News

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.

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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.