FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019
Assets at fair value on a recurring basis
U.S. Government Agency notes	$	—	$	4,932	$	—	$	4,932
Municipal bonds		—		20,623		—		20,623
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		39,723		—		39,723
Collateralized mortgage obligations:
U.S. Government agencies		—		30,530		—		30,530
Corporate bonds		—		4,341		—		4,341
Securities available-for-sale	$	—	$	100,149	$	—	$	100,149
CRA mutual funds		869		—		—		869
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	2,872	$	2,872
Other real estate owned	$	—	$	—	$	401	$	401
December 31, 2018
Assets at fair value on a recurring basis
U.S. Government Agency notes	$	—	$	7,670	$	—	$	7,670
Municipal bonds		—		5,379		—		5,379
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		—		57,446		—		57,446
Collateralized mortgage obligations:
U.S. Government agencies		—		17,747		—		17,747
Corporate bonds		—		3,576		—		3,576
Securities available-for-sale	$	—	$	91,818	$	—	$	91,818
CRA mutual funds		836		—		—		836
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	4,238	$	4,238
Other real estate owned	$	—	$	—	$	1,810	$	1,810

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, 2019
Financial Assets
Cash and cash equivalents	$	48,513	$	48,513	$	48,513	$	—	$	—
Securities available-for-sale, net		100,149		100,149		—		100,149		—
CRA mutual fund		869		869		869		—		—
Federal Home Loan Bank of Boston stock		2,839		2,839		2,839		—		—
Loans held-for-sale		403		403		—		—		403
Loans receivable, net		910,573		910,149		—		—		910,149
Accrued interest receivable		3,439		3,439		3,439		—		—
Cash surrender value of life insurance policies		15,355		15,355		15,355		—		—
Financial Liabilities
Demand (non-interest-bearing)	$	231,019	$	231,019	$	—	$	231,019	$	—
Demand (interest-bearing)		156,687		156,687		—		156,687		—
Money market		231,987		231,987		—		231,987		—
Savings and other		158,809		158,809		—		158,809		—
Certificates of deposit		172,221		172,865		—		172,865		—
Deposits	$	950,723	$	951,397	$	—	$	951,397	$	—
Repurchase agreements		6,308		6,308		—		6,308		—
FHLBB advances		32,769		33,057		—		33,057		—
Subordinated debt		9,847		10,121		10,121				—
Note payable		263		269		—		269		—
Capital lease liability		3,011		3,225		—				3,225
Accrued interest payable		576		576		576		—		—
December 31, 2018
Financial Assets
Cash and cash equivalents	$	58,445	$	58,445	$	58,445	$	—	$	—
Securities available-for-sale, net		91,818		91,818		—		91,818		—
CRA mutual fund		836		836		836		—		—
Federal Home Loan Bank of Boston stock		4,496		4,496		4,496		—		—
Loans receivable, net		909,279		886,222		—		—		886,222
Accrued interest receivable		3,148		3,148		3,148		—		—
Cash surrender value of life insurance policies		14,438		14,438		14,438		—		—
Financial Liabilities
Demand (non-interest-bearing)	$	228,448	$	228,448	$	—	$	228,448	$	—
Demand (interest-bearing)		153,586		153,586		—		153,586		—
Money market		204,219		204,219		—		204,219		—
Savings and other		178,807		178,807		—		178,807		—
Certificates of deposit		161,679		162,013		—		162,013		—
Deposits		926,739		927,073		—		927,073		—
Repurchase agreements		4,104		4,104		—		4,104		—
FHLBB advances		67,154		67,231		—		67,231		—
Subordinated debt		9,835		10,006		10,006		—		—
Note payable		280		288		—		288		—
Capital lease liability		3,081		3,339		—		—		3,339
Accrued interest payable		237		237		237		—		—