FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Assets measured at fair value

		Fair Value Measurements Using						Assets at
(in thousands)		Level 1		Level 2		Level 3		fair value
March 31, 2014
Assets measured at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,642	$	—	$	2,642
U.S. Government agency notes		—		2,571		—		2,571
Municipal bonds		—		40,646		—		40,646
Mortgage-backed securities:
U.S. Government agencies		—		32,436		—		32,436
Collateralized mortgage obligations:
U.S. Government agencies		—		3,345		—		3,345
Non-agency		—		8,021		—		8,021
SBA bonds		—		2,026		—		2,026
Preferred stocks		988		—		—		988
Securities available-for-sale	$	988	$	91,687	$	—	$	92,675
Assets measured at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	9,786	$	9,786
Other real estate owned		—		—		377		377
December 31, 2013
Assets measured at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,657	$	—	$	2,657
U.S. Government agency notes		—		2,590		—		2,590
Municipal bonds		—		40,437		—		40,437
Mortgage-backed securities:
U.S. Government agencies		—		33,892		—		33,892
Collateralized mortgage obligations:
U.S. Government agencies		—		3,580		—		3,580
Non-agency		—		8,308		—		8,308
SBA bonds		—		2,230		—		2,230
Preferred stocks		797		—		—		797
Securities available-for-sale	$	797	$	93,694	$	—	$	94,491
Assets measured at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	9,782	$	9,782
Other real estate owned		—		—		377		377

Carrying value and estimated fair values of financial instruments

		Carrying		Estimated		Fair value measurements using
(in thousands)		value		fair value		Level 1		Level 2		Level 3
March 31, 2014
Financial Assets
Cash and due from banks	$	9,404	$	9,404	$	9,404	$	—	$	—
Securities available-for-sale		92,675		92,675		988		91,687		—
Federal Home Loan Bank stock		5,340		5,340		—		5,340		—
Loans held-for-sale		120		121		—		—		121
Loans receivable, net		446,518		442,073		—		—		442,073
Accrued interest receivable		1,804		1,804		—		—		1,804
Financial Liabilities
Demand (non-interest-bearing)	$	80,935	$	80,935	$	—	$	—	$	80,935
Demand (interest-bearing)		79,330		79,330		—		—		79,330
Money market		123,898		123,898		—		—		123,898
Savings and other		112,306		112,306		—		—		112,306
Certificates of deposit		81,043		81,522		—		—		81,522
Deposits		477,512		477,991		—		—		477,991
FHLBB advances		30,017		32,430		—		—		32,430
Repurchase agreements		2,643		2,643		—		—		2,643
Capital lease liability		425		425		425		—		—
Accrued interest payable		141		141		—		—		141
December 31, 2013
Financial Assets
Cash and due from banks	$	12,711	$	12,711	$	12,711	$	—	$	—
Interest-bearing time deposits with other banks		738		738		—		—		738
Securities available-for-sale		94,491		94,491		797		93,694		—
Federal Home Loan Bank stock		5,340		5,340		—		5,340		—
Loans held-for-sale		173		175		—		—		175
Loans receivable, net		438,178		430,645		—		—		430,645
Accrued interest receivable		1,760		1,760		—		—		1,760
Financial Liabilities
Demand (non-interest-bearing)	$	84,677	$	84,677	$	—	$	—	$	84,677
Demand (interest-bearing)		81,932		81,932		—		—		81,932
Money market		120,550		120,550		—		—		120,550
Savings and other		107,171		107,171		—		—		107,171
Certificates of deposit		83,039		83,520		—		—		83,520
Deposits		477,369		477,850		—		—		477,850
FHLBB advances		30,411		33,034		—		—		33,034
Repurchase agreements		2,554		2,554		—		—		2,554
Capital lease liability		425		425		425		—		—
Accrued interest payable		140		140		—		—		140