FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015	Value		Value		(Level 1)		(Level 2)		(Level 3)
Financial assets:
Cash and cash equivalents	$	29,133	$	29,133	$	29,133	$	—	$	—
Certificates of deposits with other banks		13,150		13,270		—		13,270		—
Securities available-for-sale		70,256		70,256		—		70,256		—
Securities held-to-maturity		52,859		54,470		—		54,470		—
Loans held for sale		102,623		102,623		—		102,623		—
Loans, net		1,024,164		1,034,832		—		—		1,034,832
Mortgage servicing rights		956		956		—		—		956
Interest rate lock commitment		1,583		1,583		—		—		1,583
Interest rate swap		405		405		—		405		—
Interest rate cap		437		437		—		437		—
Accrued interest receivable		3,356		3,356		—		723		2,633
Financial liabilities:
Deposits	$	1,012,314	$	1,015,521	$	—	$	1,015,521	$	—
Repurchase agreements		27,437		27,437		—		27,437		—
FHLB and other borrowings		183,198		183,211		—		183,211		—
Interest rate swap		405		405		—		405		—
Accrued interest payable		474		474		—		474		—
Subordinated debt		33,524		32,172		—		32,172		—

December 31, 2014
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		—		68,213
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		—