Disclosures About Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of fair value of assets and liabilities

	March 31, 2014				December 31, 2013
	Carrying		Fair		Carrying		Fair
	value		value		value		value
	(In thousands)
Financial assets
Cash and cash equivalents	$	39,816	$	39,816	$	22,112	$	22,112
Investment securities		140,702		140,702		153,942		153,942
Mortgage-backed securities		12,125		12,246		12,477		12,591
Loans receivable – net and loans held for sale		332,213		355,074		336,134		362,066
Accrued interest receivable		1,649		1,649		1,971		1,971
Federal Home Loan Bank stock		8,651		8,651		8,651		8,651

	$	535,156	$	558,138	$	535,287	$	561,333

Financial liabilities
Deposits	$	466,635	$	465,776	$	469,387	$	468,417
Advances from the Federal Home Loan Bank		17,801		18,032		19,261		20,207
Accrued interest payable		67		67		71		71
Advances by borrowers for taxes and insurance		1,551		1,551		2,357		2,357

	$	486,054	$	485,426	$	491,076	$	491,052

Schedule of estimated fair values of the corporation's financial instruments

			Quoted prices
			in active		Significant		Significant
			markets for		other		other
			identical		observable		unobservable
			assets		inputs		inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(In thousands)

Securities available for sale at March 31, 2014:
U.S. Government agency securities	$	136,551		-	$	136,551		-
Municipal obligations		3,076		-		3,076		-
Corporate Securities		1,075		-		1,075		-
Mortgage-backed securities		9,130		-		9,130		-


Securities available for sale at December 31, 2013:
U.S. Government agency securities	$	148,349		-	$	148,349		-
Municipal obligations		3,015		-		3,015		-
Corporate Securities		2,578		-		2,578		-
Mortgage-backed securities		9,361		-		9,361		-

Schedule of financial instrument measured on recurring and non recurring basis


	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant other unobservable inputs (Level 3)
March 31, 2014:
Financial assets:
Cash and cash equivalents	$	39,816	$	39,816	$	-	$	-
Mortgage-backed securities		3,116		-		3,116		-
Loans receivable - net		355,074		-		355,074		-
Federal Home Loan Bank stock		8,651		-		8,651		-
Accrued interest receivable		1,649		-		1,649		-
Financial liabilities:
Deposits		465,776		-		465,776		-
Advances from the Federal Home Loan Bank		18,032		-		18,032		-
Advances by borrowers for taxes and insurance		1,551		-		1,551		-
Accrued interest payable		67		-		67		-

December 31, 2013:
Financial assets:
Cash and cash equivalents	$	22,112	$	22,112	$	-	$	-
Mortgage-backed securities		3,230		-		3,230		-
Loans receivable - net		362,066		-		362,066		-
Federal Home Loan Bank stock		8,651		-		8,651		-
Accrued interest receivable		1,971		-		1,971		-
Financial liabilities:
Deposits		468,417		-		468,417		-
Advances from the Federal Home Loan Bank		20,207		-		20,207		-
Advances by borrowers for taxes and insurance		2,357		-		2,357		-
Accrued interest payable		71		-		71		-

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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