FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2014

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of carrying values and estimated fair values of the Company's financial instruments

The carrying values and estimated fair values of the Company’s financial instruments are summarized as follows (in thousands):

Fair Value Measurements at

					Quoted
					Prices
					in Active		Significant
					Markets for		Other		Significant
			Estimated		Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
December 31, 2014	Value		Value		(Level 1)		(Level 2)		(Level 3)
Financial assets:
Cash and cash equivalents	$	30,077	$	30,077	$	30,077	$	—	$	—
Certificates of deposits with other banks		11,907		12,035		—		12,035		—
Securities available-for-sale		68,213		68,213		77		68,136
Securities held-to-maturity		54,538		55,871		—		55,871		—
Loans held for sale		69,527		69,527				69,527
Loans, net		792,074		803,036		—		—		803,036
Mortgage servicing rights		1,423		1,423						1,423
Interest rate lock commitment		1,020		1,020		—		—		1,020
Interest rate cap		1,423		1,423		—		1,423		—
Accrued interest receivable		2,387		2,387		—		728		1,659
Financial liabilities:
Deposits	$	823,227	$	824,078	$	—	$	824,078	$	—
Repurchase agreements		32,673		32,673		—		32,673		—
FHLB and other borrowings		101,287		101,338		—		101,338		—
Forward sales commitments		431		431		—		431		—
Accrued interest payable		376		376		—		376		—
Subordinated debt		33,524		31,172		—		31,172		—

December 31, 2013
Financial assets:
Cash and cash equivalents	$	39,843	$	39,843	$	39,843	$	—	$	—
Certificates of deposits		9,427		9,616		—		9,616		—
Securities available-for-sale		106,411		106,411		187		106,224		—
Securities held-to-maturity		56,670		54,118		—		54,118		—
Loans held for sale		90,061		90,061		—		90,061		—
Loans, net		617,370		620,295		—		—		620,295
Mortgage servicing rights		1,417		1,417		—		—		1,417
Interest rate lock commitment		1,081		1,081		—		—		1,081
Forward sales commitments		316		316		—		316		—
Accrued interest receivable		2,764		2,764		—		2,764		—
Financial liabilities:
Deposits	$	695,811	$	697,301	$	—	$	697,301	$	—
Repurchase agreements		81,578		81,578		—		81,578		—
FHLB and other borrowings		104,647		104,742		—		104,742		—
Accrued interest payable		327		327		—		327		—
Subordinated debt		4,124		4,124		—		4,124		—