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Fair Values of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2012
Investments, All Other Investments [Abstract]  
Schedule of estimated fair value and carrying values financial instruments

The following table shows the estimated fair value and the related carrying values of the Company’s financial instruments as December 31, 2012, 2011, and 2010. Items that are not financial instruments are not included.

 

    2012     2011     2010  
    Carrying     Fair     Carrying     Fair     Carrying     Fair  
    Amount     Value     Amount     Value     Amount     Value  
Financial assets:                                                
Cash and due from banks   $ 9,332,087     $ 9,332,087     $ 6,877,110     $ 6,877,110     $ 6,492,313     $ 6,492,313  
Interest-bearing deposits in other financial institutions     6,627,394       6,627,394       2,422,579       2,422,579       1,567,673       1,567,673  
Federal funds sold     2,669,101       2,669,101       653,901       653,901       940,317       940,317  
Investment securities available for sale     100,490,267       100,490,267       102,866,555       102,866,555       87,268,359       87,268,359  
Federal Home Loan Bank Stock     1,448,000       1,448,000       1,520,400       1,520,400       1,745,100       1,745,100  
Maryland Financial Bank Stock     30,000       30,000       30,000       30,000       100,000       100,000  
Ground rents     175,200       175,200       175,200       175,200       178,200       178,200  
Loans, less allowance for credit losses     249,631,525       251,419,000       232,734,257       231,912,000       229,850,888       234,426,000  
Accrued interest receivable     1,450,321       1,450,321       1,541,519       1,541,519       1,538,883       1,538,883  
                                                 
Financial liabilities:                                                
Deposits     332,288,886       314,680,000       311,944,661       293,713,000       294,444,828       269,480,000  
Short-term borrowings     -       -       254,749       254,749       4,273,948       4,273,948  
Long-term borrowings     20,000,000       21,899,000       20,000,000       21,425,000       20,000,000       19,611,000  
Dividends payable     -       -       271,791       271,791       231,579       231,579  
Accrued interest payable     28,365       28,365       48,101       48,101       55,131       55,131  
Unrecognized financial instruments:                                                
Commitments to extend credit     26,235,516       26,235,516       22,704,032       22,704,032       21,690,058       21,690,058  
Standby letters of credit     32,000       32,000       32,000       32,000       71,762       71,762