SECURITIES (Tables)

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Composition of Securities

(in thousands)	Amortized cost (1)		Gross un- realized gains		Gross un- realized losses			Fair value
June 30, 2015
Available-for-sale
U.S. Treasury notes	$	2,498	$	82	$	—		$	2,580
U.S. Government agency notes		1,490		6		—			1,496
Municipal bonds		33,215		740		(122	)		33,833
Mortgage-backed securities
U.S. Government agencies and U.S. Government-sponsored enterprises		28,191		509		(28	)		28,672
Collateralized mortgage obligations
U.S. Government agencies		2,317		19		—			2,336
Non-agency		5,269		515		(7	)		5,777
SBA bonds		3,583		69		—			3,652
CRA mutual funds		758		—		—			758
Preferred stock		20		293		—			313
Total securities available-for-sale	$	77,341	$	2,233	$	(157	)	$	79,417
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	3,515	$	—	$	—		$	3,515
(in thousands)	Amortized cost (1)		Gross un- realized gains		Gross un- realized losses			Fair value
December 31, 2014
Available-for-sale
U.S. Treasury notes	$	2,699	$	107	$	—		$	2,806
U.S. Government agency notes		5,850		24		—			5,874
Municipal bonds		38,962		1,455		(65	)		40,352
Mortgage-backed securities
U.S. Government agencies and U.S. Government-sponsored enterprises		27,036		688		(15	)		27,709
Collateralized mortgage obligations
U.S. Government agencies		2,657		22		—			2,679
Non-agency		6,056		552		(12	)		6,596
SBA bonds		4,336		129		—			4,465
CRA mutual funds		502		2		—			504
Preferred stock		20		307		—			327
Total securities available-for-sale	$	88,118	$	3,286	$	(92	)	$	91,312
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	3,515	$	—	$	—		$	3,515

(1) Net of other-than-temporary impairment write-downs recognized in earnings.

Aggreggate fair value and gross unrealized loss of securities

(in thousands)	Less than 12 Months					12 Months or Longer				Total
	Fair value		Unrealized losses			Fair value		Unrealized losses		Fair value		Unrealized losses
June 30, 2015
Available-for-sale
Municipal bonds	$	3,475	$	(122	)	$	—	$	—	$	3,475	$	(122	)
Mortgage-backed securities		7,251		(28	)		—		—		7,251		(28	)
Collateralized mortgage obligations:							—		—
Non-agency		273		(7	)		—		—		273		(7	)
Total temporarily impaired securities		10,999		(157	)		—		—		10,999		(157	)
Other-than-temporarily impaired securities
Collateralized mortgage obligations:
Non-agency		—		—			—		—		—		—
Total temporarily impaired and other-than-temporarily impaired securities	$	10,999	$	(157	)	$	—	$	—	$	10,999	$	(157	)

Activity related to credit losses recognized into earnings

Six months ended June 30 (in thousands)		2015		2014
Balance, beginning of period	$	1,128	$	1,128
Credit component on debt securities in which OTTI was not previously recognized		—		—
Balance, end of period	$	1,128	$	1,128