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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and due from banks $ 4,829 $ 6,694
Interest bearing demand deposits with other banks 32,057 20,214
Total cash and cash equivalents 36,886 26,908
Interest bearing time deposits with other banks    5,000
Securities    
Available-for-sale at fair value 155,794 147,422
Held-to-maturity at amortized cost (fair value: $52 and $58) 50 56
Federal Home Loan Bank of Boston stock at cost 6,032 6,032
Loans held-for-sale 948 1,184
Loans receivable, net (allowance for loan losses: $4,076 and $3,920) 370,766 352,449
Investment in real estate    75
Other real estate owned 2,744 610
Bank premises and equipment, net 12,023 12,254
Goodwill 9,829 9,829
Intangible assets (net of accumulated amortization: $1,523 and $1,301) 1,020 1,242
Accrued interest receivable 2,126 2,132
Cash surrender value of life insurance policies 7,037 3,854
Deferred taxes 829 2,540
Other assets 3,200 3,883
Total Assets 609,284 575,470
Deposits    
Demand (non-interest bearing) 82,202 71,565
Demand (interest bearing) 66,332 63,258
Money market 124,566 77,089
Savings and other 94,503 93,324
Certificates of deposit 103,703 125,053
Total deposits 471,306 430,289
Repurchase agreements 12,148 13,190
Federal Home Loan Bank of Boston advances 54,615 72,812
Accrued interest and other liabilities 4,353 4,163
Total Liabilities 542,422 520,454
Shareholders' Equity    
Preferred stock - $.01 per share par value Authorized: 25,000; Issued: 16,000 (Series B) and 8,816 (Series A); Liquidation preference: $1,000 per share 16,000 8,738
Common stock - $.10 per share par value Authorized: 3,000,000; Issued: 1,688,731 and 1,687,661 169 168
Common stock warrants outstanding    112
Paid-in capital 13,134 13,200
Retained earnings 38,264 36,567
Accumulated other comprehensive loss, net (705) (3,769)
Total Shareholders' Equity 66,862 55,016
Total Liabilities and Shareholders' Equity $ 609,284 $ 575,470