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FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Schedule of changes in aset subject to fair value measurement by Level

		(Dollars in Thousands)
														Fair
		Level 1				Level 2				Level 3				Value
December 31, 2012
Recurring:
Investment securities available for sale (AFS)		$	-			$	100,490			$	-			$	100,490
Non-recurring:
Maryland Financial Bank stock			-				-				30				30
Impaired loans			-				-				6,084				6,084
OREO			-				478				-				478
			-				100,968				6,114				107,082
Activity:
Investment securities AFS
Purchases of investment securities			-				15,850				-				15,850
Sales, calls and maturities of investment securities			-				(11,497	)			-				(11,497	)
Amortization/accretion of premium/discount			-				(443	)			-				(443	)
Increase in market value			-				(4,208	)			-				(4,208	)
Loans
New impaired loans			-				-				342				342
Payments and other loan reductions			-				-				(219	)			(219	)
Change in total provision			-				-				300				300
OREO
OREO converted from loans			-				-				-				-
Sales of OREO			-				(150	)			-				(150	)
June 30, 2013
Recurring:
Investment securities AFS			-				100,192				-				100,192
Non-recurring:
Maryland Financial Bank stock			-				-				30				30
Impaired loans			-				-				6,507				6,507
OREO			-				328				-				328
		$	-			$	100,520			$	6,537			$	107,057

Schedule of estimated fair values of financial instruments

		June 30, 2013								December 31, 2012
(In Thousands)		Carrying				Fair				Carrying				Fair
		Amount				Value				Amount				Value
Financial assets:
Cash and due from banks		$	7,618			$	7,618			$	9,332			$	9,332
Interest-bearing deposits			62				62				6,627				6,627
Federal funds sold			312				312				2,669				2,669
Investment securities			100,192				100,192				100,490				100,490
Investments in restricted stock			1,363				1,363				1,448				1,448
Ground rents			172				172				175				175
Loans, net			254,185				256,288				249,632				251,419
Accrued interest receivable			1,446				1,446				1,450				1,450
Financial liabilities:
Deposits			329,080				299,559				332,289				314,680
Long-term borrowings			20,000				21,034				20,000				21,899
Dividends payable			274				274				-				-
Accrued interest payable			35				35				28				28
Off-balance sheet commitments			26,191				26,191				26,236				26,236

Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time in continous unrealized loss position

Securities available for sale:		Less than 12 months								12 months or more								Total
(Dollars in Thousands)
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
		Value				Loss				Value				Loss				Value				Loss
Obligations of U.S. Govt Agencies		$	-			$	-			$	-			$	-			$	-			$	-
State and Municipal			14,478				1,315				260				40				14,738				1,355
Corporate Trust Preferred			-				-				247				102				247				102
Mortgage Backed			31,591				1,073				850				24				32,441				1,097
		$	46,069			$	2,388			$	1,357			$	166			$	47,426			$	2,554

Schedule of rollforward of the cumulative other-than-temporary credit losses recognized in earnings for debt securities

		At				At
		June 30,			December 31,
		2013				2012
		(Dollars in Thousands)
Estimated credit losses, beginning of year		$	3,247			$	3,247
Credit losses - no previous OTTI recognized			-				-
Credit losses - previous OTTI recognized			-				-
Estimated credit losses, end of period		$	3,247			$	3,247

X

- Definition

Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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