INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Schedule Of Available For Sale Securities and Held To Maturity Securities [Table Text Block]

At June 30, 2015, the composition of the investment portfolio was:

	Amortized		Gross Unrealized				Fair
(In thousands)	Cost Basis		Gains		Losses		Value
Available-for-sale securities:
U.S. Government and agency obligations	$	-	$	-	$	-	$	-
U.S. Government agency mortgage-backed securities		43,471		545		(279)		43,737
U.S. Government agency collateralized mortgage obligations		6,994		75		(8)		7,061
Obligations of state and municipal subdivisions		16,639		216		(307)		16,548
Total available-for-sale securities	$	67,104	$	836	$	(594)	$	67,346

	Amortized		Gross Unrealized				Fair
(In thousands)	Cost Basis		Gains		Losses		Value
Held-to-maturity securities:
U.S. Government agency mortgage-backed securities	$	11,434	$	167	$	(30)	$	11,571
Total held-to-maturity securities	$	11,434	$	167	$	(30)	$	11,571

At December 31, 2014, the composition of the investment portfolio was:

	Amortized		Gross Unrealized				Fair
(In thousands)	Cost Basis		Gains		Losses		Value
Available-for-sale securities:
U.S. Government and agency obligations	$	5,000	$	42	$	-	$	5,042
U.S. Government agency mortgage-backed securities		51,904		1,332		(149)		53,087
U.S. Government agency collateralized mortgage obligations		12,802		378		(1)		13,179
Obligations of state and municipal subdivisions		5,920		310		-		6,230
Total available-for-sale securities	$	75,626	$	2,062	$	(150)	$	77,538

	Amortized		Gross Unrealized				Fair
(In thousands)	Cost Basis		Gains		Losses		Value
Held-to-maturity securities:
U.S. Government agency mortgage-backed securities	$	13,441	$	212	$	(20)	$	13,633
Total held-to-maturity securities	$	13,441	$	212	$	(20)	$	13,633

Schedule of Unrealized Loss on Investments [Table Text Block]

The following is a summary of the fair values and related unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2015, and December 31, 2014:

At June 30, 2015 (In thousands)	Less than 12 Months				12 Months or Greater				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Government agency collateralized mortgage obligations	$	2,000	$	(8)	$	-	$	-	$	2,000	$	(8)
U.S. Government agency mortgage-backed securities		21,800		(244)		1,430		(35)		23,230		(279)
Obligations of state and municipal subdivisions		10,989		(307)		-		-		10,989		(307)
Total securities in unrealized loss position	$	34,789	$	(559)	$	1,430	$	(35)	$	36,219	$	(594)

At December 31, 2014 (In thousands)	Less than 12 Months				12 Months or Greater				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Government agency collateralized mortgage obligations	$	10,804	$	(55)	$	6,300	$	(94)	$	17,104	$	(149)
U.S. Government agency mortgage-backed securities		1,351		(1)		-		-		1,351		(1)
Total securities in unrealized loss position	$	12,155	$	(56)	$	6,300	$	(94)	$	18,455	$	(150)

Schedule Of Amortized Cost and Fair Value Of Securities and Held To Maturity [Table Text Block]

The amortized cost and fair value of securities at June 30, 2015 and December 31, 2014, by expected maturity, are set forth below. Actual maturities of mortgage-backed securities and collateralized mortgage obligations may differ from contractual maturities because the mortgages underlying the securities may be prepaid or called with or without call or prepayment penalties. Because these securities are not due at a single maturity date, the maturity information is not presented.

	Available-for-Sale				Held-to-Maturity
	Amortized				Amortized
At June 30, 2015	Cost		Fair Value		Cost		Fair Value
	(In thousands)
U.S. Government agency mortgage-backed securities	$	43,471	$	43,737	$	11,434	$	11,571
U.S. Government agency collateralized mortgage obligations		6,994		7,061		-		-
Subtotal		50,465		50,798		11,434		11,571
Securities with fixed maturities:
Due in one year or less		-		-		-		-
Due after one year through five years		-		-		-		-
Due after five years through ten years		1,904		2,014		-		-
Due after ten years		14,735		14,534		-		-
Subtotal		16,639		16,548		-		-
Total	$	67,104	$	67,346	$	11,434	$	11,571

	Available-for-Sale				Held-to-Maturity
	Amortized				Amortized
At December 31, 2014	Cost		Fair Value		Cost		Fair Value
	(In thousands)
U.S. Government agency mortgage-backed securities	$	51,904	$	53,087	$	13,441	$	13,633
U.S. Government agency collateralized mortgage obligations		12,802		13,179		-		-
Subtotal		64,706		66,266		13,441		13,633
Securities with fixed maturities:
Due in one year or less		-		-		-		-
Due after one year through five years		-		-		-		-
Due after five years through ten years		1,898		2,009		-		-
Due after ten years		9,022		9,263		-		-
Subtotal		10,920		11,272		-		-
Total	$	75,626	$	77,538	$	13,441	$	13,633

Schedule Of Amortized Cost And Fair value Of Available For Sale And Held To Maturity Securities [Table Text Block]

The following table summarizes the amortized cost and fair value of available for sale and held to maturity securities that are pledged as collateral for the following obligations:

	June 30, 2015				December 31, 2014
	Amortized				Amortized
	Cost		Fair Value		Cost		Fair Value
			(In thousands)
State of Connecticut to secure public deposits	$	2,014	$	2,024	$	18,446	$	18,881
Federal Home Loan Bank of Boston to secure borrowing
arrangements		15,010		15,116		-		-
Total	$	17,024	$	17,140	$	18,446	$	18,881