SECURITIES (Tables)

12 Months Ended

Dec. 31, 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
December 31, 2015
Available-for-sale
U.S. Treasury notes	$	2,499	$	42	$	—		$	2,541
U.S. Government agency notes		498		—		—			498
Municipal bonds		29,752		633		—			30,385
Mortgage-backed securities
U.S. Government agencies and U.S. Government-sponsored enterprises		31,900		385		(83	)		32,202
Collateralized mortgage obligations
U.S. Government agencies		2,002		12		—			2,014
Non-agency		4,487		468		(7	)		4,948
SBA bonds		3,065		31		—			3,096
CRA mutual funds		766		—		(2	)		764
Preferred stock		20		226		—			246
Total securities available-for-sale	$	74,989	$	1,797	$	(92	)	$	76,694
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	3,176	$	—	$	—		$	3,176

(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 prior years.

Sales of securities available-for-sale and gains realized

Years ended December 31, (in thousands)		2015			2014		2013
Proceeds	$	3,861		$	—	$	—
Gains realized		180			—		—
Losses realized		(27	)		—		—
Net gains realized		153			—		—
Income tax provision		52			—		—

Aggreggate fair value and gross unrealized loss of securities

	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair Value		Unrealized losses
December 31, 2015
Available-for-sale
Mortgage-backed securities	$	14,750	$	83	$	53	$	—	$	14,803	$	83
Collateralized mortgage obligations
Non-agency		237		—		226		7		463		7
CRA mutual funds		764		2		—		—		764		2
Total temporarily impaired securities	$	15,751	$	85	$	279	$	7	$	16,030	$	92
December 31, 2014
Available-for-sale
Municipal bonds	$	177	$	1	$	1,589	$	64	$	1,766	$	65
Mortgage-backed securities		56		1		1,885		14		1,941		15
Collateralized mortgage obligations
Non-agency		441		7		164		5		605		12
Total temporarily impaired securities	$	674	$	9	$	3,638	$	83	$	4,312	$	92

Securities amortized cost; fair value and tax equivalent yield by maturity

December 31, 2015 (dollars in thousands)		Amortized cost			Fair value	Yield(1)
U.S. Treasury notes	Within 1 year	$	2,499	$	2,541	3.00	%
	Total		2,499		2,541	3.00	%
U.S. Government agency notes	After 1 year but within 5 years		498		498	0.88	%
	Total		498		498	0.88	%
Municipal bonds	Within 1 year		254		254	5.60	%
	After 1 year but within 5 years		1,217		1,225	5.57	%
	After 5 years but within 10 years		1,894		1,922	6.38	%
	After 10 years but within 15 years		2,632		2,708	6.30	%
	After 15 years		23,755		24,276	6.68	%
	Total		29,752		30,385	6.57	%
Mortgage-backed securities	U.S. Government agency and U.S. Government-sponsored enterprises		31,900		32,202	2.96	%
Collateralized mortgage obligations	U.S. Government agency and U.S. Government-sponsored enterprises		2,002		2,014	1.02	%
	Non-agency		4,487		4,948	4.20	%
SBA bonds			3,065		3,096	2.93	%
CRA mutual funds			766		764	2.07	%
Preferred stock			20		246	2.26	%
Securities available-for-sale		$	74,989	$	76,694	4.47	%