FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 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
September 30, 2014
Assets measured at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,620	$	—	$	2,620
U.S. Government agency notes		—		2,517		—		2,517
Municipal bonds		—		38,890		—		38,890
Mortgage-backed securities:
U.S. Government agencies		—		29,001		—		29,001
Collateralized mortgage obligations:
U.S. Government agencies		—		2,874		—		2,874
Non-agency		—		6,927		—		6,927
SBA bonds		—		1,679		—		1,679
Preferred stock		937		—		—		937
Securities available-for-sale	$	937	$	84,508	$	—	$	85,445
Assets measured at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	10,879	$	10,879
Other real estate owned		—		—		333		333
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
September 30, 2014
Financial Assets
Cash and due from banks	$	48,825	$	48,825	$	48,825	$	—	$	—
Securities available-for-sale		85,445		85,445		937		84,508		—
Federal Home Loan Bank stock		3,515		3,515		—		3,515		—
Loans receivable, net		461,913		459,425		—		—		459,425
Accrued interest receivable		1,834		1,834		—		—		1,834
Financial Liabilities
Demand (non-interest-bearing)	$	99,843	$	99,843	$	—	$	—	$	99,843
Demand (interest-bearing)		81,877		81,877		—		—		81,877
Money market		132,471		132,471		—		—		132,471
Savings and other		122,836		122,836		—		—		122,836
Certificates of deposit		85,267		85,972		—		—		85,972
Deposits		522,294		522,999		—		—		522,999
FHLBB advances		29,218		31,191		—		—		31,191
Repurchase agreements		6,500		6,500		—		—		6,500
Capital lease liability		424		925		925		—		—
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