FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2014
Assets measured at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,635	$	—	$	2,635
U.S. Government agency notes		—		2,544		—		2,544
Municipal bonds		—		38,808		—		38,808
Mortgage-backed securities:
U.S. Government agencies		—		31,079		—		31,079
Collateralized mortgage obligations:
U.S. Government agencies		—		3,104		—		3,104
Non-agency		—		7,443		—		7,443
SBA bonds		—		1,858		—		1,858
Preferred stock		985		—		—		985
Securities available-for-sale	$	985	$	87,471	$	—	$	88,456
Assets measured at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	10,250	$	10,250
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 stock		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
June 30, 2014
Financial Assets
Cash and due from banks	$	34,908	$	34,908	$	34,908	$	—	$	—
Securities available-for-sale		88,456		88,456		985		87,471		—
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans receivable, net		456,627		453,746		—		—		453,746
Accrued interest receivable		1,733		1,733		—		—		1,733
Financial Liabilities
Demand (non-interest-bearing)	$	93,768	$	93,768	$	—	$	—	$	93,768
Demand (interest-bearing)		83,631		83,631		—		—		83,631
Money market		125,732		125,732		—		—		125,732
Savings and other		117,890		117,890		—		—		117,890
Certificates of deposit		86,340		86,992		—		—		86,992
Deposits		507,361		508,013		—		—		508,013
FHLBB advances		29,619		31,894		—		—		31,894
Repurchase agreements		4,344		4,344		—		—		4,344
Capital lease liability		425		425		425		—		—
Accrued interest payable		136		136		—		—		136
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