Local Business Leader Jay Baldwin Named to Glen Burnie Bancorp Board of Directors
Glen Burnie Bancorp (NASDAQ: GLBZ) has appointed Joseph G. 'Jay' Baldwin to its Board of Directors, signaling a renewed focus on being 'the bank for business' in Anne Arundel County. Baldwin, president and CEO of Reliable Contracting Company, brings extensive business leadership experience and deep community roots. His appointment coincides with the bank's 75th anniversary and follows the retirement of Charles F. Lynch Jr.
Baldwin's diverse background includes founding Reliable Commercial Construction and Reliable Real Estate Services, as well as leadership roles in various construction industry associations. His appointment is expected to contribute to the bank's growth strategy and adaptation to changing community needs. The move aligns with Glen Burnie Bancorp's efforts to strengthen its position in serving small-to-mid-sized businesses in the region.
- Appointment of a well-respected local business leader to the Board of Directors
- Strategic focus on becoming the go-to bank for small-to-mid-sized businesses
- Alignment of new board member's experience with the bank's growth strategy
- Timing of appointment coincides with the bank's 75th anniversary, potentially boosting brand visibility
- None.
Baldwin’s appointment signals a renewed emphasis for The Bank of Glen Burnie on being “the bank for business” in Anne Arundel County and the surrounding market.
GLEN BURNIE, Md., July 15, 2024 (GLOBE NEWSWIRE) -- Glen Burnie Bancorp (NASDAQ: GLBZ), the parent company of The Bank of Glen Burnie®, named Joseph G. “Jay” Baldwin to the Board of Directors, announced Mark C. Hanna, President and CEO of Glen Burnie Bancorp and The Bank of Glen Burnie. Baldwin’s appointment to the Board follows the retirement of former member Charles F. “Derick” Lynch Jr.
"Jay is deeply rooted in our community and is a well-respected business leader," commented Hanna. “He will be a key voice as we reintroduce The Bank of Glen Burnie to the community as the go-to bank for small-to-mid-sized businesses. Jay understands the importance of honoring legacy and tradition while simultaneously adapting and growing to serve the changing needs of our community. In August, we will celebrate the Bank’s 75th anniversary. This is an excellent moment to appreciate the events and people who have shaped the Bank, while looking forward to the next chapter of this storied company.”
Chairman of the Glen Burnie Bancorp Board John E. Demyan shared, “To build on the decades of success we’ve had as a Bank, we must grow alongside the people and businesses we serve. Jay will bring an invaluable point of view to our discussions and decision-making. In addition to his intellect and drive, he knows what it takes to steward a company that has served customers for generations. We are pleased to welcome him to the Board.”
A native of Anne Arundel County, Baldwin has served as president and CEO of Reliable Contracting Company, Inc., since 2002. He is a third-generation leader; his family founded Reliable in 1928. Since then, it has grown into one of Maryland’s largest site work, road, and highway construction companies. An alumnus of the University of Maryland, Baldwin began working at Reliable while in high school and became a full-time employee after graduating from college in 1986. Later in his career, he founded Reliable Commercial Construction and Reliable Real Estate Services and, through Reliable, purchased a majority stake in Environmental Quality Resources.
“My perspective as a member of the Board will be shaped by a number of influences,” commented Baldwin. “They include my passion for Anne Arundel County, my experience as both a business leader and entrepreneur and my experience at a number of organizations I’ve had the pleasure of working with throughout my career. With solid financial performance, well-positioned locations, and great leadership, The Bank of Glen Burnie has set the stage for a bright future.”
Baldwin has held various leadership positions in the construction industry, including with the Maryland Highway Contractors Association (past board president), the Associated Builders and Contractors—Chesapeake Shores Chapter (past board chairman), the Anne Arundel Utility Contractors Association (past board president), the Maryland Asphalt Association (past board member) and the National Associated Builders and Contractors (past board vice chairman).
Baldwin received the Ernst & Young Entrepreneur of The Year® Award (2007) in the Construction and Contracting Services category for the Mid-Atlantic region. He has been involved in developing several of the area’s most successful projects, including the Quarterfield Crossing Shopping Center, the Waugh Chapel Town Center in Gambrills, and Waugh Chapel III. In 2015, he was appointed to Governor Larry Hogan’s Regulatory Reform Commission, serving with Lieutenant Governor Boyd Rutherford. The Commission conducted a comprehensive review of Maryland’s regulatory climate and issued a report identifying over 600 individual regulations that could be streamlined or eliminated. All 657 recommendations were implemented, making a lasting impact in the state.
Along with his family, Baldwin is involved in many charitable and philanthropic activities, including playing an instrumental role in the financing and building of The School of the Incarnation. Additionally, he served on the Foundation Board of Anne Arundel Medical Center for ten years and on the Building Campaign Committee for Hospice of the Chesapeake.
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/ac7350c5-2fd9-4db2-874b-da044ca1e925
FAQ
Who is the new board member appointed to Glen Burnie Bancorp (GLBZ)?
What is the strategic focus of Glen Burnie Bancorp (GLBZ) with this new appointment?
When is Glen Burnie Bancorp (GLBZ) celebrating its anniversary?
What is Jay Baldwin's background and experience relevant to Glen Burnie Bancorp (GLBZ)?
