INTEREST RATE SWAPS (Tables)

3 Months Ended

Mar. 31, 2015

INTEREST RATE SWAPS

Summary of swaps designated as cash flow hedges

(in thousands)	March 31, 2015			December 31, 2014
Notional amount (receive rate tied to 3-month LIBOR)	$	10,000		$	10,000
Notional amount (receive rate tied to 1-month LIBOR)	10,000			10,000
Total notional amount	$	20,000		$	20,000
Weighted average pay rate	2.25		%	2.25		%
Weighted average receive rate	0.22		%	0.21		%
Weighted average remaining maturity in years	6			6
Unrealized loss	$	(783	)	$	(488	)
Fair value of security pledged as collateral	$	1,015		$	734

Schedule of interest expense recorded on swap transactions in the consolidated statements of income

	Three Months Ended
	March,
(in thousands)	2015		2014
Interest expense on deposits related to money market swap transaction	$	49	$	49
Interest expense on FHLB advances related to FHLB swap transaction	52		51
Total interest expense on swap transactions	$	101	$	100

Summary of net gains recorded in accumulated OCI and the consolidated statements of income relating to the swaps

Three Months Ended March 31, 2015 (in thousands)	Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)			Gain (Loss) Reclassified from Accumulated Other Comprehensive Income on Derivative (Effective Portion)			Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Cash flow hedges - interest rate swaps	$	(396	)	$	(101	)	$	—

Three Months Ended March 31, 2014 (in thousands)	Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)			Gain (Loss) Reclassified from Accumulated Other Comprehensive Income on Derivative (Effective Portion)			Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Cash flow hedges - interest rate swaps	$	(339	)	$	(100	)	$	—

Summary of cash flow hedge included in the consolidated balance sheet

	Notional Amount		Fair Value		Notional Amount		Fair Value
(in thousands)	March 31, 2015				December 31, 2014
Fair value included in other liabilities:
Cash flow hedges - interest rate swaps	$	20,000	$	783	$	20,000	$	488