FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Measurements

Summary of assets and liabilities measured at fair value on a recurring basis

							Total
							Assets
	Level 1		Level 2		Level 3		at Fair Value
	(In thousands)
At March 31, 2017
Assets
Securities available for sale
State and municipal	$	—	$	2,395	$	—	$	2,395
Residential mortgage-backed securities		—		16,452		—		16,452
Total securities available for sale	$	—	$	18,847	$	—	$	18,847
At December 31, 2016
Assets
Securities available for sale
State and municipal	$	—	$	2,385	$	—	$	2,385
Residential mortgage-backed securities		—		17,387		—		17,387
Total securities available for sale	$	—	$	19,772	$	—	$	19,772

Schedule of assets measured at fair value on a non-recurring basis

							Assets		Adjustments
	Level 1		Level 2		Level 3		at Fair Value		to Fair Value
	(In thousands)
At March 31, 2017
Impaired loans	$	—	$	—	$	78	$	78	$	(7)

							Assets		Adjustments
	Level 1		Level 2		Level 3		At Fair Value		to Fair Value
	(In thousands)
At December 31, 2016
Impaired loans	$	—	$	—	$	78	$	78	$	(7)

Schedule of estimated fair values and related carrying amounts of the Company's financial instruments

	March 31, 2017
	Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial assets:
Cash and cash equivalents	$	8,153	$	8,153	$	—	$	—	$	8,153
Securities available for sale		18,847		—		18,847		—		18,847
Securities held to maturity		2,462		—		2,453		—		2,453
FHLB stock		2,751		2,751		—		—		2,751
BBN stock		60		60		—		—		60
Loans, net		279,567		—		—		277,713		277,713
Accrued interest receivable		826		826		—		—		826
Capitalized mortgage servicing rights		182		—		580		—		580
Financial liabilities:
Deposits	$	240,530	$	—	$	241,273	$	—	$	241,273
Short-term FHLB advances		21,000		21,000		—		—		21,000
Long-term FHLB advances		23,600		—		23,679		—		23,679
Mortgagors’ escrow accounts		1,973		1,973		—		—		1,973
Accrued interest payable		62		62		—		—		62

	December 31, 2016
	Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial assets:
Cash and cash equivalents	$	6,129	$	6,129	$	—	$	—	$	6,129
Securities available for sale		19,772		—		19,772		—		19,772
Securities held to maturity		2,503		—		2,490		—		2,490
FHLB stock		2,341		2,341		—		—		2,341
BBN stock		60		60		—		—		60
Loans held for sale		271		275		—		—		275
Loans, net		277,371		—		—		275,824		275,824
Accrued interest receivable		816		816		—		—		816
Capitalized mortgage servicing rights		236		—		601		—		601
Financial liabilities:
Deposits	$	240,508	$	—	$	241,264	$	—	$	241,264
Short-term FHLB advances		17,250		17,250		—		—		17,250
Long-term FHLB advances		24,600		—		24,699		—		24,699
Mortgagors’ escrow accounts		1,633		1,633		—		—		1,633
Accrued interest payable		58		58		—		—		58