FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2017

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
June 30, 2017
Assets at fair value on a recurring basis
Municipal bonds	$	—	$	6,599	$	—	$	6,599
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		48,964		—		48,964
Collateralized mortgage obligations:
U.S. Government agencies		—		8,759		—		8,759
Non-agency		—		3,144		—		3,144
SBA bonds		—		10,508		—		10,508
CRA mutual funds		831		—		—		831
Corporate bonds		—		2,045		—		2,045
Preferred stock		166		—		—		166
Securities available-for-sale	$	997	$	80,019	$	—	$	81,016
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	4,720	$	4,720
Other real estate owned	$	—	$	—	$	3,854	$	3,854
December 31, 2016
Assets at fair value on a recurring basis
Municipal bonds	$	—	$	15,996	$	—	$	15,996
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		53,301		—		53,301
Collateralized mortgage obligations:
U.S. Government agencies		—		1,474		—		1,474
Non-agency		—		3,735		—		3,735
SBA bonds		—		2,064		—		2,064
CRA mutual funds		818		—		—		818
Corporate bonds		—		2,013		—		2,013
Preferred stock		222		—		—		222
Securities available-for-sale	$	1,040	$	78,583	$	—	$	79,623
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	5,256	$	5,256
Other real estate owned	$	—	$	—	$	3,773	$	3,773

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
June 30, 2017
Financial Assets
Cash and cash equivalents	$	61,392	$	61,392	$	61,392	$	—	$	—
Securities available-for-sale		81,016		81,016		997		80,019		—
Federal Home Loan Bank stock		3,452		3,452		—		3,452		—
Loans held-for-sale		594		594		—		—		594
Loans receivable, net		771,850		787,484		—		—		787,484
Accrued interest receivable		2,303		2,303		—		—		2,303
Cash surrender value of life insurance		14,211		14,211		14,211		—		—
Financial Liabilities
Demand (non-interest bearing)	$	219,660	$	219,660	$	—	$	—	$	219,660
Demand (interest-bearing)		132,899		132,899		—		—		132,899
Money market		194,704		194,704		—		—		194,704
Savings and other		145,937		145,937		—		—		145,937
Certificates of deposit		118,141		119,107		—		—		119,107
Deposits		811,341		812,307		—		—		812,307
Repurchase agreements		2,126		2,126		—		—		2,126
FHLBB advances		47,302		48,286		—		—		48,286
Subordinated debt		9,799		10,433		—		—		10,433
Note payable		327		360		—		—		360
Capital lease liability		1,987		2,285		—		—		2,285
Accrued interest payable		88		88		—		—		88
December 31, 2016
Financial Assets
Cash and cash equivalents	$	35,485	$	35,485	$	35,485	$	—	$	—
Securities available-for-sale		79,623		79,623		1,040		78,583		—
Federal Home Loan Bank stock		3,211		3,211		—		—		3,211
Loans receivable, net		763,184		774,442		—		—		774,442
Accrued interest receivable		2,424		2,424		—		—		2,424
Cash surrender value of life insurance		14,038		14,038		14,038		—		—
Financial Liabilities
Demand (non-interest bearing)	$	218,420	$	218,420	$	—	$	—	$	218,420
Demand (interest-bearing)		127,854		127,854		—		—		127,854
Money market		182,476		182,476		—		—		182,476
Savings and other		135,435		135,435		—		—		135,435
Certificates of deposit		117,585		118,610		—		—		118,610
Deposits		781,770		782,795		—		—		782,795
Repurchase agreements		5,535		5,535		—		—		5,535
FHLBB advances		37,188		38,440		—		—		38,440
Subordinated debt		9,788		10,378		—		—		10,378
Note payable		344		377		—		—		377
Capital lease liability		418		841		—		—		841
Accrued interest payable		89		89		—		—		89