<SEC-DOCUMENT>0001571049-14-003856.txt : 20140812
<SEC-HEADER>0001571049-14-003856.hdr.sgml : 20140812
<ACCEPTANCE-DATETIME>20140811103929
ACCESSION NUMBER:		0001571049-14-003856
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140808
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140811
DATE AS OF CHANGE:		20140811

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLEN BURNIE BANCORP
		CENTRAL INDEX KEY:			0000890066
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				521782444
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24047
		FILM NUMBER:		141029343

	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>8-K
<SEQUENCE>1
<FILENAME>t79957_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">WASHINGTON, D.C. 20549</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">FORM 8-K</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d) OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of report (Date of earliest event reported):
<B>August 8, 2014</B></P>

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

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">GLEN BURNIE BANCORP</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="background-color: white; width: 100%; font: 10pt times new roman">
<TR>
    <TD STYLE="width: 25%"><B>Maryland&#9;</B></TD>
    <TD STYLE="vertical-align: top; width: 50%; text-align: center"><B>0-24047</B></TD>
    <TD STYLE="width: 25%; text-align: left"><B>52-1782444</B></TD></TR>
<TR>
    <TD>(State or Other Jurisdiction</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Commission
File Number)</TD>
    <TD STYLE="text-align: left">(IRS Employer</TD></TR>
<TR>
    <TD>of Incorporation)</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">Identification No.)</TD></TR>
</TABLE>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#9;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">101 Crain Highway, S.E., Glen Burnie, Maryland
21061</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Registrant&rsquo;s telephone number, including
area code: <B>(410) 766-3300</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name or Former Address if Changed Since
Last Report)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;&#9;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;&#9;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;&#9;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8301;&#9;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="text-underline-style: double"><U>&#9;</U></FONT></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION TO BE INCLUDED IN THE REPORT</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><B>Item 2.02.&#9;Results
of Operations and Financial Condition.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On August 8, 2014, Glen
Burnie Bancorp (the &ldquo;<B>Company</B>&rdquo;) announced its results of operations for its fiscal quarter ended June 30, 2014.
A copy of the Company&rsquo;s press release announcing such results dated August 8, 2014 is attached hereto as Exhibit&nbsp;99.1.
This Form 8-K and the attached exhibit are furnished to, but not filed with, the Securities and Exchange Commission (&ldquo;<B>SEC</B>&rdquo;)
and shall not be deemed to be incorporated by reference into any of the Company&rsquo;s filings with the SEC under the Securities
Act of 1933.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 9.01.&#9;Financial Statements and Exhibits.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(c)&#9;Exhibits</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">The following
exhibits are filed herewith:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><U>Exhibit No.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">99.1&#9; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated August 8,
2014<B>&nbsp;&nbsp;</B></P>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><div align="left"><table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><tr><td width="90%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"></FONT></TD>
</TR></TABLE>
</DIV>

<DIV STYLE="text-align: center"><FONT STYLE="display: inline; font: bold 10pt Times New Roman">&#160;</FONT></DIV>

<DIV STYLE="text-align: center"><FONT STYLE="display: inline; font: bold 10pt Times New Roman">SIGNATURES</FONT></DIV>
</DIV>

<DIV STYLE="text-indent: 0pt; display: block"><BR>
</DIV>

<DIV ALIGN="JUSTIFY" STYLE="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font: 10pt Times New Roman"><FONT STYLE="margin-left: 36pt"></FONT>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</FONT><BR>
</DIV>

<DIV>&#160;</DIV>

<DIV ALIGN="LEFT">
<TABLE BGCOLOR="white" CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt times new roman">
<TR>
<TD WIDTH="50%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD COLSPAN="2" WIDTH="5%"><FONT STYLE="font: 10pt times new roman"><FONT STYLE="display: inline; font-weight: bold">GLEN BURNIE BANCORP</FONT></FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
</TR><TR>
<TD WIDTH="50%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD COLSPAN="2" WIDTH="5%"><FONT STYLE="font: 10pt times new roman">(Registrant)</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
</TR><TR>
<TD WIDTH="50%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD WIDTH="40%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
</TR>     <TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD WIDTH="50%"><FONT STYLE="font: 10pt times new roman">Date:  August 11, 2014</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">By:</FONT></TD>
<TD WIDTH="40%" STYLE="border-bottom: black 2px solid"><FONT STYLE="font: 10pt times new roman"> </FONT>
<DIV ALIGN="LEFT" STYLE="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt"><FONT STYLE="font: 10pt times new roman"><FONT STYLE="display: inline; font: 10pt times new roman"><FONT STYLE="display: inline">&#160;&#160;&#160;&#160;&#160;&#160;&#160; /s/ Michael G. Livingston</FONT></FONT></FONT></DIV>
</TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
</TR><TR>
<TD WIDTH="50%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD WIDTH="40%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT STYLE="font: 10pt times new roman">Michael
G. Livingston</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
</TR><TR>
<TD WIDTH="50%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
<TD WIDTH="40%"><FONT STYLE="font: 10pt times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chief Executive Officer</FONT></TD>
<TD WIDTH="5%"><FONT STYLE="font: 10pt times new roman">&#160;</FONT></TD>
</TR></TABLE>
</DIV>

<DIV><FONT STYLE="display: inline; font: bold 10pt Times New Roman">&#160;</FONT></DIV>


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


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


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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<HR NOSHADE SIZE="1" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B><U>Exhibit 99.1</U></B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%; text-align: left; vertical-align: bottom"><IMG SRC="image_001.jpg" ALT=""><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="width: 50%; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 12pt"><B>N E W S R E L E A S E</B></FONT></TD></TR>
</TABLE>

<P STYLE="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><B><FONT STYLE="font-size: 12pt"></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>FOR IMMEDIATE RELEASE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Contact: Yvonne &ldquo;Rie&rdquo; Atkinson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">410-768-8857 (office)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>GLEN BURNIE BANCORP RELEASES 2Q EARNINGS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">GLEN BURNIE, MD (August 8, 2014) &ndash; Glen
Burnie Bancorp (NASDAQ: GLBZ), parent company of The Bank of Glen Burnie, today announced results for the second quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For the three month period ended June 30, 2014,
Glen Burnie Bancorp realized net income of $435,000 or $0.16 basic earnings per share. The company reported net income of $640,000
or $0.24 basic earnings per share for the same three month period in 2013. Net interest income after provisions for credit losses
was $2,820,000 for the three month period ended June 30, 2014. The company reported net interest income after provisions for credit
losses of $3,009,000 for the same period in 2013.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Net income for the six months ended June 30,
2014 was $908,000 or $0.33 basic earnings per share as compared to $1,169,000 or $0.43 basic earnings per share for the same period
in 2013. Net interest income after provisions for credit losses for the six months ended June 30, 2014 was $5,869,000 as compared
to $5,922,000 for the same period in 2013.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On July 9, 2014, Glen Burnie Bancorp paid its
88<SUP>th</SUP> consecutive dividend to shareholders of record at the close of business on June 27, 2014. The company had 2,754,304
common shares outstanding with approximately 403 shareholders of record on June 12, 2014.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;While loans grew this quarter, we experienced
a decline in yields as a result of the lingering effects of the recession.&nbsp; In addition, our loan growth required us to increase
funding to the loan loss reserve.&nbsp; We are pleased that the Bank continues to be profitable and recently paid our 88th consecutive
quarterly dividend.&rdquo; said Michael G. Livingston, President and CEO.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Glen Burnie Bancorp, parent
company to The Bank of Glen Burnie<SUP>&reg;</SUP>, currently maintains consolidated assets totaling more than $400 million. Founded
in 1949, The Bank of Glen Burnie<SUP>&reg;</SUP> is a locally-owned community bank with eight branch offices serving Anne Arundel
County. (<FONT STYLE="color: blue"><U>thebankofglenburnie.com)</U></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Certain information contained in this news
release, which does not relate to historical financial information, may be deemed to constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties,
which could cause the company&rsquo;s actual results in the future to differ materially from its historical results and those presently
anticipated or projected. For a more complete discussion of these and other risk factors, please see the company&rsquo;s reports
filed with the Securities and Exchange Commission.</I></P>





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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><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>
    <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="margin: 0"></P>




<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="text-align: center"></TD>

    <TD COLSPAN="6" STYLE="text-align: center"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="text-align: center"></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B>Glen Burnie Bancorp and Subsidiaries</B></FONT></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt">Condensed Consolidated Balance Sheets</FONT></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt">(dollars in thousands)</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr>
    <TD COLSPAN="2">&nbsp;</td>
    <TD STYLE="vertical-align: middle; text-align: center">(unaudited)</td>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: center">(audited)</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD STYLE="text-align: center">June</td>
    <TD COLSPAN="2" STYLE="text-align: center">December</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: center; background-color: white">30, 2014</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center; background-color: white">31, 2013</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="width: 67%">Cash and due from banks</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; width: 2%">$</TD>
    <TD STYLE="text-align: right; width: 11%">9,499</td>
    <TD STYLE="text-align: center; width: 6%; vertical-align: middle">$</TD>
    <TD STYLE="text-align: right; width: 5%">9,214</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Interest bearing deposits</td>
    <TD STYLE="text-align: right">4,651</td>
    <TD COLSPAN="2" STYLE="text-align: right">1,636</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Federal funds sold</td>
    <TD STYLE="text-align: right">2,415</td>
    <TD COLSPAN="2" STYLE="text-align: right">103</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Investment securities</td>
    <TD STYLE="text-align: right">83,760</td>
    <TD COLSPAN="2" STYLE="text-align: right">74,314</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Loans, net of allowance</td>
    <TD STYLE="text-align: right">281,282</td>
    <TD COLSPAN="2" STYLE="text-align: right">270,684</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Premises and equipment at cost, net of accumulated depreciation</td>
    <TD STYLE="text-align: right">3,736</td>
    <TD COLSPAN="2" STYLE="text-align: right">3,697</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Other real estate owned</td>
    <TD STYLE="text-align: right">163</td>
    <TD COLSPAN="2" STYLE="text-align: right">1,171</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-bottom: black 0.5pt solid">Other assets</TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: right; vertical-align: top"></TD>
    <TD STYLE="border-bottom: black 0.5pt solid; text-align: right">15,056</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">16,375</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-bottom: black 2pt double">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; vertical-align: bottom">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right">400,562</td>
    <TD STYLE="border-bottom: black 2pt double; text-align: center; vertical-align: middle">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right">377,194</TD>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities and Stockholders' Equity</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities:</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD>Deposits</TD>
    <TD STYLE="text-align: right; vertical-align: middle">$</TD>
    <TD STYLE="text-align: right">345,087</td>
    <TD STYLE="text-align: center; vertical-align: middle">$</TD>
    <TD STYLE="text-align: right">323,803</TD>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Long-term borrowings</td>
    <TD STYLE="text-align: right">20,000</td>
    <TD COLSPAN="2" STYLE="text-align: right">20,000</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Other liabilities</td>
    <TD STYLE="text-align: right">1,626</td>
    <TD COLSPAN="2" STYLE="text-align: right">1,807</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities</TD>
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; vertical-align: middle"></TD>
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right">366,713</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right">345,610</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity:</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Common stock, par value $1, authorized 15,000,000 shares;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding June 30, 2014&nbsp;&nbsp;&nbsp;2,754,305;&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December 31, 2013&nbsp;&nbsp;2,747,370 shares</td>
    <TD STYLE="text-align: right">2,754</td>
    <TD COLSPAN="2" STYLE="text-align: right">2,747</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Surplus</td>
    <TD STYLE="text-align: right">9,786</td>
    <TD COLSPAN="2" STYLE="text-align: right">9,714</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Retained earnings</td>
    <TD STYLE="text-align: right">20,658</td>
    <TD COLSPAN="2" STYLE="text-align: right">20,301</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">Accumulated other comprehensive loss, net of tax benefits</td>
    <TD STYLE="text-align: right">651</td>
    <TD COLSPAN="2" STYLE="text-align: right">(1,178</td>
    <TD>)</TD></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity</td>
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right">33,849</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right">31,584</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</TD></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-bottom: black 2pt double">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; vertical-align: middle">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right">$400,562</td>
    <TD STYLE="border-bottom: black 2pt double; text-align: center; vertical-align: middle">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right">377,194</TD>
    <TD>&nbsp;</TD></tr>
</table>


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

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Gray 1pt solid"><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>
    <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="margin: 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <TD COLSPAN="10" STYLE="font-size: 12pt; font-weight: bold; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glen Burnie Bancorp and Subsidiaries</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="10" STYLE="text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Condensed Consolidated Statements of Income</td></tr>
<tr style="vertical-align: bottom">
    <TD COLSPAN="10" STYLE="text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dollars in thousands, except per share amounts)</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="4">&nbsp;&nbsp;Three Months Ended</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="4">&nbsp;&nbsp;Six Months Ended</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="4" STYLE="text-align: center">June 30,</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="4" STYLE="text-align: center">June 30,</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="4" STYLE="border-bottom: black 0.5pt solid; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(unaudited)</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="4" STYLE="border-bottom: black 0.5pt solid; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(unaudited)</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center; background-color: white">2014</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center; background-color: white">2013</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center; background-color: white">2014</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: center; background-color: white">2013</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>Interest income on</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Loans, including fees</td>
    <TD STYLE="text-align: right">&nbsp;$</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,023</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,048</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">$</TD>
    <TD STYLE="text-align: right">6,129</TD>
    <TD STYLE="text-align: right">$</TD>
    <TD STYLE="text-align: right">6,051</TD></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;U.S. Government agency securities</td>
    <TD COLSPAN="2" STYLE="text-align: right">175</td>
    <TD COLSPAN="2" STYLE="text-align: right">215</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">391</td>
    <TD COLSPAN="2" STYLE="text-align: right">402</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;State and municipal securities</td>
    <TD COLSPAN="2" STYLE="text-align: right">339</td>
    <TD COLSPAN="2" STYLE="text-align: right">426</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">669</td>
    <TD COLSPAN="2" STYLE="text-align: right">844</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Other</td>
    <TD COLSPAN="2" STYLE="text-align: right">23</td>
    <TD COLSPAN="2" STYLE="text-align: right">19</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">46</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">41</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">3,560</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">3,708</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; border-top-color: black; border-top-width: 0.5pt">7,235</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; border-top-color: black; border-top-width: 0.5pt">7,338</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>Interest expense on</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Deposits</td>
    <TD COLSPAN="2" STYLE="text-align: right">468</td>
    <TD COLSPAN="2" STYLE="text-align: right">539</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">898</td>
    <TD COLSPAN="2" STYLE="text-align: right">1,098</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Long-term borrowings</td>
    <TD COLSPAN="2" STYLE="text-align: right">160</td>
    <TD COLSPAN="2" STYLE="text-align: right">160</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">318</td>
    <TD COLSPAN="2" STYLE="text-align: right">318</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">628</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">699</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right">1,216</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right">1,416</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income</td>
    <TD COLSPAN="2" STYLE="text-align: right">2,932</td>
    <TD COLSPAN="2" STYLE="text-align: right">3,009</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">6,019</td>
    <TD COLSPAN="2" STYLE="text-align: right">5,922</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>Provision for credit losses</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right"></td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right"></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">2,820</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">3,009</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; border-top-color: black; border-top-width: 0.5pt">5,869</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; border-top-color: black; border-top-width: 0.5pt">5,922</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>Other income&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Service charges on deposit accounts</td>
    <TD COLSPAN="2" STYLE="text-align: right">113</td>
    <TD COLSPAN="2" STYLE="text-align: right">132</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">237</td>
    <TD COLSPAN="2" STYLE="text-align: right">270</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Other fees and commissions</td>
    <TD COLSPAN="2" STYLE="text-align: right">190</td>
    <TD COLSPAN="2" STYLE="text-align: right">186</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">361</td>
    <TD COLSPAN="2" STYLE="text-align: right">361</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Other non-interest income&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">10</td>
    <TD COLSPAN="2" STYLE="text-align: right">4</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Income on life insurance</td>
    <TD COLSPAN="2" STYLE="text-align: right">56</td>
    <TD COLSPAN="2" STYLE="text-align: right">58</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">111</td>
    <TD COLSPAN="2" STYLE="text-align: right">116</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Gains on investment securities</td>
    <TD COLSPAN="2" STYLE="text-align: right">141</td>
    <TD COLSPAN="2" STYLE="text-align: right">122</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">220</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">124</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">510</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">502</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; border-top-color: black; border-top-width: 0.5pt; background-color: white">943</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; border-top-color: black; border-top-width: 0.5pt; background-color: white">881</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right; border-top-color: black; border-top-width: 0.5pt"></td>
    <TD COLSPAN="2" STYLE="text-align: right; border-top-color: black; border-top-width: 0.5pt"></td></tr>
<tr style="vertical-align: bottom">
    <TD>Other expenses</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Salaries and employee benefits</td>
    <TD COLSPAN="2" STYLE="text-align: right">1,669</td>
    <TD COLSPAN="2" STYLE="text-align: right">1,673</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">3,346</td>
    <TD COLSPAN="2" STYLE="text-align: right">3,328</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Occupancy</td>
    <TD COLSPAN="2" STYLE="text-align: right">205</td>
    <TD COLSPAN="2" STYLE="text-align: right">195</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">427</td>
    <TD COLSPAN="2" STYLE="text-align: right">397</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;Other expenses</td>
    <TD COLSPAN="2" STYLE="text-align: right">958</td>
    <TD COLSPAN="2" STYLE="text-align: right">855</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">1,974</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">1,683</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">2,832</td>
    <TD COLSPAN="2" STYLE="border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: right; background-color: white">2,723</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">5,747</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">5,408</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="background-color: white">Income before income taxes</td>
    <TD COLSPAN="2" STYLE="text-align: right; background-color: white">498</td>
    <TD COLSPAN="2" STYLE="text-align: right; background-color: white">788</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right; background-color: white">1,065</td>
    <TD COLSPAN="2" STYLE="text-align: right; background-color: white">1,395</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-bottom: black 0.5pt solid; background-color: white">Income tax expense</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; background-color: white">63</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right; background-color: white">148</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">157</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 0.5pt solid; text-align: right">226</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2pt double; background-color: white; width: 58%">Net income&nbsp;</td>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">435</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white; width: 5%">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white; width: 5%">640</TD>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; width: 5%">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; width: 5%">908</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; width: 5%">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; width: 5%">1,169</TD></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2pt double; background-color: white">Net income per share of common stock</td>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">0.16</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">0.24</TD>
    <TD>&nbsp;</td>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">0.33</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">$</TD>
    <TD STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">0.43</TD></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td>
    <TD COLSPAN="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2pt double; background-color: white">Weighted-average shares of common stock outstanding</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">2,754,079</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">2,740,132</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">2,753,943</td>
    <TD COLSPAN="2" STYLE="border-bottom: black 2pt double; text-align: right; background-color: white">2,740,132</td></tr>
</table>


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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"`!K`)<#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^BF3316\
M$D\\B111J7>1V"JJ@9))/0`5RD/Q$\-ZOJ\>A:)K=M/JMRK^01"TL0*J6R2"
MH8<'@-S@\B@#KJQO$7BO1/"EH+K6KT6T39V_(S%CZ84&N2^'7B+7-0\5>*]&
M\2W(?4;":,0I&@2(P_-AD4<\\$DDGYE!/''6^+M%'B+PCJVD8!>ZM72//0/C
M*'\&`/X4`<_?>-]>GTHZAH'@W4+FU"^89KR2.`M'C=N2/<7?(Z`A<YJG\1/$
M/BS1[72-3\+M:W%O>3)%]BGM6$LA92XY)!&0I7;@$$C\,'P"/%OBOX<Z>]IX
MDAT^33B;86RVAW.\1^5)I"Q."-N=JC@]^E==\1[FV?PKJ$L+B6]T26VU(QK]
MY-D@<'\55^_Y4`5AJ^F?%#X?W5SI5W=6MY%$Y"17+PRVMP$.T/L8;AGUX/\`
M+?\``]S%>>!=#N88Q&LME$Y4'.&*@MS]<UR'B[P7J&DZHWC;P,Z0:G&N^[L%
MXAOTR2V1W8@_ID8/-:/P=OQJ'P[MG2SFM88[JY2%),_<\UF4`X&0H;9QQE".
MV``<=X]@\/V/QIT5=:9(-)N[&26\1G98WD_>;7<*>N0.3Z#TX=X.M]%OOB-J
MMCX;O(KCP;]BVWFGW$S-'YQSG9'(<[0!R<$#)'IBQXG\2:3IO[0&CW=W>".U
ML]->"XG`+)%(WF85B.G49SP,C\+.M?8_''Q$\,7_`(4!F^P2/)?ZK!&5C6/;
MA4\S'SL<,,`GJ<XZ@`L?`BUA;P3-J7,D]Q>2J)7))$:D!5&>B\=!5'QUI\-E
MXA\3W4-WJ$`MO#W]H1)%>S(J7;2R!90`V,_(!CI_2#X6>+]'\&>'9?"GB>Z&
MDZI87,N5ND*+*I;(96QR,Y_IQ67\2]?M]1\.^)]90-'::C!9:=IK3#RWN5CE
M>21U1ANV98#)'.#[8`+T37=A\([?Q6/'FI0ZK]C^T[9[Y9XI9""1%L;/)^[@
M'(/TP.]3Q3JEG\+H/$^H6,8O8K);JZMI&,6[`RV.#M)Z@'UP<5POC?0=.\&Z
M7X6\9Z/86D3:9+#%?F")=L\+*%8L`,,V>`>N6]ACN/&US'JUGH.E6DL<JZMJ
M4`.#D&%`TS'W&(L?CVZ@`T_"OBVT\4^$XO$$,,UO$PD\R%QN>,H2&&%Z],C'
M)R..U7-'\1Z-KXE_LK4K>Z>$XFC1OWD1]'0_,IX/4#H:\[\'WJ>"?B#XN\-7
M\@AL)BVM6.X;0(SDR!>V!@#K_`??'-ZVE[_PA/A&SLC]F\4>)-5?44N(24D@
M\YB[L"N#@*\8/J`>..`#WRBN&\6^)KCX?:1HL<7G:U/<78M3%<./M%P&#'<&
M4!00<?PX((''6MC2?&>DZG=?8)9)-/U54WR:??+Y4RCU`/#C_:4D>]`'0T44
M4`>=>.[J#4?'O@_PG?Q^9IE[)-<W,1Y68QQDQHP[KNY(.02!6WXSU+0_#NDV
MM_JFCW=W;V,OVB'[%;%_L[(.&R"`HYQR0#GTS6=\3O"6I^(M.T[4=`D1-=T>
MY^U6@<A1)TW)GC&<+U.#C!ZY&-J'C+7]9\,WFEZIX,GTN2:V:&\O=1E6.R@5
MAM,FX\L.<A1ST&>]`&7JNMQZ;X[\'?$215LM,UVT^Q7BN^1&K9:-G8<9(*$@
M]/+/ID=9K7CV*XO--@\,B;4HQ>Q&^O+6/=;0V^2)"TQ&S@>_8\C%>:)X@L[O
M1=-\/>%M$_X2"UT=FB75=7RT",Q;YA!G#8!RI/W5'3KB&?P[?:X"WBW4M0U0
MH3Y<$#2V\$0&[A4\D@#Y1TQTQVX`'Z9XM'@O5_$$6FZ]I0M]2O9;F*PL[22_
MGB/S8VE62+H!D;SP!TYI/[?U5QK4+>#_`!-J3:VJF[N=6D:U0I'N"JJQ(-JX
M)!`;G%;,&FZ78QA+;18X_+#!6%JF[^+JWV3)Z#.3V]OEM.8/WG_$N(Y)_P"/
M=!TW_P#3IQT]NGY`&5::A\0=+TL6.CSZ#I%LC96*.VNY648Z9D1^`%Z9XQVQ
MPT-X]:/R[KQC+&JLQV6%@T8!.XDC]RI(SG@^G;MKN8/WG_$N(Y)_X]T'3?\`
M].G'3VZ?E)H^@ZUXJLGO],MM,L+!Y9$BENXXY7EV,Z;@BP)M7(Z$@D#H,C`!
MC_8=;8$7'C+Q4?D8-Y4TB8/S=/W?3@^G3_OE6TG48QM/BWQD@"G@7LHQ][&/
MW0X_+I_WSLZOX$U6P,$NK@:YHL<;S7L>E6L%E/E03C@J2G7A6#$X&,=-*X^&
MMG=6%IJ/@F_BM+>[1)=EY&;F%HV&0Z"0%U;Y@<9`/0@=:`.3DL/$L;*8/%VO
M!HUW$W2/+M/S<Y,60/?'8?\``:6H7_C^T>)9_%6G7<<TR6ZPZC8C+&20*,%H
ML8SC(W#@>V!Z9)\(?"TNBQV1AN4NUCV_VA%<.DQ?!RYYP222<$8[8P!CG]#C
M\'6GAO3KW6O#5LL=U`8I=4DM%>V1@[IA\L60G:,G`'(Y&.`!;FS^)5OH4VCW
MWA7PKK&E/&8VM;)V@!')X#$`<C(P`<G(]N8BUBW\,ZYI5[<>&]=\+P:<9-ML
M;%;NS4.N';S!L<LP7[Q+8V^G`]'\-S>(O#&@Z=87.C1:E9(54WVFWIF.UVR&
M$;J#L7=T!.%`QQP.XCGAF9UBECD,;;7"L#M/H?0T`>*^.CIWQ,N='OO!7B*R
M%_%YUI<LTOE.MM(AW$QL`S`#<,`9^?VR+OAF2U\6?&B]U-$,6G^&K!+2SCG0
MQ-D[@7\M@,#[XSQQMX].TU_X9>$?$8+7FCPQ7&01<6H\F0$9YRN,]3US^@KS
M3QOH6J>"(+:,:O\`\)'8W8>WATW5D=KC;C)$<Z88<;>,KT'''`!?L8=3^)?Q
M(O?$VFW<=M8>'G-MIAN8A-%/+R';:"#M/!W`@CY<<CCL=.T^Z\<66DZGXCTZ
MUL[O2=4>6$0YD\SRMZ;E+`%5+@-C!R$4]QM\X\`^/(])MCI'AR"/Y)&=]`U2
M80SQN<[E@N,!9.<':ZAO<]O:_#\^K7>D176LV\5K=SDR?98R3]G4_=1F_B8#
MJ<`9S@4`:E%%%`&3XE\2:9X3T.XU?59O+MX1PJX+RMV1!W8__7.`":\*N[F\
M^(-RFN>*[B*#2F4M8Z.MR@C"%<AV;S4);@DY`/T'`[:*W7XC?%>\ENU670/"
MK^1';R*2L]V<[F(Z$*5[^B\<FNDU#X=V365W;Z#J-]H/VI&1TLI/W)W`CB)L
MJO7^#:?0C@@`\HT3Q;I.KWNH6,5O':)9OMB8R!0Z#<,C=,H'T!/`R,<;=YI[
M%$8/<VX8'_GXCZ8;I^_''Y=\8P-O/:;\(?%/@/Q1;ZO97\LUO"?^/K3[<2R*
M&!!#0,P+#D?=+>N...S&LZ=>#[/J'Q(UJYNRQ86FGV?D3;5SE?+2+S`?7/H>
MF,@`HG[.('=GCP.2WG)C&&R0?/''!].AQC`VXVH:K`)+NVM=1LH)K6RFO7E>
M59"=G`C11*0Q8M_%MQC..@7J&T70;V01?\(IXJU7?)EGNS,H5<-PAN)4V\XY
MP/O=OX?')?$FCZ=\8X[Z'P]'!I-K.+6335MXV.`-C?+R&;=DCG.0.?0`[^:Q
MT=(M)TV_\8:/JVJ7LSM-*\T#65FJ*QW&/_EH0?E4.<%L$CY>/:=`T^QTG0;+
M3]-E\VSMXQ'$^X-D#CJ./RKCGU3P4T/V/5;2'2WD#@PZMI_V99>N,N5"E0,\
M`]O;%)>>!_#ODIJ.E+%IS9W+>6-S]E1MHZEHSM"<#Y0,G';&0`>B4R&&*W@C
M@@C2**-0B1HH554#```Z`"O$+G5=3@U%_,\:'7K2-'`T^TO'@N2`3R&MD/(!
M_C(^Z<XQ\NY!'X)>TAN=0\*^)=.)^<S75O>>9">3_K%8L/P/`QT`X`/4+JVB
MO;.>UG#&&:-HW"N4.TC!PRD$'!Z@@BN,BL[3P+KFGZ?!)-'X=U1&M$MYIG>.
MTN!EDVLQ.U7!<8SU5<=35-KZQTVP74='^(:0V>2JV^I,EU&6&<H`2LV[C[N[
M(`/'I3?5/%WC&WL[5/#T)M+>]2>:]:=[:*Y$9+(JQR)Y@&\1G.".."#R`"OH
M.HR^`?%)\.:AJ.H2:3:PN?-N@98H[<E?LSA@O[O:!+&V3M^0-QT'7Z]X)L[N
M"YO-"6/1]>,;^1?V@$1+G)Q)@8=23SD'KD<X-<?XCCUK5?&-AHE]K&A6NKW>
MF7D4-M%:S,/*E`#%G+C)PC$#;CY6)'3'6VB^.=/MK:W^R>'[N.*,1DK<S0MP
M#@\HP[+]>>G8`X36M/UKPGJ/EZMX@UN?2[KYH;QK]PD4F&9HG8/'M`Q\K$@$
M''&.*?\`9VD[`KRR2*D@=8WU-Y$W`DAL-=8."%ZC/'Y=IXDU[RM+7_A,_"97
M3HY5E8PW\4T;,AROR%D:09`.W:<\<'MP6E2:V+::+1K*[?2X+B5[&ZN;B>".
M.W#-MSF0$E1L7`48"@GID`#=>\/Z+X@LGCNVA^T*I6&=9D+1DYY'[\`C.."/
MRXQ;\(_$'4O!-[#H?BR\6^T223R;/5C*C/%Z"4*S':>Q)R!Z@?+--?ZUIB(M
M]H>N"9')7['.TZDG/*XN02.AZ=!],9EYK.BZQIO]FZA>@1W&0T%W<R1L&.1G
M9)-U#`8SP"HZ?P@'T`"&4,I!!&01WHKRKX/ZY<6C7_@G4IG>;3?WNGR2'F6U
M)X`/?:>/;./X:*`)?@Y?PVGPW;4;H[9KS4+F:4!<$R9.0>`,X3OQ]*Z31O%U
MSKGB$VEM;6T=E&9!(S3;I2%)"LH'&#QD9R"&!Z5R'@JQT_1_'.O^"M8MT(^U
M/J>DQRY\N6&3JJJ3M;;].H8_P\>G#1]-%TUR+&W$SLC,XC')3.PGW&XX-`%Z
MLS5O#VDZYY9U"S262/\`U<RL8Y8_]V12&7\#6G10!P7B;^VO!7AN_P!4L_$@
MGL[>$GR-7B,K`G.-DJ;7)R1@-N^H'(^0Y+JXFO'NY)I&N7D,K2EOF+DY+9]<
M\YKZ=^/GB9-*\*QZ7!?7L%[=M]RW`"O'R")&(X!P<`')P>U?+E`'UK-X_@B^
M"(\2R7=M>W9M!#ED^5[K&W#(>^[DCT&>!7$^$]0\`>,K/0+/6=-M[;Q)>NX:
M6R00@31])&5<+EP3_"1N!'88POA/X5\+^./#][H>J/J$.H+()XG1]J$#<,I_
M"Q&<$,"?0XR%FU[]G_Q%HUR+WP]>0ZI'%)O2)F\B88Y'.0#TQD,#TP!V`/4-
M1U67P1(MK%XPTF92?DL-1@`F`YX4VX!]!RAZ?E@67B7Q9XH\Z/4K'7[5TD81
M6NEHEA'<(-WS+-.1*Q(!X4*1U^G1>$KOPC!9VUB+.VT2]92USIE_!Y;M(<EB
MK2<N-RG!!88'3CC8OO$&D6T]SI<27FLRQ@9L;&`S-`>>LG"H<]`S`@]..@!S
M>ES-H@?4;3X<)'*68SW(O4DN$Y))D9QO)SGN1TYP..AE\>&Q=(]3\,:[:LR[
M@T<,=PC#!/RM$[9[<8SSTZXF77?$>%,?@V[88`9Y[ZW1V`[X5B/7CCKVYPR3
M6M1>S-K>>!]66%D*A+>>V8`#IC$HV]!@\8XQTX`/F[6M5\2Z[\4I]>M+:2"\
M@N0]K'=L(=B(V%7]X5].1QU/2O?/-\>>(&YN;+1K,DAH[!3-/M)(_P!;(H4=
M.JH?J.JW[ZY\0:RIMX?!EM$DJ_O)]7N8B@ZX^2+>S'@'!V]N1VJ6'PMT];AK
MO4;J3SG3:T.E;M/MP"<GY(F!.>Y9C_@`2:;\.=-2\.IWLEWJ&HX/EW&HN96`
M/08SQCTSC!XP<;>=^./B)/#G@9M+M7"7NK$0,OWBL('S\GU^[SV8XZ<=A-X`
M\+1(T[Z9/*5&?^/F>1FZ]MY)Z_R]*\X\1?#[2Y_*U*3P_%91X8/"SMO*;B"Z
MH&)PJL'(R"`"1TX`.0M/C3=Z=X"\.:7!F2^L;G;>>9R);9<[4Y'=6QUR-@(Z
M\>R3ZWH_BBQ']F>&;SQ+`T9/G/$L<6&!!423%0QQ@?+GH,GY>/)=#^#5GXKU
M>\:&]DTZS6(/&BJDA1MQ4+]\EAA<[N,^Q)`]R\$>&I_!OAB+1KC5/M\-LS&&
M5HO+*H3NVGD]"3W_`,``>9:7IZ:!\<?#<=IH$VAI?6ES%);R7B3!D5&8%0KM
MM&5'!X/IG-%=%X5E/C7XKZMXJ0-_96D0G2[!]WRS29)D<=B.3]0R^G!0!O?$
M'P9+XGL(+W2YS9^(-.8RV%TIVD-W1CC[I_SWJ'P5\08M>N7T+68?[,\36V5G
MLI,@2;<_-&3]X$#.!V]1S7<5S'C#P'HWC2VB%^DD-[;G-M?6YVS0GJ,'N,\X
M/Z'F@#IZ*\L36O'O@#]WK]B_B?14RPU#3TS=1(/^>B<9P.<_7+>G8>&_'GAK
MQ6-NDZI#)."0;:3]W,".3\C8)^HXH`P_'G@GPWXBN1>^(=0U.06Z"1+*"X^4
M*.NV,#OW;K[@`8PM"^&O@#Q!:W-K#X9EBMX"I2\>Z?S)&.<CAN",<@\<CCT]
M&NO#ME?WGVB^:>Z7!"P2R9B7)!^Z.O0=<_H*DTW0;#2<_8TDC!D=PHD.T;F+
M;<#C:"QP#T[4`<WX8^%VB>#]4-]H]YJL()):V-WF%N,?,N/F_')&!7;5G:QK
MVD^'[076K:A;V<))"M,X!8CDA1U)QSQ7-/\`$:*\60:!H6J:H5;8)6C%M"3@
MD_-)@]%/130!AK82?$:+74UJZ/F6L\UO:Z(9/+BA=-P1I0,/(3\K@D[<'@<5
MN^!=0TO2=-L/"9L9])U&U@`-K<Q;1,P'SO&XRLN3ELJ2>>0.0*B^&?$VIWM_
MK\EW8Z1K4MJMK;+;QO)&BAB=TA;'F-M8A3@;<\@G@94]IKVIV=SX3U*2.^UI
MI1/!=("1I$>3LG,V`3(2I**,,2#T7H`>JT4@!"@$DD#J>]+0`4444`%9M[H=
MCJ-TEQ>)),4^[&\K>6/?9G;GWQ_(8T'=8T9W8*B@EF8X`'J:XC7/BMX>TVZ&
MG:8TVO:LQVI9:6OG-GW8?*,=^I'I0!U$>E:7IS/=I!%`$=IV<MM5#LVL>N%&
MT#/;@'M7G.M>*=1^(]_-X6\%2F/30=FJ:X.41#G*1?WB1W'7/8<TI\)^,?B&
M\<OC2Z&CZ&6WC1+%_P!XX'02R?D<<_13T])TK2-/T/3X[#2[.&TM8_NQ1+@<
M]3[GWH`BT'0M/\-:+;:1ID/E6ENNU`3DDYR23W)))/UHK2HH`****`"N-\6?
M#7PWXF@FGDT>V_M/9^YN$=H#O'3<R#D?4'^5=E7,_$+Q!_PC'@+6-463RYT@
M,<#`X(E?Y4(^A(/X4`>+:!KWB"UTZ74=$\2:U;Z7:S>1,=;MOMEK&^3G]]'E
M@HR!G8!D@DC/'?0>-/B-I]O#-J'@RTUBU<;A=Z+>!E=><%5.XG/!_P`\<J\6
MO^!_@='I]QIUC)INH1;+F[C=O.MEGSEWB*X<@,`,,",#CN.ZB2?1?!VC^#?#
M-^)M5N+$M%>-DB"#&3.0>F20J`XY([*<`'!Q>/[*'7+C5?%>CZU97\P<(\]D
M<6<0+!(X\]L#+'`W-G/&-NJOQ+\,7^CWEM8>+8],O'1DAGFLY#Y7S'81D>FT
M8Y`QGL`.C^%%Y<^(?A'90O>W%O>1"6U:XC.9(V5SM/S@@G:5ZY'\JY?X>>)F
MU?7&\.>.=.L+N\O(Q=:9=2VD.+B+GCY5`_@R.,\,#R,4`7?!^OQ6.O"XU/Q[
MHTECY+9@75Y)][$\$^<<KM'IZ],#Y=O0_&'AG1_$^MV%QKVED7]RVH07@O$9
M'78JLCMG"LA0@`GE<8Y#`<SK^G:)X8U[48M5\/>&;C2;:".XB6+3!'=3O,TR
M10*5.W.4)+8Z#./[NJ_PND.F"Y70_"7VS;O_`+/.GOLSS\GG>9G//WMN"1T`
MQ@`[&X^(7@ZU)$OB?2@1V6Z1O;L>:R;SXR>`K('=K\<I&>((9),]>X7';'XB
MN,LET34I-#T2S\%Z'IOB+4FN9;CS[..46$<,DB$X/WV)0@#@9&>`!C>\0^&M
M:\%Z-/KWAO48;EK$&XFL+G3[=8Y$'+;#%&K(0,G@\XH`G;XQ6EV0-$\+^(M4
MW`D21V>R/C/5B>.AYQ61K?CSQY%8PWES8Z'X5L96P+C4+DW+]\[5C'7IP5_^
MMR^G:WI%YX^T.[UR\N;KPSJ^E2SQP:U=F>*UF!=9!\QV\&-@"1_&.G`'1>`]
M$T[5]8\<Z?HMRC^#KR,01Q!LJLSJ=S1J>0HR>>`>,9V_*`<OJ#?:-.L]<\<W
M_BG6]`N'PEQ`([>U.2<$Q*V[![$A.N/8>Z^'-!T#1-,B&@:?;6MK,@<-"F#(
M#R"S'YFZ]S7D?@FQUCQ9\,;SP$9+.W.GW;V=_/,[/+$@DW@)'M`)R&`)88V]
M/3VO3;"'2M+M-.M@1!:PI!'NZ[54*,_@*`+5%%%`!1110`4444`%<GXV^'^F
M>.K5(=2NK^+RU/EB"<A`W9BARI/OC/O7644`>:>,?!?BOQ'HJ:5>:Q:W>F0X
MDDAM+46]Q=LI^5"S.44=#D`#(Z=@GAOP=97%E>7WBK1;FSU:!VW2)<LJ0P+D
M11P21,#Y:QJO'7=DGFO3**`/"?AGXCTWPQ!XXTEKU[>UM9I;S3A>$QR2Q89<
M@-@D_(GH2371W_@V/Q5\*/#D^B3HNLZ990SZ==PN`?,5!E-W0`L/;!`Z8KTJ
M[T^RU!56]L[>Y"'*B:)7V_3(HLM/LM-B:*QL[>UC=R[)!$J!F/4D`=>!S[4`
M?-GB+7M4\4Z!-XKET^9)M)U&PCOH6&THT2R[CM[#?(!ZC/MQ]&Z7K6G:UH\.
MK:?=Q36,T?F+,&X`[Y]".A!Y!!!HBT33(1?JEC#MOY#)=HR[EF8@`E@>#D`5
MSD?PH\$0W3SIH,0\Q][Q>=*86/O%NV8]!MP*`.)\2ZS;Z9\3_#GQ!@D:;PY<
MPOIMQ=!&V1D.ZA\]U)((/((4XZBO2?$/B31M/\+W-_/?6\EM+`PA$<H8W!((
M"I@_,2>!BMI[:"2V-L\,;0%=AB*`KM],=,5F6'A/P[I5R+G3]"TVUG7.V2"U
M1&7/7!`X_P#K#TH`\)?0+_PCIGPXVZ?>W>N6=S-=W-C;0F5UBD<$Y4#`(`QR
M1SNYXR.ZOO"&LVWBVU\;^"(4MI+Q2FH:7?`VXE'/S$8X).#CKG![D5ZI10!Y
MUX5\!^(-'\5:GX@N==MK;^U)Q-=Z;9P>9$V,D8D?!!Y.2%'4^V/1:**`"BBB
(@`HHHH`__]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
