SECURITIES (Tables)

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Composition of Securities

(in thousands)	Amortized cost (1)			Gross un- realized gains			Gross un- realized losses				Fair Value
September 30, 2016
Available-for-sale
Municipal bonds		$	18,252		$	352		$	—			$	18,604
Mortgage-backed securities
U.S. Government agencies and U.S. Government-sponsored enterprises			47,881			372			(77	)			48,176
Collateralized mortgage obligations
U.S. Government agencies			1,596			8			—				1,604
Non-agency			3,619			418			(5	)			4,032
SBA bonds			2,268			18			—				2,286
CRA mutual funds			828			10			—				838
Corporate bonds			1,000			20			—				1,020
Preferred stock			20			221			—				241
Total securities available-for-sale		$	75,464		$	1,419		$	(82	)		$	76,801
Non-marketable securities
Federal Home Loan Bank of Boston stock		$	2,937		$	—		$	—			$	2,937

(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

(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
September 30, 2016
Available-for-sale
Mortgage-backed securities	$	27,770	$	(71	)	$	310	$	(6	)	$	28,080	$	(77	)
Collateralized mortgage obligations:
Non-agency		203		(1	)		175		(4	)		378		(5	)
Total temporarily impaired  securities	$	27,973	$	(72	)	$	485	$	(10	)	$	28,458	$	(82	)

(in thousands)	Less than 12 Months					12 Months or Longer					Total
	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	)

Activity related to credit losses recognized into earnings

Nine months ended September 30 (in thousands)		2016		2015
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