FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a recurring basis as of December 31, 2014 and December 31, 2013 (dollars in thousands):

			Quoted Prices in		Significant
Investment securities			Active Markets		Other		Significant
available for sale			for Identical		Observable		Unobservable
December 31, 2014	Fair value		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)

U.S. government agencies – GSE's	$	27,921	$	-	$	27,921	$	-
Mortgage-backed securities - GSE’s		53,304		-		53,304		-
Municipal bonds		21,010		-		21,010		-
Total	$	102,235	$	-	$	102,235	$	-

			Quoted Prices in		Significant
Investment securities			Active Markets		Other		Significant
available for sale			for Identical		Observable		Unobservable
December 31, 2013	Fair value		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)

U.S. government agencies – GSE's	$	34,665	$	-	$	34,665	$	-
Mortgage-backed securities - GSE’s		41,065		-		41,065		-
Municipal bonds		8,106		-		8,106		-
Total	$	83,836	$	-	$	83,836	$	-

Fair Value Measurements, Nonrecurring [Table Text Block]

The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a nonrecurring basis as of December 31, 2014 and

December 31, 2013 (dollars in thousands):

			Quoted Prices in		Significant
			Active Markets		Other		Significant
Asset Category			for Identical		Observable		Unobservable
December 31, 2014	Fair value		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
Impaired loans	$	6,896	$	-	$	-	$	6,896
Foreclosed real estate		1,585		-		-		1,585
Total	$	8,481	$	-	$	-	$	8,481

			Quoted Prices in		Significant
			Active Markets		Other		Significant
Asset Category			for Identical		Observable		Unobservable
December 31, 2013	Fair value		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
Impaired loans	$	8,477	$	-	$	-	$	8,477
Foreclosed real estate		2,008		-		-		2,008
Total	$	10,485	$	-	$	-	$	10,485

Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]

The following table presents the carrying values and estimated fair values of the Company's financial instruments at December 31, 2014 and 2013:

	December 31, 2014
	Carrying		Estimated
	Amount		Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets:
Cash and due from banks	$	14,417	$	14,417	$	14,417	$	-	$	-
Certificates of deposits		1,000		1,000		1,000		-		-
Interest-earning deposits in other banks		22,810		22,810		22,810		-		-
Federal funds sold and repurchase agreements		20,183		20,183		20,183		-		-
Investment securities available for sale		102,235		102,235		-		102,235		-
Loans, net		545,194		555,736		-		-		555,736
Accrued interest receivable		2,416		2,416		-		-		2,416
Stock in the FHLB		1,524		1,524		-		-		1,524
Other non-marketable securities		896		896		-		-		896

Financial liabilities:
Deposits	$	618,902	$	621,049	$	-	$	621,049	$	-
Short-term debt		20,733		20,593		-		20,593		-
Long-term debt		25,591		20,771		-		20,771		-
Accrued interest payable		276		276		-		-		276

	December 31, 2013
	Carrying		Estimated
	Amount		Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets:
Cash and due from banks	$	20,151	$	20,151	$	20,151	$	-	$	-
Interest-earning deposits in other banks		49,690		49,690		49,690		-		-
Federal funds sold		3,028		3,028		3,028		-		-
Investment securities available for sale		83,836		83,836		-		83,836		-
Loans, net		339,446		353,439		-		-		353,439
Accrued interest receivable		1,650		1,650		-		-		1,650
Stock in the FHLB		796		796		-		-		796
Other non-marketable securities		1,055		1,055		-		-		1,055

Financial liabilities:
Deposits	$	448,458	$	452,529	$	-	$	452,529	$	-
Short-term debt		6,305		6,305		-		6,305		-
Long-term debt		12,372		7,517		-		7,517		-
Accrued interest payable		225		225		-		-		225