Exhibit 4.1


	
  COMMON STOCK

  	
   

  	
   

  	
   

  	
  COMMON STOCK

  
	
  CERTIFICATE NO.

  	
   

  	
   

  	
   

  	
  SEE REVERSE FOR CERTAIN DEFINITIONS

  
	
   

  	
   

  	
   

  	
   

  	
  CUSIP

  	
   

  	
   

  



 


BRADFORD BANCORP, INC.


INCORPORATED
UNDER THE LAWS OF THE STATE OF MARYLAND


	
  THIS CERTIFIES THAT

  	
   

  	
  [SPECIMEN]

  	
   

  	
   

  



 


is the owner of:


FULLY PAID AND
NONASSESSABLE SHARES OF COMMON STOCK, $0.01 PAR VALUE

PER SHARE, OF BRADFORD BANCORP, INC.


The
shares represented by this certificate are transferable only on the stock
transfer books of Bradford Bancorp, Inc. (the “Company”) by the holder of
record hereof, or by his duly authorized attorney or legal representative, upon
the surrender of this certificate properly endorsed.  This certificate and the shares represented
hereby are issued and shall be held subject to all the provisions of the
Articles of Incorporation of the Company and any amendments thereto (copies of
which are on file with the Corporate Secretary of the Company), to all of which
provisions the holder by acceptance hereof, assents.  This certificate is not valid until
countersigned and registered by the Company’s Transfer Agent and Registrar.


The shares evidenced by this
certificate are not of an insurable type and are not insured by the Federal
Deposit Insurance Corporation.


IN WITNESS WHEREOF, BRADFORD BANCORP, INC. has
caused this certificate to be executed by the facsimile signatures of its duly
authorized officers and has caused a facsimile of its corporate seal to be
hereunto affixed.


	
  Dated:

  	
   

  	
   

  	
   

  	
  [SEAL]

  	
   

  	
   

  



 


	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  President and Chief Executive Officer

  	
   

  	
  Corporate Secretary

  



 











The
shares represented by this certificate are subject to a limitation contained in
the Articles of Incorporation to the effect that in no event shall any record
owner of any outstanding common stock which is beneficially owned, directly or
indirectly, by a person who beneficially owns in excess of 10% of the
outstanding shares of common stock (the “Limit”) be entitled or permitted to
any vote in respect of shares held in excess of the Limit.


The
Board of Directors of the Company is authorized by resolution(s), from time to
time adopted, to provide for the issuance of serial preferred stock in series
and to fix and state the voting powers, designations, preferences and relative,
participating, optional, or other special rights of the shares of each such
series and the qualifications, limitations and restrictions thereof.  The Company will furnish to any shareholder
upon request and without charge a full description of each class of stock and
any series thereof.


The
shares represented by this Certificate may not be cumulatively voted on any
matter.


The
following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:


	
  TEN COM

  	
  –

  	
  as tenants in common

  	
   

  	
  UNIF
  GIFTS MIN ACT

  	
  –

  	
   

  	
  custodian

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (Cust)

  	
   

  
	
  (Minor)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TEN ENT

  	
  –

  	
  as tenants by the entireties

  	
   

  	
  under Uniform Gifts to
  Minors Act

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (State)

  
	
  JT TEN

  	
  –

  	
  as joint tenants with right of

  survivorship and not as tenants

  in common

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Additional
  abbreviations may also be used though not in the above list.

  	
   

  	
   

  	
   

  	
   

  



 


For value received
__________ hereby sell, assign and transfer unto


PLEASE
INSERT SOCIAL SECURITY OR OTHER


IDENTIFICATION
NUMBER OF ASSIGNEE






Please print or typewrite name and address including postal zip code of
assignee.


__________________________________________________ shares of the common
stock represented by this certificate and do hereby irrevocably constitute and
appoint ___________________________________________________________, attorney,
to transfer the said stock on the books of the within-named corporation with
full power of substitution in the premises.


	
  DATED

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  NOTICE:
  The signature to this assignment must correspond with the name as written
  upon the face of the certificate in every particular without alteration or
  enlargement or any change whatever.

  



 


	
  SIGNATURE GUARANTEED:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  THE SIGNATURE(S) SHOULD BE
  GUARANTEED BY AN ELIGIBLE GUARANTOR 
  INSTITUTION, (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
  CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
  PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15