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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2012
Organization, Consolidation and Presentation Of Financial Statements [Abstract] |
Schedule of Condensed Balance Sheet |
| The Balance Sheets, Statements of Income, and Statements of Cash Flows for Glen Burnie Bancorp (Parent Only) are presented below:
Balance Sheets
December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 75,902 |  |  | $ | 314,322 |  |  | $ | 355,922 |
Investment in The Bank of Glen Burnie |  |  | 33,250,639 |  |  |  | 30,907,210 |  |  |  | 25,946,536 |
Investment in GBB Properties, Inc. |  |  | 255,470 |  |  |  | 255,770 |  |  |  | 255,770 |
Due from subsidiaries |  |  | 1,362 |  |  |  | 1,027 |  |  |  | 1,414 |
Other assets |  |  | 4,292 |  |  |  | 4,292 |  |  |  | 4,583 |
Total assets |  | $ | 33,587,665 |  |  | $ | 31,482,621 |  |  | $ | 26,564,225 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Dividends payable |  | $ | - |  |  | $ | 271,791 |  |  | $ | 231,579 |
Total liabilities |  |  | - |  |  |  | 271,791 |  |  |  | 231,579 |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 2,736,978 |  |  |  | 2,717,909 |  |  |  | 2,702,091 |
Surplus |  |  | 9,604,906 |  |  |  | 9,437,605 |  |  |  | 9,334,810 |
Retained earnings |  |  | 18,783,164 |  |  |  | 17,209,386 |  |  |  | 15,300,344 |
Accumulated other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
(loss), net of benefits |  |  | 2,462,617 |  |  |  | 1,845,930 |  |  |  | (1,004,599 | )
Total stockholders’ equity |  |  | 33,587,665 |  |  |  | 31,210,830 |  |  |  | 26,332,646 |
Total liabilities and stockholders’ equity |  | $ | 33,587,665 |  |  | $ | 31,482,621 |  |  | $ | 26,564,225 |
Schedule of Condensed Income Statement |
The Balance Sheets, Statements of Income, and Statements of Cash Flows for Glen Burnie Bancorp (Parent Only) are presented below:
Statements of Income
Years Ended December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |
Dividends and distributions from subsidiaries |  | $ | 980,000 |  |  | $ | 920,000 |  |  | $ | 1,455,000 |
Other income |  |  | - |  |  |  | - |  |  |  | 24,645 |
Interest expense on junior subordinated debentures |  |  | - |  |  |  | - |  |  |  | (648,127 | )
Other expenses |  |  | (65,446 | ) |  |  | (58,172 | ) |  |  | (105,785 | )
Income before income tax benefit and equity in undistributed net income of subsidiaries |  |  | 914,554 |  |  |  | 861,828 |  |  |  | 725,733 |
Income tax benefit |  |  | 24,084 |  |  |  | 21,120 |  |  |  | 277,440 |
Change in undistributed equity of subsidiaries |  |  | 1,726,442 |  |  |  | 2,110,145 |  |  |  | 1,061,612 |
Net income |  | $ | 2,665,080 |  |  | $ | 2,993,093 |  |  | $ | 2,064,785 |
Schedule of Condensed Cash Flow Statement |
The Balance Sheets, Statements of Income, and Statements of Cash Flows for Glen Burnie Bancorp (Parent Only) are presented below:
Statements of Cash Flows
Years Ended December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 2,665,080 |  |  | $ | 2,993,093 |  |  | $ | 2,064,785 |
Adjustments to reconcile net income to net |  |  |  |  |  |  |  |  |  |  |  |
cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Decrease in other assets |  |  | - |  |  |  | 291 |  |  |  | 44,850 |
(Increase) decrease in due from subsidiaries |  |  | (335 | ) |  |  | 387 |  |  |  | 42,582 |
Decrease in accrued interest payable |  |  | - |  |  |  | - |  |  |  | (171,518 | )
Change in undistributed equity of subsidiaries |  |  | (1,726,441 | ) |  |  | (2,110,145 | ) |  |  | (1,061,612 | )
Net cash provided by operating activities |  |  | 938,304 |  |  |  | 883,626 |  |  |  | 919,087 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Sale of common stock in the Glen Burnie Statutory Trust I |  |  | - |  |  |  | - |  |  |  | 155,000 |
Capital contributed from subsidiary |  |  | - |  |  |  | - |  |  |  | 5,000,000 |
Net cash provided by investing activities |  |  | - |  |  |  | - |  |  |  | 5,155,000 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from dividend reinvestment plan |  |  | 186,369 |  |  |  | 118,613 |  |  |  | 162,975 |
Redemption of guaranteed preferred beneficial interest in Glen Burnie Bancorp junior subordinated debentures |  |  | - |  |  |  | - |  |  |  | (5,155,000 | )
Dividends paid |  |  | (1,363,093 | ) |  |  | (1,043,839 | ) |  |  | (1,074,655 | )
Net cash used in financing activities |  |  | (1,176,724 | ) |  |  | (925,226 | ) |  |  | (6,066,680 | )
(Decrease) increase in cash |  |  | (238,420 | ) |  |  | (41,600 | ) |  |  | 7,407 |
Cash, beginning of year |  |  | 314,322 |  |  |  | 355,922 |  |  |  | 348,515 |
Cash, end of year |  | $ | 75,902 |  |  | $ | 314,322 |  |  | $ | 355,922 |

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