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Parent Company Financial Information | 12 Months Ended
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Dec. 31, 2024
Parent Company Financial Information |
Parent Company Financial Information | Note 18. Parent Company Financial Information The Balance Sheets, Statements of Income, and Statements of Cash Flows for Glen Burnie Bancorp (Parent Only) are presented below: ___________________________________________Balance Sheets________________________________________
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2024 |  | 2023 |
(dollars in thousands) | ​ | ​ | ​
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash | ​ | $ | 32 | ​ | $ | 88 | ​
Investment in The Bank of Glen Burnie | ​ |  | 17,726 | ​ |  | 19,227 | ​
Other assets | ​ |  | 59 | ​ |  | 10 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets | ​ | $ | 17,817 | ​ | $ | 19,325 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders’ Equity | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Stockholders’ equity: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Common stock | ​ |  | 2,901 | ​ |  | 2,883 | ​
Surplus | ​ |  | 11,037 | ​ |  | 10,964 | ​
Retained earnings | ​ |  | 22,882 | ​ |  | 23,859 | ​
Accumulated other comprehensive loss, net of benefits | ​ |  | (19,003) | ​ |  | (18,381) | ​
Total stockholders’ equity | ​ |  | 17,817 | ​ |  | 19,325 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities and stockholders’ equity | ​ | $ | 17,817 | ​ | $ | 19,325 | ​
​ __________________________________________Statements of Income___________________________________ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ended December 31, |  | 2024 |  | 2023 |
(dollars in thousands) | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends and distributions from subsidiary | ​ | $ | 990 | ​ | $ | 1,210 | ​
Other expenses | ​ |  | (282) | ​ |  | (205) | ​
Income before income tax benefit and equity in undistributed net income of subsidiary | ​ |  | 708 | ​ |  | 1,005 | ​
Income tax benefit | ​ |  | 59 | ​ |  | 43 | ​
Change in undistributed equity of subsidiary | ​ |  | (879) | ​ |  | 381 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (loss) income | ​ | $ | (112) | ​ | $ | 1,429 | ​
​ ___________________________________Statements of Cash Flows_______________________________________
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ended December 31, |  | 2024 |  | 2023 |
​ | ​ | (dollars in thousands) | ​
Cash flows from operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (loss) income | ​ | $ | (112) | ​ | $ | 1,429 | ​
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Increase in other assets | ​ |  | (48) | ​ |  | (8) | ​
Change in undistributed equity of subsidiary | ​ |  | 879 | ​ |  | (381) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash provided by operating activities | ​ |  | 719 | ​ |  | 1,040 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from dividend reinvestment plan | ​ |  | 91 | ​ |  | 120 | ​
Dividends paid | ​ |  | (865) | ​ |  | (1,149) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash used in financing activities | ​ |  | (774) | ​ |  | (1,029) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Decrease) increase in cash | ​ |  | (55) | ​ |  | 11 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, beginning of year | ​ |  | 88 | ​ |  | 77 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, end of year | ​ | $ | 32 | ​ | $ | 88 | ​
​

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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