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FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

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

														Fair
		Level 1				Level 2				Level 3				Value
March 31, 2016
Recurring:
Securities available for sale
U.S. Treasury		$	-			$	2,996,331			$	-			$	2,996,331
State and Municipal			-				28,253,185				-				28,253,185
Mortgaged-backed			-				68,226,301				-				68,226,301
Non-recurring:
Maryland Financial Bank stock			-				-				30,000				30,000
Impaired loans			-				-				3,619,011				3,619,011
OREO							200,605				-				200,605
		$	-			$	99,676,422			$	3,649,011			$	103,325,433
December 31, 2015
Recurring:
Securities available for sale
U.S. Treasury		$	-			$	2,991,485			$	-			$	2,991,485
State and Municipal			-				29,996,099				-				29,996,099
Mortgaged-backed			-				65,802,426				-				65,802,426
Non-recurring:
Maryland Financial Bank stock			-				-				30,000				30,000
Impaired loans			-				-				4,023,092				4,023,092
OREO			-				74,400				-				74,400
		$	-			$	98,864,410			$	4,053,092			$	102,917,502

Schedule of estimated fair values of financial instruments

		March 31, 2016								December 31, 2015
(In Thousands)		Carrying				Fair				Carrying				Fair
		Amount				Value				Amount				Value
Financial assets:
Cash and due from banks		$	6,124			$	6,124			$	7,493			$	7,493
Interest-bearing deposits			6,069				6,069				2,308				2,308
Federal funds sold			8,425				8,425				2,570				2,570
Investment securities			99,476				99,476				98,790				98,790
Investments in restricted stock			1,200				1,200				1,203				1,203
Ground rents			164				164				164				164
Loans, net			254,791				248,480				259,637				252,239
Cash Value of life insurance			9,411				9,411				9,358				9,358
Accrued interest receivable			1,120				1,120				1,121				1,121
Financial liabilities:
Deposits			339,055				316,354				335,191				307,924
Long-term borrowings			20,000				20,774				20,000				20,688
Dividends payable			-				-				-				-
Accrued interest payable			40				40				40				40

Schedule of fair value hierarchy of financial instruments

		Carrying				Fair
March 31, 2016		Amount				Value				Level 1				Level 2				Level 3
Financial instruments - Assets
Cash and cash equivalents		$	20,617,846			$	20,617,846			$	-			$	20,617,846			$	-
Loans receivable, net			254,791,379				248,480,000				-				-				248,480,000
Cash value of life insurance			9,411,064				9,411,064				-				9,411,064				-
Financial instruments - Liabilities
Deposits			339,054,807				316,354,000				201,923,000				114,431,000				-
Long-term debt			20,000,000				20,774,000				-				20,774,000				-

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				Unrealized				Fair				Unrealized				Fair				Unrealized
		Value				Loss				Value				Loss				Value				Loss
Obligations of U.S. Govt Agencies		$	-			$	-			$	-			$	-			$	-			$	-
State and Municipal			2,593				24				1,254				11				3,847				35
Corporate Trust Preferred			-				-				-				-				-				-
Mortgage Backed			24,938				113				12,643				244				37,581				357
		$	27,531			$	137			$	13,897			$	255			$	41,428			$	392

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

		At				At
		March 31,				December 31,
		2016				2015
		(Dollars in Thousands)
Estimated credit losses, beginning of year		$	-			$	3,262
Sales of securities with previous OTTI recognized							(3,262	)
Credit losses - no previous OTTI recognized			-				-
Credit losses - previous OTTI recognized			-				-
Estimated credit losses, end of period		$	-			$	-

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Tabular disclosure of fair value hierarchy.

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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-Publisher FASB
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13476-108611

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
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