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): JUNE 16, 1998
(MAY 28, 1998)
GLEN BURNIE BANCORP
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(Exact name of registrant as specified in its charter)
MARYLAND 0-24047 52-1782444
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
101 CRAIN HIGHWAY, S.E., GLEN BURNIE, MARYLAND 21227
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(410)766-3300
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Not Applicable
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
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By letters dated May 28, 1998 and June 2, 1998,
respectively, the Federal Deposit Insurance Corporation ("FDIC")
and the Maryland Commissioner of Financial Regulation (the
"Commissioner") advised the Registrant's principal subsidiary,
The Bank of Glen Burnie (the "Bank") that the Memorandum of
Understanding into which the Bank's Board of Directors had
previously entered with the FDIC and the Commissioner has been
terminated.
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, hereunto duly
authorized.
GLEN BURNIE BANCORP
Date: June 16, 1998 By: /s/ F. William Kuethe, Jr.
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F. William Kuethe, Jr.
President