Glen Burnie Bancorp NT 10-K, filed Mar 26, 2025
Glen Burnie Bancorp (GLBZ)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
SEC File Number: 000-24047
CUSIP Number: 377407101
NOTIFICATION OF LATE FILING
(Check one): x Form 10-K ¨ Form 20-F ¨ Form 11-K ¨ Form 10-Q
¨ Form 10-D ¨ Form N-SA ¨ Form N-CSR
For Period Ended: December 31, 2024
| o Transition Report on Form 10-K | o Transition Report on Form 10-Q |
| o Transition Report on Form 20-F | o Transition Report on Form N-SAR |
| o Transition Report on Form 11-K |
For the Transition Period Ended:
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: ______________________________________________________
PART I
REGISTRATION INFORMATION
Full Name of Registrant: Glen Burnie Bancorp
Former Name if Applicable: N/A
Address of Principal Executive Office (Street and Number): 101 Crain Highway, S.E.
City, State and Zip Code: Glen Burnie, Maryland 21061
PART II
RULE 12b-25 (b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25 (b), the following should be completed. (Check box if appropriate)
| x | (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
| x | (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report of Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and |
| ¨ | (c) The accountant’s statement or other exhibit required by Rule 12-b-25 (c) has been attached if applicable. |
PART III
NARRATIVE
State below in reasonable detail the reasons why the form 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
Due to staffing reductions and concurrent regulatory reporting obligations, the Registrant has experienced delays in completing all procedures required by auditing standards. Additional time is needed to complete these procedures.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification.
| Jeffrey D. Harris | (410) | 768-8883 | ||
| (Name) | (Area Code) | (Telephone Number) |
(2) Have all other periodic reports required under section 13 or 15(d) of the Securities Exchange Act of 1934 or section 30 of Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).
x Yes ¨ No
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
x Yes ¨ No
If so: attach an explanation of the anticipated change both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
Glen Burnie Bancorp
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: March 26, 2025 | By: | /s/ Jeffrey D. Harris | |
| Jeffrey D. Harris | |||
| Senior Vice President and | |||
| Chief Financial Officer |
GLEN BURNIE BANCORP
FORM 12b-25
FISCAL YEAR ENDED DECEMBER 31, 2024
PART IV, ITEM 3
The Registrant anticipates lower net income for the fiscal year ended December 31, 2024, as compared to net operating results for the prior year. However, inasmuch as the Registrant has not yet completed its financial statements, at this time the Registrant is unable to definitively quantify its results of operations.