Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis

	September 30, 2016
(In thousands)	Level 1		Level 2		Level 3		Total Fair Value
Available-for-sale portfolio
U.S. Government and agency obligations	$	-	$	7,107	$	-	$	7,107
Mortgage-backed securities – residential		-		10,545		-		10,545
Total available-for-sale securities	$	-	$	17,652	$	-	$	17,652

	December 31, 2015
(In thousands)	Level 1		Level 2		Level 3		Total Fair Value
Available-for-sale portfolio
U.S. Government and agency obligations	$	-	$	5,968	$	-	$	5,968
Mortgage-backed securities – residential		-		14,000		-		14,000
Total available-for-sale securities	$	-	$	19,968	$	-	$	19,968

Schedule of carrying amounts and estimated fair values of the financial instruments

		September 30, 2016				December 31, 2015
	Fair Value	Carrying		Estimated		Carrying		Estimated
(In thousands)	Hierarchy	Amounts		Fair Values		Amounts		Fair Values
Financial assets:
Cash and due from banks	1	$	1,285	$	1,285	$	1,550	$	1,550
Interest earning demand deposits	1		3,545		3,545		4,597		4,597
Securities - available-for-sale	2		17,652		17,652		19,968		19,968
Securities - held-to-maturity	2		6,369		6,489		12,979		13,222
Investment in FHLB stock	2		2,480		2,480		2,388		2,388
Loans held for sale	2		5,602		5,602		3,880		3,880
Loans, net	3		213,532		244,911		201,830		201,886
Accrued interest receivable	1		642		642		655		655
Financial liabilities:
Demand Deposits, Savings, NOW and MMDA	1		87,857		87,857		84,060		84,060
Time Deposits	2		90,671		90,507		101,501		101,272
Borrowings	2		47,780		47,505		46,092		46,447
Accrued interest payable	1		54		54		60		60