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LOANS AND ALLOWANCE (Tables)

9 Months Ended

Sep. 30, 2012

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

	September 30, 2012			December 31, 2011
	(Unaudited)
	(In Thousands)
Residential real estate
Construction	$	6,753		$	8,308
One-to-four family residential		111,330			111,198
Multi-family residential		18,267			18,582
Nonresidential real estate and agricultural land		101,512			83,284
Land (not used for agricultural purposes)		16,540			19,081
Commercial		19,414			17,349
Consumer and other		3,668			3,840
		277,484			261,642
Unamortized deferred loan costs		490			481
Undisbursed loans in process		(20,352	)		(5,024	)
Allowance for loan losses		(3,642	)		(4,003	)
Total loans	$	253,980		$	253,096

Schedule of the activity in the allowance for loan losses

	Residential
	Construction			1-4 Family			Multi-Family		Nonresidential			Land			Commercial		Consumer			Total
	(Unaudited; In Thousands)

Three Months Ended September 30, 2012 Balances at beginning of period:	$	4		$	1,390		$	283	$	1,091		$	730		$	8	$	15		$	3,521
Provision for losses		22			(13	)		5		301			(145	)		82		16			268
Loans charged off		-			(32	)		-		(102	)		-			-		(20	)		(154	)
Recoveries on loans		-			-			-		3			-			-		4			7
Balances at end of period	$	26		$	1,345		$	288	$	1,293		$	585		$	90	$	15		$	3,642

Nine Months Ended September 30, 2012 Balances at beginning of period:	$	23		$	1,986		$	65	$	822		$	993		$	70	$	44		$	4,003
Provision for losses		(1	)		273			223		599			(68	)		20		18			1,064
Loans charged off		-			(994	)		-		(131	)		(340	)		-		(65	)		(1,530	)
Recoveries on loans		4			80			-		3			-			-		18			105
Balances at end of period	$	26		$	1,345		$	288	$	1,293		$	585		$	90	$	15		$	3,642

As of September 30, 2012 Allowance for losses:
Individually evaluated for impairment:	$	-		$	184		$	195	$	45		$	196		$	-	$	-		$	620
Collectively evaluated for impairment:		26			1,161			93		1,248			389			90		15			3,022
Balances at end of period	$	26		$	1,345		$	288	$	1,293		$	585		$	90	$	15		$	3,642
Loans:
Individually evaluated for impairment:	$	121		$	5,176		$	1,118	$	3,824		$	4,429		$	573	$	14		$	15,255
Collectively evaluated for impairment:		6,632			106,154			17,149		97,688			12,111			18,841		3,654			262,229
Balances at end of period	$	6,753		$	111,330		$	18,267	$	101,512		$	16,540		$	19,414	$	3,668		$	277,484

	Residential
	Construction			1-4 Family			Multi-Family			Nonresidential			Land			Commercial			Consumer			Total
	(Unaudited; In Thousands)

Three Months Ended September 30, 2011 Balances at beginning of period:	$	32		$	1,088		$	108		$	1,226		$	959		$	113		$	63		$	3,589
Provision for losses		(11	)		675			23			69			690			(27	)		30			1,449
Loans charged off		-			(116	)		-			(381	)		(736	)		-			(34	)		(1,267	)
Recoveries on loans		-			-			-			-			-			-			9			9
Balances at end of period	$	21		$	1,647		$	131		$	914		$	913		$	86		$	68		$	3,780
Nine Months Ended September 30, 2011 Balances at beginning of period:	$	35		$	746		$	138		$	1,632		$	976		$	157		$	122		$	3,806
Provision for losses		(14	)		1,354			(7	)		290			755			(71	)		(10	)		2,297
Loans charged off		-			(453	)		-			(1,008	)		(818	)		-			(77	)		(2,356	)
Recoveries on loans		-			-			-			-			-			-			33			33
Balances at end of period	$	21		$	1,647		$	131		$	914		$	913		$	86		$	68		$	3,780

	Residential
	Construction		1-4 Family		Multi-Family		Nonresidential		Land		Commercial		Consumer		Total
	(In Thousands)

As of December 31, 2011
Allowance for losses:
Individually evaluated for impairment:	$	-	$	913	$	-	$	-	$	519	$	-	$	-	$	1,432
Collectively evaluated for impairment:		23		1,073		65		822		474		70		44		2,571
Balances at end of period	$	23	$	1,986	$	65	$	822	$	993	$	70	$	44	$	4,003

Loans:
Individually evaluated for impairment:	$	-	$	6,331	$	1,966	$	3,705	$	4,972	$	271	$	17	$	17,262
Collectively evaluated for impairment:		8,308		104,867		16,616		79,579		14,109		17,078		3,823		244,380
Balances at end of period	$	8,308	$	111,198	$	18,582	$	83,284	$	19,081	$	17,349	$	3,840	$	261,642

Schedule of credit risk profile of the Corporation's loan portfolio based on rating category

September 30, 2012	Total Portfolio		Pass		Special Mention		Substandard		Doubtful
	(Unaudited; In Thousands)
Construction	$	6,753	$	6,632	$	-	$	121	$	-
1-4 family residential		111,330		101,551		3,684		6,095		-
Multi-family residential		18,267		17,150		-		1,117		-
Nonresidential		101,512		94,057		3,606		3,849		-
Land		16,540		11,818		258		4,464		-
Commercial		19,414		18,790		3		621		-
Consumer		3,668		3,654		-		14		-
Total Loans	$	277,484	$	253,652	$	7,551	$	16,281	$	-

December 31, 2011	Total Portfolio		Pass		Special Mention		Substandard		Doubtful
	(In Thousands)
Construction	$	8,308	$	8,308	$	-	$	-	$	-
1-4 family residential		111,198		100,827		2,891		7,429		51
Multi-family residential		18,582		16,616		-		1,966		-
Nonresidential		83,284		75,966		3,441		3,877		-
Land		19,081		13,457		505		5,119		-
Commercial		17,349		16,685		329		335		-
Consumer		3,840		3,796		22		22		-
Total Loans	$	261,642	$	235,655	$	7,188	$	18,748	$	51

Schedule of Corporation's loan portfolio aging analysis

September 30, 2012	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days		Total Past Due		Current		Total Loans Receivables		Total Loans 90 Days and Accruing
	(Unaudited; In Thousands)

Construction	$	-	$	-	$	-	$	-	$	6,753	$	6,753	$	-
1-4 family residential		631		118		659		1,408		109,922		111,330		-
Multi-family residential		-		-		-		-		18,267		18,267		-
Nonresidential		149		-		1,300		1,449		100,063		101,512		-
Land		-		-		2,511		2,511		14,029		16,540		-
Commercial		68		500		308		876		18,538		19,414		-
Consumer		9		6		2		17		3,651		3,668		-
	$	857	$	624	$	4,780	$	6,261	$	271,223	$	277,484	$	-

December 31, 2011	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days		Total Past Due		Current		Total Loans Receivables		Total Loans 90 Days and Accruing
	(In Thousands)

Construction	$	335	$	-	$	-	$	335	$	7,973	$	8,308	$	-
1-4 family residential		1,172		26		2,946		4,144		107,054		111,198		-
Multi-family residential		-		-		-		-		18,582		18,582		-
Nonresidential		949		105		1,831		2,885		80,399		83,284		-
Land		8		-		3,080		3,088		15,993		19,081		-
Commercial		41		-		297		338		17,011		17,349		-
Consumer		44		-		3		47		3,793		3,840		-
	$	2,549	$	131	$	8,157	$	10,837	$	250,805	$	261,642	$	-

Schedule of Corporation's nonaccrual loans

	September 30, 2012		December 31, 2011
	(Unaudited)
	(In Thousands)
Residential real estate
Construction	$	121	$	-
One-to-four family residential		2,781		4,304
Multi-family residential		1,117		-
Nonresidential real estate and agricultural land		2,214		2,161
Land (not used for agricultural purposes)		4,429		3,080
Commercial		508		297
Consumer and other		-		21
Total nonaccrual loans	$	11,170	$	9,863

Schedule of principal balances and specific valuation allocations for impaired loans

Impaired loans without a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance

Construction	$	121	$	212	$	-
1-4 family residential		4,234		4,544		-
Multi-family residential		55		55		-
Nonresidential		3,738		4,867		-
Land		2,543		2,963		-
Commercial		573		651		-
Consumer		14		14		-
	$	11,278	$	13,306	$	-

Impaired loans with a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance

Construction	$	-	$	-	$	-
1-4 family residential		942		942		184
Multi-family residential		1,063		1,063		195
Nonresidential		86		231		45
Land		1,886		1,886		196
Commercial		-		-		-
Consumer		-		-		-
	$	3,977	$	4,122	$	620

Total impaired loans:	Recorded Investment		Unpaid Principal Balance		Specific Allowance

Construction	$	121	$	212	$	-
1-4 family residential		5,176		5,486		184
Multi-family residential		1,118		1,118		195
Nonresidential		3,824		5,098		45
Land		4,429		4,849		196
Commercial		573		651		-
Consumer		14		14		-
	$	15,255	$	17,428	$	620

The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans as of December 31, 2011 (in thousands):

Impaired loans without a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance

Construction	$	-	$	-	$	-
1-4 family residential		3,064		3,249		-
Multi-family residential		1,966		1,966		-
Nonresidential		3,705		4,469		-
Land		2,329		2,329		-
Commercial		271		300		-
Consumer		17		17		-
	$	11,352	$	12,330	$	-

Impaired loans with a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance

Construction	$	-	$	-	$	-
1-4 family residential		3,267		3,267		913
Multi-family residential		-		-		-
Nonresidential		-		-		-
Land		2,643		2,643		519
Commercial		-		-		-
Consumer		-		-		-
	$	5,910	$	5,910	$	1,432

Total impaired loans:	Recorded Investment		Unpaid Principal Balance		Specific Allowance

Construction	$	-	$	-	$	-
1-4 family residential		6,331		6,516		913
Multi-family residential		1,966		1,966		-
Nonresidential		3,705		4,469		-
Land		4,972		4,972		519
Commercial		271		300		-
Consumer		17		17		-
	$	17,262	$	18,240	$	1,432

Schedule of information related to the average recorded investment and interest income recognized on impaired loans

	Nine Months Ended September 30, 2012				Nine Months Ended September 30, 2011
	Average Investment		Interest Income Recognized		Average Investment		Interest Income Recognized
	(Unaudited; In Thousands)

Construction	$	77	$	1	$	180	$	1
1-4 family residential		6,231		134		5,904		206
Multi-family residential		759		6		1,978		54
Nonresidential		3,831		55		4,708		120
Land		4,539		-		6,442		86
Commercial		476		16		542		10
Consumer		15		1		7		-
	$	15,928	$	213	$	19,761	$	477

	Three Months Ended September 30, 2012				Three Months Ended September 30, 2011
	Average Investment		Interest Income Recognized		Average Investment		Interest Income Recognized
	(Unaudited; In Thousands)

Construction	$	185	$	1	$	169	$	-
1-4 family residential		5,142		37		6,376		91
Multi-family residential		1,117		1		2,317		32
Nonresidential		4,083		21		4,758		49
Land		4,456		-		6,821		11
Commercial		517		1		342		2
Consumer		14		1		19		1
	$	15,514	$	62	$	20,802	$	186

Schedule of troubled debt restructurings by class

	At September 30, 2012				For the Three-Month Period Ended September 30, 2012								For the Nine-Month Period Ended September 30, 2012
	# of Loans		Total Troubled Debt Restructured		# of Loans		Current Balance		Pre-Modification Recorded Balance		Post-Modification Recorded Balance		# of Loans		Current Balance		Pre-Modification Recorded Balance		Post-Modification Recorded Balance
	(Unaudited; Dollars In Thousands)
Residential Real Estate
Construction		1	$	121		1	$	121	$	76	$	100		1	$	121	$	76	$	100
One-to-four family residential		11		4,113		-		-		-		-		5		1,047		1,204		1,249
Multi-family residential		1		1,063		-		-		-		-		1		1,063		1,068		1,082
Nonresidential real estate and agricultural land		5		2,323		-		-		-		-		-		-		-		-
Land not agricultural		1		1,886		-		-		-		-		-		-		-		-
Commercial		6		226		3		41		33		41		5		205		202		211
Consumer		1		14		-		-		-		-		-		-		-		-
		26	$	9,746		4	$	162	$	109	$	141		12	$	2,436	$	2,550	$	2,642

	At September 30, 2011				For the Three-Month Period Ended September 30, 2011								For the Nine-Month Period Ended September 30, 2011
	# of Loans		Total Troubled Debt Restructured		# of Loans		Current Balance		Pre-Modification Recorded Balance		Post-Modification Recorded Balance		# of Loans		Current Balance		Pre-Modification Recorded Balance		Post-Modification Recorded Balance
	(Unaudited; Dollars In Thousands)
Residential Real Estate
Construction		-	$	-		-	$	-	$	-	$	-		-	$	-	$	-	$	-
One-to-four family residential		8		3,197		2		1,003		1,005		1,003		2		1,003		1,005		1,003
Multi-family residential		1		1,974		-		-		-		-		1		1,974		1,735		1,987
Nonresidential real estate and agricultural land		4		2,076		-		-		-		-		1		956		1,118		956
Land not agricultural		1		2,137		-		-		-		-		-		-		-		-
Commercial		2		71		-		-		-		-		1		23		46		46
Consumer		1		19		-		-		-		-		1		19		19		19
		17	$	9,474		2	$	1,003	$	1,005	$	1,003		6	$	3,975	$	3,923	$	4,011