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Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2022

Parent Company Financial Information

Schedule of balance sheets statement

___________________________________________Balance Sheets________________________________________

​	​	​	​	​	​	​	​
December 31,		2022			2021
(dollars in thousands)	​	​					​
Assets	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​
Cash	​	$	77	​	$	99	​
Investment in The Bank of Glen Burnie	​		15,975	​		35,614	​
Other assets	​		2	​		3	​
​	​	​	​	​	​	​	​
Total assets	​	$	16,054	​	$	35,716	​
​	​	​	​	​	​	​	​
Liabilities and Stockholders’ Equity	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​
Stockholders’ equity:	​	​	​	​	​	​	​
Common stock	​		2,865	​		2,854	​
Surplus	​		10,862	​		10,759	​
Retained earnings	​		23,579	​		22,977	​
Accumulated other comprehensive loss, net of benefits	​		(21,252)	​		(874)	​
Total stockholders’ equity	​		16,054	​		35,716	​
​	​	​	​	​	​	​	​
Total liabilities and stockholders’ equity	​	$	16,054	​	$	35,716	​

​

Schedule of income statement

__________________________________________Statements of Income___________________________________

​

​	​	​	​	​	​	​	​
Year Ended December 31,		2022			2021
(dollars in thousands)	​	​					​
​	​	​	​	​	​	​	​
Dividends and distributions from subsidiary	​	$	1,210	​	$	1,200	​
Other expenses	​		(243)	​		(245)	​
Income before income tax benefit and equity in undistributed net income of subsidiary	​		967	​		955	​
Income tax benefit	​		39	​		44	​
Change in undistributed equity of subsidiary	​		739	​		1,517	​
​	​	​	​	​	​	​	​
Net income	​	$	1,745	​	$	2,516	​

​

Schedule of cash flow statement

___________________________________Statements of Cash Flows_______________________________________

​	​	​	​	​	​	​	​
Year Ended December 31,		2022			2021
​	​	(dollars in thousands)					​
Cash flows from operating activities:	​	​	​	​	​	​	​
Net income	​	$	1,745	​	$	2,516	​
Adjustments to reconcile net income to net cash provided by operating activities:	​	​	​	​	​	​	​
Increase in other assets	​		—	​		(3)	​
Change in undistributed equity of subsidiary	​		(739)	​		(1,517)	​
​	​	​	​	​	​	​	​
Net cash provided by operating activities	​		1,006	​		996	​
​	​	​	​	​	​	​	​
Cash flows from financing activities:	​	​	​	​	​	​	​
Proceeds from dividend reinvestment plan	​		115	​		130	​
Dividends paid	​		(1,143)	​		(1,138)	​
​	​	​	​	​	​	​	​
Net cash used in financing activities	​		(1,028)	​		(1,008)	​
​	​	​	​	​	​	​	​
Decrease in cash	​		(22)	​		(12)	​
​	​	​	​	​	​	​	​
Cash, beginning of year	​		99	​		111	​
​	​	​	​	​	​	​	​
Cash, end of year	​	$	77	​	$	99	​

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Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Paragraph (a)
-Subsection 04

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Paragraph (a)
-Subsection 04

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Paragraph (a)
-Subsection 04

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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