GLEN BURNIE BANCORP (NASDAQ:GLBZ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
On February 15, 2018, Karen B. Thorwarth, a member of the Board of Directors of Glen Burnie Bancorp (the “Company”) since 1995, notified the Company that, due to personal reasons, she has determined to not stand for re-election upon the expiration of her current term as a Director at the upcoming Annual Meeting of Shareholders to be held on May 9, 2019.
About GLEN BURNIE BANCORP (NASDAQ:GLBZ)
Glen Burnie Bancorp is the bank holding company for The Bank of Glen Burnie (the Bank), a commercial bank. The Bank is engaged in the commercial and retail banking business, including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships and corporations. Its real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. Its lending activities include residential and commercial real estate loans, construction loans, land acquisition and development loans, and consumer installment lending, including indirect automobile lending. Its deposit products include regular savings accounts (statements), money market deposit accounts, demand deposit accounts, negotiable order of withdrawal (NOW) checking accounts, individual retirement account (IRA) and simplified employee pension (SEP) accounts, Christmas club accounts and certificates of deposit.
