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Subsidiary	​	​	Percentage of Ownership				​	​	Jurisdiction or State of Incorporation	​
Madison Bank of Maryland	​	​	​	​	100%	​	​	​	United States	​

Subsidiaries of Madison Bank of Maryland	​	​	Percentage of Ownership				​	​	Jurisdiction or State of Incorporation	​
1920 Rock Spring Road, LLC	​	​	​	​	100%	​	​	​	Maryland	​
Mutual, LLC	​	​	​	​	100%	​	​	​	Maryland	​