Photo Courtesy Glen Burnie Bancorp
GLEN BURNIE, MD – Glen Burnie Bancorp (OTCQX: GLBZ), the parent company of The Bank of Glen Burnie®, named John Stamato to the Board of Directors, announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie.
"A lifelong resident of Anne Arundel County, John has deep roots in our community and is a prominent real estate developer and business leader," commented Hanna. “This appointment is another strong step forward as we continue to invigorate our board with a group of leaders that possess a deep understanding of the local business community and the unique needs of the area. John brings innovative ideas, new perspectives, and deep connections that will help drive growth as we continue to expand our commercial banking capabilities.”
“I have worked with John for decades and we are pleased to welcome him to the Board,” added Jay Baldwin, Chairman of the Glen Burnie Bancorp Board. “His collaborative style along with his storied real estate development career has honed his ability to rapidly identify new opportunities and strategically guide projects from concept to completion while maximizing assets and creating value. He has built one of the most successful land development companies in the region and his strengths will be an asset to our strategic growth initiatives.”
A native of Anne Arundel County and current Severna Park resident, Stamato has been actively involved in residential and commercial land development in the Mid-Atlantic region for more than 30 years. As founder and President of Millersville-based Ribera Development, LLC, Stamato’s development work has focused on land use entitlements for residential and mixed-use development projects across Maryland and Delaware.
“I am excited to apply the skills I’ve developed to bring momentum to the renewed growth and energy we are seeing at The Bank of Glen Burnie and Bancorp,” commented Stamato. “I am passionate about developing partnerships in the area and my experience in the business community and developing properties will bring new connections to the bank. I look forward to building productive relationships while working alongside an energetic executive team and Board of Directors.”
A graduate of Arundel High School, Stamato attended the University of Maryland and holds a bachelor’s degree in business administration with a concentration in marketing from West Virginia University. He is involved in numerous charitable and philanthropic activities, serving as a current member of the Severn School Board of Trustees. Additionally, he is a long-term supporter of the Smithsonian Environmental Research Center as a member of its advisory board and is an active member of the Urban Land Institute.
About Glen Burnie Bancorp: Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with six Anne Arundel County branches and a loan production office in Annapolis, Maryland. The Bank is engaged in commercial and retail banking, including accepting demand and time deposits and originating loans to individuals, associations, partnerships, non-profits, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at thebankofglenburnie.com.
Forward-Looking Statements: Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Forward-looking statements are often identified by words such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “may,” “should,” or similar expressions. These statements are not guarantees of future performance and involve known and unknown risks and uncertainties. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
