Unassociated Document
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): May 6, 2009
GLEN
BURNIE BANCORP
(Exact
name of registrant as specified in its charter)
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Maryland
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0-24047
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52-1782444
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(State
or Other Jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
Incorporation)
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Identification
No.)
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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)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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INFORMATION
TO BE INCLUDED IN THE REPORT
On May 6, 2009, Glen Burnie Bancorp
(the “Company”) mailed a letter to its record shareholders correcting an error
contained in the Company’s February 5, 2009 press release announcing the results
of operations for its fiscal quarter and fiscal year ended December 31, 2008,
and in the Company’s 2008 Annual Report mailed to shareholders. A
copy of the letter 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 Letter
to Shareholders dated May 5, 2009
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.
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GLEN
BURNIE BANCORP
(Registrant) |
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Date:
May 6, 2009
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By:
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/s/ Michael
G. Livingston |
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Michael
G. Livingston |
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Chief
Executive Officer |
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[GLEN
BURNIE BANCORP LETTERHEAD]
May 5,
2009
Dear
Fellow Shareholder:
I am writing to you to correct a
typographical, but serious, error contained on page 2 of our 2008 Annual Report,
which we recently mailed to you. This error also appeared in the
Press Release which we issued on February 5, 2009 setting forth the results of
our operations for the year ended December 31, 2008.
As reported on page 27 of our Annual
Report on Form 10-K, as filed with the SEC, and on page 13 of our 2008 Annual
Report which we mailed to you, our total stockholders’ equity as of December 31,
2008 decreased by $1,827,902, or 6.15% from the 2007 period. This
decrease was attributed to an increase in accumulated other comprehensive loss,
net of tax, and the excess of the cash dividends paid and common stock shares
repurchased and retired over the net income for 2008. Unfortunately,
due to an oversight, our Press Release and my letter and the following
highlights contained in our 2008 Annual Report, erroneously stated that total
stockholders’ equity increased
by 6.15% from the 2007 period, when actually total stockholders’ equity decreased
by 6.15% in 2008.
While the Bank of Glen Burnie has not
been immune to the impact of the economic downturn in the United States during
2008, we are proud that we realized net income of $403,962 for 2008, saw
continued growth in our loan portfolio, remained well capitalized and did not
need to apply for any funding from the U.S. Department of Treasury’s Troubled
Asset Relief Program (“TARP”).
We apologize for the error and any
confusion this may have caused, and look forward to greeting you at our Annual
Meeting on May 14.
Very truly yours,
/s/
Michael G. Livingston
President
and CEO