Old Line Bancshares (OLBK) 10-Q 4 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information
Entity Registrant Name	OLD LINE BANCSHARES INC
Entity Central Index Key	1,253,317
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		10,534,420
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 29,107,355	$ 23,572,613
Interest bearing accounts	1,147,181	1,230,864
Federal funds sold	362,726	601,259
Total cash and cash equivalents	30,617,262	25,404,736
Investment securities available for sale-at fair value	151,522,391	161,680,198
Loans Receivable Held-for-sale, Net	5,264,444	4,548,106
Loans held for investment (net of allowance for loan losses of $4,435,913 and $4,281,835, respectively)	1,040,227,945	926,573,488
Equity securities at cost	3,671,895	5,811,697
Premises and equipment	33,948,846	34,300,375
Accrued interest receivable	3,223,748	3,218,428
Deferred income taxes	12,734,261	16,106,498
Bank owned life insurance	32,071,875	31,429,747
Other real estate owned	1,948,625	2,451,920
Goodwill	7,793,665	7,793,665
Core deposit intangible	3,822,953	4,420,796
Other assets	4,530,443	3,779,350
Total assets	1,331,378,353	1,227,519,004
Deposits
Non-interest bearing	279,339,255	260,913,521
Interest bearing	811,186,492	754,825,885
Total deposits	1,090,525,747	1,015,739,406
Short term borrowings	85,695,507	61,002,889
Long term borrowings	5,903,665	5,987,283
Accrued interest payable	357,691	266,023
Income taxes payable	379,247
Accrued pension	5,276,167	5,095,141
Other liabilities	4,967,326	3,901,625
Total liabilities	1,193,105,350	1,091,992,367
Stockholders' equity
Common stock, par value $0.01 per share; 25,000,000 shares authorized; 10,574,439 and 10,810,930 shares issued and outstanding in 2015 and 2014, respectively	105,131	108,110
Additional paid-in capital	100,614,804	105,235,646
Retained earnings	36,935,945	30,067,798
Accumulated other comprehensive income (loss)	359,840	(147,250)
Total Old Line Bancshares, Inc. stockholders' equity	138,015,720	135,264,304
Non-controlling interest	257,283	262,333
Total stockholders' equity	138,273,003	135,526,637
Total liabilities and stockholders' equity	$ 1,331,378,353	$ 1,227,519,004

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Consolidated Balance Sheets
Loans held for sale, fair value (in dollars)	$ 5,445,074	$ 4,753,995
Loans held for investment, allowance for loan losses (in dollars)	$ 4,453,714	$ 4,281,835
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	25,000,000	25,000,000
Common stock, shares issued	10,513,025	10,810,930
Common stock, shares outstanding	10,513,025	10,810,930

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest Income
Loans, including fees	$ 12,202,174	$ 10,232,684	$ 35,302,194	$ 31,166,655
U.S. treasury securities	2,642	2,650	7,878	19,028
U.S. government agency securities	127,897	137,846	393,991	433,945
Mortgage backed securities	312,067	347,831	1,035,621	1,086,183
Municipal securities	295,464	327,754	916,098	1,158,933
Federal funds sold	177	1,611	552	3,652
Other	66,925	67,632	172,710	238,520
Total interest income	13,007,346	11,118,008	37,829,044	34,106,916
Interest expense
Deposits	1,118,092	850,964	3,050,609	2,601,906
Borrowed funds	141,009	111,693	435,432	378,887
Total interest expense	1,259,101	962,657	3,486,041	2,980,793
Net interest income	11,748,245	10,155,351	34,343,003	31,126,123
Provision for loan losses	263,595	555,134	910,984	2,369,183
Net interest income after provision for loan losses	11,484,650	9,600,217	33,432,019	28,756,940
Non-interest income
Service charges on deposit accounts	442,225	483,865	1,298,809	1,428,943
Gains on sales or calls of investment securities	604		65,222	129,911
Earnings on bank owned life insurance	250,950	248,259	748,755	738,237
Gain on the sale of equity securities				96,993
Gain (loss) on disposal of assets			19,975	17,919
Rental Income	202,091	198,844	620,439	594,788
Gain on the sale of loans	457,613	129,498	1,544,462	527,478
Other fees and commissions	490,015	201,869	881,994	1,030,526
Total non-interest income	1,843,498	1,262,335	5,179,656	4,564,795
Non-interest expense
Salaries and benefits	4,407,726	4,559,711	12,918,194	13,527,562
Occupancy and equipment	1,478,740	1,367,808	4,217,277	4,390,541
Data processing	350,941	368,717	1,070,191	987,919
FDIC insurance and State of Maryland assessments	241,634	229,785	742,520	681,881
Merger and integration				29,167
Core deposit premium amortization	193,960	212,970	597,843	653,734
Net realized gain (loss) on sale of real estate owned	(114,709)	(260,533)	29,214	(542,728)
OREO expense	158,983	159,238	354,736	354,963
Directors Fees	160,800	117,800	491,000	358,400
Network services	162,516	189,329	539,626	563,831
Telephone	163,184	172,963	489,021	507,563
Other operating	1,403,933	1,368,278	4,604,174	4,483,882
Total non-interest expense	8,607,708	8,486,066	26,053,796	25,996,715
Income before income taxes	4,720,440	2,376,486	12,557,879	7,325,020
Income tax expense	1,605,586	636,239	4,095,894	2,014,950
Net income	3,114,854	1,740,247	8,461,985	5,310,070
Less: Net loss attributable to the non-controlling interest	2,894	(4,299)	(5,050)	(39,568)
Net income available to common stockholders	$ 3,111,960	$ 1,744,546	$ 8,467,035	$ 5,349,638
Basic earnings per common share (in dollars per share)	$ 0.30	$ 0.16	$ 0.80	$ 0.50
Diluted earnings per common share (in dollars per share)	0.29	0.16	0.78	0.49
Dividend per common share (in dollars per share)	$ 0.05	$ 0.05	$ 0.15	$ 0.13

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements of Comprehensive Income
Net income	$ 3,114,854	$ 1,740,247	$ 8,461,985	$ 5,310,070
Other comprehensive income (loss):
Unrealized gain on securities available for sale, net of taxes	614,085	49,852	546,585	2,848,841
Reclassification adjustment for realized gain on securities available for sale included in net income, net of taxes	(366)		(39,495)	(78,668)
Other comprehensive income (loss)	613,719	49,852	507,090	2,770,173
Comprehensive Income	3,728,573	1,790,099	8,969,075	8,080,243
Comprehensive (loss) attributable to the non-controlling interest	2,894	(4,299)	(5,050)	(39,568)
Comprehensive income available to common stockholders	$ 3,725,679	$ 1,794,398	$ 8,974,125	$ 8,119,811

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements of Comprehensive Income
Unrealized gain (loss) on securities available for sale, taxes	$ (399,771)	$ 32,473	$ 304,587	$ 1,753,224
Reclassification adjustment for realized gain on securities available for sale included in net income, taxes	$ 238	$ 0	$ 25,727	$ 51,243

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - 9 months ended Sep. 30, 2015 - USD ($)	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Non-controlling interest	Total
Balance at Dec. 31, 2014	$ 108,110	$ 105,235,646	$ 30,067,798	$ (147,250)	$ 262,333	$ 135,526,637
Balance (in shares) at Dec. 31, 2014	10,810,930					10,810,930
Increase (Decrease) in Stockholders' Equity
Net income attributable to Old Line Bancshares, Inc.			8,467,035			$ 8,467,035
Unrealized loss on securities available for sale, net of income tax benefit of ($69,457)				507,090		507,090
Net loss attributable to non-controlling interest					(5,050)	(5,050)
Stock based compensation awards		300,243				300,243
Stock options exercised	$ 320	396,613				396,933
Stock options exercised (in shares)	32,000
Restricted stock issued	$ 93	(93)
Restricted stock issued (in shares)	9,332
Common stock repurchased and retired	$ (3,392)	(5,317,605)				(5,320,997)
Common stock repurchased and retired (in shares)	(339,237)
Common stock cash dividend $0.10 per share			(1,598,888)			(1,598,888)
Balance at Sep. 30, 2015	$ 105,131	$ 100,614,804	$ 36,935,945	$ 359,840	$ 257,283	$ 138,273,003
Balance (in shares) at Sep. 30, 2015	10,513,025					10,513,025

Consolidated Statement of Chan8

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical)	9 Months Ended
	Sep. 30, 2015USD ($)$ / shares
Consolidated Statement of Changes in Stockholders' Equity
Unrealized gain on securities available for sale, income tax expense (benefit) | $	$ 330,314
Dividend per common share (in dollars per share)	$ 0.15

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Interest received	$ 38,521,383	$ 35,244,100
Fees and commissions received	2,957,058	2,662,670
Interest paid	(3,394,373)	(3,003,860)
Cash paid to suppliers and employees	(22,329,593)	(23,228,950)
Loans originated for sale	(78,817,219)	(36,250,981)
Proceeds from the sale of loans held for sale	78,100,881	32,530,411
Income taxes paid	(1,160,159)	(1,005,555)
Net cash provided by operating activities	13,877,978	6,947,835
Cash flows from investing activities
Purchase of investment securities available for sale	(5,348,488)	(27,229,351)
Proceeds from disposal of investment securities
Available for sale at maturity, call or paydowns	15,715,011	12,789,072
Available for sale sold		27,205,548
Loans made, net of principal collected	(113,024,726)	(39,933,335)
Proceeds from sale of other real estate owned	328,916	3,575,589
Redemption of equity securities	2,139,802	1,273,528
Purchase of premises and equipment	(1,328,381)	(675,851)
Net cash provided by investing activities	(101,537,841)	(23,012,719)
Proceeds from the sale of premises and equipment	(19,975)	(17,919)
Net increase (decrease) in
Time deposits	33,094,287	(10,934,711)
Other deposits	41,692,054	56,210,803
Short term borrowings	24,692,618	(13,971,391)
Long term borrowings	(83,618)	(75,230)
Stock proceeds from private placement	(5,320,997)
Stock options exercised	396,933	9,463
Cash dividends paid-common stock	(1,598,888)	(1,402,148)
Net cash used in financing activities	92,872,389	29,836,786
Net increase (decrease) in cash and cash equivalents	5,212,526	13,771,902
Cash and cash equivalents at beginning of year	25,404,736	29,058,300
Cash and cash equivalents at end of year	30,617,262	42,830,202
Reconciliation of net income to net cash provided (used) by operating activities
Net income	8,461,985	5,310,070
Adjustments to reconcile net income to net cash provided (used) by operating activities
Depreciation and amortization	1,719,860	1,658,292
Provision for loan losses	910,984	2,369,183
Deferred loan fees net of costs	3,750	(18,572)
(Gain)/loss on sale or calls of securities	(65,222)	(129,911)
Amortization of premiums and discounts	693,909	725,289
Change in loans held for sale	(716,338)	(3,720,571)
(Gain)/loss on sale of loans	(1,544,462)	(527,478)
(Gain)/loss on sale of other real estate owned	29,214	(542,728)
Gain on the sale of equity securities		(96,993)
Write down of other real estate owned	145,165
(Gain)/loss on sale of fixed assets	(19,975)	(17,919)
Amortization of intangible	597,843	653,734
Deferred income taxes	3,041,923	159,770
Stock based compensation awards	300,243	269,362
Increase (decrease) in:
Accrued interest payable	91,668	(23,067)
Income tax payable	(106,188)	849,625
Supplemental executive retirement plan	181,026	148,504
Other liabilities	1,551,136	1,608,623
Decrease (increase) in:
Accrued interest receivable	(5,320)	430,467
Bank owned life insurance	(642,128)	(637,209)
Other assets	(751,095)	(1,520,636)
Net Cash Provided by (Used in) Operating Activities	13,877,978	6,947,835
Supplemental disclosure of noncash activities:
Loans transferred to other real estate owned	$ 820,725	$ 1,421,365

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	OLD LINE BANCSHARE INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. SUM MARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Description of Business - Old Line Bancshares, Inc. (Old Line Bancshares) was incorporated under the laws of the State of Maryland on April 11, 2003 to serve as the holding company of Old Line Bank. The primary business of Old Line Bancshares is to own all of the capital stock of Old Line Bank. We provide a full range of banking services to customers located in Anne Arundel, Calvert, Charles, Montgomery, Prince George’s, and St. Mary’s Counties in Maryland and surrounding areas. Basis of Presentation and Consolidation - The accompanying condensed consolidated financial statements include the activity of Old Line Bancshares and its wholly owned subsidiary, Old Line Bank, and its majority owned subsidiary Pointer Ridge Office Investments, LLC (Pointer Ridge), a real estate investment company. We have eliminated all significant intercompany transactions and balances. We report the non-controlling interests in Pointer Ridge separately in the consolidated balance sheet. We report the income of Pointer Ridge attributable to Old Line Bancshares on the consolidated statement of income. The foregoing consolidated financial statements for the periods ended September 30, 2015 and 2014 are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (US GAAP); however, in the opinion of management we have included all adjustments (comprising only normal recurring accruals) necessary for a fair presentation of the results of the interim period. We derived the balances as of December 31, 2014 from audited financial statements. These statements should be read in conjunction with Old Line Bancshares’ financial statements and accompanying notes included in Old Line Bancshares’ Form 10-K for the year ended December 31, 2014. We have made no significant changes to Old Line Bancshares’ accounting policies as disclosed in the Form 10-K. Use of estimates - The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions may affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. A material estimate that is particularly susceptible to significant change in the near term relates to the determination of the allowance for loan losses . Reclassifications - We have made certain reclassifications to the 2014 financial presentation to conform to the 2015 presentation. These reclassifications did not change net income or stockholders’ equity. Recent Accounting Pronouncements – In September 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments . The amendments in ASU No. 2015-16 require that an acquirer recognize adjustments to estimated amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the estimated amounts, calculated as if the accounting had been completed at the acquisition date. The amendments also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the estimated amounts had been recognized as of the acquisition date. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments should be applied prospectively to adjustments to provisional amounts that occur after the effective date with earlier application permitted for financial statements that have not been issued. The Company is currently evaluating the provisions of this amendment to determine the potential impact the new standard will have on the Company's consolidated financial statements as it relates to future business combinations. I n August 2014, the FASB issued ASU No. 2014-14- Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure , to address the diversity in practice regarding the classification and measurement of foreclosed loans which were part of a government-sponsored loan guarantee program (e.g. HUD, FHA, VA). The ASU outlines certain criteria and provides that, if met, the loan (residential or commercial) should be derecognized and a separate other receivable should be recorded upon foreclosure at the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This ASU will be effective for annual reporting periods beginning after December 15, 2014, including interim periods within that reporting period. The adoption of ASU No. 2014-14 did not have a material impact on our consolidated financial statements and the required disclosures have been included in Note 5. In June 2014, the FASB issued ASU No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The new guidance aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement, which has resulted in outcomes referred to as off-balance-sheet accounting. The amendments in the ASU require a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The amendments in the ASU also require expanded disclosures, effective for the current reporting period of September 30, 2015, about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings (see Note 9 to the Consolidated Financial Statements). We adopted the amendments in this ASU effective January 1, 2015. As of September 30, 2015, all of our repurchase agreements were typical in nature (i.e., not repurchase-to-maturity transactions or repurchase agreements executed as a repurchase financing) and are accounted for as secured borrowings. As such, the adoption of ASU No. 2014-11 did not have a material impact on our consolidated financial statements.

POINTER RIDGE OFFICE INVESTMENT

POINTER RIDGE OFFICE INVESTMENT, LLC	9 Months Ended
	Sep. 30, 2015
Pointer Ridge Office Investment, LLC
Pointer Ridge Office Investment, LLC	2. POINTER RIDGE OFFICE INVESTMENT, LLC Old Line Bank has a 62.5% ownership of Pointer Ridge Office Investment, LLC and we have consolidated its results of operations from the date of acquisition. One of the Bank’s directors owns a 12.5% interest in this investment. The following table summarizes the condensed Balance Sheets and Statements of Income information for Pointer Ridge Office Investment, LLC. September 30, December 31, Balance Sheets 2015 2014 Current assets $ $ Non-current assets Liabilities Equity Three Months Ended Nine Months Ended September 30, September 30, Statements of Income 2015 2014 2015 2014 Revenue $ $ $ $ Expenses Net income (loss) $ $ $ $

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2015
Investment Securities
Investment Securities	3. INVESTMENT SECURITIES Presented below is a summary of the amortized cost and estimated fair value of securities. Gross Gross Amortized unrealized unrealized Estimated cost gains losses fair value September 30, 2015 Available for sale U.S. treasury $ $ $ — $ U.S. government agency Municipal securities Mortgage backed securities: FHLMC certificates FNMA certificates GNMA certificates SBA loan pools — $ $ $ $ December 31, 2014 Available for sale U.S. treasury $ $ $ — $ U.S. government agency Municipal securities Mortgage backed securities FHLMC certificates FNMA certificates GNMA certificates SBA loan pools — $ $ $ $ As of September 30, 2015 and December 31, 2014, securities with unrealized losses segregated by length of impairment were as follows: September 30, 2015 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. Treasury $ — $ — $ — $ — $ — $ — U.S. government agency Municipal securities Mortgage backed securities SBA loan pools — — Total unrealized losses $ $ $ $ $ $ December 31, 2014 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. government agency $ $ $ $ $ $ Municipal securities Mortgage backed securities SBA loan pools — — Total unrealized losses $ $ $ $ $ $ As of both September 30, 2015 and December 31, 2014, we had 57 investment securities in an unrealized loss position greater than the 12 month time frame and 35 and 12 securities, respectively, in an unrealized loss position less than the 12 month time frame at September 30, 2015 and December 31, 2014. We consider all unrealized losses on securities as of September 30, 2015 to be temporary losses because we will redeem each security at face value at or prior to maturity. We have the ability and intent to hold these securities until recovery or maturity. As of September 30, 2015, we do not have the intent to sell any of the securities classified as available for sale and believe that it is more likely than not that we will not have to sell any such securities before a recovery of cost. In most cases, market interest rate fluctuations cause a temporary impairment in value. We expect the fair value to recover as the investments approach their maturity date or re-pricing date or if market yields for these investments decline. We do not believe that credit quality caused the impairment in any of these securities. Because we believe these impairments are temporary, we have not realized any loss in our consolidated statement of income. We have recorded from the sale of investment securities on two municipal bonds a net gain of $604 , representing gross realized gains of $4,783 and gross realized losses of $4,179 , for the three month period ending September 30, 2015. Also, there were three municipal bonds that were called during the three month period ended September 30, 2015. There were no sales of investment securities for the same three month period last year. We have recorded a net gain of $65 thousand on investment securities for the nine months ending September 30, 2015. The gain represents gross realized gains of $69 thousand and gross realized losses of $4 thousand on six municipal bonds that were called, one agency security that matured, one Small Business Administration (SBA) mortgage backed securities (MBS) that paid off and two municipal bonds sold during the nine months ending September 30, 2015. We have recorded from the sale of investment securities a net gain of $130 thousand, representing gross realized gains of $239 thousand and gross realized losses $109 thousand, for the nine month period ending September 30, 2014. We received $15.7 million and $40.1 million, respectively, in proceeds for sales, maturities or calls and principal pay-downs of investment securities for the nine month periods ending September 30, 2015 and 2014. The net proceeds of these transactions for the nine months ended September 30, 2015 were used for $5.3 million new purchases of investment securities and remaining for new loan originations. Contractual maturities and pledged securities at September 30, 2015 are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without prepayment penalties. We classify MBS based on maturity date. However, we receive payments on a monthly basis. Available for Sale Amortized Fair September 30, 2015 cost value Maturing Within one year $ $ Over one to five years Over five to ten years Over ten years $ $ Pledged securities $ $

LOANS

LOANS	9 Months Ended
	Sep. 30, 2015
Loans and Allowance for Loan Losses
Loans and Allowance for Loan Losses	4. LOANS Major classifications of loans held for investment are as follows: September 30, 2015 December 31, 2014 Legacy (1) Acquired Total Legacy (1) Acquired Total Commercial Real Estate Owner Occupied $ $ $ $ $ $ Investment Hospitality Land and A&D Residential Real Estate First Lien-Investment First Lien-Owner Occupied Residential Land and A&D HELOC and Jr. Liens Commercial and Industrial Consumer Allowance for loan losses Deferred loan costs, net — $ $ $ $ $ $ (1) As a result of the acquisitions of Maryland Bankcorp, Inc. (Maryland Bankcorp), the parent company of Maryland Bank & Trust Company, N.A. (MB&T), in April 2011 and of WSB Holdings, the parent company of The Washington Savings Bank (“WSB”), in May 2013, we have segmented the portfolio into two components, loans originated by Old Line Bank “Legacy” and loans acquired from MB&T and WSB “Acquired”. Credit Policies and Administration We have adopted a comprehensive lending policy, which includes stringent underwriting standards for all types of loans. We have designed our underwriting standards to promote a complete banking relationship rather than a transactional relationship. In an effort to manage risk, prior to funding, the loan committee consisting of the Executive Officers and seven members of the Board of Directors must approve by a majority vote all credit decisions in excess of a lending officer’s lending authority. Management believes that it employs experienced lending officers, secures appropriate collateral and carefully monitors the financial condition of its borrowers and loan concentrations. In addition to the internal business processes employed in the credit administration area, Old Line Bank retains an outside independent firm to review the loan portfolio. This firm performs a detailed annual review and an interim update. We use the results of the firm’s report to validate our internal ratings and we review the commentary on specific loans and on our loan administration activities in order to improve our operations. Commercial Real Estate Loans We finance commercial real estate for our clients, for owner occupied and investment properties, hospitality and land acquisition and development. Commercial real estate loans totaled $699 .5 million and $600.7 million at September 30, 2015 and December 31, 2014, respectively. This lending has involved loans secured by owner ‑occupied commercial buildings for office, storage and warehouse space, as well as non ‑owner occupied commercial buildings. Our underwriting criteria for commercial real estate loans include maximum loan ‑to ‑value ratios, debt coverage ratios, secondary sources of repayments, guarantor requirements, net worth requirements and quality of cash flows. Loans secured by commercial real estate may be large in size and may involve a greater degree of risk than one ‑to ‑four family residential mortgage loans. Payments on such loans are often dependent on successful operation or management of the properties. We will generally finance owner occupied commercial real estate that does not exceed loan to value of 80% and investor real estate at a maximum loan to value of 75% . Commercial real estate lending entails significant risks. Risks inherent in managing our commercial real estate portfolio relate to sudden or gradual drops in property values as well as changes in the economic climate that may detrimentally impact the borrower’s ability to repay. We monitor the financial condition and operating performance of the borrower through a review of annual tax returns and updated financial statements. In addition, we meet with the borrower and/or perform site visits as required. At September 30, 2015, we had approximately $98 .6 mi llion of commercial real estate loans outstanding to the hospitality industry. An individual review of these loans indicates that they generally have a low loan to value, more than acceptable existing or projected cash flow, are to experienced operators and are generally dispersed throughout the region. Residential Real Estate Loans We offer a variety of consumer oriented residential real estate loans including home equity lines of credit, home improvement loans and first or second mortgages on owner occupied and investment properties. Our residential loan portfolio amounted to $224.7 million and $211.5 million at September 30, 2015 and December 31, 2014. Although most of these loans are in our primary market area, the diversity of the individual loans in the portfolio reduces our potential risk. Usually, we secure our residential real estate loans with a security interest in the borrower’s primary or secondary residence with a loan to value not exceeding 85% . Our initial underwriting includes an analysis of the borrower’s debt/income ratio which generally may not exceed 43% , collateral value, length of employment and prior credit history. A credit score of 660 is required. We do not originate any subprime residential real estate loans. This segment of our portfolio also consists of funds advanced for construction of custom single family residences homes (where the home buyer is the borrower) and financing to builders for the construction of pre-sold homes and multi ‑family housing. These loans generally have short durations, meaning maturities typically of nine months or less. Old Line Bank limits its construction lending risk through adherence to established underwriting procedures. These loans generally have short durations, meaning maturities typically of nine months or less. Residential houses, multi ‑family dwellings and commercial buildings under construction and the underlying land for which the loan was obtained secure the construction loans. The vast majority of these loans are concentrated in our primary market area. Construction lending also entails significant risk. These risks generally involve larger loan balances concentrated with single borrowers with funds advanced upon the security of the land or the project under construction. An appraisal of the property estimates the value of the project “as is and as if” completed. An appraisal of the property estimates the value of the project prior to completion of construction. Thus, initial funds are advanced based on the current value of the property with the remaining construction funds advanced under a budget sufficient to successfully complete the project within the “as completed” loan to value. To further mitigate the risks, we generally limit loan amounts to 80% or less of appraised values and obtain first lien positions on the property. We generally only offer real estate construction financing only to experienced builders, commercial entities or individuals who have demonstrated the ability to obtain a permanent loan “take ‑out” (conversion to a permanent mortgage upon completion of the project). We also perform a complete analysis of the borrower and the project under construction. This analysis includes a review of the cost to construct, the borrower’s ability to obtain a permanent “take ‑out” the cash flow available to support the debt payments and construction costs in excess of loan proceeds, and the value of the collateral. During construction, we advance funds on these loans on a percentage of completion basis. We inspect each project as needed prior to advancing funds during the term of the construction loan. We may provide permanent financing on the same projects for which we have provided the construction financing. We also offer fixed rate home improvement loans. Our home equity and home improvement loan portfolio gives us a diverse client base. Although most of these loans are in our primary market area, the diversity of the individual loans in the portfolio reduces our potential risk. Usually, we secure our home equity loans and lines of credit with a security interest in the borrower’s primary or secondary residence. Under our loan approval policy, all residential real estate loans approved must comply with federal regulations. Generally, we will make residential mortgage loans in amounts up to the limits established from time to time by Fannie Mae and Freddie Mac for secondary market resale purposes. This amount for single-family residential loans currently varies from $417,000 up to a maximum of $625,500 for certain high-cost designated areas. We also make residential mortgage loans up to limits established by the Federal Housing Administration, which currently is $625,500 . The Washington, D.C. and Baltimore areas are both considered high-cost designated areas. We will, however, make loans in excess of these amounts if we believe that we can sell the loans in the secondary market or that the loans should be held in our portfolio. For loans sold in the secondary market, we require a credit score of at least 640 with some exceptions to 620 for veterans. Loans sold in the secondary market are sold to investors on a servicing released basis and recorded as loans held-for-sale. The premium is recorded in gain on sale of loans in non-interest income, net of commissions paid to the loan officers. Commercial and Industrial Lending Our commercial and industrial lending consists of lines of credit, revolving credit facilities, accounts receivable financing, term loans, equipment loans, SBA loans, standby letters of credit and unsecured loans. We originate commercial loans for any business purpose including the financing of leasehold improvements and equipment, the carrying of accounts receivable, general working capital, and acquisition activities. We have a diverse client base and we do not have a concentration of these types of loans in any specific industry segment. We generally secure commercial business loans with accounts receivable, equipment, deeds of trust and other collateral such as marketable securities, cash value of life insurance and time deposits at Old Line Bank. Commercial business loans have a higher degree of risk than residential mortgage loans because the availability of funds for repayment generally depends on the success of the business. They may also involve high average balances, increased difficulty monitoring and a high risk of default. To help manage this risk, we typically limit these loans to proven businesses and we generally obtain appropriate collateral and personal guarantees from the borrower’s principal owners and monitor the financial condition of the business. For loans in excess of $250,000 , monitoring generally includes a review of the borrower’s annual tax returns and updated financial statements. Consumer Installment Lending We offer various types of secured and unsecured consumer loans. We make consumer loans for personal, family or household purposes as a convenience to our customer base. This category includes our luxury boat loans, which we made prior to 2008 and that remain in our portfolio. Consumer loans, however, are not a focus of our lending activities. The underwriting standards for consumer loans include a determination of the applicant’s payment history on other debts and an assessment of his or her ability to meet existing obligations and payments on the proposed loan. As a general guideline, a consumer’s total debt service should not exceed 40% of his or her gross income. Consumer loans may present greater credit risk than residential mortgage loans because many consumer loans are unsecured or rapidly depreciating assets secure these loans. Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance because of the greater likelihood of damage, loss or depreciation. Consumer loan collections depend on the borrower’s continuing financial stability. If a borrower suffers personal financial difficulties, the consumer may not repay the loan. Also, various federal and state laws, including bankruptcy and insolvency laws, may limit the amount we can recover on such loans. However, in our opinion, many of these risks do not apply to the luxury boat portion of the loan portfolio due to the credit quality and liquidity of these borrowers. Concentrations of Credit Most of our lending activity occurs within the state of Maryland within the suburban Washington, D.C. market area in Anne Arundel, Calvert, Charles, Montgomery, Prince George’s and St. Mary’s Counties. The majority of our loan portfolio consists of commercial real estate loans and residential real estate loans. Non ‑Accrual and Past Due Loans We consider loans past due if the borrower has not paid the required principal and interest payments when due under the original or modified terms of the promissory note and place a loan on non ‑accrual status when the payment of principal or interest has become 90 days past due. When we classify a loan as non ‑accrual, we no longer accrue interest on such loan and we reverse any interest previously accrued but not collected. We will generally restore a non ‑accrual loan to accrual status when the borrower brings delinquent principal and interest payments current and we expect to collect future monthly principal and interest payments. We recognize interest on non ‑accrual legacy loans only when received. We originally recorded purchased, credit ‑impaired loans at fair value upon acquisition, and an accretable yield is established and recognized as interest income on purchased loans to the extent subsequent cash flows support the estimated accretable yield. Purchased, credit ‑impaired loans that perform consistently with the accretable yield expectations are not reported as non ‑accrual or non ‑performing. However, purchased, credit ‑impaired loans that do not continue to perform according to accretable yield expectations are considered impaired, and presented as non ‑accrual and non ‑performing. Currently, management expects to fully collect the carrying value of acquired, credit ‑impaired loans. The table below presents an age analysis of the loans held for investment portfolio at September 30, 2015 and December 31, 2014. Age Analysis of Past Due Loans September 30, 2015 December 31, 2014 Legacy Acquired Total Legacy Acquired Total Current $ $ $ $ $ $ Accruing past due loans: 30-89 days past due Commercial Real Estate: Owner Occupied — — — — Investment — — — — Residential Real Estate: First-Investment — First-Owner Occupied — — Land and A&D — HELOC and Jr. Liens — — — — Commercial — Consumer — — Total 30-89 days past due 90 or more days past due Commercial Real Estate: Owner Occupied — — — — — — Residential Real Estate: First-Investment — — — — — — First-Owner Occupied — — Land and A&D — — — — — — Commercial — — — — Consumer — — — — — — Total 90 or more days past due — Total accruing past due loans Recorded Investment Non-accruing loans: Commercial Real Estate: Owner Occupied Investment — — — — — — Land and A&D — — — — Residential Real Estate: — First-Investment First-Owner Occupied — — Land and A&D — — — — Commercial — — Consumer — — — — Total Recorded Investment Non-accruing loans: Total Loans $ $ $ $ $ $ We consider all non-performing loans and troubled debt restructurings (TDRs) to be impaired. We do not recognize interest income on non-performing loans during the time period that the loans are non-performing. We only recognize interest income on non-performing loans when we receive payment in full for all amounts due of all contractually required principle and interest, and the loan is current with its contractual terms. The tables below present our impaired loans at and for the periods ended September 30, 2015 and December 31, 2014. Impaired Loans September 30, 2015 Three months September 30, 2015 Nine Months Ended September 30, 2015 Unpaid Average Interest Average Interest Principal Recorded Related Recorded Income Recorded Income Balance Investment Allowance Investment Recognized Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ $ $ — $ $ $ $ Investment — Residential Real Estate: First-Investment $ $ $ — $ $ — $ — Commercial — — — With an allowance recorded: Commercial Real Estate: Owner Occupied Investment — — Total legacy impaired Acquired (1) With no related allowance recorded: Commercial Real Estate: Owner Occupied — — — Residential Real Estate: First-Owner Investment — — — First-Owner Occupied — Land and A&D — — — Commercial — With an allowance recorded: Residential Real Estate: First-Owner Investment — — Commercial — — — — — — — Total acquired impaired Total impaired $ $ $ $ $ $ $ (1) Generally accepted accounting principles require that we initially record acquired loans at fair value which includes a discount for loans with credit impairment. These loans are not performing according to their contractual terms and meet the definition of an acquired, credit-impaired loan. Although we do not accrue interest income at the contractual rate on these loans, we do recognize an accretable yield as interest income to the extent such yield is supported by cash flow analysis of the underlying loans. Acquired, credit-impaired loans where the cash flows do not perform according to initial accretable yield estimates are considered impaired. Impaired Loans December 31, 2014 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ $ $ — $ $ Investment — Residential Real Estate: First-Investment — — Commercial — With an allowance recorded: Commercial Consumer Total legacy impaired Acquired (1) With no related allowance recorded: Commercial Real Estate: Owner Occupied — Land and A&D — Residential Real Estate: First-Owner Occupied — Investment — Land and A&D — — — — — Commercial — With an allowance recorded: Commercial Real Estate: Land and A&D Total acquired impaired Total impaired $ $ $ $ $ (1) Generally accepted accounting principles require that we initially record acquired loans at fair value which includes a discount for loans with credit impairment. These loans are not performing according to their contractual terms and meet the definition of an acquired, credit-impaired loan. Although we do not accrue interest income at the contractual rate on these loans, we do recognize an accretable yield as interest income to the extent such yield is supported by cash flow analysis of the underlying loans. Acquired, credit-impaired loans where the cash flows do not perform according to initial accretable yield estimates are considered impaired. We consider a loan a TDR when we conclude that both of the following conditions exist: the restructuring constitutes a concession and the debtor is experiencing financial difficulties. Restructured loans at September 30, 2015 consisted of three loans for $530 thousand compared to four loans at December 31, 2014 for $589 thousand . We had one residential real estate loan that was modified as a TDR during the three and nine month periods ending September 30, 2015 for $228 thousand, and no loans modified as a TDR during the same three and nine month periods last year. We had no loans that were modified as a TDR that defaulted within twelve months of the modification date during the three or nine month periods ending September 30, 2015. Acquired impaired loans The following table documents changes in the accretable (premium) discount on acquired impaired loans during the nine months ended September 30, 2015 and 2014, along with the outstanding balances and related carrying amounts for the beginning and end of those respective periods. Nine Months Ended September 30, 2015 2014 Balance at beginning of period $ $ Accretion of fair value discounts Reclassification from non-accretable Balance at end of period $ $ Contractually Required Payments Receivable Carrying Amount At September 30, 2015 $ $ At December 31, 2014 At September 30, 2014 At December 31, 2013 Credit Quality Indicators We review the adequacy of the allowance for loan losses at least quarterly. We base the evaluation of the adequacy of the allowance for loan losses upon loan categories. We categorize loans as residential real estate loans, commercial real estate loans, commercial loans and consumer loans. We further divide commercial real estate loans by owner occupied, investment, hospitality and land acquisition and development. We also divide residential real estate by owner occupied, investment, land acquisition and development and junior liens. All categories are divided by risk rating and loss factors and weighed by risk rating to determine estimated loss amounts. We evaluate delinquent loans and loans for which management has knowledge about possible credit problems of the borrower or knowledge of problems with collateral separately and assign loss amounts based upon the evaluation. We determine loss ratios for all loans based upon a review of the three year loss ratio for the category and qualitative factors. We charge off loans that management has identified as losses. We consider suggestions from our external loan review firm and bank examiners when determining which loans to charge off. We automatically charge off consumer loan accounts based on regulatory requirements. If a loan that was previously rated a pass performing loan, from our acquisitions, deteriorates subsequent to the acquisition, the subject loan will be assessed for risk and, if necessary, evaluated for impairment. If the risk assessment rating is adversely changed and the loan is determined to not be impaired, the loan will be placed in a migration category and the credit mark established for the loan will be compared to the general reserve allocation that would be applied using the current allowance for loan losses formula for General Reserves. If the credit mark exceeds the allowance for loan losses formula for General Reserves, there will be no change to the allowance for loan losses. If the credit mark is less than the current allowance for loan losses formula for General Reserves, the allowance for loan losses will be increased by the amount of the shortfall by a provision recorded in the income statement. If the loan is deemed impaired, the loan will be subject to evaluation for loss exposure and a specific reserve. If the estimate of loss exposure exceeds the credit mark, the allowance for loan losses will be increased by the amount of the excess loss exposure through a provision. If the credit mark exceeds the estimate of loss exposure there will be no change to the allowance for loan losses. If a loan from the acquired loan portfolio is carrying a specific credit mark and a current evaluation determines that there has been an increase in loss exposure, the allowance for loan losses will be increased by the amount of the current loss exposure in excess of the credit mark. The following tables outline the class of loans by risk rating at September 30, 2015 and December 31, 2014: September 30, 2015 Account Balance Legacy Acquired Total Risk Rating Pass (1-5) Commercial Real Estate: Owner Occupied $ $ $ Investment Hospitality Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens Commercial — Consumer Special Mention (6) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens — Commercial Consumer — — — Substandard (7) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D — — — Residential Real Estate: First-Investment First-Owner Occupied — Land and A&D — HELOC and Jr. Liens — — — Commercial Consumer — — — Doubtful (8) — — — Loss (9) — — — Total $ $ $ December 31, 2014 Account Balance Legacy Acquired Total Risk Rating Pass (1-5) Commercial Real Estate: Owner Occupied $ $ $ Investment Hospitality Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens Commercial Consumer Special Mention (6) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens — Commercial Consumer — — — Substandard (7) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D — — — Residential Real Estate: First-Investment First-Owner Occupied — Land and A&D — HELOC and Jr. Liens — — — Commercial Consumer — Doubtful (8) — — — Loss (9) — — — Total $ $ $ The following table details activity in the allowance for loan losses by portfolio segment for the three and nine month periods ended September 30, 2015 and 2014. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Commercial Residential Three Months Ended September 30, 2015 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Recoveries — Loans charged off — — Ending Balance $ $ $ $ $ Commercial Residential Nine Months Ended September 30, 2015 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Recoveries Loans charged off — Ending Balance $ $ $ $ $ Amount allocated to: Legacy Loans: Individually evaluated for impairment $ $ $ — $ — $ Other loans not individually evaluated Acquired Loans: Individually evaluated for impairment — — — Ending balance $ $ $ $ $ Commercial Residential Three Months Ended September 30, 2014 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Provision for loan losses for loans acquired with deteriorated credit quality — — — Recoveries Loans charged off — Ending Balance $ $ $ $ $ Commercial Residential Nine Months Ended September 30, 2014 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Provision for loan losses for loans acquired with deteriorated credit quality — — Recoveries Loans charged off Ending Balance $ $ $ $ $ Allowance allocated to: Legacy Loans: Individually evaluated for impairment $ $ — $ — $ $ Other loans not individually evaluated Acquired Loans: Individually evaluated for impairment — — — — — Ending balance $ $ $ $ $ Our recorded investment in loans at September 30, 2015 and 2014 related to each balance in the allowance for probable loan losses by portfolio segment and disaggregated on the basis of our impairment methodology was as follows: Commercial Residential September 30, 2015 Commercial Real Estate Real Estate Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ $ $ — $ — $ Individually evaluated for impairment without specific reserve — Other loans not individually evaluated Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) — — — Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) — Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) Ending balance $ $ $ $ $ Commercial Residential September 30, 2014 Commercial Real Estate Real Estate Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ $ — $ — $ $ Individually evaluated for impairment without specific reserve — Other loans not individually evaluated Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) — — — — — Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) — Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) Ending balance $ $ $ $ $

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	9 Months Ended
	Sep. 30, 2015
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED At September 30, 2015 and December 31, 2014, the fair value of other real estate owned was $1.9 million and $2.5 million, respectively. As a result of the acquisitions of Maryland Bankcorp and WSB Holdings, we have segmented the other real estate owned into two components, real estate obtained as a result of loans originated by Old Line Bank (legacy) and other real estate acquired from MB&T and WSB or obtained as a result of loans originated by MB&T and WSB (acquired). The following outlines the transactions in other real estate owned during the period. Nine Months Ended September 30, 2015 Legacy Acquired Total Beginning balance $ $ $ Real estate acquired through foreclosure of loans — Additional write down of real estate owned Sales/deposit on sales — Net realized gain (loss) on sale of real estate owned — Ending balance $ $ $ Residential Foreclosures and Repossessed Assets — Once all potential alternatives for reinstatement are exhausted, past due loans collateralized by residential real estate are referred for foreclosure proceedings in accordance with local requirements of the applicable jurisdiction. Once possession of the property collateralizing the loan is obtained, the repossessed property will be recorded within other assets either as other real estate owned or, where management has both the intent and ability to recover its losses through a government guarantee, as a foreclosure claim receivable. At September 30, 2015, residential foreclosures classified as other real estate owned totaled $961 thousand. Loans secured by residential real estate in process of foreclosure totaled $518 thousand at September 30, 2015 compared to $2.5 million at December 31, 2014.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2015
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	6. EARNINGS PER COMMON SHARE We determine basic earnings per common share by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding giving retroactive effect to stock dividends. We calculate diluted earnings per common share by including the average dilutive common stock equivalents outstanding during the period. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method. Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Weighted average number of shares Dilutive average number of shares

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Sep. 30, 2015
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION	7. STOCK BASED COMPENSATION For the three months ended September 30, 2015 and 2014, we recorded stock-based compensation expense of $118,176 and $ 71,280 , respectively. For the nine months ended September 30, 2015 and 2014, we recorded stock-based compensation expense of $ 300,243 and $ 269,362 , respectively. At September 30, 2015, there was $721,921 of total unrecognized compensation cost related to non-vested stock options and restricted stock awards that we expect to realize over the next 2.5 years. As of September 30, 2015, there were 393,869 shares remaining available for future issuance under the equity incentive plans. The officers exercised 32,000 options during the nine month period ended September 30, 2015 compared to no options exercised for the nine months ended September 30, 2014. For purposes of determining estimated fair value of stock options and restricted stock awards, we have computed the estimated fair values of all stock-based compensation using the Black-Scholes option pricing model and, for stock options and restricted stock awards granted prior to December 31, 2014, have applied the assumptions set forth in Old Line Bancshares’ Annual Report on Form 10-K for the year ended December 31, 2014. During the nine months ended September 30, 2015 and 2014, we granted 50,597 and 50,759 stock options, respectively. The weighted average grant date fair value of these 2015 stock options is $5.09 and was computed using the Black-Scholes option pricing model under similar assumptions. During the nine months ended September 30, 2015 and 2014, we granted 30,726 and 8,257 restricted common stock awards, respectively. The weighted average grant date fair value of these restricted stock awards is $15.31 at September 30, 2015. There were no restricted shares forfeited during the nine month periods ending September 30, 2015 and 2014.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 2015
Fair Value Measurement
Fair Value Measurement	8. FAIR VALUE MEASUREMENT The fair value of an asset or liability is the price that participants would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability, or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The fair value hierarchy established by accounting standards defines three input levels for fair value measurement. The applicable standard describes three levels of inputs that may be used to measure fair value: Level 1 is based on quoted market prices in active markets for identical assets. Level 2 is based on significant observable inputs other than Level 1 prices. Level 3 is based on significant unobservable inputs that reflect a company’s own assumptions about the assumption that market participants would use in pricing an asset or liability. We evaluate fair value measurement inputs on an ongoing basis in order to determine if there is a change of sufficient significance to warrant a transfer between levels. For the nine months ended September 30, 2015 and year ended December 31, 201 4, there were no transfers between levels. At September 30, 2015, we hold, as part of our investment portfolio, available for sale securities reported at fair value consisting of municipal securities, U.S. government sponsored entities, mortgage-backed securities. The fair value of the majority of these securities is determined using widely accepted valuation techniques including matrix pricing and broker-quote based applications. Inputs include benchmark yields, reported trades, issuer spreads, prepayments speeds and other relevant items. These are inputs used by a third-party pricing service used by us. To validate the appropriateness of the valuations provided by the third party, we regularly update the understanding of the inputs used and compare valuations to an additional third party source. We classify all our investment securities available for sale in Level 2 of the fair value hierarchy, with the exception of treasury securities which fall into Level 1. Assets and Liabilities Measured at Fair Value on a Recurring Basis At September 30, 2015 (In thousands) Quoted Prices in Other Significant Total Changes Active Markets for Observable Unobservable in Fair Values Identical Assets Inputs Inputs Included in Carrying Value (Level 1) (Level 2) (Level 3) Period Earnings Available-for-sale: U.S. Treasury securities $ $ $ — $ — $ — U.S. government agency — — — Municipal securities — — — FHLMC MBS — — — FNMA MBS — — — GNMA MBS — — — SBA loan pools — — — Total recurring assets at fair value $ $ $ $ — $ — At December 31, 2014 (In thousands) Quoted Prices in Other Significant Total Changes Active Markets for Observable Unobservable in Fair Values Identical Assets Inputs Inputs Included in Carrying Value (Level 1) (Level 2) (Level 3) Period Earnings Available-for-sale: U.S. Treasury securities $ $ $ — $ — $ — U.S. government agency — — — Municipal securities — — — FHLMC MBS — — — FNMA MBS — — — GNMA MBS — — — SBA loan pools — — — Total recurring assets at fair value — — Our valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes our methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value. Furthermore, we have not comprehensively revalued the fair value amounts since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the above presented amounts. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We may be required from time to time, to measure certain assets at fair value on a non-recurring basis in accordance with U.S. generally accepted accounting principles. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis at September 30, 2015 and December 31, 2014 are included in the tables below. We also measure certain non-financial assets such as other real estate owned, TDRs, and repossessed or foreclosed property at fair value on a non-recurring basis. Generally, we estimate the fair value of these items using Level 2 inputs based on observable market data or Level 3 inputs based on discounting criteria. At September 30, 2015 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ $ — $ — $ Acquired: — — Total Impaired Loans — — Other real estate owned: Legacy: — — Acquired: — — Total other real estate owned: — — Total $ $ — $ — $ At December 31, 2014 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ $ — $ — $ Acquired: — — Total Impaired Loans — — Other real estate owned: Legacy: — — $ Acquired: — — Total other real estate owned: — — Total $ $ — $ — $ As of September 30, 2015 and December 31, 2014, we estimated the fair value of impaired assets using Level 3 inputs to be $6.1 m illion and $9.5 million, respectively. We determined these Level 3 inputs based on appraisal evaluations, offers to purchase and/or appraisals that we obtained from an outside third party during the preceding twelve months less costs to sell. Discounts have predominantly been in the range of 0% to 50% . As a result of the acquisition of Maryland Bankcorp and WSB Holdings, we have segmented the other real estate owned into two components, real estate obtained as a result of loans originated by Old Line Bank (legacy) and other real estate acquired from MB&T and WSB or obtained as a result of loans originated by MB&T and WSB (acquired). We use the following methodologies for estimating fair values of financial instruments that we do not measure on a recurring basis. The estimated fair values of financial instruments equal the carrying value of the instruments except as noted. Cash and Cash Equivalents - For cash and cash equivalents, the carrying amount is a reasonable estimate of fair value because of the short maturities of these instruments. Loans- We estimate the fair value of loans, segregated by type based on similar financial characteristics, by discounting future cash flows using current rates for which we would make similar loans to borrowers with similar credit histories. We then adjust this calculated amount for any credit impairment. Loans held for Sale- Loans held for sale are carried at the lower of cost or market value. The fair values of loans held for sale are based on commitments on hand from investors within the secondary market for loans with similar characteristics. Investment Securities- We base the fair values of investment securities upon quoted market prices or dealer quotes. Equity Securities- Equity securities are considered restricted stock and are carried at cost which approximates fair value. Bank Owned Life Insurance - The carrying amount of Bank Owned Life Insurance (“BOLI”) purchased on a group of officers is a reasonable estimate of fair value. BOLI is an insurance product that provides an effective way to offset current employee benefit costs. Accrued Interest Receivable and Payable- The carrying amount of accrued interest and dividends receivable on loans and investments and payable on borrowings and deposits approximate their fair values. Interest bearing deposits- The fair value of demand deposits and savings accounts is the amount payable on demand. We estimate the fair value of fixed maturity certificates of deposit using the rates currently offered for deposits of similar remaining maturities. Non-Interest bearing deposits- The fair value of non-interest bearing accounts is the amount payable on demand at the reporting date. Long and short term borrowings- The fair value of long and short term fixed rate borrowings is estimated by discounting the value of contractual cash flows using rates currently offered for advances with similar terms and remaining maturities. Off-balance Sheet Commitments and Contingencies- Carrying amounts are reasonable estimates of the fair values for such financial instruments. Carrying amounts include unamortized fee income and, in some cases, reserves for any credit losses from those financial instruments. These amounts are not material to our financial position. Under ASC Topic 825, entities may choose to measure eligible financial instruments at fair value at specified election dates. The fair value measurement option (i) may be applied instrument by instrument, with certain exceptions, (ii) is generally irrevocable and (iii) is applied only to entire instruments and not to portions of instruments. We must report in earnings unrealized gains and losses on items for which we have elected the fair value measurement option at each subsequent reporting date. We measure certain financial assets and financial liabilities at fair value on a non-recurring basis. These assets and liabilities are subject to fair value adjustments in certain circumstances such as when there is evidence of impairment. September 30, 2015 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ $ $ $ — $ — Loans receivable, net — — Loans held for sale — — Investment securities available for sale — Equity Securities at cost — — Bank Owned Life Insurance — — Accrued interest receivable — Liabilities: Deposits: Non-interest-bearing — — Interest bearing — — Short term borrowings — — Long term borrowings — — Accrued Interest payable — — December 31, 2014 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ $ $ $ — $ — Loans receivable, net — — Loans held for sale — — Investment securities available for sale — Equity Securities at cost — — Bank Owned Life Insurance — — Accrued interest receivable — Liabilities: Deposits: Non-interest-bearing — — Interest bearing — — Short term borrowings — — Long term borrowings — — Accrued Interest payable — —

Short Term Borrowings

Short Term Borrowings	9 Months Ended
	Sep. 30, 2015
Short Term Borrowings
Short Term Borrowings	9. SHORT TERM BORROWINGS Short term borrowings consist of promissory notes or overnight repurchase agreements sold to the Bank’s customers, federal funds purchased and advances from the FHLB. Securities Sold Under Agreements to Repurchase To support the $33.2 million in repurchase agreements at September 30, 2015, we have provided collateral in the form of investment securities. At September 30, 2015, we have pledged $40.8 million in U.S. government agency securities and mortgage-backed securities to customers who require collateral for overnights repurchase agreements and deposits. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. As a result, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. We monitor collateral levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities in the event the collateral fair value falls below stipulated levels. We closely monitor the collateral levels to ensure adequate levels are maintained. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. We have the right to sell or re-pledge the investment securities. For government entity repurchase agreements, the collateral is held by Old Line Bank in a segregated custodial account under a tri-party agreement. The repurchase agreements totaling $33.2 million mature daily and will remain fully collateralized until the account has been closed or terminated

REGAL ACQUISITION

REGAL ACQUISITION	9 Months Ended
	Sep. 30, 2015
Regal Acquisition
Regal Acquisition	10. REGAL ACQUISITION On August 5, 2015, Old Line Bancshares entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Regal Bancorp, Inc., a Maryland corporation (“Regal”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Regal will merge with and into Old Line Bancshares,, with Old Line Bancshares continuing as the surviving entity (the “Merger”). Immediately following the consummation of the Merger, Regal Bank & Trust, a trust company with commercial banking powers chartered under the laws of the State of Maryland and wholly-owned subsidiary of Regal (“Regal Bank”), will merge with and into Old Line Bank, with Old Line Bank continuing as the surviving entity. The Merger Agreement was approved by the Board of Directors of each of Old Line and Regal. Regal stockholders may seek appraisal rights as objecting stockholders under Maryland law. Subject to the terms and conditions of the Merger Agreement, upon completion of the Merger, holders of Regal common stock will have the right to receive either 0.7718 shares (the “Exchange Ratio”) of Old Line Bancshares common stock or $12.68 in cash for each share of Regal common stock they own, for aggregate consideration of approximately $5.6 million, and holders of Regal preferred stock will have the right to receive $2.00 in cash for each share of Regal preferred stock they own, or an aggregate of approximately $1.0 million. At least 50% of the shares of Regal common stock will be exchanged for shares of Old Line common stock with the remainder being exchanged for cash in the Merger, depending on the elections of Regal stockholders in this regard and any adjustment necessary to ensure that the Merger is considered a tax-free reorganization for Federal tax purposes. The Exchange Ratio is subject to customary anti-dilution adjustments in the event of stock splits, stock dividends and similar transactions involving Old Line common stock. The acquisition will increase Old Line Bancshares’ total assets by more than $133 million for total assets immediately after closing of approximately $1.5 billion. Old Line has received regulatory approvals and is awaiting Regal stockholder approval for the merger to proceed and plans to complete the merger on December 4, 2015.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Summary of Significant Accounting Policies
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation - The accompanying condensed consolidated financial statements include the activity of Old Line Bancshares and its wholly owned subsidiary, Old Line Bank, and its majority owned subsidiary Pointer Ridge Office Investments, LLC (Pointer Ridge), a real estate investment company. We have eliminated all significant intercompany transactions and balances. We report the non-controlling interests in Pointer Ridge separately in the consolidated balance sheet. We report the income of Pointer Ridge attributable to Old Line Bancshares on the consolidated statement of income. The foregoing consolidated financial statements for the periods ended September 30, 2015 and 2014 are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (US GAAP); however, in the opinion of management we have included all adjustments (comprising only normal recurring accruals) necessary for a fair presentation of the results of the interim period. We derived the balances as of December 31, 2014 from audited financial statements. These statements should be read in conjunction with Old Line Bancshares’ financial statements and accompanying notes included in Old Line Bancshares’ Form 10-K for the year ended December 31, 2014. We have made no significant changes to Old Line Bancshares’ accounting policies as disclosed in the Form 10-K.
Use of estimates	Use of estimates - The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions may affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. A material estimate that is particularly susceptible to significant change in the near term relates to the determination of the allowance for loan losses
Reclassifications	Reclassifications - We have made certain reclassifications to the 2014 financial presentation to conform to the 2015 presentation. These reclassifications did not change net income or stockholders’ equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements – In September 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments . The amendments in ASU No. 2015-16 require that an acquirer recognize adjustments to estimated amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the estimated amounts, calculated as if the accounting had been completed at the acquisition date. The amendments also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the estimated amounts had been recognized as of the acquisition date. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments should be applied prospectively to adjustments to provisional amounts that occur after the effective date with earlier application permitted for financial statements that have not been issued. The Company is currently evaluating the provisions of this amendment to determine the potential impact the new standard will have on the Company's consolidated financial statements as it relates to future business combinations. I n August 2014, the FASB issued ASU No. 2014-14- Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure , to address the diversity in practice regarding the classification and measurement of foreclosed loans which were part of a government-sponsored loan guarantee program (e.g. HUD, FHA, VA). The ASU outlines certain criteria and provides that, if met, the loan (residential or commercial) should be derecognized and a separate other receivable should be recorded upon foreclosure at the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This ASU will be effective for annual reporting periods beginning after December 15, 2014, including interim periods within that reporting period. The adoption of ASU No. 2014-14 did not have a material impact on our consolidated financial statements and the required disclosures have been included in Note 5. In June 2014, the FASB issued ASU No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The new guidance aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement, which has resulted in outcomes referred to as off-balance-sheet accounting. The amendments in the ASU require a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The amendments in the ASU also require expanded disclosures, effective for the current reporting period of September 30, 2015, about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings (see Note 9 to the Consolidated Financial Statements). We adopted the amendments in this ASU effective January 1, 2015. As of September 30, 2015, all of our repurchase agreements were typical in nature (i.e., not repurchase-to-maturity transactions or repurchase agreements executed as a repurchase financing) and are accounted for as secured borrowings. As such, the adoption of ASU No. 2014-11 did not have a material impact on our consolidated financial statements.

POINTER RIDGE OFFICE INVESTME21

POINTER RIDGE OFFICE INVESTMENT, LLC (Tables)	9 Months Ended
	Sep. 30, 2015
Pointer Ridge Office Investment, LLC
Summary of condensed Balance Sheets and Statements of Income information	The following table summarizes the condensed Balance Sheets and Statements of Income information for Pointer Ridge Office Investment, LLC. September 30, December 31, Balance Sheets 2015 2014 Current assets $ $ Non-current assets Liabilities Equity Three Months Ended Nine Months Ended September 30, September 30, Statements of Income 2015 2014 2015 2014 Revenue $ $ $ $ Expenses Net income (loss) $ $ $ $

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Investment Securities
Summary of the amortized cost and estimated fair value of securities	Gross Gross Amortized unrealized unrealized Estimated cost gains losses fair value September 30, 2015 Available for sale U.S. treasury $ $ $ — $ U.S. government agency Municipal securities Mortgage backed securities: FHLMC certificates FNMA certificates GNMA certificates SBA loan pools — $ $ $ $ December 31, 2014 Available for sale U.S. treasury $ $ $ — $ U.S. government agency Municipal securities Mortgage backed securities FHLMC certificates FNMA certificates GNMA certificates SBA loan pools — $ $ $ $
Schedule of securities with unrealized losses segregated by length of impairment	September 30, 2015 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. Treasury $ — $ — $ — $ — $ — $ — U.S. government agency Municipal securities Mortgage backed securities SBA loan pools — — Total unrealized losses $ $ $ $ $ $ December 31, 2014 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. government agency $ $ $ $ $ $ Municipal securities Mortgage backed securities SBA loan pools — — Total unrealized losses $ $ $ $ $ $
Schedule of contractual maturities and pledged securities	Available for Sale Amortized Fair September 30, 2015 cost value Maturing Within one year $ $ Over one to five years Over five to ten years Over ten years $ $ Pledged securities $ $

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Sep. 30, 2015
Loans and Allowance for Loan Losses
Summary of major classifications of loans held for investment	September 30, 2015 December 31, 2014 Legacy (1) Acquired Total Legacy (1) Acquired Total Commercial Real Estate Owner Occupied $ $ $ $ $ $ Investment Hospitality Land and A&D Residential Real Estate First Lien-Investment First Lien-Owner Occupied Residential Land and A&D HELOC and Jr. Liens Commercial and Industrial Consumer Allowance for loan losses Deferred loan costs, net — $ $ $ $ $ $ (1) As a result of the acquisitions of Maryland Bankcorp, Inc. (Maryland Bankcorp), the parent company of Maryland Bank & Trust Company, N.A. (MB&T), in April 2011 and of WSB Holdings, the parent company of The Washington Savings Bank (“WSB”), in May 2013, we have segmented the portfolio into two components, loans originated by Old Line Bank “Legacy” and loans acquired from MB&T and WSB “Acquired”.
Summary of aging analysis of the loan held for investment portfolio	Age Analysis of Past Due Loans September 30, 2015 December 31, 2014 Legacy Acquired Total Legacy Acquired Total Current $ $ $ $ $ $ Accruing past due loans: 30-89 days past due Commercial Real Estate: Owner Occupied — — — — Investment — — — — Residential Real Estate: First-Investment — First-Owner Occupied — — Land and A&D — HELOC and Jr. Liens — — — — Commercial — Consumer — — Total 30-89 days past due 90 or more days past due Commercial Real Estate: Owner Occupied — — — — — — Residential Real Estate: First-Investment — — — — — — First-Owner Occupied — — Land and A&D — — — — — — Commercial — — — — Consumer — — — — — — Total 90 or more days past due — Total accruing past due loans Recorded Investment Non-accruing loans: Commercial Real Estate: Owner Occupied Investment — — — — — — Land and A&D — — — — Residential Real Estate: — First-Investment First-Owner Occupied — — Land and A&D — — — — Commercial — — Consumer — — — — Total Recorded Investment Non-accruing loans: Total Loans $ $ $ $ $ $
Summary of impaired loans	Impaired Loans September 30, 2015 Three months September 30, 2015 Nine Months Ended September 30, 2015 Unpaid Average Interest Average Interest Principal Recorded Related Recorded Income Recorded Income Balance Investment Allowance Investment Recognized Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ $ $ — $ $ $ $ Investment — Residential Real Estate: First-Investment $ $ $ — $ $ — $ — Commercial — — — With an allowance recorded: Commercial Real Estate: Owner Occupied Investment — — Total legacy impaired Acquired (1) With no related allowance recorded: Commercial Real Estate: Owner Occupied — — — Residential Real Estate: First-Owner Investment — — — First-Owner Occupied — Land and A&D — — — Commercial — With an allowance recorded: Residential Real Estate: First-Owner Investment — — Commercial — — — — — — — Total acquired impaired Total impaired $ $ $ $ $ $ $ (1) Generally accepted accounting principles require that we initially record acquired loans at fair value which includes a discount for loans with credit impairment. These loans are not performing according to their contractual terms and meet the definition of an acquired, credit-impaired loan. Although we do not accrue interest income at the contractual rate on these loans, we do recognize an accretable yield as interest income to the extent such yield is supported by cash flow analysis of the underlying loans. Acquired, credit-impaired loans where the cash flows do not perform according to initial accretable yield estimates are considered impaired. Impaired Loans December 31, 2014 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ $ $ — $ $ Investment — Residential Real Estate: First-Investment — — Commercial — With an allowance recorded: Commercial Consumer Total legacy impaired Acquired (1) With no related allowance recorded: Commercial Real Estate: Owner Occupied — Land and A&D — Residential Real Estate: First-Owner Occupied — Investment — Land and A&D — — — — — Commercial — With an allowance recorded: Commercial Real Estate: Land and A&D Total acquired impaired Total impaired $ $ $ $ $
Schedule of the outstanding balances and related carrying amounts of acquired impaired loans	Nine Months Ended September 30, 2015 2014 Balance at beginning of period $ $ Accretion of fair value discounts Reclassification from non-accretable Balance at end of period $ $ Contractually Required Payments Receivable Carrying Amount At September 30, 2015 $ $ At December 31, 2014 At September 30, 2014 At December 31, 2013
Schedule of allocation of allowance for loan losses by risk rating	September 30, 2015 Account Balance Legacy Acquired Total Risk Rating Pass (1-5) Commercial Real Estate: Owner Occupied $ $ $ Investment Hospitality Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens Commercial — Consumer Special Mention (6) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens — Commercial Consumer — — — Substandard (7) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D — — — Residential Real Estate: First-Investment First-Owner Occupied — Land and A&D — HELOC and Jr. Liens — — — Commercial Consumer — — — Doubtful (8) — — — Loss (9) — — — Total $ $ $ December 31, 2014 Account Balance Legacy Acquired Total Risk Rating Pass (1-5) Commercial Real Estate: Owner Occupied $ $ $ Investment Hospitality Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens Commercial Consumer Special Mention (6) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D Residential Real Estate: First-Investment First-Owner Occupied Land and A&D HELOC and Jr. Liens — Commercial Consumer — — — Substandard (7) Commercial Real Estate: Owner Occupied Investment Hospitality — — — Land and A&D — — — Residential Real Estate: First-Investment First-Owner Occupied — Land and A&D — HELOC and Jr. Liens — — — Commercial Consumer — Doubtful (8) — — — Loss (9) — — — Total $ $ $
Summary of activity in the allowance for loan losses by portfolio segment	Commercial Residential Three Months Ended September 30, 2015 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Recoveries — Loans charged off — — Ending Balance $ $ $ $ $ Commercial Residential Nine Months Ended September 30, 2015 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Recoveries Loans charged off — Ending Balance $ $ $ $ $ Amount allocated to: Legacy Loans: Individually evaluated for impairment $ $ $ — $ — $ Other loans not individually evaluated Acquired Loans: Individually evaluated for impairment — — — Ending balance $ $ $ $ $ Commercial Residential Three Months Ended September 30, 2014 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Provision for loan losses for loans acquired with deteriorated credit quality — — — Recoveries Loans charged off — Ending Balance $ $ $ $ $ Commercial Residential Nine Months Ended September 30, 2014 Commercial Real Estate Real Estate Consumer Total Beginning balance $ $ $ $ $ General provision for loan losses Provision for loan losses for loans acquired with deteriorated credit quality — — Recoveries Loans charged off Ending Balance $ $ $ $ $ Allowance allocated to: Legacy Loans: Individually evaluated for impairment $ $ — $ — $ $ Other loans not individually evaluated Acquired Loans: Individually evaluated for impairment — — — — — Ending balance $ $ $ $ $
Summary of recorded investment in loans related to each balance in the allowance for probable loan losses by portfolio segment and disaggregated on the basis of impairment methodology	Our recorded investment in loans at September 30, 2015 and 2014 related to each balance in the allowance for probable loan losses by portfolio segment and disaggregated on the basis of our impairment methodology was as follows: Commercial Residential September 30, 2015 Commercial Real Estate Real Estate Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ $ $ — $ — $ Individually evaluated for impairment without specific reserve — Other loans not individually evaluated Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) — — — Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) — Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) Ending balance $ $ $ $ $ Commercial Residential September 30, 2014 Commercial Real Estate Real Estate Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ $ — $ — $ $ Individually evaluated for impairment without specific reserve — Other loans not individually evaluated Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) — — — — — Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) — Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) Ending balance $ $ $ $ $

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	9 Months Ended
	Sep. 30, 2015
OTHER REAL ESTATE OWNED
Schedule of transactions in other real estate owned during the period	Nine Months Ended September 30, 2015 Legacy Acquired Total Beginning balance $ $ $ Real estate acquired through foreclosure of loans — Additional write down of real estate owned Sales/deposit on sales — Net realized gain (loss) on sale of real estate owned — Ending balance $ $ $

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
EARNINGS PER COMMON SHARE
Schedule of weighted average and dilutive average number of shares	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Weighted average number of shares Dilutive average number of shares

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Measurement
Schedule of assets and liabilities measured at fair value on a recurring basis	At September 30, 2015 (In thousands) Quoted Prices in Other Significant Total Changes Active Markets for Observable Unobservable in Fair Values Identical Assets Inputs Inputs Included in Carrying Value (Level 1) (Level 2) (Level 3) Period Earnings Available-for-sale: U.S. Treasury securities $ $ $ — $ — $ — U.S. government agency — — — Municipal securities — — — FHLMC MBS — — — FNMA MBS — — — GNMA MBS — — — SBA loan pools — — — Total recurring assets at fair value $ $ $ $ — $ — At December 31, 2014 (In thousands) Quoted Prices in Other Significant Total Changes Active Markets for Observable Unobservable in Fair Values Identical Assets Inputs Inputs Included in Carrying Value (Level 1) (Level 2) (Level 3) Period Earnings Available-for-sale: U.S. Treasury securities $ $ $ — $ — $ — U.S. government agency — — — Municipal securities — — — FHLMC MBS — — — FNMA MBS — — — GNMA MBS — — — SBA loan pools — — — Total recurring assets at fair value — —
Schedule of assets and liabilities measured at fair value on a nonrecurring basis	At September 30, 2015 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ $ — $ — $ Acquired: — — Total Impaired Loans — — Other real estate owned: Legacy: — — Acquired: — — Total other real estate owned: — — Total $ $ — $ — $ At December 31, 2014 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ $ — $ — $ Acquired: — — Total Impaired Loans — — Other real estate owned: Legacy: — — $ Acquired: — — Total other real estate owned: — — Total $ $ — $ — $
Schedule of estimated fair value of financial instruments	September 30, 2015 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ $ $ $ — $ — Loans receivable, net — — Loans held for sale — — Investment securities available for sale — Equity Securities at cost — — Bank Owned Life Insurance — — Accrued interest receivable — Liabilities: Deposits: Non-interest-bearing — — Interest bearing — — Short term borrowings — — Long term borrowings — — Accrued Interest payable — — December 31, 2014 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ $ $ $ — $ — Loans receivable, net — — Loans held for sale — — Investment securities available for sale — Equity Securities at cost — — Bank Owned Life Insurance — — Accrued interest receivable — Liabilities: Deposits: Non-interest-bearing — — Interest bearing — — Short term borrowings — — Long term borrowings — — Accrued Interest payable — —

POINTER RIDGE OFFICE INVESTME27

POINTER RIDGE OFFICE INVESTMENT, LLC (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Condensed Balance Sheets
Liabilities	$ 1,193,105,350		$ 1,193,105,350		$ 1,091,992,367
Equity	138,273,003		138,273,003		135,526,637
Condensed Statements of Income
Net income	3,114,854	$ 1,740,247	$ 8,461,985	$ 5,310,070
Pointer Ridge
Pointer Ridge Office Investment, LLC
Ownership percentage			62.50%
Condensed Balance Sheets
Current assets	337,111		$ 337,111		269,314
Non-current assets	6,287,033		6,287,033		6,433,380
Liabilities	5,938,056		5,938,056		6,003,139
Equity	686,088		686,088		$ 699,555
Condensed Statements of Income
Revenue	249,020	239,344	736,278	706,791
Expenses	241,303	250,808	749,745	817,989
Net income	$ 7,717	$ (11,464)	$ (13,467)	$ (111,198)
Pointer Ridge | One of the Directors [Member]
Pointer Ridge Office Investment, LLC
Ownership percentage			12.50%

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Investment securities
Amortized cost	$ 150,928,155	$ 161,923,365
Gross unrealized gains	1,179,071	1,359,421
Gross unrealized losses	(584,835)	(1,602,588)
Estimated fair value	151,522,391	161,680,198
U. S. treasury
Investment securities
Amortized cost	3,000,156	3,000,690
Gross unrealized gains	3,125	5,460
Estimated fair value	3,003,281	3,006,150
U.S. government agency
Investment securities
Amortized cost	36,924,874	38,594,843
Gross unrealized gains	58,343	15,851
Gross unrealized losses	(40,985)	(954,362)
Estimated fair value	36,942,232	37,656,332
Municipal securities
Investment securities
Amortized cost	38,286,660	42,662,399
Gross unrealized gains	836,459	980,452
Gross unrealized losses	(32,653)	(96,690)
Estimated fair value	39,090,466	43,546,161
FHLMC certificates
Investment securities
Amortized cost	19,461,439	20,323,394
Gross unrealized gains	147,991	150,735
Gross unrealized losses	(6,707)	(3,182)
Estimated fair value	19,602,723	20,470,947
FNMA certificates
Investment securities
Amortized cost	18,637,790	17,898,497
Gross unrealized gains	61,744	61,472
Gross unrealized losses	(92,803)	(93,163)
Estimated fair value	18,606,731	17,866,806
GNMA certificates
Investment securities
Amortized cost	29,757,464	33,266,203
Gross unrealized gains	71,409	145,451
Gross unrealized losses	(307,424)	(272,309)
Estimated fair value	29,521,449	33,139,345
SBA loan pools
Investment securities
Amortized cost	4,859,772	6,177,339
Gross unrealized losses	(104,263)	(182,882)
Estimated fair value	$ 4,755,509	$ 5,994,457

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 2)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)securityitem	Sep. 30, 2014item	Sep. 30, 2015USD ($)securityitem	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)security
Investment securities
Less than 12 months, Fair value	$ 18,473,971		$ 18,473,971		$ 12,514,622
Less than 12 months, Unrealized losses	123,093		123,093		37,322
12 Months or More, Fair value	46,297,690		46,297,690		72,118,939
12 Months or More, Unrealized losses	461,742		461,742		1,565,266
Total, Fair value	64,771,662		64,771,662		84,633,561
Total, Unrealized losses	$ 584,835		$ 584,835		$ 1,602,588
Gross realized gains and proceeds from sales or calls of investment securities
Number of securities in an unrealized loss position for greater than 12 months | security	57		57
Number of securities in an unrealized loss position for less than 12 months | security	35		35		12
Gains on sales or calls of investment securities	$ 604		$ 65,222	$ 129,911
Number of bonds sold | item	2	0	2
Net realized gains (losses) from the sale or call of investment securities	$ 604,000		$ 65,000	130,000
Number of bonds called | item			6
Number of matured agency security | item			1
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities			$ 15,715,011	12,789,072
Gross realized gains from the sale or call of investment securities	4,783,000		69,000	239,000
Gross realized losses from the sale or call of investment securities	4,179,000		$ 4,000	$ 109,000
Number of small business administration mortgage backed securities paid off | item			1
U.S. government agency
Investment securities
Less than 12 months, Fair value	2,463,027		$ 2,463,027		$ 1,492,650
Less than 12 months, Unrealized losses	1,585		1,585		6,543
12 Months or More, Fair value	20,455,593		20,455,593		32,497,194
12 Months or More, Unrealized losses	39,400		39,400		947,819
Total, Fair value	22,918,620		22,918,620		33,989,844
Total, Unrealized losses	40,985		40,985		954,362
Municipal securities
Investment securities
Less than 12 months, Fair value	1,392,117		1,392,117		2,054,635
Less than 12 months, Unrealized losses	9,829		9,829		19,397
12 Months or More, Fair value	1,504,049		1,504,049		4,617,972
12 Months or More, Unrealized losses	22,824		22,824		77,293
Total, Fair value	2,896,166		2,896,166		6,672,607
Total, Unrealized losses	$ 32,653		32,653		96,690
Gross realized gains and proceeds from sales or calls of investment securities
Number of bonds called | item	3
Mortgage backed securities
Investment securities
Less than 12 months, Fair value	$ 14,618,827		14,618,827		8,967,337
Less than 12 months, Unrealized losses	111,679		111,679		11,382
12 Months or More, Fair value	19,582,539		19,582,539		29,009,316
12 Months or More, Unrealized losses	295,255		295,255		357,272
Total, Fair value	34,201,367		34,201,367		37,976,653
Total, Unrealized losses	406,934		406,934		368,654
SBA loan pools
Investment securities
12 Months or More, Fair value	4,755,509		4,755,509		5,994,457
12 Months or More, Unrealized losses	104,263		104,263		182,882
Total, Fair value	4,755,509		4,755,509		5,994,457
Total, Unrealized losses	$ 104,263		$ 104,263		$ 182,882

INVESTMENT SECURITIES (Detail30

INVESTMENT SECURITIES (Details 3) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Available for Sale, Amortized cost
Within one year	$ 3,300,167
Over one to five years	28,427,672
Over five to ten years	21,691,282
Over ten years	97,509,034
Total available for sale, Amortized cost	150,928,155	$ 161,923,365
Available for Sale, Fair value
Within one year	3,303,806
Over one to five years	28,502,767
Over five to ten years	21,941,297
Over ten years	97,774,521
Estimated fair value	151,522,391	$ 161,680,198
Pledged securities
Amortized cost	40,793,492
Fair value	$ 40,742,521

LOANS (Details)

LOANS (Details)	9 Months Ended
	Sep. 30, 2015USD ($)item	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Held-for-investment
Total before allowance and deferred loan cost	$ 1,043,411,878		$ 929,581,791	$ 886,738,684
Allowance for loan losses	(4,453,714)	$ (4,435,912)	(4,281,835)	(3,872,197)	$ (6,324,583)	$ (4,929,213)
Deferred loan costs, net	1,269,781		1,273,532
Total Loans	1,040,227,945		926,573,488
Commercial real estate loans	699,500,000		600,700,000
Residential Loan Portfolio	$ 224,700,000		211,500,000
Credit score required for loans sold in secondary market | item	640
Credit score required for loans sold in secondary market to veterans | item	620
Hospitality
Held-for-investment
Commercial real estate loans	$ 98,600,000
Commercial Real Estate
Held-for-investment
Total before allowance and deferred loan cost	699,548,071			558,516,970
Allowance for loan losses	$ (2,871,723)	(2,775,654)	(2,558,368)	(2,156,251)	(4,861,232)	(3,569,395)
Financing Percentage Maximum	80
Commercial Real Estate | Owner Occupied
Held-for-investment
Total before allowance and deferred loan cost	$ 224,673,514		220,614,855
Commercial Real Estate | Investment
Held-for-investment
Total before allowance and deferred loan cost	324,596,868		250,390,883
Commercial Real Estate | Hospitality
Held-for-investment
Total before allowance and deferred loan cost	98,621,565		84,662,560
Commercial Real Estate | Land and A&D
Held-for-investment
Total before allowance and deferred loan cost	$ 51,656,124		45,046,259
Investor Real Estate [Member]
Held-for-investment
Financing Percentage Maximum	75
Residential Real Estate
Held-for-investment
Total before allowance and deferred loan cost	$ 224,716,760			211,006,146
Allowance for loan losses	$ (602,694)	(756,120)	(926,995)	(1,083,752)	(721,188)	(841,234)
Credit Score Required | item	660
Residential Real Estate | Maximum
Held-for-investment
Loan to value ratio (as a percent)	85.00%
Debt to income ratio required (as a percent)	43.00%
Residential Real Estate | First Lien-Investment
Held-for-investment
Total before allowance and deferred loan cost	$ 81,028,398		73,764,433
Residential Real Estate | First Lien-Owner Occupied
Held-for-investment
Total before allowance and deferred loan cost	79,292,432		83,065,128
Residential Real Estate | Residential Land and A&D
Held-for-investment
Total before allowance and deferred loan cost	39,260,653		30,748,902
Residential Real Estate | HELOC and Jr. Liens
Held-for-investment
Total before allowance and deferred loan cost	25,135,277		23,901,486
Single-family residential loans | Minimum
Held-for-investment
Loans, permissible amount under federal regulations	417,000
Single-family residential loans | Maximum
Held-for-investment
Loans, permissible amount under federal regulations	625,500
Commercial & Industrial Loans
Held-for-investment
Total before allowance and deferred loan cost	112,532,190		108,004,791
Consumer
Held-for-investment
Total before allowance and deferred loan cost	6,614,857		9,382,494	10,023,391
Allowance for loan losses	(32,750)	(31,090)	(100,101)	(47,622)	(67,788)	(23,533)
Commercial
Held-for-investment
Total before allowance and deferred loan cost	112,532,190			107,465,474
Allowance for loan losses	(946,547)	$ (873,048)	(696,371)	$ (584,572)	$ (674,375)	$ (495,051)
Minimum threshold amount of loan for which financial condition and operating performance of the borrower is monitored	250,000
Legacy
Held-for-investment
Total before allowance and deferred loan cost	891,407,445		749,967,997
Allowance for loan losses	(4,365,000)		(4,261,835)
Deferred loan costs, net	1,269,781		1,283,455
Total Loans	$ 888,312,226		746,989,617
Number of components segmented in loan portfolio | item	2
Legacy | Commercial Real Estate | Owner Occupied
Held-for-investment
Total before allowance and deferred loan cost	$ 198,799,617		192,723,718
Legacy | Commercial Real Estate | Investment
Held-for-investment
Total before allowance and deferred loan cost	289,572,119		208,766,058
Legacy | Commercial Real Estate | Hospitality
Held-for-investment
Total before allowance and deferred loan cost	90,559,043		76,342,916
Legacy | Commercial Real Estate | Land and A&D
Held-for-investment
Total before allowance and deferred loan cost	46,953,976		40,260,506
Legacy | Residential Real Estate | First Lien-Investment
Held-for-investment
Total before allowance and deferred loan cost	62,479,229		49,578,862
Legacy | Residential Real Estate | First Lien-Owner Occupied
Held-for-investment
Total before allowance and deferred loan cost	35,977,798		31,822,773
Legacy | Residential Real Estate | Residential Land and A&D
Held-for-investment
Total before allowance and deferred loan cost	32,485,403		22,239,663
Legacy | Residential Real Estate | HELOC and Jr. Liens
Held-for-investment
Total before allowance and deferred loan cost	22,648,628		20,854,737
Legacy | Commercial & Industrial Loans
Held-for-investment
Total before allowance and deferred loan cost	105,536,024		98,310,009
Legacy | Consumer
Held-for-investment
Total before allowance and deferred loan cost	6,395,608		9,068,755
Acquired
Held-for-investment
Total before allowance and deferred loan cost	152,004,433		179,613,794
Allowance for loan losses	(88,714)		(20,000)
Deferred loan costs, net			(9,923)
Total Loans	151,915,719		179,583,871
Acquired | Commercial Real Estate | Owner Occupied
Held-for-investment
Total before allowance and deferred loan cost	25,873,897		27,891,137
Acquired | Commercial Real Estate | Investment
Held-for-investment
Total before allowance and deferred loan cost	35,024,749		41,624,825
Acquired | Commercial Real Estate | Hospitality
Held-for-investment
Total before allowance and deferred loan cost	8,062,522		8,319,644
Acquired | Commercial Real Estate | Land and A&D
Held-for-investment
Total before allowance and deferred loan cost	4,702,148		4,785,753
Acquired | Residential Real Estate | First Lien-Investment
Held-for-investment
Total before allowance and deferred loan cost	18,549,169		24,185,571
Acquired | Residential Real Estate | First Lien-Owner Occupied
Held-for-investment
Total before allowance and deferred loan cost	43,314,634		51,242,355
Acquired | Residential Real Estate | Residential Land and A&D
Held-for-investment
Total before allowance and deferred loan cost	6,775,250		8,509,239
Acquired | Residential Real Estate | HELOC and Jr. Liens
Held-for-investment
Total before allowance and deferred loan cost	2,486,649		3,046,749
Acquired | Commercial & Industrial Loans
Held-for-investment
Total before allowance and deferred loan cost	6,996,166		9,694,782
Acquired | Consumer
Held-for-investment
Total before allowance and deferred loan cost	$ 219,249		$ 313,739

LOANS (Details 2)

LOANS (Details 2) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Aging analysis of the loan held for investment portfolio
Current	$ 1,037,934,601	$ 920,107,077
Accruing past due loans:
Total accruing past due loans	3,649,880	4,267,507
Total Recorded Investment Non-accruing past due loans:	1,827,397	5,207,207
Total loans	1,043,411,878	929,581,791	$ 886,738,684
Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	3,233,269	3,962,184
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	416,611	305,323
Commercial Real Estate
Accruing past due loans:
Total loans	699,548,071		558,516,970
Commercial Real Estate | Owner Occupied
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	69,365	1,905,392
Total loans	224,673,514	220,614,855
Commercial Real Estate | Owner Occupied | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	1,149,985
Commercial Real Estate | Investment
Accruing past due loans:
Total loans	324,596,868	250,390,883
Commercial Real Estate | Investment | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans		572,565
Commercial Real Estate | Hospitality
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	261,700
Total loans	98,621,565	84,662,560
Commercial Real Estate | Land and A&D
Accruing past due loans:
Total loans	51,656,124	45,046,259
Residential Real Estate
Accruing past due loans:
Total loans	224,716,760		211,006,146
Residential Real Estate | First Lien-Investment
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	324,591	423,999
Total loans	81,028,398	73,764,433
Residential Real Estate | First Lien-Investment | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	291,980	486,960
Residential Real Estate | First Lien-Owner Occupied
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	518,243	795,920
Total loans	79,292,432	83,065,128
Residential Real Estate | First Lien-Owner Occupied | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	100,031	1,423,752
Residential Real Estate | First Lien-Owner Occupied | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	214,083	305,323
Residential Real Estate | Residential Land and A&D
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:		795,300
Total loans	39,260,653	30,748,902
Residential Real Estate | Residential Land and A&D | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	1,543,947	168,875
Residential Real Estate | HELOC and Jr. Liens
Accruing past due loans:
Total loans	25,135,277	23,901,486
Residential Real Estate | HELOC and Jr. Liens | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans		87,703
Commercial
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	653,498	1,165,955
Total loans	112,532,190		107,465,474
Commercial | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	147,326	1,213,021
Commercial | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	202,528
Consumer
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:		120,641
Total loans	6,614,857	9,382,494	10,023,391
Consumer | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	0	9,308
Legacy
Aging analysis of the loan held for investment portfolio
Current	887,801,449	746,375,748
Accruing past due loans:
Total accruing past due loans	2,833,076	342,704
Total Recorded Investment Non-accruing past due loans:	772,920	3,249,545
Total loans	891,407,445	749,967,997
Legacy | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	2,630,548	342,704
Legacy | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	202,528
Legacy | Commercial Real Estate | Owner Occupied
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	14,274	1,849,685
Total loans	198,799,617	192,723,718
Legacy | Commercial Real Estate | Owner Occupied | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	1,149,985
Legacy | Commercial Real Estate | Investment
Accruing past due loans:
Total loans	289,572,119	208,766,058
Legacy | Commercial Real Estate | Hospitality
Accruing past due loans:
Total loans	90,559,043	76,342,916
Legacy | Commercial Real Estate | Land and A&D
Accruing past due loans:
Total loans	46,953,976	40,260,506
Legacy | Residential Real Estate | First Lien-Investment
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	105,148	113,264
Total loans	62,479,229	49,578,862
Legacy | Residential Real Estate | First Lien-Investment | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	291,980	297,221
Legacy | Residential Real Estate | First Lien-Owner Occupied
Accruing past due loans:
Total loans	35,977,798	31,822,773
Legacy | Residential Real Estate | Residential Land and A&D
Accruing past due loans:
Total loans	32,485,403	22,239,663
Legacy | Residential Real Estate | Residential Land and A&D | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	1,041,257
Legacy | Residential Real Estate | HELOC and Jr. Liens
Accruing past due loans:
Total loans	22,648,628	20,854,737
Legacy | Commercial
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	653,498	1,165,955
Legacy | Commercial | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	147,326	45,483
Legacy | Commercial | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans			$ 202,528
Legacy | Consumer
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:		120,641
Total loans	6,395,608	9,068,755
Legacy | Consumer | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	0
Acquired
Aging analysis of the loan held for investment portfolio
Current	150,133,152	173,731,329
Accruing past due loans:
Total accruing past due loans	816,804	3,924,803
Total Recorded Investment Non-accruing past due loans:	1,054,477	1,957,662
Total loans	152,004,433	179,613,794
Acquired | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	602,721	3,619,480
Acquired | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	214,083	305,323
Acquired | Commercial Real Estate | Owner Occupied
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	55,091	55,707
Total loans	25,873,897	27,891,137
Acquired | Commercial Real Estate | Investment
Accruing past due loans:
Total loans	35,024,749	41,624,825
Acquired | Commercial Real Estate | Investment | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans		572,565
Acquired | Commercial Real Estate | Hospitality
Accruing past due loans:
Total accruing past due loans	261,700
Total loans	8,062,522	8,319,644
Acquired | Commercial Real Estate | Land and A&D
Accruing past due loans:
Total loans	4,702,148	4,785,753
Acquired | Residential Real Estate | First Lien-Investment
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	219,443	310,735
Total loans	18,549,169	24,185,571
Acquired | Residential Real Estate | First Lien-Investment | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans		189,739
Acquired | Residential Real Estate | First Lien-Owner Occupied
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:	518,243	795,920
Total loans	43,314,634	51,242,355
Acquired | Residential Real Estate | First Lien-Owner Occupied | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	100,031	1,423,752
Acquired | Residential Real Estate | First Lien-Owner Occupied | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	214,083	305,323
Acquired | Residential Real Estate | Residential Land and A&D
Accruing past due loans:
Total Recorded Investment Non-accruing past due loans:		795,300
Total loans	6,775,250	8,509,239
Acquired | Residential Real Estate | Residential Land and A&D | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans	502,690	168,875
Acquired | Residential Real Estate | HELOC and Jr. Liens
Accruing past due loans:
Total loans	2,486,649	3,046,749
Acquired | Residential Real Estate | HELOC and Jr. Liens | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans		87,703
Acquired | Commercial | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans		1,167,538
Acquired | Consumer
Accruing past due loans:
Total loans	$ 219,249	313,739
Acquired | Consumer | Financing Receivables, 30 to 89 Days Past Due [Member]
Accruing past due loans:
Total accruing past due loans		$ 9,308

LOANS (Details 3)

LOANS (Details 3) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Unpaid Principal Balance
Total	$ 4,434,079	$ 4,434,079	$ 8,055,181
Recorded Investment
Total	4,434,079	4,434,079	7,283,210
Related Allowance
Total	309,505	309,505	235,540
Average Recorded Investment
Total	4,436,173	9,172,494	7,924,449
Interest Income Recognized
Total	27,052	94,274	153,676
Legacy
Unpaid Principal Balance
Total	2,638,288	2,638,288	5,020,847
Recorded Investment
Total	2,638,288	2,638,288	5,020,847
Related Allowance
Total	220,791	220,791	215,540
Average Recorded Investment
Total	2,634,520	5,036,627	5,000,728
Interest Income Recognized
Total	22,186	81,483	95,888
Legacy | Commercial Real Estate | Owner Occupied
Unpaid Principal Balance
With no related allowance recorded	256,025	256,025	2,113,173
With an allowance recorded	332,023	332,023
Recorded Investment
With no related allowance recorded	256,025	256,025	2,113,173
With an allowance recorded	332,023	332,023
Related Allowance
Total	206,517	206,517
Average Recorded Investment
With no related allowance recorded	256,025	259,218	2,111,733
With an allowance recorded	332,023	366,641
Interest Income Recognized
With no related allowance recorded	3,288	11,941	18,318
With an allowance recorded	4,789	17,859
Legacy | Commercial Real Estate | Investment
Unpaid Principal Balance
With no related allowance recorded	1,277,320	1,277,320	1,319,280
With an allowance recorded	14,274	14,274
Recorded Investment
With no related allowance recorded	1,277,320	1,277,320	1,319,280
With an allowance recorded	14,274	14,274
Related Allowance
Total	14,274	14,274
Average Recorded Investment
With no related allowance recorded	1,276,955	1,296,240	1,315,243
With an allowance recorded	14,895	37,783
Interest Income Recognized
With no related allowance recorded	14,109	51,683	58,664
Legacy | Residential Real Estate | First Lien-Investment
Unpaid Principal Balance
With no related allowance recorded	105,148	105,148	113,264
Recorded Investment
With no related allowance recorded	105,148	105,148	113,264
Average Recorded Investment
With no related allowance recorded	104,220	330,106	112,027
Legacy | Residential Real Estate | Commercial
Unpaid Principal Balance
With no related allowance recorded	653,498	653,498
Recorded Investment
With no related allowance recorded	653,498	653,498
Average Recorded Investment
With no related allowance recorded	650,402	2,746,639
Legacy | Commercial
Unpaid Principal Balance
With no related allowance recorded			979,039
With an allowance recorded			375,450
Recorded Investment
With no related allowance recorded			979,039
With an allowance recorded			375,450
Related Allowance
Total			159,040
Average Recorded Investment
With no related allowance recorded			975,224
With an allowance recorded			365,860
Interest Income Recognized
With no related allowance recorded			4,767
With an allowance recorded			13,101
Legacy | Consumer
Unpaid Principal Balance
With an allowance recorded			120,641
Recorded Investment
With an allowance recorded			120,641
Related Allowance
Total			56,500
Average Recorded Investment
With an allowance recorded			120,641
Interest Income Recognized
With an allowance recorded			1,038
Acquired
Unpaid Principal Balance
Total	1,795,791	1,795,791	3,034,334
Recorded Investment
Total	1,795,791	1,795,791	2,262,363
Related Allowance
Total	88,714	88,714	20,000
Average Recorded Investment
Total	1,801,653	4,135,867	2,923,721
Interest Income Recognized
Total	4,866	12,791	57,788
Acquired | Commercial Real Estate | Owner Occupied
Unpaid Principal Balance
With no related allowance recorded	48,359	48,359	48,359
Recorded Investment
With no related allowance recorded	48,359	48,359	55,706
Average Recorded Investment
With no related allowance recorded	48,359	48,359	48,359
Interest Income Recognized
With no related allowance recorded			1,742
Acquired | Commercial Real Estate | Land and A&D
Unpaid Principal Balance
With no related allowance recorded			1,309,568
With an allowance recorded			223,336
Recorded Investment
With no related allowance recorded			595,300
With an allowance recorded			200,000
Related Allowance
Total			20,000
Average Recorded Investment
With no related allowance recorded			1,201,246
With an allowance recorded			223,536
Interest Income Recognized
With no related allowance recorded			8,357
With an allowance recorded			10,529
Acquired | Residential Real Estate | Owner Occupied
Unpaid Principal Balance
With no related allowance recorded			1,058,125
Recorded Investment
With no related allowance recorded			1,016,765
Average Recorded Investment
With no related allowance recorded			1,055,774
Interest Income Recognized
With no related allowance recorded			17,782
Acquired | Residential Real Estate | Investment
Unpaid Principal Balance
With no related allowance recorded			311,089
Recorded Investment
With no related allowance recorded			310,735
Average Recorded Investment
With no related allowance recorded			311,089
Interest Income Recognized
With no related allowance recorded			14,866
Acquired | Residential Real Estate | Land and A&D
Unpaid Principal Balance
With no related allowance recorded	267,113	267,113
Recorded Investment
With no related allowance recorded	267,113	267,113
Average Recorded Investment
With no related allowance recorded	267,113	490,977
Acquired | Residential Real Estate | First Lien-Investment
Unpaid Principal Balance
With no related allowance recorded	197,449	197,449
With an allowance recorded	223,617	223,617
Recorded Investment
With no related allowance recorded	197,449	197,449
With an allowance recorded	223,617	223,617
Related Allowance
Total	88,714	88,714
Average Recorded Investment
With no related allowance recorded	196,759	1,186,738
With an allowance recorded	223,617	367,261
Acquired | Residential Real Estate | First Lien-Owner Occupied
Unpaid Principal Balance
With no related allowance recorded	978,172	978,172
Recorded Investment
With no related allowance recorded	978,172	978,172
Average Recorded Investment
With no related allowance recorded	984,724	1,959,483
Interest Income Recognized
With no related allowance recorded	3,823	9,436
Acquired | Residential Real Estate | Commercial
Unpaid Principal Balance
With no related allowance recorded	81,081	81,081
Recorded Investment
With no related allowance recorded	81,081	81,081
Average Recorded Investment
With no related allowance recorded	81,081	83,049
Interest Income Recognized
With no related allowance recorded	$ 1,043	$ 3,355
Acquired | Commercial
Unpaid Principal Balance
With no related allowance recorded			83,857
Recorded Investment
With no related allowance recorded			83,857
Average Recorded Investment
With no related allowance recorded			83,717
Interest Income Recognized
With no related allowance recorded			$ 4,512

LOANS (Details 4)

LOANS (Details 4) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)item	Sep. 30, 2015USD ($)item	Dec. 31, 2014USD ($)item
Troubled debt restructurings
Pre-Modification Outstanding Recorded Investment | $	$ 228	$ 228
Number of loans modified as TDR	0	0
Restructured loans
Troubled debt restructurings
Number of Contracts		3	4
Pre-Modification Outstanding Recorded Investment | $		$ 530	$ 589

LOANS (Details 5)

LOANS (Details 5) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Accretable Yield
Contractually Required Payments Receivable	$ 8,967,694	$ 10,696,265	$ 10,658,840	$ 12,482,792
Carrying Amount	7,183,708	7,959,640	$ 7,994,604	$ 8,742,777
Change in allowance for loan losses for General Reserves due to exceeding of credit mark	0
Change in allowance for loan losses due to exceeding of credit mark for estimate of loss exposure	0
Acquired
Accretable Yield
Beginning balance	(31,551)	40,771
Accretion of fair value discounts	(62,154)	(845,170)
Reclassification from non-accretable	66,020	771,547
Ending balance	$ (27,685)	$ (32,852)

LOANS (Details 6)

LOANS (Details 6) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Credit quality indicators
Account balance	$ 1,043,411,878	$ 929,581,791	$ 886,738,684
Commercial Real Estate
Credit quality indicators
Account balance	699,548,071		558,516,970
Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	224,673,514	220,614,855
Commercial Real Estate | Investment
Credit quality indicators
Account balance	324,596,868	250,390,883
Commercial Real Estate | Hospitality
Credit quality indicators
Account balance	98,621,565	84,662,560
Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	51,656,124	45,046,259
Residential Real Estate
Credit quality indicators
Account balance	224,716,760		211,006,146
Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	81,028,398	73,764,433
Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	79,292,432	83,065,128
Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	39,260,653	30,748,902
Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	25,135,277	23,901,486
Commercial
Credit quality indicators
Account balance	112,532,190		107,465,474
Consumer
Credit quality indicators
Account balance	$ 6,614,857	9,382,494	$ 10,023,391
Installment and other consumer loans and real estate loans
Credit quality indicators
Loss ratio period considered	3 years
Risk rated 1 - 5 at acquisition
Credit quality indicators
Account balance	$ 1,019,822,303	898,270,756
Risk rated 1 - 5 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	220,643,564	214,176,387
Risk rated 1 - 5 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	320,459,436	245,419,025
Risk rated 1 - 5 at acquisition | Commercial Real Estate | Hospitality
Credit quality indicators
Account balance	98,621,566	84,662,560
Risk rated 1 - 5 at acquisition | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	48,639,782	41,647,168
Risk rated 1 - 5 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	78,499,985	71,009,258
Risk rated 1 - 5 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	76,056,203	79,212,507
Risk rated 1 - 5 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	36,055,127	26,998,064
Risk rated 1 - 5 at acquisition | Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	23,818,047	23,894,320
Risk rated 1 - 5 at acquisition | Commercial
Credit quality indicators
Account balance	5,841,263	101,665,637
Risk rated 1 - 5 at acquisition | Consumer
Credit quality indicators
Account balance	111,187,329	9,585,830
Risk rated 6 at acquisition
Credit quality indicators
Account balance	14,400,316	19,454,033
Risk rated 6 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	2,275,740	2,801,467
Risk rated 6 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	1,687,057	2,578,560
Risk rated 6 at acquisition | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	3,016,341	3,399,091
Risk rated 6 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	1,514,142	1,851,881
Risk rated 6 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	2,119,917	2,449,773
Risk rated 6 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	2,293,279	2,347,890
Risk rated 6 at acquisition | Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	6,352	7,166
Risk rated 6 at acquisition | Commercial
Credit quality indicators
Account balance	1,487,488	4,018,205
Risk rated 7 at acquisition
Credit quality indicators
Account balance	9,189,259	11,857,002
Risk rated 7 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	1,754,210	3,637,001
Risk rated 7 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	2,450,375	2,069,322
Risk rated 7 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	1,014,270	903,294
Risk rated 7 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	1,116,312	1,402,848
Risk rated 7 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	912,247	1,402,947
Risk rated 7 at acquisition | Commercial
Credit quality indicators
Account balance	1,941,845	2,320,949
Risk rated 7 at acquisition | Consumer
Credit quality indicators
Account balance		120,641
Legacy
Credit quality indicators
Account balance	891,407,445	749,967,997
Legacy | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	198,799,617	192,723,718
Legacy | Commercial Real Estate | Investment
Credit quality indicators
Account balance	289,572,119	208,766,058
Legacy | Commercial Real Estate | Hospitality
Credit quality indicators
Account balance	90,559,043	76,342,916
Legacy | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	46,953,976	40,260,506
Legacy | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	62,479,229	49,578,862
Legacy | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	35,977,798	31,822,773
Legacy | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	32,485,403	22,239,663
Legacy | Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	22,648,628	20,854,737
Legacy | Consumer
Credit quality indicators
Account balance	6,395,608	9,068,755
Legacy | Risk rated 1 - 5 at acquisition
Credit quality indicators
Account balance	879,273,335	733,868,509
Legacy | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	197,325,974	189,360,330
Legacy | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	286,844,139	205,395,067
Legacy | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Hospitality
Credit quality indicators
Account balance	90,559,043	76,342,916
Legacy | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	44,271,973	37,227,339
Legacy | Risk rated 1 - 5 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	61,206,394	48,263,092
Legacy | Risk rated 1 - 5 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	35,898,729	31,740,158
Legacy | Risk rated 1 - 5 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	30,867,605	20,601,936
Legacy | Risk rated 1 - 5 at acquisition | Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	21,331,398	20,847,571
Legacy | Risk rated 1 - 5 at acquisition | Commercial
Credit quality indicators
Account balance		94,818,009
Legacy | Risk rated 1 - 5 at acquisition | Consumer
Credit quality indicators
Account balance	110,968,080	9,272,091
Legacy | Risk rated 6 at acquisition
Credit quality indicators
Account balance	7,930,018	10,199,147
Legacy | Risk rated 6 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	349,523	357,092
Legacy | Risk rated 6 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	1,029,530	1,731,771
Legacy | Risk rated 6 at acquisition | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	2,682,003	3,033,167
Legacy | Risk rated 6 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	876,834	1,202,506
Legacy | Risk rated 6 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	79,069	82,616
Legacy | Risk rated 6 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	1,617,798	1,637,727
Legacy | Risk rated 6 at acquisition | Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	6,352	7,166
Legacy | Risk rated 6 at acquisition | Commercial
Credit quality indicators
Account balance	1,288,910	2,147,102
Legacy | Risk rated 7 at acquisition
Credit quality indicators
Account balance	4,204,092	5,900,341
Legacy | Risk rated 7 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	1,124,119	3,006,294
Legacy | Risk rated 7 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	1,698,450	1,315,243
Legacy | Risk rated 7 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	396,001	113,264
Legacy | Risk rated 7 at acquisition | Commercial
Credit quality indicators
Account balance	985,522	1,344,899
Legacy | Risk rated 7 at acquisition | Consumer
Credit quality indicators
Account balance		120,641
Acquired
Credit quality indicators
Account balance	152,004,433	179,613,794
Acquired | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	25,873,897	27,891,137
Acquired | Commercial Real Estate | Investment
Credit quality indicators
Account balance	35,024,749	41,624,825
Acquired | Commercial Real Estate | Hospitality
Credit quality indicators
Account balance	8,062,522	8,319,644
Acquired | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	4,702,148	4,785,753
Acquired | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	18,549,169	24,185,571
Acquired | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	43,314,634	51,242,355
Acquired | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	6,775,250	8,509,239
Acquired | Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	2,486,649	3,046,749
Acquired | Consumer
Credit quality indicators
Account balance	219,249	313,739
Acquired | Risk rated 1 - 5 at acquisition
Credit quality indicators
Account balance	140,548,967	164,402,247
Acquired | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	23,317,589	24,816,057
Acquired | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	33,615,297	40,023,958
Acquired | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Hospitality
Credit quality indicators
Account balance	8,062,522	8,319,644
Acquired | Risk rated 1 - 5 at acquisition | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	4,367,809	4,419,829
Acquired | Risk rated 1 - 5 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	17,293,591	22,746,166
Acquired | Risk rated 1 - 5 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	40,157,475	47,472,349
Acquired | Risk rated 1 - 5 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	5,187,521	6,396,128
Acquired | Risk rated 1 - 5 at acquisition | Residential Real Estate | HELOC and Jr. Liens
Credit quality indicators
Account balance	2,486,649	3,046,749
Acquired | Risk rated 1 - 5 at acquisition | Commercial
Credit quality indicators
Account balance	5,841,263	6,847,628
Acquired | Risk rated 1 - 5 at acquisition | Consumer
Credit quality indicators
Account balance	219,249	313,739
Acquired | Risk rated 6 at acquisition
Credit quality indicators
Account balance	6,470,298	9,254,886
Acquired | Risk rated 6 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	1,926,217	2,444,375
Acquired | Risk rated 6 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	657,527	846,789
Acquired | Risk rated 6 at acquisition | Commercial Real Estate | Land and A&D
Credit quality indicators
Account balance	334,338	365,924
Acquired | Risk rated 6 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	637,308	649,375
Acquired | Risk rated 6 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	2,040,848	2,367,157
Acquired | Risk rated 6 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	675,482	710,163
Acquired | Risk rated 6 at acquisition | Commercial
Credit quality indicators
Account balance	198,578	1,871,103
Acquired | Risk rated 7 at acquisition
Credit quality indicators
Account balance	4,985,168	5,956,661
Acquired | Risk rated 7 at acquisition | Commercial Real Estate | Owner Occupied
Credit quality indicators
Account balance	630,091	630,707
Acquired | Risk rated 7 at acquisition | Commercial Real Estate | Investment
Credit quality indicators
Account balance	751,925	754,079
Acquired | Risk rated 7 at acquisition | Residential Real Estate | First Lien-Investment
Credit quality indicators
Account balance	618,269	790,030
Acquired | Risk rated 7 at acquisition | Residential Real Estate | First Lien-Owner Occupied
Credit quality indicators
Account balance	1,116,312	1,402,848
Acquired | Risk rated 7 at acquisition | Residential Real Estate | Residential Land and A&D
Credit quality indicators
Account balance	912,247	1,402,947
Acquired | Risk rated 7 at acquisition | Commercial
Credit quality indicators
Account balance	$ 956,324	$ 976,050

LOANS (Details 7)

LOANS (Details 7) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014
Activity in the allowance for loan losses
Beginning balance			$ 4,281,835	$ 4,929,213
General provision for loan losses	$ 263,595	$ 597,873	910,984	2,391,052
Provision (credit ) for loan losses for loans acquired with deteriorated credit quality		(42,739)		(21,869)
Recoveries	49,289	15,821	153,997	65,341
Allowance for loan losses before charge offs	4,748,796	6,895,538	5,346,816	7,363,737
Loans charged off	(295,082)	(3,023,341)	(893,102)	(3,491,540)
Ending Balance	4,453,714	3,872,197	4,453,714	3,872,197
Amount allocated to:
Ending balance	4,453,714	3,872,197	4,281,835	4,929,213	$ 4,453,714	$ 4,435,912	$ 3,872,197	$ 6,324,583
Legacy
Activity in the allowance for loan losses
Beginning balance			4,261,835
Ending Balance	4,365,000		4,365,000
Amount allocated to:
Individually evaluated for impairment					220,791		189,675
Other loans not individually evaluated					4,144,209		3,682,522
Ending balance	4,365,000		4,261,835		4,365,000
Acquired
Activity in the allowance for loan losses
Beginning balance			20,000
Ending Balance	88,714		88,714
Amount allocated to:
Individually evaluated for impairment					88,714
Ending balance	88,714		20,000		88,714
Commercial
Activity in the allowance for loan losses
Beginning balance			696,371	495,051
General provision for loan losses	102,642	(91,327)	474,753	85,285
Recoveries	600	1,524	2,142	6,236
Allowance for loan losses before charge offs	976,290	584,572	1,173,266	586,572
Loans charged off	(29,743)		(226,719)	(2,000)
Ending Balance	946,547	584,572	946,547	584,572
Amount allocated to:
Ending balance	946,547	584,572	696,371	495,051	946,547	873,048	584,572	674,375
Commercial | Legacy
Amount allocated to:
Individually evaluated for impairment					206,517		159,515
Other loans not individually evaluated					740,030		425,057
Commercial Real Estate
Activity in the allowance for loan losses
Beginning balance			2,558,368	3,569,395
General provision for loan losses	96,069	17,763	313,335	1,306,924
Provision (credit ) for loan losses for loans acquired with deteriorated credit quality		(42,739)		(40,123)
Recoveries		21	20	81
Allowance for loan losses before charge offs	2,871,723	4,836,277	2,871,723	4,836,277
Loans charged off		(2,680,026)		(2,680,026)
Ending Balance	2,871,723	2,156,251	2,871,723	2,156,251
Amount allocated to:
Ending balance	2,871,723	2,156,251	2,558,368	3,569,395	2,871,723	2,775,654	2,156,251	4,861,232
Commercial Real Estate | Legacy
Amount allocated to:
Individually evaluated for impairment					14,274
Other loans not individually evaluated					2,857,449		2,156,251
Residential Real Estate
Activity in the allowance for loan losses
Beginning balance			926,995	841,234
General provision for loan losses	70,467	678,085	241,507	935,162
Provision (credit ) for loan losses for loans acquired with deteriorated credit quality				18,254
Recoveries	41,446	7,161	96,531	43,431
Allowance for loan losses before charge offs	868,033	1,406,434	1,265,033	1,838,081
Loans charged off	(265,339)	(322,682)	(662,339)	(754,329)
Ending Balance	602,694	1,083,752	602,694	1,083,752
Amount allocated to:
Ending balance	602,694	1,083,752	926,995	841,234	602,694	756,120	1,083,752	721,188
Residential Real Estate | Legacy
Amount allocated to:
Other loans not individually evaluated					513,980		1,083,752
Residential Real Estate | Acquired
Amount allocated to:
Individually evaluated for impairment					88,714
Consumer
Activity in the allowance for loan losses
Beginning balance			100,101	23,533
General provision for loan losses	(5,583)	(6,648)	(118,611)	63,681
Recoveries	7,243	7,115	55,304	15,593
Allowance for loan losses before charge offs	32,750	68,255	36,794	102,807
Loans charged off		(20,633)	(4,044)	(55,185)
Ending Balance	32,750	47,622	32,750	47,622
Amount allocated to:
Ending balance	$ 32,750	$ 47,622	$ 100,101	$ 23,533	32,750	$ 31,090	47,622	$ 67,788
Consumer | Legacy
Amount allocated to:
Individually evaluated for impairment							30,160
Other loans not individually evaluated					$ 32,750		$ 17,462

LOANS (Details 8)

LOANS (Details 8) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)			$ 1,883,828
Collectively evaluated for impairment without reserve			185,021,822
Ending balance	$ 1,043,411,878	$ 929,581,791	886,738,684
Commercial
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)			84,145
Collectively evaluated for impairment without reserve			8,965,882
Ending balance	112,532,190		107,465,474
Commercial Real Estate
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)	48,359		55,912
Collectively evaluated for impairment without reserve			84,155,740
Ending balance	699,548,071		558,516,970
Residential Real Estate
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)			1,743,771
Collectively evaluated for impairment without reserve			91,517,013
Ending balance	224,716,760		211,006,146
Consumer
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Collectively evaluated for impairment without reserve			383,187
Ending balance	6,614,857	9,382,494	10,023,391
Legacy
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment with specific reserve	346,297		500,836
Individually evaluated for impairment without specific reserve	2,291,991		4,273,700
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)	1,572,174
Other loans not individually evaluated	888,769,157		695,058,498
Ending balance	891,407,445	749,967,997
Legacy | Commercial
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment with specific reserve	332,023		380,195
Individually evaluated for impairment without specific reserve	653,498		990,649
Other loans not individually evaluated	104,550,503		97,044,603
Legacy | Commercial Real Estate
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment with specific reserve	14,274
Individually evaluated for impairment without specific reserve	1,533,345		3,441,281
Other loans not individually evaluated	624,337,136		470,864,037
Legacy | Residential Real Estate
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve	105,148		115,067
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition)	1,442,734
Other loans not individually evaluated	153,485,910		117,630,295
Legacy | Consumer
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment with specific reserve			120,641
Other loans not individually evaluated	6,395,608		$ 9,519,563
Ending balance	6,395,608	9,068,755
Acquired
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)	223,617
Collectively evaluated for impairment without reserve	150,208,642
Ending balance	152,004,433	179,613,794
Acquired | Commercial
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)	81,081
Collectively evaluated for impairment without reserve	6,915,085
Acquired | Commercial Real Estate
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Collectively evaluated for impairment without reserve	73,614,957
Acquired | Residential Real Estate
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition)	223,617
Collectively evaluated for impairment without reserve	69,459,351
Acquired | Consumer
Recorded investment in loans related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of impairment methodology
Collectively evaluated for impairment without reserve	219,249
Ending balance	$ 219,249	$ 313,739

OTHER REAL ESTATE OWNED (Detail

OTHER REAL ESTATE OWNED (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Other real estate owned
Number of components in which the other real estate owned were segmented | item			2
Transactions in other real estate owned during the period
Beginning balance			$ 2,451,920
Real estate acquired through foreclosure of loans			820,725	$ 1,421,365
Additional write down of real estate owned			(145,165)
Sales/deposit on sales			(1,149,640)
Net realized gain (loss) on sale of real estate owned	$ (114,709)	$ (260,533)	29,214	$ (542,728)
Total end of period	1,948,625		1,948,625
Residential foreclosures classified as other real estate	961,000		961,000
Loans secured by residential real estate in process of foreclosure	518,000,000		518,000,000		$ 2,500,000
Legacy
Transactions in other real estate owned during the period
Beginning balance			475,291
Additional write down of real estate owned			(50,290)
Total end of period	425,000		425,000
Acquired
Transactions in other real estate owned during the period
Beginning balance			1,976,629
Real estate acquired through foreclosure of loans			820,725
Additional write down of real estate owned			(94,875)
Sales/deposit on sales			(1,149,640)
Net realized gain (loss) on sale of real estate owned			29,214
Total end of period	$ 1,523,625		$ 1,523,625

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
EARNINGS PER COMMON SHARE
Weighted average number of shares	10,544,357	10,785,881	10,655,375	10,783,818
Dilutive average number of shares	10,685,306	10,921,555	10,792,821	10,937,720

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stock based compensation
Stock-based compensation expense	$ 118,176	$ 118,176	$ 71,280	$ 300,243	$ 269,362
Unrecognized compensation cost related to non-vested stock options	$ 721,921			$ 721,921
Period over which unrecognized compensation cost is expected to be realized				2 years 6 months
Shares available for future issuance	393,869			393,869
Stock options
Stock based compensation
Options granted (in shares)	50,597		50,759
Options granted (in dollars per share)				$ 5.09
Options exercised by directors and officers (in shares)				32,000
Restricted stock
Stock based compensation
Restricted stock granted (in shares)	30,726				8,257
Restricted stock granted (in dollars per share)				$ 15.31
Restricted stock forfeited (in shares)				0	0

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015	Dec. 31, 2014
Assets and liabilities measured at fair value
Fair Value Assets transfers amount	$ 0			$ 0
Gain (loss) on disposal of assets	19,975	$ 17,919
Available-for-sale	151,522,391			161,680,198
U. S. treasury
Assets and liabilities measured at fair value
Available-for-sale	3,003,281			3,006,150
U.S. government agency
Assets and liabilities measured at fair value
Available-for-sale	36,942,232			37,656,332
Municipal securities
Assets and liabilities measured at fair value
Available-for-sale	39,090,466			43,546,161
FHLMC certificates
Assets and liabilities measured at fair value
Available-for-sale	19,602,723			20,470,947
FNMA certificates
Assets and liabilities measured at fair value
Available-for-sale	18,606,731			17,866,806
GNMA certificates
Assets and liabilities measured at fair value
Available-for-sale	29,521,449			33,139,345
SBA loan pools
Assets and liabilities measured at fair value
Available-for-sale	4,755,509			5,994,457
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets and liabilities measured at fair value
Available-for-sale			$ 3,003,000	3,006,000
Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value
Available-for-sale	148,519,000			158,674,000
Carrying Value
Assets and liabilities measured at fair value
Available-for-sale	151,522,000			161,680,000
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets and liabilities measured at fair value
Assets	3,003,000			3,006,000
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U. S. treasury
Assets and liabilities measured at fair value
Available-for-sale	3,003,000			3,006,000
Recurring basis | Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value
Assets	148,519,000			158,674,000
Recurring basis | Other Observable Inputs (Level 2) | U.S. government agency
Assets and liabilities measured at fair value
Available-for-sale	36,942,000			37,656,000
Recurring basis | Other Observable Inputs (Level 2) | Municipal securities
Assets and liabilities measured at fair value
Available-for-sale	39,090,000			43,546,000
Recurring basis | Other Observable Inputs (Level 2) | FHLMC certificates
Assets and liabilities measured at fair value
Available-for-sale	19,603,000			20,471,000
Recurring basis | Other Observable Inputs (Level 2) | FNMA certificates
Assets and liabilities measured at fair value
Available-for-sale	18,607,000			17,867,000
Recurring basis | Other Observable Inputs (Level 2) | GNMA certificates
Assets and liabilities measured at fair value
Available-for-sale	29,521,000			33,139,000
Recurring basis | Other Observable Inputs (Level 2) | SBA loan pools
Assets and liabilities measured at fair value
Available-for-sale	4,756,000			5,995,000
Recurring basis | Carrying Value
Assets and liabilities measured at fair value
Assets	151,522,000			161,680,000
Recurring basis | Carrying Value | U. S. treasury
Assets and liabilities measured at fair value
Available-for-sale	3,003,000			3,006,000
Recurring basis | Carrying Value | U.S. government agency
Assets and liabilities measured at fair value
Available-for-sale	36,942,000			37,656,000
Recurring basis | Carrying Value | Municipal securities
Assets and liabilities measured at fair value
Available-for-sale	39,090,000			43,546,000
Recurring basis | Carrying Value | FHLMC certificates
Assets and liabilities measured at fair value
Available-for-sale	19,603,000			20,471,000
Recurring basis | Carrying Value | FNMA certificates
Assets and liabilities measured at fair value
Available-for-sale	18,607,000			17,867,000
Recurring basis | Carrying Value | GNMA certificates
Assets and liabilities measured at fair value
Available-for-sale	29,521,000			33,139,000
Recurring basis | Carrying Value | SBA loan pools
Assets and liabilities measured at fair value
Available-for-sale	$ 4,756,000			$ 5,995,000

FAIR VALUE MEASUREMENT (Detai43

FAIR VALUE MEASUREMENT (Details 2)	9 Months Ended
	Sep. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
Assets and liabilities measured at fair value
Impaired Loans	$ 4,434,079	$ 7,283,210
Additional disclosures
Number of components in which the other real estate owned were segmented | item	2
Legacy
Assets and liabilities measured at fair value
Impaired Loans	$ 2,638,288	5,020,847
Acquired
Assets and liabilities measured at fair value
Impaired Loans	$ 1,795,791	2,262,363
Significant Unobservable Inputs (Level 3) | Minimum
Additional disclosures
Discounts (as a percent)	0.00%
Significant Unobservable Inputs (Level 3) | Maximum
Additional disclosures
Discounts (as a percent)	50.00%
Nonrecurring basis | Significant Unobservable Inputs (Level 3)
Assets and liabilities measured at fair value
Impaired Loans	$ 4,124,000	7,047,000
Other real estate owned	1,949,000	2,452,000
Assets	6,073,000	9,499,000
Nonrecurring basis | Significant Unobservable Inputs (Level 3) | Legacy
Assets and liabilities measured at fair value
Impaired Loans	2,417,000	4,805,000
Other real estate owned	425,000	475,000
Nonrecurring basis | Significant Unobservable Inputs (Level 3) | Acquired
Assets and liabilities measured at fair value
Impaired Loans	1,707,000	2,242,000
Other real estate owned	1,524,000	1,977,000
Nonrecurring basis | Carrying Value
Assets and liabilities measured at fair value
Impaired Loans	4,124,000	7,047,000
Other real estate owned	1,949,000	2,452,000
Assets	6,073,000	9,499,000
Nonrecurring basis | Carrying Value | Legacy
Assets and liabilities measured at fair value
Impaired Loans	2,417,000	4,805,000
Other real estate owned	425,000	475,000
Nonrecurring basis | Carrying Value | Acquired
Assets and liabilities measured at fair value
Impaired Loans	1,707,000	2,242,000
Other real estate owned	$ 1,524,000	$ 1,977,000

FAIR VALUE MEASUREMENT (Detai44

FAIR VALUE MEASUREMENT (Details 3) - USD ($)	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Assets:
Loans held-for-sale	$ 5,445,074		$ 4,753,995
Investment securities available for sale	151,522,391		161,680,198
Bank Owned Life Insurance	32,071,875		31,429,747
Accrued interest receivable	3,223,748		3,218,428
Liabilities:
Non-interest bearing	279,339,255		260,913,521
Interest bearing	811,186,492		754,825,885
Accrued interest payable	357,691		266,023
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash and cash equivalents		$ 30,617,000	25,405,000
Investment securities available for sale		3,003,000	3,006,000
Other Observable Inputs (Level 2)
Assets:
Loans held-for-sale	5,445,000		4,754,000
Investment securities available for sale	148,519,000		158,674,000
Equity securities at cost	3,672,000		5,812,000
Bank Owned Life Insurance	32,072,000		31,431,000
Accrued interest receivable	660,000		883,000
Liabilities:
Non-interest bearing	279,339,000		260,914,000
Interest bearing	814,237,000		760,503,000
Short term borrowings	85,696,000		61,003,000
Long term borrowings	5,904,000		5,987,000
Accrued interest payable	358,000		266,000
Significant Unobservable Inputs (Level 3)
Assets:
Loans receivable, net		1,046,511,000	935,397,000
Accrued interest receivable		$ 2,564,000	2,335,000
Carrying Value
Assets:
Cash and cash equivalents	30,617,000		25,405,000
Loans receivable, net	1,040,228,000		926,573,000
Loans held-for-sale	5,264,000		4,548,000
Investment securities available for sale	151,522,000		161,680,000
Equity securities at cost	3,672,000		5,812,000
Bank Owned Life Insurance	32,072,000		31,430,000
Accrued interest receivable	3,224,000		3,218,000
Liabilities:
Non-interest bearing	279,339,000		260,914,000
Interest bearing	811,186,000		754,826,000
Short term borrowings	85,696,000		61,003,000
Long term borrowings	5,904,000		5,987,000
Accrued interest payable	358,000		266,000
Total Estimated Fair Value
Assets:
Cash and cash equivalents	30,617,000		25,405,000
Loans receivable, net	1,046,511,000		935,397,000
Loans held-for-sale	5,445,000		4,754,000
Investment securities available for sale	151,522,000		161,680,000
Equity securities at cost	3,672,000		5,812,000
Bank Owned Life Insurance	32,072,000		31,430,000
Accrued interest receivable	3,224,000		3,218,000
Liabilities:
Non-interest bearing	279,339,000		260,914,000
Interest bearing	814,237,000		760,503,000
Short term borrowings	85,696,000		61,003,000
Long term borrowings	5,904,000		5,987,000
Accrued interest payable	$ 358,000		$ 266,000

Short Term Borrowings (Details)

Short Term Borrowings (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Short term borrowings
Short-term Debt	$ 85,695,507	$ 61,002,889
Repurchase agreements
Short term borrowings
Maximum borrowing capacity	33,200,000
Value of collateral provided	$ 40,800,000

REGAL Acquisition (Details)

REGAL Acquisition (Details) - USD ($)	Aug. 05, 2015	Sep. 30, 2015	Dec. 31, 2014
REGAL Acquisition
Assets		$ 1,331,378,353	$ 1,227,519,004
Regal Acquisition [Member]
REGAL Acquisition
Total assets acquired	$ 133,000,000
Assets	$ 1,500,000,000
Regal Acquisition [Member] | Preferred Stock [Member]
REGAL Acquisition
Purchase price per REGAL share (in dollar per share)	$ 2
Cash consideration	$ 1,000,000
Regal Acquisition [Member] | Common Stock [Member]
REGAL Acquisition
Exchange ratio	0.7718
Purchase price per REGAL share (in dollar per share)	$ 12.68
Cash consideration	$ 5,600,000
Percentage of shares exchanged	50.00%