FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Assets at fair value

(in thousands)	Fair Value Measurements Using			Assets at fair value
	Level 1	Level 2	Level 3
June 30, 2012
Assets at fair value on a recurring basis
U.S. Treasury notes	$             -	$      2,747	$              -	$      2,747
U.S. Government agency notes	-	12,801	-	12,801
Municipal bonds	-	47,164	-	47,164
Mortgage-backed securities:
U.S. Government agencies	-	50,483	-	50,483
Collateralized mortgage obligations:
U.S. Government agencies	-	6,187	-	6,187
Non-agency	-	12,871	-	12,871
SBA bonds	-	3,266	-	3,266
Preferred stocks	118	25	-	143
Securities available-for-sale	$        118	$  135,544	$              -	$  135,662
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$             -	$             -	$      4,103	$      4,103
December 31, 2011
Assets at fair value on a recurring basis
U.S. Treasury notes	$             -	$      5,528	$              -	$      5,528
U.S. Government agency notes	-	14,924	-	14,924
Municipal bonds	-	50,796	-	50,796
Mortgage-backed securities:
U.S. Government agencies	-	58,300	-	58,300
Collateralized mortgage obligations:
U.S. Government agencies	-	7,153	-	7,153
Non-agency	-	14,167	-	14,167
SBA bonds	-	3,706	-	3,706
Corporate bonds	-	1,104	-	1,104
Preferred stocks	116	-	-	116
Securities available-for-sale	$         116	$  155,678	$              -	$  155,794
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$             -	$             -	$      5,443	$      5,443
Other real estate owned	-	-	2,744	2,744

Estimated fair value of financial instruments

(in thousands)	Carrying value	Estimated fair value	Fair value measurements using
			Level 1	Level 2	Level 3
June 30, 2012
Financial Assets
Cash and due from banks	$   43,975	$   43,975	$   43,975	$            -	$             -
Securities available-for-sale	135,662	135,662	118	135,544	-
Federal Home Loan Bank stock	5,747	5,747	-	5,747	-
Loans held-for-sale	3,155	3,155	-	-	3,155
Loans receivable net	377,212	381,052	-	-	381,052
Accrued interest receivable	2,652	2,652	-	-	2,652
Financial Liabilities
Demand (non-interest-bearing)	$   87,615	$   87,615	$            -	$            -	$   87,615
Demand (interest-bearing)	62,728	62,728	-	-	62,728
Money market	130,976	130,976	-	-	130,976
Savings and other	97,147	97,147	-	-	97,147
Certificates of deposit	99,444	100,981	-	-	100,981
Deposits	477,910	479,447	-	-	479,447
FHLBB advances	42,801	42,801	-	-	42,801
Repurchase agreements	6,181	6,181	-	-	6,181
Accrued interest payable	215	215	-	-	215
December 31, 2011
Financial Assets
Cash and due from banks	$   36,886	$   36,886	$  36,886	$            -	$             -
Securities available-for-sale	155,794	155,794	116	155,678	-
Security held-to-maturity	50	52	-	52	-
Federal Home Loan Bank stock	6,032	6,032	-	-	6,032
Loans held-for-sale	948	955	-	-	955
Loans receivable net	370,766	373,071	-	-	373,071
Accrued interest receivable	2,126	2,126	-	-	2,126
Financial Liabilities
Demand (non-interest-bearing)	$   82,202	$   82,202	$            -	$            -	$   82,202
Demand (interest-bearing)	66,332	66,332	-	-	66,332
Money market	124,566	124,566	-	-	124,566
Savings and other	94,503	94,503	-	-	94,503
Certificates of deposit	103,703	104,466	-	-	104,466
Deposits	471,306	472,069	-	-	472,069
FHLBB advances	54,615	58,808	-	-	58,808
Repurchase agreements	12,148	12,148	-	-	12,148
Accrued interest payable	271	271	-	-	271