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Press Release Exhibit 99.1 GLEN BURNIE BANCORP For Immediate Release Date : August 5 , 2021 GLEN BURNIE BANCORP ANNOUNCES SECOND QUARTER 2021 RESULTS GLEN BURNIE , MD ( August 5 , 2021 ) - Glen Burnie Bancorp ( " Bancorp ” ) ( NASDAQ : GLBZ ) , the bank holding company for The Bank of Glen Burnie ( “ Bank ” ) , announced today net income of $ 480,000 , or $ 0.17 per basic and diluted common share for the three - month period ended June 30 , 2021 , as compared to a net loss of $ 96,000 , or $ 0.03 per basic and diluted common share for the three - month period ended June 30 , 2020. Bancorp reported net income of $ 1,074,000 , or $ 0.38 per basic and diluted common share for the six - month period ended June 30 , 2021 , compared to $ 174,000 , or $ 0.06 per basic and diluted common share for the same period in 2020. On June 30 , 2021 , Bancorp had total assets of $ 432.8 million . Bancorp , the oldest independent commercial bank in Anne Arundel County , paid its 116th consecutive quarterly dividend on July 30 , 2021. The Company recorded a net benefit of $ 67,000 from the release of allowance for credit losses loans ( " ACL - loans " ) for the second quarter of 2021 and $ 471,000 for the first half of 2021 compared to a provision for credit losses ( " PCL - loans ” ) of $ 487,000 for the second quarter of 2020 and $ 407,000 for the first half of 2020 . " We are very pleased to report another quarter of strong financial performance , ” said John D. Long , President and Chief Executive Officer . " The story for this quarter , and for the first six months of 2021 , is the release of ACL - loans compared to significant provision for loan loss during the quarter and the first half of 2020. Additionally , the Bank's continued realization of Paycheck Protection Program ( “ PPP ” ) loan fees due to ongoing PPP loan forgiveness by the SBA contributed to our strong performance . Our margin continues to be under pressure as deposit growth driven by government stimulus has far outpaced net loan decreases . Our challenge for the remainder of 2021 , and into 2022 , will be generating loan growth in the post - pandemic economy , but we are encouraged by the improving economic factors in our markets as the economy reopens . " " We remain committed to improving our noninterest income revenue streams and are very pleased with the success of recently introduced deposit products and services , along with the growth seen in other key fee income categories . Our desire to meet growth objectives in a cost - conscious manner remains a priority , and we will continue to regularly review our branch system and other expense categories to identify potential opportunities to conduct business more efficiently . " Highlights for the First Six Months of 2021 The Company recorded a PCL - loans benefit of $ 67,000 in the second quarter of 2021 as compared to a PCL - loans expense of $ 487,000 in the second quarter of 2020 , and a year - to - date PCL - loans benefit of $ 471,000 in 2021 as compared to a $ 407,000 PCL - loans expense for the same period in 2020. The $ 554,000 favorable decline in PCL - loans in the second quarter of 2021 as compared to the second quarter of 2020 , and the $ 878,000 favorable decrease in the first six months of 2021 compared to the same period in 2020 is due primarily to lower average balances on loans , and net recoveries of previously charged - off loan balances .