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LOANS AND ALLOWANCE (Tables)
 6 Months Ended
Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of breakdown of loans
 
  
June 30, 2014
    
December 31, 2013
  
 
  
(Unaudited)
    
 
  
 
 
  
 
(In Thousands)
  
Construction/Land
  
$
25,379
    
$
24,307
  
One-to-four family residential
    
 
134,536
      
 
137,298
  
Multi-family residential
    
 
17,901
      
 
16,408
  
Nonresidential
    
 
113,637
      
 
118,946
  
Commercial
    
 
26,435
      
 
24,741
  
Consumer
    
 
4,045
      
 
4,326
  
 
    
 
321,933
      
 
326,026
  
Unamortized deferred loan costs
    
 
502
      
 
487
  
Undisbursed loans in process
    
(1,370
)
    
(5,775
)
Allowance for loan losses
    
(3,762
)
    
(4,510
)
Total loans
  
$
317,303
    
$
316,228
  

 
Schedule of the activity in the allowance for loan losses
 
 
  
Construction/ Land
    
1-4 Family
    
Multi-Family
    
Nonresidential
    
Commercial
    
Consumer
    
Total
  
 
  
(Unaudited; In Thousands)
  
Three Months Ended
June 30, 2014
Balances at beginning of period:
  
$
694
    
$
1,524
    
$
414
    
$
1,378
    
$
176
    
$
10
    
$
4,196
  
Provision for losses
    
(18
)
    
(33
)
    
400
      
(311
)
    
(31
)
    
17
      
24
  
Loans charged off
    
-
      
(137
)
    
(511
)
    
(61
)
    
-
      
(35
)
    
(744
)
Recoveries on loans
    
-
      
37
      
-
      
226
      
7
      
16
      
286
  
Balances at end of period
  
$
676
    
$
1,391
    
$
303
    
$
1,232
    
$
152
    
$
8
    
$
3,762
  
 
                                                        
Six Months Ended
June 30, 2014
Balances at beginning of period:
  
$
676
    
$
1,749
    
$
404
    
$
1,470
    
$
189
    
$
22
    
$
4,510
  
Provision for losses
    
-
      
223
      
410
      
(404
)
    
(51
)
    
20
      
198
  
Loans charged off
    
-
      
(621
)
    
(511
)
    
(72
)
    
-
      
(73
)
    
(1,277
)
Recoveries on loans
    
-
      
40
      
-
      
238
      
14
      
39
      
331
  
Balances at end of period
  
$
676
    
$
1,391
    
$
303
    
$
1,232
    
$
152
    
$
8
    
$
3,762
  
 
                                                        
As of June 30, 2014
Allowance for losses:
                                                        
Individually evaluated for impairment:
  
$
195
    
$
174
    
$
196
    
$
97
    
$
58
    
$
-
    
$
720
  
Collectively evaluated for impairment:
    
481
      
1,033
      
107
      
1,078
      
94
      
8
      
2,801
  
Loans acquired with a deteriorated credit quality:
    
-
      
184
      
-
      
57
      
-
      
-
      
241
  
Balances at end of period
  
$
676
    
$
1,391
    
$
303
    
$
1,232
    
$
152
    
$
8
    
$
3,762
  
 
                                                        
Loans:
                                                        
Individually evaluated for impairment:
  
$
4,055
    
$
4,935
    
$
1,004
    
$
3,995
    
$
298
    
$
-
    
$
14,287
  
Collectively evaluated for impairment:
    
20,937
      
128,570
      
16,897
      
109,222
      
26,126
      
4,027
      
305,779
  
Loans acquired with a deteriorated credit quality:
    
387
      
1,031
      
-
      
420
      
11
      
18
      
1,867
  
Balances at end of period
  
$
25,379
    
$
134,536
    
$
17,901
    
$
113,637
    
$
26,435
    
$
4,045
    
$
321,933
  
 
                                                        
 
 
  
Construction/ Land
    
1-4 Family
    
Multi-Family
    
Nonresidential
    
Commercial
    
Consumer
    
Total
  
 
  
(Unaudited; In Thousands)
  
 
  
 
    
 
    
 
    
 
    
 
    
 
    
 
  
Three Months Ended
June 30, 2013
Balances at beginning of period:
  
$
757
    
$
1,534
    
$
278
    
$
1,179
    
$
135
    
$
1
    
$
3,884
  
Provision for losses
    
(84
)
    
305
      
19
      
(97
)
    
144
      
31
      
318
  
Loans charged off
    
-
      
(21
)
    
-
      
-
      
(138
)
    
(43
)
    
(202
)
Recoveries on loans
    
-
      
3
      
-
      
20
      
-
      
13
      
36
  
Balances at end of period
  
$
673
    
$
1,821
    
$
297
    
$
1,102
    
$
141
    
$
2
    
$
4,036
  
 
                                                        
Six Months Ended
June 30, 2013
Balances at beginning of period:
  
$
649
    
$
1,423
    
$
281
    
$
1,077
    
$
132
    
$
2
    
$
3,564
  
Provision for losses
    
67
      
482
      
16
      
(114
)
    
146
      
39
      
636
  
Loans charged off
    
(61
)
    
(87
)
    
-
      
(175
)
    
(137
)
    
(74
)
    
(534
)
Recoveries on loans
    
18
      
3
      
-
      
314
      
-
      
35
      
370
  
Balances at end of period
  
$
673
    
$
1,821
    
$
297
    
$
1,102
    
$
141
    
$
2
    
$
4,036
  
 
                                                        
 
 
  
Construction/
Land
    
1-4 Family
    
Multi-Family
    
Nonresidential
    
Commercial
    
Consumer
    
Total
  
 
  
(In Thousands)
  
 
                                                        
As of December 31, 2013
Allowance for losses:
                                                        
Individually evaluated for impairment:
  
$
195
    
$
552
    
$
196
    
$
97
    
$
68
    
$
-
    
$
1,108
  
Collectively evaluated for impairment:
    
481
      
1,101
      
110
      
1,305
      
120
      
21
      
3,138
  
Loans acquired with a deteriorated credit quality:
    
-
      
96
      
98
      
68
      
1
      
1
      
264
  
Balances at end of period
  
$
676
    
$
1,749
    
$
404
    
$
1,470
    
$
189
    
$
22
    
$
4,510
  
 
                                                        
Loans:
                                                        
Individually evaluated for impairment:
  
$
4,104
    
$
5,917
    
$
1,074
    
$
4,096
    
$
372
    
$
-
    
$
15,563
  
Collectively evaluated for impairment:
    
19,866
      
130,100
      
14,834
      
114,145
      
24,354
      
4,307
      
307,606
  
Loans acquired with a deteriorated credit quality:
    
337
      
1,281
      
500
      
705
      
15
      
19
      
2,857
  
Balances at end of period
  
$
24,307
    
$
137,298
    
$
16,408
    
$
118,946
    
$
24,741
    
$
4,326
    
$
326,026
  
 
                                                        
 
Schedule of credit risk profile of the corporation's loan portfolio based on rating category
June 30, 2014
 
  
Total Portfolio
    
Pass
    
Special Mention
    
Substandard
    
Doubtful
  
 
  
(Unaudited; In Thousands)
  
 
Construction/Land
  
$
25,379
    
$
21,164
    
$
32
    
$
4,183
    
$
-
  
1-4 family residential
    
134,536
      
124,143
      
3,930
      
6,309
      
154
  
Multi-family residential
    
17,901
      
16,854
      
43
      
1,004
      
-
  
Nonresidential
    
113,637
      
107,052
      
2,833
      
3,596
      
156
  
Commercial
    
26,435
      
26,032
      
92
      
246
      
65
  
Consumer
    
4,045
      
4,035
      
-
      
10
      
-
  
Total loans
  
$
321,933
    
$
299,280
    
$
6,930
    
$
15,348
    
$
375
  
 
December 31, 2013
 
  
Total Portfolio
    
Pass
    
Special Mention
    
Substandard
    
Doubtful
  
 
  
(In Thousands)
  
 
Construction/Land
  
$
24,307
    
$
20,023
    
$
33
    
$
4,251
    
$
-
  
1-4 family residential
    
137,298
      
124,765
      
4,144
      
7,691
      
698
  
Multi-family residential
    
16,408
      
14,798
      
44
      
1,566
      
-
  
Nonresidential
    
118,946
      
110,622
      
2,686
      
5,066
      
572
  
Commercial
    
24,741
      
24,341
      
8
      
316
      
76
  
Consumer
    
4,326
      
4,301
      
-
      
25
      
-
  
Total loans
  
$
326,026
    
$
298,850
    
$
6,915
    
$
18,915
    
$
1,346
  
 
Schedule of corporation's loan portfolio aging analysis
June 30, 2014
  
30-59 Days Past Due
    
60-89 Days Past Due
    
Greater than 90 Days
    
Total Past Due
    
Current
    
Purchased Credit Impaired Loans
    
Total Loans Receivables
  
 
  
(Unaudited; In Thousands)
  
 
Construction/Land
  
$
6
    
$
207
    
$
237
    
$
450
    
$
24,542
    
$
387
    
$
25,379
  
1-4 family residential
    
798
      
2,608
      
1,116
      
4,522
      
128,983
      
1,031
      
134,536
  
Multi-family residential
    
-
      
-
      
-
      
-
      
17,901
      
-
      
17,901
  
Nonresidential
    
418
      
195
      
2,378
      
2,991
      
110,226
      
420
      
113,637
  
Commercial
    
26
      
35
      
85
      
146
      
26,278
      
11
      
26,435
  
Consumer
    
38
      
15
      
1
      
54
      
3,973
      
18
      
4,045
  
 
  
$
1,286
    
$
3,060
    
$
3,817
    
$
8,163
    
$
311,903
    
$
1,867
    
$
321,933
  
 
December 31, 2013
  
30-59 Days Past Due
    
60-89 Days Past Due
    
Greater than 90 Days
    
Total Past Due
    
Current
    
Purchased Credit Impaired Loans
    
Total Loans Receivables
  
 
  
(In Thousands)
  
 
Construction/Land
  
$
207
    
$
-
    
$
71
    
$
278
    
$
23,692
    
$
337
    
$
24,307
  
1-4 family residential
    
458
      
671
      
2,322
      
3,451
      
132,566
      
1,281
      
137,298
  
Multi-family residential
    
-
      
-
      
-
      
-
      
15,908
      
500
      
16,408
  
Nonresidential
    
267
      
398
      
940
      
1,605
      
116,636
      
705
      
118,946
  
Commercial
    
66
      
-
      
96
      
162
      
24,564
      
15
      
24,741
  
Consumer
    
104
      
7
      
7
      
118
      
4,189
      
19
      
4,326
  
 
  
$
1,102
    
$
1,076
    
$
3,436
    
$
5,614
    
$
317,555
    
$
2,857
    
$
326,026
  
 
Schedule of corporation's nonaccrual loans
 
  
June 30, 2014
    
December 31, 2013
  
 
 
  
 
(Unaudited)
    
 
 
  
Construction/Land
  
$
3,634
    
$
3,864
  
One-to-four family residential
    
 
4,681
      
 
3,833
  
Multi-family residential
    
 
1,004
      
 
1,073
  
Nonresidential and agricultural land
    
 
3,561
      
 
2,377
  
Commercial
    
 
255
      
 
362
  
Consumer and other
    
 
-
      
 
5
  
Total nonaccrual loans
  
$
13,135
    
$
11,514
  
 
Schedule of principal balances and specific valuation allocations for impaired loans
The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans, as of June 30, 2014 (unaudited; in thousands):
Impaired loans without a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
2,239
    
$
2,477
    
$
-
  
1-4 family residential
    
 
4,379
      
 
4,389
      
 
-
  
Multi-family residential
    
 
-
      
 
-
      
 
-
  
Nonresidential
    
 
3,112
      
 
3,385
      
 
-
  
Commercial
    
 
195
      
 
203
      
 
-
  
Consumer
    
 
-
      
 
-
      
 
-
  
 
  
$
9,925
    
$
10,454
    
$
-
  

 
Impaired loans with a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
1,816
    
$
1,830
    
$
195
  
1-4 family residential
    
 
556
      
 
572
      
 
174
  
Multi-family residential
    
 
1,004
      
 
1,021
      
 
196
  
Nonresidential
    
 
883
      
 
883
      
 
97
  
Commercial
    
 
103
      
 
242
      
 
58
  
Consumer
    
 
-
      
 
-
      
 
-
  
 
 
  
$
4,362
    
$
4,548
    
$
720
  
 
 
Total impaired loans:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction Land
  
$
4,055
    
$
4,307
    
$
195
  
1-4 family residential
    
 
4,935
      
 
4,961
      
 
174
  
Multi-family residential
    
 
1,004
      
 
1,021
      
 
196
  
Nonresidential
    
 
3,995
      
 
4,268
      
 
97
  
Commercial
    
 
298
      
 
445
      
 
58
  
Consumer
    
 
-
      
 
-
      
 
-
  
 
  
$
14,287
    
$
15,002
    
$
720
  
 
The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans as of December 31, 2013 (in thousands).
Impaired loans without a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
2,286
    
$
2,516
    
$
-
  
1-4 family residential
    
 
4,154
      
 
4,184
      
 
-
  
Multi-family residential
    
 
52
      
 
53
      
 
-
  
Nonresidential
    
 
3,194
      
 
3,672
      
 
-
  
Commercial
    
 
237
      
 
395
      
 
-
  
Consumer
    
 
-
      
 
-
      
 
-
  
 
 
 
  
$
9,923
    
$
10,820
    
$
-
  
 
Impaired loans with a specific allowance:
  
Recorded Investment
    
 
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
1,818
    
$
1,831
    
$
195
  
1-4 family residential
    
 
1,763
      
 
1,784
      
 
552
  
Multi-family residential
    
 
1,022
      
 
1,038
      
 
196
  
Nonresidential
    
 
902
      
 
902
      
 
97
  
Commercial
    
 
135
      
 
143
      
 
68
  
Consumer
    
 
-
      
 
-
      
 
-
  
 
 
 
  
$
5,640
    
$
5,698
    
$
1,108
  
 
Total impaired loans:
  
Recorded Investment
    
 
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
4,104
    
$
4,347
    
$
195
  
1-4 family residential
    
 
5,917
      
 
5,968
      
 
552
  
Multi-family residential
    
 
1,074
      
 
1,091
      
 
196
  
Nonresidential
    
 
4,096
      
 
4,574
      
 
97
  
Commercial
    
 
372
      
 
538
      
 
68
  
Consumer
    
 
-
      
 
-
      
 
-
  
 
 
 
  
$
15,563
    
$
16,518
    
$
1,108
  
 
Schedule of information related to the average recorded investment and interest income recognized on impaired loans
 
  
Three Months Ended
June 30, 2014
    
Three Months Ended
June 30, 2013
  
 
  
Average Investment
    
Interest Income Recognized
    
Average Investment
    
Interest Income Recognized
  
 
  
(Unaudited; In Thousands)
 
  
Construction/Land
  
$
4,088
    
$
45
    
$
4,834
    
$
67
  
1-4 family residential
    
 
4,977
      
 
46
      
 
5,243
      
 
58
  
Multi-family residential
    
 
1,004
      
 
7
      
 
1,088
      
 
13
  
Nonresidential
    
 
3,890
      
 
37
      
 
4,726
      
 
120
  
Commercial
    
 
334
      
 
10
      
 
417
      
 
20
  
Consumer
    
 
-
      
 
-
      
 
11
      
 
-
  
 
 
 
  
$
14,293
    
$
145
    
$
16,319
    
$
278
  
 
 
  
 
Six Months Ended
June 30, 2014
    
Six Months Ended
June 30, 2013
  
 
  
Average Investment
    
Interest Income Recognized
    
Average Investment
    
Interest Income Recognized
  
 
  
(Unaudited; In Thousands)
  
 
Construction/Land
  
$
4,141
    
$
79
    
$
4,597
    
$
72
  
1-4 family residential
    
 
5,311
      
 
93
      
 
4,770
      
 
90
  
Multi-family residential
    
 
1,021
      
 
12
      
 
1,090
      
 
13
  
Nonresidential
    
 
3,982
      
 
64
      
 
3,745
      
 
136
  
Commercial
    
 
347
      
 
11
      
 
480
      
 
20
  
Consumer
    
 
-
      
 
-
      
 
11
      
 
1
  
 
 
 
  
$
14,802
    
$
259
    
$
14,693
    
$
332
  

 
Schedule of troubled debt restructurings by class
 
  
For the Three Months Ended June 30, 2014
  
 
  
Number of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
 
  
(Unaudited; In Thousands)
  
 
  
 
    
 
    
 
  
Construction/Land
    
1
    
$
2,229
    
$
2,270
  
One-to-four family residential
    
3
      
229
      
228
  
Multi-family residential
    
1
      
1,068
      
1,083
  
Nonresidential and agricultural land
    
1
      
200
      
163
  
Commercial
    
3
      
71
      
71
  
Consumer
    
-
      
-
      
-
  
 
    
9
    
$
3,797
    
$
3,815
  
 
 
  
For the Three Months Ended June 30, 2013
  
 
  
Number of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
 
  
(Unaudited; In Thousands)
  
 
  
 
    
 
    
 
  
Construction/Land
    
1
    
$
103
    
$
101
  
One-to-four family residential
    
2
      
176
      
190
  
Multi-family residential
    
-
      
-
      
-
  
Nonresidential and agricultural land
    
-
      
-
      
-
  
Commercial
    
-
      
-
      
-
  
Consumer
    
-
      
-
      
-
  
 
    
3
    
$
279
    
$
291
  
 
 
  
For the Six Months Ended June 30, 2014
  
 
  
Number of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
 
  
(Unaudited; In Thousands)
  
 
Construction/Land
    
2
    
$
2,448
    
$
2,488
  
One-to-four family residential
    
6
      
2,121
      
2,391
  
Multi-family residential
    
1
      
1,068
      
1,083
  
Nonresidential and agricultural land
    
1
      
200
      
163
  
Commercial
    
4
      
71
      
87
  
Consumer
    
-
      
-
      
-
  
 
    
14
    
$
5,908
    
$
6,212
  
 
 
  
 
For the Six Months Ended June 30, 2013
  
 
  
Number of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
 
Construction/Land
    
3
    
$
103
    
$
272
  
One-to-four family residential
    
8
      
416
      
434
  
Multi-family residential
    
-
      
-
      
-
  
Nonresidential and agricultural land
    
2
      
935
      
935
  
Commercial
    
4
      
37
      
98
  
Consumer
    
-
      
-
      
-
  
 
    
17
    
$
1,491
    
$
1,739
  
 
Schedule of troubled debt restructurings by type of modification
 
June 30, 2014
Interest Only
Term
Combination
Total Modifications
 
(Unaudited; In Thousands)
Construction/Land
$
-
$
-
$
2,270
$
2,270
One-to-four family residential
-
14
214
228
Multi-family residential
-
-
1,083
1,083
Nonresidential
-
-
163
163
Commercial
-
-
71
71
Consumer
-
-
-
-
 
$
-
$
14
$
3,801
$
3,815
 
 
 
June 30, 2013
Interest Only
Term
Combination
Total Modifications
 
(Unaudited; In Thousands)
Construction/Land
$
-
$
101
$
-
$
101
One-to-four family residential
-
190
-
190
Multi-family residential
-
-
-
-
Nonresidential
-
-
-
-
Commercial
-
-
-
-
Consumer
-
-
-
-
 
$
-
$
291
$
-
$
291