FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 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
September 30, 2015
Assets at fair value on a recurring basis
U.S. Treasury notes	$	—	$	7,565	$	—	$	7,565
U.S. Government agency notes		—		500		—		500
Municipal bonds		—		33,317		—		33,317
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		27,006		—		27,006
Collateralized mortgage obligations:
U.S. Government agencies		—		2,157		—		2,157
Non-agency		—		5,332		—		5,332
SBA bonds		—		3,350		—		3,350
CRA mutual funds		—		769		—		769
Preferred stock		375		—		—		375
Securities available-for-sale	$	375	$	79,996	$	—	$	80,371
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans		—		—		16,305		16,305
Other real estate owned		—		—		167		167
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
September 30, 2015
Financial Assets
Cash and cash equivalents	$	81,695	$	81,695	$	81,695	$	—	$	—
Securities available-for-sale		80,371		80,371		375		79,996		—
Federal Home Loan Bank stock		3,515		3,515		—		3,515		—
Loans held-for-sale		573		584		—		—		584
Loans receivable, net		687,719		695,147		—		—		695,147
Accrued interest receivable		2,296		2,296		—		—		2,296
Cash surrender value of life insurance		13,591		13,591		13,591		—		—
Financial Liabilities
Demand (non-interest-bearing)	$	194,618	$	194,618	$	—	$	—	$	194,618
Demand (interest-bearing)		129,779		129,779		—		—		129,779
Money market		184,409		184,409		—		—		184,409
Savings and other		123,017		123,017		—		—		123,017
Certificates of deposit		129,656		130,765		—		—		130,765
Deposits		761,479		762,588		—		—		762,588
Repurchase agreements		4,210		4,210		—		—		4,210
FHLBB advances		26,928		28,988		—		—		28,988
Note payable		380		409		—		—		409
Capital lease liability		422		898		—		—		898
Accrued interest payable		121		121		—		—		121
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
Cash surrender value of life insurance		13,314		13,314		13,314		—		—
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