FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2017

FAIR VALUE MEASUREMENT [Abstract]

Summary of Fair Value Measurements of Assets Measured on a Recurring Basis

The following tables summarize the fair value of assets measured on a recurring basis:

	Fair Value Measurements at the End of the Reporting Period Using:
September 30, 2017	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Assets:	(in thousands)
Investment securities available-for-sale	$	146	$	29,781	$	—	$	29,927
Interest only strips		—		—		96		96
Servicing assets		—		—		118		118
	$	146	$	29,781	$	214	$	30,141

	Fair Value Measurements at the End of the Reporting Period Using:
December 31, 2016	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Assets:	(in thousands)
Investment securities available-for-sale	$	115	$	22,566	$	—	$	22,681
Interest only strips		—		—		119		119
Servicing assets		—		—		158		158
	$	115	$	22,566	$	277	$	22,958

Summary of Fair Value Measurements of Assets Measured on a Non-recurring Basis

The following summarizes the fair value measurements of assets measured on a non-recurring basis:

			Fair Value Measurements at the End of the Reporting Period Using:
		Total	Quoted Prices in Active Markets for Identical Assets (Level 1)			Active Markets for Similar Assets (Level 2)			Unobservable Inputs (Level 3)
	(in thousands)
September 30, 2017:
Impaired loans	$	3,381		$	—		$	3,381		$	—
Foreclosed real estate and repossessed assets		486			—			486			—
	$	3,867		$	—		$	3,867		$	—

			Fair Value Measurements at the End of the Reporting Period Using:
		Total	Quoted Prices in Active Markets for Identical Assets (Level 1)			Active Markets for Similar Assets (Level 2)			Unobservable Inputs (Level 3)
	(in thousands)
December 31, 2016:
Impaired loans	$	2,008		$	—		$	2,008		$	—
Foreclosed real estate and repossessed assets		137			—			137			—
	$	2,145		$	—		$	2,145		$	—

Estimated Fair Values and Carrying Values of Financial Instruments

The estimated fair value of the Company’s financial instruments are as follows:

	September 30, 2017
	Carrying			Fair Value
	Amount			Level 1		Level 2		Level 3		Total
Financial assets:	(in thousands)
Cash and cash equivalents		$	51,571	$	51,571	$	—	$	—	$	51,571
FRB and FHLB stock			3,720		—		3,720		—		3,720
Investment securities			38,117		146		38,165		—		38,311
Loans, net			714,383		—		700,025		10,246		710,271
Financial liabilities:
Deposits			697,154		—		670,435		—		670,435
Other borrowings			55,843		—		55,842		—		55,842

	December 31, 2016
	Carrying			Fair Value
	Amount			Level 1		Level 2		Level 3		Total
Financial assets:	(in thousands)
Cash and cash equivalents		$	34,116	$	34,116	$	—	$	—	$	34,116
FRB and FHLB stock			3,443		—		3,443		—		3,443
Investment securities			31,683		115		31,715		—		31,830
Loans, net			623,355		—		599,919		14,775		614,694
Financial liabilities:
Deposits			612,236		—		612,215		—		612,215
Other borrowings			29,000		—		28,999		—		28,999