SECURITIES (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017
Available-for-sale
Municipal bonds	$	3,476	$	11	$	1	$	3,486
Mortgage-backed securities
U.S. Government agencies and U.S. Government-sponsored enterprises		45,983		152		267		45,868
Collateralized mortgage obligations
U.S. Government agencies		10,462		2		87		10,377
Non-agency		2,271		410		17		2,664
SBA bonds		12,278		9		20		12,267
CRA mutual funds		851		—		16		835
Corporate bonds		3,500		59		9		3,550
Total securities available-for-sale	$	78,821	$	643	$	417	$	79,047
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	3,813	$	—	$	—	$	3,813

(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

(1) Net of other-than-temporary impairment write-downs recognized in prior years.

Sales of securities available-for-sale and gross gains and gross losses realized are as follows:

Years ended December 31, (in thousands)		2017			2016		2015
Proceeds	$	199		$	4,865	$	3,861
Gains realized		192			569		180
Losses realized		(14	)		—		(27	)
Net gains realized		178			569		153
Income tax provision		61			193		52

Aggreggate fair value and gross unrealized loss of securities

	Less than 12 Months				12 Months or Longer				Total
December 31, 2017 (in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair Value		Unrealized losses
Available-for-sale
Municipal bonds	$	479	$	1	$	—	$	—	$	479	$	1
Mortgage-backed securities		15,914		99		17,892		168		33,806		267
Collateralized mortgage obligations
U.S. Government Agencies		9,317		87		—		—		9,317		87
Non-agency		—		—		77		3		77		3
SBA bonds		8,519		20		—		—		8,519		20
CRA mutual funds		835		16		—		—		835		16
Corporate bonds		1,491		9		—		—		1,491		9
Total temporarily impaired securities		36,555		232		17,969		171		54,524		403
Other-than-temporarily impaired securities
Collateralized mortgage obligations
Non-agency		101		14		—		—		101		14
Total temporarily impaired and other-than-temporarily impaired securities	$	36,656	$	246	$	17,969	$	171	$	54,625	$	417

December 31, 2016 (in thousands)
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

Amortized cost, fair value and tax equivalent yield of securities

December 31, 2017 (in thousands)	Maturity	Amortized cost			Fair value	Yield(1)
Municipal bonds	Within 1 year	$	353	$	353	6.17	%
	After 1 year but within 5 years		439		440	5.03	%
	After 10 years but within 15 years		1,494		1,500	7.15	%
	After 15 years		1,190		1,193	7.13	%
	Total		3,476		3,486	6.78	%
Mortgage backed securities	U.S. Government Agency and U.S. Government-sponsored enterprises		45,983		45,868	2.33	%
Collateralized mortgage obligations	U.S. Government Agency and U.S. Government-sponsored enterprises		10,462		10,377	2.76	%
	Non-agency		2,271		2,664	3.97	%
SBA bonds			12,278		12,267	2.99	%
CRA mutual funds			851		835	2.17	%
Corporate bonds	After 5 years but within 10 years		3,500		3,550	5.57	%
Securities available-for-sale		$	78,821	$	79,047	2.87	%

(1)       Yield is based on amortized cost.