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FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

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

		(Dollars in Thousands)
														Fair
		Level 1				Level 2				Level 3				Value
December 31, 2014
Recurring:
Investment securities available for sale (AFS)		$	790			$	86,815			$	388			$	87,993
Non-recurring:
Maryland Financial Bank stock			-				-				30				30
Impaired loans			-				-				5,176				5,176
OREO			-				45				-				45
			790				86,860				5,594				93,244
Activity:
Investment securities AFS
Purchases of investment securities			-				41,910				-				41,910
Sales, calls and maturities of investment securities			-				(21,382	)			-				(21,382	)
Amortization/accretion of premium/discount			-				(290	)			-				(290	)
Increase (decrease) in market value			25				(685	)			(62	)			(722	)
Transfer to Level 2			(573	)			797				(224	)			-
Loans
New impaired loans			-				-				2,400				2,400
Payments and other loan reductions			-				-				(105	)			(105	)
Change in total provision			-				-				(596	)			(596	)
OREO
Sales of OREO			-				-				-				-
Loss on disposal of OREO			-				-				-				-
Write-down of OREO			-				-				-				-
June 30, 2015
Recurring:
Investment securities AFS			242				107,165				102				107,509
Non-recurring:
Maryland Financial Bank stock			-				-				30				30
Impaired loans			-				-				6,875				6,875
OREO			-				45				-				45
		$	242			$	107,210			$	7,007			$	114,459

Schedule of estimated fair values of financial instruments

		June 30, 2015								December 31, 2014
(In Thousands)		Carrying Amount				Fair Value				Carrying Amount				Fair Value
Financial assets:
Cash and due from banks		$	8,155			$	8,155			$	7,101			$	7,101
Interest-bearing deposits			1,890				1,890				2,155				2,155
Federal funds sold			334				334				4,024				4,024
Investment securities			107,509				107,509				87,993				87,993
Investments in restricted stock			1,203				1,203				1,328				1,328
Ground rents			169				169				169				169
Loans, net			265,796				260,395				273,986				268,536
Accrued interest receivable			1,181				1,181				1,274				1,274
Financial liabilities:
Deposits			348,603				316,359				338,877				310,239
Long-term borrowings			20,000				20,930				20,000				20,951
Dividends payable			277				277				276				276
Accrued interest payable			39				39				40				40
Off-balance sheet commitments			23,541				23,541				21,430				21,430

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

Securities available for sale:		Less than 12 months								12 months or more								Total
(Dollars in Thousands)
		Fair Value				Unrealized Loss				Fair Value				Unrealized Loss				Fair Value				Unrealized Loss
Obligations of U.S. Govt Agencies		$	-			$	-			$	-			$	-			$	-			$	-
State and Municipal			21,321				645				808				18				22,129				663
Corporate Trust Preferred			-				-				102				87				102				87
Mortgage Backed			36,464				320				19,183				551				55,647				871
		$	57,785			$	965			$	20,093			$	656			$	77,878			$	1,621

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

		At  June 30, 2015				At  December 31, 2014
		(Dollars in Thousands)
Estimated credit losses, beginning of year		$	3,262			$	3,262
Credit losses - no previous OTTI recognized			-				-
Credit losses - previous OTTI recognized			-				-
Estimated credit losses, end of period		$	3,262			$	3,262

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).

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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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