, MD (September 20, 2023) – Glen Burnie Bancorp (NASDAQ: GLBZ), parent company of The Bank of Glen Burnie®, announced today that Mark C. Hanna will become President and CEO at Glen Burnie Bancorp and The Bank of Glen Burnie, succeeding John D. Long, who earlier this year announced his intent to retire. Mr. Hanna will join The Bank of Glen Burnie on October 2, 2023 as Executive Vice President, and, upon Mr. Long’s retirement effective October 16, 2023, Mr. Hanna will move into the President and CEO role at Glen Burnie Bancorp and The Bank of Glen Burnie.

“We are thrilled to welcome Mark Hanna to our leadership team,” said John E. Demyan, Chairman of the Board of Glen Burnie Bancorp. “His energy and enthusiasm, combined with decades of leadership experience specific to community banking, will be an asset to our shareholders, employees, and customers. He has a proven track record of generating low-cost deposit growth, maintaining asset quality, focusing on underwriting discipline, driving digital adoption strategy, and using his business development expertise to increase growth. We are confident that Mr. Hanna has the skill and experience to lead our company to greater growth and success.”

“I am honored to step into this role and work closely with the Board of Directors at Glen Burnie Bancorp,” said Mr. Hanna. “We will continue to build strong financial relationships with the residents and businesses in northern Anne Arundel County and I am excited to work with the talented team of customer-focused employees that help make The Bank of Glen Burnie such an asset to the community.”

Mr. Hanna brings more than 30 years of banking experience, most recently serving as President and CEO at F&M Bank (Farmers and Merchants Bank), a community bank serving Virginia’s Shenandoah Valley. Earlier in his career, he served as president of Eastern Virginia Bankshares’ Tidewater Region, and as President and CEO of Virginia Company Bank (now part of Primis Financial Corp.).

Active in the banking industry, Mr. Hanna served on the Board of Directors of both the Virginia Association of Community Banks and the Benefits Corporation of the Virginia Bankers Association. Additionally, he served as Federal Delegate for the State of Virginia to the Independent Community Bankers Association. He is also actively engaged with numerous community organizations and non-profits, reflecting his passion for community development.

Mr. Hanna holds a Bachelor of Science in Business Administration from Wake Forest University and a Master of Business Administration from the University of North Carolina at Greensboro.

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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.