Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 01, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | Ocean Shore Holding Co. | |
Entity Central Index Key | 1,444,397 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | OSHC | |
Entity Common Stock, Shares Outstanding | 6,411,678 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 |
UNAUDITED CONDENSED CONSOLIDATE
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and amounts due from depository institutions | $ 7,811 | $ 7,496 |
Interest-earning bank balances | 85,743 | 80,214 |
Cash and cash equivalents | 93,554 | 87,710 |
Investment securities held to maturity (estimated fair value$919 at March 31, 2016; $1,137 at December 31, 2015) | 864 | 1,084 |
Investment securities available for sale (amortized cost $108,102 at March 31, 2016; $113,944 at December 31, 2015) | 106,761 | 111,908 |
Loansnet of allowance for loan losses of $3,220 at March 31, 2016 and $3,190 at December 31, 2015 | 792,784 | 783,948 |
Accrued interest receivable: | ||
Loans | 2,451 | 2,330 |
Investment securities | 15 | 21 |
Federal Home Loan Bank stock - at cost | 5,864 | 5,864 |
Office properties and equipment - net | 12,179 | 12,359 |
Prepaid expenses and other assets | 1,472 | 2,242 |
Real estate owned | 2,258 | 1,814 |
Cash surrender value of life insurance | 24,611 | 24,457 |
Net deferred tax asset | 4,290 | 4,572 |
Goodwill | 4,630 | 4,630 |
Other intangible assets | 416 | 440 |
TOTAL ASSETS | 1,052,149 | 1,043,379 |
LIABILITIES: | ||
Non-interest bearing deposits | 192,671 | 190,614 |
Interest bearing deposits | 625,634 | 621,419 |
Advances from Federal Home Loan Bank | 105,000 | 105,000 |
Advances from borrowers for taxes and insurance | 4,875 | 4,591 |
Accrued interest payable | 584 | 589 |
Other liabilities | 9,541 | 9,377 |
Total liabilities | $ 938,305 | $ 931,590 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY: | ||
Preferred stock, $.01 par value, 5,000,000 shares authorized, no shares issued | $ 0 | $ 0 |
Common stock, $.01 par value, 25,000,000 shares authorized, 7,307,590 shares issued; shares outstanding: 6,411,678 at March 31, 2016; 6,403,058 at December 31, 2015 | 73 | 73 |
Additional paid-in capital | 66,515 | 66,397 |
Retained earnings - partially restricted | 63,851 | 62,480 |
Treasury stockat cost: 895,912 at March 31, 2016; 904,532 at December 31, 2015 | (12,573) | (12,694) |
Common stock acquired by employee benefits plans | (2,212) | (2,297) |
Deferred compensation plans trust | (839) | (783) |
Accumulated other comprehensive loss | (971) | (1,387) |
Total stockholders' equity | 113,844 | 111,789 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,052,149 | $ 1,043,379 |
UNAUDITED CONDENSED CONSOLIDAT3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Investment securities held to maturity, estimated fair value (in dollars) | $ 919 | $ 1,137 |
Investment securities available for sale, amortized cost (in dollars) | 108,102 | 113,944 |
Allowance for loan losses (in dollars) | $ 3,220 | $ 3,190 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 7,307,590 | 7,307,590 |
Common stock, shares outstanding | 6,411,678 | 6,403,058 |
Treasury stock, shares | 895,912 | 904,532 |
UNAUDITED CONDENSED CONSOLIDAT4
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
INTEREST AND DIVIDEND INCOME: | ||
Taxable interest and fees on loans | $ 8,172 | $ 8,172 |
Taxable interest on mortgage-backed securities | 400 | 358 |
Non-taxable interest on municipal securities | 1 | 1 |
Taxable interest and dividends on investments securities | 270 | 256 |
Total interest and dividend income | 8,843 | 8,787 |
INTEREST EXPENSE: | ||
Deposits | 667 | 613 |
Borrowings | 897 | 1,082 |
Total interest expense | 1,564 | 1,695 |
NET INTEREST INCOME | 7,279 | 7,092 |
PROVISION FOR LOAN LOSSES | 152 | 153 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 7,127 | 6,939 |
OTHER INCOME: | ||
Service charges | 444 | 507 |
Cash surrender value of life insurance | 154 | 154 |
Other | 400 | 388 |
Total other income | 998 | 1,049 |
OTHER EXPENSE: | ||
Salaries and employee benefits | 3,310 | 3,299 |
Occupancy and equipment | 1,205 | 1,249 |
Federal insurance premiums | 145 | 138 |
Advertising | 90 | 106 |
Professional services | 302 | 278 |
Real estate owned activity | 7 | (66) |
Charitable contributions | 44 | 38 |
Other operating expenses | 388 | 400 |
Total other expenses | 5,491 | 5,442 |
INCOME BEFORE INCOME TAXES | 2,634 | 2,546 |
INCOME TAXES: | ||
INCOME TAX EXPENSE | 878 | 833 |
NET INCOME | 1,756 | 1,713 |
OTHER COMPREHENSIVE INCOME, NET OF TAX: | ||
Unrealized gain (loss) on available for sale securities | 414 | 387 |
Unrealized gain (loss) on post retirement life benefit | 3 | 5 |
TOTAL COMPREHENSIVE INCOME | $ 2,173 | $ 2,105 |
Earnings per share, basic: (in dollars per share) | $ 0.29 | $ 0.29 |
Earnings per share, diluted: (in dollars per share) | $ 0.28 | $ 0.28 |
UNAUDITED CONDENSED CONSOLIDAT5
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
OPERATING ACTIVITIES: | ||
Net income | $ 1,756 | $ 1,713 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 191 | 266 |
Provision for loan losses | 152 | 153 |
Stock based compensation expense | 227 | 250 |
Cash surrender value of life insurance | (154) | (154) |
Loss on disposal of office properties and equipment | 0 | 1 |
Changes in assets and liabilities which provided (used) cash: | ||
Accrued interest receivable | (115) | (169) |
Prepaid expenses and other assets | 770 | 734 |
Accrued interest payable | (5) | (172) |
Other liabilities | 166 | (817) |
Net cash provided by operating activities | 2,988 | 1,805 |
Principal collected on: | ||
Mortgage-backed securities available for sale | 3,762 | 2,015 |
Investment securities held to maturity | 18 | 26 |
Loans originated, net of repayments | (9,674) | 3,227 |
Purchases of: | ||
Investment securities held to maturity | (375) | (402) |
Investment securities available for sale | (9,977) | (5,034) |
Office properties and equipment | (32) | (96) |
Proceeds from sale of: | ||
Real estate owned | 344 | 428 |
Proceeds from maturities and calls of: | ||
Investment securities held to maturity | 577 | 494 |
Investment securities available for sale | $ 12,000 | $ 0 |
Cash used for acquisition, net of cash acquired | ||
Net cash (used in) investing activities | $ (3,357) | $ 658 |
FINANCING ACTIVITIES: | ||
Increase in deposits | 6,272 | 5,814 |
Dividends paid | (384) | (385) |
Purchase of shares by deferred compensation plans trust | (56) | (55) |
Purchase of treasury stock | 0 | (2,456) |
Stock options exercised | 97 | 372 |
Increase in advances from borrowers for taxes and insurance | 284 | 404 |
Net cash provided by financing activities | 6,213 | 3,694 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | 5,844 | 6,157 |
CASH AND CASH EQUIVALENTSBeginning of period | 87,710 | 80,307 |
CASH AND CASH EQUIVALENTSEnd of period | 93,554 | 86,464 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATIONCash paid during the period for: | ||
Interest | 1,545 | 1,843 |
Income Taxes | 100 | 2,080 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH ITEMS | ||
Transfers of loans to real estate owned | $ 788 | $ 387 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | "Revenue from Contracts with Customers," In August 2014, the FASB also issued ASU 2014-15, “ Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” In March 2016, the FASB issued ASU 2016-09, “ Compensation - Stock Compensation (Topic 718)” |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 2. INVESTMENT SECURITIES March 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gain Loss Value (Dollars in thousands) Held to Maturity Debt Securities Municipal $ 375 $ $ $ 375 U.S. Treasury and government sponsored entity mortgage-backed securities 489 55 544 Totals $ 864 $ 55 $ $ 919 Available for Sale Debt securities: Corporate $ 7,670 $ 17 $ (1,041) $ 6,646 U.S. Treasury and federal agencies 33 33 Equity securities 3 38 41 U.S. treasury and government sponsored entity mortgage-backed securities 100,396 363 (718) 100,041 Totals $ 108,102 $ 418 $ (1,759) $ 106,761 December 31, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gain Loss Value (Dollars in thousands) Held to Maturity Debt Securities - Municipal $ 577 $ $ $ 577 U.S. Treasury and government sponsored entity mortgage-backed securities 507 53 560 Totals $ 1,084 $ 53 $ $ 1,137 Available for Sale Debt securities: Corporate $ 9,660 $ 26 $ (842) $ 8,844 U.S. Treasury and federal agencies 10,033 7 10,040 Equity securities 3 39 42 U.S. Treasury and government sponsored entity mortgage-backed securities 94,248 223 (1,489) 92,982 Totals $ 113,944 $ 295 $ (2,331) $ 111,908 As of March 31, 2016 and December 31, 2015, the Company had investment securities available for sale with an estimated fair value of $ 104.0 97.9 March 31, 2016 Less Than 12 Months 12 Months or Longer Total Gross Gross Gross Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss (Dollars in thousands) Debt securities - Corporate $ $ $ 2,645 $ (1,041) $ 2,645 $ (1,041) U.S. treasury and government sponsored entity mortgage-backed securities 14,943 (22) 49,433 (696) 64,376 (718) Totals $ 14,943 $ (22) $ 52,078 $ (1,737) $ 67,021 $ (1,759) December 31, 2015 Less Than 12 Months 12 Months or Longer Total Gross Gross Gross Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss (Dollars in thousands) Debt securities - Corporate $ $ $ 2,843 $ (842) $ 2,843 $ (842) U.S. Treasury and government sponsored entity mortgage-backed securities 20,704 (217) 51,821 (1,272) 72,525 (1,489) Totals $ 20,704 $ (217) $ 54,664 $ (2,114) $ 75,368 $ (2,331) Management has reviewed its investment securities as of March 31, 2016 and has determined that all declines in fair value below amortized cost are temporary. Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. The OTTI assessment is a subjective process requiring the use of judgments and assumptions. During the securities-level assessments, consideration is given to (1) the intent not to sell and probability that the Company will not be required to sell the security before recovery of its cost basis to allow for any anticipated recovery in fair value, (2) the financial condition and near-term prospects of the issuer, as well as company news and current events, and (3) the ability to collect the future expected cash flows. Key assumptions utilized to forecast expected cash flows may include loss severity, expected cumulative loss percentage, cumulative loss percentage to date, weighted average FICO and weighted average loan-to-value (“LTV”), rating or scoring, credit ratings and market spreads, as applicable. The Company assesses and recognizes OTTI in accordance with applicable accounting standards. Under these standards, if the Company determines that a security in the unrealized loss position is designated to be sold or it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost basis, the impairment of such security is concluded to be other than temporary and the entire amount of the unrealized loss will be recorded in earnings. If the Company has not made a decision to sell the security and it does not expect that it will be required to sell the security prior to the recovery of the amortized cost basis but the Company concludes that the entire amortized cost basis of the security will not be recovered, while the OTTI is concluded to exists, the Company only recognizes currently in earnings the amount of decline in value attributable to credit deterioration, with the remaining component of OTTI presented in other comprehensive income. Corporate Debt Securities - The Company’s investments in the preceding table in corporate debt securities consist of corporate debt securities issued by large financial institutions and single issuer and pooled trust preferred/collateralized debt obligations backed by bank trust preferred capital securities. At March 31, 2016, two single issuer trust preferred securities have been in a continuous unrealized loss position for 12 months or longer. Those securities have aggregate depreciation of 28.3 United States Treasury, US Federal Agencies and Government Sponsored Enterprise Mortgage-backed Securities - The Company’s investments in the preceding table in United States government sponsored enterprise notes consist of debt obligations of the Federal Home Loan Bank (“FHLB”), Federal Home Loan Mortgage Corporation (“FHLMC”), and Federal National Mortgage Association (“FNMA”). At March 31, 2016 the Company had 13 agency mortgage-backed securities with unrealized losses for 12 months or longer. Those securities had aggregate depreciation of 1.4 . The amortized cost and estimated fair value of debt securities available for sale and held to maturity at March 31, 2016 by contractual maturity are shown below. March 31, 2016 Held to Maturity Available for Sale Securities Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (Dollars in thousands) Due within 1 year $ 375 $ 375 $ 3,983 $ 4,000 Due after 1 year through 5 years 33 33 Due after 5 years through 10 years Due after 10 years 3,687 2,645 Total $ 375 $ 375 $ 7,703 $ 6,678 Equity securities had a cost of $ 3 41 100.9 100.6 |
LOANS RECEIVABLE - NET
LOANS RECEIVABLE - NET | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3 . LOANS RECEIVABLE - NET March 31, 2016 December 31, 2015 (Dollars in thousands) Real estate - mortgage: One-to-four family residential $ 613,761 $ 607,807 Commercial and multi-family 84,639 84,075 Total real estate-mortgage 698,400 691,882 Real estate - construction: Residential 17,755 14,960 Commercial 5,310 3,595 Total real estate - construction 23,065 18,555 Commercial 20,727 21,383 Consumer: Home equity 49,515 51,001 Other consumer loans 282 431 Total consumer loans 49,797 51,432 Total loans 791,989 783,252 Net deferred loan cost 4,015 3,886 Allowance for loan losses (3,220) (3,190) Net total loans $ 792,784 $ 783,948 The Bank originates loans to customers primarily in its local market area. The ultimate repayment of these loans is dependent to a certain degree on the local economy and real estate market. The intent of management is to hold loans originated and purchased to maturity. Three months ended March 31, 2016 2015 (Dollars in thousands) Balance, beginning of period $ 3,190 $ 3,760 Provision for loan loss 152 153 Charge-offs (122) (529) Recoveries Balance, end of period $ 3,220 $ 3,384 The provision for loan losses charged to expense is based upon past loan loss experiences, a series of qualitative factors, and an evaluation of losses in the current loan portfolio, including the specific evaluation of impaired loans. Values assigned to the qualitative factors and those developed from historic loss experience provide a dynamic basis for the calculation of reserve factors for both passrated loans (general pooled allowance) and the criticized and classified loans that continue to perform. Non-performing assets segregated by class of loans are as follows: March 31, 2016 December 31, 2015 (Dollars in thousands) Real estate One-to-four family residential $ 2,753 $ 2,597 Commercial and multi-family 926 1,580 Real estate construction 143 Commercial 41 41 Consumer 385 601 Non-accrual loans 4,105 4,962 Troubled debt restructuring, non-accrual 559 708 Total non-performing loans 4,664 5,670 Real estate owned 2,258 1,814 Total non-performing assets $ 6,922 $ 7,484 Loans and Debts Securities Acquired with Deteriorated Credit Quality Contractual Receivable Nonaccretable Accretable Carrying Amount (Yield)/Premium (Yield)/Premium Amount (Dollars in thousands) Balance at January 1, 2016 $ 38,621 $ (2,423) $ 426 $ 36,624 Principal reductions (845) (845) Charge-offs, net (501) 501 Accretion of loan discount (premium) (27) (27) Transfer between nonaccretable and accretable yield Balance at March 31, 2016 $ 37,275 $ (1,922) $ 399 $ 35,752 Contractual Receivable Nonaccretable Accretable Carrying Amount (Yield)/Premium (Yield)/Premium Amount (Dollars in thousands) Balance at January 1, 2015 $ 44,216 $ (2,540) $ 542 $ 42,218 Principal reductions (1,325) (1,325) Charge-offs, net (62) 62 Accretion of loan discount (premium) (29) (29) Transfer between nonaccretable and accretable yield Balance at March 31, 2015 $ 42,829 $ (2,478) $ 513 $ 40,864 30-59 Days 60-89 Days Greater Total Past Current Total Loans (Dollars in thousands) March 31, 2016 Real Estate 1-4 Family Residential $ 962 $ $ 3,123 $ 4,085 $ 609,676 $ 613,761 Commercial and Multi-Family 926 926 83,713 84,639 Construction 23,065 23,065 Commercial 41 41 20,686 20,727 Consumer 87 124 385 596 49,201 49,797 Total $ 1,049 $ 124 $ 4,475 $ 5,648 $ 786,341 $ 791,989 December 31, 2015 Real Estate 1-4 Family Residential $ 1,483 $ $ 2,968 $ 4,451 $ 603,356 $ 607,807 Commercial and Multi-Family 1,580 1,580 82,495 84,075 Construction 143 143 18,412 18,555 Commercial 41 41 21,342 21,383 Consumer 93 21 601 715 50,717 51,432 Total $ 1,576 $ 21 $ 5,333 $ 6,930 $ 776,322 $ 783,252 Recorded Unpaid Related Average (Dollars in thousands) March 31, 2016 With no related allowance recorded Real Estate 1-4 Family Residential $ 5,420 $ 5,588 $ $ 143 Commercial and Multi-Family 704 704 176 Construction 143 143 143 Commercial 41 41 41 Consumer 903 903 56 With an allowance recorded Real Estate 1-4 Family Residential 3,459 3,539 624 288 Commercial and Multi-Family 472 497 103 236 Construction Commercial 174 174 4 174 Consumer 324 446 56 65 Total Real Estate 1-4 Family Residential $ 8,879 $ 9,127 $ 624 $ 178 Commercial and Multi-Family 1,176 1,201 103 196 Construction 143 143 143 Commercial 215 215 4 107 Consumer 1,227 1,349 56 58 December 31, 2015 With no related allowance recorded Real Estate 1-4 Family Residential $ 6,103 $ 6,320 $ $ 153 Commercial and Multi-Family 1,545 1,545 257 Construction 143 143 143 Commercial 41 41 41 Consumer 1,187 1,187 66 With an allowance recorded Real Estate 1-4 Family Residential 3,758 3,868 599 268 Commercial and Multi-Family 285 310 23 285 Construction Commercial 179 179 4 179 Consumer 434 479 179 72 Total Real Estate 1-4 Family Residential $ 9,861 $ 10,188 $ 599 $ 183 Commercial and Multi-Family 1,830 1,855 23 261 Construction 143 143 143 Commercial 220 220 4 110 Consumer 1,621 1,666 179 68 Included in the Company’s loan portfolio are modified commercial loans. Per FASB ASC 310-40, Troubled Debt Restructuring (“TDR”), a modification is one in which the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider, such as providing for a below market interest rate and/or forgiving principal or previously accrued interest; this modification may stem from an agreement or be imposed by law or a court, and may involve a multiple note structure. Generally, prior to the modification, the loans which are modified as a TDR are already classified as non-performing. These loans may only be returned to performing (i.e. accrual status) after considering the borrower’s sustained repayment performance for a reasonable amount of time, generally six months; this sustained repayment performance may include the period of time just prior to the restructuring. As of March 31, 2016, the Company entered into 20 TDR agreements with a total carrying value of $ 4.3 559 37 As of March 31, 2016 As of December 31, 2015 Outstanding Recorded Investment Outstanding Recorded Investment Number of Pre- Post- Number of Pre- Post- (Dollars in thousands) (Dollars in thousands) 1-4 Family Residential 10 $ 3,256 $ 3,256 10 $ 3,378 $ 3,378 Commercial Mortgage 2 250 250 2 250 250 Consumer 7 617 617 7 621 621 Commercial 1 174 174 1 179 179 Total 20 $ 4,297 $ 4,297 20 $ 4,428 $ 4,428 Federal regulations require us to review and classify our assets on a regular basis. In addition, federal banking regulators have the authority to identify problem assets and, if appropriate, require them to be classified. There are three classifications for problem assets: substandard, doubtful and loss. “Substandard assets” must have one or more defined weaknesses and are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. “Doubtful assets” have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions and values questionable, and there is a high possibility of loss. An asset classified as “loss” is considered uncollectible and of such little value that continuance as an asset of the institution is not warranted. The regulations also provide for a “special mention” category, described as assets which do not currently expose us to a sufficient degree of risk to warrant classification but do possess credit deficiencies or potential weaknesses deserving our close attention. When we classify an asset as substandard or doubtful we establish a specific allowance for loan losses. If we classify an asset as loss, we charge off an amount equal to 100% of the portion of the asset classified loss. Real Estate 1-4 Family Commercial Residential and Multi-Family Construction Commercial Consumer 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 (Dollars in thousands) Grade: Special Mention $ 2,123 $ 3,182 $ 1,104 $ 321 $ $ $ $ $ 728 $ 807 Substandard 7,994 7,916 2,886 3,989 143 143 552 557 925 1,272 Doubtful and Loss Total $ 10,117 $ 11,098 $ 3,990 $ 4,310 $ 143 $ 143 $ 552 $ 557 $ 1,653 $ 2,079 Real Estate 1-4 Family Commercial Residential and Multi-Family Construction Commercial Consumer 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 (Dollars in thousands) Performing $ 611,008 $ 605,210 $ 83,713 $ 82,495 $ 23,065 $ 18,412 $ 20,686 $ 21,342 $ 49,412 $ 50,831 Non-Performing 2,753 2,597 726 1,580 143 41 41 385 601 Total $ 613,761 $ 607,807 $ 84,639 $ 84,075 $ 23,065 $ 18,555 $ 20,727 $ 21,383 $ 49,797 $ 51,432 Real Estate Commercial 1-4 Family and Residential Multi-Family Construction Commercial Consumer Total (Dollars in thousands) March 31, 2016 Allowance for credit losses: Beginning Balance $ 2,051 $ 240 $ 25 $ 236 $ 638 $ 3,190 Charge-offs (46) (76) (122) Recoveries Provision for loan losses 56 98 8 119 (129) 152 Ending balance $ 2,061 $ 338 $ 33 $ 355 $ 433 $ 3,220 Ending balance: individually evaluated for impairment $ 624 $ 103 $ $ 4 $ 56 $ 787 Ending balance: collectively evaluated for impairment $ 1,437 $ 235 $ 33 $ 351 $ 377 $ 2,433 Loan Receivables: Ending balance $ 613,761 $ 84,639 $ 23,065 $ 20,727 $ 49,797 $ 791,989 Ending balance: individually evaluated for impairment $ 8,879 $ 1,176 $ 143 $ 215 $ 1,227 $ 11,640 Ending balance: collectively evaluated for impairment $ 604,882 $ 83,463 $ 22,922 $ 20,512 $ 48,570 $ 780,349 December 31, 2015 Allowance for credit losses: Beginning Balance $ 2,318 $ 625 $ 33 $ 380 $ 404 $ 3,760 Charge-offs (683) (25) (306) (245) (1,259) Recoveries Provision for loan losses 416 (360) (8) 162 479 689 Ending balance $ 2,051 $ 240 $ 25 $ 236 $ 638 $ 3,190 Ending balance: individually evaluated for impairment $ 599 $ 23 $ $ 4 $ 178 $ 804 Ending balance: collectively evaluated for impairment $ 1,452 $ 217 $ 25 $ 232 $ 460 $ 2,386 Loan Receivables: Ending balance $ 607,807 $ 84,075 $ 18,555 $ 21,383 $ 51,432 $ 783,252 Ending balance: individually evaluated for impairment $ 9,861 $ 1,830 $ 143 $ 220 $ 1,621 $ 13,675 Ending balance: collectively evaluated for impairment $ 597,946 $ 82,245 $ 18,412 $ 21,163 $ 49,811 $ 769,577 |
DEPOSITS
DEPOSITS | 3 Months Ended |
Mar. 31, 2016 | |
Banking and Thrift [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 4. DEPOSITS March 31, 2016 December 31, 2015 Weighted Weighted Average Average Amount Interest Rate Amount Interest Rate (Dollars in thousands) NOW and other demand deposit accounts $ 454,843 0.13 % $ 457,488 0.13 % Passbook savings and club accounts 179,350 0.20 % 174,640 0.20 % Subtotal 634,193 632,128 Certificates with original maturities: Within one year 28,085 0.30 % 29,341 0.30 % One to three years 133,103 1.03 % 127,813 1.03 % Three years and beyond 22,924 1.56 % 22,751 1.56 % Total certificates 184,112 179,905 Total $ 818,305 $ 812,033 The aggregate amount of certificate accounts in denominations of $100 thousand or more at March 31, 2016 and December 31, 2015 amounted to $ 72.9 70.6 250 Municipal demand deposit accounts in denominations of $100 thousand or more at March 31, 2016 and December 31, 2015 amounted to $ 187.7 194.6 |
EARNINGS PER SHARE
EARNINGS PER SHARE | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 5. EARNINGS PER SHARE Basic net income per share is based upon the weighted average number of common shares outstanding, net of any treasury shares, while diluted net income per share is based upon the weighted average number of common shares outstanding, net of any treasury shares, after consideration of the potential dilutive effect of common stock equivalents, based upon the treasury stock method using an average market price for the period, and impact of unallocated Employee Stock Ownership Plan (“ESOP”) shares. Three Months Ended March 31, 2016 2015 (Dollars in thousands, except per share data) Numerator Net Income $ 1,756 $ 1,713 Denominators: Basic average shares outstanding 6,127,162 5,985,347 Effect of dilutive common stock equivalents 108,609 109,830 Diluted average shares outstanding 6,235,771 6,095,177 Earnings per share: Basic $ 0.29 $ 0.29 Diluted $ 0.28 $ 0.28 At March 31, 2016 and 2015, there were 280,979 575,142 88,648 53,960 |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. STOCK-BASED COMPENSATION Stock-based compensation is accounted for in accordance with FASB ASC 718, Compensation Stock Compensation. The Company establishes fair value for its equity awards to determine their cost. The Company recognizes the related expense for employees over the appropriate vesting period, or when applicable, service period. However, consistent with the stock compensation topic of the FASB Accounting Standards Codification, the amount of stock-based compensation recognized at any date must at least equal the portion of the grant date value of the award that is vested at that date and as a result it may be necessary to recognize the expense using a ratable method. In accordance with FASB ASC 505-50, Equity-Based Payments to Non-Employees, the compensation expense for non-employees is recognized on the grant date, or when applicable, the service period. The Company’s 2005 and 2010 Equity-Based Incentive Plans (the “Equity Plans”) authorize the issuance of shares of common stock pursuant to awards that may be granted in the form of stock options to purchase common stock (“options”) and awards of shares of common stock (“stock awards”). The purpose of the Equity Plans is to attract and retain personnel for positions of substantial responsibility and to provide additional incentive to certain officers, directors, advisory directors, employees and other persons to promote the success of the Company. Under the Equity Plans, options expire ten years after the date of grant, unless terminated earlier under the option terms. A committee of non-employee directors has the authority to determine the conditions upon which the options granted will vest. Options are granted at the then fair market value of the Company’s stock. A summary of the status of the Company’s stock options under the Equity Plans as of March 31, 2016 and 2015 and changes during the three months ended March 31, 2016 and 2015 are presented below: Three Months Ended Three Months Ended Number Weighted Number Weighted Outstanding at the beginning of the period 380,407 $ 11.46 674,391 $ 12.15 Granted Exercised 8,620 11.24 28,668 12.97 Forfeited 2,160 13.56 Outstanding at the end of the period 369,627 $ 11.45 645,723 $ 12.11 Exercisable at the end of the period 317,273 $ 11.10 515,964 $ 12.07 Stock options vested or expected to vest (1) 285,546 $ 11.10 464,368 $ 12.07 (1) Includes vested shares and nonvested shares after a forfeiture rate, which is based upon historical data, is applied. The following table summarizes all stock options outstanding under the Equity Plans as of March 31, 2016: Options Outstanding Date Issued Number of Weighted Average Weighted Average November 21, 2006 14,506 $ 14.78 0.6 years November 20, 2007 17,274 $ 11.32 1.6 years August 18, 2010 202,959 $ 10.21 4.4 years March 15, 2011 13,600 $ 12.06 5.0 years August 17, 2011 43,998 $ 11.53 5.4 years November 19, 2012 14,100 $ 13.10 6.6 years November 19, 2013 63,190 $ 14.14 7.6 years Total 369,627 $ 11.45 4.9 years The compensation expense recognized for the three months ended March 31, 2016 was $45 thousand as compared to $46 thousand for the three months ended March 31, 2015. At March 31, 2016, there was $208 thousand of total unrecognized compensation cost related to options granted under the stock option plans. That cost is expected to be recognized over a weighted average period of 1.4 years. Summary of Non-vested Stock Award Activity: Three Months ended Three Months ended Number of Weighted avg Number of Weighted avg Outstanding at the beginning of period 26,610 $ 14.06 54,950 $ 10.74 Issued Forfeited Vested 990 $ 12.06 990 $ 12.06 Outstanding at the end of the period 25,620 $ 14.14 53,960 $ 12.73 The compensation expense recognized for the three months ended March 31, 2016 was $33 thousand as compared to $81 thousand for the three months ended March 31, 2015. As of March 31, 2016, there was $317 thousand of total unrecognized compensation costs related to nonvested stock awards. That cost is expected to be recognized over a weighted average period of 3 years. |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 7. INCOME TAXES Income tax expense was $ 878 33.3 833 32.7 Periodic reviews of the carrying amount of deferred tax assets are made to determine if the establishment of a valuation allowance is necessary. If based on the available evidence in future periods, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized, a deferred tax valuation allowance would be established. Consideration is given to all positive and negative evidence related to the realization of the deferred tax assets. Items considered in this evaluation include historical financial performance, expectation of future earnings, the ability to carry back losses to recoup taxes previously paid, length of statutory carryforward periods, experience with operating loss and tax credit carryforwards not expiring unused, tax planning strategies and timing of reversals of temporary differences. Significant judgment is required in assessing future earnings trends and the timing of reversals of temporary differences. The evaluation is based on current tax laws as well as expectations of future performance. At March 31, 2016 and December 31, 2015, no valuation allowance has been recorded for any portfolio of the outstanding deferred tax asset. The Company recognizes, when applicable, interest and penalties related to unrecognized tax benefits in the provision for income taxes in the consolidated income statement. As of March 31, 2016, the tax years ended December 31, 2012 through 2015 were subject to examination by the Internal Revenue Service, while the tax years ended December 31, 2011 through 2015 were subject to New Jersey examination. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Stockholders Equity Note Disclosure [Text Block] | 8. STOCKHOLDERS’ EQUITY During the first quarter of 2016, the Board of Directors of the Company declared a cash dividend of $ 0.06 No reclassification adjustments were recognized in Accumulated Other Comprehensive Income during the three months ended March 31, 2016 and 2015. Unrealized Loss on Post Accumulated (Dollars in thousands) Beginning balance - 01/01/2016 $ (1,255) $ (133) $ (1,388) Current period change 696 3 699 Tax benefit (282) - (282) Ending balance 03/31/2016 $ (841) $ (130) $ (971) Unrealized Loss on Post Accumulated (Dollars in thousands) Beginning balance - 01/01/2015 $ (1,282) $ (169) $ (1,451) Current period change 644 5 649 Tax benefit (257) - (257) Ending balance 03/31/2015 $ (895) $ (164) $ (1,059) |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 9. FAIR VALUE MEASUREMENTS The Company accounts for fair value measurement in accordance with FASB ASC 820, Fair Value Measurements and Disclosures FASB ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - 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 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities 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. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. In addition, the Company is to disclose the fair value measurements for financial assets on both a recurring and non-recurring basis. March 31, 2016 Category Used for Fair Value Measurement Assets: Level 1 Level 2 Level 3 (Dollars in thousands) Securities available for sale: U.S. government sponsored entity mortgage-backed securities $ $ 100,041 $ U.S. Treasury and federal agencies 33 Corporate securities 6,646 Equity securities 41 Totals $ 41 $ 106,720 $ December 31, 2015 Category Used for Fair Value Measurement Assets: Level 1 Level 2 Level 3 (Dollars in thousands) Securities available for sale: U.S. government sponsored entity mortgage-backed securities $ $ 92,982 $ U.S. Treasury and federal agencies 10,040 Corporate securities 8,844 Equity securities 42 Totals $ 42 $ 111,866 $ In accordance with the fair value measurement and disclosures topic of the FASB Accounting Standards Codification management assessed whether the volume and level of activity for certain assets have significantly decreased when compared with normal market conditions. The Company concluded that there was not a significant decrease in the volume and level of activity with respect to certain investments included in the corporate debt securities and classified as level 2 in accordance with the framework for fair value measurements. Fair value for such securities is obtained from third party broker quotes. The Company evaluated these values to determine that the quoted price is based on current information that reflects orderly transactions or a valuation technique that reflects market participant assumptions by benchmarking the valuation results and assumptions used against similar securities that are more actively traded in order to assess the reasonableness of the estimated fair values. The fair market value estimates we assign to these securities assume liquidation in an orderly fashion and not under distressed circumstances. Certain assets are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The Company measures impaired loans, FHLB stock and loans or bank properties transferred into other real estate owned at fair value on a non-recurring basis. Total Category Used for Fair Value (Losses) Measurement Gains Total Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2016 Assets: Impaired loans $ 3,642 $ - $ 539 $ 3,103 $ (25) Real estate owned 788 - 678 110 (46) March 31, 2015 Assets: Impaired loans $ 5,263 $ - $ 3,321 $ 1,942 $ (66) Real estate owned 195 - 195 - (306) Impaired Loans The Company considers a loan to be impaired when it becomes probable that the Company will be unable to collect all amounts due in accordance with the contractual terms of the loan agreement. Under FASB ASC 310, collateral dependent impaired loans are valued based on the fair value of the collateral, which is based on appraisals, less cost to sell. These adjustments are based upon observable inputs, and therefore, the fair value measurement has been categorized as a level 2 measurement. In some cases, adjustments are made to the appraised values for various factors, including age of the appraisal, age of the comparables included in the appraisal, and known changes in the market and in the collateral. These adjustments are based upon unobservable inputs, and therefore, the fair value measurement has been categorized as a Level 3 measurement. At March 31, 2016, total loans remeasured at fair value were $ 3.6 3.7 25 5.3 5.3 66 Real Estate Owned Once an asset is determined to be uncollectible, the underlying collateral is repossessed and reclassified to foreclosed real estate and repossessed assets. These assets are carried at lower of cost or fair value of the collateral, less cost to sell. These adjustments are based upon observable inputs, and therefore, the fair value measurement has been categorized as a Level 2 measurement. In some cases, adjustments are made to the appraised values for various factors, including age of the appraisal, age of the comparables included in the appraisal, and known changes in the market and in the collateral. These adjustments are based upon unobservable inputs, and therefore, the fair value measurement has been categorized as a Level 3 measurement. Total real estate owned remeasured at fair value for the three months ended March 31, 2016 was $ 788 834 46 Fair Value of Financial Instruments In accordance with FASB ASC 825-10-50-10, the Company is required to disclose the fair value of financial instruments. The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a distressed sale. Fair value is best determined using observable market prices; however, for many of the Company’s financial instruments, no quoted market prices are readily available. In instances where quoted market prices are not readily available, fair value is determined using present value or other techniques appropriate for the particular instrument. These techniques involve some degree of judgment and, as a result, are not necessarily indicative of the amounts the Company would realize in a current market exchange. Different assumptions or estimation techniques may have a material effect on the estimated fair value. Category Used For Fair Value March 31, 2016 Carrying Amount Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 93,554 $ 93,554 $ $ Investment securities: Held to maturity 864 919 Available for sale 106,761 41 106,720 Loans receivable, net 792,784 811,123 Federal Home Loan Bank stock 5,864 5,864 Liabilities: NOW and other demand deposit accounts 454,843 445,681 Passbook savings and club accounts 179,350 173,355 Certificates 184,112 185,087 Advances from Federal Home Loan Bank 105,000 112,447 Category Used For Fair Value December 31, 2015 Carrying Amount Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 87,710 $ 87,710 $ $ Investment securities: Held to maturity 1,084 1,137 Available for sale 111,908 42 111,866 Loans receivable, net 783,948 793,597 Federal Home Loan Bank stock 5,864 5,864 Liabilities: NOW and other demand deposit accounts 457,488 476,186 Passbook savings and club accounts 174,640 183,352 Certificates 179,905 180,624 Advances from Federal Home Loan Bank 105,000 111,315 Cash and Cash Equivalents For cash and cash equivalents, the carrying amount is a reasonable estimate of fair value. Investment and Mortgage-Backed Securities For investment securities, fair values are based on a combination of quoted prices for identical assets in active markets, quoted prices for similar assets in markets that are either actively or not actively traded and pricing models, discounted cash flow methodologies, or similar techniques that may contain unobservable inputs that are supported by little or no market activity and require significant judgment. For investment securities that do not actively trade in the marketplace, (primarily our investment in trust preferred securities of non-publicly traded companies) fair value is obtained from third party broker quotes. The Company evaluates prices from a third party pricing service, third party broker quotes, and from another independent third party valuation source to determine their estimated fair value. These quotes are benchmarked against similar securities that are more actively traded in order to assess the reasonableness of the estimated fair values. The fair market value estimates we assign to these securities assume liquidation in an orderly fashion and not under distressed circumstances. For securities classified as available for sale, the changes in fair value are reflected in the carrying value of the asset and are shown as a separate component of stockholders’ equity. Loans Receivable - Net The fair value of loans receivable is estimated based on the present value using discounted cash flows based on estimated market discount rates at which similar loans would be made to borrowers and reflect similar credit ratings and interest rate risk for the same remaining maturities. FHLB Stock Although FHLB stock is an equity interest in an FHLB, it is carried at cost because it does not have a readily determinable fair value as its ownership is restricted and it lacks a market. While certain conditions are noted that required management to evaluate the stock for impairment, it is currently probable that the Company will realize its cost basis. Management concluded that no impairment existed as of March 31, 2016. The estimated fair value approximates the carrying amount. NOW and Other Demand Deposit, Passbook Savings and Club, and Certificates Accounts The fair value of NOW and other demand deposit accounts and passbook savings and club accounts is the amount payable on demand at the reporting date. The fair value of certificates is estimated by discounting future cash flows using interest rates currently offered on certificates with similar remaining maturities. Advances from FHLB The fair value was estimated by determining the cost or benefit for early termination of each individual borrowing. Commitments to Extend Credit and Letters of Credit The majority of the Bank’s commitments to extend credit and letters of credit carry current market interest rates if converted to loans. Because commitments to extend credit and letters of credit are generally unassignable by either the Bank or the borrower, they only have value to the Bank and the borrower. The estimated fair value approximates the recorded deferred fee amounts, which are not significant. The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2016 and December 31, 2015. Although management is not aware of any factors that would significantly affect the fair value amounts, such amounts have not been comprehensively revalued for purposes of these consolidated financial statements since March 31, 2016 and December 31, 2015, and, therefore, current estimates of fair value may differ significantly from the amounts presented herein. |
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 10. GOODWILL AND INTANGIBLE ASSETS Goodwill totaled $ 4.6 4.6 The core deposit intangible totaled $ 416 440 15 |
REAL ESTATE OWNED
REAL ESTATE OWNED | 3 Months Ended |
Mar. 31, 2016 | |
Real Estate [Abstract] | |
Real Estate Disclosure [Text Block] | 11. REAL ESTATE OWNED 2016 2015 Residential Commercial Residential Commercial Property Property Total Property Property Total (Dollars in thousands) (Dollars in thousands) Balance, January 1, $ 1,773 $ 41 $ 1,814 $ 609 $ 41 $ 650 Transfers into REO 110 678 788 192 195 387 Sales of REO (344) - (344) (429) - (429) Balance, March 31, $ 1,539 $ 719 $ 2,258 $ 372 $ 236 $ 608 |
SUMMARY OF SIGNIFICANT ACCOUN17
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Financial Statement Presentation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of Financial Statements |
New Accounting Pronouncements Policy [Policy Text Block] | "Revenue from Contracts with Customers," In August 2014, the FASB also issued ASU 2014-15, “ Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” In March 2016, the FASB issued ASU 2016-09, “ Compensation - Stock Compensation (Topic 718)” |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Held-to-maturity and Available-for-sale Securities Reconciliation [Table Text Block] | Investment securities are summarized as follows: March 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gain Loss Value (Dollars in thousands) Held to Maturity Debt Securities Municipal $ 375 $ $ $ 375 U.S. Treasury and government sponsored entity mortgage-backed securities 489 55 544 Totals $ 864 $ 55 $ $ 919 Available for Sale Debt securities: Corporate $ 7,670 $ 17 $ (1,041) $ 6,646 U.S. Treasury and federal agencies 33 33 Equity securities 3 38 41 U.S. treasury and government sponsored entity mortgage-backed securities 100,396 363 (718) 100,041 Totals $ 108,102 $ 418 $ (1,759) $ 106,761 December 31, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gain Loss Value (Dollars in thousands) Held to Maturity Debt Securities - Municipal $ 577 $ $ $ 577 U.S. Treasury and government sponsored entity mortgage-backed securities 507 53 560 Totals $ 1,084 $ 53 $ $ 1,137 Available for Sale Debt securities: Corporate $ 9,660 $ 26 $ (842) $ 8,844 U.S. Treasury and federal agencies 10,033 7 10,040 Equity securities 3 39 42 U.S. Treasury and government sponsored entity mortgage-backed securities 94,248 223 (1,489) 92,982 Totals $ 113,944 $ 295 $ (2,331) $ 111,908 |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following table provides the gross unrealized losses and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015: March 31, 2016 Less Than 12 Months 12 Months or Longer Total Gross Gross Gross Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss (Dollars in thousands) Debt securities - Corporate $ $ $ 2,645 $ (1,041) $ 2,645 $ (1,041) U.S. treasury and government sponsored entity mortgage-backed securities 14,943 (22) 49,433 (696) 64,376 (718) Totals $ 14,943 $ (22) $ 52,078 $ (1,737) $ 67,021 $ (1,759) December 31, 2015 Less Than 12 Months 12 Months or Longer Total Gross Gross Gross Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Loss Fair Value Loss Fair Value Loss (Dollars in thousands) Debt securities - Corporate $ $ $ 2,843 $ (842) $ 2,843 $ (842) U.S. Treasury and government sponsored entity mortgage-backed securities 20,704 (217) 51,821 (1,272) 72,525 (1,489) Totals $ 20,704 $ (217) $ 54,664 $ (2,114) $ 75,368 $ (2,331) |
Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] | Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2016 Held to Maturity Available for Sale Securities Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (Dollars in thousands) Due within 1 year $ 375 $ 375 $ 3,983 $ 4,000 Due after 1 year through 5 years 33 33 Due after 5 years through 10 years Due after 10 years 3,687 2,645 Total $ 375 $ 375 $ 7,703 $ 6,678 |
LOANS RECEIVABLE - NET (Tables)
LOANS RECEIVABLE - NET (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable consist of the following: March 31, 2016 December 31, 2015 (Dollars in thousands) Real estate - mortgage: One-to-four family residential $ 613,761 $ 607,807 Commercial and multi-family 84,639 84,075 Total real estate-mortgage 698,400 691,882 Real estate - construction: Residential 17,755 14,960 Commercial 5,310 3,595 Total real estate - construction 23,065 18,555 Commercial 20,727 21,383 Consumer: Home equity 49,515 51,001 Other consumer loans 282 431 Total consumer loans 49,797 51,432 Total loans 791,989 783,252 Net deferred loan cost 4,015 3,886 Allowance for loan losses (3,220) (3,190) Net total loans $ 792,784 $ 783,948 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Changes in the allowance for loan losses are as follows: Three months ended March 31, 2016 2015 (Dollars in thousands) Balance, beginning of period $ 3,190 $ 3,760 Provision for loan loss 152 153 Charge-offs (122) (529) Recoveries Balance, end of period $ 3,220 $ 3,384 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | Non-performing assets segregated by class of loans are as follows: March 31, 2016 December 31, 2015 (Dollars in thousands) Real estate One-to-four family residential $ 2,753 $ 2,597 Commercial and multi-family 926 1,580 Real estate construction 143 Commercial 41 41 Consumer 385 601 Non-accrual loans 4,105 4,962 Troubled debt restructuring, non-accrual 559 708 Total non-performing loans 4,664 5,670 Real estate owned 2,258 1,814 Total non-performing assets $ 6,922 $ 7,484 |
Schedule of Nonaccretable and Accretable Yield on Loans and Debts Securities [Table Text Block] | A rollforward of the Company’s nonaccretable and accretable yield on loans accounted for under ASU 310-30, Loans and Debts Securities Acquired with Deteriorated Credit Quality Contractual Receivable Nonaccretable Accretable Carrying Amount (Yield)/Premium (Yield)/Premium Amount (Dollars in thousands) Balance at January 1, 2016 $ 38,621 $ (2,423) $ 426 $ 36,624 Principal reductions (845) (845) Charge-offs, net (501) 501 Accretion of loan discount (premium) (27) (27) Transfer between nonaccretable and accretable yield Balance at March 31, 2016 $ 37,275 $ (1,922) $ 399 $ 35,752 Contractual Receivable Nonaccretable Accretable Carrying Amount (Yield)/Premium (Yield)/Premium Amount (Dollars in thousands) Balance at January 1, 2015 $ 44,216 $ (2,540) $ 542 $ 42,218 Principal reductions (1,325) (1,325) Charge-offs, net (62) 62 Accretion of loan discount (premium) (29) (29) Transfer between nonaccretable and accretable yield Balance at March 31, 2015 $ 42,829 $ (2,478) $ 513 $ 40,864 |
Past Due Financing Receivables [Table Text Block] | An age analysis of past due loans, segregated by class of loans, as of March 31, 2016 and December 31, 2015 are as follows: 30-59 Days 60-89 Days Greater Total Past Current Total Loans (Dollars in thousands) March 31, 2016 Real Estate 1-4 Family Residential $ 962 $ $ 3,123 $ 4,085 $ 609,676 $ 613,761 Commercial and Multi-Family 926 926 83,713 84,639 Construction 23,065 23,065 Commercial 41 41 20,686 20,727 Consumer 87 124 385 596 49,201 49,797 Total $ 1,049 $ 124 $ 4,475 $ 5,648 $ 786,341 $ 791,989 December 31, 2015 Real Estate 1-4 Family Residential $ 1,483 $ $ 2,968 $ 4,451 $ 603,356 $ 607,807 Commercial and Multi-Family 1,580 1,580 82,495 84,075 Construction 143 143 18,412 18,555 Commercial 41 41 21,342 21,383 Consumer 93 21 601 715 50,717 51,432 Total $ 1,576 $ 21 $ 5,333 $ 6,930 $ 776,322 $ 783,252 |
Impaired Financing Receivables [Table Text Block] | Impaired loans are set forth the in the following table. No interest income was recognized on impaired loans subsequent to their classification as impaired. Recorded Unpaid Related Average (Dollars in thousands) March 31, 2016 With no related allowance recorded Real Estate 1-4 Family Residential $ 5,420 $ 5,588 $ $ 143 Commercial and Multi-Family 704 704 176 Construction 143 143 143 Commercial 41 41 41 Consumer 903 903 56 With an allowance recorded Real Estate 1-4 Family Residential 3,459 3,539 624 288 Commercial and Multi-Family 472 497 103 236 Construction Commercial 174 174 4 174 Consumer 324 446 56 65 Total Real Estate 1-4 Family Residential $ 8,879 $ 9,127 $ 624 $ 178 Commercial and Multi-Family 1,176 1,201 103 196 Construction 143 143 143 Commercial 215 215 4 107 Consumer 1,227 1,349 56 58 December 31, 2015 With no related allowance recorded Real Estate 1-4 Family Residential $ 6,103 $ 6,320 $ $ 153 Commercial and Multi-Family 1,545 1,545 257 Construction 143 143 143 Commercial 41 41 41 Consumer 1,187 1,187 66 With an allowance recorded Real Estate 1-4 Family Residential 3,758 3,868 599 268 Commercial and Multi-Family 285 310 23 285 Construction Commercial 179 179 4 179 Consumer 434 479 179 72 Total Real Estate 1-4 Family Residential $ 9,861 $ 10,188 $ 599 $ 183 Commercial and Multi-Family 1,830 1,855 23 261 Construction 143 143 143 Commercial 220 220 4 110 Consumer 1,621 1,666 179 68 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table presents an analysis of the Company’s TDR agreements existing as of March 31, 2016 and December 31, 2015, respectively. As of March 31, 2016 As of December 31, 2015 Outstanding Recorded Investment Outstanding Recorded Investment Number of Pre- Post- Number of Pre- Post- (Dollars in thousands) (Dollars in thousands) 1-4 Family Residential 10 $ 3,256 $ 3,256 10 $ 3,378 $ 3,378 Commercial Mortgage 2 250 250 2 250 250 Consumer 7 617 617 7 621 621 Commercial 1 174 174 1 179 179 Total 20 $ 4,297 $ 4,297 20 $ 4,428 $ 4,428 |
Schedule of Financial Receivable, Reported Amounts, by Category [Table Text Block] | The following table presents classified loans by class of loans as of March 31, 2016 and December 31, 2015. Real Estate 1-4 Family Commercial Residential and Multi-Family Construction Commercial Consumer 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 (Dollars in thousands) Grade: Special Mention $ 2,123 $ 3,182 $ 1,104 $ 321 $ $ $ $ $ 728 $ 807 Substandard 7,994 7,916 2,886 3,989 143 143 552 557 925 1,272 Doubtful and Loss Total $ 10,117 $ 11,098 $ 3,990 $ 4,310 $ 143 $ 143 $ 552 $ 557 $ 1,653 $ 2,079 |
Schedule of Performing and Non-Performing Financial Receivable [Table Text Block] | The following table presents the credit risk profile of loans based on payment activity as of March 31, 2016 and December 31, 2015. Real Estate 1-4 Family Commercial Residential and Multi-Family Construction Commercial Consumer 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 3/31/2016 12/31/2015 (Dollars in thousands) Performing $ 611,008 $ 605,210 $ 83,713 $ 82,495 $ 23,065 $ 18,412 $ 20,686 $ 21,342 $ 49,412 $ 50,831 Non-Performing 2,753 2,597 726 1,580 143 41 41 385 601 Total $ 613,761 $ 607,807 $ 84,639 $ 84,075 $ 23,065 $ 18,555 $ 20,727 $ 21,383 $ 49,797 $ 51,432 |
Schedule of Allowance for Possible Loan Losses by Portfolio Segment [Table Text Block] | The following table details activity in the allowance for possible loan losses by portfolio segment for the periods ended March 31, 2016 and December 31, 2015. Allocation of a portion of the allowance to one category does not preclude its availability to absorb losses in other categories. Real Estate Commercial 1-4 Family and Residential Multi-Family Construction Commercial Consumer Total (Dollars in thousands) March 31, 2016 Allowance for credit losses: Beginning Balance $ 2,051 $ 240 $ 25 $ 236 $ 638 $ 3,190 Charge-offs (46) (76) (122) Recoveries Provision for loan losses 56 98 8 119 (129) 152 Ending balance $ 2,061 $ 338 $ 33 $ 355 $ 433 $ 3,220 Ending balance: individually evaluated for impairment $ 624 $ 103 $ $ 4 $ 56 $ 787 Ending balance: collectively evaluated for impairment $ 1,437 $ 235 $ 33 $ 351 $ 377 $ 2,433 Loan Receivables: Ending balance $ 613,761 $ 84,639 $ 23,065 $ 20,727 $ 49,797 $ 791,989 Ending balance: individually evaluated for impairment $ 8,879 $ 1,176 $ 143 $ 215 $ 1,227 $ 11,640 Ending balance: collectively evaluated for impairment $ 604,882 $ 83,463 $ 22,922 $ 20,512 $ 48,570 $ 780,349 December 31, 2015 Allowance for credit losses: Beginning Balance $ 2,318 $ 625 $ 33 $ 380 $ 404 $ 3,760 Charge-offs (683) (25) (306) (245) (1,259) Recoveries Provision for loan losses 416 (360) (8) 162 479 689 Ending balance $ 2,051 $ 240 $ 25 $ 236 $ 638 $ 3,190 Ending balance: individually evaluated for impairment $ 599 $ 23 $ $ 4 $ 178 $ 804 Ending balance: collectively evaluated for impairment $ 1,452 $ 217 $ 25 $ 232 $ 460 $ 2,386 Loan Receivables: Ending balance $ 607,807 $ 84,075 $ 18,555 $ 21,383 $ 51,432 $ 783,252 Ending balance: individually evaluated for impairment $ 9,861 $ 1,830 $ 143 $ 220 $ 1,621 $ 13,675 Ending balance: collectively evaluated for impairment $ 597,946 $ 82,245 $ 18,412 $ 21,163 $ 49,811 $ 769,577 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Banking and Thrift [Abstract] | |
Deposit Liabilities Disclosure [Table Text Block] | Deposits consist of the following major classifications: March 31, 2016 December 31, 2015 Weighted Weighted Average Average Amount Interest Rate Amount Interest Rate (Dollars in thousands) NOW and other demand deposit accounts $ 454,843 0.13 % $ 457,488 0.13 % Passbook savings and club accounts 179,350 0.20 % 174,640 0.20 % Subtotal 634,193 632,128 Certificates with original maturities: Within one year 28,085 0.30 % 29,341 0.30 % One to three years 133,103 1.03 % 127,813 1.03 % Three years and beyond 22,924 1.56 % 22,751 1.56 % Total certificates 184,112 179,905 Total $ 818,305 $ 812,033 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The calculated basic and dilutive EPS are as follows: Three Months Ended March 31, 2016 2015 (Dollars in thousands, except per share data) Numerator Net Income $ 1,756 $ 1,713 Denominators: Basic average shares outstanding 6,127,162 5,985,347 Effect of dilutive common stock equivalents 108,609 109,830 Diluted average shares outstanding 6,235,771 6,095,177 Earnings per share: Basic $ 0.29 $ 0.29 Diluted $ 0.28 $ 0.28 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | A summary of the status of the Company’s stock options under the Equity Plans as of March 31, 2016 and 2015 and changes during the three months ended March 31, 2016 and 2015 are presented below: Three Months Ended Three Months Ended Number Weighted Number Weighted Outstanding at the beginning of the period 380,407 $ 11.46 674,391 $ 12.15 Granted Exercised 8,620 11.24 28,668 12.97 Forfeited 2,160 13.56 Outstanding at the end of the period 369,627 $ 11.45 645,723 $ 12.11 Exercisable at the end of the period 317,273 $ 11.10 515,964 $ 12.07 Stock options vested or expected to vest (1) 285,546 $ 11.10 464,368 $ 12.07 (1) Includes vested shares and nonvested shares after a forfeiture rate, which is based upon historical data, is applied. |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | The following table summarizes all stock options outstanding under the Equity Plans as of March 31, 2016: Options Outstanding Date Issued Number of Weighted Average Weighted Average November 21, 2006 14,506 $ 14.78 0.6 years November 20, 2007 17,274 $ 11.32 1.6 years August 18, 2010 202,959 $ 10.21 4.4 years March 15, 2011 13,600 $ 12.06 5.0 years August 17, 2011 43,998 $ 11.53 5.4 years November 19, 2012 14,100 $ 13.10 6.6 years November 19, 2013 63,190 $ 14.14 7.6 years Total 369,627 $ 11.45 4.9 years |
Schedule of Nonvested Share Activity [Table Text Block] | Summary of Non-vested Stock Award Activity: Three Months ended Three Months ended Number of Weighted avg Number of Weighted avg Outstanding at the beginning of period 26,610 $ 14.06 54,950 $ 10.74 Issued Forfeited Vested 990 $ 12.06 990 $ 12.06 Outstanding at the end of the period 25,620 $ 14.14 53,960 $ 12.73 |
STOCKHOLDERS' EQUITY (Tables)
STOCKHOLDERS' EQUITY (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | A summary of the changes in components of Accumulated Other Comprehensive Income for the three months ended March 31, 2016 and 2015 are presented below: Unrealized Loss on Post Accumulated (Dollars in thousands) Beginning balance - 01/01/2016 $ (1,255) $ (133) $ (1,388) Current period change 696 3 699 Tax benefit (282) - (282) Ending balance 03/31/2016 $ (841) $ (130) $ (971) Unrealized Loss on Post Accumulated (Dollars in thousands) Beginning balance - 01/01/2015 $ (1,282) $ (169) $ (1,451) Current period change 644 5 649 Tax benefit (257) - (257) Ending balance 03/31/2015 $ (895) $ (164) $ (1,059) |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following tables presents assets that are measured at fair value on a recurring basis by major product category and fair value hierarchy as of March 31, 2016 and December 31, 2015: March 31, 2016 Category Used for Fair Value Measurement Assets: Level 1 Level 2 Level 3 (Dollars in thousands) Securities available for sale: U.S. government sponsored entity mortgage-backed securities $ $ 100,041 $ U.S. Treasury and federal agencies 33 Corporate securities 6,646 Equity securities 41 Totals $ 41 $ 106,720 $ December 31, 2015 Category Used for Fair Value Measurement Assets: Level 1 Level 2 Level 3 (Dollars in thousands) Securities available for sale: U.S. government sponsored entity mortgage-backed securities $ $ 92,982 $ U.S. Treasury and federal agencies 10,040 Corporate securities 8,844 Equity securities 42 Totals $ 42 $ 111,866 $ |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Summary of Non-Recurring Fair Value Measurements Total Category Used for Fair Value (Losses) Measurement Gains Total Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2016 Assets: Impaired loans $ 3,642 $ - $ 539 $ 3,103 $ (25) Real estate owned 788 - 678 110 (46) March 31, 2015 Assets: Impaired loans $ 5,263 $ - $ 3,321 $ 1,942 $ (66) Real estate owned 195 - 195 - (306) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table summarizes these results: Category Used For Fair Value March 31, 2016 Carrying Amount Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 93,554 $ 93,554 $ $ Investment securities: Held to maturity 864 919 Available for sale 106,761 41 106,720 Loans receivable, net 792,784 811,123 Federal Home Loan Bank stock 5,864 5,864 Liabilities: NOW and other demand deposit accounts 454,843 445,681 Passbook savings and club accounts 179,350 173,355 Certificates 184,112 185,087 Advances from Federal Home Loan Bank 105,000 112,447 Category Used For Fair Value December 31, 2015 Carrying Amount Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 87,710 $ 87,710 $ $ Investment securities: Held to maturity 1,084 1,137 Available for sale 111,908 42 111,866 Loans receivable, net 783,948 793,597 Federal Home Loan Bank stock 5,864 5,864 Liabilities: NOW and other demand deposit accounts 457,488 476,186 Passbook savings and club accounts 174,640 183,352 Certificates 179,905 180,624 Advances from Federal Home Loan Bank 105,000 111,315 |
REAL ESTATE OWNED (Tables)
REAL ESTATE OWNED (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Real Estate [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | Summary of Real Estate Owned (“REO”): 2016 2015 Residential Commercial Residential Commercial Property Property Total Property Property Total (Dollars in thousands) (Dollars in thousands) Balance, January 1, $ 1,773 $ 41 $ 1,814 $ 609 $ 41 $ 650 Transfers into REO 110 678 788 192 195 387 Sales of REO (344) - (344) (429) - (429) Balance, March 31, $ 1,539 $ 719 $ 2,258 $ 372 $ 236 $ 608 |
INVESTMENT SECURITIES (Details)
INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Held to Maturity | ||
Held to Maturity, Amortized Cost | $ 864 | $ 1,084 |
Held to Maturity, Gross Unrealized Gain | 55 | 53 |
Held to Maturity, Gross Unrealized Loss | 0 | 0 |
Held to Maturity, Estimated Fair Value | 919 | 1,137 |
Available for Sale | ||
Available for Sale, Amortized Cost | 108,102 | 113,944 |
Available for Sale, Gross Unrealized Gain | 418 | 295 |
Available for Sale, Gross Unrealized Loss | (1,759) | (2,331) |
Available for Sale, Estimated Fair Value | 106,761 | 111,908 |
US treasury and government sponsored entity mortgage-backed securities [Member] | ||
Held to Maturity | ||
Held to Maturity, Amortized Cost | 489 | 507 |
Held to Maturity, Gross Unrealized Gain | 55 | 53 |
Held to Maturity, Gross Unrealized Loss | 0 | 0 |
Held to Maturity, Estimated Fair Value | 544 | 560 |
Available for Sale | ||
Available for Sale, Amortized Cost | 100,396 | 94,248 |
Available for Sale, Gross Unrealized Gain | 363 | 223 |
Available for Sale, Gross Unrealized Loss | (718) | (1,489) |
Available for Sale, Estimated Fair Value | 100,041 | 92,982 |
Corporate [Member] | ||
Available for Sale | ||
Available for Sale, Amortized Cost | 7,670 | 9,660 |
Available for Sale, Gross Unrealized Gain | 17 | 26 |
Available for Sale, Gross Unrealized Loss | (1,041) | (842) |
Available for Sale, Estimated Fair Value | 6,646 | 8,844 |
U.S. Treasury and federal agencies [Member] | ||
Available for Sale | ||
Available for Sale, Amortized Cost | 33 | 10,033 |
Available for Sale, Gross Unrealized Gain | 0 | 7 |
Available for Sale, Gross Unrealized Loss | 0 | 0 |
Available for Sale, Estimated Fair Value | 33 | 10,040 |
Equity Securities [Member] | ||
Available for Sale | ||
Available for Sale, Amortized Cost | 3 | 3 |
Available for Sale, Gross Unrealized Gain | 38 | 39 |
Available for Sale, Gross Unrealized Loss | 0 | 0 |
Available for Sale, Estimated Fair Value | 41 | 42 |
Debt Securities - Municipal [Member] | ||
Held to Maturity | ||
Held to Maturity, Amortized Cost | 375 | 577 |
Held to Maturity, Gross Unrealized Gain | 0 | 0 |
Held to Maturity, Gross Unrealized Loss | 0 | 0 |
Held to Maturity, Estimated Fair Value | $ 375 | $ 577 |
INVESTMENT SECURITIES (Details
INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | $ 14,943 | $ 20,704 |
Less Than 12 Months, Gross Unrealized Loss | (22) | (217) |
12 Months or Longer, Estimated Fair Value | 52,078 | 54,664 |
12 Months or Longer, Gross Unrealized Loss | (1,737) | (2,114) |
Estimated Fair Value, Total | 67,021 | 75,368 |
Gross Unrealizd Loss, Total | (1,759) | (2,331) |
Corporate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | 0 | 0 |
Less Than 12 Months, Gross Unrealized Loss | 0 | 0 |
12 Months or Longer, Estimated Fair Value | 2,645 | 2,843 |
12 Months or Longer, Gross Unrealized Loss | (1,041) | (842) |
Estimated Fair Value, Total | 2,645 | 2,843 |
Gross Unrealizd Loss, Total | (1,041) | (842) |
US Treasury and government sponsored entity mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | 14,943 | 20,704 |
Less Than 12 Months, Gross Unrealized Loss | (22) | (217) |
12 Months or Longer, Estimated Fair Value | 49,433 | 51,821 |
12 Months or Longer, Gross Unrealized Loss | (696) | (1,272) |
Estimated Fair Value, Total | 64,376 | 72,525 |
Gross Unrealizd Loss, Total | $ (718) | $ (1,489) |
INVESTMENT SECURITIES (Detail28
INVESTMENT SECURITIES (Details 2) $ in Thousands | Mar. 31, 2016USD ($) |
Schedule of Held-to-maturity Securities [Line Items] | |
Held to Maturity, Amortized Cost, Due within 1 year | $ 375 |
Held to Maturity, Estimated Fair Value, Due within 1 year | 375 |
Held to Maturity, Amortized Cost, Due after 1 year through 5 years | 0 |
Held to Maturity, Estimated Fair Value, Due after 1 year through 5 years | 0 |
Held to Maturity, Amortized Cost, Due after 5 years through 10 years | 0 |
Held to Maturity, Estimated Fair Value, Due after 5 years through 10 years | 0 |
Held to Maturity, Amortized Cost, Due after 10 years | 0 |
Held to Maturity, Estimated Fair Value, Due after 10 years | 0 |
Held to Maturity, Amortized Cost, Total | 375 |
Available for Sale Securities, Amortized Cost, Due within 1 year | 3,983 |
Available for Sale Securities, Estimated Fair Value, Due within 1 year | 4,000 |
Available for Sale Securities, Amortized Cost, Due after 1 year through 5 years | 33 |
Available for Sale Securities, Estimated Fair Value, Due after 1 year through 5 years | 33 |
Available for Sale Securities, Amortized Cost, Due after 5 years through 10 years | 0 |
Available for Sale Securities, Estimated Fair Value, Due after 5 years through 10 years | 0 |
Available for Sale Securities, Amortized Cost, Due after 10 years | 3,687 |
Available for Sale Securities, Estimated Fair Value, Due after 10 years | 2,645 |
Available for Sale Securities, Amortized Cost, Total | 7,703 |
Available for Sale Securities, Estimated Fair Value, Total | $ 6,678 |
INVESTMENT SECURITIES (Detail29
INVESTMENT SECURITIES (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Continuous Unrealized Loss, Percentage Amortized Cost | 28.30% | |
Available-for-sale Equity Securities, Amortized Cost Basis | $ 3 | |
Trading Securities, Fair Value Disclosure | 41 | |
Mortgage-backed Securities, Amortized Cost | 100,900 | |
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 100,600 | |
Available-for-sale Securities Pledged as Collateral | $ 104,000 | $ 97,900 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Continuous Unrealized Loss, Percentage Amortized Cost | 1.40% |
LOANS RECEIVABLE - NET (Details
LOANS RECEIVABLE - NET (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Real estate - mortgage: | ||
Total real estate-mortgage | $ 698,400 | $ 691,882 |
Real estate - construction: | ||
Total real estate - construction | 23,065 | 18,555 |
Commercial | 20,727 | 21,383 |
Consumer: | ||
Total consumer loans | 49,797 | 51,432 |
Total loans | 791,989 | 783,252 |
Net deferred loan cost | 4,015 | 3,886 |
Allowance for loan losses | (3,220) | (3,190) |
Net total loans | 792,784 | 783,948 |
Home Equity [Member] | ||
Consumer: | ||
Total consumer loans | 49,515 | 51,001 |
One To Four Family Residential [Member] | ||
Real estate - mortgage: | ||
Total real estate-mortgage | 613,761 | 607,807 |
Consumer: | ||
Total loans | 613,761 | 607,807 |
Commercial and Multi Family [Member] | ||
Real estate - mortgage: | ||
Total real estate-mortgage | 84,639 | 84,075 |
Consumer: | ||
Total loans | 84,639 | 84,075 |
Residential [Member] | ||
Real estate - construction: | ||
Total real estate - construction | 17,755 | 14,960 |
Commercial Loan [Member] | ||
Real estate - construction: | ||
Total real estate - construction | 5,310 | 3,595 |
Consumer: | ||
Total loans | 20,727 | 21,383 |
Other Consumer Loans [Member] | ||
Consumer: | ||
Total consumer loans | $ 282 | $ 431 |
LOANS RECEIVABLE - NET (Detai31
LOANS RECEIVABLE - NET (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance, beginning of year | $ 3,190 | $ 3,760 |
Provision for loan loss | 152 | 153 |
Charge-offs | (122) | (529) |
Recoveries | 0 | 0 |
Balance, end of year | $ 3,220 | $ 3,384 |
LOANS RECEIVABLE - NET (Detai32
LOANS RECEIVABLE - NET (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 4,105 | $ 4,962 |
Troubled debt restructuring, non-accrual | 559 | 708 |
Total non-performing loans | 4,664 | 5,670 |
Real estate owned | 2,258 | 1,814 |
Total non-performing assets | 6,922 | 7,484 |
One To Four Family Residential [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 2,753 | 2,597 |
Commercial and Multi Family [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 926 | 1,580 |
Construction [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 0 | 143 |
Commercial Loan [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 41 | 41 |
Consumer Loan [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 385 | $ 601 |
LOANS RECEIVABLE - NET (Detai33
LOANS RECEIVABLE - NET (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Contractual Receivable Amount, Beginning Balance | $ 38,621 | $ 44,216 |
Contractual Receivable Amount, Principal reductions | (845) | (1,325) |
Contractual Receivable Amount, Charge-offs, net | (501) | (62) |
Contractual Receivable Amount, Accretion of loan discount (premium) | 0 | 0 |
Contractual Receivable Amount, Transfer between nonaccretable and accretable yield | 0 | 0 |
Contractual Receivable Amount, Ending Balance | 37,275 | 42,829 |
Nonaccretable (Yield) / Premium, Beginning Balance | (2,423) | (2,540) |
Nonaccretable (Yield) / Premium, Principal reductions | 0 | 0 |
Nonaccretable (Yield) / Premium, Charge-offs, net | 501 | 62 |
Nonaccretable (Yield) / Premium, Accretion of loan discount (premium) | 0 | 0 |
Nonaccretable (Yield) / Transfer between nonaccretable and accretable yield | 0 | 0 |
Nonaccretable (Yield) / Premium, Ending Balance | (1,922) | (2,478) |
Accretable (Yield) / Premuim, Beginning Balance | 426 | 542 |
Accretable (Yield) / Premium, Principal Reductions | 0 | 0 |
Accretable (Yield) / Premium, Charge-offs, net | 0 | 0 |
Accretable (Yield) / Premium, Accretion of loan discount (premium) | (27) | (29) |
Accretable (Yield) / Transfer between nonaccretable and accretable yield | 0 | 0 |
Accretable (Yield) / Premuim, Ending Balance | 399 | 513 |
Carrying Amount, Beginning Balance | 36,624 | 42,218 |
Carrying Amount, Principal Reductions | (845) | (1,325) |
Carrying Amount, Charge-offs, net | 0 | 0 |
Carrying Amount, Accretion of loan discount (premium) | (27) | (29) |
Carrying Amount, Transfer between nonaccretable and accretable yield | 0 | 0 |
Carrying Amount, Ending Balance | $ 35,752 | $ 40,864 |
LOANS RECEIVABLE - NET (Detai34
LOANS RECEIVABLE - NET (Details 4) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Real estate | ||
Total Past Due | $ 5,648 | $ 6,930 |
Current | 786,341 | 776,322 |
Total Loan Receivables | 791,989 | 783,252 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 1,049 | 1,576 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 124 | 21 |
Financing Receivables, Greater than 90 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 4,475 | 5,333 |
One To Four family residential [Member] | ||
Real estate | ||
Total Past Due | 4,085 | 4,451 |
Current | 609,676 | 603,356 |
Total Loan Receivables | 613,761 | 607,807 |
One To Four family residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 962 | 1,483 |
One To Four family residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 0 |
One To Four family residential [Member] | Financing Receivables, Greater than 90 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 3,123 | 2,968 |
Commercial and multi-family [Member] | ||
Real estate | ||
Total Past Due | 926 | 1,580 |
Current | 83,713 | 82,495 |
Total Loan Receivables | 84,639 | 84,075 |
Commercial and multi-family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 0 |
Commercial and multi-family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 0 |
Commercial and multi-family [Member] | Financing Receivables, Greater than 90 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 926 | 1,580 |
Construction [Member] | ||
Real estate | ||
Total Past Due | 0 | 143 |
Current | 23,065 | 18,412 |
Total Loan Receivables | 23,065 | 18,555 |
Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, Greater than 90 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 143 |
Commercial Loan [Member] | ||
Real estate | ||
Total Past Due | 41 | 41 |
Current | 20,686 | 21,342 |
Total Loan Receivables | 20,727 | 21,383 |
Commercial Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 0 |
Commercial Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 0 | 0 |
Commercial Loan [Member] | Financing Receivables, Greater than 90 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 41 | 41 |
Consumer Loan [Member] | ||
Real estate | ||
Total Past Due | 596 | 715 |
Current | 49,201 | 50,717 |
Total Loan Receivables | 49,797 | 51,432 |
Consumer Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 87 | 93 |
Consumer Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | 124 | 21 |
Consumer Loan [Member] | Financing Receivables, Greater than 90 Days Past Due [Member] | ||
Real estate | ||
Total Past Due | $ 385 | $ 601 |
LOANS RECEIVABLE - NET (Detai35
LOANS RECEIVABLE - NET (Details 5) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
One To Four Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, With no related allowance recorded, Recorded Investment | $ 5,420 | $ 6,103 |
Impaired Financing Receivable, With no related allowance recorded, Unpaid Principal Balance | 5,588 | 6,320 |
Impaired Financing Receivable, With no related allowance recorded, Related Allowance | 0 | 0 |
Impaired Financing Receivable, With no related allowance recorded, Average Recorded Investment | 143 | 153 |
Impaired Financing Receivable, With an allowance recorded, Recorded Investment | 3,459 | 3,758 |
Impaired Financing Receivable, With an allowance recorded, Unpaid Principal Balance | 3,539 | 3,868 |
Impaired Financing Receivable, With an allowance recorded, Related Allowance | 624 | 599 |
Impaired Financing Receivable, With an allowance recorded, Average Recorded Investment | 288 | 268 |
Recorded Investment | 8,879 | 9,861 |
Unpaid Principal Balance | 9,127 | 10,188 |
Related Allowance | 624 | 599 |
Average Recorded Investment | 178 | 183 |
Commercial and Multi Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, With no related allowance recorded, Recorded Investment | 704 | 1,545 |
Impaired Financing Receivable, With no related allowance recorded, Unpaid Principal Balance | 704 | 1,545 |
Impaired Financing Receivable, With no related allowance recorded, Related Allowance | 0 | 0 |
Impaired Financing Receivable, With no related allowance recorded, Average Recorded Investment | 176 | 257 |
Impaired Financing Receivable, With an allowance recorded, Recorded Investment | 472 | 285 |
Impaired Financing Receivable, With an allowance recorded, Unpaid Principal Balance | 497 | 310 |
Impaired Financing Receivable, With an allowance recorded, Related Allowance | 103 | 23 |
Impaired Financing Receivable, With an allowance recorded, Average Recorded Investment | 236 | 285 |
Recorded Investment | 1,176 | 1,830 |
Unpaid Principal Balance | 1,201 | 1,855 |
Related Allowance | 103 | 23 |
Average Recorded Investment | 196 | 261 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, With no related allowance recorded, Recorded Investment | 143 | 143 |
Impaired Financing Receivable, With no related allowance recorded, Unpaid Principal Balance | 143 | 143 |
Impaired Financing Receivable, With no related allowance recorded, Related Allowance | 0 | 0 |
Impaired Financing Receivable, With no related allowance recorded, Average Recorded Investment | 143 | 143 |
Impaired Financing Receivable, With an allowance recorded, Recorded Investment | 0 | 0 |
Impaired Financing Receivable, With an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Impaired Financing Receivable, With an allowance recorded, Related Allowance | 0 | 0 |
Impaired Financing Receivable, With an allowance recorded, Average Recorded Investment | 0 | 0 |
Recorded Investment | 143 | 143 |
Unpaid Principal Balance | 143 | 143 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 143 | 143 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, With no related allowance recorded, Recorded Investment | 41 | 41 |
Impaired Financing Receivable, With no related allowance recorded, Unpaid Principal Balance | 41 | 41 |
Impaired Financing Receivable, With no related allowance recorded, Related Allowance | 0 | 0 |
Impaired Financing Receivable, With no related allowance recorded, Average Recorded Investment | 41 | 41 |
Impaired Financing Receivable, With an allowance recorded, Recorded Investment | 174 | 179 |
Impaired Financing Receivable, With an allowance recorded, Unpaid Principal Balance | 174 | 179 |
Impaired Financing Receivable, With an allowance recorded, Related Allowance | 4 | 4 |
Impaired Financing Receivable, With an allowance recorded, Average Recorded Investment | 174 | 179 |
Recorded Investment | 215 | 220 |
Unpaid Principal Balance | 215 | 220 |
Related Allowance | 4 | 4 |
Average Recorded Investment | 107 | 110 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, With no related allowance recorded, Recorded Investment | 903 | 1,187 |
Impaired Financing Receivable, With no related allowance recorded, Unpaid Principal Balance | 903 | 1,187 |
Impaired Financing Receivable, With no related allowance recorded, Related Allowance | 0 | 0 |
Impaired Financing Receivable, With no related allowance recorded, Average Recorded Investment | 56 | 66 |
Impaired Financing Receivable, With an allowance recorded, Recorded Investment | 324 | 434 |
Impaired Financing Receivable, With an allowance recorded, Unpaid Principal Balance | 446 | 479 |
Impaired Financing Receivable, With an allowance recorded, Related Allowance | 56 | 179 |
Impaired Financing Receivable, With an allowance recorded, Average Recorded Investment | 65 | 72 |
Recorded Investment | 1,227 | 1,621 |
Unpaid Principal Balance | 1,349 | 1,666 |
Related Allowance | 56 | 179 |
Average Recorded Investment | $ 58 | $ 68 |
LOANS RECEIVABLE - NET (Detai36
LOANS RECEIVABLE - NET (Details 6) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding Recorded Investment, Number of Contracts | 20 | 20 |
Outstanding Recorded Investment, Pre-Modification | $ 4,297 | $ 4,428 |
Outstanding Recorded Investment, Post-Modification | $ 4,297 | $ 4,428 |
One To Four Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding Recorded Investment, Number of Contracts | 10 | 10 |
Outstanding Recorded Investment, Pre-Modification | $ 3,256 | $ 3,378 |
Outstanding Recorded Investment, Post-Modification | $ 3,256 | $ 3,378 |
Commercial Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding Recorded Investment, Number of Contracts | 2 | 2 |
Outstanding Recorded Investment, Pre-Modification | $ 250 | $ 250 |
Outstanding Recorded Investment, Post-Modification | $ 250 | $ 250 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding Recorded Investment, Number of Contracts | 7 | 7 |
Outstanding Recorded Investment, Pre-Modification | $ 617 | $ 621 |
Outstanding Recorded Investment, Post-Modification | $ 617 | $ 621 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding Recorded Investment, Number of Contracts | 1 | 1 |
Outstanding Recorded Investment, Pre-Modification | $ 174 | $ 179 |
Outstanding Recorded Investment, Post-Modification | $ 174 | $ 179 |
LOANS RECEIVABLE - NET (Detai37
LOANS RECEIVABLE - NET (Details 7) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
One To Four Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | $ 10,117 | $ 11,098 |
One To Four Family Residential [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 2,123 | 3,182 |
One To Four Family Residential [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 7,994 | 7,916 |
One To Four Family Residential [Member] | Doubtful and Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 0 | 0 |
Commercial and Multi Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 3,990 | 4,310 |
Commercial and Multi Family [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 1,104 | 321 |
Commercial and Multi Family [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 2,886 | 3,989 |
Commercial and Multi Family [Member] | Doubtful and Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 0 | 0 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 143 | 143 |
Construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 0 | 0 |
Construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 143 | 143 |
Construction [Member] | Doubtful and Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 0 | 0 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 552 | 557 |
Commercial Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 0 | 0 |
Commercial Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 552 | 557 |
Commercial Loan [Member] | Doubtful and Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 0 | 0 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 1,653 | 2,079 |
Consumer Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 728 | 807 |
Consumer Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | 925 | 1,272 |
Consumer Loan [Member] | Doubtful and Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Classified loans by class of loans | $ 0 | $ 0 |
LOANS RECEIVABLE - NET (Detai38
LOANS RECEIVABLE - NET (Details 8) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | $ 791,989 | $ 783,252 |
One To Four Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 613,761 | 607,807 |
One To Four Family Residential [Member] | Performing Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 611,008 | 605,210 |
One To Four Family Residential [Member] | Nonperforming Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 2,753 | 2,597 |
Commercial and Multi Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 84,639 | 84,075 |
Commercial and Multi Family [Member] | Performing Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 83,713 | 82,495 |
Commercial and Multi Family [Member] | Nonperforming Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 726 | 1,580 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 23,065 | 18,555 |
Construction [Member] | Performing Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 23,065 | 18,412 |
Construction [Member] | Nonperforming Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 0 | 143 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 20,727 | 21,383 |
Commercial Loan [Member] | Performing Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 20,686 | 21,342 |
Commercial Loan [Member] | Nonperforming Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 41 | 41 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 49,797 | 51,432 |
Consumer Loan [Member] | Performing Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | 49,412 | 50,831 |
Consumer Loan [Member] | Nonperforming Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Credit risk profile of loans | $ 385 | $ 601 |
LOANS RECEIVABLE - NET (Detai39
LOANS RECEIVABLE - NET (Details 9) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Allowance for credit losses: | ||
Balance, beginning of year | $ 3,190 | $ 3,760 |
Charge-offs | (122) | (1,259) |
Recoveries | 0 | 0 |
Provision for loan losses | 152 | 689 |
Balance, end of year | 3,220 | 3,190 |
Ending balance: individually evaluated for impairment | 787 | 804 |
Ending balance: collectively evaluated for impariment | 2,433 | 2,386 |
Loan Receivables: | ||
Ending balance | 791,989 | 783,252 |
Ending balance: individually evaluated for impairment | 11,640 | 13,675 |
Ending balance: collectively evaluated for impariment | 780,349 | 769,577 |
One To Four Family Residential [Member] | ||
Allowance for credit losses: | ||
Balance, beginning of year | 2,051 | 2,318 |
Charge-offs | (46) | (683) |
Recoveries | 0 | 0 |
Provision for loan losses | 56 | 416 |
Balance, end of year | 2,061 | 2,051 |
Ending balance: individually evaluated for impairment | 624 | 599 |
Ending balance: collectively evaluated for impariment | 1,437 | 1,452 |
Loan Receivables: | ||
Ending balance | 613,761 | 607,807 |
Ending balance: individually evaluated for impairment | 8,879 | 9,861 |
Ending balance: collectively evaluated for impariment | 604,882 | 597,946 |
Commercial and Multi Family [Member] | ||
Allowance for credit losses: | ||
Balance, beginning of year | 240 | 625 |
Charge-offs | 0 | (25) |
Recoveries | 0 | 0 |
Provision for loan losses | 98 | (360) |
Balance, end of year | 338 | 240 |
Ending balance: individually evaluated for impairment | 103 | 23 |
Ending balance: collectively evaluated for impariment | 235 | 217 |
Loan Receivables: | ||
Ending balance | 84,639 | 84,075 |
Ending balance: individually evaluated for impairment | 1,176 | 1,830 |
Ending balance: collectively evaluated for impariment | 83,463 | 82,245 |
Construction [Member] | ||
Allowance for credit losses: | ||
Balance, beginning of year | 25 | 33 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for loan losses | 8 | (8) |
Balance, end of year | 33 | 25 |
Ending balance: individually evaluated for impairment | 0 | 0 |
Ending balance: collectively evaluated for impariment | 33 | 25 |
Loan Receivables: | ||
Ending balance | 23,065 | 18,555 |
Ending balance: individually evaluated for impairment | 143 | 143 |
Ending balance: collectively evaluated for impariment | 22,922 | 18,412 |
Commercial Loan [Member] | ||
Allowance for credit losses: | ||
Balance, beginning of year | 236 | 380 |
Charge-offs | 0 | (306) |
Recoveries | 0 | 0 |
Provision for loan losses | 119 | 162 |
Balance, end of year | 355 | 236 |
Ending balance: individually evaluated for impairment | 4 | 4 |
Ending balance: collectively evaluated for impariment | 351 | 232 |
Loan Receivables: | ||
Ending balance | 20,727 | 21,383 |
Ending balance: individually evaluated for impairment | 215 | 220 |
Ending balance: collectively evaluated for impariment | 20,512 | 21,163 |
Consumer Loan [Member] | ||
Allowance for credit losses: | ||
Balance, beginning of year | 638 | 404 |
Charge-offs | (76) | (245) |
Recoveries | 0 | 0 |
Provision for loan losses | (129) | 479 |
Balance, end of year | 433 | 638 |
Ending balance: individually evaluated for impairment | 56 | 178 |
Ending balance: collectively evaluated for impariment | 377 | 460 |
Loan Receivables: | ||
Ending balance | 49,797 | 51,432 |
Ending balance: individually evaluated for impairment | 1,227 | 1,621 |
Ending balance: collectively evaluated for impariment | $ 48,570 | $ 49,811 |
LOANS RECEIVABLE - NET (Detai40
LOANS RECEIVABLE - NET (Details Textual) $ in Thousands | Mar. 31, 2016USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Troubled Debt Restructuring, Carrying Value | $ 4,300 |
Loans and Leases Receivable, Impaired, Nonperforming, Nonaccrual of Interest | 559 |
Troubled Debt Restructuring, Reserved | $ 37 |
DEPOSITS (Details)
DEPOSITS (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Deposits [Line Items] | ||
NOW and other demand deposit accounts | $ 454,843 | $ 457,488 |
Passbook savings and club accounts | 179,350 | 174,640 |
Subtotal | 634,193 | 632,128 |
Certificates with original maturities: | ||
Within one year | 28,085 | 29,341 |
One to three years | 133,103 | 127,813 |
Three years and beyond | 22,924 | 22,751 |
Total certificates | 184,112 | 179,905 |
Total | $ 818,305 | $ 812,033 |
Weighted Average Interest Rate, NOW and other demand deposit accounts | 0.13% | 0.13% |
Weighted Average Interest Rate, Passbook savings and club accounts | 0.20% | 0.20% |
Weighted Average Interest Rate, Certificates with original maturities: | ||
Weighted Average Interest Rate, Within one year | 0.30% | 0.30% |
Weighted Average Interest Rate, One to three years | 1.03% | 1.03% |
Weighted Average Interest Rate, Three years and beyond | 1.56% | 1.56% |
DEPOSITS (Details Textual)
DEPOSITS (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Deposits [Line Items] | ||
Time Deposits, $100 thousand or more | $ 72,900 | $ 70,600 |
Cash, Uninsured Amount | 250 | |
Municipal Demand Deposits, $100 thousand or more | $ 187,700 | $ 194,600 |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earning Per Share [Line Items] | ||
Numerator - Net Income | $ 1,756 | $ 1,713 |
Denominators: | ||
Basic average shares outstanding (in shares) | 6,127,162 | 5,985,347 |
Effect of dilutive common stock equivalents (in shares) | 108,609 | 109,830 |
Diluted average shares outstanding (in shares) | 6,235,771 | 6,095,177 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.29 | $ 0.29 |
Diluted (in dollars per share) | $ 0.28 | $ 0.28 |
EARNINGS PER SHARE (Details Tex
EARNINGS PER SHARE (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 280,979 | 575,142 |
Weighted Average Number Of Non Vested Shares Outstanding Diluted | 88,648 | 53,960 |
STOCK-BASED COMPENSATION (Detai
STOCK-BASED COMPENSATION (Details) - $ / shares | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares, Outstanding at the beginning of the period (in shares) | 380,407 | 674,391 | |
Number of shares, Granted (in shares) | 0 | 0 | |
Number of shares, Exercised (in shares) | 8,620 | 28,668 | |
Number of shares, Forfeited (in shares) | 2,160 | 0 | |
Number of shares, Outstanding at the end of the period (in shares) | 369,627 | 645,723 | |
Number of shares, Exercisable at the end of the period (in shares) | 317,273 | 515,964 | |
Number of shares, Stock options vested or expected to vest (in shares) | [1] | 285,546 | 464,368 |
Weighted average exercise price, Outstanding at the beginning of the period (in dollars per share) | $ 11.46 | $ 12.15 | |
Weighted average exercise price, Granted (in dollars per share) | 0 | 0 | |
Weighted average exercise price, Exercised (in dollars per share) | 11.24 | 12.97 | |
Weighted average exercise price, Forfeited (in dollars per share) | 13.56 | 0 | |
Weighted average exercise price, Outstanding at the end of the period (in dollars per share) | 11.45 | 12.11 | |
Weighted average exercise price, Exercisable at the end of the period (in dollars per share) | 11.10 | 12.07 | |
Weighted average exercise price, Stock options vested or expected to vest (in dollars per share) | [1] | $ 11.10 | $ 12.07 |
[1] | Includes vested shares and nonvested shares after a forfeiture rate, which is based upon historical data, is applied. |
STOCK-BASED COMPENSATION (Det46
STOCK-BASED COMPENSATION (Details 1) - $ / shares | 3 Months Ended | |||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 369,627 | 380,407 | 645,723 | 674,391 |
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 11.45 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 4 years 10 months 24 days | |||
Date Of Issued November 21 2006 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 14,506 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 14.78 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 7 months 6 days | |||
Date Of Issued November 20 2007 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 17,274 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 11.32 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 1 year 7 months 6 days | |||
Date Of Issued August 18 2010 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 202,959 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 10.21 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 4 years 4 months 24 days | |||
Date Of Issued March 15 2011 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 13,600 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 12.06 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 5 years | |||
Date Of Issued August 17 2011 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 43,998 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 11.53 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 5 years 4 months 24 days | |||
Date Of Issued November 19 2012 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 14,100 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 13.10 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 6 years 7 months 6 days | |||
Date of Issued November 19 2013 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares (in shares) | 63,190 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 14.14 | |||
Options Outstanding, Weighted Average Remaining Contractual Life | 7 years 7 months 6 days |
STOCK-BASED COMPENSATION (Det47
STOCK-BASED COMPENSATION (Details 2) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares, Issued (in shares) | 0 | 0 |
Non vested Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares, Beginning of period (in shares) | 26,610 | 54,950 |
Number of shares, Issued (in shares) | 0 | 0 |
Number of shares, Forfeited (in shares) | 0 | 0 |
Number of shares, Vested (in shares) | 990 | 990 |
Number of shares, End of period (in shares) | 25,620 | 53,960 |
Weighted average grant date fair value, Beginning of period (in dollars per share) | $ 14.06 | $ 10.74 |
Weighted average grant date fair value, Issued (in doallrs per share) | 0 | 0 |
Weighted average grant date fair value, Forfeited (in dollars per share) | 0 | 0 |
Weighted average grant date fair value, Vested (in dollars per share) | 12.06 | 12.06 |
Weighted average grant date fair value, End of period (in dollars per share) | $ 14.14 | $ 12.73 |
STOCK-BASED COMPENSATION (Det48
STOCK-BASED COMPENSATION (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition | $ 45 | $ 46 |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Total Unrecognized Compensation Cost | 208 | |
Allocated Share-based Compensation Expense | 33 | $ 81 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 317 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | |
Employee Service Share Based Compensation Total Compensation Cost Not Yet Recognized Period For Recognition | 1 year 4 months 24 days |
INCOME TAXES (Details Textual)
INCOME TAXES (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Income Taxes [Line Items] | ||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Charitable Contributions, Percent | 33.30% | 32.70% |
Increase (Decrease) in Deferred Income Taxes | $ 878 | $ 833 |
STOCKHOLDERS' EQUITY (Details)
STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Unrealized Gain (Loss) on Available for Sale Securities, Beginning balance | $ (1,255) | $ (1,282) |
Unrealized Gain (Loss) on Available for Sale Securities, Current period change | 696 | 644 |
Unrealized Gain (Loss) on Available for Sale Securities, Tax benefit | (282) | (257) |
Unrealized Gain (Loss) on Available for Sale Securities, Ending Balance | (841) | (895) |
Loss on Post Retirement Life Benefit, Beginning balance | (133) | (169) |
Loss on Post Retirement Life Benefit, Current period change | 3 | 5 |
Loss on Post Retirement Life Benefit, Tax benefit | 0 | 0 |
Loss on Post Retirement Life Benefit, Ending Balance | (130) | (164) |
Accumulated Other Comprehensive Income, Beginning balance | (1,387) | (1,451) |
Accumulated Other Comprehensive Income, Current period change | 699 | 649 |
Accumulated Other Comprehensive Income, Tax benefit | (282) | (257) |
Accumulated Other Comprehensive Income, Ending Balance | $ (971) | $ (1,059) |
STOCKHOLDERS' EQUITY (Details T
STOCKHOLDERS' EQUITY (Details Textual) | 3 Months Ended |
Mar. 31, 2016$ / shares | |
Board of Directors Chairman [Member] | |
Equity, Class of Treasury Stock [Line Items] | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.06 |
FAIR VALUE MEASUREMENTS (Detail
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | $ 106,761 | $ 111,908 |
US Government Sponsored Entity Mortgage-backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 100,041 | 92,982 |
Corporate securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 6,646 | 8,844 |
Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 41 | 42 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 41 | 42 |
Fair Value, Inputs, Level 1 [Member] | US Government Sponsored Entity Mortgage-backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Treasury and Federal Agencies [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Corporate securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 41 | 42 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 106,720 | 111,866 |
Fair Value, Inputs, Level 2 [Member] | US Government Sponsored Entity Mortgage-backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 100,041 | 92,982 |
Fair Value, Inputs, Level 2 [Member] | US Treasury and Federal Agencies [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 33 | 10,040 |
Fair Value, Inputs, Level 2 [Member] | Corporate securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 6,646 | 8,844 |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Government Sponsored Entity Mortgage-backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Treasury and Federal Agencies [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corporate securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available For Sale Securities Fair Value | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS (Deta53
FAIR VALUE MEASUREMENTS (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Assets: | ||
Impaired loans | $ 3,642 | $ 5,263 |
Real estate owned | 788 | 195 |
Impaired loans, (Losses) Gains | (25) | (66) |
Real estate owned, (Losses) Gains | (46) | (306) |
Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Real estate owned | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Impaired loans | 539 | 3,321 |
Real estate owned | 678 | 195 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Impaired loans | 3,103 | 1,942 |
Real estate owned | $ 110 | $ 0 |
FAIR VALUE MEASUREMENTS (Deta54
FAIR VALUE MEASUREMENTS (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||||
Cash and cash equivalents, Carrying Amount | $ 93,554 | $ 87,710 | $ 86,464 | $ 80,307 |
Investment securities, Carrying Amount | ||||
Held to maturity, Carrying Amount | 864 | 1,084 | ||
Available for sale, Carrying Amount | 106,761 | 111,908 | ||
Loans receivable, net, Carrying Amount | 792,784 | 783,948 | ||
Federal Home Loan Bank stock, Carrying Amount | 5,864 | 5,864 | ||
LIABILITIES: | ||||
NOW and other demand deposit accounts, Carrying Amount | 454,843 | 457,488 | ||
Passbook savings and club accounts, Carrying Amount | 179,350 | 174,640 | ||
Certificates, Carrying Amount | 184,112 | 179,905 | ||
Advances from Federal Home Loan Bank, Carrying Amount | 105,000 | 105,000 | ||
Investment securities, Estimated Fair Value | ||||
Held to maturity, Fair Value | 919 | 1,137 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Investment securities, Carrying Amount | ||||
Available for sale, Carrying Amount | 41 | 42 | ||
Assets, Estimated Fair Value | ||||
Cash and cash equivalents, Fair Value | 93,554 | 87,710 | ||
Investment securities, Estimated Fair Value | ||||
Held to maturity, Fair Value | 0 | 0 | ||
Available for sale, Fair Value | 41 | 42 | ||
Loans receivable, net, Fair Value | 0 | 0 | ||
Federal Home Loan Bank stock, Fair Value | 0 | 0 | ||
Liabilities, Estimated Fair Value | ||||
NOW and other demand deposit accounts, Fair Value | 0 | 0 | ||
Passbook savings and club accounts, Fair Value | 0 | 0 | ||
Certificates, Fair Value | 0 | 0 | ||
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Investment securities, Carrying Amount | ||||
Available for sale, Carrying Amount | 106,720 | 111,866 | ||
Assets, Estimated Fair Value | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Investment securities, Estimated Fair Value | ||||
Held to maturity, Fair Value | 919 | 1,137 | ||
Available for sale, Fair Value | 106,720 | 111,866 | ||
Loans receivable, net, Fair Value | 811,123 | 793,597 | ||
Federal Home Loan Bank stock, Fair Value | 5,864 | 5,864 | ||
Liabilities, Estimated Fair Value | ||||
NOW and other demand deposit accounts, Fair Value | 445,681 | 476,186 | ||
Passbook savings and club accounts, Fair Value | 173,355 | 183,352 | ||
Certificates, Fair Value | 185,087 | 180,624 | ||
Advances from Federal Home Loan Bank, Fair Value | 112,447 | 111,315 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Investment securities, Carrying Amount | ||||
Available for sale, Carrying Amount | 0 | 0 | ||
Assets, Estimated Fair Value | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Investment securities, Estimated Fair Value | ||||
Held to maturity, Fair Value | 0 | 0 | ||
Available for sale, Fair Value | 0 | 0 | ||
Loans receivable, net, Fair Value | 0 | 0 | ||
Federal Home Loan Bank stock, Fair Value | 0 | 0 | ||
Liabilities, Estimated Fair Value | ||||
NOW and other demand deposit accounts, Fair Value | 0 | 0 | ||
Passbook savings and club accounts, Fair Value | 0 | 0 | ||
Certificates, Fair Value | 0 | 0 | ||
Advances from Federal Home Loan Bank, Fair Value | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS (Deta55
FAIR VALUE MEASUREMENTS (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value of Loans Remeasured | $ 3,600 | $ 5,300 |
Prior to Remeasurement of Loans | 3,700 | 5,300 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Properties Prior to Remeasurement of Loans | 834 | |
Fair Value Remeasurement Gain Loss On Impaired Loan | 25 | 66 |
Fair Value Remeasurement Gain Loss On Real Estate Owned | $ 788 | $ 46 |
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Goodwill And Intangible Assets [Line Items] | ||
Goodwill | $ 4,630 | $ 4,630 |
Intangible Assets, Net (Excluding Goodwill) | 416 | 440 |
Core Deposits [Member] | ||
Goodwill And Intangible Assets [Line Items] | ||
Intangible Assets, Net (Excluding Goodwill) | $ 416 | $ 440 |
Finite-Lived Intangible Assets, Remaining Amortization Period | 15 years |
REAL ESTATE OWNED (Details)
REAL ESTATE OWNED (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Real Estate Properties [Line Items] | ||
Balance, January 1, | $ 1,814 | $ 650 |
Transfers into REO | 788 | 387 |
Sales of REO | (344) | (429) |
Balance, March 31, | 2,258 | 608 |
Residential Property [Member] | ||
Real Estate Properties [Line Items] | ||
Balance, January 1, | 1,773 | 609 |
Transfers into REO | 110 | 192 |
Sales of REO | (344) | (429) |
Balance, March 31, | 1,539 | 372 |
Commercial Property [Member] | ||
Real Estate Properties [Line Items] | ||
Balance, January 1, | 41 | 41 |
Transfers into REO | 678 | 195 |
Sales of REO | 0 | 0 |
Balance, March 31, | $ 719 | $ 236 |