格伦伯尼万通金控 2024年度报告

FORM10-K ☒Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year endedDecember 31, 2024or☐Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period fromto Commission file number:0-24047 Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes◻No⌧ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes⌧No◻ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained,to the best of registrant’s knowledge, in definitive proxy or information statement incorporated by reference in Part III of this Form 10-K or anyamendment to this Form 10-K.⌧ Indicate by check mark if the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large Accelerated Filer◻Accelerated Filer◻Non-Accelerated Filer⌧Smaller Reporting Company⌧Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section404(b)oftheSarbanes‐OxleyAct(15U.S.C.7262(b))bythe registered public accountingfirm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant includedin the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No⌧ The aggregate market value of the registrant’s outstanding common equity held by non-affiliates was $9,843,992, computed by reference to theclosing sales price of such equity as of the last business day of the registrant’s most recently completed second fiscal quarter (June 30, 2024).Forthe purposes of this calculation, directors, executive officers, and controlling investors are considered affiliates. Securities registered pursuant to Section 12(b) of the Act: The number of shares of common stock outstanding as of March 19, 2025, was2,900,681. Documents Incorporated By Reference Portions of the registrant’s definitive proxy statement for the 2025 Annual Meeting of Stockholders to be filed with the SEC pursuant toRegulation 14A are incorporated by reference into Part III of this Annual Report on Form 10-K. GLEN BURNIE BANCORP 2024 ANNUAL REPORT ON FORM 10-K Table of Contents PART I Item 1.Business3Item 1C.Cybersecurity15Item 2.Properties16Item 3.Legal Proceedings16Item 4.Mine Safety Disclosures16Executive Officers of the Registrant17 PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities18Item 6.Selected Financial Data18Item 7.Management’sDiscussion and Analysis of Financial Condition and Results ofOperations18Item 7A.Quantitative and Qualitative Disclosures About Market Risk41Item 8.Financial Statements and Supplementary Data41Item 9.Changesin and Disagreements with Accountants on Accounting and FinancialDisclosure41Item 9A.Controls and Procedures41Item 9B.Other Information43 PART III Item 10.Directors, Executive Officers and Corporate Governance43Item 11.Executive Compensation43Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters43Item 13.Certain Relationships and Related Transactions, and Director Independence43Item 14.Principal Accountant Fees and Services43 PART IV