FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2016
Recurring:
Securities available for sale
U.S. Treasury	$	-	$	3,999,186	$	-	$	3,999,186
State and Municipal		-		32,893,048		-		32,893,048
Mortgaged-backed		-		65,788,336		-		65,788,336
Non-recurring:
Maryland Financial Bank stock		-		-		30,000		30,000
Impaired loans		-		-		3,670,238		3,670,238
OREO				200,605		-		200,605
	$	-	$	102,881,175	$	3,700,238	$	106,581,413
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

	June 30, 2016				December 31, 2015
(In Thousands)	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Cash and due from banks	$	6,481	$	6,481	$	7,493	$	7,493
Interest-bearing deposits		2,671		2,671		2,308		2,308
Federal funds sold		11,352		11,352		2,570		2,570
Investment securities		102,681		102,681		98,790		98,790
Investments in restricted stock		1,200		1,200		1,203		1,203
Ground rents		164		164		164		164
Loans, net		253,490		255,895		259,637		252,239
Cash Value of life insurance		9,465		9,465		9,358		9,358
Accrued interest receivable		1,133		1,133		1,121		1,121
Financial liabilities:
Deposits		339,295		331,141		335,191		307,924
Long-term borrowings		20,000		20,818		20,000		20,688
Dividends payable		-		-		-		-
Accrued interest payable		38		38		40		40

Schedule of fair value hierarchy of financial instruments

	Carrying		Fair
June 30, 2016	Amount		Value		Level 1		Level 2		Level 3
Financial instruments - Assets
Cash and cash equivalents	$	20,504,113	$	20,504,113	$	20,504,113	$	-	$	-
Loans receivable, net		253,489,999		255,895,000		-		-		255,895,000
Cash value of life insurance		9,464,684		9,464,684		-		9,464,684		-
Financial instruments - Liabilities
Deposits		339,294,987		331,141,000		217,945,000		113,196,000		-
Long-term debt		20,000,000		20,818,000		-		20,818,000		-

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		2,970		22		506		4		3,476		26
Corporate Trust Preferred		-						-		-		-
Mortgage Backed		5,742		49		9,309		78		15,051		127
	$	8,712	$	71	$	9,815	$	82	$	18,527	$	153

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

	At		At
	June 30,		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	$	-	$	-