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FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2019

FAIR VALUE

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

											Fair
(dollars in thousands)		Level 1			Level 2			Level 3			Value
March 31, 2019
Recurring:
Securities available for sale
Collateralized mortgage obligations		$	—		$	18,479		$	—		$	18,479
Agency mortgage-backed securities			—			26,597			—			26,597
Municipal securities			—			13,362			—			13,362
U.S. Government agency securities			—			1,988			—			1,988
U.S. Treasury securities			—			994			—			994
Interest rate swap			—			73			—			73
Non-recurring:
Maryland Financial Bank stock			—			—			5			5
Impaired loans			—			—			2,999			2,999
OREO			—			705			—			705
		$	—		$	62,198		$	3,004		$	65,202
December 31, 2018
Recurring:
Securities available for sale
Collateralized mortgage obligations		$	—		$	19,806		$	—		$	19,806
Agency mortgage-backed securities			—			24,987			—			24,987
Municipal securities			—			33,830			—			33,830
U.S. Government agency securities			—			1,959			—			1,959
U.S. Treasury securities			—			990			—			990
Interest rate swap			—			295			—			295
Non-recurring:
Maryland Financial Bank stock			—			—			5			5
Impaired loans			—			—			2,501			2,501
OREO						705						705
		$	—		$	82,572		$	2,506		$	85,078

Schedule of estimated fair values of financial instruments

		March 31, 2019						December 31, 2018
(dollars in thousands)		Carrying			Fair			Carrying			Fair
		Amount			Value			Amount			Value
Financial assets:
Cash and due from banks		$	2,341		$	2,341		$	2,605		$	2,605
Interest-bearing deposits in other financial institutions			14,194			14,194			12,468			12,468
Federal funds sold			62			62			881			881
Investment securities available for sale			61,420			61,420			81,572			81,572
Investments in restricted stock			1,439			1,439			2,481			2,481
Ground rents			146			146			143			143
Loans, less allowance for credit losses			296,812			293,507			296,579			293,175
Accrued interest receivable			1,110			1,110			1,198			1,198
Cash value of life insurance			7,900			7,900			7,860			7,860
Financial liabilities:
Deposits			331,613			309,010			322,453			307,271
Long-term borrowings			—			—			—			—
Short-term borrowings			25,000			25,004			55,000			55,851
Accrued interest payable			132			132			152			152
Unrecognized financial instruments:
Commitments to extend credit			24,664			24,664			19,905			19,905
Standby letters of credit			1,059			1,059			1,059			1,059

Schedule of fair value hierarchy of financial instruments

(dollars in thousands)
		Carrying			Fair
March 31, 2019		Amount			Value			Level 1			Level 2		Level 3
Financial instruments - Assets
Cash and cash equivalents		$	16,597		$	16,597		$	16,597		—		$	—
Loans receivable, net			296,812			293,507			—		—			293,507
Cash value of life insurance			7,900			7,900			—		7,900			—
Financial instruments - Liabilities
Deposits			331,613			309,010			—		309,010			—
Short-term debt			25,000			25,004			—		25,004			—

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- Definition

Tabular disclosure of fair value hierarchy.

+ References

No definition available.

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- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

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- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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