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Article: Glen Burnie Bancorp Releases First Quarter Earnings; Ten Cent Dividend Paid to Shareholders
- Article from:
- PR Newswire
- Article date:
- May 14, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GLEN BURNIE, Md., May 14 /PRNewswire/ -- Glen Burnie Bancorp (OTC Bulletin Board: GLBZ) (GLBZ), parent company of The Bank of Glen Burnie, today released results for the first quarter and announced the distribution of a quarterly shareholder dividend.
The company realized net income of $3,000, or $.0027 per share in the quarter ended March 31, 1998. The performance was affected by an extraordinary charge of $270,000 in the first quarter, related to expenses incurred as a result of the proxy fight and takeover attempt by First Mariner Bancorp. For the comparable quarter a year ago, the company reported net income of $375,000 or $0.34 per share.
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