FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2015

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, 2015
Assets at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,797	$	—	$	2,797
U.S. Government agency notes		—		3,003		—		3,003
Municipal bonds		—		35,409		—		35,409
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		26,338		—		26,338
Collateralized mortgage obligations:
U.S. Government agencies		—		2,513		—		2,513
Non-agency		—		6,253		—		6,253
SBA bonds		—		3,985		—		3,985
CRA mutual funds		—		512		—		512
Preferred stock		369		—		—		369
Securities available-for-sale	$	369	$	80,810	$	—	$	81,179
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans		—		—		10,445		10,445
Other real estate owned		—		—		875		875
December 31, 2014
Assets at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,806	$	—	$	2,806
U.S. Government agency notes		—		5,874		—		5,874
Municipal bonds		—		40,352		—		40,352
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		27,709		—		27,709
Collateralized mortgage obligations:
U.S. Government agencies		—		2,679		—		2,679
Non-agency		—		6,596		—		6,596
SBA bonds		—		4,465		—		4,465
CRA mutual funds		—		504		—		504
Preferred stock		327		—		—		327
Securities available-for-sale	$	327	$	90,985	$	—	$	91,312
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	10,463	$	10,463
Other real estate owned		—		—		1,002		1,002

Carrying value and estimated fair values of financial instruments

(in thousands)	Carrying		Estimated		Fair value measurements using
	value		fair value		Level 1		Level 2		Level 3
March 31, 2015
Financial Assets
Cash and cash equivalents	$	52,900	$	52,900	$	52,900	$	—	$	—
Securities available-for-sale		81,179		81,179		369		80,810		—
Federal Home Loan Bank stock		3,515		3,515		—		3,515		—
Loans held-for-sale		328		332		—		—		332
Loans receivable, net		676,734		683,921		—		—		683,921
Accrued interest receivable		2,356		2,356		—		—		2,356
Financial Liabilities
Demand (non-interest-bearing)	$	163,387	$	163,387	$	—	$	—	$	163,387
Demand (interest-bearing)		115,099		115,099		—		—		115,099
Money market		173,492		173,492		—		—		173,492
Savings and other		131,794		131,794		—		—		131,794
Certificates of deposit		141,138		142,313		—		—		142,313
Deposits		724,910		726,085		—		—		726,085
Repurchase agreements		3,278		3,278		—		—		3,278
FHLBB advances		28,403		30,175		—		—		30,175
Capital lease liability		423		931		—		—		931
Accrued interest payable		166		166		—		—		166
December 31, 2014
Financial Assets
Cash and cash equivalents	$	36,105	$	36,105	$	36,105	$	—	$	—
Securities available-for-sale		91,312		91,312		327		90,985		—
Federal Home Loan Bank stock		3,515		3,515		—		3,515		—
Loans held-for-sale		568		572		—		—		572
Loans receivable, net		673,330		683,845		—		—		683,845
Accrued interest receivable		2,334		2,334		—		—		2,334
Financial Liabilities
Demand (non-interest-bearing)	$	161,386	$	161,386	$	—	$	—	$	161,386
Demand (interest-bearing)		117,169		117,169		—		—		117,169
Money market		174,274		174,274		—		—		174,274
Savings and other		121,387		121,387		—		—		121,387
Certificates of deposit		141,210		142,261		—		—		142,261
Deposits		715,426		716,477		—		—		716,477
Repurchase agreements		4,163		4,163		—		—		4,163
FHLBB advances		28,813		30,626		—		—		30,626
Capital lease liability		424		929		—		—		929
Accrued interest payable		166		166		—		—		166