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FAIR VALUE (Tables) | 9 Months Ended
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Sep. 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
September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 16,187 | ​ | $ | — | ​ | $ | 16,187
Agency mortgage-backed securities | ​ |  | — | ​ |  | 53,226 | ​ |  | — | ​ |  | 53,226
Municipal securities | ​ |  | — | ​ |  | 30,854 | ​ |  | — | ​ |  | 30,854
Corporate securities | ​ | ​ | — | ​ | ​ | 1,399 | ​ | ​ | — | ​ | ​ | 1,399
U.S. Government agency securities | ​ | ​ | — | ​ |  | 36,535 | ​ |  | — | ​ |  | 36,535
U.S. Treasury securities | ​ | ​ | — | ​ | ​ | 6,779 | ​ | ​ | — | ​ | ​ | 6,779
Interest rate swap | ​ | ​ | — | ​ | ​ | 205 | ​ | ​ | — | ​ | ​ | 205
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Maryland Financial Bank stock | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Impaired loans | ​ |  | — | ​ |  | — | ​ |  | 555 | ​ |  | 555
​ | ​ | $ | — | ​ | $ | 145,185 | ​ | $ | 555 | ​ | $ | 145,740
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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2022 | ​ | December 31, 2021 | ​
(dollars in thousands) | ​ | Carrying | ​ | Fair | ​ | Carrying | ​ | Fair | ​
​ |  | Amount |  | Value |  | Amount |  | Value |
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks | ​ | $ | 2,572 | ​ | $ | 2,572 | ​ | $ | 2,111 | ​ | $ | 2,111 | ​
Interest-bearing deposits in other financial institutions | ​ |  | 50,245 | ​ |  | 50,245 | ​ |  | 56,434 | ​ |  | 56,434 | ​
Federal funds sold | ​ |  | 1,352 | ​ |  | 1,352 | ​ |  | 3,636 | ​ |  | 3,636 | ​
Investment securities available for sale | ​ |  | 144,980 | ​ |  | 144,980 | ​ |  | 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 | ​ |  | 191,805 | ​ |  | 187,248 | ​ |  | 207,922 | ​ |  | 211,541 | ​
Accrued interest receivable | ​ |  | 1,253 | ​ |  | 1,253 | ​ |  | 1,085 | ​ |  | 1,085 | ​
Cash value of life insurance | ​ |  | 8,454 | ​ |  | 8,454 | ​ |  | 8,338 | ​ |  | 8,338 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 378,886 | ​ |  | 316,406 | ​ |  | 383,247 | ​ |  | 383,910 | ​
Long-term borrowings | ​ |  | — | ​ |  | — | ​ |  | 10,000 | ​ |  | 9,888 | ​
Short-term borrowings | ​ | ​ | 20,000 | ​ | ​ | 19,896 | ​ | ​ | 10,000 | ​ | ​ | 10,000 | ​
Accrued interest payable | ​ |  | 60 | ​ |  | 60 | ​ |  | 11 | ​ |  | 11 | ​
Unrecognized financial instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commitments to extend credit | ​ |  | 30,494 | ​ |  | 30,494 | ​ |  | 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 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2022 |  | Amount |  | Value |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial instruments - Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 54,169 | ​ | $ | 54,169 | ​ | $ | 54,169 |  | $ | — | ​ | $ | —
Loans receivable, net | ​ |  | 191,805 | ​ |  | 187,248 | ​ |  | — |  |  | — | ​ |  | 187,248
Cash value of life insurance | ​ |  | 8,454 | ​ |  | 8,454 | ​ |  | — |  |  | 8,454 | ​ |  | —
Financial instruments - Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 378,886 | ​ |  | 316,406 | ​ |  | — |  |  | 316,406 | ​ |  | —
Long-term debt | ​ |  | — | ​ |  | — | ​ |  | — |  |  | — | ​ |  | —
Short-term debt | ​ |  | 20,000 | ​ |  | 19,896 | ​ |  | — |  |  | 19,896 | ​ |  | —

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