Glen Burnie Bancorp (GLBZ) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 27, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	GLEN BURNIE BANCORP
Entity Central Index Key	890,066
Trading Symbol	glbz
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock Shares Outstanding		2,776,566
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 6,124	$ 7,493
Interest-bearing deposits in other financial institutions	6,069	2,308
Federal funds sold	8,425	2,570
Cash and cash equivalents	20,618	12,371
Investment securities available for sale, at fair value	99,476	98,790
Federal Home Loan Bank stock, at cost	1,200	1,203
Maryland Financial Bank stock	30	30
Loans, less allowance for credit losses (March 31: $2,312; December 31: $3,150)	254,791	259,637
Premises and equipment, at cost, less accumulated depreciation	3,302	3,369
Other real estate owned	201	74
Cash value of life insurance	9,411	9,358
Other assets	5,437	5,748
Total assets	394,466	390,580
Liabilities:
Deposits	339,055	335,191
Long-term borrowings	20,000	20,000
Other liabilities	744	1,213
Total liabilities	$ 359,799	$ 356,404
Commitments and contingencies
Stockholders' equity:
Common stock, par value $1, authorized 15,000,000 shares; issued and outstanding: March 31: 2,776,566 shares; December 31: 2,773,361 shares	$ 2,777	$ 2,773
Surplus	10,036	9,986
Retained earnings	21,723	21,718
Accumulated other comprehensive income (loss), net of taxes	131	(301)
Total stockholders' equity	34,667	34,176
Total liabilities and stockholders' equity	$ 394,466	$ 390,580

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Loans, allowance for credit losses (in dollars)	$ 2,312	$ 3,150
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	2,776,566	2,773,361
Common stock, shares outstanding	2,776,566	2,773,361

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income on:
Loans, including fees	$ 2,835	$ 2,943
U.S. Treasury and U.S. Government agency securities	275	210
State and municipal securities	213	302
Other	28	25
Total interest income	3,351	3,480
Interest expense on:
Deposits	392	462
Long-term borrowings	160	158
Total interest expense	552	620
Net interest income	2,799	2,860
Provision for credit losses	117	150
Net interest income after provision for credit losses	2,682	2,710
Other income:
Service charges on deposit accounts	83	105
Other fees and commissions	159	170
Other non-interest income	12	10
Income on life insurance	53	54
Gains on investment securities	1	199
Total other income	308	538
Other expenses:
Salaries and employee benefits	1,505	1,668
Occupancy	198	214
Other expenses	970	937
Total other expenses	2,673	2,819
Income before income taxes	317	429
Income tax expense	34	49
Net income	$ 283	$ 380
Basic and diluted earnings per share of common stock (in dollars per share)	$ 0.10	$ 0.14
Weighted average shares of common stock outstanding (in shares)	2,775,560	2,764,129
Dividends declared per share of common stock (in dollars per share)	$ 0.10	$ 0.10

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Other Comprehensive Income [Abstract]
Net income	$ 283	$ 380
Unrealized gains on securities:
Unrealized holding gains arising during the period	434	286
Reclassification adjustment for gains included in net income	(1)	(120)
Comprehensive income	$ 716	$ 546

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 283	$ 380
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and accretion	270	223
Provision for credit losses	117	150
Gains on disposals of assets, net	(1)	(199)
Income on investment in life insurance	(53)	(55)
Changes in assets and liabilities:
Decrease in other assets	25	116
Decrease in other liabilities	(469)	(556)
Net cash provided by operating activities	172	59
Cash flows from investing activities:
Maturities and proceeds of available for sale mortgage-backed securities	3,513	2,879
Proceeds from maturities and sales of other investment securities	3,767	6,368
Purchases of investment securities	(7,422)	(18,211)
Sale of Federal Home Loan Bank stock	3	125
Decrease in loans, net	4,603	5,603
Purchases of premises and equipment	(29)	(120)
Net cash provided (used) by investing activities	4,435	(3,356)
Cash flows from financing activities:
Increase in deposits, net	3,863	7,694
Dividends paid	(277)	(275)
Common stock dividends reinvested	53	39
Net cash provided by financing activities	3,639	7,458
Increase in cash and cash equivalents	8,247	4,161
Cash and cash equivalents, beginning of year	12,371	13,280
Cash and cash equivalents, end of period	$ 20,618	$ 17,441

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2016
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, 2015, 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, 2016 and 2015. Operating results for the three months ended March 31, 2016 is not necessarily indicative of the results that may be expected for the year ending December 31, 2016.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
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, 2016 2015 Basic and diluted: Net income $ 283,000 $ 380,000 Weighted average common shares outstanding 2,775,560 2,764,129 Basic and dilutive net income per share $ 0.10 $ 0.14 Diluted earnings per share calculations were not required for the three months ended March 31, 2016 and 2015, since there were no options outstanding.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2016
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 2014-09, “Revenue from Contracts with Customers (Topic 606).” In May 2014, the FASB and the International Accounting Standards Board (the "IASB") jointly issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under GAAP and International Financial Reporting Standards ("IFRS"). Previous revenue recognition guidance in GAAP comprised broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. In contrast, IFRS provided limited revenue recognition guidance and, consequently, could be difficult to apply to complex transactions. Accordingly, the FASB and the IASB initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS that would: (1) Remove inconsistencies and weaknesses in revenue requirements; (2) Provide a more robust framework for addressing revenue issues; (3) Improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets; (4) Provide more useful information to users of financial statements through improved disclosure requirements; and (5) Simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. To meet those objectives, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." In June 2014, the FASB issued ASU No. 2014-12, "Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." Compensation - Stock Compensation ASU 2014-11, “Transfers and Servicing (Topic 860).” ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) – Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” ASU 2015-02, “Consolidation (Topic 810) – Amendments to the Consolidation Analysis.” ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30) – Simplifying the Presentation of Debt Issuance Costs ” ASU 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40) – Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” In May 2015, the FASB Issued ASU 2015-09, “Financial Services-Insurance: Disclosures About Short-Duration Contracts.” In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers—Deferral of the Effective Date” In August 2015, the FASB issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements”. In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments”. In January 2016, the FASB issued ASU 2016-1, “No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842).” In March 2016, the FASB issued ASU 2016-05 “Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” clarifies ASU 2016-05 In March 2016, the FASB issued ASU 2016-07, “Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting.” In March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” ASC Topic 606, “Revenue from Contracts with Customers.” ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing.” ASC Topic 606, “Revenue from Contracts with Customers” ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),”

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2016
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: ¨ Level 1 – Quoted prices in active markets for identical securities ¨ Level 2 – Other significant observable inputs (including quoted prices in active markets for similar securities) ¨ 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. At March 31, 2016, these assets include The changes in the assets subject to fair value measurements are summarized below by Level: Fair Level 1 Level 2 Level 3 Value March 31, 2016 Recurring: Securities available for sale U.S. Treasury $ - $ 2,996,331 $ - $ 2,996,331 State and Municipal - 28,253,185 - 28,253,185 Mortgaged-backed - 68,226,301 - 68,226,301 Non-recurring: Maryland Financial Bank stock - - 30,000 30,000 Impaired loans - - 3,619,011 3,619,011 OREO 200,605 - 200,605 $ - $ 99,676,422 $ 3,649,011 $ 103,325,433 December 31, 2015 Recurring: Securities available for sale U.S. Treasury $ - $ 2,991,485 $ - $ 2,991,485 State and Municipal - 29,996,099 - 29,996,099 Mortgaged-backed - 65,802,426 - 65,802,426 Non-recurring: Maryland Financial Bank stock - - 30,000 30,000 Impaired loans - - 4,023,092 4,023,092 OREO - 74,400 - 74,400 $ - $ 98,864,410 $ 4,053,092 $ 102,917,502 The estimated fair values of the Company’s financial instruments at March 31, 2016 and December 31, 2015 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. March 31, 2016 December 31, 2015 (In Thousands) Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Cash and due from banks $ 6,124 $ 6,124 $ 7,493 $ 7,493 Interest-bearing deposits 6,069 6,069 2,308 2,308 Federal funds sold 8,425 8,425 2,570 2,570 Investment securities 99,476 99,476 98,790 98,790 Investments in restricted stock 1,200 1,200 1,203 1,203 Ground rents 164 164 164 164 Loans, net 254,791 248,480 259,637 252,239 Cash Value of life insurance 9,411 9,411 9,358 9,358 Accrued interest receivable 1,120 1,120 1,121 1,121 Financial liabilities: Deposits 339,055 316,354 335,191 307,924 Long-term borrowings 20,000 20,774 20,000 20,688 Dividends payable - - - - Accrued interest payable 40 40 40 40 The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments. Carrying Fair March 31, 2016 Amount Value Level 1 Level 2 Level 3 Financial instruments - Assets Cash and cash equivalents $ 20,617,846 $ 20,617,846 $ - $ 20,617,846 $ - Loans receivable, net 254,791,379 248,480,000 - - 248,480,000 Cash value of life insurance 9,411,064 9,411,064 - 9,411,064 - Financial instruments - Liabilities Deposits 339,054,807 316,354,000 201,923,000 114,431,000 - Long-term debt 20,000,000 20,774,000 - 20,774,000 - 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, 2016 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 2,593 24 1,254 11 3,847 35 Corporate Trust Preferred - - - - - - Mortgage Backed 24,938 113 12,643 244 37,581 357 $ 27,531 $ 137 $ 13,897 $ 255 $ 41,428 $ 392 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, 2016, 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, 2016, the Bank held 22 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, 2016 2015 (Dollars in Thousands) Estimated credit losses, beginning of year $ - $ 3,262 Sales of securities with previous OTTI recognized (3,262 ) Credit losses - no previous OTTI recognized - - Credit losses - previous OTTI recognized - - Estimated credit losses, end of period $ - $ -

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of earnings per common share	Three Months Ended March 31, 2016 2015 Basic and diluted: Net income $ 283,000 $ 380,000 Weighted average common shares outstanding 2,775,560 2,764,129 Basic and dilutive net income per share $ 0.10 $ 0.14

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of changes in asset subject to fair value measurement by Level	Fair Level 1 Level 2 Level 3 Value March 31, 2016 Recurring: Securities available for sale U.S. Treasury $ - $ 2,996,331 $ - $ 2,996,331 State and Municipal - 28,253,185 - 28,253,185 Mortgaged-backed - 68,226,301 - 68,226,301 Non-recurring: Maryland Financial Bank stock - - 30,000 30,000 Impaired loans - - 3,619,011 3,619,011 OREO 200,605 - 200,605 $ - $ 99,676,422 $ 3,649,011 $ 103,325,433 December 31, 2015 Recurring: Securities available for sale U.S. Treasury $ - $ 2,991,485 $ - $ 2,991,485 State and Municipal - 29,996,099 - 29,996,099 Mortgaged-backed - 65,802,426 - 65,802,426 Non-recurring: Maryland Financial Bank stock - - 30,000 30,000 Impaired loans - - 4,023,092 4,023,092 OREO - 74,400 - 74,400 $ - $ 98,864,410 $ 4,053,092 $ 102,917,502
Schedule of estimated fair values of financial instruments	March 31, 2016 December 31, 2015 (In Thousands) Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Cash and due from banks $ 6,124 $ 6,124 $ 7,493 $ 7,493 Interest-bearing deposits 6,069 6,069 2,308 2,308 Federal funds sold 8,425 8,425 2,570 2,570 Investment securities 99,476 99,476 98,790 98,790 Investments in restricted stock 1,200 1,200 1,203 1,203 Ground rents 164 164 164 164 Loans, net 254,791 248,480 259,637 252,239 Cash Value of life insurance 9,411 9,411 9,358 9,358 Accrued interest receivable 1,120 1,120 1,121 1,121 Financial liabilities: Deposits 339,055 316,354 335,191 307,924 Long-term borrowings 20,000 20,774 20,000 20,688 Dividends payable - - - - Accrued interest payable 40 40 40 40
Schedule of fair value hierarchy of financial instruments	Carrying Fair March 31, 2016 Amount Value Level 1 Level 2 Level 3 Financial instruments - Assets Cash and cash equivalents $ 20,617,846 $ 20,617,846 $ - $ 20,617,846 $ - Loans receivable, net 254,791,379 248,480,000 - - 248,480,000 Cash value of life insurance 9,411,064 9,411,064 - 9,411,064 - Financial instruments - Liabilities Deposits 339,054,807 316,354,000 201,923,000 114,431,000 - Long-term debt 20,000,000 20,774,000 - 20,774,000 -
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time in continuous unrealized loss position	Securities available for sale: Less than 12 months 12 months or more Total (Dollars in Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss Obligations of U.S. Govt Agencies $ - $ - $ - $ - $ - $ - State and Municipal 2,593 24 1,254 11 3,847 35 Corporate Trust Preferred - - - - - - Mortgage Backed 24,938 113 12,643 244 37,581 357 $ 27,531 $ 137 $ 13,897 $ 255 $ 41,428 $ 392
Schedule of rollforward of the cumulative other-than-temporary credit losses recognized in earnings for debt securities	At At March 31, December 31, 2016 2015 (Dollars in Thousands) Estimated credit losses, beginning of year $ - $ 3,262 Sales of securities with previous OTTI recognized (3,262 ) Credit losses - no previous OTTI recognized - - Credit losses - previous OTTI recognized - - Estimated credit losses, end of period $ - $ -

EARNINGS PER SHARE - Basic earn

EARNINGS PER SHARE - Basic earnings per share of common stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic and diluted:
Net income	$ 283	$ 380
Weighted average common shares outstanding (in shares)	2,775,560	2,764,129
Basic and dilutive net income per share (in dollars per share)	$ 0.10	$ 0.14

FAIR VALUE - Changes in the ass

FAIR VALUE - Changes in the assets subject to fair value measurements (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 99,476,000	$ 98,790,000
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 99,676,422	$ 98,864,410
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	3,649,011	4,053,092
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 103,325,433	$ 102,917,502
Recurring | U.S. Treasury | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Recurring | U.S. Treasury | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 2,996,331	$ 2,991,485
Recurring | U.S. Treasury | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Recurring | U.S. Treasury | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 2,996,331	$ 2,991,485
Recurring | State and Municipal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Recurring | State and Municipal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 28,253,185	$ 29,996,099
Recurring | State and Municipal | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Recurring | State and Municipal | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 28,253,185	$ 29,996,099
Recurring | Mortgage-backed | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Recurring | Mortgage-backed | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 68,226,301	$ 65,802,426
Recurring | Mortgage-backed | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Recurring | Mortgage-backed | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 68,226,301	$ 65,802,426
Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maryland Financial Bank stock
Impaired loans
OREO
Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maryland Financial Bank stock
Impaired loans
OREO	$ 200,605	$ 74,400
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maryland Financial Bank stock	30,000	30,000
Impaired loans	$ 3,619,011	$ 4,023,092
OREO
Nonrecurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maryland Financial Bank stock	$ 30,000	$ 30,000
Impaired loans	3,619,011	4,023,092
OREO	$ 200,605	$ 74,400

FAIR VALUE - Estimated fair val

FAIR VALUE - Estimated fair values of the Company's financial instruments (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financial assets - Carrying Amount
Cash and due from banks	$ 6,124	$ 7,493
Interest-bearing deposits	6,069	2,308
Federal funds sold	8,425	2,570
Investment securities	99,476	98,790
Investments in restricted stock	1,200	1,203
Ground rents	164	164
Loans, net	254,791	259,637
Cash value of life insurance	9,411	9,358
Accrued interest receivable	1,120	1,121
Financial liabilities - Carrying Amount
Deposits	339,055	335,191
Long-term borrowings	$ 20,000	$ 20,000
Dividends payable
Accrued interest payable	$ 40	$ 40
Financial assets - Fair Value
Cash and due from banks	6,124	7,493
Interest-bearing deposits	6,069	2,308
Federal funds sold	8,425	2,570
Investment securities	99,476	98,790
Investments in restricted stock	1,200	1,203
Ground rents	164	164
Loans, net	248,480	252,239
Cash value of life insurance	9,411	9,358
Accrued interest receivable	1,120	1,121
Financial liabilities - Fair Value
Deposits	316,354	307,924
Long-term borrowings	$ 20,774	$ 20,688
Dividends payable
Accrued interest payable	$ 40	$ 40

FAIR VALUE (Details 2)

FAIR VALUE (Details 2) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Financial assets - Carrying Amount
Cash and cash equivalents	$ 20,618,000	$ 12,371,000	$ 17,441,000	$ 13,280,000
Loans receivable, net	254,791,000	259,637,000
Cash value of life insurance	9,411,064
Financial liabilities - Carrying Amount
Deposits	339,055,000	335,191,000
Long-term debt	20,000,000
Financial assets - Fair Value
Cash and cash equivalents	20,617,846
Loans receivable, net	248,480,000	252,239,000
Cash value of life insurance	9,411,064
Financial liabilities - Fair Value
Deposits	316,354,000	307,924,000
Long-term debt	$ 20,774,000	$ 20,688,000
Level 1 | Fair Value
Financial assets - Fair Value
Cash and cash equivalents
Loans receivable, net
Cash value of life insurance
Financial liabilities - Fair Value
Deposits	$ 201,923,000
Long-term debt
Level 2 | Fair Value
Financial assets - Fair Value
Cash and cash equivalents	$ 20,617,846
Loans receivable, net
Cash value of life insurance	$ 9,411,064
Financial liabilities - Fair Value
Deposits	114,431,000
Long-term debt	$ 20,774,000
Level 3 | Fair Value
Financial assets - Fair Value
Cash and cash equivalents
Loans receivable, net	$ 248,480,000
Cash value of life insurance
Financial liabilities - Fair Value
Deposits
Long-term debt

FAIR VALUE - Gross unrealized l

FAIR VALUE - Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities (Details 3) $ in Thousands	Mar. 31, 2016USD ($)
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months Fair Value	$ 27,531
Less than 12 months Unrealized Loss	137
12 months or more Fair Value	13,897
12 months or more Unrealized Loss	255
Total Fair Value	41,428
Total Unrealized Loss	$ 392
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	$ 2,593
Less than 12 months Unrealized Loss	24
12 months or more Fair Value	1,254
12 months or more Unrealized Loss	11
Total Fair Value	3,847
Total Unrealized Loss	$ 35
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
12 months or more Unrealized Loss
Total Fair Value
Total Unrealized Loss
Mortgage Backed
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months Fair Value	$ 24,938
Less than 12 months Unrealized Loss	113
12 months or more Fair Value	12,643
12 months or more Unrealized Loss	244
Total Fair Value	37,581
Total Unrealized Loss	$ 357

FAIR VALUE - Cumulative other-t

FAIR VALUE - Cumulative other-than-temporary credit losses (Details 4) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Estimated credit losses, beginning of year		$ 3,262
Sales of securities with previous OTTI recognized		$ (3,262)
Credit losses - no previous OTTI recognized
Credit losses - previous OTTI recognized
Estimated credit losses, end of period

FAIR VALUE - (Detail Textuals)

FAIR VALUE - (Detail Textuals)	Mar. 31, 2016LoansSecurity
Schedule of Available-for-sale Securities [Line Items]
Number of impaired loans classified as nonaccrual loans | Loans	26
Investment securities
Schedule of Available-for-sale Securities [Line Items]
Number of securities continuous unrealized loss position more than twelve months | Security	22