In the Q3, Glen Burnie Bancorp's corporate clients experienced a reduction by -6.9 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -25.86 %. During the corresponding time, Glen Burnie Bancorp recorded a revenue increase by 8.43 % year on year, sequentially revenue grew by 16.72 %. While revenue at the Glen Burnie Bancorp's corporate clients fell by -5.33 % year on year, sequentially revenue grew by 1 %.
Customers of Glen Burnie Bancorp saw their costs of revenue decrease by -6.9 % in Q3 compare to a year ago, sequentially costs of revenue were trimmed by -25.86 %, for the same period Glen Burnie Bancorp recorded revenue increase by 8.43 % year on year, sequentially revenue grew by 16.72 %.
Glen Burnie Bancorp's Comment on Sales, Marketing and Customers
The Bank considers its principal market area for lending and deposit products
to consist of Anne Arundel County, Maryland. Anne Arundel County includes mature
suburbs of the City of Baltimore, which in recent years have experienced modest
population growth and are characterized by an aging population. Management believes
that the majority of the working population in its market area either commutes
to Baltimore or is employed at businesses located at or around the nearby Baltimore
Washington International Airport. Anne Arundel County is generally considered
to have more affordable housing than other suburban Baltimore areas and attracts
younger persons and minorities on this basis.
Glen Burnie Bancorp’s Comment on Sales, Marketing and Customers
The Bank considers its principal market area for lending and deposit products
to consist of Anne Arundel County, Maryland. Anne Arundel County includes mature
suburbs of the City of Baltimore, which in recent years have experienced modest
population growth and are characterized by an aging population. Management believes
that the majority of the working population in its market area either commutes
to Baltimore or is employed at businesses located at or around the nearby Baltimore
Washington International Airport. Anne Arundel County is generally considered
to have more affordable housing than other suburban Baltimore areas and attracts
younger persons and minorities on this basis.
Sources:
Glen Burnie Bancorp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Glen Burnie Bancorp’s corporate clients.
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