INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

The amortized cost and fair value of available for sale investments (“AFS”), with gross unrealized gains and losses, follow:

	December 31, 2013
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
	cost		gains		losses		value
	(dollars in thousands)
Securities available for sale:
U.S. government agencies – GSE’s (“Government Sponsored Entities”)	$	35,240	$	53	$	(628)	$	34,665
Mortgage-backed securities – GSE’s		40,801		666		(402)		41,065
Municipal bonds		7,968		281		(143)		8,106
	$	84,009	$	1,000	$	(1,173)	$	83,836

	December 31, 2012
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
	cost		gains		losses		value
	(dollars in thousands)
Securities available for sale:
U.S. government agencies – GSE’s (“Government Sponsored Entities”)	$	36,951	$	248	$	(45)	$	37,154
Mortgage-backed securities – GSE’s		34,794		1,189		(29)		35,954
Municipal bonds		7,970		414		(1)		8,383
	$	79,715	$	1,851	$	(75)	$	81,491

Schedule of Unrealized Loss on Investments [Table Text Block]

The following tables show gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position as of December 31, 2013 and 2012.

	2013
	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	value		losses		value		losses		value		losses
	(dollars in thousands)
Securities available for sale:
U.S. government agencies – GSE’s	$	11,908	$	(239)	$	3,611	$	(389)	$	15,519	$	(628)
Mortgage-backed securities- GSE’s		21,762		(312)		1,777		(90)		23,539		(402)
Municipal bonds		2,719		(143)		-		-		2,719		(143)
Total temporarily impaired securities	$	36,389	$	(694)	$	5,388	$	(479)	$	41,777	$	(1,173)

	2012
	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	value		losses		value		losses		value		losses
	(dollars in thousands)
Securities available for sale:
U.S. government agencies – GSE’s	$	5,959	$	45	$	-	$	-	$	5,959	$	45
Mortgage-backed securities- GSE’s		10,286		29		-		-		10,286		29
Municipal bonds		677		1		-		-		677		1
Total temporarily impaired securities	$	16,922	$	75	$	-	$	-	$	16,922	$	75

Investments Classified by Contractual Maturity Date [Table Text Block]

The following table sets forth certain information regarding the amortized costs, carrying values and contractual maturities of the Company’s investment portfolio at December 31, 2013.

	Amortized		Fair
	Cost		Value
	(dollars in thousands)
Securities available for sale:
U.S. government agencies – GSE’s
Due within one year	$	10,520	$	10,545
Due after one but within five years		8,820		8,827
Due after five but within ten years		7,376		6,827
Due after ten years		8,524		8,466
		35,240		34,665
Mortgage-backed securities – GSE’s
Due within one year		133		140
Due after one but within five years		35,352		35,856
Due after five but within ten years		5,316		5,069
Due after ten years		-		-
		40,801		41,065
Municipal bonds
Due within one year		100		101
Due after one but within five years		3,036		3,232
Due after five but within ten years		3,306		3,224
Due after ten years		1,526		1,549
		7,968		8,106
Total securities available for sale
Due within one year		10,753		10,786
Due after one but within five years		47,208		47,915
Due after five but within ten years		15,998		15,120
Due after ten years		10,050		10,015
	$	84,009	$	83,836