Glen Burnie Bancorp (GLBZ) 10-K 26 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 21, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	GLEN BURNIE BANCORP
Entity Well-Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Central Index Key	0000890066
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Entity Common Stock Shares Outstanding		2,845,103
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Entity Interactive Data Current	Yes
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Public Float			$ 19,147,937

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks	$ 2,117	$ 2,420
Interest-bearing deposits in other financial institutions	34,976	10,870
Cash and Cash Equivalents	37,093	13,290
Investment securities available for sale, at fair value	114,049	71,486
Restricted equity securities, at cost	1,199	1,437
Loans, net of deferred fees and costs	253,772	284,738
Less: Allowance for loan losses	(1,476)	(2,066)
Loans, net	252,296	282,672
Real estate acquired through foreclosure	575	705
Premises and equipment, net	3,853	3,761
Bank owned life insurance	8,181	8,023
Deferred tax assets, net	142	672
Accrued interest receivable	1,302	961
Accrued taxes receivable	116	1,221
Prepaid expenses	318	406
Other assets	362	308
Total Assets	419,486	384,942
LIABILITIES
Noninterest-bearing deposits	132,626	107,158
Interest-bearing deposits	216,994	214,282
Total Deposits	349,620	321,440
Short-term borrowings	29,912	25,000
Defined pension liability	285	317
Accrued expenses and other liabilities	2,576	2,505
Total Liabilities	382,393	349,262
STOCKHOLDERS' EQUITY
Common stock, par value $1, authorized 15,000,000 shares, issued and outstanding 2,842,040 and 2,827,473 shares as of December 31, 2020 and December 31, 2019, respectively.	2,842	2,827
Additional paid-in capital	10,640	10,525
Retained earnings	23,071	22,537
Accumulated other comprehensive gain (loss)	540	(209)
Total Stockholders' Equity	37,093	35,680
Total Liabilities and Stockholders' Equity	$ 419,486	$ 384,942

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	2,842,040	2,827,473
Common stock, shares outstanding	2,842,040	2,827,473

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
INTEREST INCOME
Interest and fees on loans	$ 11,973	$ 12,747
Interest and dividends on securities	1,579	1,429
Interest on deposits with banks and federal funds sold	117	338
Total Interest Income	13,669	14,514
INTEREST EXPENSE
Interest on deposits	1,043	1,349
Interest on short-term borrowings	464	578
Interest on long-term borrowings	8
Total Interest Expense	1,515	1,927
Net Interest Income	12,154	12,587
Provision for loan losses	(689)	(115)
Net interest income after provision for loan losses	12,843	12,702
NONINTEREST INCOME
Gain on securities called or sold	6	3
Income on life insurance	158	163
Total Noninterest Income	1,012	1,295
NONINTEREST EXPENSE
Salary and benefits	6,743	6,826
Occupancy and equipment expenses	1,247	1,429
Legal, accounting and other professional fees	941	1,056
Data processing and item processing services	944	531
FDIC insurance costs	186	131
Advertising and marketing related expenses	88	107
Loan collection costs	126	107
Telephone costs	199	244
Other expenses	1,222	1,515
Total Noninterest Expenses	11,696	11,946
Income before income taxes	2,159	2,051
Income tax expense	491	452
NET INCOME	$ 1,668	$ 1,599
Basic and diluted net income per share of common stock	$ 0.59	$ 0.57
Service charges on deposit accounts
NONINTEREST INCOME
Noninterest Income	$ 176	$ 255
Other fees and commissions
NONINTEREST INCOME
Noninterest Income	$ 672	$ 874

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)
Net income	$ 1,668	$ 1,599
Net unrealized (loss) gain on securities available for sale:
Net unrealized gain on securities during the period	1,646	2,040
Income tax expense relating to item above	(452)	(560)
Reclassification adjustment for gain on sales of securities included in net income	(3)	(2)
Net effect on other comprehensive income	1,191	1,478
Net unrealized gain (loss) on interest rate swap:
Net unrealized loss on interest rate swap during the period	611	631
Income tax benefit relating to item above	169	174
Net effect on other comprehensive income (loss)	(442)	(457)
Other comprehensive income	749	1,021
Comprehensive income	$ 2,417	$ 2,620

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Gain	Total
Balances at Dec. 31, 2018	$ 2,814	$ 10,401	$ 22,066	$ (1,230)	$ 34,051
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			1,599		1,599
Cash dividends, $0.40 per share			(1,128)		(1,128)
Dividends reinvested under dividend reinvestment plan	13	124			137
Other comprehensive income				1,021	1,021
Balances at Dec. 31, 2019	2,827	10,525	22,537	(209)	35,680
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			1,668		1,668
Cash dividends, $0.40 per share			(1,134)		(1,134)
Dividends reinvested under dividend reinvestment plan	15	115			130
Other comprehensive income				749	749
Balances at Dec. 31, 2020	$ 2,842	$ 10,640	$ 23,071	$ 540	$ 37,093

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
Cash dividends, per share	$ 0.40	$ 0.40

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 1,668	$ 1,599
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and accretion of premises and equipment	59	932
Provision for loan losses	(689)	(115)
Deferred income taxes, net	245	333
Increase in cash surrender value of bank owned life insurance	(158)	(163)
Loss on writedown other real estate owned	(130)
Loss on write-down of MFB stock		2
Net (increase) decrease in other assets	798	206
Net (increase) decrease in accrued expenses and other liabilities	(451)	198
Net cash provided by operating activities	1,602	2,992
Cash flows from investing activities:
Redemptions and maturities of investment securities available for sale	26,323	32,584
Purchases of investment securities available for sale	(66,941)	(20,962)
Net redemption of Federal Home Loan Bank stock	238	1,041
Net decrease in loans	31,065	14,021
Purchases of premises and equipment	(573)	(336)
Net cash (used in) provided by investing activities	(9,888)	26,348
Cash flows from financing activities:
Net increase (decrease) in deposits	28,180	(1,013)
Increase (decrease) in short term borrowings	4,913	(30,000)
Cash dividends paid	(1,134)	(1,128)
Common stock dividends reinvested	130	137
Net cash provided by (used in) financing activities	32,089	(32,004)
Net increase (decrease) in cash and cash equivalents	23,803	(2,664)
Cash and cash equivalents at beginning of year	13,290	15,954
Cash and cash equivalents at end of year	37,093	13,290
Supplemental Disclosures of Cash Flow Information:
Interest paid on deposits and borrowings	1,599	1,979
Income taxes paid		160
Income taxes (refunded)	(856)
Net decrease in unrealized depreciation on available for sale securities	(1,646)	(2,040)
Increase in unrealized depreciation on Swaps	$ (611)	$ (631)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 1. Summary of Significant Accounting Policies Nature of Business Glen Burnie Bancorp (the “Company”) is a bank holding company organized in 1990 under the laws of the State of Maryland. The Company owns all outstanding shares of capital stock of The Bank of Glen Burnie (the “Bank”), a commercial bank organized in 1949 under the laws of the State of Maryland (the “State”). The Bank provides financial services to individuals and corporate customers located in Anne Arundel County and surrounding areas of Central Maryland, and is subject to competition from other financial institutions. The Bank is also subject to the regulations of certain Federal and State agencies and undergoes periodic examinations by those regulatory authorities. The accounting and financial reporting policies of the Bank conform, in all material respects, to accounting principles generally accepted in the United States (“U.S. GAAP”) and to general practices within the banking industry. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. The COVID-19 pandemic has negatively impacted the global economy and the markets in which the Company operates. The extent of the impact of the COVID-19 pandemic on our operational and financial performance will depend on future country and state restrictions regarding virus containment. An extended period of global supply chain, workforce availability and economic disruption could materially affect the Company’s business, the results of operations, and financial condition. While this business disruption is expected to be temporary, the current circumstances change from one day to the next and the impacts of COVID-19 on the Company’s business operations, including the duration, its impact on assets, liabilities and net income, cannot be reasonably estimated at this time. During the second quarter of 2020, at the request of borrowers facing financial difficulties, the Bank modified and deferred payment on 225 loans totaling approximately $39.8 million in principal and approximately $598,800 in principal and interest payments. As of September 30, 2020, all deferred payment loans are again paying as agreed. In October 2020, the Company began processing payments for loans that have been forgiven under SBA guidelines. The COVID-19 pandemic had a negative material impact on the Company’s business, results of operations, financial position and cash flows in the fourth quarter of 2020, and this impact may continue into 2021 and beyond. The Company has business continuity plans that cover a variety of potential impacts to business operations. These plans are periodically reviewed and tested and have been designed to protect the ongoing viability of bank operations in the event of a disruption such as a pandemic. In the beginning of March 2020, the Bank began implementing social distancing protocols. Following recommendations from the Centers for Disease Control and Prevention and the State of Maryland, the Company implemented enhanced cleaning of bank facilities and provided guidance to employees and customers on best practices to minimize the spread of the virus. At that time the Company modified delivery channels with a shift to drive thru only service at the banking offices, supplemented by appointments for service in the office lobbies. The Company also encouraged the use of online and mobile channels. Approximately 30% of employees began working remotely from home as the Company has enhanced its remote work capabilities by providing additional laptops and various audio and video meeting technologies Those employees that still report to their respective offices and branches have been assigned work spaces that align with the six feet social distancing guidance, and are required to wear protective face masks. The Bank installed plexiglass shields at all teller stations with a standard pass-through for documents, marked floors to ensure proper social distancing, and set procedures for identifying customers before entering a branch. The Bank also limited the number of customers at a time allowed in a branch, established cleaning procedures for open branches, and required 100% mask use by customers and employees. The Bank re-opened all branches on July 1, 2020 for regular customer use with these modifications and procedures in place. In response to the November and December 2020 holiday-driven resurgence of COVID-19 cases, all branch lobbies were closed on December 5, 2020. The Bank has been operating drive thru window services only at all locations since then. On December 26, 2020, the Glen Burnie and Riviera Beach branch locations closed their drive thru window sevices after employees from these locations tested positive for the virus. The employees from these branches were quarantined at that time. The branches were cleaned and disinfected on December 26 and 27, 2020 and remained vacant until the employees returned to work on January 4, 2021. In response to the COVID-19 pandemic, Congress created, and on March 27, 2020 the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Included in the CARES Act was the creation of the Paycheck Protection Program (PPP) pursuant to which Small Business Administration (SBA) eligible lenders provide low-interest, SBA guaranteed loans to borrowers who meet the requirements of the PPP so that the borrowers can keep their workers on the payroll. To bolster the effectiveness of the PPP, the Federal Reserve System has supplied liquidity to participating financial institutions, including the Bank, through term financing backed by PPP loans to small businesses. The PPP Liquidity Facility (the “PPPL Facility”) extends credit to eligible financial institutions that originate PPP loans, taking the loans as collateral at face value. To support the use of the PPPL Facility, the banking regulatory agencies are allowing banking organizations to exclude loans pledged as collateral to the PPPL Facility from a banking organization's total leverage exposure, average total consolidated assets, advanced approaches total risk-weighted assets, and standardized total risk-weighted assets, as applicable. The Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System and Office of the Comptroller of the Currency issued an interim final rule on April 7, 2020, that allows banking organizations to neutralize the regulatory capital effects of participating in the PPPL Facility. In addition, loans made under the PPP receive a zero percent risk weight under the agencies' regulatory capital rules regardless of whether they are pledged as collateral to the PPPL Facility. However, such loans will be included in a banking organization's leverage ratio requirement unless they are pledged as collateral to the PPPL Facility. The Bank worked with existing customers to provide PPP loans, and between April 3, 2020 and May 21, 2020 the Bank approved, and obtained SBA approval, for 133 loan requests totaling $17.4 million under the PPP. These loans are listed as loan type Commercial SBA PPP loans in the Bank’s loan portfolio in “Note 4 – Loans and Allowance for Loan Losses” in this report. In October 2020, the Company began processing loans that have been forgiven under SBA guidelines. The Company is highly focused on navigating the current challenges brought on by the COVID-19 pandemic. While it is expected to see continued adverse impact to earnings in the near term, the Company is confident in its leadership, solid balance sheet and strong risk management to manage it through this time . Basis of Presentation The consolidated financial statements include the accounts of Glen Burnie Bancorp, The Bank of Glen Burnie and GBB Properties, Inc., a company engaged in the acquisition and disposition of other real estate. All significant intercompany transactions are eliminated in consolidation and certain reclassifications are made when necessary in order to conform the previous year’s financial statements to the current year’s presentation. In preparing the consolidated financial statements, the Company is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and revenues and expenses during the reporting periods and related disclosures. These estimates that require application of management's subjective or complex judgments often result in the need to make estimates about the effect of matters that are inherently uncertain and may change in future periods. Management has made significant estimates in several areas, including the valuation of certain loans held for investment (Note 4, Loans and Allowance ); allowance for credit losses (Note 4, Loans and Allowance ); valuation of investment securities (Note 3, Investment Securities ); the fair value of financial instruments (Note 16, Fair Value of Financial Instruments ); benefit plan obligations and expenses (Note 10, Pension and Profit Sharing Plans ); and the valuation of deferred tax assets (Note 9, Income Taxes ). Certain amounts in the financial statements from prior periods have been reclassified to conform to the current financial statement presentation. The Parent Only financial statements (see Note 19, Parent Company Financial Information ) of the Company account for the subsidiary using the equity method of accounting. Investment Securities We classify investment securities as trading, held to maturity ("HTM"), or available for sale ("AFS") at the date of acquisition. Purchases and sales of securities are generally recorded on a trade-date basis. Investment securities that we might not hold until maturity are classified as AFS and are reported at fair value in the statement of financial condition. Fair value measurement is based upon quoted market prices in active markets, if available. If quoted prices in active markets are not available, fair value is measured using pricing models or other model-based valuation techniques such as the present value of future cash flows, which consider prepayment assumptions and other factors such as credit losses and market liquidity. Unrealized gains and losses are excluded from earnings and reported, net of tax, in other comprehensive income (“OCI”). Purchase premiums and discounts are recognized in interest income using the effective interest method over the life of the securities. Purchase premiums or discounts related to mortgage-backed securities are amortized or accreted using projected prepayment speeds. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. AFS investment securities in unrealized loss positions are evaluated for other-than-temporary impairment (“OTTI”) at least quarterly. For AFS securities, a decline in fair value is considered to be other-than-temporary if the Company does not expect to recover the entire amortized cost basis of the security. Debt securities are classified as HTM if the Company has both the intent and ability to hold those securities to maturity regardless of changes in market conditions, liquidity needs or changes in general economic conditions. These securities are carried at cost adjusted for amortization of purchase premiums and accretion of purchase discounts. Transfers of securities from available for sale to held to maturity are accounted for at fair value as of the date of the transfer. The difference between the fair value and the par value at the date of transfer is considered a premium or discount and is accounted for accordingly. Any unrealized gain or loss at the date of the transfer is reported in OCI, and is amortized over the remaining life of the security as an adjustment of yield in a manner consistent with the amortization of any premium or discount, and will offset or mitigate the effect on interest income of the amortization of the premium or discount for that held to maturity security. Impairment may result from credit deterioration of the issuer or collateral underlying the security. In performing an assessment of recoverability, all relevant information is considered, including the length of time and extent to which fair value has been less than the amortized cost basis, the cause of the price decline, credit performance of the issuer and underlying collateral, and recoveries or further declines in fair value subsequent to the balance sheet date. For debt securities, the Company measures and recognizes OTTI losses through earnings if (1) the Company has the intent to sell the security or (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. In these circumstances, the impairment loss is equal to the full difference between the amortized cost basis and the fair value of the security. For securities that are considered other-than-temporarily-impaired that the Company has the intent and ability to hold in an unrealized loss position, the OTTI write-down is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to other factors, which is recognized as a component of OCI. For equity securities, the Company recognizes OTTI losses through earnings if the Company intends to sell the security. The Company also considers other relevant factors, including its intent and ability to retain the security for a period of time sufficient to allow for any anticipated recovery in market value, and whether evidence exists to support a realizable value equal to or greater than the carrying value. Any impairment loss on an equity security is equal to the full difference between the amortized cost basis and the fair value of the security. Federal Home Loan Bank Stock As a borrower from the Federal Home Loan Bank of Atlanta ("FHLB"), the Bank is required to purchase an amount of FHLB stock based on our outstanding borrowings with the FHLB. This stock is used as collateral to secure the borrowings from the FHLB and is accounted for as a cost-method investment. FHLB stock is an equity interest that does not necessarily have a readily determinable fair value for purposes of the ASC Topic 320, Accounting for Certain Investments in Debt and Equity Securities , because its ownership is restricted and lacks a market. FHLB stock can be sold back only at its par value of $100 per share and only to the FHLB or another member institution. Other Securities Maryland Financial Bank Dissolution Trust ("the Trust"), is a "liquidating trust" for U.S. federal income tax purposes. The sole purpose of the Trust is to liquidate the remaining assets, resolve the remaining liabilities, and to distribute the net proceeds to the Trust's beneficiaries. This an equity interest that does not necessarily have a readily determinable fair value for purposes of the ASC Topic 320, Accounting for Certain Investments in Debt and Equity Securities , because its ownership is restricted and lacks a market. This stock is accounted for as a cost-method investment. Loans Held for Investment Loans held for investment are reported at the principal amount outstanding, net of cumulative charge-offs, interest applied to principal (for loans accounted for using the cost recovery method), unamortized net deferred loan origination fees and costs and unamortized premiums or discounts on purchased loans. Interest on loans is accrued and recognized as interest income at the contractual rate of interest. When a loan is designated as held for investment, the intent is to hold these loans for the foreseeable future or until maturity or pay off. From time to time, the Company will originate loans to facilitate the sale of other real estate owned (OREO). Such loans are accounted for using the installment method and any gain on sale is deferred. The Bank financed no sales of OREO for 2020 or 2019. Loan Fees and Costs Loan origination fees, commitment fees, direct loan origination costs and purchase premiums and discounts on loans are deferred and recognized as an adjustment of yield, to be amortized to interest income over the contractual term of the loan. Nonaccrual Loans Loans are placed on nonaccrual status when the full and timely collection of principal and interest is doubtful, generally when the loan becomes 90 days or more past due for principal or interest payment or if part of the principal balance has been charged off. When a loan is placed on nonaccrual status all interest previously accrued but not collected is reversed against current period interest income. All payments received on nonaccrual loans are accounted for using the cost recovery method. Under the cost recovery method, all cash collected is applied to first reduce the principal balance. A loan may be returned to accrual status if all delinquent principal and interest payments are brought current and the collectability of the remaining principal and interest payments in accordance with the loan agreement is reasonably assured. Loans that are well-secured and in the process of collection are maintained on accrual status, even if they are 90 days or more past due. Impaired Loans A loan is considered impaired when it is probable that all contractual principal and interest payments due will not be collected in accordance with the terms of the loan agreement. Factors considered by management in determining whether a loan is impaired include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The carrying value of impaired loans is based on the present value of the loan’s expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral. Troubled Debt Restructurings A loan is accounted for and reported as a troubled debt restructuring (“TDR”) when, for economic or legal reasons, we grant a concession to a borrower experiencing financial difficulty that we would not otherwise consider. Management strives to identify borrowers in financial difficulty early and works with them to modify to more affordable terms before their loan reaches nonaccrual status. These modified terms may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. A restructuring that results in only an insignificant delay in payment is not considered a concession. A delay may be considered insignificant if the payments subject to the delay are insignificant relative to the unpaid principal or collateral value and the contractual amount due, or the delay in timing of the restructured payment period is insignificant relative to the frequency of payments, the debt's original contractual maturity or original expected duration. TDRs are designated as impaired because interest and principal payments will not be received in accordance with the original contract terms. TDRs that are performing and on accrual status as of the date of the modification remain on accrual status. TDRs that are nonperforming as of the date of modification generally remain as nonaccrual until the prospect of future payments in accordance with the modified loan agreement is reasonably assured, generally demonstrated when the borrower maintains compliance with the restructured terms for a predetermined period, normally at least six months. TDRs with temporary below-market concessions remain designated as a TDR and impaired regardless of the accrual or performance status until the loan is paid off. However, if the TDR loan has been modified in a subsequent restructure with market terms and the borrower is not currently experiencing financial difficulty, then the loan may be de-designated as a TDR. Allowance for Loan Losses Credit quality within the loan portfolio is continuously monitored by management and is reflected within the allowance for loan losses. The allowance for loan losses is maintained at a level that, in management's judgment, is appropriate to cover losses inherent within the Company’s loan portfolio, including unfunded credit commitments, as of the balance sheet date. The allowance for loan losses, as reported in our consolidated statements of financial condition, is adjusted by a provision for loan losses, which is recognized in earnings, and reduced by the charge-off of loan amounts, net of recoveries. The allowance for loan losses is maintained at a level believed adequate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans and actual loss experience, current economic events in specific industries and geographical areas, including unemployment levels, and other pertinent factors, including regulatory guidance and general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, and consideration of current economic trends, all of which may be susceptible to significant change. Loan losses are charged off against the allowance, while recoveries of amounts previously charged off are credited to the allowance. A provision for loan losses is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least quarterly and more often if deemed necessary. Loan Loss Measurement Allowance levels are influenced by loan volumes, internal asset quality ratings, delinquency status, historic loss experience and other conditions influencing loss expectations, such as economic conditions. The methodology for evaluating the adequacy of the allowance for loan losses has two basic components: First, an asset-specific component involving the identification of impaired loans and the measurement of impairment for each individual loan identified; and second, a formula-based component for estimating probable loan principal losses for all other loans. Impaired Loans The specific credit allocations are based on regular analysis of all loans over a fixed-dollar amount where the internal credit rating is at or below a predetermined classification. When a loan is identified as impaired, impairment is measured based on net realizable value, and the recorded investment balance of the loan. For impaired loans, we recognize impairment if we determine that the net realizable value of the impaired loan is less than the recorded investment of the loan (net of previous charge-offs and deferred loan fees and costs), except when the sole remaining source of collection is the underlying collateral. In these cases impairment is measured as the difference between the recorded investment balance of the loan and the fair value of the collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale (rather than only on the operation) of the collateral. Once the impairment amount is determined, an asset-specific allowance is provided that is equal to the calculated impairment and included in the allowance for loan losses. If the calculated impairment is determined to be permanent or not recoverable, the impairment will be charged off. Factors considered by management in determining if impairment is permanent or not recoverable include whether management judges the loan to be uncollectible, repayment is deemed to be protracted beyond reasonable time frames or the loss becomes evident owing to the borrower’s lack of assets. Estimate of Probable Loan Losses In estimating the formula-based component of the allowance for loan losses, loans are segregated into loan classes based on product types and similar risk characteristics or areas of risk concentration. Loans of similar type and purpose, not meeting the criteria for an asset-specific allocation, are aggregated into loan classes, and a reserve factor is applied to each loan class based on the historical loss experience of that class and six qualitative factors. Qualitative factors are expressed in basis points and are adjusted downward or upward based on management’s judgment as to the potential loss impact of each qualitative factor to a particular loan class at the date of the analysis. To determine the amount of allowance for credit losses, the Bank uses the current year’s loss data and the previous four years of loss data for each homogenous portfolio on a non-weighted basis. The current year’s data is annualized to a twelve-month basis to determine a loss percentage. The average for each portfolio’s historical losses are then adjusted by six qualitative factors applied to each of the loan classes. The historical loss analysis is performed quarterly and loss factors are updated monthly based on actual experience. Reserve for Unfunded Commitments The Company maintains a separate allowance for losses on unfunded loan commitments, which is included in accrued expenses and other liabilities on the consolidated statements of financial condition. The reserve for unfunded commitments (off-balance sheet financial instruments) is established through a provision for losses — unfunded commitments, the changes of which are recorded in noninterest expense. The reserve for unfunded commitments is an amount that management believes will be adequate to absorb probable losses inherent in existing commitments, including unused portions of revolving lines of credit and other loans, standby letters of credit, and unused deposit account overdraft privileges. The reserve for unfunded commitments is based on evaluations of the collectability, and prior loss experience of unfunded commitments. The evaluations take into consideration such factors as changes in the nature and size of the loan portfolio, overall loan portfolio quality, loan concentrations, specific problem loans and related unfunded commitments, and current economic conditions that may affect the borrower’s or depositor’s ability to pay. Other Real Estate Owned Other real estate owned ("OREO") represents real estate acquired in partial or total satisfaction of debts previously contracted with the Company, generally through the foreclosure of loans. These properties are initially recorded at the net realizable value (fair value of collateral less estimated costs to sell). Upon transfer of a loan to OREO, an appraisal is obtained and any excess of the loan balance over the net realizable value is charged against the allowance for loan losses. Subsequent declines in net realizable value identified from the ongoing analysis of such properties as well as gains and losses realized from the sale of OREO are recognized in current period earnings within noninterest expense as foreclosed property expense. The net realizable value of these assets is reviewed and updated as circumstances warrant. Loans transferred to OREO through foreclosure proceedings totaled $575,000 for the year ended December 31, 2020. There were no loans transferred to OREO for the year ended December 31, 2020. Premises and Equipment Bank premises and equipment are stated at cost less accumulated depreciation and depreciated over the estimated useful life of the related asset or the term of the lease using the straight-line method. Expenditures for improvements that extend the life of an asset are capitalized and depreciated over the asset’s remaining useful life. Gains or losses realized on the disposition of premises and equipment are reflected in the consolidated statements of income. Expenditures for repairs and maintenance are charged to occupancy and equipment expense as incurred. Computer software is recorded at cost and amortized over three to five years. Management periodically evaluates the carrying value of long-lived assets and certain identifiable intangibles, including goodwill, furniture and equipment and leasehold improvements for impairment. Income Taxes Our income tax expense, and deferred tax assets and liabilities reflect management’s best assessment of estimated current and future taxes to be paid. Significant judgments and estimates are required in determining the consolidated income tax expense. Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes and are reflected as discrete tax items in the Company’s tax provision. The Company records net deferred tax assets to the extent it is believed that these assets will more likely than not be realized. In making this determination, the Company considers all available evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and recent financial operations. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with a taxing authority. The Company files a consolidated federal income tax return and separate company state tax returns. For a more detailed description of income taxes see Note 9, Income Taxes of the Notes to Consolidated Financial Statements. Interest Rate Swap Agreements For asset/liability management purposes, the Company periodically uses interest rate swap agreements to hedge various exposures or to modify interest rate characteristics of various balance sheet accounts. All interest rate swap agreements are recorded at fair value. The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to its likelihood of effectiveness as a hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the der

Restrictions on Cash and Amount

Restrictions on Cash and Amounts Due from Banks	12 Months Ended
	Dec. 31, 2020
Restrictions on Cash and Amounts Due from Banks
Restrictions on Cash and Amounts Due from Banks	Note 2. Restrictions on Cash and Amounts Due from Banks At the beginning of the year the Bank was required to maintain cash balances on hand or with the Federal Reserve Bank based on average deposit liabilities. On March 26, 2020 the Board of Governors of the Federal Reserve System set the reserve requirement ratios to zero percent and reserve requirements were no longer administered. On December 22, 2020 the zero percent reserve requirement ratio was extended for three years. At December 31, 2020 and 2019, the average reserve balances were $0.4 million and $1.5 million, respectively.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2020
INVESTMENT SECURITIES
INVESTMENT SECURITIES	Note 3. Investment Securities A summary of the amortized cost and market value of securities available for sale at December 31, 2020 and 2019 is as follows: At December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value Collaterized mortgage obligations $ 24,261 $ 396 $ (14) $ 24,643 Agency mortgage-backed securities 26,072 886 (10) 26,948 Municipal securities 28,675 740 (2) 29,413 U.S. Government agency securities 33,346 9 (310) 33,045 U.S. Treasury securities — — — — Total securities available for sale $ 112,354 $ 2,031 $ (336) $ 114,049 At December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value Collaterized mortgage obligations $ 27,618 $ 52 $ (187) $ 27,483 Agency mortgage-backed securities 27,823 149 (135) 27,837 Municipal securities 12,301 191 (17) 12,475 U.S. Government agency securities 3,195 1 (5) 3,191 U.S. Treasury securities 500 — — 500 Total securities available for sale $ 71,437 $ 393 $ (344) $ 71,486 The following tables show the fair value and gross unrealized losses associated with the investment portfolio, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2020 and 2019: At December 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Loss Value Loss Value Loss Collaterized mortgage obligations $ 201 $ — $ 1,188 $ (14) $ 1,389 $ (14) Agency mortgage-backed securities — — 566 (10) 566 (10) Municipal securities 851 (2) — — 851 (2) U.S. Government agency securities 24,160 (308) 481 (2) 24,641 (310) $ 25,212 $ (310) $ 2,235 $ (26) $ 27,447 $ (336) At December 31, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Loss Value Loss Value Loss Collaterized mortgage obligations $ 11,792 $ (65) $ 7,330 $ (122) $ 19,122 $ (187) Agency mortgage-backed securities 4,577 (20) 10,918 (115) 15,495 (135) Municipal securities 1,806 (7) 864 (10) 2,670 (17) U.S. Government agency securities 591 (5) — — 591 (5) $ 18,766 $ (97) $ 19,112 $ (247) $ 37,878 $ (344) At December 31, 2020 and 2019, the Company did not have any securities that had impairment charges. The Company's investment securities portfolio consists primarily of debt securities issued by U.S. Government agencies, U.S. Government-sponsored agencies, state governments and local municipalities. There were no private label mortgage-backed securities ("MBS") or collateralized mortgage obligations ("CMO") held in the investment securities portfolio as of December 31, 2020 and December 31, 2019. The fair value of investment securities is impacted by interest rates, credit spreads, market volatility and liquidity conditions. Net unrealized gains and losses in the available for sale portfolio are included in shareholders' equity as a component of accumulated other comprehensive income or loss, net of tax. An unrealized loss exists when the current fair value of an individual security is less than the amortized cost basis. The Company regularly evaluates investment securities that are in an unrealized loss position in order to determine if the decline in fair value is other than temporary. Factors considered in the evaluation include the current economic climate, the length of time and the extent to which the fair value has been below cost, the current interest rate environment and the rating of each security. An other-than-temporary impairment ("OTTI") loss must be recognized for a debt security in an unrealized loss position if the Company intends to sell the security or it is more likely than not that it will be required to sell the security prior to recovery of the amortized cost basis. The amount of OTTI loss recognized is equal to the difference between the fair value and the amortized cost basis of the security that is attributed to credit deterioration. Accounting standards require the evaluation of the expected cash flows to be received to determine if a credit loss has occurred. In the event of a credit loss, that amount must be recognized against income in the current period. The portion of the unrealized loss related to other factors, such as liquidity conditions in the market or the current interest rate environment, is recorded in accumulated other comprehensive income (loss) for investment securities classified as available for sale. The Company held forty-two U.S. Government agency, four collateralized mortgage obligations, and two agency mortgage-backed securities that were in an unrealized loss position at December 31, 2020. Principal and interest payments of the underlying collateral for each of these securities are backed by U.S. Government sponsored agencies and carry minimal credit risk. Management found no evidence of OTTI on any of these securities and believes the unrealized losses are due to fluctuations in fair values resulting from changes in market interest rates and are considered temporary as of December 31, 2020. All municipal securities held in the investment portfolio are reviewed on at least a quarterly basis for impairment. Each bond carries an investment grade rating by either Moody's or Standard & Poor's. In addition the Company periodically conducts its own independent review on each issuer to ensure the financial stability of the municipal entity. The largest geographic concentration was in Maryland and Texas and consisted of either general obligation or revenue bonds backed by the taxing power of the issuing municipality. At December 31, 2020, the investment portfolio included one municipal securities that was in an unrealized loss position. Management believes the unrealized losses were the result of movements in long-term interest rates and are not reflective of any credit deterioration. At December 31, 2020 and 2019, investment securities in the amount of approximately $0.9 and $0.8 million, respectively were pledged as collateral for interest rate swap contracts. Unrealized losses on securities in the investment portfolio amounted to $0.3 million with a total fair value of $27.4 million as of December 31, 2020 compared to unrealized losses of $0.3 million with a total fair value of $37.9 million as of December 31, 2019. The Company believes the unrealized losses presented in the tables above are temporary in nature and primarily related to market interest rates or limited trading activity in a particular type of security rather than the underlying credit quality of the issuers. The Company does not believe that these losses are other than temporary and does not currently intend to sell or believe it will be required to sell securities in an unrealized loss position prior to maturity or recovery of the amortized cost bases. In 2018, the Board of Directors at Maryland Financial Bank (“MFB”) determined that it was advisable and in the best interests of stockholders to undertake the liquidation and dissolution of MFB. I n 2018, the Bank recognized an impairment loss of $25,000 on the 5,000 shares of MFB stock that it owned. On July 16, 2019, all remaining assets and liabilities of MFB were transferred to the MFB Dissolution Trust (the “Trust”). The purpose of the Trust is to liquidate the remaining assets, resolve the remaining liabilities, and to distribute the net proceeds. The Trust is intended to be a "liquidating trust" for U.S. federal income tax purposes. At December 31, 2019, the Trust was unable to complete all its activities and make cash liquidating distributions to its stockholders due to the bankruptcy of a borrower that has a commercial real estate loan. In 2019, the Bank reduced its investment in the Trust to the projected value of $0.53 per share and decreased the value of its Trust units from $5,000 to $2,650, a $2,350 decrease in value. The following table presents investment securities by stated maturity at December 31, 2020. Collateralized mortgage obligations and agency mortgage-backed securities have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay obligations with or without prepayment penalties and, therefore, these securities are classified separately with no specific maturity date. At December 31, 2020 Amortized Fair (dollars in thousands) Cost Value Due within one year $ 456 $ 461 Due over one to five years 1,380 1,409 Due over five to ten years 483 481 Due over ten years 59,702 60,107 Collaterized mortgage obligations 24,261 24,643 Agency mortgage-backed securities 26,072 26,948 Total securities available for sale $ 112,354 $ 114,049 Proceeds from sales of available for sale securities prior to maturity totaled $21.4 million for the year ended December 31, 2019. No investment securities were sold in 2020. The Bank realized net gains of $6,000 and $3,000 for the years ended December 31, 2020 and 2019, respectively. Realized gains and losses were calculated based on the amortized cost of the securities at the date of trade.

Loans and Allowance

Loans and Allowance	12 Months Ended
	Dec. 31, 2020
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES	Note 4. Loans and Allowance for Loan Losses The following table sets forth the Company's gross loans by major categories as of December 31, 2020 and 2019: December 31, (dollars in thousands) 2020 2019 Consumer $ 11,548 $ 12,076 Residential real estate 75,653 81,033 Indirect 74,644 102,384 Commercial 14,121 11,907 Commercial SBA PPP 9,912 — Construction 900 3,317 Commercial real estate 66,994 74,021 Total loans receivable 253,772 284,738 Allowance for loan losses (1,476) (2,066) Net loans receivable $ 252,296 $ 282,672 The Company disaggregates its loan portfolio into groups of loans with similar risk characteristics for purposes of estimating the allowance for loan losses and monitoring and assessing credit quality. The Company's loan groups include consumer, residential real estate, indirect automobile, commercial, commercial SBA PPP, construction and commercial real estate. The Bank has an automotive indirect lending program where vehicle collateralized loans made by dealers to consumers are acquired by the Bank. The Bank’s indirect loan group included $74.6 million and $102.4 million of such loans at December 31, 2020 and 2019, respectively. The Commercial Small Business Administration (SBA) Paycheck Protection Program (PPP) loan balance was $9.9 million at December 31, 2020. This new loan type is discussed in “Note 1. Nature of Business.” The Bank makes loans to customers located primarily in Anne Arundel County and surrounding areas of Central Maryland. Although the loan portfolio is diversified, its performance will be influenced by the economy of the region. Included in loans are loans due from directors, executive officers and other related parties of $0.3 million at December 31, 2020, and $0.4 million at December 31, 2019. These loans are made on the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with unrelated borrowers. The Board of Directors approves loans to directors, executive officers and other related parties to confirm that collateral requirements, terms and rates are comparable to other borrowers and are in compliance with underwriting policies. The following presents the activity in amount due from directors and other related parties for the years ended December 31, 2020 and 2019. December 31, (dollars in thousands) 2020 2019 Balance at beginning of year $ 371 $ 504 Additions 368 582 Repayments (463) (715) Balance at end of year $ 276 $ 371 Allowance for Loan Losses To control and monitor credit risk, management has an internal credit process in place to determine whether credit standards are maintained along with in-house loan administration accompanied by oversight and review procedures. Oversight and review procedures include the monitoring of the portfolio credit quality, early identification of potential problem credits and the management of problem credits. As part of the oversight and review process, the Company maintains an allowance for loan losses to absorb estimated and probable losses inherent in the loan portfolio. For purposes of determining the allowance for loan losses, the Bank has segmented the loan portfolio into the following classifications: · Consumer · Residential Real Estate · Indirect · Commercial · Construction · Commercial Real Estate A provision was not recognized for the Commercial SBA PPP loans as these loans are 100% guaranteed by the SBA. The analysis for determining the allowance is consistent with guidance set forth in GAAP and the Interagency Policy Statement on the Allowance for Loan and Lease Losses. Pursuant to Bank policy, the allowance is evaluated quarterly by management and is based upon management's review of the collectability of loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrowers' ability to repay, estimated value of any underlying collateral and prevailing economic conditions. Each loan segment is reviewed and analyzed using the average historical charge-offs over the current and preceding four-year periods for their respective segments as well as the following qualitative factors: · Changes in asset quality including past due (30 ‑ 89 days) loans, nonaccrual loans, classified assets, watch list loans all in relation to total loans. Also policy exceptions in relationship to loan volume. · Changes in the rate and direction of the loan volume of the portfolio. · Concentration of credit including the percentage, changes, and relative to goals. · Changes in macro-economic factors including the rates and direction of unemployment, median income and population. · Changes in internal factors including external loan review required reserve changes, internal review penetration, internal required reserve changes and weighted required reserve trends. · Changes in the charge offs and recoveries adjusted for rate and direction. The allowance consists of specific and general reserves. The specific reserves relate to loans classified as impaired, primarily including nonaccrual and troubled debt restructurings (“TDRs”). The reserve for these loans is established when the discounted cash flows, collateral value, or observable market price, whichever is appropriate, of the impaired loan is lower than the carrying value. For impaired loans, any measured impairment is charged off against the loan and allowance for those loans that are collateral dependent in the applicable reporting period. The general reserve covers loans that are not classified as impaired and primarily includes new loan originations. The general reserve requirement is based on historical loss experience and the qualitative factors noted above that have been determined to have an effect on the probability and magnitude of a loss. The following table presents the total allowance by loan segment: December 31, 2020 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Balance, beginning of year $ 122 $ 589 $ 917 $ 38 $ — $ 11 $ 389 $ 2,066 Charge-offs — — (392) — — — — (392) Recoveries 9 266 196 20 — — — 491 Provision for loan losses (8) (424) (147) 34 — (8) (136) (689) Balance, end of year $ 123 $ 431 $ 574 $ 92 $ — $ 3 $ 253 $ 1,476 Individually evaluated for impairment: Balance in allowance $ 11 $ — $ — $ — $ — $ — $ — $ 11 Related loan balance 39 132 — — — — 4,493 4,664 Collectively evaluated for impairment: Balance in allowance $ 112 $ 431 $ 574 $ 92 $ — $ 3 $ 253 $ 1,465 Related loan balance 11,509 75,521 74,644 14,121 9,912 900 62,501 249,108 December 31, 2019 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Balance, beginning of year $ 161 $ 864 $ 988 $ 241 $ — $ 4 $ 283 $ 2,541 Charge-offs (69) (16) (504) (27) — — — (616) Recoveries 16 5 225 10 — — — 256 Provision for loan losses 14 (264) 208 (186) — 7 106 (115) Balance, end of year $ 122 $ 589 $ 917 $ 38 $ — $ 11 $ 389 $ 2,066 Individually evaluated for impairment: Balance in allowance $ 15 $ — $ — $ — $ — $ — $ — $ 15 Related loan balance 86 631 — — — — 3,680 4,397 Collectively evaluated for impairment: Balance in allowance $ 107 $ 589 $ 917 $ 38 $ — $ 11 $ 389 $ 2,051 Related loan balance 11,990 80,402 102,384 11,907 — 3,317 70,341 280,341 Management believes the allowance for loan losses is at an appropriate level to absorb inherent probable losses in the portfolio. The f ollowing table rolls forward the Company’s activity for nonaccrual loans during the years 2020 and 2019: Residential Commercial Consumer Real Estate Indirect Commercial Real Estate Totals (dollars in thousands) December 31, 2018 186 956 116 27 662 1,947 Transfers into nonaccrual 135 571 702 86 2,746 4,240 Loans paid down/payoffs (55) (782) (76) (86) (269) (1,268) Loans returned to accrual status (88) — (133) — — (221) Loans charged off (41) (17) (486) (27) — (571) December 31, 2019 137 728 123 — 3,139 4,127 Transfers into nonaccrual 64 — 551 — 1,619 2,234 Loans paid down/payoffs (67) (557) (104) — (152) (880) Loans returned to accrual status — — (17) — (577) (594) Loans charged off — — (375) — — (375) December 31, 2020 134 171 178 — 4,029 4,512 Credit Quality Information In addition to monitoring the performance status of the loan portfolio, the Company utilizes a risk rating scale (1-8) to evaluate loan asset quality for all loans. Loans that are rated 1-4 are classified as “pass” credits. For the pass rated loans, management believes there is a low risk of loss related to these loans and as necessary, credit may be strengthened through improved borrower performance and/or additional collateral. Loans rated a 5 (Special Mention) are pass credits, but are loans that have been identified that warrant additional attention and monitoring and represent “criticized” assets. Loans rated a 6 (Substandard) or higher are considered “criticized” loans and represent an increased level of credit risk. The use and application of these risk ratings by the Bank conform to the Bank's policy and regulatory definitions. The Bank’s internal risk ratings are as follows: 1 – 4 (Pass) - Pass credits are loans in grades “superior” through “acceptable”. These are at least considered to be credits with acceptable risks and would be granted in the normal course of lending operations. 5 (Special Mention) - Special mention credits have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credits or in the Bank’s credit position at some future date. If weaknesses cannot be identified, classifying as special mention is not appropriate. Special mention credits are not adversely classified and do not expose the Bank to sufficient risk to warrant an adverse classification. No apparent loss of principal or interest is expected. 6 (Substandard) - Substandard credits are inadequately protected by the current worth and paying capacity of the obligor or by the collateral pledged. Financial statements normally reveal some or all of the following: poor trends, lack of earnings and cash flow, excessive debt, lack of liquidity, and the absence of creditor protection. Credits so classified must have a well-defined weakness, or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. 7 (Doubtful) - A doubtful credit has all the weaknesses inherent in a substandard asset with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors that may work to the advantage and strengthening of the asset, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and refinancing plans. Doubtful classification for an entire credit should be avoided when collection of a specific portion appears highly probable with the adequately secured portion graded Substandard. In the normal course of loan portfolio management, loan originators are responsible for continuous assessment of credit risk arising from the individual borrowers within their portfolio and assigning appropriate risk ratings. Credit Administration is responsible for ensuring the integrity and operation of the risk rating system and maintenance of the watch list. The Bank contracts with an independent 3 rd party loan review firm that reviews and validates the internal credit risk program on an annual basis. Results of these reviews are presented to the Audit Committee for approval and then to management for implementation. The loan review process compliments and reinforces the risk identification and assessment decisions made by the lenders and credit personnel as well as the Bank’s policies and procedures. The following table provides information with respect to the Company's risk ratings by loan portfolio segment: December 31, 2020 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Pass $ 11,475 $ 75,482 $ 74,467 $ 14,121 $ 9,912 $ 900 $ 62,501 $ 248,857 Special mention — — — — — — — — Substandard 73 171 61 — — — 4,493 4,798 Doubtful — — 116 — — — — 116 Loss — — — — — — — — $ 11,548 $ 75,653 $ 74,644 $ 14,121 $ 9,912 $ 900 $ 66,994 $ 253,772 Nonaccrual 134 171 178 — — 4,029 4,512 Troubled debt restructures 39 — — — — — — 39 Number of TDRs accounts 1 — — — — — — 1 Non-performing TDRs 39 — — — — — — 39 Number of non-performing TDR accounts 1 — — — — — — 1 December 31, 2019 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Pass $ 11,939 $ 80,305 $ 102,261 $ 11,907 $ — $ 3,317 $ 70,341 $ 280,070 Special mention — — — — — — — — Substandard 137 728 44 — — — 3,680 4,589 Doubtful — — 79 — — — — 79 Loss — — — — — — — — $ 12,076 $ 81,033 $ 102,384 $ 11,907 $ — $ 3,317 $ 74,021 $ 284,738 Nonaccrual 137 728 123 — — — 3,139 4,127 Troubled debt restructures 41 — — — — — — 41 Number of TDRs accounts 1 — — — — — — 1 Non-performing TDRs 41 — — — — — — 41 Number of non-performing TDR accounts 1 — — — — — — 1 Troubled Debt Restructurings The restructuring of a loan constitutes a TDR if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider in the normal course of business. A concession may include an extension of repayment terms which would not normally be granted, a reduction of interest rate or the forgiveness of principal and/or accrued interest. If the debtor is experiencing financial difficulty and the creditor has granted a concession, the Company will make the necessary disclosures related to the TDR. In certain cases, a modification may be made in an effort to retain a customer who is not experiencing financial difficulty. This type of modification is not considered to be a TDR. Once a loan has been modified and is considered a TDR, it is reported as an impaired loan. All TDRs are evaluated individually for impairment on a quarterly basis as part of the allowance for credit losses calculation. A specific allowance for TDR loans is established when the discounted cash flows, collateral value or observable market price, whichever is appropriate, of the TDR is lower than the carrying value. If a loan deemed a TDR has performed for at least six months at the level prescribed by the modification, it is not considered to be non-performing; however, it will generally continue to be reported as impaired, but may be returned to accrual status. A TDR is deemed in default on its modified terms once a contractual payment is 30 or more days past due. There were no new loans modified as TDRs for the years ended December 31, 2020 and 2019. At December 31, 2020, the recorded investment in TDR’s reflected one loan in the amount of $38,711 which is on nonaccrual. At December 31, 2019, the recorded investment in TDR’s reflected one loan in the amount of $40,951 which was on nonaccrual. The Bank has no commitments to loan additional funds to the borrowers of restructured, impaired, or nonaccrual loans. Asset Quality The following table presents the loan portfolio segments summarized by aging categories of performing loans and nonaccrual loans as of December 31, 2020 and 2019: n 90 Days or 30-89 Days More and December 31, 2020 Current Past Due Still Accruing Nonaccrual Total (dollars in thousands) Consumer $ 11,414 $ — $ — $ 134 $ 11,548 Residential Real Estate 73,715 1,749 18 171 75,653 Indirect 74,014 452 — 178 74,644 Commercial 14,121 — — — 14,121 Commercial SBA PPP 9,912 — — — 9,912 Construction 900 — — — 900 Commercial Real Estate 62,965 — — 4,029 66,994 $ 247,040 $ 2,201 $ 18 $ 4,512 $ 253,772 90 Days or 30-89 Days More and December 31, 2019 Current Past Due Still Accruing Nonaccrual Total (dollars in thousands) Consumer $ 11,865 $ 74 $ — $ 137 $ 12,076 Residential Real Estate 80,192 92 21 728 81,033 Indirect 101,605 656 — 123 102,384 Commercial 11,907 — — — 11,907 Commercial SBA PPP — — — — — Construction 3,317 — — — 3,317 Commercial Real Estate 70,882 — — 3,139 74,021 $ 279,768 $ 822 $ 21 $ 4,127 $ 284,738 Loans on which the accrual of interest has been discontinued totaled $4.5 million and $4.1 million at December 31, 2020 and 2019, respectively. The Bank recognizes interest income on non-accrual loans using a cash basis method for the time they are on non-accrual. Interest income that was recognized on these non-accrual loans totaled $0.2 million and $0.1 million for the years ended December 31, 2020 and 2019. Loans past due 90 days or more and still accruing interest totaled $18,000, and $21,000 at December 31, 2020 and 2019, respectively. Management believes these particular loans are well secured and in the process of full collection of all amounts owed. Nonaccrual loans with specific reserves at December 31, 2020 are comprised of: Consumer – One loan to in the amount of $38,711 with $10,710 of specific reserves established for the loans. Impaired Loans The following table presents information with respect to impaired loans. Management determined the specific reserve in the allowance based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, except when the remaining source of repayment for the loan is the operation or liquidation of the collateral. In those cases, the current fair value of the collateral, less estimated selling costs is used to determine the specific allowance recorded. Unpaid Interest Average December 31, 2020 Recorded Principal Income Specific Recorded (dollars in thousands) Investment Balance Recognized Reserve Investment Impaired loans with specific reserves: Consumer $ 28 $ 39 $ 2 $ 11 $ 50 Residential Real Estate — — — — — Indirect — — — — — Commercial — — — — — Construction — — — — — Commercial Real Estate — — — — — Total impaired loans with specific reserves $ 28 $ 39 $ 2 $ 11 $ 50 Impaired loans with no specific reserve: Consumer $ 34 $ 34 $ 4 n/a $ 44 Residential Real Estate 171 322 — n/a 544 Indirect 178 178 10 n/a 226 Commercial — — — n/a — Construction — — — n/a — Commercial Real Estate 4,493 4,493 185 n/a 4,315 Total impaired loans with no specific reserve $ 4,876 $ 5,027 $ 199 — $ 5,129 Unpaid Interest Average December 31, 2019 Recorded Principal Income Specific Recorded (dollars in thousands) Investment Balance Recognized Reserve Investment Impaired loans with specific reserves: Consumer $ 26 $ 41 $ 2 $ 15 $ 50 Residential Real Estate — — — — — Indirect — — — — — Commercial — — — — — Construction — — — — — Commercial Real Estate — — — — — Total impaired loans with specific reserves $ 26 $ 41 $ 2 $ 15 $ 50 Impaired loans with no specific reserve: Consumer $ 96 $ 96 $ 8 n/a $ 122 Residential Real Estate 728 1,497 14 n/a 1,928 Indirect 123 123 6 n/a — Commercial — — — n/a — Construction — — — n/a — Commercial Real Estate 3,680 3,680 81 n/a 3,845 Total impaired loans with no specific reserve $ 4,627 $ 5,396 $ 109 — $ 5,895

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2020
Premises and Equipment
Premises and Equipment	Note 5. Premises and Equipment A summary of premises and equipment is as follows: Useful December 31, lives 2020 2019 (dollars in thousands) Land $ 685 $ 685 Buildings 5-50 years 6,672 6,555 Equipment and fixtures 5-30 years 8,055 7,596 Construction in progress 99 103 Operating Lease Assets 623 745 16,134 15,684 Accumulated depreciation (12,281) (11,923) $ 3,853 $ 3,761 Depreciation expense totaled $0.3 million for the years ended December 31, 2020 and 2019. Amortization of software totaled $0.1 million for the years ended December 31, 2020 and 2019. Operating lease Right-of-Use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. ROU assets also include any initial direct costs incurred and any lease payments made at or before the lease commencement date, less lease incentives received. The Bank leases its Severna Park and Linthicum branches . Minimum lease obligations under the Severna Park branch are $33,000 per year through September 2021. Minimum lease obligations under the Linthicum branch are $144,424 per year through December 2024, adjusted annually on a pre-determined basis. The Bank is also required to pay all maintenance costs under all these leasing arrangements. Income from rent totaled $65,383 and $45,082 and rent expense totaled $173,593 and $165,459 for the years ended December 31, 2020 and 2019, respectively. The Bank uses its incremental borrowing rate based on the information available at the commencement date in determining the lease liabilities as the Company’s leases generally do not provide an implicit rate. Lease terms may include options to extend or terminate when the Company is reasonably certain that the option will be exercised. Future minimum payments of the Bank’s operating leases as of December 31, 2020 are as follows: Year ending December 31, Amount (dollars in thousands) 2021 $ 185 2022 153 2023 156 2024 161 2025 3 Thereafter 2 Total $ 660

Federal Home Loan Bank and Shor

Federal Home Loan Bank and Short-term Borrowings	12 Months Ended
	Dec. 31, 2020
Federal Home Loan Bank and Short-term Borrowings
Federal Home Loan Bank and Short-term Borrowings	Note 6. Federal Home Loan Bank and Short-term Borrowings The Bank owned 11,965 shares of common stock of the FHLB at December 31, 2020. The Bank is required to maintain an investment of 0.09% of total assets with a dollar cap of $15.0 million, adjusted annually, plus 4.25% of total advances, adjusted for advances and repayments. The credit available under this facility is determined at 25% of the Bank’s total assets, or approximately $107.7 million at December 31, 2020. Short-term advances totaled $20.0 million under this credit arrangement at December 31, 2020. This credit facility is secured by a floating lien on the Bank’s residential mortgage loan portfolio. Average short-term borrowings approximated $24.3 million and $25.6 million for 2020 and 2019, respectively and the weighted average interest rate was 1.94% and 2.26%, respectively. The Federal Home Loan Bank of Atlanta, convertible and adjustable advances total include the following: A $5.0 million adjustable rate advance issued in 2020, which has a final maturity of December 27, 2021. This advance has a 0.39% interest rate at December 31, 2020, with interest payable quarterly. The proceeds of the adjustable rate advance were used to fund loans. A $5.0 million adjustable rate advance issued in 2020, which has a final maturity of December 24, 2021. This advance has a 0.34% interest rate at December 31, 2020, with interest payable quarterly. The proceeds of the adjustable rate advance were used to fund loans. A $10.0 million adjustable rate advance issued in 2020, which has a final maturity of December 31, 2021. This advance had a 0.34% interest rate at December 31, 2020, with interest payable quarterly. The proceeds of the adjustable advance were used to fund loans. At December 31, 2020 the Bank borrowed $9.9 million at a fixed rate of 0.35% under the Federal Reserve’s Discount Window PPPLF program. The Bank also had available unsecured federal funds lines of credit from two financial institutions for $9.0 million and $8.0 million, and a Discount Window line of credit at the Federal Reserve Bank of Richmond in the amount of $10.6 million at December 31, 2020. Derivatives During the fourth quarter of 2017, the Company entered into interest rate swaps to manage interest rate risk. These derivative contract involves the receipt of floating rate interest from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreement, without the exchange of the underlying notional value. These instruments are designated as cash flow hedges as the receipt of floating rate interest from the counterparty is used to manage interest rate risk associated with forecasted issuances of short-term FHLB advances. The change in the fair value of this hedging instrument is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged transaction affects earnings. For derivative financial instruments accounted for as hedging instruments, we formally designate and document, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective, and the manner in which the effectiveness of the hedge will be assessed. We formally assess both at inception and at each reporting period thereafter, whether the derivative financial instruments used in hedging transactions are effective in offsetting changes in cash flows of the related underlying exposures. Any ineffective portion of the changes in cash flow of the instruments is recognized immediately into earnings. ASC 815-10, Derivatives and Hedging (“ASC 815”) requires companies to recognize all derivative instruments as assets or liabilities at fair value in the consolidated balance sheets. In accordance with ASC 815, we designated our interest rate swaps as cash flow hedges of certain active and forecasted variable rate FHLB advances. Changes in the fair value of the hedging instrument, except any ineffective portion, were recorded in accumulated other comprehensive income (loss) until earnings were impacted by the hedged instrument. No components of our hedging instruments were excluded from the assessment of hedge effectiveness in hedging exposure to variability in cash flows. Classification of the gain or loss in the consolidated statements of income upon release from accumulated other comprehensive income (loss) is the same as that of the underlying exposure. We discontinue the use of hedge accounting prospectively when (1) the derivative instrument is no longer effective in offsetting changes in fair value or cash flows of the underlying hedged item; (2) the derivative instrument expires, is sold, terminated, or exercised; or (3) designating the derivative instrument as a hedge is no longer appropriate. When we discontinue hedge accounting because it is no longer probable that an anticipated transaction will occur in the originally expected period, or within an additional two-month period thereafter, changes to fair value that were recorded in accumulated other comprehensive income (loss) are recognized immediately in earnings. As of December 31, 2020, the Company had three outstanding interest rate swaps designated as a cash flow hedges with an aggregate notional value of $20.0 million. The agreements have five year terms and stipulates that the counterparty will pay the Company interest at three-month LIBOR and the Company will pay fixed rates of interest at 2.105%, 2.235% and 2.246% on the $10.0 million, $5.0 million and $5.0 million notional amounts, respectively. These interest rate swaps of $10.0 million, $5.0 million and $5.0 million mature on October 2022, July 2023, and August 2023, respectively, and hedge three-month FHLB advances that will be renewed every year at the LIBOR interest rate at that time. The $10.0 million contract is an interest rate swap that became effective in November 2020 and the two $5.0 million contracts are interest rate swaps that became effective in July 2020 and August 2020. After-tax unrealized losses of $281,000, $204,000 and $204,000 were recognized in accumulated other comprehensive income for the year ended December 31, 2020 and unrealized losses of $94,000, $75,000 and $77,000 were recognized in accumulated other comprehensive income for the year ended December 31, 2019. There was no ineffective portion of these hedges. The Company pays or receives the net interest amount quarterly and includes this amount as part of FHLB advances interest expense on the consolidated income statements. The cash flow hedges were determined to be fully effective during all periods presented. As such, no ineffectiveness has been included in net income. The following table reflects information about swaps designated as cash flow hedges as of December 31, 2020 and 2019: At December 31, 2020 2019 Unrealized Unrealized Notional Pay Receive Assets/ Loss Assets/ Loss (dollars in thousands) Amount Rate Rate Term Liabilities AOCI Liabilities AOCI Interest rate swap $ 10,000 2.105 % 3M LIBOR 11/2017 - 10/2022 $ (387) $ (281) $ (129) $ (94) Interest rate 5,000 2.235 % 3M LIBOR 7/2018 - 7/2023 (281) (204) (102) (75) Interest rate 5,000 2.246 % 3M LIBOR 8/2018 - 8/2023 (281) (204) (105) (77) Total $ 20,000 $ (949) $ (689) $ (336) $ (246) The following table reflects the total interest expense recorded on these swap transactions in the consolidated statements of income during the year ended December 31, 2020 and the interest income recorded during the year ended December 31, 2019: Years Ended December 31, (dollars in thousands) Bank Position 2020 2019 Interest rate swap on FHLB advance Pay fixed/receive variable $ (113) $ 28 Interest rate swap on FHLB advance Pay fixed/receive variable (63) 9 Interest rate swap on FHLB advance Pay fixed/receive variable (65) 11 Total $ (241) $ 48 The Bank is required to pledge securities as collateral for all swaps with dealer counterparties. The fair value of cash or investment securities pledged as collateral by the Bank totaled $949,000 and $750,000 at and December 31, 2020 and 2019.

Long-term Borrowings

Long-term Borrowings	12 Months Ended
	Dec. 31, 2020
Long-term Borrowings
Long-term Borrowings	Note 7. Long-term Borrowings The Bank had no long-term borrowings at December 31, 2020 and 2019.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2020
Deposits
Deposits	Note 8. Deposits The following table summarizes the major classifications of deposit balances as of the dates indicated: December 31, 2020 2019 (dollars in thousands) Noninterest-bearing deposits $ $ Interest-bearing deposits: Interest-bearing checking 32,601 32,171 Money Market 19,077 17,253 Savings 97,036 82,845 Time deposits, $100,000 or more 28,270 34,736 Time deposits below $100,000 40,010 47,277 Total interest- bearing deposits 216,994 214,282 Total Deposits $ 349,620 $ 321,440 Interest expense on deposits for the years ended December 31, 2020 and 2019 is as follows: 2020 2019 (dollars in thousands) Interest-bearing checking $ 9 $ 8 Money Market 9 10 Savings 60 57 Time deposits, $100,000 or more 440 622 Time deposits below $100,000 525 652 Total Interest Expense $ 1,043 $ 1,349 The Bank recognized $0.2 million and $0.3 million of fee income from deposits for the years ended December 31, 2020 and 2019. At December 31, 2020, the scheduled maturities of time deposits are approximately as follows: (dollars in thousands) Amount Maturing in: 2021 $ 37,252 2022 10,722 2023 5,743 2024 9,039 2025 4,172 2026 and thereafter 1,352 Total Time Deposits $ 68,280 Deposit balances of executive officers and directors and their affiliated interests totaled approximately $2.8 million and $1.6 million at December 31, 2020 and 2019, respectively. The Bank had no brokered deposits at December 31, 2020 and 2019.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Taxes
Income Taxes	Note 9. Income Taxes The components of income tax expense are as follows for the years ended December 31, 2020 and 2019: 2020 2019 (dollars in thousands) Current income tax expense: Federal $ 89 $ — State 157 119 Total current tax expense 246 119 Deferred income tax expense: Federal 217 291 State 28 42 Total deferred tax expense 245 333 Total Income tax expense $ 491 $ 452 A reconciliation of income tax expense computed at the statutory rate of 21% at December 31, 2020 and December 31, 2019 to the actual income tax expense for the years ended December 31, 2020 and 2019 is as follows: 2020 2019 (dollars in thousands) Income tax expense at federal statutory rate $ 453 $ 431 (Decrease) increase resulting from: Tax-exempt income (75) (72) Bank owned life insurance (33) (34) State income taxes, net of Federal income tax benefit 146 127 Other — — Total income tax expense $ 491 $ 452 Deferred tax assets and liabilities resulting from the tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes at December 31, 2020 and 2019 are as follows: 2020 2019 (dollars in thousands) Deferred income tax benefits: Accrued deferred compensation $ 78 $ 87 Allowance for credit losses 143 243 Net operating loss carryforward credits — 153 Accumulated depreciation (16) (13) Other real estate owned 36 — Reserve for unfunded commitments 9 10 Accounting standard 310-20 (117) (103) Right of use asset (171) (205) Lease liability 171 205 Accumulated securities premium accretion 214 215 Net unrealized depreciation on investment securities available for sale (466) — Net unrealized loss on Swaps 261 80 Net deferred income tax benefits $ 142 $ 672 Management has determined that no valuation allowance is required as it believes it is more likely than not that all of the deferred tax assets will be fully realizable in the future. At December 31, 2020 and 2019, management believes there are no uncertain tax positions under ASC Topic 740 Income Taxes. We file income tax returns in the US federal jurisdictions. We are no longer subject to US federal income tax examinations by tax authorities for years before 2017. Income tax expense was $0.49 million and $0.45 million at December 2020 and 2019, respectively.

Pension and Profit Sharing Plan

Pension and Profit Sharing Plans	12 Months Ended
	Dec. 31, 2020
Pension and Profit Sharing Plans
Pension and Profit Sharing Plans	Note 10. Pension and Profit Sharing Plans The Bank has a defined contribution retirement plan qualifying under Section 401(k) of the Internal Revenue Code that is funded through a profit sharing agreement and voluntary employee contributions. Annual contributions, included in employee benefit expense, totaled $451,000 and $362,000 for the years ended December 31, 2020 and 2019, respectively.

Other Benefit Plans

Other Benefit Plans	12 Months Ended
	Dec. 31, 2020
Other Benefit Plans
Other Benefit Plans	Note 11. Other Benefit Plans The Company is the owner and beneficiary of BOLI policies on certain current and former employees. Cash value totaled $8.2 million and $8.0 million at December 31, 2020 and 2019, respectively. Income on insurance investment totaled $0.2 for years ended 2020 and 2019. The Bank has an unfunded grantor trust, as part of a change in control severance plan, covering substantially all employees. Participants in the plan are entitled to cash severance benefits upon termination of employment, for any reason other than just cause, should a “change in control” of the Company occur.

Other Noninterest Expenses

Other Noninterest Expenses	12 Months Ended
	Dec. 31, 2020
Other Noninterest Expenses.
Other Noninterest Expenses	Note 12. Other Noninterest Expenses Other noninterest expenses include the following: Year Ended December 31, 2020 2019 (dollars in thousands) Loan related expenses $ 115 $ 128 Other ATM expenses 77 168 Director, executive and audit committee fees and expenses 168 197 Postage, delivery and courier expenses 39 157 Stationery, printing and supplies 5 66 Office supplies expenses 54 70 Credit report fees 32 55 Dues and subscription fees 95 87 Examination and assessment fees 58 36 Federal Reserve and correspondent bank services 36 43 Foreclosed property expenses 147 65 Liability insurance 64 76 Other 332 367 Total Other Noninterest Expense $ 1,222 $ 1,515

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	Note 13. Commitments and Contingencies Financial instruments: The Bank is a party to financial instruments in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit, which involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated financial statements. Outstanding loan commitments, unused lines of credit and letters of credit are as follows: December 31, 2020 2019 (dollars in thousands) Loan commitments: Other mortgage loans $ 2,229 $ 2,816 Unused lines of credit: Home-equity lines $ 8,672 $ 7,825 Commercial lines 19,982 15,003 Unsecured consumer lines 678 654 $ 29,332 $ 23,482 Letters of credit: $ 1,044 $ 1,059 Loan commitments and lines of credit are agreements to lend to customers as long as there is no violation of any conditions of the contracts. Loan commitments generally have interest rates fixed at current market amounts, fixed expiration dates, and may require payment of a fee. Lines of credit generally have variable interest rates. Many of the loan commitments and lines of credit are expected to expire without being drawn upon; accordingly, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral or other security obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation. Collateral held varies but may include deposits held in financial institutions, U.S. Treasury securities, other marketable securities, accounts receivable, inventory, property and equipment, personal residences, income-producing commercial properties, and land under development. Personal guarantees are also obtained to provide added security for certain commitments. Letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to guarantee the installation of real property improvements and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Bank holds collateral and obtains personal guarantees supporting those commitments for which collateral or other securities is deemed necessary. The Bank’s exposure to credit loss in the event of nonperformance by the customer is the contractual amount of the commitment. Loan commitments, lines of credit, and letters of credit are made on the same terms, including collateral, as outstanding loans. As of December 31, 2020, the Bank has accrued $32,881 as a reserve for losses on unfunded commitments related to these financial instruments with off balance sheet risk, which is included in other liabilities.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity
Stockholders' Equity	Note 14. Stockholders’ Equity Restrictions on Dividends The Company’s ability to pay dividends to its stockholders may be affected by both general corporate law considerations and policies of the Federal Reserve applicable to bank holding companies. Banking regulations limit the amount of dividends that may be paid without prior approval of the Bank’s regulatory agencies. Regulatory approval is required to pay dividends that exceed the Bank’s net profits for the current year plus its retained net profits for the preceding two years. Retained earnings from which dividends may not be paid without prior approval totaled approximately $21.2 million at December 31, 2020 and $21.4 million at December 31, 2019 based on the earnings restrictions and minimum capital ratio requirements noted below. The payment of dividends by any financial institution or its holding company is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. Notwithstanding the availability of funds for dividends, however, the Federal Reserve may prohibit the payment of any dividends by the subsidiary banks if the Federal Reserve determines such payment would constitute an unsafe or unsound practice. Employee Stock Purchase Benefit Plans The Company has a stock-based compensation plan, which is described below. There were no options issued or activity under this plan since August 2007. Employees who have completed one year of service are eligible to participate in the employee stock purchase plan. The number of shares of common stock granted under options will bear a uniform relationship to compensation. The plan allows employees to buy stock under options granted at 85% of the fair market value of the stock on the date of grant. Options are vested when granted and will expire no later than 27 months from the grant date or upon termination of employment. At December 31, 2020, shares of common stock reserved for issuance under the plan totaled 25,739. The Board of Directors may suspend or discontinue the plan at its discretion. Dividend Reinvestment and Stock Purchase Plan The Company’s dividend reinvestment and stock purchase plan allows all participating stockholders the opportunity to receive additional shares of common stock in lieu of cash dividends at 95% of the fair market value on the dividend payment date. During 2020 and 2019, shares of common stock purchased under the plan totaled 14,566 and 13,316, respectively. At December 31, 2020, shares of common stock reserved for issuance under the plan totaled 76,538. The Board of Directors may suspend or discontinue the plan at its discretion. Stockholder Purchase Plan The Company’s stockholder purchase plan allows participating stockholders the option to purchase newly issued shares of common stock. The Board of Directors shall determine the number of shares that may be purchased pursuant to options. Options granted will expire no later than three months from the grant date. Each option will entitle the stockholder to purchase one share of common stock, and will be granted in proportion to stockholder share holdings. At the discretion of the Board of Directors, stockholders may be given the opportunity to purchase unsubscribed shares. There was no activity under this plan since June 23, 2000. At December 31, 2020, shares of common stock reserved for issuance under the plan totaled 183,348. The Board of Directors may suspend or discontinue the plan at its discretion. Under all three plans, options granted, exercised, and expired, shares issued and reserved, and grant prices have been restated for the effects of any stock dividends or stock splits. Regulatory Capital Requirements The Bank’s primary regulator is the Federal Deposit Insurance Corporation (“FDIC”) and is subject to regulation, supervision and regular examination by the Maryland Commissioner of Financial Regulation (the “Commissioner”) and the FDIC. The Company is subject to regulation, examination and supervision by the Federal Reserve Board under the Bank Holding Company Act of 1956, as amended (the “BHCA”), and the regulations of the Federal Reserve Board. On January 1, 2015, the Bank became subject to the new Basel III Capital Rules with full compliance with all of the final rule's requirements phased in over a multi-year schedule, to be fully phased-in by January 1, 2019. However, the new Basel III Capital Rules do not apply to the Company since it is a small bank holding company with less than $1.0 billion in total consolidated assets. In July 2013, the final rules were published establishing a new comprehensive capital framework for U.S. banking organizations. The rules implement the Basel Committee’s December 2010 framework known as “Basel III” for strengthening international capital standards as well as certain provisions of the Dodd-Frank Act. The Basel III Capital Rules substantially revise the risk-based capital requirements applicable to bank holding companies and depository institutions compared to the previous U.S. risk-based capital rules. The Basel III Capital Rules define the components of capital and address other issues affecting the numerator in banking institutions’ regulatory capital ratios. The Basel III Capital Rules also address risk weights and other issues affecting the denominator in banking institutions’ regulatory capital ratios and replace the existing risk-weighting approach with a more risk-sensitive approach. The Basel III Capital Rules also implement the requirements of Section 939A of the Dodd-Frank Act to remove references to credit ratings from the federal banking agencies’ rules. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. The Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting principles. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The rules include a new common equity Tier 1 capital to risk-weighted assets minimum ratio of 4.5%, raise the minimum ratio of Tier 1 capital to risk-weighted assets from 4.0% to 6.0%, require a minimum ratio of Total Capital to risk-weighted assets of 8.0%, and require a minimum Tier 1 leverage ratio of 4.0%. A new capital conservation buffer is also established above the regulatory minimum capital requirements. This capital conservation buffer began its phase-in period beginning January 1, 2016 at 0.625% of risk-weighted assets and will increase each subsequent year by an additional 0.625% until reaching its final level of 2.5% on January 1, 2019. The capital conservation buffer is designed to absorb losses during periods of economic stress and, as detailed above, effectively increases the minimum required risk-weighted capital ratios. Strict eligibility criteria for regulatory capital instruments were also implemented under the final rules. The final rules also revise the definition and calculation of Tier 1 capital, Total Capital, and risk-weighted assets. The Common Equity Tier 1, Tier 1 and Total Capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. Risk-weighted assets are calculated based on regulatory requirements and include total assets, with certain exclusions, allocated by risk weight category, and certain off-balance-sheet items, among other things. The leverage ratio is calculated by dividing Tier 1 capital by adjusted quarterly average total assets, which exclude goodwill and other intangible assets, among other things. As of December 31, 2020 and 2019, the Bank was well-capitalized under the regulatory framework for prompt corrective action under the new Basel III Capital Rules. Management believes, as of December 31, 2020 and 2019, that the Bank met all capital adequacy requirements to which they were subject. The following table presents actual and required capital ratios as of December 31, 2020 and 2019 for the Bank under the Basel III Capital Rules. The minimum required capital amounts presented include the minimum required capital levels as of December 31, 2020 and December 31, 2019 based on the phase-in provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. The Company and Bank are subject to regulatory capital requirements administered by federal banking agencies. Management has determined that the Company’s risk-based capital ratios are not materiality different than the Bank’s and are not reflected in the table below. To Be Well Capitalized To Be Considered Under Prompt Corrective Actual Adequately Capitalized Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2020 Common Equity Tier 1 Capital $ 36,442 13.09 % $ 12,532 4.50 % $ 18,101 6.50 % Total Risk-Based Capital $ 37,951 13.63 % $ 22,278 8.00 % $ 27,848 10.00 % Tier 1 Risk-Based Capital $ 36,442 13.09 % $ 16,709 6.00 % $ 22,278 8.00 % Tier 1 Leverage $ 36,442 9.12 % $ 15,980 4.00 % $ 19,975 5.00 % To Be Well Capitalized To Be Considered Under Prompt Corrective Actual Adequately Capitalized Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019 Common Equity Tier 1 Capital $ 35,693 12.47 % $ 12,878 4.50 % $ 18,602 6.50 % Total Risk-Based Capital $ 37,797 13.21 % $ 22,895 8.00 % $ 28,619 10.00 % Tier 1 Risk-Based Capital $ 35,693 12.47 % $ 17,171 6.00 % $ 22,895 8.00 % Tier 1 Leverage $ 35,693 9.26 % $ 15,414 4.00 % $ 19,268 5.00 %

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2020
EARNINGS PER SHARE
EARNINGS PER SHARE	Note 15. Earnings Per Common Share The calculation of net income per common share for the years ended December 31, 2020 and 2019 are as follows: Year Ended December 31, 2020 2019 Basic earnings per share: Net income $ 1,667,741 $ 1,598,632 Weighted average common shares outstanding 2,835,037 2,821,608 Basic net income per share $ 0.59 $ 0.57 Diluted earnings per share calculations were not required for 2020 and 2019 as there were no options outstanding at December 31, 2020 and 2019.

Fair Values of Financial Instru

Fair Values of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Other Benefit Plans
Fair Values of Financial Instruments	Note 16. Fair Values of Financial Instruments ASC Topic 825, Disclosure about Fair Value of Financial Instruments , requires the disclosure of the estimated fair values of financial instruments. Quoted market prices, where available, are shown as estimates of fair values. Because no quoted market prices are available for a significant part of the Company’s financial instruments, the fair values of such instruments have been derived based on the amount and timing of future cash flows and estimated discount rates. Present value techniques used in estimating the fair value of the Company’s financial instruments are significantly affected by the assumptions used. Fair values derived from using present value techniques are not substantiated by comparisons to independent markets, and in many cases, could not be realized in immediate settlement of the instruments. ASC Topic 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The following table presents the estimated fair value and the related carrying values of the Company’s financial instruments as December 31, 2020 and 2019. Items that are not financial instruments are not included. December 31, 2020 December 31, 2019 (dollars in thousands) Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Cash and due from banks $ 2,117 $ 2,117 $ 2,420 $ 2,420 Interest-bearing deposits in other financial institutions 29,730 29,730 10,017 10,017 Federal funds sold 5,246 5,246 853 853 Investment securities available for sale 114,049 114,049 71,486 71,486 Investments in restricted stock 1,199 1,199 1,437 1,437 Ground rents 140 140 143 143 Loans, less allowance for credit losses 252,296 253,946 282,672 282,583 Accrued interest receivable 1,302 1,302 961 961 Cash value of life insurance 8,181 8,181 8,023 8,023 Financial liabilities: Deposits 349,620 350,666 321,440 300,944 Short-term borrowings 29,912 29,935 25,000 25,386 Accrued interest payable 16 16 100 100 Unrecognized financial instruments: Commitments to extend credit 31,561 31,561 26,297 26,297 Standby letters of credit 1,044 1,044 1,059 1,059 The following table presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments. (dollars in thousands) Carrying Fair December 31, 2020 Amount Value Level 1 Level 2 Level 3 Financial instruments - Assets Cash and cash equivalents $ 37,093 $ 37,093 $ 37,093 — $ — Loans receivable, net 252,296 253,946 — — 253,946 Cash value of life insurance 8,181 8,181 — 8,181 — Financial instruments - Liabilities Deposits 349,620 350,666 217,898 132,768 — Short-term debt 29,912 29,935 — 29,935 — For purposes of the disclosures of estimated fair value, the following assumptions were used. Loans. The estimated fair value for loans is determined by discounting future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Investment securities . Fair values for investment securities are based on quoted market prices, where applicable. When quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Deposits . The estimated fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, savings, NOW accounts and money market accounts, is equal to the amount payable on demand at the reporting date (that is, their carrying amounts). The fair value of certificates of deposit is based on the rates currently offered for deposits of similar maturities. The fair value estimates do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market. Borrowings . The estimated fair value approximates carrying value for short-term borrowings. The fair value of long-term fixed rate borrowings is estimated by discounting future cash flows using current interest rates currently offered for similar financial instruments over the same maturities. Other assets and liabilities. The estimated fair values for cash and due from banks, interest-bearing deposits in other financial institutions, Federal funds sold, accrued interest receivable and payable, and short-term borrowings are considered to approximate cost because of their short-term nature. Other assets and liabilities of the Bank that are not defined as financial instruments are not included in the above disclosures, such as property and equipment. In addition, non-financial instruments typically not recognized in the financial statements nevertheless may have value but are not included in the above disclosures. These include, among other items, the estimated earnings power of core deposit accounts, the trained work force, customer goodwill, and similar items.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
FAIR VALUE
FAIR VALUE	Note 17. Fair Value Measurements The Company follows ASC Topic 820, Fair Value Measurements which provides a framework for measuring and disclosing fair value under generally accepted accounting principles. ASC Topic 820 requires disclosures about the fair value of assets and liabilities recognized in the balance sheet in periods subsequent to initial recognition, whether the measurements are made on a recurring basis or on a nonrecurring basis. ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value. The Fair Value Hierarchy Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets and liabilities. Level 2 – Valuation is based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. In determining the appropriate levels, the Company performs a detailed analysis of assets and liabilities that are subject to ASC Topic 820. The Bank’s securities available for sale and interest rate swaps are the only assets or liabilities subject to fair value measurements on a recurring basis. The Bank may also be required, from time to time, to measure certain other financial and non-financial assets and liabilities at fair value on a non-recurring basis in accordance with GAAP. Fair value measurements on a recurring and non-recurring basis at December 31, 2020 and 2019 are as follows: Fair (dollars in thousands) Level 1 Level 2 Level 3 Value December 31, 2020 Recurring: Securities available for sale U.S. Treasury $ — $ — $ — $ — State and Municipal — 29,413 — 29,413 Mortgaged-backed — 84,636 — 84,636 Interest rate swap — (949) — (949) Non-recurring: Maryland Financial Bank stock — — 3 3 Impaired loans — — 4,893 4,893 OREO — 575 — 575 $ — $ 113,675 $ 4,896 $ 118,571 December 31, 2019 Recurring: Securities available for sale U.S. Treasury $ — $ 500 $ — $ 500 State and Municipal — 12,475 — 12,475 Mortgaged-backed — 58,511 — 58,511 Interest rate swap — (336) — (336) Non-recurring: Maryland Financial Bank stock — — 3 3 Impaired loans — — 4,638 4,638 OREO — 705 — 705 $ — $ 71,855 $ 4,641 $ 76,496 Securities available for sale and interest rate swaps are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Measured on a Non-Recurring Basis: Financial Assets and Liabilities The Bank is predominantly a cash flow lender with real estate serving as collateral on a majority of loans. Loans which are deemed to be impaired and foreclosed real estate assets are primarily valued on a nonrecurring basis at the fair values of the underlying real estate collateral. The Bank determines such fair values from independent appraisals. Based on these appraisals, management has applied a specific valuation allowance allocation of $11,000 and $15,000 in 2020 and 2019, respectively, to the impaired loans, which management considers to be level 3 inputs. Fair Value Measurements We obtain fair values for our impaired loans through a variety of data points and mostly rely on appraisals from independent appraisers. These appraisals do not include an inside inspection of the property as our loan documents do not require the borrower to allow access to the property. Therefore the most significant unobservable inputs is the details of the amenities included within the property and the condition of the property. Further, we cannot always accurately assess the amount of time it takes to gain ownership of our collateral through the foreclosure process and the damage, as well as potential looting, of the property further decreasing our value. We typically get independent appraisals of properties within three months from the time we determine there may be a collateral shortfall from an impaired loan. The appraisals are typically updated every 12 months from the independent appraiser and more frequently if we feel material changes in value may have occurred for this specific property. During interim periods, typically at the end of each calendar quarter, we review other data points such as a comparable from other like properties or changes in tax assessment values. Non-Financial Assets and Non-Financial Liabilities Application of ASC Topic 820 to non-financial assets and non-financial liabilities became effective January 1, 2009. The Corporation has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Certain non-financial assets and non-financial liabilities typically measured at fair value on a non-recurring basis include foreclosed assets (upon initial recognition or subsequent impairment), non-financial assets and non-financial liabilities measured at fair value in the second step of a goodwill impairment test, and intangible assets and other non-financial long-lived assets measured at fair value for impairment assessment. Foreclosed real estate, which are considered to be non-financial assets, have been valued using a market approach. The values were determined using market prices of similar current real estate assets in the same geographical area, which the Bank considers to be level 2 inputs.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2020
REVENUE RECOGNITION
REVENUE RECOGNITION	Note 18. Revenue Recognition On January 1, 2018, the Company adopted ASU No. 2014-09 “Revenue from Contracts with Customers” (Topic 606) and all subsequent ASUs that modified Topic 606. The implementation of the new standard did not have a material impact on the measurement or recognition of revenue; as such, a cumulative effect adjustment to opening retained earnings was not deemed necessary. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under Topic 605. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. Topic 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees and merchant income. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope of Topic 606 are discussed below. Service Charges on Deposit Accounts. Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or at the end of the month through a direct charge to customers’ accounts. Other Noninterest Income. Other noninterest income consists of: fees, exchange, other service charges, safety deposit box rental fees, and other miscellaneous revenue streams. Fees and other service charges are primarily comprised of debit income, ATM fees, merchant services income, and other service charges. Debit card income is primarily comprised of interchange fees earned whenever the Company’s debit cards are processed through card payment networks. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit card transactions, in addition to account management fees. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment.

Parent Company Financial Inform

Parent Company Financial Information	12 Months Ended
	Dec. 31, 2020
Parent Company Financial Information
Parent Company Financial Information	Note 19. Parent Company Financial Information The Balance Sheets, Statements of Income, and Statements of Cash Flows for Glen Burnie Bancorp (Parent Only) are presented below: ___________________________________________Balance Sheets________________________________________ December 31, 2020 2019 (dollars in thousands) Assets Cash $ 111 $ 43 Investment in The Bank of Glen Burnie 36,982 35,637 Total assets $ 37,093 $ 35,680 Liabilities and Stockholders’ Equity Stockholders’ equity: Common stock 2,842 2,827 Surplus 10,640 10,525 Retained earnings 23,071 22,537 Accumulated other comprehensive income (loss), net of benefits 540 (209) Total stockholders’ equity 37,093 35,680 Total liabilities and stockholders’ equity $ 37,093 $ 35,680 __________________________________________Statements of Income___________________________________ Year Ended December 31, 2020 2019 (dollars in thousands) Dividends and distributions from subsidiary $ 1,265 $ 1,070 Other expenses (236) (206) Income before income tax benefit and equity in undistributed net income of subsidiary 1,029 864 Income tax benefit 43 32 Change in undistributed equity of subsidiary 596 703 Net income $ 1,668 $ 1,599 ___________________________________Statements of Cash Flows_______________________________________ Year Ended December 31, 2020 2019 (dollars in thousands) Cash flows from operating activities: Net income $ 1,668 $ 1,599 Adjustments to reconcile net income to net cash provided by operating activities: Decrease (increase) in other assets — 2 Change in undistributed equity of subsidiary (596) (703) Net cash provided by operating activities 1,072 898 Cash flows from financing activities: Proceeds from dividend reinvestment plan 130 138 Dividends paid (1,134) (1,128) Net cash used in financing activities (1,004) (990) (Decrease) increase in cash 68 (92) Cash, beginning of year 43 135 Cash, end of year $ 111 $ 43

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Results of Operations (Unaudited)
Quarterly Results of Operations (Unaudited)	Note 20. Quarterly Results of Operations (Unaudited) The following is a summary of consolidated unaudited quarterly results of operations: __________________________________________2020__________________________________ (dollars in thousands, Three months ended except per share amounts) December 31, September 30, June 30, March 31, Interest income $ 3,485 $ 3,349 $ 3,336 $ 3,499 Interest expense 313 353 398 451 Net interest income 3,172 2,996 2,938 3,048 Provision for credit losses (427) (669) 487 (80) Net securities gains 6 — — — Income before income taxes 712 1,232 (128) 343 Net income 547 949 (96) 268 Net income per share (basic and diluted) $ 0.20 $ 0.33 $ (0.03) $ 0.09 ___________________________________________2019______________________________ (dollars in thousands, Three months ended except per share amounts) December 31, September 30, June 30, March 31, Interest income $ 3,641 $ 3,590 $ 3,574 $ 3,709 Interest expense 461 446 450 570 Net interest income 3,180 3,144 3,124 3,139 Provision for credit losses (179) (139) 30 173 Net securities gains — — — 3 Income before income taxes 676 818 386 171 Net income 539 606 319 135 Net income per share (basic and diluted) $ 0.19 $ 0.21 $ 0.11 $ 0.05

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events
Subsequent Events	Note 21. Subsequent Events The Bank early adopted ASU 2016-13, Financial Instruments - Credit Losses (“ASC 326”) during the first quarter of 2021 based on the application of the modified retrospective method for all financial assets measured at amortized cost primarily loans receivable and off-balance sheet credit exposures. The standard replaced the “incurred loss” approach with an “expected loss” approach known as current expected credit loss (“CECL”). The CECL methodology requires an estimate of the credit losses expected over the life of an exposure and it removes the incurred loss methodology’s threshold that delayed the recognition of a credit loss until it was “probable” a loss event was deemed to be “incurred.” Results for reporting periods beginning after January 1, 2021 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable generally accepted accounting principles. The Company recorded a decrease to retained earnings of $1,140,848 as of January 1, 2021 for the cumulative effect of adopting ASC 326. The estimate of expected credit losses under the CECL methodology is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. Historical loss experience is generally the starting point for estimating expected credit losses. We then consider whether the historical loss experience should be adjusted for asset-specific risk characteristics or current conditions at the reporting date that did not exist over the period from which historical experience was based. Finally, we consider forecasts about future economic conditions or changes in collateral values that are reasonable and supportable. Under ASC 326-30, the Bank is required to use an allowance approach when recognizing credit loss for its Available-For-Sale (“AFS”) debt securities and will replace the quarterly OTTI analysis that is performed (Note 3. Investment Securities). The allowance is measured as the difference between the investment security’s amortized cost basis and the amount expected to be collected over the investment security’s lifetime. Specifically, the length of time the security has been in an unrealized loss position will no longer be used to determine whether a credit loss exists. Impairment must be evaluated at the individual security level during each reporting period, through a comparison of the present value of expected cash flows from the security with the amortized cost basis of the security. Using this approach each quarter, the Bank will record impairment related to credit losses through earnings offset with an allowance for credit losses account.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of presentation	Basis of Presentation The consolidated financial statements include the accounts of Glen Burnie Bancorp, The Bank of Glen Burnie and GBB Properties, Inc., a company engaged in the acquisition and disposition of other real estate. All significant intercompany transactions are eliminated in consolidation and certain reclassifications are made when necessary in order to conform the previous year’s financial statements to the current year’s presentation. In preparing the consolidated financial statements, the Company is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and revenues and expenses during the reporting periods and related disclosures. These estimates that require application of management's subjective or complex judgments often result in the need to make estimates about the effect of matters that are inherently uncertain and may change in future periods. Management has made significant estimates in several areas, including the valuation of certain loans held for investment (Note 4, Loans and Allowance ); allowance for credit losses (Note 4, Loans and Allowance ); valuation of investment securities (Note 3, Investment Securities ); the fair value of financial instruments (Note 16, Fair Value of Financial Instruments ); benefit plan obligations and expenses (Note 10, Pension and Profit Sharing Plans ); and the valuation of deferred tax assets (Note 9, Income Taxes ). Certain amounts in the financial statements from prior periods have been reclassified to conform to the current financial statement presentation. The Parent Only financial statements (see Note 19, Parent Company Financial Information ) of the Company account for the subsidiary using the equity method of accounting.
Investment Securities	Investment Securities We classify investment securities as trading, held to maturity ("HTM"), or available for sale ("AFS") at the date of acquisition. Purchases and sales of securities are generally recorded on a trade-date basis. Investment securities that we might not hold until maturity are classified as AFS and are reported at fair value in the statement of financial condition. Fair value measurement is based upon quoted market prices in active markets, if available. If quoted prices in active markets are not available, fair value is measured using pricing models or other model-based valuation techniques such as the present value of future cash flows, which consider prepayment assumptions and other factors such as credit losses and market liquidity. Unrealized gains and losses are excluded from earnings and reported, net of tax, in other comprehensive income (“OCI”). Purchase premiums and discounts are recognized in interest income using the effective interest method over the life of the securities. Purchase premiums or discounts related to mortgage-backed securities are amortized or accreted using projected prepayment speeds. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. AFS investment securities in unrealized loss positions are evaluated for other-than-temporary impairment (“OTTI”) at least quarterly. For AFS securities, a decline in fair value is considered to be other-than-temporary if the Company does not expect to recover the entire amortized cost basis of the security. Debt securities are classified as HTM if the Company has both the intent and ability to hold those securities to maturity regardless of changes in market conditions, liquidity needs or changes in general economic conditions. These securities are carried at cost adjusted for amortization of purchase premiums and accretion of purchase discounts. Transfers of securities from available for sale to held to maturity are accounted for at fair value as of the date of the transfer. The difference between the fair value and the par value at the date of transfer is considered a premium or discount and is accounted for accordingly. Any unrealized gain or loss at the date of the transfer is reported in OCI, and is amortized over the remaining life of the security as an adjustment of yield in a manner consistent with the amortization of any premium or discount, and will offset or mitigate the effect on interest income of the amortization of the premium or discount for that held to maturity security. Impairment may result from credit deterioration of the issuer or collateral underlying the security. In performing an assessment of recoverability, all relevant information is considered, including the length of time and extent to which fair value has been less than the amortized cost basis, the cause of the price decline, credit performance of the issuer and underlying collateral, and recoveries or further declines in fair value subsequent to the balance sheet date. For debt securities, the Company measures and recognizes OTTI losses through earnings if (1) the Company has the intent to sell the security or (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. In these circumstances, the impairment loss is equal to the full difference between the amortized cost basis and the fair value of the security. For securities that are considered other-than-temporarily-impaired that the Company has the intent and ability to hold in an unrealized loss position, the OTTI write-down is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to other factors, which is recognized as a component of OCI. For equity securities, the Company recognizes OTTI losses through earnings if the Company intends to sell the security. The Company also considers other relevant factors, including its intent and ability to retain the security for a period of time sufficient to allow for any anticipated recovery in market value, and whether evidence exists to support a realizable value equal to or greater than the carrying value. Any impairment loss on an equity security is equal to the full difference between the amortized cost basis and the fair value of the security.
Federal Home Loan Bank Stock	Federal Home Loan Bank Stock As a borrower from the Federal Home Loan Bank of Atlanta ("FHLB"), the Bank is required to purchase an amount of FHLB stock based on our outstanding borrowings with the FHLB. This stock is used as collateral to secure the borrowings from the FHLB and is accounted for as a cost-method investment. FHLB stock is an equity interest that does not necessarily have a readily determinable fair value for purposes of the ASC Topic 320, Accounting for Certain Investments in Debt and Equity Securities , because its ownership is restricted and lacks a market. FHLB stock can be sold back only at its par value of $100 per share and only to the FHLB or another member institution.
Other Securities	Other Securities Maryland Financial Bank Dissolution Trust ("the Trust"), is a "liquidating trust" for U.S. federal income tax purposes. The sole purpose of the Trust is to liquidate the remaining assets, resolve the remaining liabilities, and to distribute the net proceeds to the Trust's beneficiaries. This an equity interest that does not necessarily have a readily determinable fair value for purposes of the ASC Topic 320, Accounting for Certain Investments in Debt and Equity Securities , because its ownership is restricted and lacks a market. This stock is accounted for as a cost-method investment.
Loans Held for Investment	Loans Held for Investment Loans held for investment are reported at the principal amount outstanding, net of cumulative charge-offs, interest applied to principal (for loans accounted for using the cost recovery method), unamortized net deferred loan origination fees and costs and unamortized premiums or discounts on purchased loans. Interest on loans is accrued and recognized as interest income at the contractual rate of interest. When a loan is designated as held for investment, the intent is to hold these loans for the foreseeable future or until maturity or pay off. From time to time, the Company will originate loans to facilitate the sale of other real estate owned (OREO). Such loans are accounted for using the installment method and any gain on sale is deferred. The Bank financed no sales of OREO for 2020 or 2019. Loan Fees and Costs Loan origination fees, commitment fees, direct loan origination costs and purchase premiums and discounts on loans are deferred and recognized as an adjustment of yield, to be amortized to interest income over the contractual term of the loan. Nonaccrual Loans Loans are placed on nonaccrual status when the full and timely collection of principal and interest is doubtful, generally when the loan becomes 90 days or more past due for principal or interest payment or if part of the principal balance has been charged off. When a loan is placed on nonaccrual status all interest previously accrued but not collected is reversed against current period interest income. All payments received on nonaccrual loans are accounted for using the cost recovery method. Under the cost recovery method, all cash collected is applied to first reduce the principal balance. A loan may be returned to accrual status if all delinquent principal and interest payments are brought current and the collectability of the remaining principal and interest payments in accordance with the loan agreement is reasonably assured. Loans that are well-secured and in the process of collection are maintained on accrual status, even if they are 90 days or more past due. Impaired Loans A loan is considered impaired when it is probable that all contractual principal and interest payments due will not be collected in accordance with the terms of the loan agreement. Factors considered by management in determining whether a loan is impaired include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. The carrying value of impaired loans is based on the present value of the loan’s expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral. Troubled Debt Restructurings A loan is accounted for and reported as a troubled debt restructuring (“TDR”) when, for economic or legal reasons, we grant a concession to a borrower experiencing financial difficulty that we would not otherwise consider. Management strives to identify borrowers in financial difficulty early and works with them to modify to more affordable terms before their loan reaches nonaccrual status. These modified terms may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. A restructuring that results in only an insignificant delay in payment is not considered a concession. A delay may be considered insignificant if the payments subject to the delay are insignificant relative to the unpaid principal or collateral value and the contractual amount due, or the delay in timing of the restructured payment period is insignificant relative to the frequency of payments, the debt's original contractual maturity or original expected duration. TDRs are designated as impaired because interest and principal payments will not be received in accordance with the original contract terms. TDRs that are performing and on accrual status as of the date of the modification remain on accrual status. TDRs that are nonperforming as of the date of modification generally remain as nonaccrual until the prospect of future payments in accordance with the modified loan agreement is reasonably assured, generally demonstrated when the borrower maintains compliance with the restructured terms for a predetermined period, normally at least six months. TDRs with temporary below-market concessions remain designated as a TDR and impaired regardless of the accrual or performance status until the loan is paid off. However, if the TDR loan has been modified in a subsequent restructure with market terms and the borrower is not currently experiencing financial difficulty, then the loan may be de-designated as a TDR.
Allowance for Loan Losses	Allowance for Loan Losses Credit quality within the loan portfolio is continuously monitored by management and is reflected within the allowance for loan losses. The allowance for loan losses is maintained at a level that, in management's judgment, is appropriate to cover losses inherent within the Company’s loan portfolio, including unfunded credit commitments, as of the balance sheet date. The allowance for loan losses, as reported in our consolidated statements of financial condition, is adjusted by a provision for loan losses, which is recognized in earnings, and reduced by the charge-off of loan amounts, net of recoveries. The allowance for loan losses is maintained at a level believed adequate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans and actual loss experience, current economic events in specific industries and geographical areas, including unemployment levels, and other pertinent factors, including regulatory guidance and general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, and consideration of current economic trends, all of which may be susceptible to significant change. Loan losses are charged off against the allowance, while recoveries of amounts previously charged off are credited to the allowance. A provision for loan losses is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least quarterly and more often if deemed necessary. Loan Loss Measurement Allowance levels are influenced by loan volumes, internal asset quality ratings, delinquency status, historic loss experience and other conditions influencing loss expectations, such as economic conditions. The methodology for evaluating the adequacy of the allowance for loan losses has two basic components: First, an asset-specific component involving the identification of impaired loans and the measurement of impairment for each individual loan identified; and second, a formula-based component for estimating probable loan principal losses for all other loans. Impaired Loans The specific credit allocations are based on regular analysis of all loans over a fixed-dollar amount where the internal credit rating is at or below a predetermined classification. When a loan is identified as impaired, impairment is measured based on net realizable value, and the recorded investment balance of the loan. For impaired loans, we recognize impairment if we determine that the net realizable value of the impaired loan is less than the recorded investment of the loan (net of previous charge-offs and deferred loan fees and costs), except when the sole remaining source of collection is the underlying collateral. In these cases impairment is measured as the difference between the recorded investment balance of the loan and the fair value of the collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale (rather than only on the operation) of the collateral. Once the impairment amount is determined, an asset-specific allowance is provided that is equal to the calculated impairment and included in the allowance for loan losses. If the calculated impairment is determined to be permanent or not recoverable, the impairment will be charged off. Factors considered by management in determining if impairment is permanent or not recoverable include whether management judges the loan to be uncollectible, repayment is deemed to be protracted beyond reasonable time frames or the loss becomes evident owing to the borrower’s lack of assets. Estimate of Probable Loan Losses In estimating the formula-based component of the allowance for loan losses, loans are segregated into loan classes based on product types and similar risk characteristics or areas of risk concentration. Loans of similar type and purpose, not meeting the criteria for an asset-specific allocation, are aggregated into loan classes, and a reserve factor is applied to each loan class based on the historical loss experience of that class and six qualitative factors. Qualitative factors are expressed in basis points and are adjusted downward or upward based on management’s judgment as to the potential loss impact of each qualitative factor to a particular loan class at the date of the analysis. To determine the amount of allowance for credit losses, the Bank uses the current year’s loss data and the previous four years of loss data for each homogenous portfolio on a non-weighted basis. The current year’s data is annualized to a twelve-month basis to determine a loss percentage. The average for each portfolio’s historical losses are then adjusted by six qualitative factors applied to each of the loan classes. The historical loss analysis is performed quarterly and loss factors are updated monthly based on actual experience.
Reserve for Unfunded Commitments	Reserve for Unfunded Commitments The Company maintains a separate allowance for losses on unfunded loan commitments, which is included in accrued expenses and other liabilities on the consolidated statements of financial condition. The reserve for unfunded commitments (off-balance sheet financial instruments) is established through a provision for losses — unfunded commitments, the changes of which are recorded in noninterest expense. The reserve for unfunded commitments is an amount that management believes will be adequate to absorb probable losses inherent in existing commitments, including unused portions of revolving lines of credit and other loans, standby letters of credit, and unused deposit account overdraft privileges. The reserve for unfunded commitments is based on evaluations of the collectability, and prior loss experience of unfunded commitments. The evaluations take into consideration such factors as changes in the nature and size of the loan portfolio, overall loan portfolio quality, loan concentrations, specific problem loans and related unfunded commitments, and current economic conditions that may affect the borrower’s or depositor’s ability to pay.
Other Real Estate Owned	Other Real Estate Owned Other real estate owned ("OREO") represents real estate acquired in partial or total satisfaction of debts previously contracted with the Company, generally through the foreclosure of loans. These properties are initially recorded at the net realizable value (fair value of collateral less estimated costs to sell). Upon transfer of a loan to OREO, an appraisal is obtained and any excess of the loan balance over the net realizable value is charged against the allowance for loan losses. Subsequent declines in net realizable value identified from the ongoing analysis of such properties as well as gains and losses realized from the sale of OREO are recognized in current period earnings within noninterest expense as foreclosed property expense. The net realizable value of these assets is reviewed and updated as circumstances warrant. Loans transferred to OREO through foreclosure proceedings totaled $575,000 for the year ended December 31, 2020. There were no loans transferred to OREO for the year ended December 31, 2020.
Premises and Equipment	Premises and Equipment Bank premises and equipment are stated at cost less accumulated depreciation and depreciated over the estimated useful life of the related asset or the term of the lease using the straight-line method. Expenditures for improvements that extend the life of an asset are capitalized and depreciated over the asset’s remaining useful life. Gains or losses realized on the disposition of premises and equipment are reflected in the consolidated statements of income. Expenditures for repairs and maintenance are charged to occupancy and equipment expense as incurred. Computer software is recorded at cost and amortized over three to five years. Management periodically evaluates the carrying value of long-lived assets and certain identifiable intangibles, including goodwill, furniture and equipment and leasehold improvements for impairment.
Income Taxes	Income Taxes Our income tax expense, and deferred tax assets and liabilities reflect management’s best assessment of estimated current and future taxes to be paid. Significant judgments and estimates are required in determining the consolidated income tax expense. Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes and are reflected as discrete tax items in the Company’s tax provision. The Company records net deferred tax assets to the extent it is believed that these assets will more likely than not be realized. In making this determination, the Company considers all available evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and recent financial operations. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with a taxing authority. The Company files a consolidated federal income tax return and separate company state tax returns. For a more detailed description of income taxes see Note 9, Income Taxes of the Notes to Consolidated Financial Statements.
Interest Rate Swap Agreements	Interest Rate Swap Agreements For asset/liability management purposes, the Company periodically uses interest rate swap agreements to hedge various exposures or to modify interest rate characteristics of various balance sheet accounts. All interest rate swap agreements are recorded at fair value. The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to its likelihood of effectiveness as a hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Fair Value Measurement	Fair Value Measurement The term "fair value" is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. 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 Company’s approach is to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. The degree of management judgment involved in estimating the fair value of a financial instrument or other asset is dependent upon the availability of quoted market prices or observable market value inputs for internal valuation models used for estimating fair value. For financial instruments that are actively traded in the marketplace or whose values are based on readily available market data, little judgment is necessary when estimating the instrument’s fair value. When observable market prices and data are not readily available, significant management judgment often is necessary to estimate fair value. In those cases, different assumptions could result in significant changes in valuation. See Note 17, Fair Value Measurement.
Cash and Cash Equivalents	Cash and Cash Equivalents The Bank has included cash and due from banks, interest-bearing deposits in other financial institutions, and federal funds sold as cash and cash equivalents for the purpose of reporting cash flows. The carrying value of cash and cash equivalents approximates its fair value due to its short-term nature.
Earnings per share	Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income available to common shareholders by the weighted average common shares outstanding during the period. Diluted EPS is computed by dividing net income available to common shareholders by the weighted average common shares outstanding, plus the effect of common stock equivalents (for example, stock options computed using the treasury stock method).
Advertising Expense	Advertising Expense Advertising costs, which we consider to be media and marketing materials, are expensed as incurred. We incurred $0.1 million in advertising expense during the years ended December 31, 2020 and 2019.
Bank Owned Life Insurance	Bank Owned Life Insurance The Company has purchased bank owned life insurance policies on certain current and former employees as a means to generate tax-exempt income which is used to offset a portion of current and future employee benefit costs. Bank owned life insurance is recorded at the cash surrender value of the policies. Changes in the cash surrender value are included in noninterest income.
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) The Company records unrealized gains and losses on available for sale securities and cash flow hedges in accumulated other comprehensive income, net of taxes. Unrealized gains and losses on available for sale securities and cash flow hedges are reclassified into earnings as the gains or losses are realized upon sale of the securities and determination of the ineffective portion of the hedge. The credit component of unrealized losses on available for sale securities that are determined to be other-than-temporary impaired are reclassified into earnings at the time the determination is made.
Recent Accounting Pronouncements	Recent Accounting Pronouncements and Developments ASU 2016‑02, “Leases (Topic 842).” In February 2016, the FASB issued ASU No. 2016-02. This guidance provides that lessees will be required to recognize the following for all operating leases (with the exception of short-term leases): 1) a lease liability, which is the present value of a lessee's obligation to make lease payments, and 2) a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. Lessor accounting under the new guidance remains largely unchanged as it is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The Company adopted the provisions of ASU No. 2016-02 on January 1, 2019 and elected several practical expedients made available by the FASB. Specifically, the Company elected the transition practical expedient to not recast comparative periods upon the adoption of the new guidance. In addition, the Company elected the package of practical expedients which among other things, requires no reassessment of whether existing contracts are or contain leases as well as no reassessment of lease classification for existing leases and the practical expedient which permits the Company to not separate nonlease components from lease components in determining the consideration in the lease agreement when the Company is a lessee and a lessor. The Company identified the primary lease agreements in scope of this new guidance as those relating to branch premises. As a result, the Company recognized a lease liability of $0.7 million and a related right-of-use asset of $0.7 million on its consolidated balance sheet on January 1, 2019. ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326)" ("ASU 2016-13") requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. ASU 2016-13, as updated, was adopted on January 1, 2021. Through the date of adoption, we held working group meetings that included individuals from various functional areas relevant to the implementation of CECL. Additionally, an assessment of our primary modeling tool was completed, which enabled us to complete parallel runs utilizing second and third quarter 2020 data, during which preliminary operational procedures and internal controls were designed. Management's working group also validated the appropriateness of, among other things, management’s decisions regarding portfolio segmentation, life of loan considerations, and reasonable and supportable forecasting methodology. Based on our fourth quarter parallel run, review of the portfolio, including the composition, characteristics and quality of the underlying loans, and the prevailing economic conditions and forecasts as of the adoption date, we believe that adoption of ASU 2016-13 will result in a material increase of approximately 107% to our allowance for credit losses. This is consistent with our expectations given that our current portfolio is of shorter duration and commercially focused. ASU 2017‑08, “Receivables – Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities.” ASU 2017‑08 shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not change the accounting for purchased callable debt securities held at a discount; the discount continues to be amortized to maturity. ASU No. 2017‑08 was effective for interim and annual reporting periods beginning after December 15, 2018. The guidance calls for a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. ASU 2017-08 was effective for the Company on January 1, 2019 and did not have a significant impact on our financial statements. ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” This standard better aligns an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. To meet that objective, the amendments expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedge instruments and the hedged item in the financial statements. Adoption for this ASU is required for fiscal years and interim periods beginning after December 15, 2018 and early adoption was permitted. ASU 2017-12 was effective for the Company on January 1, 2019 and did not have a significant impact on our financial statements. ASU No. 2018-11, “Leases - Targeted Improvements.” ASU No. 2018-11 provides entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU No. 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2019 for the Company). The Company elected both transition options. ASU 2018-11 did not have a material impact on the Company’s Consolidated Financial Statements. ASU No. 2018-13, “Fair Value Measurement (Topic 820).” ASU 2018-13 eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to elect early adoption the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. As ASU No. 2018-13 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Statements. In August, 2018, the FASB issued ASU 2018-14, “Compensation - Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20).” ASU 2018-14 amends and modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans. The amendments in this update remove disclosures that no longer are considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. ASU 2018-14 will be effective for us on January 1, 2021, with early adoption permitted, and is not expected to have a significant impact on our financial statements. ASU No. 2019-01, Leases (Topic 842): “Codification Improvements.” On March 5, 2019, the FASB issued ASU 2019-01, Leases (Topic 842): Codification Improvements, which amends certain aspects of the Board’s new leasing standard, ASU 2016-02 to address two lessor implementation issues and clarify when lessees and lessors are exempt from a certain interim disclosure requirement associated with adopting the new leases standard, Topic 842, Leases. ASU 2019-01 aligns the guidance for fair value of the underlying asset by lessors that are not manufacturers or dealers in Topic 842 with that of existing guidance. As a result, the fair value of the underlying asset at lease commencement is its cost, reflecting any volume or trade discounts that may apply. However, if there has been a significant lapse of time between when the underlying asset is acquired and when the lease commences, the definition of fair value (in Topic 820, Fair Value Measurement) should be applied. The ASU also requires lessors within the scope of Topic 942, Financial Services—Depository and Lending, to present all “principal payments received under leases” within investing activities. Finally, the ASU exempts both lessees and lessors from having to provide certain interim disclosures in the fiscal year in which a company adopts the new leases standard. As ASU 2019-01 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Statements. ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments” was issued in April 2019 by the FASB. With respect to Topic 815, Derivatives and Hedging, ASU 2019-04 clarifies that the reclassification of a debt security from held-to-maturity (“HTM”) to available-for-sale (“AFS”) under the transition guidance in ASU 2017-12 would not (1) call into question the classification of other HTM securities, (2) be required to actually designate any reclassified security in a last-of-layer hedge, or (3) be restricted from selling any reclassified security. As part of the transition of ASU 2019-04, entities may reclassify securities that would qualify for designation as the hedged item in a last-of-layer hedging relationship from HTM to AFS; however, entities that already made such a reclassification upon their adoption of ASU 2017-12 are precluded from reclassifying additional securities. All of the Company’s securities were AFS at December 31, 2019. ASU 2019-05, “Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief” was issued on May 15, 2019. The ASU amends the transition guidance in the new credit losses standard, ASC 326, Financial Instruments—Credit Losses. The amendment provides entities with an option upon adoption of ASC 326-20, to irrevocably elect the fair value option for certain financial instruments that are both: (a) within the scope of ASC 326-20 (the current expected credit loss or “CECL” model) and (b) eligible for the fair value option in ASC 825-10, Financial Instruments—Overall. This election should be applied on an instrument-by-instrument basis for eligible financial assets. The fair value option election is not applicable to debt securities classified as available for sale or held to maturity. In addition, the amendment does not provide the option to discontinue or “unelect” the fair value option on instruments when an entity previously elected to apply it. If the fair value option is elected, an entity would recognize the difference between the carrying amount and the fair value of the financial instrument as part of the cumulative effect adjustment associated with the adoption of ASC 326. Subsequently, the financial instrument would be measured at fair value with changes in fair value reported in current earnings. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The Company is continuing to evaluate the extent of the potential impact upon adoption to the Company’s financial statements In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes (Topic 740).” The amendments in this Update are meant to simplify the accounting for income taxes by removing certain exceptions to GAAP. The amendments also improve consistent application of and simplify GAAP by modifying and/or revising the accounting for certain income tax transactions and by clarifying certain existing codification. The amendments in the update are effective for public business entities for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. The Company is currently assessing the impact of adoption of this guidance, but does not expect the update to have a material impact upon its financial position and results of operations. ASU 2020-01, “Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) – Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815 (a Consensus of the Emerging Issues Task Force).” In January 2020, the FASB issued ASU 2020-01, which clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the fair value measurement alternative. The ASU will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company does not expect adoption to have a material impact on the consolidated financial statements. ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU provides temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations. ASU No. 2020-08, “Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs.” The amendments in this update clarify the guidance for the reevaluation of whether a callable debt security’s amortized cost basis exceeds the amount repayable by the issuer at the next call date. The amendments in this update are effective beginning after December 15, 2020. The adoption of these amendments will not have a material effect on our consolidated financial statements. ASU No. 2020-10, “Codification Improvements.” The ASU improves reporting consistency by amending the Codification to include all disclosure guidance in the appropriate disclosure sections. It clarifies the application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The amendments are effective for annual periods beginning after December 15, 2020, and early application is permitted. The Company does not expect the guidance to have a material impact on the Company's consolidated financial statements.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2020
INVESTMENT SECURITIES
Schedule of summary of investment securities	At December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value Collaterized mortgage obligations $ 24,261 $ 396 $ (14) $ 24,643 Agency mortgage-backed securities 26,072 886 (10) 26,948 Municipal securities 28,675 740 (2) 29,413 U.S. Government agency securities 33,346 9 (310) 33,045 U.S. Treasury securities — — — — Total securities available for sale $ 112,354 $ 2,031 $ (336) $ 114,049 At December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value Collaterized mortgage obligations $ 27,618 $ 52 $ (187) $ 27,483 Agency mortgage-backed securities 27,823 149 (135) 27,837 Municipal securities 12,301 191 (17) 12,475 U.S. Government agency securities 3,195 1 (5) 3,191 U.S. Treasury securities 500 — — 500 Total securities available for sale $ 71,437 $ 393 $ (344) $ 71,486
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time in continuous unrealized loss position	The following tables show the fair value and gross unrealized losses associated with the investment portfolio, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2020 and 2019: At December 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Loss Value Loss Value Loss Collaterized mortgage obligations $ 201 $ — $ 1,188 $ (14) $ 1,389 $ (14) Agency mortgage-backed securities — — 566 (10) 566 (10) Municipal securities 851 (2) — — 851 (2) U.S. Government agency securities 24,160 (308) 481 (2) 24,641 (310) $ 25,212 $ (310) $ 2,235 $ (26) $ 27,447 $ (336) At December 31, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Loss Value Loss Value Loss Collaterized mortgage obligations $ 11,792 $ (65) $ 7,330 $ (122) $ 19,122 $ (187) Agency mortgage-backed securities 4,577 (20) 10,918 (115) 15,495 (135) Municipal securities 1,806 (7) 864 (10) 2,670 (17) U.S. Government agency securities 591 (5) — — 591 (5) $ 18,766 $ (97) $ 19,112 $ (247) $ 37,878 $ (344)
Schedule of contractual maturities of investment securities	At December 31, 2020 Amortized Fair (dollars in thousands) Cost Value Due within one year $ 456 $ 461 Due over one to five years 1,380 1,409 Due over five to ten years 483 481 Due over ten years 59,702 60,107 Collaterized mortgage obligations 24,261 24,643 Agency mortgage-backed securities 26,072 26,948 Total securities available for sale $ 112,354 $ 114,049

Loans and Allowance (Tables)

Loans and Allowance (Tables)	12 Months Ended
	Dec. 31, 2020
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES
Schedule of major categories of loans	December 31, (dollars in thousands) 2020 2019 Consumer $ 11,548 $ 12,076 Residential real estate 75,653 81,033 Indirect 74,644 102,384 Commercial 14,121 11,907 Commercial SBA PPP 9,912 — Construction 900 3,317 Commercial real estate 66,994 74,021 Total loans receivable 253,772 284,738 Allowance for loan losses (1,476) (2,066) Net loans receivable $ 252,296 $ 282,672
Schedule of amount due from directors and other related parties	December 31, (dollars in thousands) 2020 2019 Balance at beginning of year $ 371 $ 504 Additions 368 582 Repayments (463) (715) Balance at end of year $ 276 $ 371
Schedule of allowance for loan loss and the unearned income on loans	December 31, 2020 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Balance, beginning of year $ 122 $ 589 $ 917 $ 38 $ — $ 11 $ 389 $ 2,066 Charge-offs — — (392) — — — — (392) Recoveries 9 266 196 20 — — — 491 Provision for loan losses (8) (424) (147) 34 — (8) (136) (689) Balance, end of year $ 123 $ 431 $ 574 $ 92 $ — $ 3 $ 253 $ 1,476 Individually evaluated for impairment: Balance in allowance $ 11 $ — $ — $ — $ — $ — $ — $ 11 Related loan balance 39 132 — — — — 4,493 4,664 Collectively evaluated for impairment: Balance in allowance $ 112 $ 431 $ 574 $ 92 $ — $ 3 $ 253 $ 1,465 Related loan balance 11,509 75,521 74,644 14,121 9,912 900 62,501 249,108 December 31, 2019 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Balance, beginning of year $ 161 $ 864 $ 988 $ 241 $ — $ 4 $ 283 $ 2,541 Charge-offs (69) (16) (504) (27) — — — (616) Recoveries 16 5 225 10 — — — 256 Provision for loan losses 14 (264) 208 (186) — 7 106 (115) Balance, end of year $ 122 $ 589 $ 917 $ 38 $ — $ 11 $ 389 $ 2,066 Individually evaluated for impairment: Balance in allowance $ 15 $ — $ — $ — $ — $ — $ — $ 15 Related loan balance 86 631 — — — — 3,680 4,397 Collectively evaluated for impairment: Balance in allowance $ 107 $ 589 $ 917 $ 38 $ — $ 11 $ 389 $ 2,051 Related loan balance 11,990 80,402 102,384 11,907 — 3,317 70,341 280,341
Schedule of non accrual loans	The f ollowing table rolls forward the Company’s activity for nonaccrual loans during the years 2020 and 2019: Residential Commercial Consumer Real Estate Indirect Commercial Real Estate Totals (dollars in thousands) December 31, 2018 186 956 116 27 662 1,947 Transfers into nonaccrual 135 571 702 86 2,746 4,240 Loans paid down/payoffs (55) (782) (76) (86) (269) (1,268) Loans returned to accrual status (88) — (133) — — (221) Loans charged off (41) (17) (486) (27) — (571) December 31, 2019 137 728 123 — 3,139 4,127 Transfers into nonaccrual 64 — 551 — 1,619 2,234 Loans paid down/payoffs (67) (557) (104) — (152) (880) Loans returned to accrual status — — (17) — (577) (594) Loans charged off — — (375) — — (375) December 31, 2020 134 171 178 — 4,029 4,512
Schedule of risk ratings of loans by categories of loans	December 31, 2020 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Pass $ 11,475 $ 75,482 $ 74,467 $ 14,121 $ 9,912 $ 900 $ 62,501 $ 248,857 Special mention — — — — — — — — Substandard 73 171 61 — — — 4,493 4,798 Doubtful — — 116 — — — — 116 Loss — — — — — — — — $ 11,548 $ 75,653 $ 74,644 $ 14,121 $ 9,912 $ 900 $ 66,994 $ 253,772 Nonaccrual 134 171 178 — — 4,029 4,512 Troubled debt restructures 39 — — — — — — 39 Number of TDRs accounts 1 — — — — — — 1 Non-performing TDRs 39 — — — — — — 39 Number of non-performing TDR accounts 1 — — — — — — 1 December 31, 2019 Residential Commercial Commercial (dollars in thousands) Consumer Real Estate Indirect Commercial SBA PPP Construction Real Estate Total Pass $ 11,939 $ 80,305 $ 102,261 $ 11,907 $ — $ 3,317 $ 70,341 $ 280,070 Special mention — — — — — — — — Substandard 137 728 44 — — — 3,680 4,589 Doubtful — — 79 — — — — 79 Loss — — — — — — — — $ 12,076 $ 81,033 $ 102,384 $ 11,907 $ — $ 3,317 $ 74,021 $ 284,738 Nonaccrual 137 728 123 — — — 3,139 4,127 Troubled debt restructures 41 — — — — — — 41 Number of TDRs accounts 1 — — — — — — 1 Non-performing TDRs 41 — — — — — — 41 Number of non-performing TDR accounts 1 — — — — — — 1
Schedule of current, past due, and nonaccrual loans by categories of loans	n 90 Days or 30-89 Days More and December 31, 2020 Current Past Due Still Accruing Nonaccrual Total (dollars in thousands) Consumer $ 11,414 $ — $ — $ 134 $ 11,548 Residential Real Estate 73,715 1,749 18 171 75,653 Indirect 74,014 452 — 178 74,644 Commercial 14,121 — — — 14,121 Commercial SBA PPP 9,912 — — — 9,912 Construction 900 — — — 900 Commercial Real Estate 62,965 — — 4,029 66,994 $ 247,040 $ 2,201 $ 18 $ 4,512 $ 253,772 90 Days or 30-89 Days More and December 31, 2019 Current Past Due Still Accruing Nonaccrual Total (dollars in thousands) Consumer $ 11,865 $ 74 $ — $ 137 $ 12,076 Residential Real Estate 80,192 92 21 728 81,033 Indirect 101,605 656 — 123 102,384 Commercial 11,907 — — — 11,907 Commercial SBA PPP — — — — — Construction 3,317 — — — 3,317 Commercial Real Estate 70,882 — — 3,139 74,021 $ 279,768 $ 822 $ 21 $ 4,127 $ 284,738
Schedule of impaired financing receivables	Unpaid Interest Average December 31, 2020 Recorded Principal Income Specific Recorded (dollars in thousands) Investment Balance Recognized Reserve Investment Impaired loans with specific reserves: Consumer $ 28 $ 39 $ 2 $ 11 $ 50 Residential Real Estate — — — — — Indirect — — — — — Commercial — — — — — Construction — — — — — Commercial Real Estate — — — — — Total impaired loans with specific reserves $ 28 $ 39 $ 2 $ 11 $ 50 Impaired loans with no specific reserve: Consumer $ 34 $ 34 $ 4 n/a $ 44 Residential Real Estate 171 322 — n/a 544 Indirect 178 178 10 n/a 226 Commercial — — — n/a — Construction — — — n/a — Commercial Real Estate 4,493 4,493 185 n/a 4,315 Total impaired loans with no specific reserve $ 4,876 $ 5,027 $ 199 — $ 5,129 Unpaid Interest Average December 31, 2019 Recorded Principal Income Specific Recorded (dollars in thousands) Investment Balance Recognized Reserve Investment Impaired loans with specific reserves: Consumer $ 26 $ 41 $ 2 $ 15 $ 50 Residential Real Estate — — — — — Indirect — — — — — Commercial — — — — — Construction — — — — — Commercial Real Estate — — — — — Total impaired loans with specific reserves $ 26 $ 41 $ 2 $ 15 $ 50 Impaired loans with no specific reserve: Consumer $ 96 $ 96 $ 8 n/a $ 122 Residential Real Estate 728 1,497 14 n/a 1,928 Indirect 123 123 6 n/a — Commercial — — — n/a — Construction — — — n/a — Commercial Real Estate 3,680 3,680 81 n/a 3,845 Total impaired loans with no specific reserve $ 4,627 $ 5,396 $ 109 — $ 5,895

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Premises and Equipment
Schedule of summary of premises and equipment	Useful December 31, lives 2020 2019 (dollars in thousands) Land $ 685 $ 685 Buildings 5-50 years 6,672 6,555 Equipment and fixtures 5-30 years 8,055 7,596 Construction in progress 99 103 Operating Lease Assets 623 745 16,134 15,684 Accumulated depreciation (12,281) (11,923) $ 3,853 $ 3,761
Schedule of future minimum payments of the Bank?s operating leases	Future minimum payments of the Bank’s operating leases as of December 31, 2020 are as follows: Year ending December 31, Amount (dollars in thousands) 2021 $ 185 2022 153 2023 156 2024 161 2025 3 Thereafter 2 Total $ 660

Federal Home Loan Bank and Sh_2

Federal Home Loan Bank and Short-term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Federal Home Loan Bank and Short-term Borrowings
Schedule of swaps designated as cash flow hedges	At December 31, 2020 2019 Unrealized Unrealized Notional Pay Receive Assets/ Loss Assets/ Loss (dollars in thousands) Amount Rate Rate Term Liabilities AOCI Liabilities AOCI Interest rate swap $ 10,000 2.105 % 3M LIBOR 11/2017 - 10/2022 $ (387) $ (281) $ (129) $ (94) Interest rate 5,000 2.235 % 3M LIBOR 7/2018 - 7/2023 (281) (204) (102) (75) Interest rate 5,000 2.246 % 3M LIBOR 8/2018 - 8/2023 (281) (204) (105) (77) Total $ 20,000 $ (949) $ (689) $ (336) $ (246)
Schedule of total interest expense recorded on swap transactions	Years Ended December 31, (dollars in thousands) Bank Position 2020 2019 Interest rate swap on FHLB advance Pay fixed/receive variable $ (113) $ 28 Interest rate swap on FHLB advance Pay fixed/receive variable (63) 9 Interest rate swap on FHLB advance Pay fixed/receive variable (65) 11 Total $ (241) $ 48

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2020
Deposits
Schedule of major classifications of interest-bearing deposits	The following table summarizes the major classifications of deposit balances as of the dates indicated: December 31, 2020 2019 (dollars in thousands) Noninterest-bearing deposits $ $ Interest-bearing deposits: Interest-bearing checking 32,601 32,171 Money Market 19,077 17,253 Savings 97,036 82,845 Time deposits, $100,000 or more 28,270 34,736 Time deposits below $100,000 40,010 47,277 Total interest- bearing deposits 216,994 214,282 Total Deposits $ 349,620 $ 321,440
Schedule of interest expense on deposit	2020 2019 (dollars in thousands) Interest-bearing checking $ 9 $ 8 Money Market 9 10 Savings 60 57 Time deposits, $100,000 or more 440 622 Time deposits below $100,000 525 652 Total Interest Expense $ 1,043 $ 1,349
Schedule of scheduled maturities of time deposits	(dollars in thousands) Amount Maturing in: 2021 $ 37,252 2022 10,722 2023 5,743 2024 9,039 2025 4,172 2026 and thereafter 1,352 Total Time Deposits $ 68,280

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Taxes
Schedule of components of income tax expense	2020 2019 (dollars in thousands) Current income tax expense: Federal $ 89 $ — State 157 119 Total current tax expense 246 119 Deferred income tax expense: Federal 217 291 State 28 42 Total deferred tax expense 245 333 Total Income tax expense $ 491 $ 452
Schedule of reconciliation of income tax expense	2020 2019 (dollars in thousands) Income tax expense at federal statutory rate $ 453 $ 431 (Decrease) increase resulting from: Tax-exempt income (75) (72) Bank owned life insurance (33) (34) State income taxes, net of Federal income tax benefit 146 127 Other — — Total income tax expense $ 491 $ 452
Schedule of components of the net deferred income tax benefits	2020 2019 (dollars in thousands) Deferred income tax benefits: Accrued deferred compensation $ 78 $ 87 Allowance for credit losses 143 243 Net operating loss carryforward credits — 153 Accumulated depreciation (16) (13) Other real estate owned 36 — Reserve for unfunded commitments 9 10 Accounting standard 310-20 (117) (103) Right of use asset (171) (205) Lease liability 171 205 Accumulated securities premium accretion 214 215 Net unrealized depreciation on investment securities available for sale (466) — Net unrealized loss on Swaps 261 80 Net deferred income tax benefits $ 142 $ 672

Other Noninterest Expenses (Tab

Other Noninterest Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Other Noninterest Expenses.
Schedule Of Other Operating Cost and Expense, By Component [Table Text Block]	Year Ended December 31, 2020 2019 (dollars in thousands) Loan related expenses $ 115 $ 128 Other ATM expenses 77 168 Director, executive and audit committee fees and expenses 168 197 Postage, delivery and courier expenses 39 157 Stationery, printing and supplies 5 66 Office supplies expenses 54 70 Credit report fees 32 55 Dues and subscription fees 95 87 Examination and assessment fees 58 36 Federal Reserve and correspondent bank services 36 43 Foreclosed property expenses 147 65 Liability insurance 64 76 Other 332 367 Total Other Noninterest Expense $ 1,222 $ 1,515

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies
Schedule of outstanding loan commitments, unused lines of credit and letters of credit	Outstanding loan commitments, unused lines of credit and letters of credit are as follows: December 31, 2020 2019 (dollars in thousands) Loan commitments: Other mortgage loans $ 2,229 $ 2,816 Unused lines of credit: Home-equity lines $ 8,672 $ 7,825 Commercial lines 19,982 15,003 Unsecured consumer lines 678 654 $ 29,332 $ 23,482 Letters of credit: $ 1,044 $ 1,059

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity
Schedule of comparison of capital with minimum requirements	To Be Well Capitalized To Be Considered Under Prompt Corrective Actual Adequately Capitalized Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2020 Common Equity Tier 1 Capital $ 36,442 13.09 % $ 12,532 4.50 % $ 18,101 6.50 % Total Risk-Based Capital $ 37,951 13.63 % $ 22,278 8.00 % $ 27,848 10.00 % Tier 1 Risk-Based Capital $ 36,442 13.09 % $ 16,709 6.00 % $ 22,278 8.00 % Tier 1 Leverage $ 36,442 9.12 % $ 15,980 4.00 % $ 19,975 5.00 % To Be Well Capitalized To Be Considered Under Prompt Corrective Actual Adequately Capitalized Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019 Common Equity Tier 1 Capital $ 35,693 12.47 % $ 12,878 4.50 % $ 18,602 6.50 % Total Risk-Based Capital $ 37,797 13.21 % $ 22,895 8.00 % $ 28,619 10.00 % Tier 1 Risk-Based Capital $ 35,693 12.47 % $ 17,171 6.00 % $ 22,895 8.00 % Tier 1 Leverage $ 35,693 9.26 % $ 15,414 4.00 % $ 19,268 5.00 %

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
EARNINGS PER SHARE
Schedule of earnings per common share	Year Ended December 31, 2020 2019 Basic earnings per share: Net income $ 1,667,741 $ 1,598,632 Weighted average common shares outstanding 2,835,037 2,821,608 Basic net income per share $ 0.59 $ 0.57

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Values Of Financial Instruments [Abstract]
Schedule of estimated fair values of financial instruments	December 31, 2020 December 31, 2019 (dollars in thousands) Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Cash and due from banks $ 2,117 $ 2,117 $ 2,420 $ 2,420 Interest-bearing deposits in other financial institutions 29,730 29,730 10,017 10,017 Federal funds sold 5,246 5,246 853 853 Investment securities available for sale 114,049 114,049 71,486 71,486 Investments in restricted stock 1,199 1,199 1,437 1,437 Ground rents 140 140 143 143 Loans, less allowance for credit losses 252,296 253,946 282,672 282,583 Accrued interest receivable 1,302 1,302 961 961 Cash value of life insurance 8,181 8,181 8,023 8,023 Financial liabilities: Deposits 349,620 350,666 321,440 300,944 Short-term borrowings 29,912 29,935 25,000 25,386 Accrued interest payable 16 16 100 100 Unrecognized financial instruments: Commitments to extend credit 31,561 31,561 26,297 26,297 Standby letters of credit 1,044 1,044 1,059 1,059
Schedule of fair value hierarchy of financial instruments	(dollars in thousands) Carrying Fair December 31, 2020 Amount Value Level 1 Level 2 Level 3 Financial instruments - Assets Cash and cash equivalents $ 37,093 $ 37,093 $ 37,093 — $ — Loans receivable, net 252,296 253,946 — — 253,946 Cash value of life insurance 8,181 8,181 — 8,181 — Financial instruments - Liabilities Deposits 349,620 350,666 217,898 132,768 — Short-term debt 29,912 29,935 — 29,935 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
FAIR VALUE
Schedule of fair value measurements on a recurring and non-recurring basis	Fair (dollars in thousands) Level 1 Level 2 Level 3 Value December 31, 2020 Recurring: Securities available for sale U.S. Treasury $ — $ — $ — $ — State and Municipal — 29,413 — 29,413 Mortgaged-backed — 84,636 — 84,636 Interest rate swap — (949) — (949) Non-recurring: Maryland Financial Bank stock — — 3 3 Impaired loans — — 4,893 4,893 OREO — 575 — 575 $ — $ 113,675 $ 4,896 $ 118,571 December 31, 2019 Recurring: Securities available for sale U.S. Treasury $ — $ 500 $ — $ 500 State and Municipal — 12,475 — 12,475 Mortgaged-backed — 58,511 — 58,511 Interest rate swap — (336) — (336) Non-recurring: Maryland Financial Bank stock — — 3 3 Impaired loans — — 4,638 4,638 OREO — 705 — 705 $ — $ 71,855 $ 4,641 $ 76,496

Parent Company Financial Info_2

Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2020
BASIS OF PRESENTATION
Schedule of balance sheets statement	___________________________________________Balance Sheets________________________________________ December 31, 2020 2019 (dollars in thousands) Assets Cash $ 111 $ 43 Investment in The Bank of Glen Burnie 36,982 35,637 Total assets $ 37,093 $ 35,680 Liabilities and Stockholders’ Equity Stockholders’ equity: Common stock 2,842 2,827 Surplus 10,640 10,525 Retained earnings 23,071 22,537 Accumulated other comprehensive income (loss), net of benefits 540 (209) Total stockholders’ equity 37,093 35,680 Total liabilities and stockholders’ equity $ 37,093 $ 35,680
Schedule of income statement	__________________________________________Statements of Income___________________________________ Year Ended December 31, 2020 2019 (dollars in thousands) Dividends and distributions from subsidiary $ 1,265 $ 1,070 Other expenses (236) (206) Income before income tax benefit and equity in undistributed net income of subsidiary 1,029 864 Income tax benefit 43 32 Change in undistributed equity of subsidiary 596 703 Net income $ 1,668 $ 1,599
Schedule of cash flow statement	___________________________________Statements of Cash Flows_______________________________________ Year Ended December 31, 2020 2019 (dollars in thousands) Cash flows from operating activities: Net income $ 1,668 $ 1,599 Adjustments to reconcile net income to net cash provided by operating activities: Decrease (increase) in other assets — 2 Change in undistributed equity of subsidiary (596) (703) Net cash provided by operating activities 1,072 898 Cash flows from financing activities: Proceeds from dividend reinvestment plan 130 138 Dividends paid (1,134) (1,128) Net cash used in financing activities (1,004) (990) (Decrease) increase in cash 68 (92) Cash, beginning of year 43 135 Cash, end of year $ 111 $ 43

Quarterly Results of Operatio_2

Quarterly Results of Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Results of Operations (Unaudited)
Schedule of summary of consolidated unaudited quarterly results of operations	(dollars in thousands, Three months ended except per share amounts) December 31, September 30, June 30, March 31, Interest income $ 3,485 $ 3,349 $ 3,336 $ 3,499 Interest expense 313 353 398 451 Net interest income 3,172 2,996 2,938 3,048 Provision for credit losses (427) (669) 487 (80) Net securities gains 6 — — — Income before income taxes 712 1,232 (128) 343 Net income 547 949 (96) 268 Net income per share (basic and diluted) $ 0.20 $ 0.33 $ (0.03) $ 0.09 ___________________________________________2019______________________________ (dollars in thousands, Three months ended except per share amounts) December 31, September 30, June 30, March 31, Interest income $ 3,641 $ 3,590 $ 3,574 $ 3,709 Interest expense 461 446 450 570 Net interest income 3,180 3,144 3,124 3,139 Provision for credit losses (179) (139) 30 173 Net securities gains — — — 3 Income before income taxes 676 818 386 171 Net income 539 606 319 135 Net income per share (basic and diluted) $ 0.19 $ 0.21 $ 0.11 $ 0.05

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)	Jun. 30, 2020USD ($)loan	May 31, 2020USD ($)loan	Jan. 01, 2019USD ($)
Accounting Policies [Line Items]
Number of loans with deferred payments due to COVID | loan			225
Amount of loan principal deferred due to COVID			$ 39,800
Amount of loan principal and interest deferred due to COVID			$ 598,800
Total loans	$ 253,772	$ 284,738
FHLB stock sold back at par value | $ / shares	$ 100
Loans transfer to OREO	$ 0
Sale of OREO	0	0
Real estate acquired through foreclosure	$ 575	$ 705
Federal Tax Rate	21.00%	21.00%
Advertising and marketing related expenses	$ 88	$ 107
Lease, Practical Expedients, Package [true false]	true
Right-of-use asset	$ 623	745
Proceeds from Sale and Maturity of Available-for-sale Securities	$ 26,323	$ 32,584
ASU 2016-02
Accounting Policies [Line Items]
Lease liability					$ 700
Right-of-use asset					$ 700
Computer Software, Intangible Asset [Member] | Minimum
Accounting Policies [Line Items]
Intangible assets amortization period	3 years
Computer Software, Intangible Asset [Member] | Maximum
Accounting Policies [Line Items]
Intangible assets amortization period	5 years
Commercial SBA PPP
Accounting Policies [Line Items]
Total loans				$ 17,400
Number of loans | loan				133

Restrictions on Cash and Amou_2

Restrictions on Cash and Amounts Due From Banks (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Restrictions on Cash and Amounts Due from Banks
Deposit liabilities reserves average	$ 0.4	$ 1.5

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Market Value of Securities Available for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investment Securities
Amortized Cost	$ 112,354	$ 71,437
Gross Unrealized Gains	2,031	393
Gross Unrealized Losses	(336)	(344)
Fair Value	114,049	71,486
Collateralized mortgage obligations
Investment Securities
Amortized Cost	24,261	27,618
Gross Unrealized Gains	396	52
Gross Unrealized Losses	(14)	(187)
Fair Value	24,643	27,483
Agency mortgage-backed securities
Investment Securities
Amortized Cost	26,072	27,823
Gross Unrealized Gains	886	149
Gross Unrealized Losses	(10)	(135)
Fair Value	26,948	27,837
Municipal securities
Investment Securities
Amortized Cost	28,675	12,301
Gross Unrealized Gains	740	191
Gross Unrealized Losses	(2)	(17)
Fair Value	29,413	12,475
U.S. Government agency securities
Investment Securities
Amortized Cost	33,346	3,195
Gross Unrealized Gains	9	1
Gross Unrealized Losses	(310)	(5)
Fair Value	$ 33,045	3,191
U.S. Treasury securities
Investment Securities
Amortized Cost		500
Fair Value		$ 500

Investment Securities - Gross U

Investment Securities - Gross Unrealized Losses and Fair Value Aggregated by Investment Category and Length of Time in Continuous Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2020USD ($)security	Dec. 31, 2019USD ($)
Investment Securities
Less than 12 months Fair Value	$ 25,212	$ 18,766
Less than 12 months Unrealized Loss	(310)	(97)
12 months or more Fair Value	2,235	19,112
12 months or more Unrealized Loss	(26)	(247)
Total Fair Value	27,447	37,878
Total Unrealized Loss	(336)	(344)
Collateralized mortgage obligations
Investment Securities
Less than 12 months Fair Value	201	11,792
Less than 12 months Unrealized Loss		(65)
12 months or more Fair Value	1,188	7,330
12 months or more Unrealized Loss	(14)	(122)
Total Fair Value	1,389	19,122
Total Unrealized Loss	$ (14)	(187)
Number of securities continuous unrealized loss position more than twelve months | security	4
Agency mortgage-backed securities
Investment Securities
Less than 12 months Fair Value		4,577
Less than 12 months Unrealized Loss		(20)
12 months or more Fair Value	$ 566	10,918
12 months or more Unrealized Loss	(10)	(115)
Total Fair Value	566	15,495
Total Unrealized Loss	$ (10)	(135)
Number of securities continuous unrealized loss position more than twelve months | security	2
Municipal securities
Investment Securities
Less than 12 months Fair Value	$ 851	1,806
Less than 12 months Unrealized Loss	(2)	(7)
12 months or more Fair Value		864
12 months or more Unrealized Loss		(10)
Total Fair Value	851	2,670
Total Unrealized Loss	$ (2)	(17)
Number of securities continuous unrealized loss position more than twelve months | security	1
U.S. Government agency securities
Investment Securities
Less than 12 months Fair Value	$ 24,160	591
Less than 12 months Unrealized Loss	(308)	(5)
12 months or more Fair Value	481
12 months or more Unrealized Loss	(2)
Total Fair Value	24,641	591
Total Unrealized Loss	$ (310)	$ (5)
Number of securities continuous unrealized loss position more than twelve months | security	42

Investment Securities - Contrac

Investment Securities - Contractual Maturities of Investment Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available for Sale Amortized Cost
Due within one year	$ 456
Due over one to five years	1,380
Due over five to ten years	483
Due over ten years	59,702
Amortized Cost	112,354	$ 71,437
Available for Sale Fair Value
Due within one year	461
Due over one to five years	1,409
Due over five to ten years	481
Due over ten years	60,107
Fair Value	$ 114,049	$ 71,486

Investment Securities (Details)

Investment Securities (Details)	12 Months Ended
	Dec. 31, 2020USD ($)security$ / sharesshares	Dec. 31, 2019USD ($)securityshares	Sep. 30, 2020USD ($)	Dec. 31, 2018USD ($)shares
Schedule of Available-for-sale Securities
Impairment charges to securities	$ 0	$ 0
Common stock, shares outstanding | shares	2,842,040	2,827,473
Total Unrealized Loss	$ 336,000	$ 344,000
Proceeds from sales of available for sale debt securities		21,400,000
Realized gain (loss) on sale	6,000,000	3,000
Interest rate swap
Schedule of Available-for-sale Securities
Investment securities pledged as collateral	$ 900,000	800,000
Maryland Financial Bank
Schedule of Available-for-sale Securities
Liquidating distributions (per share) | $ / shares	$ 0.53
Common stock, shares outstanding | shares				5,000
Common stock, value outstanding		2,650,000		$ 5,000,000
Total Unrealized Loss		$ 2,350,000	$ 25,000	$ 25,000
Private Label Mortgage-Backed securities
Schedule of Available-for-sale Securities
Number of investment securities portfolio held | security	0	0
Collateralized mortgage obligations
Schedule of Available-for-sale Securities
Number of investment securities portfolio held | security	0	0
Number of securities continuous unrealized loss position more than twelve months | security	4
Total Unrealized Loss	$ 14,000	$ 187,000
Agency mortgage-backed securities
Schedule of Available-for-sale Securities
Number of securities continuous unrealized loss position more than twelve months | security	2
Total Unrealized Loss	$ 10,000	135,000
Municipal securities
Schedule of Available-for-sale Securities
Number of securities continuous unrealized loss position more than twelve months | security	1
Total Unrealized Loss	$ 2,000	17,000
U.S. Government agency securities
Schedule of Available-for-sale Securities
Number of securities continuous unrealized loss position more than twelve months | security	42
Total Unrealized Loss	$ 310,000	$ 5,000

Loans and Allowance - Major Cat

Loans and Allowance - Major Categories of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	$ 253,772	$ 284,738
Less: Allowance for loan losses	(1,476)	(2,066)
Loans, net	252,296	282,672
Consumer
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	11,548	12,076
Residential real estate
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	75,653	81,033
Indirect
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	74,644	102,384
Commercial
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	14,121	11,907
Commercial | Real Estate Loan
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	66,994	74,021
Commercial | SBA PPP Loan
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	9,912
Construction
Schedule of Available-for-sale Securities [Line Items]
Loans, net of deferred fees and costs	$ 900	$ 3,317

Loans and Allowance - Related p

Loans and Allowance - Related parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance at beginning of year	$ 371	$ 504
Additions	368	582
Repayments	(463)	(715)
Balance at end of year	$ 276	$ 371

Loans and Allowance - Allowance

Loans and Allowance - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year				$ 2,066				$ 2,541	$ 2,066	$ 2,541
Charged off									(392)	(616)
Recoveries									491	256
Provision for loan losses	$ (427)	$ (669)	$ 487	(80)	$ (179)	$ (139)	$ 30	173	(689)	(115)
Balance, end of year	1,476				2,066				1,476	2,066
Individually evaluated for impairment:
Individually evaluated for impairment, Balance in allowance	11				15				11	15
Individually evaluated for impairment, Related loan balance	4,664				4,397				4,664	4,397
Collectively evaluated for impairment:
Collectively evaluated for impairment, Balance in allowance	1,465				2,051				1,465	2,051
Collectively evaluated for impairment, Related loan balance	249,108				280,341				249,108	280,341
Consumer
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year				122				161	122	161
Charged off										(69)
Recoveries									9	16
Provision for loan losses									(8)	14
Balance, end of year	123				122				123	122
Individually evaluated for impairment:
Individually evaluated for impairment, Balance in allowance	11				15				11	15
Individually evaluated for impairment, Related loan balance	39				86				39	86
Collectively evaluated for impairment:
Collectively evaluated for impairment, Balance in allowance	112				107				112	107
Collectively evaluated for impairment, Related loan balance	11,509				11,990				11,509	11,990
Residential real estate
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year				589				864	589	864
Charged off										(16)
Recoveries									266	5
Provision for loan losses									(424)	(264)
Balance, end of year	431				589				431	589
Individually evaluated for impairment:
Individually evaluated for impairment, Related loan balance	132				631				132	631
Collectively evaluated for impairment:
Collectively evaluated for impairment, Balance in allowance	431				589				431	589
Collectively evaluated for impairment, Related loan balance	75,521				80,402				75,521	80,402
Indirect
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year				917				988	917	988
Charged off									(392)	(504)
Recoveries									196	225
Provision for loan losses									(147)	208
Balance, end of year	574				917				574	917
Collectively evaluated for impairment:
Collectively evaluated for impairment, Balance in allowance	574				917				574	917
Collectively evaluated for impairment, Related loan balance	74,644				102,384				74,644	102,384
Commercial
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year				38				241	38	241
Charged off										(27)
Recoveries									20	10
Provision for loan losses									34	(186)
Balance, end of year	92				38				92	38
Collectively evaluated for impairment:
Collectively evaluated for impairment, Balance in allowance	92				38				92	38
Collectively evaluated for impairment, Related loan balance	14,121				11,907				14,121	11,907
Commercial | Real Estate Loan
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year				389				283	389	283
Provision for loan losses									(136)	106
Balance, end of year	253				389				253	389
Individually evaluated for impairment:
Individually evaluated for impairment, Related loan balance	4,493				3,680				4,493	3,680
Collectively evaluated for impairment:
Collectively evaluated for impairment, Balance in allowance	253				389				253	389
Collectively evaluated for impairment, Related loan balance	62,501				70,341				62,501	70,341
Commercial | SBA PPP Loan
Collectively evaluated for impairment:
Collectively evaluated for impairment, Related loan balance	9,912								9,912
Construction
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year				$ 11				$ 4	11	4
Provision for loan losses									(8)	7
Balance, end of year	3				11				3	11
Collectively evaluated for impairment:
Collectively evaluated for impairment, Balance in allowance	3				11				3	11
Collectively evaluated for impairment, Related loan balance	$ 900				$ 3,317				$ 900	$ 3,317

Loans and Allowance - Non-accru

Loans and Allowance - Non-accrual loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable Nonaccrual Status [Roll Forward]
Balance	$ 4,127	$ 1,947
Transfer into non-accrual	2,234	4,240
Loans paid down/payoffs	(880)	(1,268)
Loans return to accrual status	(594)	(221)
Loans charged off	(375)	(571)
Balance	4,512	4,127
Consumer
Financing Receivable Nonaccrual Status [Roll Forward]
Balance	137	186
Transfer into non-accrual	64	135
Loans paid down/payoffs	(67)	(55)
Loans return to accrual status		(88)
Loans charged off		(41)
Balance	134	137
Residential Real estate
Financing Receivable Nonaccrual Status [Roll Forward]
Balance	728	956
Transfer into non-accrual		571
Loans paid down/payoffs	(557)	(782)
Loans charged off		(17)
Balance	171	728
Indirect
Financing Receivable Nonaccrual Status [Roll Forward]
Balance	123	116
Transfer into non-accrual	551	702
Loans paid down/payoffs	(104)	(76)
Loans return to accrual status	(17)	(133)
Loans charged off	(375)	(486)
Balance	178	123
Commercial
Financing Receivable Nonaccrual Status [Roll Forward]
Balance		27
Transfer into non-accrual		86
Loans paid down/payoffs		(86)
Loans charged off		(27)
Commercial | Real Estate Loan
Financing Receivable Nonaccrual Status [Roll Forward]
Balance	3,139	662
Transfer into non-accrual	1,619	2,746
Loans paid down/payoffs	(152)	(269)
Loans return to accrual status	(577)
Balance	$ 4,029	$ 3,139

Loans and Allowance - Risk Rati

Loans and Allowance - Risk Ratings of Loans by Categories of Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)contract	Dec. 31, 2019USD ($)contract	Dec. 31, 2018USD ($)
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 253,772	$ 284,738
Non-accrual	4,512	4,127	$ 1,947
Troubled debt restructures	$ 39	$ 41
Number of TDRs accounts | contract	1	1
Non-performing TDRs
Financing Receivable, Recorded Investment [Line Items]
Troubled debt restructures	$ 39	$ 41
Number of TDRs accounts | contract	1	1
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 248,857	$ 280,070
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	4,798	4,589
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	116	79
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total loans	11,548	12,076
Non-accrual	134	137	186
Troubled debt restructures	$ 39	$ 41
Number of TDRs accounts | contract	1	1
Consumer | Non-performing TDRs
Financing Receivable, Recorded Investment [Line Items]
Troubled debt restructures	$ 39	$ 41
Number of TDRs accounts | contract	1	1
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 11,475	$ 11,939
Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	73	137
Residential Real estate
Financing Receivable, Recorded Investment [Line Items]
Total loans	75,653	81,033
Non-accrual	171	728	956
Residential Real estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	75,482	80,305
Residential Real estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	171	728
Indirect
Financing Receivable, Recorded Investment [Line Items]
Total loans	74,644	102,384
Non-accrual	178	123	116
Indirect | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	74,467	102,261
Indirect | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	61	44
Indirect | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	116	79
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total loans	14,121	11,907
Non-accrual			27
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	14,121	11,907
Commercial | Real Estate Loan
Financing Receivable, Recorded Investment [Line Items]
Total loans	66,994	74,021
Non-accrual	4,029	3,139	$ 662
Commercial | Real Estate Loan | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	62,501	70,341
Commercial | Real Estate Loan | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	4,493	3,680
Commercial | SBA PPP Loan
Financing Receivable, Recorded Investment [Line Items]
Total loans	9,912
Commercial | SBA PPP Loan | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	9,912
Construction
Financing Receivable, Recorded Investment [Line Items]
Total loans	900	3,317
Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 900	$ 3,317

Loans and Allowance - Current,

Loans and Allowance - Current, past due, and non-accrual loans by categories of loans and restructured loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 247,040	$ 279,768
Non-accrual	4,512	4,127	$ 1,947
Total	253,772	284,738
30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	2,201	822
Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	18	21
Residential Real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	73,715	80,192
Non-accrual	171	728	956
Total	75,653	81,033
Residential Real estate | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,749	92
Residential Real estate | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	18	21
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	11,414	11,865
Non-accrual	134	137	186
Total	11,548	12,076
Consumer | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due		74
Indirect
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	74,014	101,605
Non-accrual	178	123	116
Total	74,644	102,384
Indirect | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	452	656
Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	14,121	11,907
Non-accrual			27
Total	14,121	11,907
Commercial | Real Estate Loan
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	62,965	70,882
Non-accrual	4,029	3,139	$ 662
Total	66,994	74,021
Commercial | SBA PPP Loan
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	9,912
Total	9,912
Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	900	3,317
Total	$ 900	$ 3,317

Loans and Allowance - Impaired

Loans and Allowance - Impaired financing receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Recorded Investment with specific reserves	$ 28	$ 26
Unpaid Principal Balance with specific reserves	39	41
Interest Income Recognized with specific reserves	2	2
Specific Reserve with specific reserves	11	15
Recorded Investment	50	50
Recorded Investment with no specific reserve	4,876	4,627
Unpaid Principal Balance with no specific reserve	5,027	5,396
Interest Income Recognized with no specific reserve	199	109
Specific Reserve	11,000,000	15,000,000
Average Recorded Investment with no specific reserve	5,129	5,895
Consumer
Financing Receivable, Impaired [Line Items]
Recorded Investment with specific reserves	28	26
Unpaid Principal Balance with specific reserves	39	41
Interest Income Recognized with specific reserves	2	2
Specific Reserve with specific reserves	11	15
Recorded Investment	50	50
Recorded Investment with no specific reserve	34	96
Unpaid Principal Balance with no specific reserve	34	96
Interest Income Recognized with no specific reserve	4	8
Average Recorded Investment with no specific reserve	44	122
Residential real estate
Financing Receivable, Impaired [Line Items]
Recorded Investment with no specific reserve	171	728
Unpaid Principal Balance with no specific reserve	322	1,497
Interest Income Recognized with no specific reserve		14
Average Recorded Investment with no specific reserve	544	1,928
Indirect
Financing Receivable, Impaired [Line Items]
Recorded Investment with no specific reserve	178	123
Unpaid Principal Balance with no specific reserve	178	123
Interest Income Recognized with no specific reserve	10	6
Average Recorded Investment with no specific reserve	226
Commercial | Real Estate Loan
Financing Receivable, Impaired [Line Items]
Recorded Investment with no specific reserve	4,493	3,680
Unpaid Principal Balance with no specific reserve	4,493	3,680
Interest Income Recognized with no specific reserve	185	81
Average Recorded Investment with no specific reserve	$ 4,315	$ 3,845

Loans and Allowance - (Details)

Loans and Allowance - (Details)	12 Months Ended
	Dec. 31, 2020USD ($)contractloan	Dec. 31, 2019USD ($)contract
Schedule of Available-for-sale Securities [Line Items]
Number of new loans modified as TDRs | loan	0
Number of TDRs accounts | contract	1	1
Amount of recorded investment in new troubled debt restructurings, totaled	$ 39,000	$ 41,000
Amount of interest that would have been accrued from non performing financial receivable, totaled	$ 200,000	$ 100,000
Non-performing TDRs
Schedule of Available-for-sale Securities [Line Items]
Number of TDRs accounts | contract	1	1
Consumer
Schedule of Available-for-sale Securities [Line Items]
Number of TDRs accounts | contract	1	1
Amount of recorded investment in new troubled debt restructurings, totaled	$ 39,000	$ 41,000
Amount of consumer and indirect loans, outstanding	38,711
Amount of consumer and indirect loans, specific reserves	$ 10,710
Number Of Loan Consumer And Indirect Loans | contract	1

Premises and Equipment - Summar

Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Land	$ 685	$ 685
Buildings	6,672	6,555
Equipment and fixtures	8,055	7,596
Construction in progress	99	103
Operating Lease Assets	623	745
Property plant and equipment gross	16,134	15,684
Accumulated depreciation	(12,281)	(11,923)
Property plant and equipment net	$ 3,853	$ 3,761
Building [Member] | Minimum
Property, Plant and Equipment [Line Items]
Useful lives	5 years
Building [Member] | Maximum
Property, Plant and Equipment [Line Items]
Useful lives	50 years
Equipment [Member] | Minimum
Property, Plant and Equipment [Line Items]
Useful lives	5 years
Equipment [Member] | Maximum
Property, Plant and Equipment [Line Items]
Useful lives	30 years

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 300,000	$ 300,000
Amortization of software and intangible assets	100,000	100,000
Rent expense	173,593	165,459
Rental income	65,383	$ 45,082
Minimum lease obligations through December 2024	161,000
Severna Park Branch [Member]
Property, Plant and Equipment [Line Items]
Minimum lease obligations through December 2024	33,000
Linthicum Branch [Member]
Property, Plant and Equipment [Line Items]
Minimum lease obligations through December 2024	$ 144,424

Premises and Equipment - Future

Premises and Equipment - Future Minimum Payment (Details) $ in Thousands	Dec. 31, 2020USD ($)
Premises and Equipment
2021	$ 185
2022	153
2023	156
2024	161
2025	3
Thereafter	2
Total	$ 660

Federal Home Loan Bank and Sh_3

Federal Home Loan Bank and Short-term Borrowings (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)itemshares	Dec. 31, 2019USD ($)
Short-term Debt [Line Items]
Federal home loan bank shares owned | shares	11,965
Percentage of investment to be maintained on total assets	0.09%
Amount of dollar cap on total assets	$ 15,000
Additional percentage of investment to be maintained on total advances	4.25%
Percentage of credit available on total assets	25.00%
Amount of credit available on total assets	$ 107,700
Short term advances	20,000
Average short-term borrowings	24,300	$ 25,600
Total loans	$ 253,772	284,738
Number of financial institution lending credit facility | item	2
Commercial
Short-term Debt [Line Items]
Total loans	$ 14,121	$ 11,907
Commercial | SBA PPP Loan
Short-term Debt [Line Items]
Debt instrument, interest rate, stated percentage	0.35%
Total loans	$ 9,912
Convertible advances maturing on July 23, 2019 | Federal Home Loan Bank of Atlanta [Member]
Short-term Debt [Line Items]
Convertible debt	$ 5,000
Debt instrument, maturity date	Dec. 27, 2021
Debt instrument, interest rate, stated percentage	0.39%
Convertible advances maturing on August 22, 2019 | Federal Home Loan Bank of Atlanta [Member]
Short-term Debt [Line Items]
Convertible debt	$ 5,000
Debt instrument, maturity date	Dec. 24, 2021
Debt instrument, interest rate, stated percentage	0.34%
Convertible advances maturing on November 1, 2019 | Federal Home Loan Bank of Atlanta [Member]
Short-term Debt [Line Items]
Convertible debt	$ 10,000
Debt instrument, maturity date	Dec. 31, 2021
Debt instrument, interest rate, stated percentage	0.34%
Financial Bank One [Member]
Short-term Debt [Line Items]
Line of credit, amount available for borrowing	$ 9,000
Financial Bank Two [Member]
Short-term Debt [Line Items]
Line of credit, amount available for borrowing	8,000
Financial Bank Three [Member]
Short-term Debt [Line Items]
Line of credit, amount available for borrowing	$ 10,600
Minimum
Short-term Debt [Line Items]
Weighted average interest rate	1.94%
Maximum
Short-term Debt [Line Items]
Weighted average interest rate		2.26%

Federal Home Loan Bank and Sh_4

Federal Home Loan Bank and Short-term Borrowings - Derivatives (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2019contract	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
Derivative [Line Items]
Number of interest rate swap designated as cash flow | item		3
Derivative, Notional Amount		$ 20,000,000
Term		5 years
Number of derivative become effect in july and august 2018 | contract	2
Assets/ Liabilities		$ (949,000)	$ (336,000)
Unrealized Gain (Loss) AOCI		(689,000)	(246,000)
Interest expense recorded on these swap transactions		(241,000)	48,000
Fair value of cash or investment securities pledged as collateral		949,000	750,000
Interest Rate Contract [Member]
Derivative [Line Items]
Gain (Loss) on interest rate cash flow hedge ineffectiveness		0
Interest Rate Swap On FHLB Advance [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 10,000,000
Pay Rate		2.105%
Receive Rate		3M LIBOR
Assets/ Liabilities		$ (387,000)	(129,000)
Unrealized Gain (Loss) AOCI		(281,000)	(94,000)
Interest expense recorded on these swap transactions		(113,000)	28,000
Interest rate swap on FHLB advance maturing on July 2023
Derivative [Line Items]
Derivative, Notional Amount		$ 5,000,000
Pay Rate		2.235%
Receive Rate		3M LIBOR
Assets/ Liabilities		$ (281,000)	(102,000)
Unrealized Gain (Loss) AOCI		(204,000)	(75,000)
Iinterest rate swap on FHLB advance maturing on August 2023
Derivative [Line Items]
Derivative, Notional Amount		$ 5,000,000
Pay Rate		2.246%
Receive Rate		3M LIBOR
Assets/ Liabilities		$ (281,000)	(105,000)
Unrealized Gain (Loss) AOCI		(204,000)	(77,000)
Forward Starting Interest Rate Swap Advance [Member]
Derivative [Line Items]
Interest expense recorded on these swap transactions		(63,000)	9,000
Forward Starting Interest Rate Swap Advance [Member]
Derivative [Line Items]
Interest expense recorded on these swap transactions		$ (65,000)	$ 11,000

Long-term Borrowings - Summary

Long-term Borrowings - Summary of long-term borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long-term Borrowings
Long-term borrowings	$ 0	$ 0

Deposits - Summary of major cla

Deposits - Summary of major classifications of Interest-bearing deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deposits
Noninterest-bearing deposits	$ 132,626	$ 107,158
Interest-bearing checking	32,601	32,171
Money Market	19,077	17,253
Savings	97,036	82,845
Time deposits, $100,000 or more	28,270	34,736
Time deposits below $100,000	40,010	47,277
Total interest- bearing deposits	216,994	214,282
Total Deposits	$ 349,620	$ 321,440

Deposits - Summary of interest

Deposits - Summary of interest expense on deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Deposits
Interest-bearing checking	$ 9	$ 8
Money Market	9	10
Savings	60	57
Time deposits, $100,000 or more	440	622
Time deposits below $100,000	525	652
Total Interest Expense	$ 1,043	$ 1,349

Deposits - Summary of maturitie

Deposits - Summary of maturities of time deposits (Details) $ in Thousands	Dec. 31, 2020USD ($)
Deposits
2020	$ 37,252
2021	10,722
2020	5,743
2023	9,039
2024	4,172
2024 and thereafter	1,352
Total Time Deposits	$ 68,280

Deposits (Detail)

Deposits (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Deposits
Fee income from deposits	$ 200,000	$ 300,000
Deposit balances of executive officers and directors and their affiliated interests	2,800,000	1,600,000
Brokered deposits	$ 0	$ 0

Income Taxes - Summary of compo

Income Taxes - Summary of components of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Income tax expense at federal statutory rate	$ 453	$ 431
Current income tax (benefit) expense:
Federal	89
State	157	119
Total current tax expense	246	119
Deferred income tax benefits:
Federal	217	291
State	28	42
Total deferred tax expense	245	333
Income tax expense	$ 491	$ 452

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of income tax expense computed at statutory rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Income tax expense at federal statutory rate	$ 453	$ 431
(Decrease) increase resulting from:
Tax-exempt income	(75)	(72)
Bank owned life insurance	(33)	(34)
State income taxes, net of Federal income tax benefit	146	127
Income tax expense	$ 491	$ 452

Income Taxes - Components of ne

Income Taxes - Components of net deferred income tax benefits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax benefits:
Accrued deferred compensation	$ 78	$ 87
Allowance for credit losses	143	243
Net operating loss carryforward credits		153
Accumulated depreciation	(16)	(13)
Other real estate owned	36
Reserve for unfunded commitments	9	10
Accounting standard 310-20	(117)	(103)
Right of use asset	(171)	(205)
Lease liability	171	205
Accumulated securities premium accretion	214	215
Net unrealized depreciation on investment securities available for sale	(466)
Net unrealized loss on Swaps	261	80
Net deferred income tax benefits	$ 142	$ 672

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Income Tax Expense (Benefit)	$ 491	$ 452

Pension and Profit Sharing Pl_2

Pension and Profit Sharing Plans (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Pension and Profit Sharing Plans
Annual contributions included in employee benefit expense	$ 451,000	$ 362,000

Other Benefit Plans (Detail)

Other Benefit Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Benefit Plans
Cash value of life insurance contract	$ 8,200	$ 8,000
Income on their insurance investment total	$ 158	$ 163

Other Noninterest Expenses (Det

Other Noninterest Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Noninterest Expenses.
Loan related expenses	$ 115	$ 128
Other ATM expenses	77	168
Directors fees and expenses	168	197
Postage and delivery	39	157
Stationery, printing and supplies	5	66
Office supplies expenses	54	70
Credit report fees	32	55
Dues and subscriptions fees	95	87
Examination and assessment fees	58	36
Federal Reserve and correspondent bank services	36	43
Foreclosed property expenses	147	65
Liability insurance	64	76
Other	332	367
Total Other Noninterest Expense	$ 1,222	$ 1,515

Commitments and Contingencies -

Commitments and Contingencies - Summary of outstanding loan commitments, unused lines of credit and letters of credit (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability	$ 29,332	$ 23,482
Other Mortgage Loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability	2,229	2,816
Line Of Credit Home Equity
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability	8,672	7,825
Line Of Credit Commercial
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability	19,982	15,003
Line Of Credit Consumer Unsecured
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability	678	654
Letter Of Credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair value disclosure, off-balance sheet risks, face amount, liability	$ 1,044	$ 1,059

Commitments and Contingencies_2

Commitments and Contingencies (Detail)	Dec. 31, 2020USD ($)
Commitments and Contingencies
Provision for financial receivable unfunded credit losses	$ 32,881

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Aug. 31, 2007	Dec. 31, 2020	Dec. 31, 2019
Stockholders Equity [Line Items]
Retained earnings from which dividends may not be paid without prior approval, total		$ 21.2	$ 21.4
Employee Stock Purchase
Stockholders Equity [Line Items]
Number of options issued or activity	0
Employee eligibility period		1 year
Employees to buy stock under options granted		85.00%
Options are vested when granted and will expire no later than		27 months
Common stock, capital shares reserved for future issuance		25,739
Dividend Reinvestment And Stock Purchase Plan [Member]
Stockholders Equity [Line Items]
Employees to buy stock under options granted		95.00%
Shares of common stock purchased		14,566	13,316
Common stock, capital shares reserved for future issuance		76,538
Stockholder Purchase Plan [Member]
Stockholders Equity [Line Items]
Number of options issued or activity		0
Options are vested when granted and will expire no later than		3 months
Common stock, capital shares reserved for future issuance		183,348

Stockholders' Equity - Summary

Stockholders' Equity - Summary of capital comparison with minimum requirements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 01, 2016
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Annual increase in capital (to risk weighted assets) for capital adequacy purposes ratio	0.625%
Common Equity Tier I Capital (to Risk Weighted Assets) Actual Amount	$ 36,442	$ 35,693
Common Equity Tier I Capital (to Risk Weighted Assets) Actual Ratio	13.09%	12.47%
Common Equity Tier I Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Actual Amount	$ 12,532	$ 12,878
Common Equity Tier I Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Actual Ratio	4.50%	4.50%
Common Equity Tier I Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Actual Amount	$ 18,101	$ 18,602
Common Equity Tier I Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Actual Ratio	6.50%	6.50%
Total Capital (to Risk Weighted Assets) Actual Amount	$ 37,951	$ 37,797
Total Capital (to Risk Weighted Assets) Actual Ratio	13.63	13.21
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount	$ 22,278	$ 22,895
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio	8	8	0.625
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 27,848	$ 28,619
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	10	10
Tier I Capital (to Risk Weighted Assets) Actual Amount	$ 36,442	$ 35,693
Tier I Capital (to Risk Weighted Assets) Actual Ratio	13.09	12.47
Tier I Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount	$ 16,709	$ 17,171
Tier I Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio	6	6
Tier I Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 22,278	$ 22,895
Tier I Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	8	8
Tier I Capital (to Average Assets) Actual Amount	$ 36,442	$ 35,693
Tier I Capital (to Average Assets) Actual Ratio	9.12	9.26
Tier I Capital (to Average Assets) For Capital Adequacy Purposes Amount	$ 15,980	$ 15,414
Tier I Capital (to Average Assets) For Capital Adequacy Purposes Ratio	4	4
Tier I Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 19,975	$ 19,268
Tier I Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	5	5
Minimum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk Weighted Assets) Actual Ratio	8
Tier I Capital (to Risk Weighted Assets) Actual Ratio	4
Tier I Capital (to Average Assets) Actual Ratio	4
Maximum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio	2.5
Tier I Capital (to Risk Weighted Assets) Actual Ratio	6

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Basic and diluted earnings per share:
Net income	$ 547	$ 949	$ (96)	$ 268	$ 539	$ 606	$ 319	$ 135	$ 1,668	$ 1,599
Weighted average common shares outstanding (in shares)									2,835,037	2,821,608
Basic net income per share (in dollars per share)									$ 0.59	$ 0.57
Options outstanding	0				0				0	0

Fair Values of Financial Inst_3

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial assets - Carrying Amount
Cash and due from banks	$ 2,117	$ 2,420
Interest-bearing deposits in other financial institutions	29,730	10,017
Federal funds sold	5,246	853
Investment securities available for sale	114,049	71,486
Investments in restricted stock	1,199	1,437
Ground rents	140	143
Loans, less allowance for credit losses	252,296	282,672
Accrued interest receivable	1,302	961
Cash value of life insurance	8,181	8,023
Financial liabilities - Carrying Amount
Deposits	349,620	321,440
Long-term borrowings	0	0
Short-term borrowings	29,912	25,000
Accrued interest payable	16	100
Unrecognized financial instruments:
Commitments to extend credit	31,561	26,297
Standby letters of credit	1,044	1,059
Financial assets - Fair Value
Cash and due from banks	2,117	2,420
Interest-bearing deposits in other financial institutions	29,730	10,017
Federal funds sold	5,246	853
Investment securities available for sale, at fair value	114,049	71,486
Investments in restricted stock	1,199	1,437
Ground rents	140	143
Loans, less allowance for credit losses	253,946	282,583
Accrued interest receivable	1,302	961
Cash value of life insurance	8,181	8,023
Financial liabilities - Fair Value
Deposits	350,666	300,944
Short-term borrowings	29,935	25,386
Accrued interest payable	16	100
Unrecognized financial instruments:
Commitments to extend credit	31,561	26,297
Standby letters of credit	$ 1,044	$ 1,059

Fair Values of Financial Inst_4

Fair Values of Financial Instruments - Estimated fair values of the Company's financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial assets - Carrying Amount
Cash and cash equivalents	$ 37,093
Loans receivable, net	252,296	$ 282,672
Cash value of life insurance	8,181	8,023
Financial liabilities - Carrying Amount
Deposits.	349,620	321,440
Long-term debt	0	0
Short-term borrowings	29,912	25,000
Assets, Fair Value Disclosure [Abstract]
Loans receivable, net	253,946	282,583
Cash value of life insurance	8,181	8,023
Financial Liabilities Fair Value Disclosure [Abstract]
Deposits	350,666	300,944
Short-term debt	29,935	$ 25,386
Fair Value. | Level 1
Financial assets - Carrying Amount
Cash and cash equivalents	37,093
Financial Liabilities Fair Value Disclosure [Abstract]
Deposits	217,898
Fair Value. | Level 2
Assets, Fair Value Disclosure [Abstract]
Cash value of life insurance	8,181
Financial Liabilities Fair Value Disclosure [Abstract]
Deposits	132,768
Short-term debt	29,935
Fair Value. | Level 3
Assets, Fair Value Disclosure [Abstract]
Loans receivable, net	$ 253,946

Fair Value Measurements - Summa

Fair Value Measurements - Summary of fair value measurements on recurring and non-recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	$ (114,049)	$ (71,486)
OREO	575	705
Assets, fair value disclosure	118,571	76,496
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Assets, fair value disclosure	113,675	71,855
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Assets, fair value disclosure	4,896	4,641
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale		(500)
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(29,413)	(12,475)
Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(26,948)	(27,837)
Recurring | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale		(500)
Recurring | U.S. Treasury securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale		(500)
Recurring | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(29,413)	(12,475)
Recurring | Municipal securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(29,413)	(12,475)
Recurring | Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(84,636)	(58,511)
Recurring | Agency mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(84,636)	(58,511)
Recurring | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(949)	(336)
Recurring | Interest rate swap | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Securities available for sale	(949)	(336)
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Maryland Financial Bank stock	3	3
Impaired loans	4,893	4,638
OREO	575	705
Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
OREO	575	705
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Maryland Financial Bank stock	3	3
Impaired loans	$ 4,893	$ 4,638

Fair Value Measurements (Detail

Fair Value Measurements (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
FAIR VALUE
Specific Reserve	$ 11,000,000	$ 15,000,000

Parent Company Financial Info_3

Parent Company Financial Information - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Other assets	$ 362	$ 308
Total Assets	419,486	384,942
Liabilities and Stockholders' Equity
Total Liabilities	382,393	349,262
STOCKHOLDERS' EQUITY
Common stock	2,842	2,827
Surplus	10,640	10,525
Retained earnings	23,071	22,537
Accumulated other comprehensive income (loss), net of benefits	540	(209)
Total Stockholders' Equity	37,093	35,680	$ 34,051
Total Liabilities and Stockholders' Equity	419,486	384,942
Glen Burnie Bancorp
ASSETS
Cash and cash equivalents	111	43	$ 135
Investment	36,982	35,637
Total Assets	37,093	35,680
STOCKHOLDERS' EQUITY
Common stock	2,842	2,827
Surplus	10,640	10,525
Retained earnings	23,071	22,537
Accumulated other comprehensive income (loss), net of benefits	540	(209)
Total Stockholders' Equity	37,093	35,680
Total Liabilities and Stockholders' Equity	$ 37,093	$ 35,680

Parent Company Financial Info_4

Parent Company Financial Information - Condensed Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Condensed Income Statements, Captions [Line Items]
Other expenses									$ (11,696)	$ (11,946)
Income before income tax benefit and equity in undistributed net income of subsidiaries	$ 712	$ 1,232	$ (128)	$ 343	$ 676	$ 818	$ 386	$ 171	2,159	2,051
Income tax benefit									(491)	(452)
NET INCOME	$ 547	$ 949	$ (96)	$ 268	$ 539	$ 606	$ 319	$ 135	1,668	1,599
Glen Burnie Bancorp
Condensed Income Statements, Captions [Line Items]
Dividends and distributions from subsidiaries									1,265	1,070
Other expenses									(236)	(206)
Income before income tax benefit and equity in undistributed net income of subsidiaries									1,029	864
Income tax benefit									43	32
Change in undistributed equity of subsidiaries									596	703
NET INCOME									$ 1,668	$ 1,599

Parent Company Financial Info_5

Parent Company Financial Information - Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 547	$ 949	$ (96)	$ 268	$ 539	$ 606	$ 319	$ 135	$ 1,668	$ 1,599
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in other assets									798	206
Net cash provided by operating activities									1,602	2,992
Cash flows from financing activities:
Dividends paid									(1,134)	(1,128)
Net cash used in financing activities									32,089	(32,004)
Net increase (decrease) in cash and cash equivalents									23,803	(2,664)
Glen Burnie Bancorp
Cash flows from operating activities:
Net income									1,668	1,599
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in other assets										2
Change in undistributed equity of subsidiaries									(596)	(703)
Net cash provided by operating activities									1,072	898
Cash flows from financing activities:
Proceeds from dividend reinvestment plan									130	138
Dividends paid									(1,134)	(1,128)
Net cash used in financing activities									(1,004)	(990)
Net increase (decrease) in cash and cash equivalents									68	(92)
Cash and cash equivalents at beginning of year				$ 43				$ 135	43	135
Cash and cash equivalents at end of year	$ 111				$ 43				$ 111	$ 43

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Quarterly Results of Operations (Unaudited)
Interest income	$ 3,485	$ 3,349	$ 3,336	$ 3,499	$ 3,641	$ 3,590	$ 3,574	$ 3,709	$ 13,669	$ 14,514
Interest expense	313	353	398	451	461	446	450	570	1,515	1,927
Net interest income	3,172	2,996	2,938	3,048	3,180	3,144	3,124	3,139	12,154	12,587
Provision for credit losses	(427)	(669)	487	(80)	(179)	(139)	30	173	(689)	(115)
Net securities gains	6							3	6	3
Income before income taxes	712	1,232	(128)	343	676	818	386	171	2,159	2,051
Net income	$ 547	$ 949	$ (96)	$ 268	$ 539	$ 606	$ 319	$ 135	$ 1,668	$ 1,599
Net income per share (basic and diluted)	$ 0.20	$ 0.33	$ (0.03)	$ 0.09	$ 0.19	$ 0.21	$ 0.11	$ 0.05	$ 0.59	$ 0.57

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jan. 01, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Retained earnings		$ 23,071,000	$ 22,537,000
Accounting Standards Update 2016-13
Subsequent Event [Line Items]
Retained earnings	$ (1,140,848)