Glen Burnie Bancorp (GLBZ) 10-Q15 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	6-May-14
Document And Entity Information [Abstract]	'	'
Entity Registrant Name	'GLEN BURNIE BANCORP	'
Entity Central Index Key	'0000890066	'
Trading Symbol	'glbz	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock Shares Outstanding	'	2,754,305
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
ASSETS	'	'
Cash and due from banks	$8,237	$9,214
Interest-bearing deposits in other financial institutions	6,948	1,636
Federal funds sold	4,194	103
Cash and cash equivalents	19,379	10,953
Investment securities available for sale (AFS)	73,464	74,314
Federal Home Loan Bank stock, at cost	1,328	1,453
Maryland Financial Bank stock	30	30
Loans, less allowance for credit losses (March 31: $2,976; December 31: $2,972)	278,548	270,684
Premises and equipment, at cost, less accumulated depreciation	3,723	3,697
Other real estate owned	863	1,171
Cash value of life insurance	8,970	8,915
Other assets	5,080	5,977
Total assets	391,385	377,194
Liabilities:	'	'
Deposits	336,923	323,803
Long-term borrowings	20,000	20,000
Other liabilities	1,466	1,807
Total liabilities	358,389	345,610
Commitments and contingencies	'	'
Stockholders' equity:	'	'
Common stock, par value $1, authorized 15,000,000 shares; issued and outstanding: March 31: 2,750,876 shares; December 31: 2,747,370 shares	2,751	2,747
Surplus	9,750	9,714
Retained earnings	20,498	20,301
Accumulated other comprehensive loss, net of taxes	-3	-1,178
Total stockholders' equity	32,996	31,584
Total liabilities and stockholders' equity	$391,385	$377,194

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]	'	'
Loans, allowance for credit losses (in dollars)	$2,976	$2,972
Common stock, par value (in dollars per share)	$1	$1
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	2,750,876	2,747,370
Common stock, shares outstanding	2,750,876	2,747,370

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Interest income on:	'	'
Loans, including fees	$3,106	$3,003
U.S. Treasury and U.S. Government agency securities	216	187
State and municipal securities	330	418
Other	23	22
Total interest income	3,675	3,630
Interest expense on:	'	'
Deposits	430	559
Long-term borrowings	158	158
Total interest expense	588	717
Net interest income	3,087	2,913
Provision for credit losses	38	'
Net interest income after provision for credit losses	3,049	2,913
Other income:	'	'
Service charges on deposit accounts	124	138
Other fees and commissions	171	175
Other non-interest income	4	6
Income on life insurance	55	58
Gains on investment securities	79	2
Total other income	433	379
Other expenses:	'	'
Salaries and employee benefits	1,677	1,655
Occupancy	222	202
Other expenses	1,016	828
Total other expenses	2,915	2,685
Income before income taxes	567	607
Income tax expense	94	78
Net income	$473	$529
Basic and diluted earnings per share of common stock (in dollars per share)	$0.17	$0.19
Weighted average shares of common stock outstanding (in shares)	2,750,603	2,736,978
Dividends declared per share of common stock (in dollars per share)	$0.10	$0.10

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statement Of Other Comprehensive Income [Abstract]	'	'
Net income	$473	$529
Unrealized gains (losses) on securities:	'	'
Unrealized holding gains (losses) arising during the period	1,223	-408
Reclassification adjustment for gains included in net income	-48	-1
Comprehensive income	$1,648	$120

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income	$473	$529
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation, amortization, and accretion	144	383
Provision for credit losses	38	'
Gains on disposals of assets, net	-1	-2
Income on investment in life insurance	-55	-58
Changes in assets and liabilities:	'	'
Decrease (increase) in other assets	116	-6
Decrease in other liabilities	-342	-543
Net cash provided by operating activities	373	303
Cash flows from investing activities:	'	'
Maturities of available for sale mortgage-backed securities	1,820	4,871
Proceeds from maturities and sales of other investment securities	2,263	282
Purchases of investment securities	-1,244	-8,910
Sales of Federal Home Loan Bank stock	125	85
Proceeds from sales of other real estate	230	66
Increase in loans, net	-7,902	-2,438
Purchases of premises and equipment	-124	-102
Net cash used by investing activities	-4,832	-6,146
Cash flows from financing activities:	'	'
Increase in deposits, net	13,120	1,852
Dividends paid	-275	'
Common stock dividends reinvested	40	'
Net cash provided by financing activities	12,885	1,852
Increase (decrease) in cash and cash equivalents	8,426	-3,991
Cash and cash equivalents, beginning of year	10,953	18,628
Cash and cash equivalents, end of period	$19,379	$14,637

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	NOTE 1 - BASIS OF PRESENTATION

	The accompanying condensed balance sheet as of December 31, 2013, which has been derived from audited financial statements, and the unaudited interim consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations, changes in stockholders’ equity, and cash flows in conformity with accounting principles generally accepted in the United States of America. However, all adjustments (consisting only of normal recurring accruals) which, in the opinion of management, are necessary for a fair presentation of the unaudited consolidated financial statements have been included in the results of operations for the three months ended March 31, 2014 and 2013.

	Operating results for the three months ended March 31, 2014 is not necessarily indicative of the results that may be expected for the year ending December 31, 2014.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
EARNINGS PER SHARE	Mar. 31, 2014
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	NOTE 2 - EARNINGS PER SHARE

	Basic earnings per share of common stock are computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share are calculated by including the average dilutive common stock equivalents outstanding during the periods. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method.

		Three Months Ended
		March 31,
		2014		2013
	Basic and diluted:
	Net income	$	473,000	$	529,000
	Weighted average common shares outstanding		2,750,603		2,736,978
	Basic and dilutive net income per share	$	0.17	$	0.19

	Diluted earnings per share calculations were not required for the three months ended March 31, 2014 and 2013, since there were no options outstanding.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Mar. 31, 2014
Accounting Changes and Error Corrections [Abstract]	'
RECENT ACCOUNTING PRONOUNCEMENTS	'
	NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS

	The FASB has issued several exposure drafts which, if adopted, would significantly alter the Company’s (and all other financial institutions’) method of accounting for, and reporting, its financial assets and some liabilities from a historical cost method to a fair value method of accounting as well as the reported amount of net interest income. Also, the FASB has issued several exposure drafts regarding a change in the accounting for leases. Under this exposure draft, the total amount of “lease rights” and total amount of future payments required under all leases would be reflected on the balance sheets of all entities as assets and debt. If the changes under discussion in either of these exposure drafts are adopted, the financial statements of the Company could be materially impacted as to the amounts of recorded assets, liabilities, capital, net interest income, interest expense, depreciation expense, rent expense and net income. The Company has not determined the extent of the possible changes at this time. The exposure drafts are in different stages of review, approval and possible adoption.

	ASU 2011-11, “Balance Sheet (Topic 210) – “Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 amends Topic 210, “Balance Sheet,” to require an entity to disclose both gross and net information about financial instruments, such as sales and repurchase agreements and reverse sale and repurchase agreements and securities borrowing/lending arrangements, and derivative instruments that are eligible for offset in the statement of financial position and/or subject to a master netting arrangement or similar agreement. ASU 2011-11 is effective for annual and interim periods beginning on January 1, 2013, and did not have a material effect on the Company’s results of operations or financial condition.

	ASU 2012-02 “Intangibles – Goodwill and Other (Topic 350) – Testing Indefinite-Lived Intangible Assets for Impairment.” ASU 2012-02 give entities the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite-lived intangible asset is impaired. If, after assessing the totality of events or circumstances, an entity determines it is more likely than not that an indefinite-lived intangible asset is impaired, then the entity must perform the quantitative impairment test. If, under the quantitative impairment test, the carrying amount of the intangible asset exceeds its fair value, an entity should recognize an impairment loss in the amount of that excess. Permitting an entity to assess qualitative factors when testing indefinite-lived intangible assets for impairment results in guidance that is similar to the goodwill impairment testing guidance in ASU 2011-08. ASU 2012-02 is effective for the Corporation beginning January 1, 2013 and did not have a material effect on the Company’s results of operations or financial condition.

	ASU 2013-02, Comprehensive Income (Topic 220), “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. This standard is effective prospectively for public entities for annual and interim reporting periods beginning after December 15, 2012. Being disclosure-related only, the Company’s adoption of ASU 2013-02 on January 1, 2013 did not have a material effect on the Company’s results of operations or financial condition.

	ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, is expected to eliminate diversity in practice as it provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss (NOL) carryforward, a similar tax loss, or a tax credit carryforward exists. The changes were effective for the Company during the first quarter of 2014. Adoption of this ASU had no impact on the financial statements of the Company.

FAIR_VALUE

FAIR VALUE	3 Months Ended
FAIR VALUE	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	NOTE 4 – FAIR VALUE

	ASC 820-10 defines fair value, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

	Fair Value Hierarchy

	ASC 820-10 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. In accordance with ASC 820-10, these inputs are summarized in the three broad levels listed below:

		o Level 1 – Quoted prices in active markets for identical securities

		o Level 2 – Other significant observable inputs (including quoted prices in active markets for similar securities)

		o Level 3 – Significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments)

	In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are subject to ASC 820-10.

	The Company’s bond holdings in the investment securities portfolio are the only asset or liability subject to fair value measurements on a recurring basis. Two assets are valued under Level 1 inputs at March 31, 2014 or December 31, 2013. The Company has assets measured by fair value measurements on a non-recurring basis during 2014. At March 31, 2014, these assets include 20 loans classified as impaired, which include nonaccrual, past due 90 days or more and still accruing, or troubled debt restructuring, and a homogeneous pool of indirect loans all considered to be impaired loans, which are valued under Level 3 inputs and two properties classified as OREO valued under Level 2 inputs.

	The changes in the assets subject to fair value measurements are summarized below by Level:

			(Dollars in Thousands)
														Fair
			Level 1			Level 2				Level 3				Value
	31-Dec-13
	Recurring:
	Investment securities available for sale (AFS)		$	574		$	73,516			$	224			$	74,314

	Non-recurring:
	Maryland Financial Bank stock			-			-				30				30
	Impaired loans			-			-				4,745				4,745
	OREO			-			1,171				-				1,171
				574			74,687				4,999				80,260

	Activity:
	Investment securities AFS
	Purchases of investment securities			-			1,244				-				1,244
	Sales, calls and maturities of investment securities			-			(4,083	)			-				(4,083	)
	Amortization/accretion of premium/discount			-			(41	)			-				(41	)
	Increase (decrease) in market value			124			2,004				(98	)			2,030

	Loans
	Payments and other loan reductions			-			-				(179	)			(179	)
	Change in total provision			-			-				(85	)			(85	)
	Loans converted to OREO			-			-				-				-

	OREO
	OREO converted from loans			-			-				-				-
	Sales of OREO			-			(230	)			-				(230	)
	Loss on disposal of OREO			-			(78	)			-				(78	)

	March 31, 2014
	Recurring:
	Investment securities AFS			698			72,640				126				73,464

	Non-recurring:
	Maryland Financial Bank stock			-			-				30				30
	Impaired loans			-			-				4,481				4,481
	OREO			-			863				-				863
			$	698		$	73,503			$	4,637			$	78,838

	The estimated fair values of the Company’s financial instruments at March 31, 2014 and December 31, 2013 are summarized below. The fair values of a significant portion of these financial instruments are estimates derived using present value techniques and may not be indicative of the net realizable or liquidation values. Also, the calculation of estimated fair values is based on market conditions at a specific point in time and may not reflect current or future fair values.

			31-Mar-14							31-Dec-13
(In Thousands)		Carrying			Fair				Carrying				Fair
		Amount			Value				Amount				Value
Financial assets:
Cash and due from banks		$	8,237		$	8,237			$	9,214			$	9,214
Interest-bearing deposits			6,948			6,948				1,636				1,636
Federal funds sold			4,194			4,194				103				103
Investment securities			73,464			73,464				74,314				74,314
Investments in restricted stock			1,328			1,328				1,453				1,453
Ground rents			172			172				169				169
Loans, net			278,548			270,332				270,684				270,684
Accrued interest receivable			1,347			1,347				1,509				1,509

Financial liabilities:
Deposits			336,923			303,257				323,803				291,046
Long-term borrowings			20,000			21,021				20,000				21,032
Dividends payable			275			275				275				275
Accrued interest payable			37			37				29				29

Off-balance sheet commitments			24,761			24,761				23,901				23,901

Fair values are based on quoted market prices for similar instruments or estimated using discounted cash flows. The discounts used are estimated using comparable market rates for similar types of instruments adjusted to be commensurate with the credit risk, overhead costs and optionality of such instruments.

The fair value of cash and due from banks, federal funds sold, investments in restricted stocks and accrued interest receivable are equal to the carrying amounts. The fair values of investment securities are determined using market quotations. The fair value of loans receivable is estimated using discounted cash flow analysis.

The fair value of non-interest bearing deposits, interest-bearing checking, savings, and money market deposit accounts, securities sold under agreements to repurchase, and accrued interest payable are equal to the carrying amounts. The fair value of fixed-maturity time deposits is estimated using discounted cash flow analysis.

The gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2014 are as follows:
Securities available for sale:		Less than 12 months							12 months or more								Total
(Dollars in Thousands)
		Fair			Unrealized				Fair				Unrealized				Fair		Unrealized
		Value			Loss				Value				Loss				Value		Loss

Obligations of U.S. Govt Agencies		$	-		$	-			$	-			$	-			$	-	$	-
State and Municipal			7,275			404				3,251				353				10,526		757
Corporate Trust Preferred			-			-				126				120				126		120
Mortgage Backed			18,559			793				8,679				554				27,238		1,347
		$	25,834		$	1,197			$	12,056			$	1,027			$	37,890	$	2,224

At March 31, 2014, the company owned one pooled trust preferred security issued by Regional Diversified Funding, Senior Notes with a Moody’s rating of Ca. The market for this security (two different portions) at March 31, 2014 was not active and markets for similar securities were also not active. As a result, the Company had cash flow testing performed as of March 31, 2014 by an unrelated third party specialist in order to measure the possible extent of other-than-temporary-impairment (“OTTI”). This testing assumed future defaults on the currently performing financial institutions of 150 basis points applied annually with a 0% recovery on both current and future defaulting financial institutions. As a result of this testing, no write-down was required in the first quarter of 2014. There was a write-down of $15,312 done on the larger portion of the security during the third quarter of 2013 and a write-down of $269 done on the larger portion of the security during the fourth quarter of 2013.

Declines in the fair value of held to maturity and available for sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. In estimating other-than-temporary-impairment losses, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the intent and ability of the Company to retain it’s investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

As of March 31, 2014, management had the ability and intent to hold the securities classified as available for sale for a period of time sufficient for a recovery of cost. On March 31, 2014, the Bank held 19 investment securities having continuous unrealized loss positions for more than 12 months. Management has determined that all unrealized losses are either due to increases in market interest rates over the yields available at the time the underlying securities were purchased, current call features that are nearing, and the effect the sub-prime market has had on all mortgage-backed securities. The Bank has no mortgage-backed securities collateralized by sub-prime mortgages. The fair value is expected to recover as the bonds approach their maturity date or repricing date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Except as noted above, as of March 31, 2014, management believes the impairments detailed in the table above are temporary and no impairment loss has been realized in the Company’s consolidated income statement.

A rollforward of the cumulative other-than-temporary credit losses recognized in earnings for all debt securities for which a portion of an other-than-temporary loss is recognized in accumulated other comprehensive loss is as follows:

		At			At
		March 31,			December 31,
		2014			2013
		(Dollars in Thousands)

Estimated credit losses, beginning of year		$	3,262		$	3,247
Credit losses - no previous OTTI recognized			-			-
Credit losses - previous OTTI recognized			-			15

Estimated credit losses, end of period		$	3,262		$	3,262

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
EARNINGS PER SHARE (Tables)	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of earnings per common share	'
		Three Months Ended
		March 31,
		2014		2013
	Basic and diluted:
	Net income	$	473,000	$	529,000
	Weighted average common shares outstanding		2,750,603		2,736,978
	Basic and dilutive net income per share	$	0.17	$	0.19

FAIR_VALUE_Tables

FAIR VALUE (Tables)	3 Months Ended
FAIR VALUE (Tables)	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Schedule of changes in asset subject to fair value measurement by Level	'

		(Dollars in Thousands)
										Fair
		Level 1		Level 2			Level 3			Value
	31-Dec-13
	Recurring:
	Investment securities available for sale (AFS)	$	574	$	73,516		$	224		$	74,314

	Non-recurring:
	Maryland Financial Bank stock		-		-			30			30
	Impaired loans		-		-			4,745			4,745
	OREO		-		1,171			-			1,171
			574		74,687			4,999			80,260

	Activity:
	Investment securities AFS
	Purchases of investment securities		-		1,244			-			1,244
	Sales, calls and maturities of investment securities		-		(4,083	)		-			(4,083	)
	Amortization/accretion of premium/discount		-		(41	)		-			(41	)
	Increase (decrease) in market value		124		2,004			(98	)		2,030

	Loans
	Payments and other loan reductions		-		-			(179	)		(179	)
	Change in total provision		-		-			(85	)		(85	)
	Loans converted to OREO		-		-			-			-

	OREO
	OREO converted from loans		-		-			-			-
	Sales of OREO		-		(230	)		-			(230	)
	Loss on disposal of OREO		-		(78	)		-			(78	)

	March 31, 2014
	Recurring:
	Investment securities AFS		698		72,640			126			73,464

	Non-recurring:
	Maryland Financial Bank stock		-		-			30			30
	Impaired loans		-		-			4,481			4,481
	OREO		-		863			-			863
		$	698	$	73,503		$	4,637		$	78,838
Schedule of estimated fair values of financial instruments	'
		31-Mar-14					31-Dec-13
	(In Thousands)	Carrying		Fair			Carrying			Fair
		Amount		Value			Amount			Value
	Financial assets:
	Cash and due from banks	$	8,237	$	8,237		$	9,214		$	9,214
	Interest-bearing deposits		6,948		6,948			1,636			1,636
	Federal funds sold		4,194		4,194			103			103
	Investment securities		73,464		73,464			74,314			74,314
	Investments in restricted stock		1,328		1,328			1,453			1,453
	Ground rents		172		172			169			169
	Loans, net		278,548		270,332			270,684			270,684
	Accrued interest receivable		1,347		1,347			1,509			1,509

	Financial liabilities:
	Deposits		336,923		303,257			323,803			291,046
	Long-term borrowings		20,000		21,021			20,000			21,032
	Dividends payable		275		275			275			275
	Accrued interest payable		37		37			29			29

	Off-balance sheet commitments		24,761		24,761			23,901			23,901
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time in continuous unrealized loss position	'

	Securities available for sale:	Less than 12 months					12 months or more						Total
	(Dollars in Thousands)
		Fair		Unrealized			Fair			Unrealized			Fair		Unrealized
		Value		Loss			Value			Loss			Value		Loss

	Obligations of U.S. Govt Agencies	$	-	$	-		$	-		$	-		$	-	$	-
	State and Municipal		7,275		404			3,251			353			10,526		757
	Corporate Trust Preferred		-		-			126			120			126		120
	Mortgage Backed		18,559		793			8,679			554			27,238		1,347
		$	25,834	$	1,197		$	12,056		$	1,027		$	37,890	$	2,224
Schedule of rollforward of the cumulative other-than-temporary credit losses recognized in earnings for debt securities	'
		At		At
		March 31,		December 31,
		2014		2013
		(Dollars in Thousands)

	Estimated credit losses, beginning of year	$	3,262	$	3,247
	Credit losses - no previous OTTI recognized		-		-
	Credit losses - previous OTTI recognized		-		15

	Estimated credit losses, end of period	$	3,262	$	3,262

EARNINGS_PER_SHARE_Basic_earni

EARNINGS PER SHARE - Basic earnings per share of common stock (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Basic and diluted:	'	'
Net income	$473	$529
Weighted average common shares outstanding (in shares)	2,750,603	2,736,978
Basic and dilutive net income per share	$0.17	$0.19

FAIR_VALUE_changes_in_the_asse

FAIR VALUE - changes in the assets subject to fair value measurements (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

In Thousands, unless otherwise specified

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 3

Fair Value

Recurring

Nonrecurring

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 3

Fair Value

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 3

Fair Value

Recurring:

Investment securities available for sale (AFS)

$73,464

$74,314

$698

$574

$72,640

$73,516

$126

$224

$73,464

$74,314

Non-recurring:

Maryland Financial Bank stock

Impaired loans

4,481

4,745

4,481

4,745

OREO

863

1,171

863

1,171

Assets, fair value disclosure

698

574

73,503

74,687

4,637

4,999

78,838

80,260

Investment securities AFS

Purchases of investment securities

1,244

Sales, calls and maturities of investment securities

-4,083

Amortization/accretion of premium/discount

-41

Increase (decrease) in market value

124

2,004

-98

2,030

Loans

Payments and other loan reductions

-179

Change in total provision

-85

Loans converted to OREO

OREO

OREO converted from loans

Sales of OREO

-230

Loss on disposal of OREO

($78)

FAIR_VALUE_estimated_fair_valu

FAIR VALUE - estimated fair values of the Company's financial instruments (Details 1) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Financial assets - Carrying Amount	'	'
Cash and due from banks	$8,237	$9,214
Interest-bearing deposits	6,948	1,636
Federal funds sold	4,194	103
Investment securities	73,464	74,314
Investments in restricted stock	1,328	1,453
Ground rents	172	169
Loans, net	278,548	270,684
Accrued interest receivable	1,347	1,509
Financial liabilities - Carrying Amount	'	'
Deposits	336,923	323,803
Long-term borrowings	20,000	20,000
Dividends payable	275	275
Accrued interest payable	37	29
Off-balance sheet commitments	24,761	23,901
Financial assets - Fair Value	'	'
Cash and due from banks	8,237	9,214
Interest-bearing deposits	6,948	1,636
Federal funds sold	4,194	103
Investment securities	73,464	74,314
Investments in restricted stock	1,328	1,453
Ground rents	172	169
Loans, net	270,332	270,684
Accrued interest receivable	1,347	1,509
Financial liabilities - Fair Value	'	'
Deposits	303,257	291,046
Long-term borrowings	21,021	21,032
Dividends payable	275	275
Accrued interest payable	37	29
Off-balance sheet commitments	$24,761	$23,901

FAIR_VALUE_gross_unrealized_lo

FAIR VALUE - gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities (Details 2) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014
Schedule of Available-for-sale Securities [Line Items]	'
Less than 12 months Fair Value	$25,834
Less than 12 months Unrealized Loss	1,197
12 months or more Fair Value	12,056
12 months or more Unrealized Loss	1,027
Total Fair Value	37,890
Total Unrealized Loss	2,224
Obligations of U.S. Govt Agencies	'
Schedule of Available-for-sale Securities [Line Items]	'
Less than 12 months Fair Value	'
Less than 12 months Unrealized Loss	'
12 months or more Fair Value	'
12 months or more Unrealized Loss	'
Total Fair Value	'
Total Unrealized Loss	'
State and Municipal	'
Schedule of Available-for-sale Securities [Line Items]	'
Less than 12 months Fair Value	7,275
Less than 12 months Unrealized Loss	404
12 months or more Fair Value	3,251
12 months or more Unrealized Loss	353
Total Fair Value	10,526
Total Unrealized Loss	757
Corporate Trust Preferred	'
Schedule of Available-for-sale Securities [Line Items]	'
Less than 12 months Fair Value	'
Less than 12 months Unrealized Loss	'
12 months or more Fair Value	126
12 months or more Unrealized Loss	120
Total Fair Value	126
Total Unrealized Loss	120
Mortgage Backed	'
Schedule of Available-for-sale Securities [Line Items]	'
Less than 12 months Fair Value	18,559
Less than 12 months Unrealized Loss	793
12 months or more Fair Value	8,679
12 months or more Unrealized Loss	554
Total Fair Value	27,238
Total Unrealized Loss	$1,347

FAIR_VALUE_cumulative_othertha

FAIR VALUE - cumulative other-than-temporary credit losses (Details 3) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'	'
Estimated credit losses, beginning of year	$3,262	$3,247
Credit losses - no previous OTTI recognized	'	'
Credit losses - previous OTTI recognized	'	15
Estimated credit losses, end of period	$3,262	$3,262

FAIR_VALUE_Detail_Textuals

FAIR VALUE - (Detail Textuals) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Number of assets valued at quoted price	2	'	'
Number of impaired loans classified as nonaccrual loans	20	'	'
Number of properties classified as OREO	2	'	'
Corporate Debt Securities	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Assumed future inputs net default basis points rate	'This testing assumed future defaults on the currently performing financial institutions of 150 basis points applied annually with a 0% recovery on both current and future defaulting financial institutions.	'	'
Write-down of investment	'	$269	$15,312
Investment securities	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Number of securities continuous unrealized loss position more than twelve months	19	'	'