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Mark Christopher Hanna, the President and CEO of Glen Burnie Bancorp (NASDAQ:GLBZ), recently acquired additional shares of the company. According to a recent SEC filing, Hanna purchased a total of 3,000 shares of Glen Burnie Bancorp common stock on March 6, 2025. The shares were bought at prices ranging from $4.99 to $5.00 per share, amounting to a total transaction value of $14,998. The purchase comes as the stock trades near its 52-week low, with an attractive 8% dividend yield that has been maintained for 28 consecutive years, according to InvestingPro data.
Following these transactions, Hanna now directly owns 10,841 shares of the company. This acquisition reflects continued confidence in the company’s future prospects, despite the bank’s challenging performance with a YTD decline of 14% and current market capitalization of $14.5 million. Glen Burnie Bancorp is headquartered in Glen Burnie, Maryland, and operates as a state commercial bank. InvestingPro analysis reveals several additional insights about the company’s financial health and valuation metrics, with more than 30 key indicators available to subscribers.
In other recent news, Glen Burnie Bancorp has announced the departure of Andrew J. Hines, a key executive who served as the Executive Vice President since 2017 and Chief Lending Officer since 2014. The news of Hines’s exit was disclosed through a filing with the Securities and Exchange Commission. While the reasons for his departure were not provided, Hines’s role in the Bank’s lending operations has been significant over his decade-long tenure. This change marks a notable shift in the Bank’s executive team. The company has not yet announced a successor or any plans for transitioning Hines’s responsibilities. Investors and customers are likely to monitor how this executive departure might affect the Bank’s strategy and operations. These developments come as Glen Burnie Bancorp continues its operations as a state commercial bank headquartered in Glen Burnie, Maryland.
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