Western New England Bancorp (WNEB) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document And Entity Information
Entity Registrant Name	WESTFIELD FINANCIAL INC
Entity Central Index Key	1,157,647
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		18,495,624
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
CASH AND DUE FROM BANKS	$ 10,732	$ 10,294
FEDERAL FUNDS SOLD	473	269
INTEREST-BEARING DEPOSITS AND OTHER SHORT-TERM INVESTMENTS	2,489	8,222
CASH AND CASH EQUIVALENTS	13,694	18,785
SECURITIES AVAILABLE FOR SALE - AT FAIR VALUE	245,004	215,750
SECURITIES HELD TO MATURITY (Fair value of $254,924, and $277,636 at June 30, 2015 and December 31, 2014, respectively)	256,303	278,080
FEDERAL HOME LOAN BANK OF BOSTON AND OTHER RESTRICTED STOCK - AT COST	15,372	14,934
LOANS - Net of allowance for loan losses of $8,295 and $7,948 at June 30, 2015 and December 31, 2014, respectively	751,087	716,738
PREMISES AND EQUIPMENT, Net	13,680	11,703
ACCRUED INTEREST RECEIVABLE	4,200	4,213
BANK-OWNED LIFE INSURANCE	49,477	48,703
DEFERRED TAX ASSET, Net	10,522	8,819
OTHER ASSETS	2,347	2,371
TOTAL ASSETS	1,361,686	1,320,096
DEPOSITS :
Noninterest-bearing	147,784	136,186
Interest-bearing	749,930	698,032
Total deposits	897,714	834,218
SHORT-TERM BORROWINGS	111,251	93,997
LONG-TERM DEBT	195,772	232,479
OTHER LIABILITIES	17,124	16,859
TOTAL LIABILITIES	$ 1,221,861	$ 1,177,553
SHAREHOLDERS' EQUITY:
Preferred stock - $.01 par value, 5,000,000 shares authorized, none outstanding at June 30, 2015 and December 31, 2014
Common stock - $.01 par value, 75,000,000 shares authorized, 18,495,624 shares issued and outstanding at June 30, 2015; 18,734,791 shares issued and outstanding at December 31, 2014	$ 185	$ 187
Additional paid-in capital	109,928	111,696
Unearned compensation - ESOP	(7,210)	(7,469)
Unearned compensation - Equity Incentive Plan	(380)	(95)
Retained earnings	47,344	45,699
Accumulated other comprehensive loss	(10,042)	(7,475)
Total shareholders' equity	139,825	142,543
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,361,686	$ 1,320,096

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Securities held to maturity, fair value	$ 254,924	$ 277,636
Allowance for loan losses	$ 8,295	$ 7,948
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	18,495,624	18,734,791
Common stock, shares outstanding (in shares)	18,495,624	18,734,791

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
INTEREST AND DIVIDEND INCOME:
Residential and commercial real estate loans	$ 5,715	$ 5,419	$ 11,310	$ 10,666
Commercial and industrial loans	1,619	1,368	3,218	2,645
Consumer loans	37	34	73	67
Debt securities, taxable	2,832	2,994	5,491	6,154
Debt securities, tax-exempt	175	209	361	419
Equity securities	42	53	83	89
Other investments - at cost	69	63	137	128
Federal funds sold, interest-bearing deposits and other short-term investments	5	3	11	9
Total interest and dividend income	10,494	10,143	20,684	20,177
INTEREST EXPENSE:
Deposits	1,380	1,288	2,721	2,580
Long-term debt	1,092	1,071	2,162	2,081
Short-term borrowings	243	83	431	160
Total interest expense	2,715	2,442	5,314	4,821
Net interest and dividend income	7,779	7,701	15,370	15,356
PROVISION FOR LOAN LOSSES	350	450	650	550
Net interest and dividend income after provision for loan losses	7,429	7,251	14,720	14,806
NONINTEREST INCOME (LOSS):
Service charges and fees	840	632	1,477	1,303
Income from bank-owned life insurance	407	$ 386	774	$ 765
Loss on prepayment of borrowings	(278)		(871)
Gain on sales of securities, net	276	$ 21	1,093	$ 50
Total noninterest income	1,245	1,039	2,473	2,118
NONINTEREST EXPENSE:
Salaries and employees benefits	3,863	3,665	7,684	7,444
Occupancy	818	751	1,659	1,512
Computer operations	559	610	1,143	1,125
Professional fees	488	483	959	994
FDIC insurance assessment	188	177	381	342
Other	949	845	1,750	1,649
Total noninterest expense	6,865	6,531	13,576	13,066
INCOME BEFORE INCOME TAXES	1,809	1,759	3,617	3,858
INCOME TAX PROVISION	445	417	915	868
NET INCOME	$ 1,364	$ 1,342	$ 2,702	$ 2,990
EARNINGS PER COMMON SHARE:
Basic earnings per share (in dollars per share)	$ 0.08	$ 0.07	$ 0.15	$ 0.16
Weighted average shares outstanding (in shares)	17,519,562	18,308,828	17,601,575	18,559,419
Diluted earnings per share (in dollars per share)	$ 0.08	$ 0.07	$ 0.15	$ 0.16
Weighted average diluted shares outstanding (in shares)	17,519,562	18,308,828	17,601,575	18,559,419

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income		$ 1,364	$ 1,342	$ 2,702	$ 2,990
Unrealized (loss) gains on securities:
Unrealized holding (loss) gains on available for sale securities		(2,934)	1,703	(1,719)	2,980
Reclassification adjustment for gains realized in income	[1]	(276)	(21)	(1,093)	(50)
Amortization of net unrealized loss on held-to-maturity securities	[2]	(115)	(11)	(191)	1
Net unrealized (losses) gains		(3,325)	1,671	(3,003)	2,931
Tax effect		1,148	(575)	1,036	(1,009)
Net-of-tax amount		(2,177)	1,096	(1,967)	1,922
Derivative instruments:
Change in fair value of derivatives used for cash flow hedges		1,492	(2,609)	(1,277)	(4,999)
Reclassification adjustment for loss realized in interest expense	[3]	137	48	268	94
Reclassification adjustment for termination fee realized in interest expense	[4]	38		38
Net adjustments relating to derivative instruments		1,667	2,561	(971)	(4,905)
Tax effect		(567)	871	330	1,668
Net-of-tax amount		1,100	(1,690)	(641)	(3,237)
Defined benefit pension plans:
Losses arising during the period:				(62)
Reclassification adjustments:
Actuarial loss	[5]	$ 93		124
Transition asset	[5]		(5)		(10)
Net adjustments pertaining to defined benefit plans		$ 93	(5)	62	(10)
Tax effect		(30)	2	(21)	3
Net-of-tax amount		63	(3)	41	(7)
Other comprehensive loss		(1,014)	(597)	(2,567)	(1,322)
Comprehensive income		$ 350	$ 745	$ 135	$ 1,668
[1]	Gain realized in income on available-for-sale securities is recognized as a component of noninterest income. The tax provision applicable to net realized gains was $95,000 and $7,000 for the three months ended June 30, 2015 and 2014, respectively. The tax provision applicable to net realized gains was $376,000 and $17,000 for the six months ended June 30, 2015 and 2014, respectively.
[2]	Amortization of net unrealized loss on held-to-maturity securities is recognized as a component of interest income on debt securities. Income tax benefits associated with the reclassification adjustments were $40,000 and $4,000 for the three months ended June 30, 2015 and 2014, respectively. Income tax effects associated with the reclassification adjustments were a benefit of $65,000 and an expense of $-0- for the six months ended June 30, 2015 and 2014, respectively.
[3]	Loss realized in interest expense on derivative instruments is recognized as a component of interest expense on short-term debt. Income tax benefits associated with the reclassification adjustment were $60,000 and $16,000 for the three months ended June 30, 2015 and 2014, respectively. Income tax benefits associated with the reclassification adjustment were $104,000 and $32,000 for the six months ended June 30, 2015 and 2014, respectively.
[4]	Loss realized in interest expense on derivative instruments is recognized as a component of interest expense on short-term debt. Income tax benefits associated with the reclassification adjustment were $13,000 for the three and six months ended June 30, 2015, respectively.
[5]	Amounts represent the reclassification of defined benefit plans amortization and have been recognized as a component of salaries and employee benefits expense. Income tax effects associated with the reclassification adjustments were a benefit of $32,000 and an expense of $2,000 for the three months ended June 30, 2015 and 2014, respectively. Income tax effects associated with the reclassification adjustments were a benefit of $21,000 and an expense of $3,000, for the six months ended June 30, 2015 and 2014, respectively.

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Reclassification adjustment for gains realized in income ,tax	$ 95,000	$ 7,000	$ 376,000	$ 17,000
Amortization of net unrealized loss on held-to-maturity securities ,tax	40,000	4,000	65,000	0
Reclassification adjustment for loss realized in interest expense , tax	60,000	16,000	104,000	32,000
Reclassification adjustment for termination fee realized in interest expense ,tax	13,000		13,000
Reclassification of salaries and employee benefits expense,tax	$ 32,000	$ 2,000	$ 21,000	$ 3,000

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Unearned Compensation - ESOP [Member]	Unearned Compensation - Equity Incentive Plan [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
BEGINNING BALANCE at Dec. 31, 2013	$ 201	$ 121,860	$ (8,003)	$ (187)	$ 43,248	$ (2,975)	$ 154,144
BEGINNING BALANCE (in shares) at Dec. 31, 2013	20,140,669
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income					$ 2,990	$ (1,322)	1,668
Common stock held by ESOP committed to be released		$ 25	$ 267				292
Share-based compensation - equity incentive plan				$ 49			49
Excess tax benefit from equity incentive plan		$ 1					1
Common stock repurchased	$ (9)	$ (7,076)					(7,085)
Common stock repurchased (in shares)	(970,474)
Return of dividends issued in connection with equity incentive plan					$ 121		121
Cash dividends declared					(2,225)		(2,225)
ENDING BALANCE at Jun. 30, 2014	$ 192	$ 114,810	$ (7,736)	$ (138)	44,134	$ (4,297)	146,965
ENDING BALANCE (in shares) at Jun. 30, 2014	19,170,195
BEGINNING BALANCE at Dec. 31, 2014	$ 187	$ 111,696	$ (7,469)	$ (95)	45,699	(7,475)	142,543
BEGINNING BALANCE (in shares) at Dec. 31, 2014	18,734,791
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income					$ 2,702	$ (2,567)	135
Common stock held by ESOP committed to be released		$ 25	$ 259				284
Share-based compensation - equity incentive plan				$ 64			64
Excess tax benefit from equity incentive plan		$ 1					1
Common stock repurchased	$ (3)	(2,142)					$ (2,145)
Common stock repurchased (in shares)	(287,727)
Issuance of common stock in connection with equity incentive plan	$ 1	$ 348		$ (349)
Issuance of common stock in connection with equity incentive plan (in shares)	48,560
Cash dividends declared					$ (1,057)		$ (1,057)
ENDING BALANCE at Jun. 30, 2015	$ 185	$ 109,928	$ (7,210)	$ (380)	$ 47,344	$ (10,042)	$ 139,825
ENDING BALANCE (in shares) at Jun. 30, 2015	18,495,624

CONSOLIDATED STATEMENT OF CHAN8

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash dividends declared, per share	$ 0.06	$ 0.12
Unearned Compensation - ESOP [Member]
Common stock held by ESOP committed to be released, shares	76,888	79,345

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES:
Net income	$ 2,702	$ 2,990
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	650	550
Depreciation and amortization of premises and equipment	662	575
Net amortization of premiums and discounts on securities and mortgage loans	2,552	2,073
Net amortization of premiums on modified debt	221	313
Share-based compensation expense	64	49
ESOP expense	284	292
Excess tax benefits from equity incentive plan	(1)	(1)
Net gains on sales of securities	(1,093)	$ (50)
Loss on prepayment of borrowings	871
Income from bank-owned life insurance	(774)	$ (765)
Changes in assets and liabilities:
Accrued interest receivable	13	36
Other assets	(343)	(159)
Other liabilities	(633)	(109)
Net cash provided by operating activities	5,175	$ 5,794
Securities, held to maturity:
Purchases	(2,619)
Proceeds from calls, maturities, and principal collections	22,863	$ 5,610
Securities, available for sale:
Purchases	(132,193)	(21,206)
Proceeds from sales	77,783	60,690
Proceeds from calls, maturities, and principal collections	22,282	13,102
Purchase of residential mortgages	(32,007)	(21,561)
Loan originations and principal payments, net	(3,048)	(26,490)
(Purchase) redemption of Federal Home Loan Bank of Boston stock	(438)	575
Purchases of premises and equipment	(2,662)	(609)
Proceeds from sale of premises and equipment	23	33
Net cash (used in) provided by investing activities	(50,016)	10,144
FINANCING ACTIVITIES:
Net increase in deposits	63,496	1,478
Net change in short-term borrowings	17,254	$ 11,554
Repayment of long-term debt	(37,871)
Proceeds from long-term debt	$ 72	$ 70
Return of dividends issued in connection with equity incentive plan		121
Cash dividends paid	$ (1,057)	(2,225)
Common stock repurchased	(2,145)	(7,317)
Excess tax benefits in connection with equity incentive plan	1	1
Net cash provided by financing activities	39,750	3,682
NET CHANGE IN CASH AND CASH EQUIVALENTS:	(5,091)	19,620
Beginning of period	18,785	19,742
End of period	$ 13,694	39,362
Supplemental cash flow information:
Securities reclassified to loan portfolio		606
Interest paid	$ 5,342	4,817
Taxes paid	$ 1,155	41
Net cash due to broker for common stock repurchased		$ 67

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations The Bank’s deposits are insured to the limits specified by the Federal Deposit Insurance Corporation (“FDIC”). The Bank operates 13 banking offices in western Massachusetts and Granby and Enfield, Connecticut, and its primary sources of revenue are income from securities and earnings on loans to small and middle-market businesses and to residential property homeowners. Elm Street Securities Corporation and WFD Securities Corporation, Massachusetts-chartered security corporations, were formed by Westfield Financial for the primary purpose of holding qualified securities. WB Real Estate Holdings, LLC, a Massachusetts-chartered limited liability company was formed for the primary purpose of holding real property acquired as security for debts previously contracted by the Bank. Principles of Consolidation – Estimates – Basis of Presentation – These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2014, included in our Annual Report on Form 10-K for the year ended December 31, 2014 (the “2014 Annual Report”). Reclassifications

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2015
EARNINGS PER COMMON SHARE:
Earnings Per Share	2. EARNINGS PER SHARE Basic earnings per share represent income available to shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential shares had been issued, as well as any adjustment to income that would result from the assumed issuance. No dilutive potential shares were outstanding during the periods presented. Share-based compensation awards that qualify as participating securities (entitled to receive non-forfeitable dividends) are included in basic earnings per share. Earnings per common share for the three and six months ended June 30, 2015 and 2014 have been computed based on the following: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income applicable to common stock $ 1,364 $ 1,342 $ 2,702 $ 2,990 Average number of common shares issued 18,541 19,409 18,632 19,669 Less: Average unallocated ESOP Shares (1,021 ) (1,100 ) (1,031 ) (1,110 ) Average number of common shares outstanding used to calculate basic and diluted earnings per common share 17,520 18,309 17,601 18,559 Basic and diluted earnings per share $ 0.08 $ 0.07 $ 0.15 $ 0.16

COMPREHENSIVE INCOME_LOSS

COMPREHENSIVE INCOME/LOSS	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Comprehensive Income/Loss	3. COMPREHENSIVE INCOME/LOSS Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: June 30, December 31, 2014 (In thousands) Net unrealized (loss) gain on securities available for sale $ (2,144 ) $ 668 Tax effect 745 (226 ) Net-of-tax amount (1,399 ) 442 Net unrealized losses on securities transferred from available-for-sale to held-to-maturity (1,978 ) (1,787 ) Tax effect 682 617 Net-of-tax amount (1,296 ) (1,170 ) Fair value of derivatives used for cash flow hedges (6,710 ) (5,739 ) Tax effect 2,281 1,951 Net-of-tax amount (4,429 ) (3,788 ) Unrecognized deferred loss pertaining to defined benefit plan (4,422 ) (4,484 ) Tax effect 1,504 1,525 Net-of-tax amount (2,918 ) (2,959 ) Accumulated other comprehensive loss $ (10,042 ) $ (7,475 ) The following table presents changes in accumulated other loss for the periods ended June 30, 2015 and 2014 by component: Securities Derivatives Defined Benefit Plans Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2013 $ (2,706 ) $ 1,158 $ (1,427 ) $ (2,975 ) Current-period other comprehensive income (loss) 1,922 (3,237 ) (7 ) (1,322 ) Balance at June 30, 2014 $ (784 ) $ (2,079 ) $ (1,434 ) $ (4,297 ) Balance at December 31, 2014 $ (728 ) $ (3,788 ) $ (2,959 ) $ (7,475 ) Current-period other comprehensive income (loss) (1,967 ) (641 ) 41 (2,567 ) Balance at June 30, 2015 $ (2,695 ) $ (4,429 ) $ (2,918 ) $ (10,042 )

SECURITIES

SECURITIES	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
SECURITIES	4. SECURITIES Securities available for sale and held to maturity are summarized as follows: June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available for sale securities: Government-sponsored mortgage-backed securities $ 179,222 $ 66 $ (2,464 ) $ 176,824 U.S. government guaranteed mortgage-backed securities 8,489 — (100 ) 8,389 Corporate bonds 30,556 148 (144 ) 30,560 State and municipal bonds 11,707 295 (1 ) 12,001 Government-sponsored enterprise obligations 9,498 6 (56 ) 9,448 Mutual funds 6,367 2 (158 ) 6,211 Common and preferred stock 1,309 262 — 1,571 Total available for sale securities 247,148 779 (2,923 ) 245,004 Held to maturity securities: Government-sponsored mortgage-backed securities $ 156,187 $ 1,450 $ (1,576 ) $ 156,061 U.S. government guaranteed mortgage-backed securities 35,054 39 (594 ) 34,499 Corporate bonds 24,361 151 (158 ) 24,354 State and municipal bonds 7,252 42 (168 ) 7,126 Government-sponsored enterprise obligations 33,449 270 (835 ) 32,884 Total held to maturity securities 256,303 1,952 (3,331 ) 254,924 Total $ 503,451 $ 2,731 $ (6,254 ) $ 499,928 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available for sale securities: Government-sponsored mortgage-backed securities $ 139,637 $ 423 $ (847 ) $ 139,213 U.S. government guaranteed mortgage-backed securities 1,591 7 (12 ) 1,586 Corporate bonds 25,711 532 (20 ) 26,223 State and municipal bonds 16,472 562 — 17,034 Government-sponsored enterprise obligations 24,066 69 (156 ) 23,979 Mutual funds 6,296 8 (128 ) 6,176 Common and preferred stock 1,309 230 — 1,539 Total available for sale securities 215,082 1,831 (1,163 ) $ 215,750 Held to maturity securities: Government-sponsored mortgage-backed securities $ 164,001 $ 2,384 $ (1,453 ) 164,932 U.S. government guaranteed mortgage-backed securities 38,566 34 (607 ) 37,993 Corporate bonds 24,751 76 (248 ) 24,579 State and municipal bonds 7,285 59 (94 ) 7,250 Government-sponsored enterprise obligations 43,477 257 (852 ) 42,882 Total held to maturity securities 278,080 2,810 (3,254 ) 277,636 Total $ 493,162 $ 4,641 $ (4,417 ) $ 493,386 U.S. government-sponsored and guaranteed mortgage-backed securities are collateralized by both residential and multifamily loans. Our repurchase agreements and advances from the Federal Home Loan Bank of Boston (“FHLBB”) are collateralized by government-sponsored enterprise obligations and certain mortgage-backed securities (see Note 7). The amortized cost and fair value of securities available for sale and held to maturity at June 30, 2015, by maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers have the right to call or repay obligations. June 30, 2015 Securities Securities Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Mortgage-backed securities: Due after one year through five years $ 4,994 $ 5,035 $ — $ — Due after five years through ten years 16,434 16,179 46,073 45,265 Due after ten years 166,283 163,999 145,168 145,295 Total $ 187,711 $ 185,213 $ 191,241 $ 190,560 Debt securities: Due in one year or less $ 2,241 $ 2,259 $ 378 $ 377 Due after one year through five years 31,158 31,354 19,659 19,503 Due after five years through ten years 18,176 18,195 40,816 40,429 Due after ten years 186 201 4,209 4,055 Total $ 51,761 $ 52,009 $ 65,062 $ 64,364 Gross realized gains and losses on sales of securities available for sale for the three and six months ended June 30, 2015 and 2014 are as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Gross gains realized $ 276 $ 338 $ 1,163 $ 531 Gross losses realized — (317 ) (70 ) (481 ) Net gain realized $ 276 $ 21 $ 1,093 $ 50 Proceeds from the sale of securities available for sale amounted to $77.8 million and $60.7 million for the six months ended June 30, 2015 and 2014, respectively. The tax provision applicable to net realized gains was $95,000 and $376,000 for the three and six months ended June 30, 2015, respectively. The tax provision applicable to net realized gains was $7,000 and $17,000 for the three and six months ended June 30, 2014, respectively. Information pertaining to securities with gross unrealized losses at June 30, 2015, and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: June 30, 2015 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available for sale: Government-sponsored mortgage-backed securities $ 2,249 $ 154,561 $ 215 $ 10,309 U.S. government guaranteed mortgage-backed securities 83 7,761 17 628 Corporate bonds 137 21,708 7 1,493 State and municipal bonds 1 456 — — Government-sponsored enterprise obligations 36 3,964 20 3,480 Mutual funds 17 3,379 141 1,758 Total available for sale 2,523 191,829 400 17,668 Held to maturity: Government-sponsored mortgage-backed securities 1,334 61,710 242 10,258 U.S. government guaranteed mortgage-backed securities 511 7,158 83 11,168 Corporate bonds 67 8,484 91 10,838 State and municipal bonds 18 1,520 150 3,895 Government-sponsored enterprise obligations — — 835 23,173 Total held to maturity 1,930 78,872 1,401 59,332 Total $ 4,453 $ 270,701 $ 1,801 $ 77,000 December 31, 2014 Less Than 12 Months Over 12 Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available for sale: Government-sponsored mortgage-backed securities $ 47 $ 20,637 $ 800 $ 56,830 U.S. government guaranteed mortgage-backed securities — — 12 677 Corporate bonds 17 4,438 3 1,497 Government-sponsored enterprise obligations 52 9,189 104 7,396 Mutual funds — — 128 5,103 Total available for sale 116 34,264 1,047 71,503 Held to maturity: Government-sponsored mortgage-backed securities 200 10,292 1,253 65,526 U.S. government guaranteed mortgage-backed securities — — 607 31,951 Corporate bonds 128 5,684 120 13,918 State and municipal bonds — — 94 4,853 Government-sponsored enterprise obligations — — 852 33,224 Total held to maturity 328 15,976 2,926 149,472 Total $ 444 $ 50,240 $ 3,973 $ 220,975 June 30, 2015 Less Than 12 Months Over 12 Months Number of Securities Amortized Cost Basis Gross Loss Depreciation from Amortized Cost Basis (%) Number of Securities Amortized Cost Basis Gross Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Government-sponsored mortgage-backed securities 58 $ 219,855 $ 3,583 1.6 % 8 $ 21,024 $ 457 2.2 % U.S. government guaranteed mortgage-backed securities 3 15,513 594 3.8 3 11,896 100 0.8 Corporate bonds 13 30,396 204 0.7 4 12,429 98 0.8 State and municipal bonds 4 1,995 19 1.0 8 4,045 150 3.7 Government-sponsored enterprise obligations 2 4,000 36 0.9 6 27,508 855 3.1 Mutual funds 1 3,396 17 0.5 1 1,899 141 7.4 $ 275,155 $ 4,453 $ 78,801 $ 1,801 These unrealized losses are the result of changes in interest rates and not credit quality. Because we do not intend to sell the securities and it is more likely than not that we will not be required to sell the investments before recovery of their amortized cost basis, no declines are deemed to be other-than-temporary.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
LOANS AND ALLOWANCE FOR LOAN LOSSES	5. LOANS AND ALLOWANCE FOR LOAN LOSSES Loans consisted of the following amounts: June 30, December 31, 2015 2014 (In thousands) Commercial real estate $ 288,059 $ 278,405 Residential real estate: Residential 256,135 237,436 Home equity 41,090 40,305 Commercial and industrial 171,028 165,728 Consumer 1,464 1,542 Total Loans 757,776 723,416 Unearned premiums and deferred loan fees and costs, net 1,606 1,270 Allowance for loan losses (8,295 ) (7,948 ) $ 751,087 $ 716,738 During the six months ended June 30, 2015 and 2014, we purchased residential real estate loans aggregating $32.0 million and $21.6 million, respectively. We have transferred a portion of our originated commercial real estate loans to participating lenders. The amounts transferred have been accounted for as sales and are therefore not included in our accompanying unaudited consolidated balance sheets. We share ratably with our participating lenders in any gains or losses that may result from a borrower’s lack of compliance with contractual terms of the loan. We continue to service the loans on behalf of the participating lenders and, as such, collect cash payments from the borrowers, remit payments (net of servicing fees) to participating lenders and disburse required escrow funds to relevant parties. At June 30, 2015 and December 31, 2014, we serviced loans for participants aggregating $19.4 million and $20.5 million, respectively. Loans are recorded at the principal amount outstanding, adjusted for charge-offs, unearned premiums and deferred loan fees and costs. Interest on loans is calculated using the effective yield method on daily balances of the principal amount outstanding and is credited to income on the accrual basis to the extent it is deemed collectable. Our general policy is to discontinue the accrual of interest when principal or interest payments are delinquent 90 days or more based on the contractual terms of the loan, or earlier if the loan is considered impaired. Any unpaid amounts previously accrued on these loans are reversed from income. Subsequent cash receipts are applied to the outstanding principal balance or to interest income if, in the judgment of management, collection of the principal balance is not in question. Loans are returned to accrual status when they become current as to both principal and interest and perform in accordance with contractual terms for a period of at least six months, reducing the concern as to the collectability of principal and interest. Loan fees and certain direct loan origination costs are deferred, and the net fee or cost is recognized as an adjustment to interest income over the estimated average lives of the related loans. The allowance for loan losses is established through provisions for loan losses charged to expense. Loans are charged-off against the allowance when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated, and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate (includes one-to-four family and home equity), commercial real estate, commercial and industrial, and consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: trends in delinquencies and nonperforming loans; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; and national and local economic trends and industry conditions. There were no changes in our policies or methodology pertaining to the general component of the allowance for loan losses during the periods presented for disclosure. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate – We require private mortgage insurance for all loans originated with a loan-to-value ratio greater than 80% and we do not grant subprime loans. All loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Home equity loans are secured by first or second mortgages on one-to-four family owner occupied properties. Commercial real estate – Loans in this segment are primarily income-producing investment properties and owner occupied commercial properties throughout New England. The underlying cash flows generated by the properties or operations can be adversely impacted by a downturn in the economy due to increased vacancy rates or diminished cash flows, which in turn, would have an effect on the credit quality in this segment. Management obtains financial information annually and continually monitors the cash flows of these loans. Commercial and industrial loans – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, will have an effect on the credit quality in this segment. Consumer loans – Loans in this segment are secured or unsecured and repayment is dependent on the credit quality of the individual borrower. Allocated component The allocated component relates to loans that are classified as impaired. Impaired loans are identified by analysis of loan performance, internal credit ratings and watch list loans that management believes are subject to a higher risk of loss. Impairment is measured on a loan by loan basis for commercial real estate and commercial and industrial loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, we do not separately identify individual consumer and residential real estate loans for impairment disclosures, unless such loans are subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Unallocated component An unallocated component may be maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance, if any, reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. An analysis of changes in the allowance for loan losses by segment for the periods ended June 30, 2015 and 2014 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Three Months Ended Balance at March 31, 2014 $ 3,689 $ 1,812 $ 2,049 $ 13 $ 4 $ 7,567 Provision (credit) 209 36 202 8 (5 ) 450 Charge-offs — — — (13 ) — (13 ) Recoveries — — 7 6 — 13 Balance at June 30, 2014 $ 3,898 $ 1,848 $ 2,258 $ 14 $ (1 ) $ 8,017 Balance at March 31, 2015 $ 3,839 $ 1,978 $ 2,211 $ 22 $ (15 ) $ 8,035 Provision (credit) 11 149 191 14 (15 ) 350 Charge-offs — (15 ) (70 ) (16 ) — (101 ) Recoveries — 5 2 4 — 11 Balance at June 30, 2015 $ 3,850 $ 2,117 $ 2,334 $ 24 $ (30 ) $ 8,295 Six Months Ended Balance at December 31, 2013 $ 3,549 $ 1,707 $ 2,192 $ 13 $ (2 ) $ 7,459 Provision 349 155 30 15 1 550 Charge-offs — (15 ) (74 ) (23 ) — (112 ) Recoveries — 1 110 9 — 120 Balance at June 30, 2014 $ 3,898 $ 1,848 $ 2,258 $ 14 $ (1 ) $ 8,017 Balance at December 31, 2014 $ 3,705 $ 2,053 $ 2,174 $ 15 $ 1 $ 7,948 Provision (credit) 145 73 438 25 (31 ) 650 Charge-offs — (15 ) (282 ) (29 ) — (326 ) Recoveries — 6 4 13 — 23 Balance at June 30, 2015 $ 3,850 $ 2,117 $ 2,334 $ 24 $ (30 ) $ 8,295 Further information pertaining to the allowance for loan losses by segment at June 30, 2015 and December 31, 2014 follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) June 30, 2015 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired 3,850 2,117 2,334 24 (30 ) 8,295 Total allowance for loan losses $ 3,850 $ 2,117 $ 2,334 $ 24 $ (30 ) $ 8,295 Loans individually evaluated and deemed impaired $ 3,074 $ 284 $ 4,029 $ — $ — $ 7,387 Loans collectively or individually evaluated and not deemed impaired 284,985 296,941 166,999 1,464 — 750,389 Total loans $ 288,059 $ 297,225 $ 171,028 $ 1,464 $ — $ 757,776 December 31, 2014 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired 3,705 2,053 2,174 15 1 7,948 Total allowance for loan losses 3,705 2,053 2,174 15 1 7,948 Loans individually evaluated and deemed impaired 3,104 291 4,436 — — 7,831 Loans collectively or individually evaluated and not deemed impaired 275,301 277,450 161,292 1,542 — 715,585 Total loans $ 278,405 $ 277,741 $ 165,728 $ 1,542 $ — $ 723,416 The following is a summary of past due and non-accrual loans by class at June 30, 2015 and December 31, 2014: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater than 90 Days Past Due Total Past Due Past Due 90 Days or More and Still Accruing Loans on Non-Accrual (In thousands) June 30, 2015 Commercial real estate $ 241 $ 541 $ 515 $ 1,297 $ — $ 2,795 Residential real estate: Residential 448 88 754 1,290 — 1,397 Home equity 209 — 1 210 — 1 Commercial and industrial 104 98 568 770 — 3,808 Consumer 15 — — 15 — 12 Total $ 1,017 $ 727 $ 1,838 $ 3,582 $ — $ 8,013 December 31, 2014 Commercial real estate $ 3,003 $ — $ 529 $ 3,532 $ — $ 3,257 Residential real estate: Residential 314 61 1,158 1,533 — 1,323 Home equity 252 — 1 253 — 1 Commercial and industrial 169 — 394 563 — 4,233 Consumer 22 — 3 25 — 16 Total $ 3,760 $ 61 $ 2,085 $ 5,906 $ — $ 8,830 The following is a summary of impaired loans by class at June 30, 2015 and December 31, 2014: Three Months Ended Six Months Ended At June 30, 2015 June 30, 2015 June 30, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired loans without a valuation allowance: Commercial real estate $ 3,074 $ 3,659 $ — $ 3,067 $ — $ 3,075 — Residential real estate 284 406 — 285 — 287 — Commercial and industrial 4,029 5,133 — 4,020 — 4,121 — Total 7,387 9,198 — 7,372 — 7,483 — Total impaired loans $ 7,387 $ 9,198 $ — $ 7,372 $ — $ 7,483 $ — Three Months Ended Six Months Ended At December 31, 2014 June 30, 2014 June 30, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired loans without a valuation allowance: Commercial real estate $ 3,104 $ 3,662 $ — $ 1,417 $ — $ 1,429 $ — Residential real estate 291 407 — 211 — 217 — Commercial and industrial 4,436 5,181 — 758 — 667 — Total 7,831 9,250 — 2,386 — 2,313 — Impaired loans with a valuation allowance: Commercial real estate — — — 13,386 143 13,428 286 Commercial and industrial — — — 958 10 961 20 Total — — — 14,344 153 14,389 306 Total impaired loans $ 7,831 $ 9,250 $ — $ 16,730 $ 153 $ 16,702 $ 306 All interest income recognized for impaired loans during the three and six months ended June 30, 2014 related to performing TDR loans and was recognized on the accrual basis. We may periodically agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). These concessions could include a reduction in the interest rate on the loan, payment extensions, postponement or forgiveness of principal, forbearance or other actions intended to maximize collection. All TDRs are classified as impaired. When we modify loans in a TDR, we measure impairment similar to other impaired loans based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, or use the current fair value of the collateral, less selling costs for collateral dependent loans. If we determine that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through an allowance estimate or a charge-off to the allowance. In periods subsequent to modification, we evaluate all TDRs, including those that have payment defaults, for possible impairment and recognize impairment through the allowance. Nonperforming TDRs are shown as nonperforming assets. No loans were modified as a TDR during the three and six months ended June 30, 2015 and 2014. A default occurs when a loan is 30 days or more past due. No TDRs defaulted within 12 months of restructuring during the three and six months ended June 30, 2015 and 2014. There were $0 and $70,000 in charge-offs on TDRs during the three and six months ended June 30, 2015. There were no charge-offs on TDRs during the three and six months ended June 30, 2014. Credit Quality Information We utilize an eight-grade internal loan rating system for commercial real estate and commercial and industrial loans. Performing residential real estate, home equity and consumer loans are grouped with “Pass” rated loans. Nonperforming residential real estate, home equity and consumer loans are monitored individually for impairment and risk rated as “Substandard.” Loans rated 1 – 3 are considered “Pass” rated loans with low to average risk. Loans rated 4 are considered “Pass Watch,” which represent loans to borrowers with declining earnings, losses, or strained cash flow. Loans rated 5 are considered “Special Mention.” These loans exhibit potential credit weaknesses or downward trends and are being closely monitored by us. Loans rated 6 are considered “Substandard.” Generally, a loan is considered substandard if the borrower exhibits a well-defined weakness that may be inadequately protected by the current net worth and cash flow capacity to pay the current debt. Loans rated 7 are considered “Doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable and that a partial loss of principal is likely. Loans rated 8 are considered uncollectible and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, we formally review the ratings on all commercial real estate and commercial and industrial loans. Construction loans are reported within commercial real estate loans and total $4.2 million and $16.8 million at June 30, 2015 and December 31, 2014, respectively. We engage an independent third party to review a significant portion of loans within these segments on a semi-annual basis. We use the results of these reviews as part of our annual review process. In addition, management utilizes delinquency reports, the watch list and other loan reports to monitor credit quality in other segments. The following table presents our loans by risk rating at June 30, 2015 and December 31, 2014: Commercial Real Estate Residential 1-4 family Home Equity Commercial and Industrial Consumer Total (Dollars in thousands) June 30, 2015 Loans rated 1 – 3 $ 245,194 $ 254,738 $ 41,089 $ 140,988 $ 1,452 $ 683,461 Loans rated 4 35,082 — — 8,361 — 43,443 Loans rated 5 541 — — 12,961 — 13,502 Loans rated 6 7,242 1,397 1 8,663 12 17,315 Loans rated 7 — — — 55 — 55 $ 288,059 $ 256,135 $ 41,090 $ 171,028 $ 1,464 $ 757,776 December 31, 2014 Loans rated 1 – 3 $ 234,010 $ 236,113 $ 40,282 $ 139,109 $ 1,526 $ 651,040 Loans rated 4 33,305 — — 16,841 — 50,146 Loans rated 5 7,833 — 22 5,545 — 13,400 Loans rated 6 3,257 1,323 1 4,233 16 8,830 Loans rated 7 — — — — — — $ 278,405 $ 237,436 $ 40,305 $ 165,728 $ 1,542 $ 723,416

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	6. SHARE-BASED COMPENSATION Restricted Stock Awards In May 2014, our shareholders approved a new stock-based compensation plan under which up to 516,000 shares of our common stock have been reserved for future grants of stock awards, including stock options and restricted stock, which may be granted to any officer, key employee or non-employee director of Westfield Financial. Shares issued upon vesting may be either authorized but unissued shares or reacquired shares held by us. Any shares not issued because vesting requirements are not met will again be available for issuance under the plans. Restricted shares awarded vest ratably over five years. The fair market value of shares awarded, based on the market price at the date of grant, is recorded as unearned compensation and amortized over the applicable vesting period. At June 30, 2015, 48,560 shares had been granted under this plan. Our stock award and stock option plans activity for the six months ended June 30, 2015 and 2014 is summarized below: Unvested Stock Awards Outstanding Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2014 13,000 $ 8.07 Shares granted 48,560 7.18 Outstanding at June 30, 2015 61,560 $ 7.37 Outstanding at December 31, 2013 25,720 $ 7.93 No activity — — Outstanding at June 30, 2014 25,720 $ 7.93

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	7. SHORT-TERM BORROWINGS AND LONG-TERM DEBT We utilize short-term borrowings and long-term debt as an additional source of funds to finance our lending and investing activities and to provide liquidity for daily operations. Short-term borrowings are made up of FHLBB advances with an original maturity of less than one year, a line of credit with the FHLBB and customer repurchase agreements, which have an original maturity of one day. Short-term borrowings issued by the FHLBB were $75.0 and $62.8 million at June 30, 2015 and December 31, 2014, respectively. There were no advances outstanding on the line of credit as of June 30, 2015. At December 31, 2014, there was a $1.8 million advance outstanding under this line. Customer repurchase agreements were $31.3 million at June 30, 2015 and $31.2 million at December 31, 2014. A customer repurchase agreement is an agreement by us to sell to and repurchase from the customer an interest in specific securities issued by or guaranteed by the U.S. government. This transaction settles immediately on a same day basis in immediately available funds. Interest paid is commensurate with other products of equal interest and credit risk. In addition, we have lines of credit of $4.0 million and $50.0 million with Bankers Bank Northeast (“BBN”) and PNC Bank, respectively. The interest rates on these lines are determined and reset on a daily basis by each respective bank. There were no advances outstanding under these lines of credit at December 31, 2014. At June 30, 2015, there was a $5.0 million advance outstanding at PNC Bank with a rate of 0.45%. There were no advances outstanding under the BBN line of credit at June 30, 2015. As part of our contract with BBN, we are required to maintain a reserve balance of $300,000 with BBN for our use of this line of credit. Long-term debt consists of FHLBB advances with an original maturity of one year or more and customer repurchase agreements linked to deposit accounts with no stated maturity. At June 30, 2015, we had $189.9 million in long-term debt with the FHLBB. This compares to $216.7 million in long-term debt with FHLBB advances and $10.0 million in securities sold under repurchase agreements with an approved broker-dealer at December 31, 2014. Long-term customer repurchase agreements were $5.8 million at both June 30, 2015 and December 31, 2014. Customer repurchase agreements are collateralized by government-sponsored enterprise obligations with fair value of $11.7 million and $21.6 million, and mortgage backed securities with a fair value of $58.5 million and $44.4 million, at June 30, 2015 and December 31, 2014, respectively. The securities collateralizing repurchase agreements are subject to fluctuations in fair value. We monitor the fair value of the collateral on a periodic basis, and would pledge additional collateral if necessary based on changes in fair value of collateral or the balances of the repurchase agreements. During the first quarter of 2015, we prepaid a repurchase agreement in the amount of $10.0 million and incurred a prepayment expense of $593,000. The repurchase agreement had a cost of 2.65%. During the second quarter of 2015, we prepaid FHLBB borrowings in the amount of $10.0 million and incurred a prepayment expense of $278,000. The FHLBB borrowings had a weighted average cost of 2.77%. The prepayment of these borrowings should result in a decrease to the cost of funds and an increase to the net interest margin. There were no such prepayments on any FHLBB borrowings for the six months ended December 31, 2014. All FHLBB advances are collateralized by a blanket lien on our owner occupied residential real estate loans and certain mortgage-backed securities.

PENSION BENEFITS

PENSION BENEFITS	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
PENSION BENEFITS	8. PENSION BENEFITS The following table provides information regarding net pension benefit costs for the periods shown: Three Months Ended Six Months Ended, June 30, June 30, 2015 2014 2015 2014 (In thousands) Service cost $ 305 $ 250 $ 614 $ 500 Interest cost 225 208 451 417 Expected return on assets (283 ) (240 ) (567 ) (480 ) Transition obligation — (5 ) — (10 ) Actuarial loss 31 — 62 — Net periodic pension cost $ 278 $ 213 $ 560 $ 427 We maintain a pension plan for our eligible employees. We plan to contribute to the pension plan the amount required to meet the minimum funding standards under Section 412 of the Internal Revenue Code of 1986, as amended. Additional contributions will be made as deemed appropriate by management in conjunction with the pension plan’s actuaries. We have not yet determined how much we expect to contribute to our pension plan in 2015. No contributions have been made to the plan for the six months ended June 30, 2015. The pension plan assets are invested in group annuity contracts with the Principal Financial Group, who also acts as our 401(k) plan third-party administrator.

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	9. DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of our assets and liabilities and the use of derivative financial instruments. Specifically, we entered into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash receipts and our known or expected cash payments principally related to certain variable rate loan assets and variable rate borrowings. Fair Values of Derivative Instruments on the Balance Sheet The table below presents the fair value of our derivative financial instruments designated as hedging instruments as well as our classification on the balance sheet as of June 30, 2015 and December 31, 2014. June 30, 2015 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Interest rate swaps N/A $ — Other Liabilities $ 5,094 Total derivatives designated as hedging instruments $ — $ 5,094 December 31, 2014 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Interest rate swaps Other Assets $ 9 Other Liabilities $ 5,748 Total derivatives designated as hedging instruments $ 9 $ 5,748 At June 30, 2015, we held no derivatives that were not designated as hedging instruments. Cash Flow Hedges of Interest Rate Risk Our objectives in using interest rate derivatives are to add stability to interest income and expense and to manage our exposure to interest rate movements. To accomplish this objective, we entered into interest rate swaps in September 2013 as part of our interest rate risk management strategy. These interest rate swaps are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for our making fixed payments. The following table presents information about our cash flow hedges at June 30, 2015 and December 31, 2014: June 30, 2015 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 40,000 2.8 0.29 % 1.52 % $ (435 ) Forward starting interest rate swaps on FHLBB borrowings 80,000 6.7 — 3.34 % (4,659 ) Total cash flow hedges $ 120,000 5.4 $ (5,094 ) December 31, 2014 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 40,000 3.3 0.23 % 1.52 % $ (268 ) Forward starting interest rate swaps on FHLBB borrowings 115,000 6.7 — 3.11 % (5,471 ) Total cash flow hedges $ 155,000 5.8 $ (5,739 ) The forward-starting interest rate swaps will become effective in 2015 and 2016 with notional amounts of $12.5 million and $67.5 million, respectively. During the second quarter of 2015, we terminated a forward-starting interest rate swap with a notional amount of $35.0 million and incurred a termination fee of $1.6 million. The fee will be amortized monthly over a five-year period as a component of interest expense and other comprehensive income over the term of the previously hedged borrowing. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (outside of earnings), net of tax, and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. We assess the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. We did not recognize any hedge ineffectiveness in earnings during the three and six months ended June 30, 2015 and 2014. We are hedging our exposure to the variability in future cash flows for forecasted transactions over a maximum period of six years (excluding forecasted transactions related to the payment of variable interest on existing financial instruments). Amounts reported in accumulated other comprehensive loss related to these derivatives will be reclassified to interest expense as interest payments are made on our rate sensitive assets/liabilities. The amount reclassified from accumulated comprehensive income into income for the effective portion of interest rate swaps was $175,000 and $48,000 during the three months ended June 30, 2015 and 2014, respectively. The amount reclassified from accumulated comprehensive income into income for the effective portion of interest rate swaps was $306,000 and $94,000 during the six months ended June 30, 2015 and 2014. The table below presents the pre-tax net gains (losses) of our cash flow hedges for the periods indicated. Amount of Gain (Loss) Recognized in OCI on Derivative Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Interest rate swaps $ 1,492 $ (2,609 ) $ (1,277 ) $ (4,999 ) Credit-risk-related Contingent Features By using derivative financial instruments, we expose ourselves to credit risk. Credit risk is the risk of failure by the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes us, which creates credit risk for us. When the fair value of a derivative is negative, we owe the counterparty and, therefore, it does not possess credit risk. The credit risk in derivative instruments is mitigated by entering into transactions with highly-rated counterparties that we believe to be creditworthy and by limiting the amount of exposure to each counterparty. We have agreements with our derivative counterparties that contain a provision where if we default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. We also have agreements with certain of our derivative counterparties that contain a provision where if we fail to maintain our status as well capitalized, then the counterparty could terminate the derivative positions and we would be required to settle our obligations under the agreements. Certain of our agreements with our derivative counterparties contain provisions where if a formal administrative action by a federal or state regulatory agency occurs that materially changes our creditworthiness in an adverse manner, we may be required to fully collateralize our obligations under the derivative instrument. As of June 30, 2015, the termination value of derivatives in a net liability position related to these agreements, which includes accrued interest but excludes any adjustment for nonperformance risk, was $5.1 million. As of June 30, 2015, we have minimum collateral posting thresholds with certain of our derivative counterparties and have no collateral posted against our obligations under these agreements. If we had breached any of these provisions at June 30, 2015, we could have been required to settle our obligations under the agreements at the termination value.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF ASSETS AND LIABILITIES	10. FAIR VALUE OF ASSETS AND LIABILITIES Determination of Fair Value We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for our various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Fair Value Hierarchy Level 1 – Valuation is based on quoted prices in active markets for identical assets. Level 1 assets generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets. Level 3 assets include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Methods and assumptions for valuing our financial instruments are set forth below. Estimated fair values are calculated based on the value without regard to any premium or discount that may result from concentrations of ownership of a financial instrument, possible tax ramifications or estimated transaction cost. Cash and cash equivalents Securities Federal Home Loan Bank and other restricted stock Loans receivable Accrued interest Deposit liabilities Short-term borrowings and long-term debt Interest rate swaps Commitments to extend credit Assets and liabilities measured at fair value on a recurring basis are summarized below: June 30, 2015 Level 1 Level 2 Level 3 Total Assets: (In thousands) Securities available for sale: Government-sponsored residential mortgage-backed securities $ — $ 176,824 $ — $ 176,824 U.S. Government guaranteed residential mortgage-backed securities — 8,389 — 8,389 Corporate bonds — 30,560 — 30,560 State and municipal bonds — 12,001 — 12,001 Government-sponsored enterprise obligations — 9,448 — 9,448 Mutual funds 6,211 — — 6,211 Common and preferred stock 1,571 — — 1,571 Total assets $ 7,782 $ 237,222 $ — $ 245,004 Liabilities: Interest rate swaps $ — $ 5,094 $ — $ 5,094 December 31, 2014 Level 1 Level 2 Level 3 Total Assets: (In thousands) Government-sponsored residential mortgage-backed securities $ — $ 139,213 $ — $ 139,213 U.S. Government guaranteed residential mortgage-backed securities — 1,586 — 1,586 Corporate bonds — 26,223 — 26,223 State and municipal bonds — 17,034 — 17,034 Government-sponsored enterprise obligations — 23,979 — 23,979 Mutual funds 6,176 — — 6,176 Common and preferred stock 1,539 — — 1,539 Total securities available for sale 7,715 208,035 — 215,750 Interest rate swaps — 9 — 9 Total assets $ 7,715 $ 208,044 $ — $ 215,759 Liabilities: Interest rate swaps $ — $ 5,748 $ — $ 5,748 Also, we may be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with U.S. GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at June 30, 2015 and 2014. Total losses represent the change in carrying value as a result of fair value adjustments related to assets still held at June 30, 2015 and 2014. At Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 June 30, 2015 Level 1 Level 2 Level 3 Total Losses Total Losses (In thousands) (In thousands) (In thousands) Impaired loans $ — $ — $ 158 $ 70 $ 282 At Three Months Ended Six Months Ended June 30, 2014 June 30, 2014 June 30, 2014 Level 1 Level 2 Level 3 Total Losses Total Losses (In thousands) (In thousands) (In thousands) Impaired loans $ — $ — $ 91 $ — $ 15 The amount of impaired loans represents the carrying value and related write-down and valuation allowance of impaired loans for which adjustments are based on the estimated fair value of the underlying collateral. The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on real estate appraisals performed by independent licensed or certified appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Management will discount appraisals as deemed necessary based on the date of the appraisal and new information deemed relevant to the valuation. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. The resulting losses were recognized in earnings through the provision for loan losses. Impaired loans with adjustments resulting from discounted cash flows or without a specific reserve are not included in this disclosure. There were no transfers to or from Level 1 and 2 during the three and six months ended June 30, 2015 and 2014. We did not measure any liabilities at fair value on a non-recurring basis on the consolidated balance sheets. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time our entire holdings of a particular financial instrument. Where quoted market prices are not available, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment. Changes in assumptions could significantly affect the estimates. The estimated fair values of our financial instruments are as follows: June 30, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 13,694 $ 13,694 $ — $ — $ 13,694 Securities available for sale 245,004 7,782 237,222 — 245,004 Securities held to maturity 256,303 — 254,924 — 254,924 Federal Home Loan Bank of Boston and other restricted stock 15,372 — — 15,372 15,372 Loans - net 751,087 — — 756,140 756,140 Accrued interest receivable 4,200 — — 4,200 4,200 Liabilities: Deposits 897,714 — — 898,757 898,757 Short-term borrowings 111,251 — 109,497 — 109,497 Long-term debt 195,772 — 199,040 — 199,040 Accrued interest payable 472 — — 472 472 Derivative liabilities 5,094 — 5,094 — 5,094 December 31, 2014 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 18,785 $ 18,785 $ — $ — $ 18,785 Securities available for sale 215,750 7,715 208,035 — 215,750 Securities held to maturity 278,080 — 277,636 — 277,636 Federal Home Loan Bank of Boston and other restricted stock 14,934 — — 14,934 14,934 Loans - net 716,738 — — 721,818 721,818 Accrued interest receivable 4,213 — — 4,213 4,213 Derivative assets 9 — 9 — 9 Liabilities: Deposits 834,218 — — 834,838 834,838 Short-term borrowings 93,997 — 93,997 — 93,997 Long-term debt 232,479 — 236,457 — 236,457 Accrued interest payable 501 — — 501 501 Derivative liabilities 5,748 — 5,748 — 5,748

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2015
Recent Accounting Pronouncements
RECENT ACCOUNTING PRONOUNCEMENTS	11. RECENT ACCOUNTING PRONOUNCEMENTS There are no new accounting pronouncements issued but not yet effective that will have a material impact on our consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations The Bank’s deposits are insured to the limits specified by the Federal Deposit Insurance Corporation (“FDIC”). The Bank operates 13 banking offices in western Massachusetts and Granby and Enfield, Connecticut, and its primary sources of revenue are income from securities and earnings on loans to small and middle-market businesses and to residential property homeowners. Elm Street Securities Corporation and WFD Securities Corporation, Massachusetts-chartered security corporations, were formed by Westfield Financial for the primary purpose of holding qualified securities. WB Real Estate Holdings, LLC, a Massachusetts-chartered limited liability company was formed for the primary purpose of holding real property acquired as security for debts previously contracted by the Bank.
Principles of Consolidation	Principles of Consolidation –
Estimates	Estimates –
Basis of Presentation	Basis of Presentation – These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2014, included in our Annual Report on Form 10-K for the year ended December 31, 2014 (the “2014 Annual Report”).
Reclassifications	Reclassifications

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2015
EARNINGS PER COMMON SHARE:
EARNINGS PER SHARE	Earnings per common share for the three and six months ended June 30, 2015 and 2014 have been computed based on the following: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income applicable to common stock $ 1,364 $ 1,342 $ 2,702 $ 2,990 Average number of common shares issued 18,541 19,409 18,632 19,669 Less: Average unallocated ESOP Shares (1,021 ) (1,100 ) (1,031 ) (1,110 ) Average number of common shares outstanding used to calculate basic and diluted earnings per common share 17,520 18,309 17,601 18,559 Basic and diluted earnings per share $ 0.08 $ 0.07 $ 0.15 $ 0.16

COMPRENSIVE INCOME_LOSS (Tables

COMPRENSIVE INCOME/LOSS (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Components of accumulated other comprehensive loss in sharesholders equity	The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: June 30, December 31, 2014 (In thousands) Net unrealized (loss) gain on securities available for sale $ (2,144 ) $ 668 Tax effect 745 (226 ) Net-of-tax amount (1,399 ) 442 Net unrealized losses on securities transferred from available-for-sale to held-to-maturity (1,978 ) (1,787 ) Tax effect 682 617 Net-of-tax amount (1,296 ) (1,170 ) Fair value of derivatives used for cash flow hedges (6,710 ) (5,739 ) Tax effect 2,281 1,951 Net-of-tax amount (4,429 ) (3,788 ) Unrecognized deferred loss pertaining to defined benefit plan (4,422 ) (4,484 ) Tax effect 1,504 1,525 Net-of-tax amount (2,918 ) (2,959 ) Accumulated other comprehensive loss $ (10,042 ) $ (7,475 )
Schedule of changes in accumulated other loss	The following table presents changes in accumulated other loss for the periods ended June 30, 2015 and 2014 by component: Securities Derivatives Defined Benefit Plans Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2013 $ (2,706 ) $ 1,158 $ (1,427 ) $ (2,975 ) Current-period other comprehensive income (loss) 1,922 (3,237 ) (7 ) (1,322 ) Balance at June 30, 2014 $ (784 ) $ (2,079 ) $ (1,434 ) $ (4,297 ) Balance at December 31, 2014 $ (728 ) $ (3,788 ) $ (2,959 ) $ (7,475 ) Current-period other comprehensive income (loss) (1,967 ) (641 ) 41 (2,567 ) Balance at June 30, 2015 $ (2,695 ) $ (4,429 ) $ (2,918 ) $ (10,042 )

SECURITIES (Tables)

SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of securities available for sale and held to maturity	Securities available for sale and held to maturity are summarized as follows: June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available for sale securities: Government-sponsored mortgage-backed securities $ 179,222 $ 66 $ (2,464 ) $ 176,824 U.S. government guaranteed mortgage-backed securities 8,489 — (100 ) 8,389 Corporate bonds 30,556 148 (144 ) 30,560 State and municipal bonds 11,707 295 (1 ) 12,001 Government-sponsored enterprise obligations 9,498 6 (56 ) 9,448 Mutual funds 6,367 2 (158 ) 6,211 Common and preferred stock 1,309 262 — 1,571 Total available for sale securities 247,148 779 (2,923 ) 245,004 Held to maturity securities: Government-sponsored mortgage-backed securities $ 156,187 $ 1,450 $ (1,576 ) $ 156,061 U.S. government guaranteed mortgage-backed securities 35,054 39 (594 ) 34,499 Corporate bonds 24,361 151 (158 ) 24,354 State and municipal bonds 7,252 42 (168 ) 7,126 Government-sponsored enterprise obligations 33,449 270 (835 ) 32,884 Total held to maturity securities 256,303 1,952 (3,331 ) 254,924 Total $ 503,451 $ 2,731 $ (6,254 ) $ 499,928 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available for sale securities: Government-sponsored mortgage-backed securities $ 139,637 $ 423 $ (847 ) $ 139,213 U.S. government guaranteed mortgage-backed securities 1,591 7 (12 ) 1,586 Corporate bonds 25,711 532 (20 ) 26,223 State and municipal bonds 16,472 562 — 17,034 Government-sponsored enterprise obligations 24,066 69 (156 ) 23,979 Mutual funds 6,296 8 (128 ) 6,176 Common and preferred stock 1,309 230 — 1,539 Total available for sale securities 215,082 1,831 (1,163 ) $ 215,750 Held to maturity securities: Government-sponsored mortgage-backed securities $ 164,001 $ 2,384 $ (1,453 ) 164,932 U.S. government guaranteed mortgage-backed securities 38,566 34 (607 ) 37,993 Corporate bonds 24,751 76 (248 ) 24,579 State and municipal bonds 7,285 59 (94 ) 7,250 Government-sponsored enterprise obligations 43,477 257 (852 ) 42,882 Total held to maturity securities 278,080 2,810 (3,254 ) 277,636 Total $ 493,162 $ 4,641 $ (4,417 ) $ 493,386
Schedule of amortized cost and fair value of securities available for sale and held to maturity by maturity	The amortized cost and fair value of securities available for sale and held to maturity at June 30, 2015, by maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers have the right to call or repay obligations. June 30, 2015 Securities Securities Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Mortgage-backed securities: Due after one year through five years $ 4,994 $ 5,035 $ — $ — Due after five years through ten years 16,434 16,179 46,073 45,265 Due after ten years 166,283 163,999 145,168 145,295 Total $ 187,711 $ 185,213 $ 191,241 $ 190,560 Debt securities: Due in one year or less $ 2,241 $ 2,259 $ 378 $ 377 Due after one year through five years 31,158 31,354 19,659 19,503 Due after five years through ten years 18,176 18,195 40,816 40,429 Due after ten years 186 201 4,209 4,055 Total $ 51,761 $ 52,009 $ 65,062 $ 64,364
Gross Realized Gains and Losses on Sales of Securities Available for Sale	Gross realized gains and losses on sales of securities available for sale for the three and six months ended June 30, 2015 and 2014 are as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Gross gains realized $ 276 $ 338 $ 1,163 $ 531 Gross losses realized — (317 ) (70 ) (481 ) Net gain realized $ 276 $ 21 $ 1,093 $ 50
Securities with Gross Unrealized Losses in Continuous Loss Position	Information pertaining to securities with gross unrealized losses at June 30, 2015, and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: June 30, 2015 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available for sale: Government-sponsored mortgage-backed securities $ 2,249 $ 154,561 $ 215 $ 10,309 U.S. government guaranteed mortgage-backed securities 83 7,761 17 628 Corporate bonds 137 21,708 7 1,493 State and municipal bonds 1 456 — — Government-sponsored enterprise obligations 36 3,964 20 3,480 Mutual funds 17 3,379 141 1,758 Total available for sale 2,523 191,829 400 17,668 Held to maturity: Government-sponsored mortgage-backed securities 1,334 61,710 242 10,258 U.S. government guaranteed mortgage-backed securities 511 7,158 83 11,168 Corporate bonds 67 8,484 91 10,838 State and municipal bonds 18 1,520 150 3,895 Government-sponsored enterprise obligations — — 835 23,173 Total held to maturity 1,930 78,872 1,401 59,332 Total $ 4,453 $ 270,701 $ 1,801 $ 77,000 December 31, 2014 Less Than 12 Months Over 12 Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available for sale: Government-sponsored mortgage-backed securities $ 47 $ 20,637 $ 800 $ 56,830 U.S. government guaranteed mortgage-backed securities — — 12 677 Corporate bonds 17 4,438 3 1,497 Government-sponsored enterprise obligations 52 9,189 104 7,396 Mutual funds — — 128 5,103 Total available for sale 116 34,264 1,047 71,503 Held to maturity: Government-sponsored mortgage-backed securities 200 10,292 1,253 65,526 U.S. government guaranteed mortgage-backed securities — — 607 31,951 Corporate bonds 128 5,684 120 13,918 State and municipal bonds — — 94 4,853 Government-sponsored enterprise obligations — — 852 33,224 Total held to maturity 328 15,976 2,926 149,472 Total $ 444 $ 50,240 $ 3,973 $ 220,975 June 30, 2015 Less Than 12 Months Over 12 Months Number of Securities Amortized Cost Basis Gross Loss Depreciation from Amortized Cost Basis (%) Number of Securities Amortized Cost Basis Gross Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Government-sponsored mortgage-backed securities 58 $ 219,855 $ 3,583 1.6 % 8 $ 21,024 $ 457 2.2 % U.S. government guaranteed mortgage-backed securities 3 15,513 594 3.8 3 11,896 100 0.8 Corporate bonds 13 30,396 204 0.7 4 12,429 98 0.8 State and municipal bonds 4 1,995 19 1.0 8 4,045 150 3.7 Government-sponsored enterprise obligations 2 4,000 36 0.9 6 27,508 855 3.1 Mutual funds 1 3,396 17 0.5 1 1,899 141 7.4 $ 275,155 $ 4,453 $ 78,801 $ 1,801

LOANS AND ALLOWANCE FOR LOAN 25

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Schedule of loans	Loans consisted of the following amounts: June 30, December 31, 2015 2014 (In thousands) Commercial real estate $ 288,059 $ 278,405 Residential real estate: Residential 256,135 237,436 Home equity 41,090 40,305 Commercial and industrial 171,028 165,728 Consumer 1,464 1,542 Total Loans 757,776 723,416 Unearned premiums and deferred loan fees and costs, net 1,606 1,270 Allowance for loan losses (8,295 ) (7,948 ) $ 751,087 $ 716,738
Analysis of changes in allowance for loan losses by segment	An analysis of changes in the allowance for loan losses by segment for the periods ended June 30, 2015 and 2014 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Three Months Ended Balance at March 31, 2014 $ 3,689 $ 1,812 $ 2,049 $ 13 $ 4 $ 7,567 Provision (credit) 209 36 202 8 (5 ) 450 Charge-offs — — — (13 ) — (13 ) Recoveries — — 7 6 — 13 Balance at June 30, 2014 $ 3,898 $ 1,848 $ 2,258 $ 14 $ (1 ) $ 8,017 Balance at March 31, 2015 $ 3,839 $ 1,978 $ 2,211 $ 22 $ (15 ) $ 8,035 Provision (credit) 11 149 191 14 (15 ) 350 Charge-offs — (15 ) (70 ) (16 ) — (101 ) Recoveries — 5 2 4 — 11 Balance at June 30, 2015 $ 3,850 $ 2,117 $ 2,334 $ 24 $ (30 ) $ 8,295 Six Months Ended Balance at December 31, 2013 $ 3,549 $ 1,707 $ 2,192 $ 13 $ (2 ) $ 7,459 Provision 349 155 30 15 1 550 Charge-offs — (15 ) (74 ) (23 ) — (112 ) Recoveries — 1 110 9 — 120 Balance at June 30, 2014 $ 3,898 $ 1,848 $ 2,258 $ 14 $ (1 ) $ 8,017 Balance at December 31, 2014 $ 3,705 $ 2,053 $ 2,174 $ 15 $ 1 $ 7,948 Provision (credit) 145 73 438 25 (31 ) 650 Charge-offs — (15 ) (282 ) (29 ) — (326 ) Recoveries — 6 4 13 — 23 Balance at June 30, 2015 $ 3,850 $ 2,117 $ 2,334 $ 24 $ (30 ) $ 8,295
Information pertaining to the allowance for loan losses by segment	Further information pertaining to the allowance for loan losses by segment at June 30, 2015 and December 31, 2014 follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) June 30, 2015 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired 3,850 2,117 2,334 24 (30 ) 8,295 Total allowance for loan losses $ 3,850 $ 2,117 $ 2,334 $ 24 $ (30 ) $ 8,295 Loans individually evaluated and deemed impaired $ 3,074 $ 284 $ 4,029 $ — $ — $ 7,387 Loans collectively or individually evaluated and not deemed impaired 284,985 296,941 166,999 1,464 — 750,389 Total loans $ 288,059 $ 297,225 $ 171,028 $ 1,464 $ — $ 757,776 December 31, 2014 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired 3,705 2,053 2,174 15 1 7,948 Total allowance for loan losses 3,705 2,053 2,174 15 1 7,948 Loans individually evaluated and deemed impaired 3,104 291 4,436 — — 7,831 Loans collectively or individually evaluated and not deemed impaired 275,301 277,450 161,292 1,542 — 715,585 Total loans $ 278,405 $ 277,741 $ 165,728 $ 1,542 $ — $ 723,416
Summary of past due and non-accrual loans by class	The following is a summary of past due and non-accrual loans by class at June 30, 2015 and December 31, 2014: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater than 90 Days Past Due Total Past Due Past Due 90 Days or More and Still Accruing Loans on Non-Accrual (In thousands) June 30, 2015 Commercial real estate $ 241 $ 541 $ 515 $ 1,297 $ — $ 2,795 Residential real estate: Residential 448 88 754 1,290 — 1,397 Home equity 209 — 1 210 — 1 Commercial and industrial 104 98 568 770 — 3,808 Consumer 15 — — 15 — 12 Total $ 1,017 $ 727 $ 1,838 $ 3,582 $ — $ 8,013 December 31, 2014 Commercial real estate $ 3,003 $ — $ 529 $ 3,532 $ — $ 3,257 Residential real estate: Residential 314 61 1,158 1,533 — 1,323 Home equity 252 — 1 253 — 1 Commercial and industrial 169 — 394 563 — 4,233 Consumer 22 — 3 25 — 16 Total $ 3,760 $ 61 $ 2,085 $ 5,906 $ — $ 8,830
Summary of impaired loans by class	The following is a summary of impaired loans by class at June 30, 2015 and December 31, 2014: Three Months Ended Six Months Ended At June 30, 2015 June 30, 2015 June 30, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired loans without a valuation allowance: Commercial real estate $ 3,074 $ 3,659 $ — $ 3,067 $ — $ 3,075 — Residential real estate 284 406 — 285 — 287 — Commercial and industrial 4,029 5,133 — 4,020 — 4,121 — Total 7,387 9,198 — 7,372 — 7,483 — Total impaired loans $ 7,387 $ 9,198 $ — $ 7,372 $ — $ 7,483 $ — Three Months Ended Six Months Ended At December 31, 2014 June 30, 2014 June 30, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired loans without a valuation allowance: Commercial real estate $ 3,104 $ 3,662 $ — $ 1,417 $ — $ 1,429 $ — Residential real estate 291 407 — 211 — 217 — Commercial and industrial 4,436 5,181 — 758 — 667 — Total 7,831 9,250 — 2,386 — 2,313 — Impaired loans with a valuation allowance: Commercial real estate — — — 13,386 143 13,428 286 Commercial and industrial — — — 958 10 961 20 Total — — — 14,344 153 14,389 306 Total impaired loans $ 7,831 $ 9,250 $ — $ 16,730 $ 153 $ 16,702 $ 306
Loans by Risk Rating	The following table presents our loans by risk rating at June 30, 2015 and December 31, 2014: Commercial Real Estate Residential 1-4 family Home Equity Commercial and Industrial Consumer Total (Dollars in thousands) June 30, 2015 Loans rated 1 – 3 $ 245,194 $ 254,738 $ 41,089 $ 140,988 $ 1,452 $ 683,461 Loans rated 4 35,082 — — 8,361 — 43,443 Loans rated 5 541 — — 12,961 — 13,502 Loans rated 6 7,242 1,397 1 8,663 12 17,315 Loans rated 7 — — — 55 — 55 $ 288,059 $ 256,135 $ 41,090 $ 171,028 $ 1,464 $ 757,776 December 31, 2014 Loans rated 1 – 3 $ 234,010 $ 236,113 $ 40,282 $ 139,109 $ 1,526 $ 651,040 Loans rated 4 33,305 — — 16,841 — 50,146 Loans rated 5 7,833 — 22 5,545 — 13,400 Loans rated 6 3,257 1,323 1 4,233 16 8,830 Loans rated 7 — — — — — — $ 278,405 $ 237,436 $ 40,305 $ 165,728 $ 1,542 $ 723,416

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of the status of stock options	Our stock award and stock option plans activity for the six months ended June 30, 2015 and 2014 is summarized below: Unvested Stock Awards Outstanding Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2014 13,000 $ 8.07 Shares granted 48,560 7.18 Outstanding at June 30, 2015 61,560 $ 7.37 Outstanding at December 31, 2013 25,720 $ 7.93 No activity — — Outstanding at June 30, 2014 25,720 $ 7.93

PENSION BENEFITS (Tables)

PENSION BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of net pension benefit costs	The following table provides information regarding net pension benefit costs for the periods shown: Three Months Ended Six Months Ended, June 30, June 30, 2015 2014 2015 2014 (In thousands) Service cost $ 305 $ 250 $ 614 $ 500 Interest cost 225 208 451 417 Expected return on assets (283 ) (240 ) (567 ) (480 ) Transition obligation — (5 ) — (10 ) Actuarial loss 31 — 62 — Net periodic pension cost $ 278 $ 213 $ 560 $ 427

DERIVATIVES AND HEDGING ACTIV28

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of derivative financial instruments designated as hedging instruments	The table below presents the fair value of our derivative financial instruments designated as hedging instruments as well as our classification on the balance sheet as of June 30, 2015 and December 31, 2014. June 30, 2015 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Interest rate swaps N/A $ — Other Liabilities $ 5,094 Total derivatives designated as hedging instruments $ — $ 5,094 December 31, 2014 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Interest rate swaps Other Assets $ 9 Other Liabilities $ 5,748 Total derivatives designated as hedging instruments $ 9 $ 5,748
Schedule of information about cash flow hedges	The following table presents information about our cash flow hedges at June 30, 2015 and December 31, 2014: June 30, 2015 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 40,000 2.8 0.29 % 1.52 % $ (435 ) Forward starting interest rate swaps on FHLBB borrowings 80,000 6.7 — 3.34 % (4,659 ) Total cash flow hedges $ 120,000 5.4 $ (5,094 ) December 31, 2014 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 40,000 3.3 0.23 % 1.52 % $ (268 ) Forward starting interest rate swaps on FHLBB borrowings 115,000 6.7 — 3.11 % (5,471 ) Total cash flow hedges $ 155,000 5.8 $ (5,739 )
Schedule of the pre-tax net gains (losses) of cash flow hedges	The table below presents the pre-tax net gains (losses) of our cash flow hedges for the periods indicated. Amount of Gain (Loss) Recognized in OCI on Derivative Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Interest rate swaps $ 1,492 $ (2,609 ) $ (1,277 ) $ (4,999 )

FAIR VALUE OF ASSETS AND LIAB29

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on recurring basis	Assets and liabilities measured at fair value on a recurring basis are summarized below: June 30, 2015 Level 1 Level 2 Level 3 Total Assets: (In thousands) Securities available for sale: Government-sponsored residential mortgage-backed securities $ — $ 176,824 $ — $ 176,824 U.S. Government guaranteed residential mortgage-backed securities — 8,389 — 8,389 Corporate bonds — 30,560 — 30,560 State and municipal bonds — 12,001 — 12,001 Government-sponsored enterprise obligations — 9,448 — 9,448 Mutual funds 6,211 — — 6,211 Common and preferred stock 1,571 — — 1,571 Total assets $ 7,782 $ 237,222 $ — $ 245,004 Liabilities: Interest rate swaps $ — $ 5,094 $ — $ 5,094 December 31, 2014 Level 1 Level 2 Level 3 Total Assets: (In thousands) Government-sponsored residential mortgage-backed securities $ — $ 139,213 $ — $ 139,213 U.S. Government guaranteed residential mortgage-backed securities — 1,586 — 1,586 Corporate bonds — 26,223 — 26,223 State and municipal bonds — 17,034 — 17,034 Government-sponsored enterprise obligations — 23,979 — 23,979 Mutual funds 6,176 — — 6,176 Common and preferred stock 1,539 — — 1,539 Total securities available for sale 7,715 208,035 — 215,750 Interest rate swaps — 9 — 9 Total assets $ 7,715 $ 208,044 $ — $ 215,759 Liabilities: Interest rate swaps $ — $ 5,748 $ — $ 5,748
Schedule of assets measured at fair value on non-recurring basis	The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at June 30, 2015 and 2014. Total losses represent the change in carrying value as a result of fair value adjustments related to assets still held at June 30, 2015 and 2014. At Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 June 30, 2015 Level 1 Level 2 Level 3 Total Losses Total Losses (In thousands) (In thousands) (In thousands) Impaired loans $ — $ — $ 158 $ 70 $ 282 At Three Months Ended Six Months Ended June 30, 2014 June 30, 2014 June 30, 2014 Level 1 Level 2 Level 3 Total Losses Total Losses (In thousands) (In thousands) (In thousands) Impaired loans $ — $ — $ 91 $ — $ 15
Summary of fair values of financial instruments	The estimated fair values of our financial instruments are as follows: June 30, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 13,694 $ 13,694 $ — $ — $ 13,694 Securities available for sale 245,004 7,782 237,222 — 245,004 Securities held to maturity 256,303 — 254,924 — 254,924 Federal Home Loan Bank of Boston and other restricted stock 15,372 — — 15,372 15,372 Loans - net 751,087 — — 756,140 756,140 Accrued interest receivable 4,200 — — 4,200 4,200 Liabilities: Deposits 897,714 — — 898,757 898,757 Short-term borrowings 111,251 — 109,497 — 109,497 Long-term debt 195,772 — 199,040 — 199,040 Accrued interest payable 472 — — 472 472 Derivative liabilities 5,094 — 5,094 — 5,094 December 31, 2014 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 18,785 $ 18,785 $ — $ — $ 18,785 Securities available for sale 215,750 7,715 208,035 — 215,750 Securities held to maturity 278,080 — 277,636 — 277,636 Federal Home Loan Bank of Boston and other restricted stock 14,934 — — 14,934 14,934 Loans - net 716,738 — — 721,818 721,818 Accrued interest receivable 4,213 — — 4,213 4,213 Derivative assets 9 — 9 — 9 Liabilities: Deposits 834,218 — — 834,838 834,838 Short-term borrowings 93,997 — 93,997 — 93,997 Long-term debt 232,479 — 236,457 — 236,457 Accrued interest payable 501 — — 501 501 Derivative liabilities 5,748 — 5,748 — 5,748

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Jun. 30, 2015Number
Massachusetts and Granby and Enfield, Connecticut [Member]
Number of banking offices in which bank operates	13

EARNINGS PER SHARE (DETAILS)

EARNINGS PER SHARE (DETAILS) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share Details
Net income applicable to common stock	$ 1,364	$ 1,342	$ 2,702	$ 2,990
Average number of common shares issued	18,541	19,409	18,632	19,669
Less: Average unallocated ESOP Shares	(1,021)	(1,100)	(1,031)	(1,110)
Average number of common shares outstanding used to calculate basic and diluted earnings per common share	17,520	18,309	17,601	18,559
Basic and diluted earnings per share (in dollars per share)	$ 0.08	$ 0.07	$ 0.15	$ 0.16

COMPREHENSIVE INCOME_LOSS (Deta

COMPREHENSIVE INCOME/LOSS (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax	$ (10,042)	$ (7,475)	$ (4,297)	$ (2,975)
Accumulated Net Unrealized Gains (Losses) on Securities AFS [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax	(2,144)	668
Tax effect	745	(226)
Accumulated other comprehensive income (loss), net of tax	(1,399)	442
Accumulated Net Unamortized Losses on Securities Transferred from AFS to HTM [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax	(1,978)	(1,787)
Tax effect	682	617
Accumulated other comprehensive income (loss), net of tax	(1,296)	(1,170)
Accumulated Fair Value of Derivatives Used for Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax	(6,710)	(5,739)
Tax effect	2,281	1,951
Accumulated other comprehensive income (loss), net of tax	(4,429)	(3,788)	(2,079)	1,158
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax	(4,422)	(4,484)
Tax effect	1,504	1,525
Accumulated other comprehensive income (loss), net of tax	$ (2,918)	$ (2,959)	$ (1,434)	$ (1,427)

COMPREHENSIVE INCOME_LOSS (De33

COMPREHENSIVE INCOME/LOSS (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			$ (7,475)	$ (2,975)
Current-period other comprehensive income (loss)	$ (1,014)	$ (597)	(2,567)	(1,322)
Ending Balance	(10,042)	(4,297)	(10,042)	(4,297)
Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(728)	(2,706)
Current-period other comprehensive income (loss)			(1,967)	1,922
Ending Balance	(2,695)	(784)	(2,695)	(784)
Accumulated Fair Value of Derivatives Used for Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(3,788)	1,158
Current-period other comprehensive income (loss)			(641)	(3,237)
Ending Balance	(4,429)	(2,079)	(4,429)	(2,079)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(2,959)	(1,427)
Current-period other comprehensive income (loss)			41	(7)
Ending Balance	$ (2,918)	$ (1,434)	$ (2,918)	$ (1,434)

SECURITIES (Details Narrative)

SECURITIES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]
Proceeds from the sale of available for sale securities			$ 77,800	$ 60,700
Provision of tax applicable to net realized gains and losses on sale of securities	$ 95	$ 7	$ 376	$ 17

SECURITIES (Details)

SECURITIES (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Available-For-Sale Securities
Amortized Cost	$ 247,148	$ 215,082
Gross Unrealized Gains	779	1,831
Gross Unrealized Losses	(2,923)	(1,163)
Fair Value	245,004	215,750
Held-to-maturity securities
Amortized Cost	256,303	278,080
Gross Unrealized Gains	1,952	2,810
Gross Unrealized Losses	(3,331)	(3,254)
Fair Value	254,924	277,636
Total
Amortized Cost	503,451	493,162
Gross Unrealized Gains	2,731	4,641
Gross Unrealized Losses	(6,254)	(4,417)
Fair Value	499,928	493,386
Government-sponsored Mortgage-backed Securities [Member]
Available-For-Sale Securities
Amortized Cost	179,222	139,637
Gross Unrealized Gains	66	423
Gross Unrealized Losses	(2,464)	(847)
Fair Value	176,824	139,213
Held-to-maturity securities
Amortized Cost	156,187	164,001
Gross Unrealized Gains	1,450	2,384
Gross Unrealized Losses	(1,576)	(1,453)
Fair Value	156,061	164,932
US Government Guaranteed Mortgage Backed Securities [Member]
Available-For-Sale Securities
Amortized Cost	$ 8,489	1,591
Gross Unrealized Gains		7
Gross Unrealized Losses	$ (100)	(12)
Fair Value	8,389	1,586
Held-to-maturity securities
Amortized Cost	35,054	38,566
Gross Unrealized Gains	39	34
Gross Unrealized Losses	(594)	(607)
Fair Value	34,499	37,993
Corporate Bonds [Member]
Available-For-Sale Securities
Amortized Cost	30,556	25,711
Gross Unrealized Gains	148	532
Gross Unrealized Losses	(144)	(20)
Fair Value	30,560	26,223
Held-to-maturity securities
Amortized Cost	24,361	24,751
Gross Unrealized Gains	151	76
Gross Unrealized Losses	(158)	(248)
Fair Value	24,354	24,579
States and Municipal Bonds [Member]
Available-For-Sale Securities
Amortized Cost	11,707	16,472
Gross Unrealized Gains	295	562
Gross Unrealized Losses	(1)
Fair Value	12,001	17,034
Held-to-maturity securities
Amortized Cost	7,252	7,285
Gross Unrealized Gains	42	59
Gross Unrealized Losses	(168)	(94)
Fair Value	7,126	7,250
Government-Sponsored Enterprise Obligations [Member]
Available-For-Sale Securities
Amortized Cost	9,498	24,066
Gross Unrealized Gains	6	69
Gross Unrealized Losses	(56)	(156)
Fair Value	9,448	23,979
Held-to-maturity securities
Amortized Cost	33,449	43,477
Gross Unrealized Gains	270	257
Gross Unrealized Losses	(835)	(852)
Fair Value	32,884	42,882
Mutual Funds [Member]
Available-For-Sale Securities
Amortized Cost	6,367	6,296
Gross Unrealized Gains	2	8
Gross Unrealized Losses	(158)	(128)
Fair Value	6,211	6,176
Common And Preferred Stock [Member]
Available-For-Sale Securities
Amortized Cost	1,309	1,309
Gross Unrealized Gains	$ 262	$ 230
Gross Unrealized Losses
Fair Value	$ 1,571	$ 1,539

SECURITIES (Details 1)

SECURITIES (Details 1) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Total	$ 247,148	$ 215,082
Held to Maturity Securities, Amortized Cost, Total	256,303	278,080
Held to Maturity Securities, Fair Value, Total	254,924	$ 277,636
Mortgage Backed Securities [Member]
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Due after one year through five years	4,994
Available for Sale Securities, Amortized Cost, Due after five years through ten years	16,434
Available for Sale Securities, Amortized Cost, Due after ten years	166,283
Available for Sale Securities, Amortized Cost, Total	187,711
Available for Sale Securities, Fair Value, Due after one year through five years	5,035
Available for Sale Securities, Fair Value, Due after five years through ten years	16,179
Available for Sale Securities, Fair Value, Due after ten years	163,999
Available for Sale Securities, Fair Value, Total	185,213
Held to Maturity Securities, Amortized Cost, Due after five years through ten years	46,073
Held to Maturity Securities, Amortized Cost, Due after ten years	145,168
Held to Maturity Securities, Amortized Cost, Total	191,241
Held to Maturity Securities, Fair Value, Due after five years through ten years	45,265
Held to Maturity Securities, Fair Value, Due after ten years	145,295
Held to Maturity Securities, Fair Value, Total	190,560
Debt Securities [Member]
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Due in one year or less	2,241
Available for Sale Securities, Amortized Cost, Due after one year through five years	31,158
Available for Sale Securities, Amortized Cost, Due after five years through ten years	18,176
Available for Sale Securities, Amortized Cost, Due after ten years	186
Available for Sale Securities, Amortized Cost, Total	51,761
Available for Sale Securities, Fair Value, Due in one year or less	2,259
Available for Sale Securities, Fair Value, Due after one year through five years	31,354
Available for Sale Securities, Fair Value, Due after five years through ten years	18,195
Available for Sale Securities, Fair Value, Due after ten years	201
Available for Sale Securities, Fair Value, Total	52,009
Held to Maturity Securities, Amortized Cost, Due in one year or less	378
Held to Maturity Securities, Amortized Cost, Due after one year through five years	19,659
Held to Maturity Securities, Amortized Cost, Due after five years through ten years	40,816
Held to Maturity Securities, Amortized Cost, Due after ten years	4,209
Held to Maturity Securities, Amortized Cost, Total	65,062
Held to Maturity Securities, Fair Value, Due in one year or less	377
Held to Maturity Securities, Fair Value, Due after one year through five years	19,503
Held to Maturity Securities, Fair Value, Due after five years through ten years	40,429
Held to Maturity Securities, Fair Value, Due after ten years	4,055
Held to Maturity Securities, Fair Value, Total	$ 64,364

SECURITIES (Details 2)

SECURITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]
Gross gains realized	$ 276	$ 338	$ 1,163	$ 531
Gross losses realized		(317)	(70)	(481)
Net gain realized	$ 276	$ 21	$ 1,093	$ 50

SECURITIES (Details 3)

SECURITIES (Details 3) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)Number	Dec. 31, 2014USD ($)Number
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 2,523	$ 116
Available for sale, Less Than 12 Months Fair Value	191,829	34,264
Available for sale, Over 12 Months Gross Unrealized Losses	400	1,047
Available for sale, Over 12 Months Fair Value	17,668	71,503
Held to maturity, Less Than 12 Months Gross Unrealized Losses	1,930	328
Held to maturity, Less Than 12 Months Fair Value	78,872	15,976
Held to maturity, Over 12 Months Gross Unrealized Losses	1,401	2,926
Held to maturity, Over 12 Months Fair Value	59,332	149,472
Total Securities, Less Than 12 Months Gross Unrealized Losses	4,453	444
Total Securities, Less Than 12 Months Fair Value	270,701	50,240
Total Securities, Over 12 Months Gross Unrealized Losses	1,801	3,973
Total Securities, Over 12 Months Fair Value	77,000	220,975
Amortized Cost Basis - less than 12 months	275,155
Gross Loss - less than 12 months	(4,453)
Amortized Cost Basis - Over 12 Months		78,801
Gross Loss - Over 12 Months		(1,801)
Government-sponsored Mortgage-backed Securities [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	2,249	47
Available for sale, Less Than 12 Months Fair Value	154,561	20,637
Available for sale, Over 12 Months Gross Unrealized Losses	215	800
Available for sale, Over 12 Months Fair Value	10,309	56,830
Held to maturity, Less Than 12 Months Gross Unrealized Losses	1,334	200
Held to maturity, Less Than 12 Months Fair Value	61,710	10,292
Held to maturity, Over 12 Months Gross Unrealized Losses	242	1,253
Held to maturity, Over 12 Months Fair Value	$ 10,258	$ 65,526
Number of Securities - less than 12 months | Number	58
Amortized Cost Basis - less than 12 months	$ 219,855
Gross Loss - less than 12 months	$ (3,583)
Depreciation from AC Basis (%) - less than 12 months	1.60%
Number of Securities - Over 12 Months | Number		8
Amortized Cost Basis - Over 12 Months		$ 21,024
Gross Loss - Over 12 Months		$ (457)
Depreciation from AC Basis (%)- Over 12 Months		2.20%
US Government Guaranteed Mortgage Backed Securities [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 83
Available for sale, Less Than 12 Months Fair Value	7,761
Available for sale, Over 12 Months Gross Unrealized Losses	17	$ 12
Available for sale, Over 12 Months Fair Value	628	677
Held to maturity, Less Than 12 Months Gross Unrealized Losses	511
Held to maturity, Less Than 12 Months Fair Value	7,158
Held to maturity, Over 12 Months Gross Unrealized Losses	83	607
Held to maturity, Over 12 Months Fair Value	$ 11,168	$ 31,951
Number of Securities - less than 12 months | Number	3
Amortized Cost Basis - less than 12 months	$ 15,513
Gross Loss - less than 12 months	$ 594
Depreciation from AC Basis (%) - less than 12 months	3.80%
Number of Securities - Over 12 Months | Number		3
Amortized Cost Basis - Over 12 Months		$ 11,896
Gross Loss - Over 12 Months		$ 100
Depreciation from AC Basis (%)- Over 12 Months		0.80%
Corporate Bonds [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 137	$ 17
Available for sale, Less Than 12 Months Fair Value	21,708	4,438
Available for sale, Over 12 Months Gross Unrealized Losses	7	3
Available for sale, Over 12 Months Fair Value	1,493	1,497
Held to maturity, Less Than 12 Months Gross Unrealized Losses	67	128
Held to maturity, Less Than 12 Months Fair Value	8,484	5,684
Held to maturity, Over 12 Months Gross Unrealized Losses	91	120
Held to maturity, Over 12 Months Fair Value	$ 10,838	$ 13,918
Number of Securities - less than 12 months | Number	13
Amortized Cost Basis - less than 12 months	$ 30,396
Gross Loss - less than 12 months	$ 204
Depreciation from AC Basis (%) - less than 12 months	0.70%
Number of Securities - Over 12 Months | Number		4
Amortized Cost Basis - Over 12 Months		$ 12,429
Gross Loss - Over 12 Months		$ 98
Depreciation from AC Basis (%)- Over 12 Months		0.80%
States and Municipal Bonds [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 1
Available for sale, Less Than 12 Months Fair Value	456
Held to maturity, Less Than 12 Months Gross Unrealized Losses	18
Held to maturity, Less Than 12 Months Fair Value	1,520
Held to maturity, Over 12 Months Gross Unrealized Losses	150	$ 94
Held to maturity, Over 12 Months Fair Value	$ 3,895	$ 4,853
Number of Securities - less than 12 months | Number	4
Amortized Cost Basis - less than 12 months	$ 1,995
Gross Loss - less than 12 months	$ 19
Depreciation from AC Basis (%) - less than 12 months	1.00%
Number of Securities - Over 12 Months | Number		8
Amortized Cost Basis - Over 12 Months		$ 4,045
Gross Loss - Over 12 Months		$ 150
Depreciation from AC Basis (%)- Over 12 Months		3.70%
Government-Sponsored Enterprise Obligations [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 36	$ 52
Available for sale, Less Than 12 Months Fair Value	3,964	9,189
Available for sale, Over 12 Months Gross Unrealized Losses	20	104
Available for sale, Over 12 Months Fair Value	3,480	7,396
Held to maturity, Over 12 Months Gross Unrealized Losses	835	852
Held to maturity, Over 12 Months Fair Value	$ 23,173	$ 33,224
Number of Securities - less than 12 months | Number	2
Amortized Cost Basis - less than 12 months	$ 4,000
Gross Loss - less than 12 months	$ 36
Depreciation from AC Basis (%) - less than 12 months	0.90%
Number of Securities - Over 12 Months | Number		6
Amortized Cost Basis - Over 12 Months		$ 27,508
Gross Loss - Over 12 Months		$ 855
Depreciation from AC Basis (%)- Over 12 Months		3.10%
Mutual Funds [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 17
Available for sale, Less Than 12 Months Fair Value	3,379
Available for sale, Over 12 Months Gross Unrealized Losses	141	$ 128
Available for sale, Over 12 Months Fair Value	$ 1,758	$ 5,103
Number of Securities - less than 12 months | Number	1
Amortized Cost Basis - less than 12 months	$ 3,396
Gross Loss - less than 12 months	$ 17
Depreciation from AC Basis (%) - less than 12 months	0.50%
Number of Securities - Over 12 Months | Number		1
Amortized Cost Basis - Over 12 Months		$ 1,899
Gross Loss - Over 12 Months		$ 141
Depreciation from AC Basis (%)- Over 12 Months		7.40%

LOANS AND ALLOWANCE FOR LOAN 39

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Purchase of residential mortgages		$ 32,007	$ 21,561
TDR charge off loans	$ 0	70
Serviced loans for participants	19,400	19,400		$ 20,500
Loans	757,776	757,776		723,416
Residential Real Estate[Member]
Purchase of residential mortgages		21,600	$ 32,000
Loans	297,225	297,225		277,741
Construction Loans [Member]
Loans	$ 4,200	$ 4,200		$ 16,800

LOANS AND ALLOWANCE FOR LOAN 40

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 1) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 757,776		$ 723,416
Unearned premiums and deferred loan fees and costs, net	1,606		1,270
Allowance for loan losses	(8,295)	$ (8,035)	(7,948)	$ (8,017)	$ (7,567)	$ (7,459)
Loans, net	751,087		716,738
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	288,059		278,405
Allowance for loan losses	(3,850)	(3,839)	(3,705)	(3,898)	(3,689)	(3,549)
Residential Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	256,135		237,436
Residential Real Estate- Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	41,090		40,305
Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	171,028		165,728
Allowance for loan losses	(2,334)	(2,211)	(2,174)	(2,258)	(2,049)	(2,192)
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,464		1,542
Allowance for loan losses	$ (24)	$ (22)	$ (15)	$ (14)	$ (13)	$ (13)

LOANS AND ALLOWANCE FOR LOAN 41

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Beginning Balance	$ 8,035	$ 7,567	$ 7,948	$ 7,459
Provision (credit)	350	450	650	550
Charge-offs	(101)	(13)	(326)	(112)
Recoveries	11	13	23	120
Ending Balance	8,295	8,017	8,295	8,017
Commercial Real Estate [Member]
Beginning Balance	3,839	3,689	3,705	3,549
Provision (credit)	11	209	145	349
Ending Balance	3,850	3,898	3,850	3,898
Residential Real Estate[Member]
Beginning Balance	1,978	1,812	2,053	1,707
Provision (credit)	149	36	73	155
Charge-offs	(15)		(15)	(15)
Recoveries	5		6	1
Ending Balance	2,117	1,848	2,117	1,848
Commercial and Industrial [Member]
Beginning Balance	2,211	2,049	2,174	2,192
Provision (credit)	191	202	438	30
Charge-offs	(70)		(282)	(74)
Recoveries	2	7	4	110
Ending Balance	2,334	2,258	2,334	2,258
Consumer [Member]
Beginning Balance	22	13	15	13
Provision (credit)	14	8	25	15
Charge-offs	(16)	(13)	(29)	(23)
Recoveries	4	6	13	9
Ending Balance	24	14	24	14
Unallocated [Member]
Beginning Balance	(15)	4	1	(2)
Provision (credit)	(15)	(5)	(31)	1
Ending Balance	$ (30)	$ (1)	$ (30)	$ (1)

LOANS AND ALLOWANCE FOR LOAN 42

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	$ 8,295		$ 7,948
Total allowance for loan losses	8,295	$ 8,035	7,948	$ 8,017	$ 7,567	$ 7,459
Loans individually evaluated and deemed impaired	7,387		7,831
Loan collectively or individually evaluated and not deemed impaired	750,389		715,585
Total loans	757,776		723,416
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	3,850		3,705
Total allowance for loan losses	3,850	3,839	3,705	3,898	3,689	3,549
Loans individually evaluated and deemed impaired	3,074		3,104
Loan collectively or individually evaluated and not deemed impaired	284,985		275,301
Total loans	288,059		278,405
Residential Real Estate[Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	2,117		2,053
Total allowance for loan losses	2,117	1,978	2,053	1,848	1,812	1,707
Loans individually evaluated and deemed impaired	284		291
Loan collectively or individually evaluated and not deemed impaired	296,941		277,450
Total loans	297,225		277,741
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	2,334		2,174
Total allowance for loan losses	2,334	2,211	2,174	2,258	2,049	2,192
Loans individually evaluated and deemed impaired	4,029		4,436
Loan collectively or individually evaluated and not deemed impaired	166,999		161,292
Total loans	171,028		165,728
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	24		15
Total allowance for loan losses	24	22	15	14	13	13
Loan collectively or individually evaluated and not deemed impaired	1,464		1,542
Total loans	1,464		1,542
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	(30)		1
Total allowance for loan losses	$ (30)	$ (15)	$ 1	$ (1)	$ 4	$ (2)

LOANS AND ALLOWANCE FOR LOAN 43

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 3,582	$ 5,906
Loans on Non-Accrual	8,013	8,830
30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,017	3,760
60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	727	61
Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,838	2,085
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,297	3,532
Loans on Non-Accrual	2,795	3,257
Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	241	3,003
Commercial Real Estate [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	541
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	515	529
Residential Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,290	1,533
Loans on Non-Accrual	1,397	1,323
Residential Mortgage [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	448	314
Residential Mortgage [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	88	61
Residential Mortgage [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	754	1,158
Residential Real Estate- Home Equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	210	253
Loans on Non-Accrual	1	1
Residential Real Estate- Home Equity [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	209	252
Residential Real Estate- Home Equity [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1	1
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	770	563
Loans on Non-Accrual	3,808	4,233
Commercial and Industrial [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	104	169
Commercial and Industrial [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	98
Commercial and Industrial [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	568	394
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	15	25
Loans on Non-Accrual	12	16
Consumer [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 15	22
Consumer [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 3

LOANS AND ALLOWANCE FOR LOAN 44

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Impaired loans without a valuation allowance:
Recorded Investment	$ 7,387		$ 7,387		$ 7,831
Unpaid Principal Balance	9,198		9,198		9,250
Average Recorded Investment	7,372	$ 2,386	7,483	$ 2,313
Impaired loans with valuation allowance:
Average Recorded Investment		14,344		14,389
Interest Income Recognized		153		306
Total Impaired loans:
Recorded Investment	7,387		7,387		7,831
Unpaid Principal Balance	9,198		9,198		9,250
Average Recorded Investment	7,372	16,730	7,483	16,702
Interest Income Recognized		153		306
Commercial Real Estate [Member]
Impaired loans without a valuation allowance:
Recorded Investment	3,074		3,074		3,104
Unpaid Principal Balance	3,659		3,659		3,662
Average Recorded Investment	3,067	1,417	3,075	1,429
Impaired loans with valuation allowance:
Average Recorded Investment		13,386		13,428
Interest Income Recognized		143		286
Residential Real Estate[Member]
Impaired loans without a valuation allowance:
Recorded Investment	284		284		291
Unpaid Principal Balance	406		406		407
Average Recorded Investment	285	211	287	217
Commercial and Industrial [Member]
Impaired loans without a valuation allowance:
Recorded Investment	4,029		4,029		4,436
Unpaid Principal Balance	5,133		5,133		$ 5,181
Average Recorded Investment	$ 4,020	758	$ 4,121	667
Impaired loans with valuation allowance:
Average Recorded Investment		958		961
Interest Income Recognized		$ 10		$ 20

LOANS AND ALLOWANCE FOR LOAN 45

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 6) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 757,776	$ 723,416
Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	683,461	651,040
Loans rated 4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	43,443	50,146
Loans rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	13,502	13,400
Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	17,315	8,830
Loans rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	55
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	288,059	278,405
Commercial Real Estate [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	245,194	234,010
Commercial Real Estate [Member] | Loans rated 4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	35,082	33,305
Commercial Real Estate [Member] | Loans rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	541	7,833
Commercial Real Estate [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	7,242	3,257
Residential Mortgage [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	256,135	237,436
Residential Mortgage [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	254,738	236,113
Residential Mortgage [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,397	1,323
Residential Real Estate- Home Equity [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	41,090	40,305
Residential Real Estate- Home Equity [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	41,089	40,282
Residential Real Estate- Home Equity [Member] | Loans rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans		22
Residential Real Estate- Home Equity [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1	1
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	171,028	165,728
Commercial and Industrial [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	140,988	139,109
Commercial and Industrial [Member] | Loans rated 4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,361	16,841
Commercial and Industrial [Member] | Loans rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	12,961	5,545
Commercial and Industrial [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,663	4,233
Commercial and Industrial [Member] | Loans rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	55
Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,464	1,542
Consumer [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,452	1,526
Consumer [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 12	$ 16

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Detail Narrative) - shares	Jun. 30, 2015	May. 31, 2014
Directors Officers And Employees Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation reserved for issuance		516,000
Share based compensation, shares available for grant	48,560
2002 Directors Officers And Employees Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation reserved for issuance	652,664
2007 Directors Officers And Employees Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation reserved for issuance	624,041

SHARE-BASED COMPENSATION (Det47

SHARE-BASED COMPENSATION (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Unvested Stock Awards Outstanding, Shares
Beginning Balance	13,000	25,720
Shares Granted	48,560
Ending Balance	61,560	25,720
Unvested Stock Awards Outstanding, Weighted Average Grant Date Fair Value
Beginning Balance	$ 8.07	$ 7.93
Shares Granted	7.18
Ending Balance	$ 7.37	$ 7.93

SHORT-TERM BORROWINGS AND LON48

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Detail Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Short-term borrowings	$ 111,251	$ 93,997
Outstanding advance under line of credit		1,800
Long term Debt	195,772	232,479
Customer Repurchase Agreements Long Term [Member] | Government-sponsored Mortgage-backed Securities [Member]
Debt Instrument [Line Items]
Collateralize amount	11,700	21,600
Customer Repurchase Agreements Long Term [Member] | US Government Guaranteed Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Collateralize amount	58,500	44,400
Federal Home Loan Bank Of Boston Ideal Way [Member]
Debt Instrument [Line Items]
Short-term borrowings	75,000	62,800
Long term Debt	189,900	216,700
Securities sold under repurchase agreements		10,000
Borrowings prepayment expense	278
Borrowings prepaid	$ 10,000
Borrowings, weighted average rate	2.77%
Bankers Bank Northeast [Member]
Debt Instrument [Line Items]
Total amount available to borrow	$ 4,000
Required cash reserve	300
PNC [Member]
Debt Instrument [Line Items]
Outstanding advance under line of credit	5,000
Total amount available to borrow	45,000
Maximum short term borrowing outstanding	5,000
Customer Repurchase Agreements Long Term [Member]
Debt Instrument [Line Items]
Short-term borrowings	31,300	31,200
Long term Debt	5,800	$ 5,800
Repurchase Agreements [Member]
Debt Instrument [Line Items]
Borrowings prepayment expense	593
Borrowings prepaid	$ 10,000
Borrowings, weighted average rate	2.65%

PENSION PLANS (Details)

PENSION PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Service cost	$ 305	$ 250	$ 614	$ 500
Interest cost	225	208	451	417
Expected return on assets	$ (283)	(240)	$ (567)	(480)
Transition obligation		$ (5)		$ (10)
Actuarial loss	$ 31		$ 62
Net periodic pension cost	$ 278	$ 213	$ 560	$ 427

DERIVATIVES AND HEDGING ACTIV50

DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 120,000		$ 120,000		$ 155,000
Termination value of derivatives in a net liability position	5,100		5,100
Reclassifications amount, effective portion	175	$ 48	306	$ 94
Interest Rate Swap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Termination value of derivatives in a net liability position	35,000		35,000
Termination fees			$ 1,600
Termination fees amortized period			5 years
Interest Rate Swap [Member] | Two Thousand Fifteen [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	12,500		$ 12,500
Interest Rate Swap [Member] | Two Thousand Sixteen [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 67,500		$ 67,500

DERIVATIVES AND HEDGING ACTIV51

DERIVATIVES AND HEDGING ACTIVITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	$ (5,094)	$ (5,739)
Other Assets [Member] | Derivatives Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets		9
Other Assets [Member] | Interest Rate Swap [Member] | Derivatives Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets		9
Other Liabilities [Member] | Derivatives Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liability	$ 5,094	5,748
Other Liabilities [Member] | Interest Rate Swap [Member] | Derivatives Designated As Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liability	$ 5,094	$ 5,748

DERIVATIVES AND HEDGING ACTIV52

DERIVATIVES AND HEDGING ACTIVITIES (Details 1) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Notional Amount	$ 120,000	$ 155,000
Weighted Average Maturity	5 years 4 months 24 days	5 years 8 months 21 days
Estimated Fair Value	$ (5,094)	$ (5,739)
Interest Rate Swap Agreement [Member]
Derivative [Line Items]
Notional Amount	$ 40,000	$ 40,000
Weighted Average Maturity	2 years 9 months 18 days	3 years 3 months 14 days
Weighted Average Rate Received	0.29%	0.23%
Weighted Average Rate Paid	1.52%	1.52%
Estimated Fair Value	$ (435)	$ (268)
Forward Starting Interest Rate Swap Agreement [Member]
Derivative [Line Items]
Notional Amount	$ 80,000	$ 115,000
Weighted Average Maturity	6 years 8 months 12 days	6 years 7 months 14 days
Weighted Average Rate Received
Weighted Average Rate Paid	3.34%	3.11%
Estimated Fair Value	$ (4,659)	$ (5,471)

DERIVATIVES AND HEDGING ACTIV53

DERIVATIVES AND HEDGING ACTIVITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest Rate Swap [Member] | Derivatives Designated As Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in OCI	$ 1,492	$ (2,609)	$ (1,277)	$ (4,999)

FAIR VALUE OF ASSETS AND LIABLI

FAIR VALUE OF ASSETS AND LIABLITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 245,004	$ 215,750
Derivative asset		9
Derivative liabilities, net	5,094	5,748
Fair Value - Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	7,782	7,715
Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	237,222	208,035
Derivative asset		9
Derivative liabilities, net	5,094	5,748
Government-sponsored Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	176,824	139,213
US Government Guaranteed Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	8,389	1,586
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	30,560	26,223
States and Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	12,001	17,034
Government-Sponsored Enterprise Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	9,448	23,979
Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,211	6,176
Common And Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,571	1,539
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		215,750
Derivative asset		9
Total assets	245,004	215,759
Derivative liabilities, net	(5,094)	5,748
Recurring [Member] | Fair Value - Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		7,715
Total assets	7,782
Recurring [Member] | Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		208,035
Derivative asset		9
Total assets	237,222	208,044
Derivative liabilities, net	(5,094)	5,748
Recurring [Member] | Government-sponsored Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	176,824	139,213
Recurring [Member] | Government-sponsored Mortgage-backed Securities [Member] | Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	176,824	139,213
Recurring [Member] | US Government Guaranteed Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	8,389	1,586
Recurring [Member] | US Government Guaranteed Mortgage Backed Securities [Member] | Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	8,389	1,586
Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	30,560	26,223
Recurring [Member] | Corporate Bonds [Member] | Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	30,560	26,223
Recurring [Member] | States and Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	12,001	17,034
Recurring [Member] | States and Municipal Bonds [Member] | Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	12,001	17,034
Recurring [Member] | Government-Sponsored Enterprise Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	9,448	23,979
Recurring [Member] | Government-Sponsored Enterprise Obligations [Member] | Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	9,448	23,979
Recurring [Member] | Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,211	6,176
Recurring [Member] | Mutual Funds [Member] | Fair Value - Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,211	6,176
Recurring [Member] | Common And Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,571	1,539
Recurring [Member] | Common And Preferred Stock [Member] | Fair Value - Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 1,571	$ 1,539

FAIR VALUE OF ASSETS AND LIAB55

FAIR VALUE OF ASSETS AND LIABLITIES (Details 1) - Nonrecurring [Member] - Impaired Loans [Member] - Fair Value Inputs Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 158	$ 158	$ 91
Gains (Losses) arising from fair value adjustment of assets	$ 70	$ 282	$ 15

FAIR VALUE OF ASSETS AND LIAB56

FAIR VALUE OF ASSETS AND LIABLITIES (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Cash and cash equivalents	$ 13,694	$ 18,785
Securities available for sale	245,004	215,750
Securities held to maturity	254,924	277,636
Federal Home Loan Bank of Boston and other restricted stock	15,372	14,934
Loans - net	756,140	721,818
Accrued interest receivable	4,200	4,213
Derivative assets		9
Liabilities:
Deposits	898,757	834,838
Short-term borrowings	109,497	93,997
Long-term debt	199,040	236,457
Accrued interest payable	472	501
Derivative liabilities, net	5,094	5,748
Fair Value - Level 1 [Member]
Assets:
Cash and cash equivalents	13,694	18,785
Securities available for sale	7,782	7,715
Fair Value Inputs Level 2 [Member]
Assets:
Securities available for sale	237,222	208,035
Securities held to maturity	254,924	277,636
Derivative assets		9
Liabilities:
Short-term borrowings	109,497	93,997
Long-term debt	199,040	236,457
Derivative liabilities, net	5,094	5,748
Fair Value Inputs Level 3 [Member]
Assets:
Federal Home Loan Bank of Boston and other restricted stock	15,372	14,934
Loans - net	756,140	721,818
Accrued interest receivable	4,200	4,213
Liabilities:
Deposits	898,757	834,838
Accrued interest payable	472	501
Carrying Value [Member]
Assets:
Cash and cash equivalents	13,694	18,785
Securities available for sale	245,004	215,750
Securities held to maturity	256,303	278,080
Federal Home Loan Bank of Boston and other restricted stock	15,372	14,934
Loans - net	751,087	716,738
Accrued interest receivable	4,200	4,213
Derivative assets		9
Liabilities:
Deposits	897,714	834,218
Short-term borrowings	111,251	93,997
Long-term debt	195,772	232,479
Accrued interest payable	472	501
Derivative liabilities, net	$ 5,094	$ 5,748