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FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022
Recurring:
Securities available for sale
Collateralized mortgage obligations		$	—		$	17,756		$	—		$	17,756
Agency mortgage-backed securities			—			58,410			—			58,410
Municipal securities			—			33,990			—			33,990
Corporate securities			—			1,409			—			1,409
U.S. Government agency securities			—			39,356			—			39,356
U.S. Treasury securities			—			6,902			—			6,902
Interest rate swap			—			80			—			80

Non-recurring:
Maryland Financial Bank stock			—			—			—			—
Impaired loans			—			—			206			206
		$	—		$	157,903		$	206		$	158,109
December 31, 2021
Recurring:
Securities available for sale
Collateralized mortgage obligations		$	—		$	21,688		$	—		$	21,688
Agency mortgage-backed securities			—			56,189			—			56,189
Municipal securities			—			45,225			—			45,225
Corporate securities			—			1,474			—			1,474
U.S. Government agency securities			—			31,351			—			31,351
U.S. Treasury securities			—			—			—			—
Interest rate swap			—			(442)			—			(442)

Non-recurring:
Maryland Financial Bank stock			—			—			3			3
Impaired loans			—			—			317			317
		$	—		$	155,485		$	320		$	155,805

Schedule of estimated fair values of financial instruments


		June 30, 2022						December 31, 2021
(dollars in thousands)		Carrying			Fair			Carrying			Fair
		Amount			Value			Amount			Value
Financial assets:
Cash and due from banks		$	2,140		$	2,140		$	2,111		$	2,111
Interest-bearing deposits in other financial institutions			48,784			48,784			56,434			56,434
Federal funds sold			442			442			3,636			3,636
Investment securities available for sale			157,823			157,823			155,927			155,927
Investments in restricted stock			1,071			1,071			1,062			1,062
Ground rents			131			131			131			131
Loans, less allowance for credit losses			198,460			194,236			207,922			211,541
Accrued interest receivable			1,145			1,145			1,085			1,085
Cash value of life insurance			8,414			8,414			8,338			8,338

Financial liabilities:
Deposits			385,765			384,964			383,247			383,910
Long-term borrowings			10,000			9,993			10,000			9,888
Short-term borrowings			10,000			10,001			10,000			10,000
Accrued interest payable			33			33			11			11
Unrecognized financial instruments:
Commitments to extend credit			30,191			30,191			28,167			28,167
Standby letters of credit			45			45			55			55

Schedule of fair value hierarchy of financial instruments


(dollars in thousands)
		Carrying			Fair
June 30, 2022		Amount			Value			Level 1			Level 2			Level 3

Financial instruments - Assets
Cash and cash equivalents		$	51,366		$	51,366		$	51,366		$	—		$	—
Loans receivable, net			198,460			194,236			—			—			194,236
Cash value of life insurance			8,414			8,414			—			8,414			—
Financial instruments - Liabilities
Deposits			385,765			384,964			—			384,964			—
Long-term debt			10,000			9,993			—			9,993			—
Short-term debt			10,000			10,001			—			10,001			—