<SEC-DOCUMENT>0001144204-12-027818.txt : 20120511
<SEC-HEADER>0001144204-12-027818.hdr.sgml : 20120511
<ACCEPTANCE-DATETIME>20120511090805
ACCESSION NUMBER:		0001144204-12-027818
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20120511
DATE AS OF CHANGE:		20120511

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:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-181328
		FILM NUMBER:		12832293

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>v312830_s3.htm
<DESCRIPTION>FORM S-3
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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on May 11, 2012</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: right"><B>Registration Number 333-_________</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>



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<P STYLE="font: 10pt Times New Roman Bold; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM S-3</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-size: 18pt">GLEN
BURNIE BANCORP</FONT></P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center"><BR
STYLE="mso-special-character:
line-break">
</P>

<P STYLE="font: 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-weight: normal; text-transform: none"><I>(<FONT STYLE="font-size: 9pt">Exact
Name of Registrant as Specified in Its Charter</FONT>)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-weight: normal; text-transform: none"><I>&nbsp;</I></FONT></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 10pt Times New Roman; tab-stops: .25in; text-align: center"><B>Maryland<BR>
</B>(<FONT STYLE="font-size: 9pt"><I>State or Other Jurisdiction of Incorporation or Organization</I></FONT>)</TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman; tab-stops: .25in; text-align: center"><B>52-1782444<BR>
</B>(<FONT STYLE="font-size: 9pt"><I>I.R.S. Employer Identification No</I></FONT>.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>101 Crain Highway, S.E.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Glen Burnie, Maryland 21061</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>(410) 766-3300</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><I>(Address, Including Zip Code, and Telephone Number,
Including Area Code, of</I></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><I>Registrant&rsquo;s Principal Executive Offices)</I></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Michael G. Livingston</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>President</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>101 Crain Highway, S.E.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Glen Burnie, Maryland 21061</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>(410) 766-3300</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">(<FONT STYLE="font-size: 9pt"><I>Name, Address, Including
Zip Code, and Telephone Number, Including Area Code, of Agent for Service</I></FONT>)</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Copy to:</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Hillel Tendler, Esquire<BR>
Neuberger, Quinn, Gielen, Rubin &amp; Gibber, P.A.<BR>
One South Street, 27th Floor<BR>
Baltimore, Maryland 21202<BR>
(410) 332-8552</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">Approximate date of commencement of proposed sale to
the public: <B>From time to time after the effective date of this registration statement.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">If the only securities being registered on this form
are being offered pursuant to dividend or interest reinvestment plans, please check the following box. <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">If any of the securities being registered on this form
are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act, other than securities offered
only in connection with dividend or interest reinvestment plans, check the following box. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">If this form is filed to register additional securities
for an offering pursuant to Rule&nbsp;462(b) under the Securities Act, please check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">If this form is a post-effective amendment filed pursuant
to Rule&nbsp;462(c) under the Securities Act, check the following box and list the Securities Act registration statement number
of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">If this Form is a registration statement pursuant to
General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant
to Rule&nbsp;462(e) under the Securities Act, check the following box. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">If this Form is a post-effective amendment to a registration
statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities
pursuant to Rule&nbsp;413(b) under the Securities Act, check the following box. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark if the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definition of &ldquo;large accelerated
filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act. (Check
one)</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Large Accelerated Filer <FONT STYLE="font-family: Wingdings">&uml;</FONT>
Accelerated Filer <FONT STYLE="font-family: Wingdings">&uml;</FONT> Non-Accelerated Filer <FONT STYLE="font-family: Wingdings">&uml;</FONT>
Smaller Reporting Company <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">CALCULATION OF REGISTRATION
FEE</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Title of each class of securities <BR>to be registered</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount to be <BR>registered (1)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed <BR>maximum offering <BR>price per share (2)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed <BR>maximum <BR>aggregate <BR>offering price (2)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount of <BR>Registration Fee</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%; text-align: center">Common Stock, $1.00 par value per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">150,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">10.15</TD><TD STYLE="width: 1%; text-align: left"><SUP>(2)</SUP></TD><TD STYLE="width: 1%"><SUP>&nbsp;</SUP></TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,522,500</TD><TD STYLE="width: 1%; text-align: left"><SUP>(2)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">174.48</TD><TD STYLE="width: 1%; text-align: left"><SUP>(3)</SUP></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">(1)&#9;On March 8, 2012, the Registrant&rsquo;s board
of directors authorized the issuance of an additional 150,000 shares under the dividend reinvestment portion of the Registrant&rsquo;s
Dividend Reinvestment and Stock Purchase Plan.&nbsp;&nbsp;The shares being registered hereby do not include shares of common stock
previously registered on Registration Statement No. 033-37073 on Form S-1, as amended.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">(2)&#9;Estimated solely for the purpose of determining
the registration fee in accordance with Rule 457(c).&nbsp;&nbsp;Based upon the average of the high and low price, as reported by
NASDAQ Capital Market as of May 9, 2012.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>&nbsp;</B></P>



<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B></B>&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

<P STYLE="font: bold 22pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-variant: small-caps; text-transform: none">Glen
Burnie Bancorp</FONT></P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman; margin: 0pt 0; text-align: center"><B>Dividend Reinvestment and Stock Purchase Plan</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>150,000</B></FONT> <FONT STYLE="font-size: 12pt"><B>SHARES
OF COMMON STOCK</B></FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This Prospectus relates to 150,000
shares of the $1.00 par value common stock of Glen Burnie Bancorp (the &ldquo;Company&rdquo;) which may be issued to the Company&rsquo;s
shareholders who have elected to reinvest Company dividends under the Company&rsquo;s Dividend Reinvestment and Stock Purchase
Plan (the &ldquo;Plan&rdquo;). The Plan was adopted in 1998. The shares in the Plan are subject to the terms of a shareholder rights
plan. The shareholder rights plan provides for a dividend distribution of rights to purchase shares of the Company&rsquo;s common
stock upon the occurrence of certain events.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Plan provides shareholders of
the Company&rsquo;s common stock with a simple and convenient method of investing cash dividends in additional shares of common
stock. Shareholders who elect to enroll in the Plan (&ldquo;participants&rdquo;) will, if they so desire, direct any cash dividends
paid on their shares of Company common stock toward automatic investment in additional shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The purchase price of shares purchased
from the Company will be the fair market value per share, as defined, at the purchase date less a 5% discount unless the Company&rsquo;s
Board of Directors determines otherwise. As of May 9, 2012, the market price of the Company&rsquo;s common stock was&nbsp;$10.15.&nbsp;
Shareholders who do not elect to participate in the Plan will receive dividends, as declared and paid, by check.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company is listed on the NASDAQ
Capital Market under the symbol &ldquo;GLBZ.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Reference is made to the &ldquo;Explanation
of our Dividend Reinvestment and Stock Purchase Plan&rdquo; section, which is considered part of this Prospectus, for further information
on the Plan.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">See &ldquo;Risk Factors&rdquo; beginning
on page 2 for a discussion of various factors which shareholders should consider about an investment in our common stock.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR
ANY OTHER REGULATORY BODY HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS.
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">The date of this Prospectus is May 11, 2012.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman; margin-top: 0pt; text-align: center; margin-bottom: 0pt">TABLE OF CONTENTS</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="width: 94%; font-weight: bold; text-decoration: none">Prospectus Summary</TD>
    <TD STYLE="width: 6%; font-weight: bold; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: none">Risk Factors</TD>
    <TD STYLE="font-weight: bold; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-decoration: none">Cautionary Statement Regarding Forward-Looking Statements</TD>
    <TD STYLE="font-weight: bold; text-align: right">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: none">Explanation of our Dividend Reinvestment and Stock Purchase Plan</TD>
    <TD STYLE="font-weight: bold; text-align: right">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-decoration: none">Use of Proceeds</TD>
    <TD STYLE="font-weight: bold; text-align: right">10</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: none">Commission Position on Limitation of Liability</TD>
    <TD STYLE="font-weight: bold; text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-decoration: none">Legal Matters</TD>
    <TD STYLE="font-weight: bold; text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: none">Information Incorporated by Reference</TD>
    <TD STYLE="font-weight: bold; text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-decoration: none">Where You Can Find More Information</TD>
    <TD STYLE="font-weight: bold; text-align: right">12</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should read this Prospectus
and the information and documents incorporated by reference carefully. Such documents contain important information you should
consider when making your investment decision. See &ldquo;Information Incorporated by Reference&rdquo; on page 11. You should
rely only on the information provided in this Prospectus or documents incorporated by reference in this Prospectus. We have not
authorized anyone to provide you with different information. Shares of our Common Stock are being offered only in jurisdictions
in which offers and sales are permitted. The information contained in this Prospectus is accurate only as of the date of this
Prospectus, regardless of the time of delivery of this Prospectus or of any sale of our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">Prospectus Summary</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This summary highlights selected
information from this Prospectus and may not contain all of the information that is important to you. To understand the terms of
the securities we are offering, you should carefully read this document with any attached Prospectus supplement. You should also
read the documents to which we have referred you in &ldquo;Where You Can Find More Information&rdquo; on page 12 for additional
information about us and our financial statements.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>The Company</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in; text-align: justify">Glen Burnie Bancorp (&ldquo;we&rdquo; or the &ldquo;Company&rdquo;)
is a bank holding company organized in 1990 under the laws of the State of Maryland. The Company owns all the outstanding shares
of capital stock of The Bank of Glen Burnie (the &ldquo;Bank&rdquo;), a commercial bank organized in 1949 under the laws of the
State of Maryland, serving northern Anne Arundel County and surrounding areas from its main office and seven branch locations.
The Bank is engaged in the commercial and retail banking business as authorized by the banking statutes of the State of Maryland,
including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships and
corporations. The Bank&rsquo;s real estate financing consists of residential first and second mortgage loans, home equity lines
of credit and commercial mortgage loans. Commercial lending consists of both secured and unsecured loans. The Bank also originates
automobile loans through arrangements with local automobile dealers. The Bank&rsquo;s deposits are insured up to applicable limits
by the Federal Deposit Insurance Corporation (&ldquo;FDIC&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in; text-align: justify">The Company&rsquo;s principal executive office is located
at 101 Crain Highway, S.E., Glen Burnie, Maryland 21061. Its telephone number at such office is (410) 766-3300.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>The Offering and Plan</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in; text-align: justify">The securities offered hereby are a maximum of 150,000
shares of the Company&rsquo;s common stock, par value $1.00 per share (&ldquo;Common Stock&rdquo;). The purpose of the offering
is to provide holders of the Company&rsquo;s common stock with a simple and convenient method of investing cash dividends in additional
shares of common stock, without incurring brokerage commissions, through the Company&rsquo;s Dividend Reinvestment and Stock Purchase
Plan (the &ldquo;Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in; text-align: justify">Detailed information concerning the Plan is provided
under &ldquo;Explanation of our Dividend Reinvestment and Stock Purchase Plan,&rdquo; which should be reviewed carefully.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B>Use of Proceeds</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in; text-align: justify">Shares purchased pursuant to the Plan will be issued
by the Company. The proceeds of such sales will be added to the general funds of the Company and will be available for its general
corporate purposes, including working capital requirements and contributions to the Bank to support its operations, growth and
expansion.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman; margin: 0pt 0; text-transform: uppercase; text-align: left"><FONT STYLE="text-transform: none">Risk
Factors</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Purchasers of our Common Stock should
consider carefully, in addition to the other information contained in or incorporated by reference into this Prospectus or any
supplement, the risk factors set forth in this Prospectus and in our reports filed with the Securities and Exchange Commission
(SEC).</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">Risk Factors</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Before you decide to invest,
you should consider carefully the risks described below. Any or all of those factors, or others not mentioned, could affect our
business or our prospects. The risks and uncertainties we have described in our filings are not the only ones facing our Company.
Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our business
operations</I>. <I>If any of the risks actually occur, our business could be materially adversely affected. In such case, the trading
price of our Common Stock could decline, and you may lose all or part of your investment. </I></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>In addition, you should carefully
consider the information incorporated by reference and the information that we file with the SEC from time to time. The information
in this Prospectus is complete and accurate as of the date on the front cover of this Prospectus, but the information may change
after such date. </I></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>Risk Factors
Relating to our Business Generally</B></FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>Fluctuations in interest rates could reduce the
Bank&rsquo;s profitability and affect the value of its assets.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Like other financial institutions,
the Bank is subject to interest rate risk. The Company&rsquo;s income and cash flow depend to a great extent on the difference
between the interest rates earned on the Bank&rsquo;s interest-earning assets such as loans and investment securities, and the
interest rates paid on the Bank&rsquo;s interest-bearing liabilities such as deposits and borrowings. These rates are highly sensitive
to many factors that are beyond the Company&rsquo;s control, including general economic conditions and the policies of various
government agencies, in particular the Federal Reserve Bank. Changes in interest rates will influence the origination of loans,
the prepayment speed of loans, the purchase of investments, the generation of deposits and the rates received on loans and investment
securities and paid on deposits or other sources of funding. The impact of these changes may be magnified if the Company does not
effectively manage the relative sensitivity of its assets and liabilities to changes in market interest rates. Fluctuations in
these areas may adversely affect the Company and its shareholders.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>The Bank is subject to credit risks relating to
its loan portfolio.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Bank has certain lending policies
and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves
these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with
frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies, and nonperforming and
potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations and economic
conditions.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Bank maintains an independent
loan review department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented
to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders
and credit personnel, as well as the Bank&rsquo;s policies and procedures.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In the financial services industry,
there is always a risk that certain borrowers may not repay borrowings. The Bank&rsquo;s allowance for credit losses may not be
sufficient to cover the loan losses that it may actually incur. If the Bank experiences defaults by borrowers in any of its businesses,
the Bank&rsquo;s earnings could be negatively affected. Changes in local economic conditions could adversely affect credit quality,
particularly in its local business loan portfolio. Changes in national economic conditions could also adversely affect the quality
of its loan portfolio.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Commercial and commercial real estate
loans generally involve higher credit risks than residential real estate and consumer loans. Because payments on loans secured
by commercial real estate or equipment are often dependent upon the successful operation and management of the underlying assets,
repayment of such loans may be influenced to a great extent by conditions in the market or the economy. The Bank seeks to minimize
these risks through its underwriting standards. The Bank obtains financial information and performs credit risk analysis on its
customers. Underwriting standards are designed to promote relationship banking rather than transactional banking. Most commercial
and industrial loans are secured by the assets being financed or other business assets; however, some loans may be made on an unsecured
basis. The Bank&rsquo;s credit policy sets different maximum exposure limits both by business sector and its current and historical
relationship and previous experience with each customer.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">The Bank offers both fixed-rate and adjustable-rate consumer
mortgage loans secured by properties, substantially all of which are located in the Bank&rsquo;s primary market area. Adjustable-rate
mortgage loans help reduce the Bank&rsquo;s exposure to changes in interest rates; however, during periods of rising interest rates,
the risk of default on adjustable-rate mortgage loans may increase as a result of repricing and the increased payments required
from the borrower.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">Consumer loans are primarily all other non-real estate
loans to individuals in the Bank&rsquo;s regional market area. Consumer loans can entail risk, particularly in the case of loans
that are unsecured or secured by rapidly depreciating assets. In these cases, any repossessed collateral may not provide an adequate
source of repayment of the outstanding loan balance. The remaining deficiency often does not warrant further substantial collection
efforts against the borrower beyond obtaining a deficiency judgment. In addition, consumer loan collections are dependent on the
borrower&rsquo;s continuing financial stability, and thus are more likely to be adversely affected by job loss, divorce, illness,
or personal bankruptcy.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B><I>A prolonged economic downturn, especially one affecting our market areas,
could reduce our customer base, our level of deposits and demand for financial products, such as loans.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We are in uncertain economic times,
including uncertainty with respect to financial markets that have been volatile as a result of sub-prime mortgage fraud, a European
sovereign debt crisis, a weak housing market and a relatively high level of unemployment, among other factors. While the Bank&rsquo;s
conservative lending policies have prevented the Bank from exposure to the credit issues affecting the sub-prime residential mortgage
market, the full impact of the current credit crisis on the economy and the Bank&rsquo;s market are unknown. Our success significantly
depends upon growth in population, income levels, deposits and housing starts in the markets that we serve. If the communities
in which we operate do not grow, or if prevailing economic conditions locally or nationally are unfavorable, our business growth
plans may not be achieved. A prolonged economic downturn would likely contribute to the deterioration of the credit quality of
our loan portfolio and reduce our level of customer deposits, which in turn would hurt our business.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the current economic downturn
in the economy as a whole, or in our market areas, continues for a prolonged period, borrowers may be less likely to repay their
loans. Moreover, the value of real estate or other collateral that may secure our loans could be adversely affected. Unlike many
larger institutions, we are not able to spread the risks of unfavorable local economic conditions across a large number of diversified
economies and geographic locations. A prolonged economic downturn could, therefore, result in losses that could materially and
adversely affect our business.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>The financial services industry is very competitive.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Bank faces competition in attracting
and retaining deposits, making loans, and providing other financial services throughout the Bank&rsquo;s market area. The Bank&rsquo;s
competitors include other community banks, larger banking institutions, and wide range of other financial institutions such as
credit unions, government sponsored enterprises, mutual fund companies, insurance companies and other non-bank enterprises. Many
of these competitors have substantially greater resources than the Company. If the Bank is unable to compete effectively, it will
lose market share and income from deposits, loans, and other products may be reduced.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>Legislative or regulatory changes or actions, or
significant litigation, could adversely impact the Company or the businesses in which the Company is engaged.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company and the Bank are subject
to extensive state and federal regulation, supervision and legislation that govern almost all aspects of operations. Law and regulations
may change from time to time and are primarily intended for the protection of consumers, depositors and the deposit insurance funds.
The current credit crisis resulting from issues affecting the sub-prime residential mortgage market may lead to additional legislation
and regulatory actions, as well. The impact of any changes to laws and regulations or other actions by regulatory agencies may
negatively impact the Company or its ability to increase the value of its business. Additionally, actions by regulatory agencies
or significant litigation against the Company or the Bank may cause the Company to devote significant time and resources to defending
itself and may lead to penalties that materially affect the Company and its shareholders. Future changes in the laws or regulations
or their interpretations or enforcement could be materially adverse to the Company and its stockholders.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>The Company is subject to environmental liability
risk associated with lending activities.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">A portion of the Bank&rsquo;s loan
portfolio is secured by real property. During the ordinary course of business, the Bank may foreclose on and take title to properties
securing certain loans. In doing so, there is a risk that hazardous or toxic substances could be found on these properties. If
hazardous or toxic substances are found, the Company may be liable for remediation costs, as well as for personal injury and property
damage. Environmental laws may require the Company to incur substantial expenses and may materially reduce the affected property&rsquo;s
value or limit the Company&rsquo;s ability to use or sell the affected property. In addition, future laws or more stringent interpretations
or enforcement policies with respect to existing laws may increase the Company&rsquo;s exposure to environmental liability. Although
the Company has policies and procedures to perform an environmental review before initiating any foreclosure action on real property,
these reviews may not be sufficient to detect all potential environmental hazards. The remediation costs and any other financial
liabilities associated with an environmental hazard could have a material adverse effect on the Company&rsquo;s financial condition
and results of operations.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>The Bank&rsquo;s information systems may experience
an interruption or breach in security.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Bank relies heavily on communications
and information systems to conduct its business. Any failure, interruption or breach in security of these systems could result
in failures or disruptions in the Bank&rsquo;s customer relationship management, general ledger, deposit, loan or other system.
While the Bank has policies and procedures designed to prevent or limit the effect of the failure, interruption or security breach
of its information systems, there can be no assurance that any such failures, interruptions or security breaches will not occur,
or if they do occur, that they will be adequately addressed. The occurrence of any failures, interruptions or security breaches
of the Bank&rsquo;s information systems could damage the Bank&rsquo;s reputation, result in a loss of customer business, subject
the Bank to additional regulatory scrutiny, or expose the Bank to civil litigation and possible financial liability, any of which
could have a material adverse effect on the Company&rsquo;s financial condition and results of operation.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>Financial services companies depend on the accuracy
and completeness of information about customers and counterparties.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In deciding whether to extend credit
or enter into other transactions, the Bank may rely on information furnished by or on behalf of customers and counterparties, including
financial statements, credit reports and other financial information. The Bank may also rely on representations of those customers,
counterparties or other third parties, such as independent auditors, as to the accuracy and completeness of that information. Reliance
on inaccurate or misleading financial statements, credit reports or other financial information could have a material adverse impact
on the Bank&rsquo;s business and, in turn, the Company&rsquo;s financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>The inability to hire or retain certain key professionals,
management and staff could adversely affect the Company&rsquo;s revenues and net income.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Bank relies on key personnel
to manage and operate our business, including major revenue generating functions such as our loan and deposit portfolios. The loss
of key staff may adversely affect the Bank&rsquo;s ability to maintain and mange these portfolios effectively, which could negatively
affect the Company&rsquo;s revenues. In addition, loss of key personnel could result in increased recruiting and hiring expenses,
which could cause a decrease in the Company&rsquo;s net income.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>Severe weather, acts of war and terrorism and other
adverse external events could significantly impact the Company&rsquo;s business.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Severe weather, acts of war or terrorism
and other adverse external events could have a significant impact on the Bank&rsquo;s ability to conduct business. Such events
could affect the stability of the Bank&rsquo;s deposit base, impair the ability of borrowers to repay outstanding loans, impair
the value of collateral securing loans, cause significant property damage, result in loss of revenue and/or cause the Company to
incur additional expenses. The occurrence of any such event could have a material adverse effect on the Bank&rsquo;s business,
which, in turn, could have a material adverse effect on the Company&rsquo;s financial condition and results of operations. The
close proximity of the all of the Company&rsquo;s branch locations to Washington, D.C. may put it at an especially high risk of
being impacted by terrorism.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B><I>The Company may not be able to pay dividends.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company intends to pay dividends
of 30% to 40% of its profits for each quarter. The Company's ability to pay dividends to stockholders depends on its ability to
receive dividends from the Bank. Payment of dividends by the Bank to the Company and by the Company to its stockholders, however,
is subject to their respective financial conditions and to regulation. Federal and state banking regulations prohibit dividend
payments unless the Company and the Bank have sufficient net retained earnings and capital as determined by the regulators. The
Company does not believe that these restrictions will materially limit its ability to pay dividends. There is no assurance that
either the Bank or the Company will be legally or financially able to pay any specified amount of dividends in the future.</P>

<P STYLE="font: 10pt Courier New; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>The price per share at the
time a dividend is declared may be higher than the price per share when the shares are actually issued.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company cannot assure investors
that the market price of the Common Stock will stay at the level at which it is trading at the time the dividend reinvestment price
is calculated pursuant to the Plan. Under the Plan, the value of the shares to be issued in lieu of cash dividends is determined
based on the higher of (a) 95% of the market price at the time a dividend is declared or (b) the stock&rsquo;s par value ($1.00
per share). By the time the dividend is actually paid, the market price at which the Company&rsquo;s stock is selling may have
declined from the dividend reinvestment price. Thus, the number of shares issued to a shareholder may be less than the number of
shares that would have been issued had such number been based on the sales price of the shares at the time the dividend is paid,
and the market value of the shares actually issued may be less than the amount of cash that would have been received had the dividend
been paid in cash.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>Risk Factors Relating to the Company&rsquo;s
Articles of Incorporation and the Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B><I>The liability of our directors is limited.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our Articles of Incorporation limit
the liability of directors to the maximum extent permitted by Maryland law.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>The trading volume in the Common Stock is less
than that of other larger services companies.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Although the Common Stock is listed
for trading on the Nasdaq Capital Market, the trading volume in the Common Stock is less than that of other larger financial services
companies. A public trading market having the desired characteristics of depth, liquidity and orderliness depends on the presence
in the marketplace of willing buyers and sellers of the Common Stock at any given time. This presence depends on the individual
decisions of investors and general economic and market conditions over which the Company has no control. Given the lower trading
volume of the Common Stock, significant sales of the Common Stock, or the expectation of these sales, could negatively impact the
Company&rsquo;s stock price.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B><I>It may be difficult for a third party to acquire the Company, which
could affect the price of the Common Stock.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our charter and Bylaws contain certain
anti-takeover provisions pursuant to the Maryland General Corporation Law. In addition, the Company has a shareholders rights plan
that could make it more difficult to acquire the Company. As a result, we may be a less attractive target to a potential acquirer
who otherwise may be willing to pay a premium for our common stock above its market price. These provisions effectively inhibit
a non-negotiated merger or other business combination, even if doing so would be perceived to be beneficial to the Company&rsquo;s
stockholders and could adversely affect the market price of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">Cautionary Statement
Regarding Forward-Looking Statements</P>

<P STYLE="font: bold 10pt Times New Roman Bold; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have made forward-looking statements
(as such term is defined in the Private Securities Litigation Reform Act of 1995) in this document and in documents that are incorporated
by reference in this document that are subject to risks and uncertainties. We caution you to be aware of the speculative nature
of forward-looking statements. Forward-looking statements include the information concerning possible or assumed future results
of our operations. Also, statements including words such as &ldquo;believes,&rdquo; &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;estimates,&rdquo; or similar expressions are forward-looking statements. These
statements reflect our good faith belief based on current expectations, estimates, and projections about (among other things) the
industry and the markets in which we operate, but they are not guarantees of future performance. Purchasers of shares offered hereby
should note that many factors, some of which are discussed elsewhere in this document and in the documents incorporated by reference
in this document, could affect our future financial results and could cause actual results to differ materially from those expressed
in forward-looking statements contained or incorporated by reference in this document. Important factors that could cause actual
results to differ materially from the expectations reflected in the forward-looking statements in this Prospectus include, among
others, the factors set forth under the caption &ldquo;Risk Factors,&rdquo; general economic, business and market conditions, changes
in laws, and increased competitive pressure. We can give no assurances that the actual results we anticipate will be realized or,
even if substantially realized, that they will have the expected consequences to, or effects on, us or our business or operations.
Except as required by applicable laws, we do not intend to publish updates or revisions of any forward-looking statements we make
to reflect new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>EXPLANATION OF OUR DIVIDEND REINVESTMENT </B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>AND STOCK PURCHASE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following questions and answers
explain the Plan. The Plan is contained in a written Plan instrument, a copy of which is maintained at the offices of the Company.
In the event of any inconsistency between that Plan instrument and this explanation, the Plan instrument will control. The Plan
does not represent a change in our dividend policy, which will continue to depend upon earnings, financial and regulatory requirements
and other factors, and which will be determined by our Board of Directors from time to time. Shareholders who do not wish to participate
in the Plan will continue to receive cash dividends when and as declared. We cannot provide any assurance whether, or at what rate,
we will continue to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Purpose</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>1.</I></TD><TD STYLE="text-align: justify"><I>What is the purpose of the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of the Plan is to provide
the Company&rsquo;s shareholders with a convenient and economical method of investing cash dividends payable on their shares of
Common Stock in additional shares of Common Stock. The amount of the cash dividends which will be retained by the Company in exchange
for the issuance of the additional shares will be used by the Company for its general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Advantages</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>2.</I></TD><TD STYLE="text-align: justify"><I>What are the advantages of the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">Participation in the Plan offers a number of advantages:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Plan enables the shareholders to acquire additional shares of Common Stock at a discount of
5% off the last sale price on the day prior to the dividend declaration date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Plan enables the shareholders to acquire additional shares of Common Stock without the payment
of brokerage commissions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Plan provides shareholders of the Company with the opportunity to reinvest their dividends
automatically in additional shares of Common Stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

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    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Participants&rsquo; funds will be fully utilized through the crediting of fractional shares of
stock to their accounts under the Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Participants will receive periodic statements of the transactions for their accounts under the
Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Administration</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>3.</I></TD><TD STYLE="text-align: justify"><I>Who administers the Plan for participants?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company administers the Plan
as agent for the participants (the &ldquo;Plan Administrator&rdquo;). In such capacity, the Plan Administrator will send periodic
statements of account to participants and perform other administrative duties relating to the Plan. Any notices, questions or other
communications relating to the Plan should include the participant&rsquo;s account number and should be addressed as follows: President,
Glen Burnie Bancorp, 101 Crain Highway, S.E., Glen Burnie, Maryland 21061.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Participation</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>4.</I></TD><TD STYLE="text-align: justify"><I>Who is eligible to participate in the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">All holders of Common Stock of the
Company will be eligible to participate in the Plan. However, shareholders who reside in jurisdictions in which it is unlawful
for the Company to permit their participation are not eligible to participate in the Plan. Furthermore, the Company may refuse
to offer the Plan to various shareholders of the Company for any reason, including for the reason that the state in which the shareholder
resides may require registration, qualification or exemption of the common stock to be issued under the Plan, or registration or
qualification of the Company or any of its officers or employees as a broker, dealer, salesman or agent.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Holders of shares of Common Stock
in &ldquo;street name&rdquo; through a broker are not eligible to participate in the Plan with respect to those shares. Any such
holder who desires to participate in the Plan should contact his or her broker and arrange to have such shares registered in the
shareholder&rsquo;s name as record holder.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>5.</I></TD><TD STYLE="text-align: justify"><I>How does an eligible shareholder become a participant in the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Any eligible shareholder may join
the Plan at any time by completing and signing AN authorization form and returning it to the Plan Administrator. Authorization
forms may be obtained at any time from the Plan Administrator. A properly completed authorization form must be received before
the date a dividend is declared by the Company&rsquo;s Board of Directors in order for that dividend to be reinvested in shares
of Common Stock under the Plan.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>6.</I></TD><TD STYLE="text-align: justify"><I>Must a shareholder authorize dividend reinvestment on a minimum number of shares?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">No. There is no minimum number of
shares required for participation in the Plan. However, a shareholder may participate in the Plan only with respect to all of his
or her shares of the Company&rsquo;s Common Stock; that is, a shareholder may not participate in the Plan with respect to fewer
than all of his or her shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Purchases</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>7.</I></TD><TD STYLE="text-align: justify"><I>How are shares of Common Stock acquired under the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Cash dividends payable on shares
of Common Stock held by persons participating in the Plan will be retained by the Company, and the Company will issue shares of
Common Stock for such cash dividends.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>8.</I></TD><TD STYLE="text-align: justify"><I>What will be the price of shares purchased under the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Shares of Common Stock will be purchased
directly from the Company at a purchase price per share equal to 95% of last sale price per share prior to the dividend declaration
date.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>9.</I></TD><TD STYLE="text-align: justify"><I>How many shares will be purchased for participants?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The number of shares that will be
purchased for each participant will depend upon the amount of cash dividends to be reinvested for the participant. Each participant&rsquo;s
account will be credited with the whole and fractional shares equal to the pro rata amount invested for the respective participant,
divided by the purchase price per share.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>10.</I></TD><TD STYLE="text-align: justify"><I>Will dividends on shares in participants&rsquo; accounts be used to purchase shares?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Yes. Dividends subsequently paid
on shares that have been purchased under the Plan will also be used to purchase shares of Common Stock, thereby compounding each
participant&rsquo;s investment. Fractional shares held under the Plan for a participant&rsquo;s account will receive dividends
in the same way as a whole share, but in proportion to the size of the fractional share.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>11.</I></TD><TD STYLE="text-align: justify"><I>Are there any expenses to participants in connection with purchases under the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company will pay all costs of
administration of the Plan. No brokerage fees will be incurred pursuant to purchases of share of Common Stock made under the Plan.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Reports to Participants</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>12.</I></TD><TD STYLE="text-align: justify"><I>What reports will participants in the Plan receive?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Each participant will receive periodic
statements of account showing the following: the amount of dividends invested for the participant; the number of shares of stock
purchased; the price per share; and the total number of shares accumulated for the participant under the Plan. These statements
will serve as a record of the transactions for the participant under the Plan and should be retained for income tax purposes. Each
participant will also receive the same communications sent to all other persons holding shares of Common Stock, as well as Internal
Revenue Service information for reporting dividend income received.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>13.</I></TD><TD STYLE="text-align: justify"><I>How will a participant&rsquo;s shares be voted at meetings of shareholders?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">All shares issued to a participant
under the Plan will be registered in the name of the participant and can be voted directly or by proxy in the same manner as the
participant votes all other shares registered in his or her name.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Federal Income Tax Information</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>14.</I></TD><TD STYLE="text-align: justify"><I>What are the federal income tax consequences of participating in the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We believe that the following is
an accurate summary of the material federal income tax consequences as of the date of this Prospectus:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Cash dividends reinvested under the Plan will be taxable as having been received by participants,
even though participants have not actually received them in cash.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Each participant will receive an annual statement from the Plan Administrator indicating the amount
reported to the Internal Revenue Service of reinvested dividends to be treated as dividend income. The tax basis per share will
be the price at which the shares are credited to a participant&rsquo;s account.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">In general, if a participant fails to furnish valid taxpayer identification number to the Plan
Administrator, the participant&rsquo;s dividend distributions will be subject to U.S. backup withholding. The dividends, less the
amount of federal income tax required to be withheld, will then be reinvested.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">These rules may not be applicable to certain participants in the Plan, such as tax-exempt entities
(e.g., pension funds) and foreign shareholders. These particular participants should consult their own tax advisors concerning
the tax consequences applicable to their situations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">In the case of those foreign shareholders whose dividends are subject to U.S. federal income tax
withholding, the amount of tax to be withheld will be deducted from the amount of the dividend and only the remaining amount of
the dividend will be reinvested.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 27pt">The foregoing is only an outline of
our understanding of some of the applicable federal income tax provisions. The outline is general in nature and does not purport
to cover every situation. Moreover, it does not include a discussion of state and local income tax consequences of participation
in the Plan. <B><I>For specific information on the tax consequences of your participation in the Plan, including any future changes
in applicable law or interpretation thereof, you should consult your own tax advisor.</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Withdrawal of Shares from Plan Accounts</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>15.</I></TD><TD STYLE="text-align: justify"><I>How may a participant withdraw shares purchased under the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">A participant may withdraw all or
a portion of the whole shares of Common Stock credited to his or her account by notifying the Plan Administrator in writing to
that effect and by specifying in the notice the number of shares to be withdrawn. Certificates for whole shares of Common Stock
so withdrawn from the Plan will be mailed to the participant&rsquo;s address of record. No certificates for fractional shares will
be issued under any circumstance. Any notice of withdrawal received from a participant after a dividend record date will not be
effective until the participant&rsquo;s dividends paid on that date have been reinvested and the shares credited to the participant&rsquo;s
account.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Dividends on shares withdrawn from
a participant&rsquo;s account will continue to be reinvested unless the participant otherwise notifies the Plan Administrator in
writing. A participant who withdraws all of the whole and fractional shares from his or her account will be treated as having terminated
participation in the Plan.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Termination of Participation</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>16.</I></TD><TD STYLE="text-align: justify"><I>How does a participant terminate participation in the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Participation in the Plan is entirely
voluntary, and a participant may request to withdraw from the Plan at any time by notifying the Plan Administrator in writing.
Upon termination of Plan participation, the participant will receive certificates for full shares of common stock then held in
his account. Any fractional shares in the participant&rsquo;s account shall be redeemed by the Company for cash in an amount equal
to the fraction of a whole share times the price per share of Common Stock determined under the provisions of the Plan at the last
dividend declaration date prior to the date of withdrawal.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the request to withdraw is received
on or after the dividend declaration date for a dividend payment, any dividend paid on the corresponding dividend payment date
will be credited to the withdrawing participant&rsquo;s account as stock in accordance with the provisions of the Plan. The request
to withdraw will then be processed promptly following such dividend payment date. Thereafter, all dividends will be paid in cash
(or in stock dividends if so declared by the Board of Directors on all Common Stock) to the shareholder who withdraws from the
Plan. A shareholder may elect again to become a participant at any time subsequent to withdrawal from the Plan.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If a participant disposes of any
or all of his shares of Common Stock registered in his name other than shares credited to the participant&rsquo;s account under
the Plan, the shares of Common Stock credited under the Plan will continue to be administered under the provisions of the Plan
until the participant withdraws from the Plan.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Certificates for Shares</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>17.</I></TD><TD STYLE="text-align: justify"><I>Will certificates be issued for shares purchased under the Plan?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Generally not. Certificates for
shares purchased for a participant&rsquo;s account under the Plan will not be issued unless:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the participant requests in writing that the Plan Administrator issue a certificate;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the participant withdraws shares from his or her Plan account;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the participant terminates his or her participation in the Plan; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the Company terminates the Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Requests for certificates
will be handled by the Plan Administrator without charge. Any remaining whole or fractional shares will continue to be held in
the participant&rsquo;s account. No certificate for a fractional share will be issued; under the Plan, dividends on a fractional
share will be credited to a participant&rsquo;s account. Withdrawal of shares in the form of a certificate does not affect dividend
reinvestment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><I>18.&nbsp;&nbsp;In
whose name will shares be registered when certificates are issued to participants?</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Certificates will
be issued in the name or names that appear on the participant&rsquo;s account under the Plan. If a participant requests a certificate
to be registered in a name other than that shown on the account, the request must be signed by all persons in whose names the account
appears, with signatures Medallion guaranteed and accompanied by such other documentation as the Plan Administrator may require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Other Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><I>19.&nbsp;&nbsp;What
are the responsibilities of the Plan Administrator under the Plan?</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Except as set forth
in the Plan, the Plan Administrator has no duties, responsibilities or liabilities with respect to the Plan. The Plan Administrator
does not have any responsibility beyond the exercise of ordinary care for any reasonable and prudent actions taken or omitted pursuant
to the Plan including, without limitation, any claim for liability arising out of failure to terminate a participant&rsquo;s account
upon such participant&rsquo;s death or adjudicated incompetency prior to receipt of notice in writing of such death or adjudicated
incompetency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><I>20.&nbsp;&nbsp;Who
bears the risk of market price fluctuations in the Common Stock?</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">You do.&nbsp;&nbsp;Your
investment in shares of Common Stock under the Plan will be no different from an investment in directly-held shares of the Company&rsquo;s
Common Stock.&nbsp;&nbsp;You will bear the risk of loss and may realize the benefits of gain from market price changes with respect
to all shares held by you in the Plan or otherwise.&nbsp;&nbsp;The shares are not deposits and are not insured by the FDIC or any
other government agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><I>21.&nbsp;&nbsp;May
the Plan be modified or terminated?</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Yes. Although the
Company intends to continue the Plan in the future, the Board of Directors reserves the right to amend, suspend or modify the Plan
at any time. However, the Plan cannot be permanently terminated unless the shareholders at a regular or special meeting vote to
terminate the Plan. Written notice of any amendment, suspension, modification or termination will be sent to the participants within
30 days following any such action. The Company also may adopt reasonable procedures for administration of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><I>22.&nbsp;&nbsp;Who
do I contact if I have questions about the Plan?</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Plan Administrator
will answer any questions you have about buying or selling our Common Stock through the Plan or about any other Plan services.
You may contact the Plan Administrator in writing at the address specified above in Question 3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Use of Proceeds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We do not know the number of shares of
Common Stock that will be purchased under the Plan or the prices at which such shares will be purchased. We intend to add proceeds
we receive from the sales to our general funds to be used for general corporate purposes, including, without limitation, investments
in and advances to the Bank. The amounts and timing of the application of proceeds will depend upon our and the Bank&rsquo;s funding
requirements and the availability of other funds.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Commission
Position on Limitation of Liability</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the registrant pursuant
to the foregoing provisions, the registrant has been informed that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is therefore unenforceable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Legal Matters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The validity of the shares of Common Stock
being offered for sale hereby has been passed on for us by Neuberger, Quinn, Gielen, Rubin &amp; Gibber, P.A., Baltimore, Maryland.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Experts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">TGM Group LLC, independent registered public
accounting firm, has audited our consolidated financial statements and schedules as of December 31, 2010 and 2011 and for each
of the three years in the period ended December 31, 2011, as set forth in their reports. We have incorporated our financial statements
and schedules by reference into this registration statement in reliance on TGM Group LLC&rsquo;s reports, given on their authority
as experts in accounting and auditing.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Information
Incorporated by Reference</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The SEC allows us to provide information
about our business and other important information to you by &ldquo;incorporating by reference&rdquo; the information we file with
the SEC, which means that we can disclose the information to you by referring in this Prospectus to the documents we file with
the SEC. Under the SEC&rsquo;s regulations, any statement contained in a document incorporated by reference in this Prospectus
is automatically updated and superseded by any information contained in this Prospectus, or in any subsequently filed document
of the types described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We incorporate into this Prospectus by
reference the following documents filed by us with the SEC, each of which should be considered an important part of this Prospectus:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our Annual Report on Form 10-K for the fiscal year ended December 31, 2011;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The description of our Common Stock contained in our Registration Statement on Form 8-A, as amended,
filed under Section 12 of the Exchange Act..</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We also incorporate by reference any filings
we make with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (other than any information in such filings which,
as permitted by SEC rules and regulations, is not deemed &ldquo;filed&rdquo;) after the initial filing of the registration statement
of which this Prospectus forms a part and before the expiration or withdrawal of the registration statement of which this Prospectus
forms a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">You may request a copy of each of our filings
at no cost, by writing or telephoning us at the following address or telephone number: Glen Burnie Bancorp, 101 Crain Highway,
S.E., Glen Burnie, Maryland 21061, Attn: Shareholder Relations, (410) 766-3300.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Exhibits to a document will not be provided
unless they are specifically incorporated by reference in that document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">You should rely only on the information
contained in this Prospectus or any supplement. We have not authorized any other person to provide you with different information.
If anyone provides you with different or inconsistent information, you should not rely on it. We are not making an offer to sell
these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information in this
Prospectus or any supplement is accurate as of any date other than the date on the front of those documents. Our business, financial
condition, results of operations and prospects may have changed since that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The information in this Prospectus or any
supplement may not contain all of the information that may be important to you. You should read the entire Prospectus or any supplement,
as well as the documents incorporated by reference in the Prospectus or any supplement, before making an investment decision.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Where You
Can Find More Information</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We file annual, quarterly, and current
reports, proxy statements and other information with the SEC. You can inspect, read and copy these reports, proxy statements and
other information at the public reference facilities that the SEC maintains at 100 F Street N.E., Room 1580, Washington, D.C. 20549.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">You can also obtain copies of these materials
from the public reference facilities of the SEC at prescribed rates. You can obtain information on the operation of the public
reference facilities by calling the SEC at 1-800-SEC-0330. Our SEC filings are also available to you free of charge at the SEC&rsquo;s
web site at <U>http://www.sec.gov</U>. Information about us may be obtained from our website <FONT STYLE="color: Black"><U>www.thebankofglenburnie.com.
</U></FONT>Copies of our Annual Report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, are available
free of charge on the website as soon as they are filed with the SEC through a link to the SEC&rsquo;s EDGAR reporting system.
Simply select the &ldquo;Investor Relations&rdquo; menu item, then click on the &ldquo;All SEC Filings&rdquo; link.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We have filed with the SEC a registration
statement on Form S-3 under the Securities Act of 1933, as amended, to register with the SEC the securities described herein. This
Prospectus, which is a part of the registration statement, does not contain all of the information set forth in the registration
statement. For further information about us and our securities, you should refer to the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Part II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Information
Not Required in Prospectus</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 14.&#9;Other Expenses of Issuance and Distribution</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following table sets forth the fees
and expenses in connection with the issuance and distribution of the securities being registered hereunder. All such fees and expenses
shall be borne by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif; margin-left: 1in">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 80%; text-align: left">SEC Registration Fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 17%; text-align: right">170.18</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Legal Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Accounting Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Miscellaneous</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,470.18</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All of the above expenses, except the SEC registration fee,
are estimates.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 15. &#9;Indemnification of Directors and Officers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Maryland law requires us (unless our charter
provides otherwise, which our charter does not) to indemnify a director or officer who has been successful, on the merits or otherwise,
in the defense of any proceeding to which he is made a party by reason of his service in that capacity. Maryland law permits us
to, and our bylaws require us to, indemnify our present and former directors and officers against judgments, penalties, fines,
settlements, and reasonable expenses actually incurred by them in connection with any proceeding to which they may be made a party
by reason of their service in those or other capacities unless it is established that:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the act or omission of the director or officer was material to the matter giving rise to the proceeding
and (i)&nbsp;was committed in bad faith or (ii)&nbsp;was the result of active and deliberate dishonesty,</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the director or officer actually received an improper personal benefit in money, property or services,
or</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">in the case of any criminal proceeding, the director or officer had reasonable cause to believe
that the act or omission was unlawful.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A court may order indemnification if it
determines that the director or officer is fairly and reasonably entitled to indemnification, even though the director or officer
did not meet the prescribed standard of conduct or was adjudged liable on the basis that personal benefit was improperly received.
However, indemnification for an adverse judgment in a suit by us or in our right, or for a judgment of liability on the basis that
personal benefit was improperly received, is limited to expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, Maryland law permits us to,
and our bylaws require us to, advance reasonable expenses to a director or officer upon receipt of (a)&nbsp;a written affirmation
by the director or officer of his good faith belief that he has met the standard of conduct necessary for indemnification and (b)&nbsp;a
written undertaking by him or on his behalf to repay the amount paid or reimbursed if it is ultimately determined that the standard
of conduct was not met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Our bylaws also authorize our board of
directors, to the maximum extent permitted by Maryland law, to indemnify any employee or agent other than a director or officer
against any claim or liability arising from that status and to pay or reimburse their reasonable expenses in advance of final disposition
of a proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Company also maintains director and
officer insurance coverage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 16. &#9;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; tab-stops: .25in">Exhibit</TD>
    <TD STYLE="width: 3%; tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="width: 88%; tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">No.</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">5.1</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Opinion of Neuberger, Quinn, Gielen, Rubin &amp; Gibber, P.A.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">23.1</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Consent of TGM Group LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">23.2</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Consent of Neuberger, Quinn, Gielen, Rubin &amp; Gibber, P.A. (included in exhibit 5.1)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">24.1</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Power of Attorney (contained on signature page)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item&nbsp;17. &#9;Undertakings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">1. To file, during
any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.4in">(i)</TD><TD STYLE="text-align: justify">To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.4in">(ii)</TD><TD STYLE="text-align: justify">To reflect in the prospectus any facts or events arising after the effective date of the registration
statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in the
volume of securities offered (if the total dollar value of the securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed
with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective
registration statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.4in">(iii)</TD><TD STYLE="text-align: justify">To include any material information with respect to any plan of distribution not previously disclosed
in the registration statement or any material change to such information in the registration statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><I>provided, however</I>,
that paragraphs&nbsp;(i), (ii)&nbsp;and (iii)&nbsp;do not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section&nbsp;13
or section&nbsp;15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement,
or is contained in a form of prospectus filed pursuant to Rule&nbsp;424(b) that is part of the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">2. That, for the purpose
of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">3. To remove from
registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">4. That, for the purpose
of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule 424(b) as part
of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses
filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first
used after effectiveness. <I>Provided, however</I>, that no statement made in a registration statement or prospectus that is part
of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such
first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration
statement or made in any such document immediately prior to such date of first use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">5. That, for the purpose
of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the
securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant
to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities
are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller
to the purchaser and will be considered to offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.4in">(i)</TD><TD STYLE="text-align: justify">Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering
required to be filed pursuant to Rule 424;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.4in">(ii)</TD><TD STYLE="text-align: justify">Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned
registrant or used or referred to by the undersigned registrant;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.4in">(iii)</TD><TD STYLE="text-align: justify">The portion of any other free writing prospectus relating to the offering containing material information
about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6in"></TD><TD STYLE="width: 0.4in">(iv)</TD><TD STYLE="text-align: justify">Any other communication that is an offer in the offering made by the undersigned registrant to
the purchaser.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">6. That, for the purpose
of determining any liability under the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant to
Section&nbsp;13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee
benefit plan&rsquo;s annual report pursuant to Section&nbsp;15(d) of the Securities Exchange Act of 1934) that is incorporated
by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Signatures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Glen Burnie, State of Maryland on May 10, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="tab-stops: .25in">GLEN BURNIE BANCORP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="width: 5%; tab-stops: .25in">By:</TD>
    <TD STYLE="width: 45%; border-bottom: windowtext 1pt solid; tab-stops: .25in; text-align: center">/s/ Michael G. Livingston</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Michael G. Livingston</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">KNOW ALL MEN BY THESE PRESENTS, that each
person whose signature appears below constitutes and appoints each of Michael G. Livingston and John E. Porter, as their true and
lawful attorney-in-fact and agent, each with full power of substitution and resubstitution, for him or her and in his or her name,
place and stead, in any and all capacities to sign the Form S-3 Registration Statement and any and all amendments thereto, and
to file the same, with all exhibits thereto, and other documents in connection therewith, with the U.S. Securities and Exchange
Commission, granting unto each said attorney-in-fact and agent full power and authority to do and perform each and every act and
thing requisite and necessary to be done as fully to all intents and purposes as he or she might or could do in person, hereby
ratifying and confirming all that said attorney-in-fact and agent, or either one of his or their substitute or substitutes, may
lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates
indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; tab-stops: .25in; font-weight: bold">Signature</TD>
    <TD STYLE="width: 3%; tab-stops: .25in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 41%; tab-stops: .25in; font-weight: bold">Title</TD>
    <TD STYLE="width: 3%; tab-stops: .25in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 28%; tab-stops: .25in; font-weight: bold">Date</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ Michael G. Livingston</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">President, Chief Executive Officer</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael G. Livingston</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">and Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ F. William Kuethe, Jr.</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">President Emeritus and Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. William Kuethe, Jr.</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ John E. Porter</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Senior Vice President and Chief</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John E. Porter</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Financial Officer</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ John E. Demyan</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Chairman of the Board and Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John E. Demyan</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ Thomas Clocker</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thomas Clocker</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ Norman E. Harrison, Jr.</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norman E. Harrison, Jr.</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ F. W. Kuethe, III</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. W. Kuethe, III</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ Charles Lynch</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Lynch</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ Edward L. Maddox</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edward L. Maddox</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ William N. Scherer, Sr.</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William N. Scherer, Sr.</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ Karen B. Thorwarth</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Karen B. Thorwarth</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; tab-stops: .25in">/s/ Mary Lou Wilcox</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">Director</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mary Lou Wilcox</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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    <TD STYLE="width: 10%; border-bottom: windowtext 1pt solid; tab-stops: .25in">&nbsp;No.</TD>
    <TD STYLE="width: 2%; tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: windowtext 1pt solid; tab-stops: .25in">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">5.1</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Opinion of Neuberger, Quinn, Gielen, Rubin &amp; Gibber, P.A.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">23.1</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Consent of TGM Group LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">23.2</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Consent of Neuberger, Quinn, Gielen, Rubin &amp; Gibber, P.A. (included in exhibit 5.1)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; text-align: justify">24.1</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; text-align: justify">Power of Attorney (contained on signature page)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

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<TYPE>EX-5
<SEQUENCE>2
<FILENAME>v312830_ex5.htm
<DESCRIPTION>EXHIBIT 5
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><U>Exhibit
5</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">LAW OFFICES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Neuberger,
Quinn, Gielen, Rubin &amp; Gibber, P.A.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">27th FLOOR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ONE SOUTH STREET</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BALTIMORE, MARYLAND 21202-3282</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>www.nqgrg.com</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(410) 332-8550</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

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    <TD STYLE="width: 18%; tab-stops: .25in; font-weight: bold"><FONT STYLE="font-variant: small-caps">Hillel Tendler</FONT></TD>
    <TD STYLE="width: 64%; tab-stops: .25in; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 18%; tab-stops: .25in; font-weight: bold; text-align: center">Fax No.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; font-weight: bold">(410) 332-8552</TD>
    <TD STYLE="tab-stops: .25in; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; font-weight: bold; text-align: center">(410) 332-8553</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; font-weight: bold; text-align: center">E-MAIL ADDRESS:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in; font-weight: bold; text-align: center">HT@NQGRG.COM</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">May 10, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glen Burnie Bancorp</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">101 Crain Highway, S.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glen Burnie, Maryland 21061</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Re:&nbsp;&nbsp;Registration Statement on Form S-3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We have acted as counsel to Glen Burnie
Bancorp, a Maryland corporation (the &ldquo;Company&rdquo;) in connection with the preparation and filing with the Securities and
Exchange Commission (the &ldquo;Commission&rdquo;) on or about the date hereof, of a registration statement on Form S-3 (as amended
or supplemented, the &ldquo;Registration Statement&rdquo;) under the Securities Act of 1933 (the &ldquo;Act&rdquo;), relating to
the registration of 150,000 shares of the Company&rsquo;s Common Stock, $1.00 par value per share (the &ldquo;Shares&rdquo;), to
be offered and sold from time to time by the Company pursuant to the Company&rsquo;s Dividend Reinvestment and Stock Purchase Plan
(the &ldquo;Plan&rdquo;)&nbsp;&nbsp;as described in the Registration Statement.&nbsp;&nbsp;This opinion is being provided at your
request for filing as an exhibit to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In connection with this opinion, we have
examined originals, or copies certified or otherwise identified to our satisfaction, of such instruments, certificates, records
and documents, and have reviewed such questions of law, as we have deemed necessary or appropriate for purposes of this opinion.
In such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals,
the conformity to the original documents of all documents submitted as copies and the authenticity of the originals of such latter
documents, and that all individuals executing such documents had the requisite legal authority and capacity to do so. As to any
facts material to our opinion, we have relied upon the aforesaid instruments, certificates, records and documents and inquiries
of your representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The opinion expressed below is subject
to, and qualified and limited by the effects of (i) bankruptcy, fraudulent conveyance or fraudulent transfer, insolvency, reorganization,
moratorium, liquidation, conservatorship and similar laws, and limitations imposed under judicial decisions related to or affecting
creditors&rsquo; rights and remedies generally, (ii) general equitable principles, regardless of whether the issue of enforceability
is considered in a proceeding in equity or at law (regardless of whether arising prior to, or after, the date hereof), and principles
limiting the availability of the remedy of specific performance or injunctive relief, and (iii) concepts of good faith, fair dealing
and reasonableness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Based upon the foregoing examination, we
are of the opinion that the Shares are duly authorized, and, when issued against payment as provided for pursuant to the terms
of the Plan, will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We are, in this opinion, opining only on
the Maryland General Corporation Law (including the relevant statutory provisions and the reported judicial decisions interpreting
these laws) and the federal law of the United States.&nbsp;&nbsp;We are not opining on &ldquo;blue sky&rdquo; or other state securities
laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We hereby consent to the filing of this
opinion as an exhibit to the Registration Statement and to the statements with respect to our name wherever it appears in the Registration
Statement and in any amendment or supplement thereto. In giving the foregoing consent, we do not hereby admit that we come within
the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations of the Commission thereunder.
This opinion has been prepared for use in connection with the Registration Statement and may not be relied upon for any other purpose
without our prior written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 45%; tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="width: 55%; tab-stops: .25in">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD>
    <TD STYLE="tab-stops: .25in">/s/ NEUBERGER, QUINN, GIELEN, RUBIN &amp; GIBBER, P.A.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>v312830_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><U>Exhibit
23.1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC ACCOUNTANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have issued our report dated March 8,
2012 accompanying the consolidated financial statements of Glen Burnie Bancorp (the &ldquo;Company&rdquo;) and subsidiaries included
in the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2011 which are incorporated by reference in this
Registration Statement.&nbsp; We consent to the incorporation by reference in the Registration Statement of the aforementioned
report and to the use of our name as it appears under the caption &ldquo;Experts.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 100%; tab-stops: .25in">/s/ TGM GROUP LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">Salisbury, Maryland</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: .25in">May 10, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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