10 Worst Performing Bank Stocks in 2024

4. Glen Burnie Bancorp (NASDAQ:GLBZ

Price: $4.85

Number of Hedge Fund Holders: NA

1-Year Price Performance: -25.95%

Glen Burnie Bancorp (NASDAQ:GLBZ) is a bank holding company that owns The Bank of Glen Burnie, a commercial bank operating in Maryland. The Bank provides a range of financial services, including commercial and retail banking, real estate financing, commercial lending, and automobile loans.

The company faced challenges due to changes in interest rates over recent years. During the fiscal fourth quarter of 2024, the company reported a net loss of $39,000, in contrast to a net income of $167,000 in the same period last year. Despite the losses, the management was able to grow loans by $28.9 million year-over-year. However, the net interest income decreased by 9.84% compared to $12.1 million last year. This decrease was primarily due to a significant increase in interest expenses. Moreover, the management has also suspended the quarterly dividend payments to shareholders and plans to strategically invest in opportunities for long-term growth. Management aims for organic loan and deposit growth while maintaining strong capital levels and conservative lending policies. It is one of the worst-performing bank stocks in 2024.