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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of fair value measurements on a recurring and non-recurring basis


									Fair
December 31, 2012	Level 1		Level 2			Level 3			Value
Recurring:
Securities available for sale	$	-	$	100,490,267		$	-		$	100,490,267

Non-recurring:
Maryland Financial Bank stock		-		-			30,000			30,000
Impaired loans		-		-			6,083,516			6,083,516
OREO		-		478,190			-			478,190
	$	-	$	100,968,457		$	6,113,516		$	107,081,973
Activity:
Securities available for sale:
Purchases of securities		-		21,106,052			-			21,106,052
Sales, calls, and maturities of securities		-		(40,452,598	)		-			(40,452,598	)
Net amortization/accretion of premium/discount		-		(768,638	)		(670	)		(769,308	)
Increase (decrease) in market value		454,000		(6,455,126	)		(44,024	)		(6,045,150	)
OTTI on investments		-		-			(15,581	)		(15,581	)
Transfer to level 1		119,600		(119,600	)		-			-
Transfer to level 2		-		(284,550	)		284,550			-

Maryland Financial Bank stock
OTTI on stock		-		-			-			-

Impaired loans:
New impaired loans		-		-			1,659,984			1,659,984
Payments and other loan reductions		-		-			(2,529,599	)		(2,529,599	)
Change in total provision		-		-			432,609			432,609
Loans converted to OREO		-		-			(901,281	)		(901,281	)

OREO:
OREO converted from loans		-		983,000			-			983,000
Sales of OREO		-		(273,121	)		-			(273,121	)
Write-down of OREO		-		(5,695	)					(5,695	)
Loss on disposal of OREO		-		(11,601	)					(11,601	)

December 31, 2013
Recurring:
Securities available for sale		573,600		73,515,807			224,275			74,313,682

Non-recurring:
Maryland Financial Bank stock		-		-			30,000			30,000
Impaired loans		-		-			4,745,229			4,745,229
OREO		-		1,170,773			-			1,170,773

	$	573,600	$	74,686,580		$	4,999,504		$	80,259,684

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References+ Details