Glen Burnie Bancorp Names Felton Magee Jr. to the Board of Directors
September 16 2024 - 10:11AM
Glen Burnie Bancorp (NASDAQ: GLBZ), the parent company of The Bank
of Glen Burnie®, named Felton Magee Jr. to the Board of Directors,
announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp
and The Bank of Glen Burnie.
“Felton is an accomplished business leader with a proven track
record of identifying and implementing strategies for accelerating
growth,” said Hanna. “He has skillfully navigated challenging
situations using his expertise to streamline business processes,
boost profitability, and deliver impactful results. Felton strikes
the perfect balance between analytical precision and a
people-centered approach. In a word, our goal is growth—growing the
Bank, growing our people, and growing how we serve our communities.
I’m confident Felton will play a key role in helping us achieve
this objective.”
Glen Burnie Bancorp Chairman of the Board John E. Demyan stated,
“The Bank has 75 years of strength and soundness to build on and is
well-positioned for the opportunities that lie ahead. Over the past
year, we have purposed to bring in new perspectives for the Bank
and the Board. Felton is a testament to that objective, offering a
rare and valuable caliber of expertise in process improvement. I am
excited to work alongside him as we continue to grow The Bank of
Glen Burnie.”
Magee grew up in New Orleans, Louisiana, and moved to Upper
Marlboro, Maryland, as a young teen. He completed his undergraduate
studies at Bowie State University with a Bachelor of Science in
Banking and Finance and earned a Master of Business Administration
from Loyola University. Magee is Lean Six Sigma-certified and is a
certified Project Management Professional; designations that
demonstrate expertise in streamlining processes, improving
efficiency, and reducing waste while enhancing quality.
A United States Air Force veteran, Magee started his career in
the civil engineering squadron. Following his military service, he
worked for the United Parcel Service for nearly a decade as a
finance manager, then served in leadership positions of progressive
responsibility at Arthur Andersen Management Consulting; Thompson,
Cobb, Bazilio & Associates (later Bazilio, Cobb &
Associates); and Promesa Consulting Group, Inc. Magee also served
as chief financial officer at Family Matters of Greater Washington.
At each of these organizations, he brought to bear financial acumen
and leadership skills to improve cost, quality performance, and
growth.
More recently, Magee served as president and CEO of Regent
HealthCare, Inc., Maryland's largest non-franchised private pay
home care company. During that time, he oversaw two successful
acquisitions that doubled the company's size and expanded
operations to include Southern Maryland and Maryland's Eastern
Shore. He is now the president and CEO of Regent Healthcare
Holdings and is active in real estate development.
"I am excited to join the Board and help build on the bank's
already impressive legacy,” said Magee. “As a community bank, The
Bank of Glen Burnie is an essential source of funding for small
businesses, both those starting up and established companies
accessing the cash they need to grow. The Bank has been a steady
presence for seven-and-a-half decades and is well-positioned to
accelerate its growth. As a Board member, I aim to leverage my
experience improving business performance to help The Bank of Glen
Burnie reach new heights."
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 eight Anne Arundel County
branches. The Bank is engaged in commercial and retail banking,
including accepting demand and time deposits and originating loans
to individuals, associations, partnerships, 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
The statements contained herein that are not historical
financial information may be deemed to constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to certain risks
and uncertainties, which could cause the company’s actual results
in the future to differ materially from its historical results and
those presently anticipated or projected. These statements are
evidenced by terms such as “anticipate,” “estimate,” “should,”
“expect,” “believe,” “intend,” and similar expressions. Although
these statements reflect management’s good faith beliefs and
projections, they are not guarantees of future performance and they
may not prove true. For a more complete discussion of these and
other risk factors, please see the Company’s reports filed with the
Securities and Exchange Commission.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b13074f4-6876-4ed9-8bc4-3d8a9d53f794
For further information, contact:
Janet Kim | Director of Marketing and Public Relations
410-768-8857
JKim@BoGB.net
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