FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

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

	September 30, 2014
	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
	(In thousands)
Financial Assets:
Cash and due from banks	$	35,566	$	35,566	$	35,566	$	-	$	-
Available for sale securities		67,537		67,537		-		67,537		-
Held to maturity securities		11,502		11,539		-		11,539		-
Loans held for sale		-		-		-		-		-
Loans receivable, net		730,148		731,394		-		-		731,394
Accrued interest receivable		2,670		2,670		-		-		2,670
FHLB stock		4,834		4,834		-		-		4,834
Derivative Asset		111		111		-		111		-
Financial Liabilities:
Demand deposits		151,146		151,146		-		-		151,146
NOW and money market		233,994		233,994		-		-		233,994
Savings		74,556		74,556		-		-		74,556
Time deposits		235,567		236,834		-		-		236,834
Advances from the FHLB		77,000		76,780		-		-		76,780

	December 31, 2013
	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
	(In thousands)
Financial Assets:
Cash and due from banks	$	82,013	$	82,013	$	82,013	$	-	$	-
Available for sale securities		28,597		28,597		-		28,597		-
Held to maturity securities		13,816		13,815		-		13,815		-
Loans held for sale		100		100		-		100		-
Loans receivable, net		621,830		623,876		-		-		623,876
Accrued interest receivable		2,360		2,360		-		-		2,360
FHLB stock		4,834		4,834		-		-		4,834
Financial Liabilities:
Demand deposits		118,618		118,618		-		-		118,618
NOW and money market		238,231		238,231		-		-		238,231
Savings		107,692		107,692		-		-		107,692
Time deposits		197,004		197,762		-		-		197,762
Advances from the FHLB		44,000		43,902		-		-		43,902