Item 1.01. Entry into a Material Definitive Agreement.

On March 18, 2009, Glen Burnie Bancorp (the "Company") entered into a Stock Repurchase Agreement (the "Stock Repurchase Agreement") with Eugene P. Nepa ("Mr. Nepa"), pursuant to which the Company agreed to purchase all of Mr. Nepa's share holdings in the Company (274,179 shares). The purchase price for the shares was $9.30 per share, and the total consideration paid by the Company to Mr. Nepa in connection with the stock repurchase was $2,549,864.70.

The foregoing description of the Stock Repurchase Agreement is qualified in its entirety by reference to the complete terms and conditions of the Stock Repurchase Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

On March 18, 2009, the Company issued a press release announcing its entry into the Stock Repurchase Agreement. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

The following exhibits are filed herewith:

Exhibit No.
99.1 Press Release dated March 18, 2009