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FAIR VALUE (Tables) | 6 Months Ended
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Jun. 30, 2021
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
June 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 25,447 | ​ | $ | — | ​ | $ | 25,447
Agency mortgage-backed securities | ​ |  | — | ​ |  | 33,044 | ​ |  | — | ​ |  | 33,044
Municipal securities | ​ |  | — | ​ |  | 42,687 | ​ |  | — | ​ |  | 42,687
Corporate securities | ​ | ​ | — | ​ | ​ | 1,496 | ​ | ​ | — | ​ | ​ | 1,496
U.S. Government agency securities | ​ | ​ | — | ​ |  | 54,917 | ​ |  | — | ​ |  | 54,917
Interest rate swap | ​ | ​ | — | ​ | ​ | (722) | ​ | ​ | — | ​ | ​ | (722)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Maryland Financial Bank stock | ​ |  | — | ​ |  | — | ​ |  | 3 | ​ |  | 3
Impaired loans | ​ |  | — | ​ |  | — | ​ |  | 4,104 | ​ |  | 4,104
OREO | ​ | ​ | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | $ | — | ​ | $ | 156,869 | ​ | $ | 4,107 | ​ | $ | 160,976
December 31, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 24,643 | ​ | $ | — | ​ | $ | 24,643
Agency mortgage-backed securities | ​ |  | — | ​ |  | 26,948 | ​ |  | — | ​ |  | 26,948
Municipal securities | ​ |  | — | ​ |  | 29,413 | ​ |  | — | ​ |  | 29,413
Corporate securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
U.S. Government agency securities | ​ | ​ | — | ​ | ​ | 33,045 | ​ | ​ | — | ​ | ​ | 33,045
Interest rate swap | ​ | ​ | — | ​ | ​ | (949) | ​ | ​ | — | ​ | ​ | (949)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​
Maryland Financial Bank stock | ​ |  | — | ​ |  | — | ​ |  | 3 | ​ |  | 3
Impaired loans | ​ |  | — | ​ |  | — | ​ |  | 4,893 | ​ |  | 4,893
OREO | ​ | ​ | ​ | ​ | ​ | 575 | ​ | ​ | ​ | ​ | ​ | 575
​ | ​ | $ | — | ​ | $ | 113,675 | ​ | $ | 4,896 | ​ | $ | 118,571
Schedule of estimated fair values of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2021 | ​ | December 31, 2020 | ​
(dollars in thousands) | ​ | Carrying | ​ | Fair | ​ | Carrying | ​ | Fair | ​
​ |  | Amount |  | Value |  | Amount |  | Value |
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks | ​ | $ | 2,223 | ​ | $ | 2,223 | ​ | $ | 2,117 | ​ | $ | 2,117 | ​
Interest-bearing deposits in other financial institutions | ​ |  | 20,145 | ​ |  | 20,145 | ​ |  | 29,730 | ​ |  | 29,730 | ​
Federal funds sold | ​ |  | 4,400 | ​ |  | 4,400 | ​ |  | 5,246 | ​ |  | 5,246 | ​
Investment securities available for sale | ​ |  | 157,591 | ​ |  | 157,591 | ​ |  | 114,049 | ​ |  | 114,049 | ​
Investments in restricted stock | ​ | ​ | 1,062 | ​ | ​ | 1,062 | ​ | ​ | 1,199 | ​ | ​ | 1,199 | ​
Ground rents | ​ |  | 140 | ​ |  | 140 | ​ |  | 140 | ​ |  | 140 | ​
Loans, less allowance for credit losses | ​ |  | 231,984 | ​ |  | 238,850 | ​ |  | 252,296 | ​ |  | 253,946 | ​
Accrued interest receivable | ​ |  | 1,304 | ​ |  | 1,304 | ​ |  | 1,302 | ​ |  | 1,302 | ​
Cash value of life insurance | ​ |  | 8,258 | ​ |  | 8,258 | ​ |  | 8,181 | ​ |  | 8,181 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 368,884 | ​ |  | 370,102 | ​ |  | 349,620 | ​ |  | 350,666 | ​
Short-term borrowings | ​ | ​ | 25,237 | ​ | ​ | 25,245 | ​ | ​ | 29,912 | ​ | ​ | 29,935 | ​
Accrued interest payable | ​ |  | 15 | ​ |  | 15 | ​ |  | 16 | ​ |  | 16 | ​
Unrecognized financial instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commitments to extend credit | ​ |  | 30,706 | ​ |  | 30,706 | ​ |  | 31,561 | ​ |  | 31,561 | ​
Standby letters of credit | ​ |  | 1,044 | ​ |  | 1,044 | ​ |  | 1,044 | ​ |  | 1,044 | ​
Schedule of fair value hierarchy of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Fair | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
June 30, 2021 |  | Amount |  | Value |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial instruments - Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 26,768 | ​ | $ | 26,768 | ​ | $ | 26,768 |  | $ | — | ​ | $ | —
Loans receivable, net | ​ |  | 231,984 | ​ |  | 238,850 | ​ |  | — |  |  | — | ​ |  | 238,850
Cash value of life insurance | ​ |  | 8,258 | ​ |  | 8,258 | ​ |  | — |  |  | 8,258 | ​ |  | —
Financial instruments - Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 368,884 | ​ |  | 370,102 | ​ |  | 143,914 |  |  | 226,187 | ​ |  | —
Short-term debt | ​ |  | 25,237 | ​ |  | 25,245 | ​ |  | 5,237 |  |  | 20,009 | ​ |  | —

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