8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 15, 2013

GLEN BURNIE BANCORP

(Exact name of registrant as specified in its charter)

Maryland	0-24047	52-1782444
(State or Other Jurisdiction	(Commission File Number)	(IRS Employer
of Incorporation)		Identification No.)

101 Crain Highway, S.E., Glen Burnie, Maryland 21061

(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (410) 766-3300

Inapplicable

(Former Name or Former Address if Changed Since Last Report)

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:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

INFORMATION TO BE INCLUDED IN THE REPORT

Item 2.02.      Results of Operations and Financial Condition.

On February 15, 2013, Glen Burnie Bancorp (the “Company”) announced its results of operations for its fiscal quarter and fiscal year ended December 31, 2012. A copy of the Company’s press release announcing such results dated February 15, 2013 is attached hereto as Exhibit 99.1. This Form 8-K and the attached exhibit are furnished to, but not filed with, the Securities and Exchange Commission (“SEC”) and shall not be deemed to be incorporated by reference into any of the Company’s filings with the SEC under the Securities Act of 1933.

Item 9.01.      Financial Statements and Exhibits.

(c) Exhibits

The following exhibits are filed herewith:

Exhibit No.
99.1	Press Release dated February 15, 2013

SIGNATURES

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.

	GLEN BURNIE BANCORP
	(Registrant)
Date: February 15, 2013	By:	/s/ Michael G. Livingston
		Michael G. Livingston
		Chief Executive Officer

EX-99.1

Exhibit 99.1

	NEWS RELEASE
	FOR IMMEDIATE RELEASE

Contact: Yvonne “Rie” Atkinson
	410-768-8857 (office)
	ratkinson@bogb.net

Glen Burnie Bancorp Announces 2012 4Q and Year End Earnings

GLEN BURNIE, MD (February 15, 2013) – Glen Burnie Bancorp (NASDAQ: GLBZ), parent company of The Bank of Glen Burnie^Ò, today reported fourth quarter and year end earnings for 2012.

For the quarter ended December 31, 2012, the company realized net earnings of $609,000 or $0.23 per basic and diluted earnings per share as compared to net earnings of $756,000 or $0.28 basic and diluted earnings per share for the same period in 2011. Net interest income after provisions for credit losses for the fourth quarter of 2012 was $2,961,000 compared to $2,984,000 for the same three-month period in 2011.

Net income for the year ended December 31, 2012 was $2,665,080 or $0.98 per basic and diluted earnings per share as compared to net income of $2,993,093 or $1.10 per basic and diluted earnings per share in 2011. Net interest income after provisions for credit losses for the year ended December 31, 2012 was $12,312,134 as compared to $12,786,385 in 2011. Assets as of December 31, 2012 were $387,438,269 as compared to $365,260,263 as of December 31, 2011.

2012 Performance Highlights:

· 7.26% increase in loans, net of allowance

· 6.52% increase in deposits

· 6.07% increase in total assets

· 7.61% increase in stockholder’s equity

Michael G. Livingston, President and Chief Executive Officer, stated “The bank is proud to report positive results for year end December 31, 2012. The Bank continues to see signs of the economy stabilizing with an increase in assets, driven by improving loan demand and loan growth.” Mr. Livingston added “We appreciate the confidence our customers have shown in our bank which has resulted in deposit growth for year end December 31, 2012. With the loan and deposit growth the bank maintained profitability and paid dividends for the year.”

Glen Burnie Bancorp declared four regular dividends in 2012, totaling forty cents ($0.40) per common share. On December 28, 2012, Glen Burnie Bancorp paid its 82^nd consecutive dividend to shareholders of record at the close of business on December 20, 2012.

Glen Burnie Bancorp, parent company to The Bank of Glen Burnie^Ò, currently maintains consolidated assets totaling more than $387 million. Founded in 1949, The Bank of Glen Burnie^Ò is a community bank with eight branch offices serving Anne Arundel County. www.thebankofglenburnie.com

# # # #

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’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’s reports filed with the Securities and Exchange Commission.

Glen Burnie Bancorp and Subsidiaries

Condensed Consolidated Balance Sheets

(dollars in thousands)

	(unaudited)		(unaudited)
	December		December
	31, 2012		31, 2011
Assets
Cash and due from banks	$	9,332	$	6,877
Interest bearing deposits		6,627		2,423
Federal funds sold		2,669		654
Investment securities		100,490		102,867
Loans, net of allowance		249,632		232,734
Premises and equipment at cost, net of accumulated depreciation		3,873		4,108
Other real estate owned		478		1,111
Other assets		14,337		14,486
Total assets	$	387,438	$	365,260
Liabilities and Stockholders' Equity
Liabilities:
Deposits	$	332,289	$	311,945
Short-term borrowings		-		255
Long-term borrowings		20,000		20,000
Other liabilities		1,562		1,849
Total liabilities		353,851		334,049
Stockholders' equity:
Common stock, par value $1, authorized 15,000,000 shares; issued and outstanding December 31, 2012 2,736,978; December 31, 2011 2,717,909 shares		2,737		2,718
Surplus		9,605		9,438
Retained earnings		18,783		17,209
Accumulated other comprehensive gain, net of tax benefits		2,462		1,846
Total stockholders' equity		33,587		31,211
Total liabilities and stockholders' equity	$	387,438	$	365,260

Glen Burnie Bancorp and Subsidiaries

Condensed Consolidated Statements of Income

(dollars in thousands, except per share amounts)

	Three Months Ended					Twelve Months Ended
	December 31,					December 31,
	(unaudited)					(unaudited)
	2012		2011			2012		2011
Interest income on
Loans, including fees	$	3,191	$	3,410		$	13,123	$	13,898
U.S. Government agency securities		189		328			894		1,489
State and municipal securities		423		415			1,706		1,606
Other		25		21			94		139
Total interest income		3,828		4,174			15,817		17,132
Interest expense on
Deposits		606		740			2,611		3,038
Short-term borrowings		-		-			2		4
Long-term borrowings		161		162			642		641
Total interest expense		767		902			3,255		3,683
Net interest income		3,061		3,272			12,562		13,449
Provision for credit losses		100		288			250		663
Net interest income after provision for credit losses		2,961		2,984			12,312		12,786
Other income
Service charges on deposit accounts		159		158			575		627
Other fees and commissions		214		231			817		862
Other non-interest income		6		(22	)		20		(47	)
Income on life insurance		62		59			247		240
Gains on investment securities		45		63			163		408
Total other income		486		489			1,822		2,090
Other expenses
Salaries and employee benefits		1,694		1,639			6,812		6,575
Impairment of securities		-		-			-		22
Occupancy		214		207			804		847
Other expenses		778		796			3,179		3,672
Total other expenses		2,686		2,642			10,795		11,116
Income before income taxes		761		831			3,339		3,760
Income tax expense		152		75			674		767
Net income	$	609	$	756		$	2,665	$	2,993
Net income per share of common stock	$	0.23	$	0.28		$	0.98	$	1.10
Weighted-average shares of common stock outstanding		2,733,533		2,717,906			2,728,072		2,710,455