DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2014

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Schedule of carrying amount and fair value of financial instruments

The carrying amounts and estimated fair values of the Corporation's financial instruments at December 31, 2014, are summarized as follows:

FAIR VALUE OF FINANCIAL INSTRUMENTS

(DOLLARS IN THOUSANDS)  

	December 31, 2014
					Quoted Prices in
					Active Markets		Significant Other		Significant
					for Identical		Observable		Unobservable
	Carrying				Assets		Inputs		Inputs
	Amount		Fair Value		(Level I)		(Level II)		(Level III)
		$		$		$		$		$
Financial Assets:
Cash and cash equivalents		43,412		43,412		43,412		—		—
Securities available for sale		295,822		295,822		5,208		290,614		—
Regulatory stock		3,227		3,227		3,227		—		—
Loans held for sale		506		506		506		—		—
Loans, net of allowance		464,027		463,197		—		—		463,197
Accrued interest receivable		3,706		3,706		3,706		—		—
Bank owned life insurance		20,603		20,603		20,603		—		—
Financial Liabilities:
Demand deposits		210,444		210,444		210,444		—		—
Interest-bearing demand deposits		14,039		14,039		14,039		—		—
NOW accounts		72,951		72,951		72,951		—		—
Money market deposit accounts		69,442		69,442		69,442		—		—
Savings accounts		131,206		131,206		131,206		—		—
Time deposits		201,569		203,787		—		—		203,787
Total deposits		699,651		701,869		498,082		—		203,787
Long-term debt		62,300		63,058		—		—		63,058
Accrued interest payable		586		586		586		—		—

The carrying amounts and estimated fair values of the Corporation's financial instruments at December 31, 2013, are summarized as follows:

FAIR VALUE OF FINANCIAL INSTRUMENTS

(DOLLARS IN THOUSANDS)  

	December 31, 2013
					Quoted Prices in
					Active Markets		Significant Other		Significant
					for Identical		Observable		Unobservable
	Carrying				Assets		Inputs		Inputs
	Amount		Fair Value		(Level I)		(Level II)		(Level III)
		$		$		$		$		$
Financial Assets:
Cash and cash equivalents		24,577		24,577		24,577		—		—
Securities available for sale		300,328		300,328		5,171		295,157		—
Regulatory stock		3,660		3,660		3,660		—		—
Loans held for sale		59		59		59		—		—
Loans, net of allowance		431,001		434,049		—		—		434,049
Accrued interest receivable		3,605		3,605		3,605		—		—
Bank owned life insurance		19,911		19,911		19,911		—		—
Financial Liabilities:
Demand deposits		173,070		173,070		173,070		—		—
Interest-bearing demand deposits		13,055		13,055		13,055		—		—
NOW accounts		70,540		70,540		70,540		—		—
Money market deposit accounts		61,882		61,882		61,882		—		—
Savings accounts		120,935		120,935		120,935		—		—
Time deposits		217,144		221,172		—		—		221,172
Total deposits		656,626		660,654		439,482		—		221,172
Short-term borrowings		3,900		3,900		3,900		—		—
Long-term debt		65,000		66,934		—		—		66,934
Accrued interest payable		699		699		699		—		—