SECURITIES (Tables)

12 Months Ended

Dec. 31, 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
December 31, 2016
Available-for-sale
Municipal bonds	$	15,800	$	197	$	(1	)	$	15,996
Mortgage-backed securities
U.S. Government agencies and U.S. Government-sponsored enterprises		53,407		229		(335	)		53,301
Collateralized mortgage obligations
U.S. Government agencies		1,470		4		—			1,474
Non-agency		3,327		414		(6	)		3,735
SBA bonds		2,056		9		(1	)		2,064
CRA mutual funds		834		—		(16	)		818
Corporate bonds		2,000		16		(3	)		2,013
Preferred stock		7		215		—			222
Total securities available-for-sale	$	78,901	$	1,084	$	(362	)	$	79,623
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	3,211	$	—	$	—		$	3,211

(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 prior years.

Sales of securities available-for-sale and gains realized

Years ended December 31, (in thousands)		2016		2015			2014
Proceeds	$	4,880	$	3,861		$	—
Gains realized		584		180			—
Losses realized		—		(27	)		—
Net gains realized		584		153			—
Income tax provision		199		52			—

Aggreggate fair value and gross unrealized loss of securities

	Less than 12 Months				12 Months or Longer				Total
December 31, 2016 (in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair Value		Unrealized losses
Available-for-sale
Municipal bonds	$	517	$	1	$	—	$	—	$	517	$	1
Mortgage-backed securities		34,758		329		249		6		35,007		335
Collateralized mortgage obligations
Non-agency		60		—		339		5		399		5
SBA bonds		475		1		—		—		475		1
CRA mutual funds		818		16		—		—		818		16
Corporate bonds		498		3		—		—		498		3
Total temporarily impaired securities		37,126		350		588		11		37,714		361
Other-than-temporarily impaired securities
Collateralized mortgage obligations
Non-agency		174		1						174		1
Total temporarily impaired and other-than-temporarily impaired securities	$	37,300	$	351	$	588	$	11	$	37,888	$	362
December 31, 2015 (in thousands)
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 and other-than-temporarily impaired securities	$	15,751	$	85	$	279	$	7	$	16,030	$	92

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

December 31, 2016 (in thousands)	Maturity	Amortized cost			Fair value	Yield(1)
Municipal bonds	Within 1 year	$	76	$	76	4.92	%
	After 1 year but within 5 years		873		873	5.49
	After 10 years but within 15 years		2,915		2,952	6.46
	After 15 years		11,936		12,095	6.73
	Total		15,800		15,996	6.60
Mortgage-backed securities	U.S. Government agency and U.S. Government-sponsored enterprises		53,407		53,301	2.33
Collateralized mortgage obligations	U.S. Government agency and U.S. Government-sponsored enterprises		1,470		1,474	1.13
	Non-agency		3,327		3,735	4.10
SBA bonds			2,056		2,064	3.19
CRA mutual funds			834		818	4.02
Corporate bonds	After 5 years but within 10 years		2,000		2,013	5.50
Preferred stock			7		222	0.00
Securities available-for-sale		$	78,901	$	79,623	3.36	%

(1) Yield is based on amortized cost.