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<SEC-DOCUMENT>0001024739-97-000071.txt : 19970226
<SEC-HEADER>0001024739-97-000071.hdr.sgml : 19970226
ACCESSION NUMBER:		0001024739-97-000071
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	19940331
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		19970225
SROS:			NONE

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/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-49890
		FILM NUMBER:		97542920

	BUSINESS ADDRESS:	
		STREET 1:		101 CRAIN HIGHWAY SE
		CITY:			GLEN BURNIE
		STATE:			MD
		ZIP:			21061
		BUSINESS PHONE:		4107660090

	MAIL ADDRESS:	
		STREET 1:		101 CRAIN HWY SE
		CITY:			GLEN BURNIE
		STATE:			MD
		ZIP:			21061
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<DESCRIPTION>FORM 8-K
<TEXT>



                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                 AMENDMENT 1 TO

                                    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)   March 31, 1994
                                                   --------------


                               GLEN BURNIE BANCORP
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


          Maryland                      33-62278                52-1782444
- -------------------------------   ---------------------   ----------------------
(State or other jurisdiction of   (Commission File No.)      (I.R.S. Employer
 incorporation or organization)                           Identification Number)


101 Crain Highway, S.E., Glen Burnie, MD                           21061
- ----------------------------------------                         --------
(Address of principal executive offices)                         Zip Code

Registrant's telephone number, including area code  410-766-3300
                                                    ------------


<PAGE>


Item 7.  Financial Statements and Exhibits.

         The purpose of this Amendment 1 is to file electronically confirmation
copies of the following exhibits to the registrant's Form 8-K Current Report
filed with the Securities and Exchange Commission on February 20, 1997:

         16    Letter dated February 14, 1997 from Rowles & Company regarding
change in certified public accountant.

         20    Letter to Security Holders dated February 11, 1997.

         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 hereunto duly authorized.

                                      GLEN BURNIE BANCORP
                                      -------------------
                                          Registrant

Dated:  2/25/97                          John E. Porter
                                      -------------------
                                           Signature

                                      Name :  John E. Porter
                                              --------------
                                      Title:  Treasurer
                                              --------------


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-16
<SEQUENCE>2
<DESCRIPTION>LETTER RE: CHANGE OF CERTIFYING ACCOUNTANT
<TEXT>



                                                                      EXHIBIT 16

                                                   [ROWLES & Company LETTERHEAD]



Securities and Exchange Commission
Washington, D.C. 20549


         On April 11, 1996, our appointment as auditors for Glen Burnie Bancorp
was terminated. We have read the statement concerning changes in registrant's
certifying accountant contained in their Form 8-K, item 4, dated February 13,
1997, and we agree with such statement.


                                                   [Rowles & Company, LLP]

February 14, 1997
































        [101 E. Chesapeake Avenue, Suite 300, Baltimore, Maryland 21286]
                       [(410) 583-6990 FAX (410) 583-7061]


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-20
<SEQUENCE>3
<DESCRIPTION>STATEMENTS TO SECURITY HOLDERS
<TEXT>



                                                                      EXHIBIT 20
Quarterly Report To Stockholders




                                         February 11, 1997



Dear Stockholder:

         Enclosed is your January 31, 1997 stock statement which reflects your
recent dividend.

         As you are aware, fourth quarter earnings for our primary subsidiary,
The Bank of Glen Burnie, did not meet expectations. The Bank continues to
maintain a strong capital position, despite posting a loss for 1996 of
approximately $1 million. This loss is largely attributed to additional funds
being directed to the loan loss reserve to address asset quality issues in the
loan portfolio.

         During this very challenging year, we were pleased to pay an annual
dividend of $1.20 cents per share. In an effort to maintain the Bank's capital
strength, the Board of Directors recently voted to tie future dividend payments
directly to quarterly profits. It is our intention that all future dividend
payments will reflect 40 percent of the Bank's quarterly profits.

         As always, on behalf of the directors and officers, your continued
support is greatly appreciated.

                                         Sincerely,

                                         [F. William Kuethe, Jr.]

                                         F. William Kuethe, Jr.
                                         President & CEO


* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *



            Treasurer's Report of Financial Condition as of 12/31/96
                            John E. Porter, Treasurer


        Total Assets                                 $254,314,849.12
        Stockholders Equity                           $18,576,518.32
        Book Value Per Share                                  $21.08
         (881,221 shares outstanding)
        1996 Loss                                     ($1,020,176.96)
        1996 Loss Per Share                                   ($1.16)


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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