Entegra Financial (ENFC) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 05, 2015
Document And Entity Information
Entity Registrant Name	Entegra Financial Corp.
Entity Central Index Key	1,522,327
Document Type	10-Q
Trading Symbol	ENFC
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		6,546,375
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 8,015	$ 7,860
Interest-earning deposits	34,395	51,122
Cash and cash equivalents	42,410	58,982
Investments - available for sale	229,606	219,859
Investments - held to maturity (fair value of $39,748 and $30,890 at September 30, 2015 and December 31, 2014, respectively)	38,582	29,285
Other investments, at cost	8,069	4,908
Loans held for sale	4,771	10,761
Loans receivable	601,539	540,479
Allowance for loan losses	(9,633)	(11,072)
Fixed assets, net	15,282	13,004
Real estate owned	5,379	4,425
Interest receivable	3,366	2,925
Bank owned life insurance	20,748	20,417
Net deferred tax asset	$ 18,097	2,089
Real estate held for investment		2,489
Loan servicing rights	$ 2,318	2,187
Other assets	3,787	2,910
Total assets	984,321	903,648
Liabilities:
Deposits	683,073	703,117
Federal Home Loan Bank advances	135,500	60,000
Junior subordinated notes	14,433	$ 14,433
Other borrowings	2,450
Post employment benefits	10,076	$ 9,759
Accrued interest payable	205	323
Other liabilities	7,749	8,697
Total liabilities	$ 853,486	$ 796,329
Commitments and contingencies (Note 13)
Shareholders' Equity:
Preferred stock - no par value, 10,000,000 shares authorized; none issued and outstanding
Common stock - no par value, 50,000,000 shares authorized; 6,546,375 shares issued and outstanding as of September 30, 2015 and December 31, 2014
Additional paid in capital	$ 63,651	$ 63,651
Retained earnings	67,822	45,937
Accumulated other comprehensive loss	(638)	(2,269)
Total shareholders' equity	130,835	107,319
Total liabilities and shareholders' equity	$ 984,321	$ 903,648

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Investment - held to maturity at fair value	$ 39,748	$ 30,890
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)
Preferred stock, shares outstanding (in shares)
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	6,546,375	6,546,375
Common stock, shares outstanding (in shares)	6,546,375	6,546,375

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest income:
Interest and fees on loans	$ 6,824	$ 6,677	$ 19,941	$ 21,022
Interest on tax exempt loans	40	17	98	50
Taxable securities	1,345	1,024	3,859	2,976
Tax-exempt securities	104	85	258	270
Interest-earning deposits	13	21	59	49
Other	75	89	182	136
Total interest and dividend income	8,401	7,913	24,397	24,503
Interest expense:
Deposits	1,014	1,362	3,372	4,051
Federal Home Loan Bank advances	203	178	591	526
Junior subordinated notes	115	$ 207	342	$ 382
Other borrowings	28		80
Total interest expense	1,360	$ 1,747	4,385	$ 4,959
Net interest income	$ 7,041	6,166	20,012	19,544
Provision for loan losses		16	(1,500)	27
Net interest income after provision for loan losses	$ 7,041	6,150	21,512	19,517
Noninterest income:
Servicing income, net	128	66	233	492
Mortgage banking	284	145	624	571
Gain on sale of SBA loans	467	15	681	89
Gain on sale of investments, net	$ 35	$ 273	322	652
Other than temporary impairment on cost method investment			(3)	(76)
Service charges on deposit accounts	$ 291	$ 299	906	888
Interchange fees	339	295	939	836
Bank owned life insurance	115	115	343	341
Other	164	208	371	520
Total noninterest income	1,823	1,416	4,416	4,313
Noninterest expenses:
Compensation and employee benefits	3,527	2,865	11,007	8,727
Net occupancy	$ 734	$ 655	2,167	$ 1,964
Federal Home Loan Bank prepayment penalties			1,762
Federal deposit insurance	$ 179	$ 275	742	$ 971
Professional and advisory	275	149	786	529
Data processing	310	272	872	774
Net cost of operation of real estate owned	171	590	503	2,034
Other	1,018	771	3,098	2,327
Total noninterest expenses	6,214	5,577	20,937	17,326
Income before taxes	2,650	1,989	4,991	6,504
Income tax expense (benefit)	485	107	(16,894)	1,863
Net income	$ 2,165	$ 1,882	$ 21,885	$ 4,641
Earnings per share - basic and diluted (in dollars per share)	$ 0.33	$ 0.29	$ 3.34	$ 0.71
Average shares outstanding - basic and diluted (in shares)	6,546,375	6,546,375	6,546,375	6,546,375

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 2,165	$ 1,882	$ 21,885	$ 4,641
Other comprehensive income (loss):
Change in unrealized holding gains and losses on securities available for sale	2,172	(505)	2,020	3,939
Reclassification adjustment for securities gains realized in net income	(35)	(273)	(322)	(652)
Amortization of unrealized loss on securities transferred to held to maturity	163	50	705	150
Change in deferred tax valuation allowance attributable to unrealized gains and losses on investment securities available for sale	95	(278)	149	1,315
Other comprehensive income (loss), before tax	2,395	(1,006)	2,552	4,752
Income tax effect related to items of other comprehensive income (loss)	(867)	278	(921)	(1,315)
Other comprehensive income (loss), after tax	1,528	(728)	1,631	3,437
Comprehensive income	$ 3,693	$ 1,154	$ 23,516	$ 8,078

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning Balance at Dec. 31, 2013			$ 39,994	$ (7,476)	$ 32,518
Beginning Balance (in shares) at Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			$ 4,641		4,641
Other comprehensive income, net of tax				$ 3,437	3,437
Issuance of common stock		$ 65,464			65,464
Issuance of common stock (in shares)
Common stock issuance costs		(1,731)			(1,731)
Ending Balance at Sep. 30, 2014		63,733	$ 44,635	$ (4,039)	104,329
Ending Balance (in shares) at Sep. 30, 2014
Beginning Balance at Dec. 31, 2014		$ 63,651	45,937	$ (2,269)	107,319
Beginning Balance (in shares) at Dec. 31, 2014	6,546,375
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			$ 21,885		21,885
Other comprehensive income, net of tax				$ 1,631	1,631
Ending Balance at Sep. 30, 2015		$ 63,651	$ 67,822	$ (638)	$ 130,835
Ending Balance (in shares) at Sep. 30, 2015	6,546,375

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 21,885	$ 4,641
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and leasehold amortization	744	652
Security amortization, net	1,536	817
Provision for loan losses	(1,500)	27
Provision for real estate owned	250	1,508
Deferred income tax expense (benefit)	(16,744)	1,713
Net increase (decrease) in deferred loan fees	(182)	302
Gain on sales of securities available for sale	(322)	(652)
Other than temporary impairment on cost method investment	3	76
Income on bank owned life insurance, net	(331)	(389)
Mortgage banking income, net	(624)	(571)
Gain on sale of SBA loans	(681)	(89)
Net realized (gain) loss on sale of real estate owned	(67)	49
Loans originated for sale	(23,229)	(22,228)
Proceeds from sale of loans originated for sale	30,524	16,113
Net change in operating assets and liabilities:
Interest receivable	(441)	(334)
Loan servicing rights	(131)	(181)
Other assets	(938)	(440)
Postemployment benefits	317	(349)
Accrued interest payable	(118)	244
Other liabilities	1,324	863
Net cash provided by operating activities	11,275	1,772
Activity for investment securities:
Purchases	(98,117)	(72,408)
Maturities/calls and principal repayments	46,492	19,600
Sales	33,848	18,833
Net increase in loans	(40,579)	(10,930)
Purchased loans	(22,394)
Proceeds from sale of real estate owned	1,213	3,157
Real estate owned capitalized costs	(51)	(59)
Purchase of fixed assets	(2,984)	$ (885)
Disposal of real estate held for investment	2,430
Purchase of other investments, at cost	(3,311)	$ (562)
Redemptions of other investments, at cost	150	209
Net cash used in investing activities	(83,303)	(43,045)
Cash flows from financing activities:
Net increase (decrease) in deposits	(20,947)	26,447
Net increase in escrow deposits	903	$ 870
Proceeds from FHLB advances	170,600
Repayment of FHLB advances	$ (95,100)
Proceeds from sale of common stock		$ 63,733
Net cash provided by financing activities	$ 55,456	91,050
Increase (decrease) in cash and cash equivalents	(16,572)	49,777
Cash and cash equivalents, beginning of period	58,982	34,316
Cash and cash equivalents, end of period	42,410	84,093
Cash paid during the year for:
Interest on deposits and other borrowings	4,503	4,715
Noncash investing and financing activities:
Real estate acquired in satisfaction of mortgage loans	3,030	1,516
Loans originated for disposition of real estate owned	$ 810	1,249
Transfer of investment securities available for sale to held to maturity		$ 4,399
Purchased loans and investments to be settled	$ 4,913

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	NOTE 1. ORGANIZATION AND BASIS OF PRESENTATION Organization Entegra Financial Corp. (the “Company”) was incorporated on May 31, 2011 and became the holding company for Entegra Bank (the “Bank”) on September 30, 2014 upon the completion of Macon Bancorp’s merger with and into the Company, pursuant to which Macon Bancorp converted from the mutual to stock form of organization. The Company’s primary operation is its investment in the Bank. The Company also owns 100% of the common stock of Macon Capital Trust I (the “Trust”), a Delaware statutory trust formed in 2003 to facilitate the issuance of trust preferred securities. The Bank is a North Carolina state-chartered savings bank and has a wholly owned subsidiary, Macon Services, Inc., which was inactive as of September 30, 2015. The consolidated financials are presented in these financial statements. The Bank operates as a community-focused retail bank, originating primarily real estate based mortgage, consumer and commercial loans and accepting deposits from consumers and small businesses. Estimates The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change, in the near term, relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with the determination of the allowance for loan losses and the valuation of foreclosed real estate, management obtains independent appraisals for significant properties. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company, the Bank, and its wholly owned subsidiary. The accounts of the Trust are not consolidated with the Company. In consolidation all significant intercompany accounts and transactions have been eliminated. Reclassification Certain amounts in the prior years’ financial statements may have been reclassified to conform to the current year’s presentation. The reclassifications had no significant effect on our results of operations or financial condition as previously reported. Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K, filed with the SEC on March 30, 2015. In the opinion of management, these interim financial statements present fairly, in all material respects, the Company’s consolidated financial position and results of operations for each of the interim periods presented. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period. Subsequent Events Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet including the estimates inherent in the process of preparing financial statements. Unrecognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. The Company has reviewed events occurring through the issuance date of the Consolidated Financial Statements and no subsequent events have occurred requiring accrual or disclosure in these financial statements other than those included in this Quarterly Report on Form 10-Q. Recent Accounting Standards Updates In January 2014, the Financial Accounting Standards Board (“FASB”) amended the Receivables topic of the Accounting Standards Codification. The amendments are intended to resolve diversity in practice with respect to when a creditor should reclassify a collateralized consumer mortgage loan to real estate owned. In addition, the amendments require a creditor to reclassify a collateralized consumer mortgage loan to REO upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying its interest in the real estate collateral to the creditor to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. As an emerging growth company, the amendments will be effective for the Company for annual periods beginning after December 15, 2014, and interim periods within annual periods beginning after December 15, 2015. For non-emerging growth companies, the amendments are effective for annual periods, and interim periods within those annual periods beginning after December 15, 2014. Early implementation of the guidance is permitted. In implementing this guidance, assets that are reclassified from real estate to loans are measured at the carrying value of the real estate at the date of adoption. Assets reclassified from loans to real estate are measured at the lower of the net amount of the loan receivable or the fair value of the real estate less costs to sell at the date of adoption. The Company has adopted the amendments and the related disclosures are included in Note 6. The amendments did not have a material effect on the Company’s financial statements. In January 2015, the FASB issued guidance to eliminate from U.S. GAAP the concept of an extraordinary item, which is an event or transaction that is both (1) unusual in nature and (2) infrequently occurring. Under the new guidance, an entity will no longer (1) segregate an extraordinary item from the results of ordinary operations; (2) separately present an extraordinary item on its income statement, net of tax, after income from continuing operations; or (3) disclose income taxes and earnings-per-share data applicable to an extraordinary item. The amendments will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company will apply the guidance prospectively. The Company does not expect these amendments to have a material effect on its financial statements. In February 2015, the FASB issued guidance which amends the consolidation requirements and significantly changes the consolidation analysis required under U.S. GAAP. Although the amendments are expected to result in the deconsolidation of many entities, the Company will need to reevaluate all its previous consolidation conclusions. As an emerging growth company, the amendments will be effective for the Company for fiscal years beginning after December 15, 2015, and interim periods beginning after December 15, 2017. For non-emerging growth companies, the amendments will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption of the guidance is permitted (including during an interim period), provided that the guidance is applied as of the beginning of the annual period containing the adoption date. The Company does not expect these amendments to have a material effect on its financial statements. In April 2015, the FASB issued guidance that will require debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This update affects disclosures related to debt issuance costs but does not affect existing recognition and measurement guidance for these items. As an emerging growth company, the guidance will be effective for the Company for fiscal years beginning after December 15, 2015, and interim periods beginning after December 15, 2016. For non-emerging growth companies, the guidance will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption of the guidance is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In August 2015, the FASB deferred the effective date of ASU 2014-09, Revenue from Contracts with Customers. As a result of the deferral, the guidance in ASU 2014-09 will be effective for the Company for annual periods beginning after December 15, 2018, and interim periods within annual reporting periods beginning after December 15, 2019. For non-emerging growth companies, the guidance will be effective for reporting periods beginning after December 15, 2017. The Company will apply the guidance using a full retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements. In August 2015, the FASB issued amendments to the Interest topic of the Accounting Standards Codification to clarify the SEC staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements. The amendments were effective upon issuance. The Company does not expect these amendments to have a material effect on its financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

STOCK CONVERSION AND CHANGE IN

STOCK CONVERSION AND CHANGE IN CORPORATE FORM	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
STOCK CONVERSION AND CHANGE IN CORPORATE FORM	NOTE 2. STOCK CONVERSION AND CHANGE IN CORPORATE FORM On January 23, 2014, the Board of Directors of Macon Bancorp adopted a Plan of Conversion (the “Plan of Conversion”) which provided for the reorganization of Macon Bancorp from a North Carolina chartered mutual holding company into a stock holding company, Entegra Financial Corp., incorporated under the laws of the State of North Carolina (the “Conversion”). In connection with the Conversion, the Company sold 6,546,375 shares of common stock at an offering price of $10.00 per share and received gross sales proceeds of $65.5 million. The Company recognized $1.7 million in reorganization and stock issuance costs as of September 30, 2014 which were deducted from the gross sales proceeds. Of the $63.7 million in net sales proceeds, $44.6 million, or approximately 70%, was contributed to the capital of the Bank upon completion of the Conversion on September 30, 2014. Common Stock Offering Summary (Dollars in thousands) Gross proceeds $ 65,464 Issuance costs (1,813 ) Net proceeds $ 63,651 Contributed to bank subsidiary $ 44,581 Retained by the Company 19,070 $ 63,651 On September 30, 2014, liquidation accounts were established by the Company and the Bank for the benefit of eligible depositors of the Bank as defined in the Plan of Conversion. Each eligible depositor will have a pro rata interest in the liquidation accounts for each of his or her deposit accounts based upon the proportion that the balance of each such account bears to the balance of all deposit accounts of the Bank as of the dates specified in the Plan of Conversion. The liquidation accounts will be maintained for the benefit of eligible depositors who continue to maintain their deposit accounts in the Bank. The liquidation accounts will be reduced annually to the extent that eligible depositors reduce their qualifying deposits. In the unlikely event of a complete liquidation of the Bank or the Company or both, and only in such event, eligible depositors who continue to maintain accounts will be entitled to receive a distribution from the liquidation accounts before any distribution may be made with respect to common stock. Neither the Company nor the Bank may declare or pay a cash dividend if the effect thereof would cause its equity to be reduced below either the amount required for the liquidation accounts or the regulatory capital requirements imposed by the Company’s or the Bank’s regulators.

BRANCH ACQUISITION

BRANCH ACQUISITION	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
BRANCH ACQUISITION	NOTE 3. BRANCH ACQUISITION On August 13, 2015, the Bank entered into an agreement with Arthur State Bank to acquire two bank branches in Anderson and Chesnee, South Carolina. The two branches have approximately $42 million in deposits and $9 million in loans. The Bank will pay a deposit premium of approximately 2.87% as part of the transaction which is expected to close in December 2015.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	NOTE 4. INVESTMENT SECURITIES The amortized cost and estimated fair values of securities available for sale as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 28,068 $ 413 $ — $ 28,481 Municipal securities 35,610 361 (106 ) 35,865 Mortgage-backed securities 162,513 1,081 (474 ) 163,120 U.S. Treasury securities 1,500 36 — 1,536 Mutual funds 599 5 — 604 $ 228,290 $ 1,896 $ (580 ) $ 229,606 December 31, 2014 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 39,540 $ 65 $ (123 ) $ 39,482 Municipal securities 25,483 225 (150 ) 25,558 Mortgage-backed securities 153,128 643 (1,053 ) 152,718 U.S. Treasury securities 1,500 10 — 1,510 Mutual funds 590 1 — 591 $ 220,241 $ 944 $ (1,326 ) $ 219,859 The amortized cost and estimated fair values of securities held to maturity (“HTM”) as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 18,595 $ 1,097 $ — $ 19,692 Municipal securities 12,468 157 (103 ) 12,522 Mortgage-backed securities 2,817 — — 2,817 U.S. Treasury securities 1,002 1 — 1,003 Corporate debt securities 3,700 14 — 3,714 $ 38,582 $ 1,269 $ (103 ) $ 39,748 December 31, 2014 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 23,193 $ 1,420 $ (5 ) $ 24,608 Municipal securities 4,392 190 — 4,582 Trust preferred securities 1,000 — — 1,000 Corporate debt securities 700 — — 700 $ 29,285 $ 1,610 $ (5 ) $ 30,890 During the nine months ended September 30, 2014, the Company transferred the following investment securities from available for sale to held to maturity: At Date of Transfer During the Nine Months Ended September 30, 2014 (Dollars in thousands) Book value $ 4,473 Market value 4,399 Unrealized loss $ 74 There were no transfers of investment securities from available for sale to held to maturity during the nine months ended September 30, 2015. Information pertaining to the activity for the three and nine month periods ended September 30, 2015 and 2014 of unrealized losses related to HTM securities (before the impact of income taxes) previously recognized in accumulated other comprehensive income (“AOCI”) is summarized below: For the Three Months Ended For the Nine Months Ended September 30 September 30 (Dollars in thousands) 2015 2014 2015 2014 Beginning unrealized loss related to HTM securities previously recognized in AOCI $ 1,345 $ 1,986 $ 1,887 $ 2,012 Additions for transfers to HTM — — — 74 Amortization of unrealized losses on HTM securities previously recognized in AOCI (163 ) (50 ) (705 ) (150 ) Ending unrealized loss related to HTM securities previously recognized in AOCI $ 1,182 $ 1,936 $ 1,182 $ 1,936 Information pertaining to securities with gross unrealized losses at September 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: September 30, 2015 Less Than 12 Months More Than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Held to Maturity: Municipal securities 7,400 103 — — 7,400 103 $ 7,400 $ 103 $ — $ — $ 7,400 $ 103 Available for Sale: Municipal securities 10,646 74 947 32 11,593 106 Mortgage-backed securities 34,247 187 22,064 287 56,311 474 $ 44,893 $ 261 $ 23,011 $ 319 $ 67,904 $ 580 December 31, 2014 Less Than 12 Months More Than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Held to Maturity: U.S. government agencies $ 1,995 $ 5 $ — $ — $ 1,995 $ 5 $ 1,995 $ 5 $ — $ — $ 1,995 $ 5 Available for Sale: U.S. government agencies $ 14,472 $ 15 $ 7,893 $ 108 $ 22,365 $ 123 Municipal securities 4,306 49 8,409 101 12,715 150 Mortgage-backed securities 38,563 217 46,204 836 84,767 1,053 $ 57,341 $ 281 $ 62,506 $ 1,045 $ 119,847 $ 1,326 Information pertaining to the number of securities with unrealized losses is detailed in the table below. The Company believes all unrealized losses as of September 30, 2015 and December 31, 2014 represent temporary impairment. The unrealized losses have resulted from temporary changes in the interest rate market and not as a result of credit deterioration. We do not intend to sell and it is not likely that we will be required to sell any of the securities referenced in the table below before recovery of their amortized cost. September 30, 2015 Less Than 12 Months More Than 12 Months Total Municipal securities 34 2 36 Mortgage-backed securities 20 14 34 54 16 70 December 31, 2014 Less Than 12 Months More Than 12 Months Total U.S. government agencies 11 3 14 Municipal securities 9 19 28 Mortgage-backed securities 26 27 53 46 49 95 For the three and nine months ended September 30, 2015 and 2014 the Company had proceeds from sales of securities available for sale and their corresponding gross realized gains and losses as detailed below: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (Dollars in thousands) Gross proceeds $ 7,941 $ 3,408 $ 33,848 $ 18,833 Gross realized gains 35 301 342 680 Gross realized losses — (28 ) 20 (28 ) The Company had securities pledged against deposits and borrowings of approximately $57.5 million and $10.7 million at September 30, 2015 and December 31, 2014, respectively. The amortized cost and estimated fair value of investments in debt securities at September 30, 2015, by contractual maturity, is shown below. Mortgage-backed securities have not been scheduled because expected maturities will differ from contractual maturities when borrowers have the right to prepay the obligations. Available for Sale Amortized Cost Fair Value (Dollars in thousands) Less than 1 year $ 1,101 $ 1,105 Over 1 year through 5 years 26,597 26,961 After 5 years through 10 years 16,495 16,681 Over 10 years 21,584 21,739 65,777 66,486 Mortgage-backed securities 162,513 163,120 Total $ 228,290 $ 229,606 Held to Maturity Amortized Cost Fair Value (Dollars in thousands) Over 1 year through 5 years $ 1,002 $ 1,003 After 5 years through 10 years 9,894 9,944 Over 10 years 24,869 25,984 35,765 36,931 Mortgage-backed securities 2,817 2,817 Total $ 38,582 $ 39,748

LOANS RECEIVABLE

LOANS RECEIVABLE	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
LOANS RECEIVABLE	NOTE 5. LOANS RECEIVABLE Loans receivable as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, December 31, (Dollars in thousands) Real estate mortgage loans: One-to four-family residential $ 244,642 $ 227,209 Commercial real estate 204,543 179,435 Home equity loans and lines of credit 52,881 56,561 Residential construction 7,522 7,823 Other construction and land 52,043 50,298 Total real estate loans 561,631 521,326 Commercial and industrial 36,312 19,135 Consumer 6,085 3,200 Total commercial and consumer 42,397 22,335 Loans receivable, gross 604,028 543,661 Less: Net deferred loan fees (1,514 ) (1,695 ) Unamortized premium 451 — Unamortized discount (1,426 ) (1,487 ) Loans receivable, net $ 601,539 $ 540,479 The Bank had $123.6 million and $117.9 million of loans pledged as collateral to secure funding with the Federal Home Loan Bank of Atlanta (“FHLB”) at September 30, 2015 and December 31, 2014, respectively. The Bank also had $89.1 million and $97.7 million of loans pledged as collateral to secure funding with the Federal Reserve Bank (“FRB”) Discount Window at September 30, 2015 and December 31, 2014, respectively. During January 2014, the Bank purchased the remaining participation balance of certain commercial real estate loans from the Federal Deposit Insurance Corporation (“FDIC”). The Bank had previously purchased a 50% participation in the loans from an institution that was subsequently taken into receivership by the FDIC. At the date of purchase, the outstanding loan balance purchased was $9.3 million and the loans were purchased at a total discount of $2.6 million. The loans were not deemed to be impaired at the time of purchase. Subsequent to the transaction, $2.8 million of the participation balance purchased was repaid, resulting in the Bank recognizing approximately $0.5 million of the initial discount, in addition to recognizing $0.3 million of previously collected but deferred interest. In addition, the Bank restructured a $1.8 million loan in the second quarter of 2014 and recognized $0.2 million of the discount in interest income. During the nine months ended September 30, 2015, the Bank purchased the remaining participation balance of a commercial real estate loan from another community bank. The Bank had previously purchased a 54% participation in the loan from the participating institution. At the date of purchase, the outstanding loan balance purchased was $1.6 million and the loan was purchased at a discount of $0.5 million. The loan was not deemed to be impaired at the time of purchase. During the nine months ended September 30, 2015, the Bank purchased other externally sourced loans of which $18.4 million is included in the loan balance as of September 30, 2015. These loans were comprised of $5.3 million in commercial SBA guaranteed loans, $10.5 million in commercial and industrial participation loans, and a $2.7 million commercial real estate whole loan purchase. Included in loans receivable and other borrowings at September 30, 2015 are $2.5 million in participated loans that did not qualify for sale accounting. Interest expense on the other borrowings accrues at the same rate as the interest income recognized on the loans receivable, resulting in no effect to net income. The following tables present the activity related to the discount on purchased loans for the three and nine month periods ended September 30, 2015 and 2014: For the Three Months Ended For the Nine Months Ended September 30, September 30, (Dollars in thousands) 2015 2014 2015 2014 Discount on purchased loans, beginning of period $ 1,499 $ 1,665 $ 1,487 $ — Additional discount for new purchases — — 484 2,607 Accretion (73 ) (89 ) (250 ) (276 ) Discount applied to charge-offs — — (295 ) — Interest income recognized for repayments and restructurings — — — (755 ) Discount on purchased loans, end of period $ 1,426 $ 1,576 $ 1,426 $ 1,576

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	NOTE 6. ALLOWANCE FOR LOAN LOSSES The following tables present, by portfolio segment, the changes in the allowance for loan losses: Three Months Ended September 30, 2015 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,260 $ 2,607 $ 1,080 $ 344 $ 1,666 $ 680 $ 814 $ 9,451 Provision 272 325 37 (105 ) (292 ) (213 ) (24 ) — Charge-offs (13 ) — (22 ) — (28 ) — (16 ) (79 ) Recoveries 108 — 1 1 50 19 82 261 Ending balance $ 2,627 $ 2,932 $ 1,096 $ 240 $ 1,396 $ 486 $ 856 $ 9,633 Three Months Ended September 30, 2014 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,182 $ 2,846 $ 1,146 $ 487 $ 3,257 $ 304 $ 339 $ 11,561 Provision 65 (43 ) 215 82 (343 ) 118 (78 ) 16 Charge-offs (109 ) (3 ) (26 ) — (10 ) (3 ) (59 ) (210 ) Recoveries 165 6 5 — 113 4 112 405 Ending balance $ 3,303 $ 2,806 $ 1,340 $ 569 $ 3,017 $ 423 $ 314 $ 11,772 Nine Months Ended September 30, 2015 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,983 $ 2,717 $ 1,333 $ 510 $ 2,936 $ 308 $ 285 $ 11,072 Provision (335 ) 93 128 (273 ) (1,642 ) 150 379 (1,500 ) Charge-offs (251 ) (45 ) (391 ) — (114 ) (1 ) (36 ) (838 ) Recoveries 230 167 26 3 216 29 228 899 Ending balance $ 2,627 $ 2,932 $ 1,096 $ 240 $ 1,396 $ 486 $ 856 $ 9,633 Nine Months Ended September 30, 2014 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,693 $ 4,360 $ 1,580 $ 501 $ 3,516 $ 336 $ 265 $ 14,251 Provision 47 106 78 68 (213 ) 56 (115 ) 27 Charge-offs (625 ) (2,001 ) (357 ) — (485 ) (128 ) (122 ) (3,718 ) Recoveries 188 341 39 — 199 159 286 1,212 Ending balance $ 3,303 $ 2,806 $ 1,340 $ 569 $ 3,017 $ 423 $ 314 $ 11,772 The following tables present, by portfolio segment and reserving methodology, the allocation of the allowance for loan losses and the gross investment in loans: September 30, 2015 One-to fourFamily Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Allowance for loan losses Individually evaluated for impairment $ 536 $ 69 $ 6 $ — $ 114 $ 37 $ — $ 762 Collectively evaluated for impairment 2,091 2,863 1,090 240 1,282 449 856 8,871 $ 2,627 $ 2,932 $ 1,096 $ 240 $ 1,396 $ 486 $ 856 $ 9,633 Loans Receivable Individually evaluated for impairment $ 6,547 $ 10,107 $ 313 $ — $ 1,708 $ 320 $ — $ 18,995 Collectively evaluated for impairment 238,095 194,436 52,568 7,522 50,335 35,992 6,085 585,033 $ 244,642 $ 204,543 $ 52,881 $ 7,522 $ 52,043 $ 36,312 $ 6,085 $ 604,028 December 31, 2014 One-to fourFamily Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Allowance for loan losses Individually evaluated for impairment $ 719 $ 235 $ 14 $ — $ 705 $ 3 $ — $ 1,676 Collectively evaluated for impairment 2,264 2,482 1,319 510 2,231 305 285 9,396 $ 2,983 $ 2,717 $ 1,333 $ 510 $ 2,936 $ 308 $ 285 $ 11,072 Loans Receivable Individually evaluated for impairment $ 9,912 $ 17,828 $ 1,686 $ — $ 3,911 $ 328 $ — $ 33,665 Collectively evaluated for impairment 217,297 161,607 54,875 7,823 46,387 18,807 3,200 509,996 $ 227,209 $ 179,435 $ 56,561 $ 7,823 $ 50,298 $ 19,135 $ 3,200 $ 543,661 Portfolio Quality Indicators The Company’s portfolio grading analysis estimates the capability of the borrower to repay the contractual obligations of the loan agreements as scheduled. The Company’s internal credit risk grading system is based on experiences with similarly graded loans, industry best practices, and regulatory guidance. Credit risk grades are refreshed each quarter, at which time management analyzes the resulting information, as well as other external statistics and factors, to track loan performance. The Company’s internally assigned grades pursuant to the Board-approved lending policy are as follows: · Pass (1-5) – Acceptable loans with any identifiable weaknesses appropriately mitigated. · Special Mention (6) – Potential weakness or identifiable weakness present without appropriate mitigating factors; however, loan continues to perform satisfactorily with no material delinquency noted. This may include some deterioration in repayment capacity and/or loan-to-value of securing collateral. · Substandard (7) – Significant weakness that remains unmitigated, most likely due to diminished repayment capacity, serious delinquency, and/or marginal performance based upon restructured loan terms. · Doubtful (8) – Significant weakness that remains unmitigated and collection in full is highly questionable or improbable. · Loss (9) – Collectability is unlikely resulting in immediate charge-off. Beginning as of March 31, 2015, we no longer risk grade consumer purposed loans within all categories for which the individual loan balance is less than $417,000. These loan types provide limited credit information subsequent to origination and therefore may not be properly risk graded within our standard risk grading system. All of our consumer purposed loans are now considered ungraded and will be analyzed on a performing versus non-performing basis. The non-performing ungraded loans will be deemed substandard when determining our classified assets. Consumer purposed loans may include residential loans, home equity loans and lines of credit, residential lot loans, and other consumer loans. This change in risk grading methodology did not have any impact on our allowance for loan losses calculation. Description of segment and class risks Each of our portfolio segments and the classes within those segments are subject to risks that could have an adverse impact on the credit quality of our loan portfolio. Management has identified the most significant risks as described below which are generally similar among our segments and classes. While the list in not exhaustive, it provides a description of the risks that management has determined are the most significant. One-to four family residential We centrally underwrite each of our one-to four family residential loans using credit scoring and analytical tools consistent with the Board-approved lending policy and internal procedures based upon industry best practices and regulatory directives. Loans to be sold to secondary market investors must also adhere to investor guidelines. We also evaluate the value and marketability of that collateral. Common risks to each class of non-commercial loans, including one-to-four family residential, include risks that are not specific to individual transactions such as general economic conditions within our markets, particularly unemployment and potential declines in real estate values. Personal events such as death, disability or change in marital status also add risk to non-commercial loans. Commercial real estate Commercial mortgage loans are primarily dependent on the ability of our customers to achieve business results consistent with those projected at loan origination resulting in cash flow sufficient to service the debt. To the extent that a customer’s business results are significantly unfavorable versus the original projections, the ability for our loan to be serviced on a basis consistent with the contractual terms may be at risk. While these loans are secured by real property and possibly other business assets such as inventory or accounts receivable, it is possible that the liquidation of the collateral will not fully satisfy the obligation. Other commercial real estate loans consist primarily of loans secured by multifamily housing and agricultural loans. The primary risk associated with multifamily loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. High unemployment or generally weak economic conditions may result in our customer having to provide rental rate concessions to achieve adequate occupancy rates. The performance of agricultural loans are highly dependent on favorable weather, reasonable costs for seed and fertilizer, and the ability to successfully market the product at a profitable margin. The demand for these products is also dependent on macroeconomic conditions that are beyond the control of the borrower. Home equity and lines of credit Home equity loans are often secured by first or second liens on residential real estate, thereby making such loans particularly susceptible to declining collateral values. A substantial decline in collateral value could render our second lien position to be effectively unsecured. Additional risks include lien perfection inaccuracies and disputes with first lienholders that may further weaken our collateral position. Further, the open-end structure of these loans creates the risk that customers may draw on the lines in excess of the collateral value if there have been significant declines since origination. Residential construction and other construction and land Residential mortgage construction loans are typically secured by undeveloped or partially developed land with funds to be disbursed as home construction is completed contingent upon receipt and satisfactory review of invoices and inspections. Declines in real estate values can result in residential mortgage loan borrowers having debt levels in excess of the collateral’s current market value. Non-commercial construction and land development loans can experience delays in completion and/or cost overruns that exceed the borrower’s financial ability to complete the project. Cost overruns can result in foreclosure of partially completed collateral with unrealized value and diminished marketability. Commercial We centrally underwrite each of our commercial loans based primarily upon the customer’s ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. We strive to gain a complete understanding of our borrower’s businesses including the experience and background of the principals. To the extent that the loan is secured by collateral, which is a predominant feature of the majority of our commercial loans, or other assets including accounts receivable and inventory, we gain an understanding of the likely value of the collateral and what level of strength it brings to the loan transaction. To the extent that the principals or other parties are obligated under the note or guaranty agreements, we analyze the relative financial strength and liquidity of each guarantor. Common risks to each class of commercial loans include risks that are not specific to individual transactions such as general economic conditions within our markets, as well as risks that are specific to each transaction including volatility or seasonality of cash flows, changing demand for products and services, personal events such as death, disability or change in marital status, and reductions in the value of our collateral. Consumer The consumer loan portfolio includes loans secured by personal property such as automobiles, marketable securities, other titled recreational vehicles including boats and motorcycles, as well as unsecured consumer debt. The value of underlying collateral within this class is especially volatile due to potential rapid depreciation in values since date of loan origination in excess of principal repayment. The following tables present the recorded investment in gross loans by loan grade: September 30, 2015 Loan Grade One-to Four-Family Residential Commercial Real Estate Home Equity and Lines of Credit Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) 1 $ — $ 66 $ — $ — $ — $ 7,695 $ 11 $ 7,772 2 — 4,484 — — — 99 — 4,583 3 18,018 10,897 1,228 543 987 501 1,224 33,398 4 44,290 57,990 2,157 2,696 10,288 12,977 1,610 132,008 5 33,412 99,191 5,704 1,172 20,248 8,912 363 169,002 6 2,959 14,441 — 1,056 1,950 400 — 20,806 7 3,592 13,390 — — 2,629 476 — 20,087 $ 102,271 $ 200,459 $ 9,089 $ 5,467 $ 36,102 $ 31,060 $ 3,208 $ 387,656 Ungraded Loan Exposure: Performing $ 141,436 $ 4,084 $ 43,388 $ 2,055 $ 15,896 $ 5,252 $ 2,875 $ 214,986 Nonperforming 935 — 404 — 45 — 2 1,386 Subtotal $ 142,371 $ 4,084 $ 43,792 $ 2,055 $ 15,941 $ 5,252 $ 2,877 $ 216,372 Total $ 244,642 $ 204,543 $ 52,881 $ 7,522 $ 52,043 $ 36,312 $ 6,085 $ 604,028 December 31, 2014 Loan Grade One-to Four-Family Residential Commercial Real Estate Home Equity and Lines of Credit Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) 1 $ — $ 68 $ — $ — $ — $ 2,511 $ 20 $ 2,599 2 — — — — — 100 — 100 3 63,065 14,356 5,978 690 5,154 483 454 90,180 4 58,948 37,349 10,424 2,327 9,027 2,917 419 121,411 5 44,445 90,397 10,486 3,048 21,024 6,399 179 175,978 6 5,714 21,232 882 574 2,451 429 1 31,283 7 7,400 14,139 1,568 — 5,404 555 — 29,066 $ 179,572 $ 177,541 $ 29,338 $ 6,639 $ 43,060 $ 13,394 $ 1,073 $ 450,617 Ungraded Loan Exposure: Performing $ 46,247 $ 1,736 $ 26,864 $ 1,119 $ 7,073 $ 5,741 $ 2,125 $ 90,905 Nonperforming 1,390 158 359 65 165 — 2 2,139 Subtotal $ 47,637 $ 1,894 $ 27,223 $ 1,184 $ 7,238 $ 5,741 $ 2,127 $ 93,044 Total $ 227,209 $ 179,435 $ 56,561 $ 7,823 $ 50,298 $ 19,135 $ 3,200 $ 543,661 Delinquency Analysis of Loans by Class The following tables include an aging analysis of the recorded investment of past-due financing receivables by class. The Company does not accrue interest on loans greater than 90 days past due. September 30, 2015 30-59 Days Past Due 60-89 Days Past Due 90 Days and Over Past Due Total Past Due Current Total Loans Receivable (Dollars in thousands) One-to four-family residential $ 4,299 $ 770 $ 987 $ 6,056 $ 238,586 $ 244,642 Commercial real estate 3,187 92 596 3,875 200,668 204,543 Home equity and lines of credit 309 29 404 742 52,139 52,881 Residential construction — — — — 7,522 7,522 Other construction and land 2,070 7 75 2,152 49,891 52,043 Commercial 309 — — 309 36,003 36,312 Consumer 25 1 2 28 6,057 6,085 Total $ 10,199 $ 899 $ 2,064 $ 13,162 $ 590,866 $ 604,028 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due 90 Days and Over Past Due Total Past Due Current Total Loans Receivable (Dollars in thousands) One-to four-family residential $ 6,298 $ 448 $ 2,669 $ 9,415 $ 217,794 $ 227,209 Commercial real estate 2,136 909 1,006 4,051 175,384 179,435 Home equity and lines of credit 557 528 759 1,844 54,717 56,561 Residential construction — — 65 65 7,758 7,823 Other construction and land 1,530 964 473 2,967 47,331 50,298 Commercial — 22 — 22 19,113 19,135 Consumer 247 4 1 252 2,948 3,200 Total $ 10,768 $ 2,875 $ 4,973 $ 18,616 $ 525,045 $ 543,661 Impaired Loans The following table presents investments in loans considered to be impaired and related information on those impaired loans as of September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 Recorded Balance Unpaid Principal Balance Specific Allowance Recorded Balance Unpaid Principal Balance Specific Allowance (Dollars in thousands) Loans without a valuation allowance One-to four-family residential $ 3,907 $ 3,932 $ — $ 5,943 $ 6,096 $ — Commercial real estate 8,308 9,889 — 14,231 16,515 — Home equity and lines of credit 213 328 — 1,537 1,912 — Residential construction — — — — — — Other construction and land 671 919 — 1,901 2,579 — Commercial — — — — — — $ 13,099 $ 15,068 $ — $ 23,612 $ 27,102 $ — Loans with a valuation allowance One-to four-family residential $ 2,640 $ 2,658 $ 536 $ 3,969 $ 4,028 $ 719 Commercial real estate 1,799 1,799 69 3,597 3,745 235 Home equity and lines of credit 100 100 6 149 149 14 Residential construction — — — — — — Other construction and land 1,037 1,037 114 2,010 2,010 705 Commercial 320 320 37 328 328 3 $ 5,896 $ 5,914 $ 762 $ 10,053 $ 10,260 $ 1,676 Total One-to four-family residential $ 6,547 $ 6,590 $ 536 $ 9,912 $ 10,124 $ 719 Commercial real estate 10,107 11,688 69 17,828 20,260 235 Home equity and lines of credit 313 428 6 1,686 2,061 14 Residential construction — — — — — — Other construction and land 1,708 1,956 114 3,911 4,589 705 Commercial 320 320 37 328 328 3 $ 18,995 $ 20,982 $ 762 $ 33,665 $ 37,362 $ 1,676 The following table presents average impaired loans and interest income recognized on those impaired loans, by class segment, for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized (Dollars in thousands) (Dollars in thousands) Loans without a valuation allowance One-to four-family residential $ 3,941 $ 45 $ 4,793 $ 41 $ 4,215 $ 127 $ 4,918 $ 119 Commercial real estate 8,330 79 16,208 167 8,374 257 16,140 521 Home equity and lines of credit 213 6 1,832 13 213 7 1,891 39 Residential construction — — — — — — — — Other construction and land 674 8 4,615 58 680 22 4,748 177 Commercial — — 17 — — — 18 — $ 13,158 $ 138 $ 27,465 $ 279 $ 13,482 $ 413 $ 27,715 $ 856 Loans with a valuation allowance One-to four-family residential $ 2,648 $ 22 $ 5,214 $ 53 $ 3,190 $ 66 $ 5,242 $ 162 Commercial real estate 1,805 20 2,559 28 1,813 61 2,574 84 Home equity and lines of credit 100 1 229 3 100 3 229 9 Residential construction — — — — — — — — Other construction and land 1,043 11 1,902 24 1,843 31 1,920 71 Commercial 322 5 332 5 325 14 336 15 $ 5,918 $ 59 $ 10,236 $ 113 $ 7,271 $ 175 $ 10,301 $ 341 Total One-to four-family residential $ 6,589 $ 67 $ 10,007 $ 94 $ 7,405 $ 193 $ 10,160 $ 281 Commercial real estate 10,135 99 18,767 195 10,187 318 18,714 605 Home equity and lines of credit 313 7 2,061 16 313 10 2,120 48 Residential construction — — — — — — — — Other construction and land 1,717 19 6,517 82 2,523 53 6,668 248 Commercial 322 5 349 5 325 14 354 15 $ 19,076 $ 197 $ 37,701 $ 392 $ 20,753 $ 588 $ 38,016 $ 1,197 Nonperforming Loans The following table summarizes the balances of nonperforming loans as of September 30, 2015 and December 31, 2014. Certain loans classified as Troubled Debt Restructurings (“TDRs”) and impaired loans may be on non-accrual status even though they are not contractually delinquent. September 30, 2015 December 31, 2014 (Dollars in thousands) One-to four-family residential $ 2,823 $ 5,661 Commercial real estate 3,914 7,011 Home equity loans and lines of credit 403 1,347 Residential construction — 65 Other construction and land 392 2,679 Commercial 67 15 Consumer 2 2 Non-performing loans $ 7,601 $ 16,780 Troubled Debt Restructurings (TDR) The following tables summarize TDR loans as of the dates indicated: September 30, 2015 Performing Nonperforming Total TDR’s TDR’s TDR’s (Dollars in thousands) One-to-four family residential $ 4,418 $ — $ 4,418 Commercial real estate 6,183 2,967 9,150 Home equity and lines of credit 313 — 313 Residential construction — — — Other construction and land 1,405 259 1,664 Commercial 320 13 333 $ 12,639 $ 3,239 $ 15,878 December 31, 2014 Performing Nonperforming Total TDR’s TDR’s TDR’s (Dollars in thousands) One-to-four family residential $ 5,760 $ 715 $ 6,475 Commercial real estate 10,710 3,797 14,507 Home equity and lines of credit 443 — 443 Residential construction — — — Other construction and land 1,519 672 2,191 Commercial 328 16 344 $ 18,760 $ 5,200 $ 23,960 Loan modifications that were deemed TDRs at the time of the modification during the period presented are summarized in the tables below: Three Months Ended Nine Months Ended (Dollars in thousands) Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Forgiveness of principal: Commercial real estate — $ — $ — 1 $ 1,988 $ 1,693 — $ — $ — 1 $ 1,988 $ 1,693 Three Months Ended Nine Months Ended (Dollars in thousands) Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Below market interest rate: One-to four-family residential — $ — $ — 2 $ 409 $ 326 Commercial real estate 1 280 280 1 280 280 Home equity loans and lines of credit — — — 1 50 40 Other construction and land 1 151 151 1 151 151 2 $ 431 $ 431 5 $ 890 $ 797 Extended payment terms: Other construction and land — $ — $ — 2 $ 720 $ 596 Commercial real estate — — — 7 6,770 5,332 Commercial — — — 1 18 12 — $ — $ — 10 $ 7,508 $ 5,940 The following table summarizes TDRs that defaulted during the three and nine month periods ended September 30, 2014 and which were modified as TDRs within the previous 12 months. There were no TDRs that defaulted during the three or nine month periods ending September 30, 2015 and which were modified as TDRs within the previous 12 months. Three Months Ended Nine Months Ended Number of Loans Recorded Investment Number of Loans Recorded Investment (Dollars in thousands) Below market interest rate: One-to-four family residential — $ — 1 $ 135 Home equity and lines of credit 1 50 1 50 Other construction and land — — — — 1 $ 50 2 $ 185 Extended payment terms: Commercial real estate — $ — 1 $ 215

REAL ESTATE OWNED

REAL ESTATE OWNED	9 Months Ended
	Sep. 30, 2015
Banking and Thrift [Abstract]
REAL ESTATE OWNED	NOTE 7. REAL ESTATE OWNED The following tables summarize real estate owned and changes in the valuation allowance for real estate owned as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014. September 30, December 31, (Dollars in thousands) 2015 2014 Real estate owned, gross $ 6,928 $ 6,185 Less: Valuation allowance 1,549 1,760 Real estate owned, net $ 5,379 $ 4,425 Three Months Ended Nine Months Ended (Dollars in thousands) 2015 2014 2015 2014 Valuation allowance, beginning $ 1,558 $ 2,661 $ 1,760 $ 5,560 Provision charged to expense 80 411 171 1,508 Reduction due to disposal (89 ) (1,775 ) (382 ) (5,771 ) Valuation allowance, ending $ 1,549 $ 1,297 $ 1,549 $ 1,297 As of September 30, 2015, the Company had $0.7 million in loans secured by residential real estate properties for which formal foreclosure proceedings were in process. As of September 30, 2015, the Company had $1.4 million of residential real estate properties included in real estate owned.

DEPOSITS

DEPOSITS	9 Months Ended
	Sep. 30, 2015
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]
DEPOSITS	NOTE 8. DEPOSITS The following table summarizes deposit balances and interest expense by type of deposit as of and for the nine months ended September 30, 2015 and 2014 and the year ended December 31, 2014. As of and for the As of and for the Nine Months Ended Year Ended 2015 2014 2014 (Dollars in thousands) Balance Interest Expense Balance Interest Expense Balance Interest Expense Noninterest-bearing demand $ 100,413 $ — $ 82,381 $ — $ 86,110 $ — Interest-bearing demand 101,182 108 88,669 108 92,877 149 Money Market 170,995 425 188,141 753 178,320 983 Savings 31,468 24 28,115 27 27,591 36 Time Deposits 279,015 2,815 323,367 3,163 318,219 4,193 $ 683,073 $ 3,372 $ 710,673 $ 4,051 $ 703,117 $ 5,361

BORROWINGS

BORROWINGS	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
BORROWINGS	NOTE 9. BORROWINGS The scheduled maturities and respective weighted average rates of outstanding FHLB advances, are as follows for the dates indicated: September 30, 2015 December 31, 2014 Year of Maturity Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in thousands) 2015 $ 57,000 0.31 % $ 20,000 0.33 % 2016 55,000 0.61 % 10,000 0.84 % 2017 8,000 1.23 % 5,000 1.38 % 2018 2,000 1.25 % — — 2019 12,500 1.82 % 10,000 1.83 % 2020 1,000 1.78 % 15,000 2.79 % $ 135,500 0.65 % $ 60,000 1.37 % During the second quarter of 2015, the Company prepaid a $15.0 million FHLB advance and incurred a prepayment penalty of $1.8 million. The advance, which carried an interest rate equal to 90-day LIBOR plus 2.56% and reset quarterly, was replaced with a $15.0 million three month fixed rate advance at a rate of 0.23%.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10. INCOME TAXES During the second quarter of 2015, the Company completed an analysis of all positive and negative evidence in assessing the need to maintain the valuation allowance against its net deferred tax asset. As a result of this analysis, the Company determined that significant positive evidence existed that would support the reversal of $17.6 million of the valuation allowance including the following: · A pattern of sustained profitability, excluding non-recurring items, since the first quarter of 2014; · A 3 year cumulative profit; · Forecasted earnings sufficient to utilize all remaining net operating losses prior to expiration beginning in 2025 for North Carolina and 2032 for Federal ; · Significant improvements in asset quality; · Resolution of all remaining regulatory orders; and · A strong capital position enabling future earnings investments. As of June 30, 2015, the Company maintained an additional $1.3 million valuation allowance of which $0.5 million was reversed during the quarter ended September 30, 2015. The remaining $0.8 million in valuation allowance is expected to be reversed through a reduction in the provision for income taxes during the fourth quarter of 2015 in accordance with the intra-period tax allocation rules under GAAP. Remaining in accumulated other comprehensive income is $0.7 million in valuation allowance related to net deferred tax assets on investment securities. This valuation allowance will be recognized as tax expense on a security-by-security basis upon the sale or maturity of the individual securities. The tax expense is expected to be recognized over the remaining life of the securities of approximately 4.5 years. The components of net deferred taxes as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, December 31, 2015 2014 (Dollars in thousands) Deferred tax assets: Allowance for loan losses $ 3,622 $ 4,235 Deferred compensation and post employment benefits 3,554 3,514 Non-accrual interest 251 202 Valuation reserve for other real estate 583 673 North Carolina NOL carryover 1,017 1,404 Federal NOL carryover 11,150 12,392 Unrealized losses on securities (49 ) 867 Other 703 393 Gross deferred tax assets 20,831 23,680 Less: valuation allowance (764 ) (19,810 ) Total deferred tax assets 20,067 3,870 Deferred tax liabilities: Fixed assets 301 461 Loan servicing rights 953 813 Deferred loan costs 587 413 Prepaid expenses 129 94 Total deferred tax liabilities 1,970 1,781 Net deferred tax asset $ 18,097 $ 2,089 On July 23, 2013, North Carolina Governor Pat McCrory signed a major tax reform bill into law that lowered the North Carolina corporate income tax rate among other things. Specifically, the corporate income tax rate was reduced from 6.9% to 6% in 2014 and to 5% in 2015. The rate was to be further reduced to 4% during the 2016 tax year and to 3% for post-2016 tax years provided that specified revenue growth targets are reached. Based on state income tax revenues announced by the North Carolina Governor’s Office on July 29, 2015, the $20.2 billion revenue target for the fiscal year ended September 30, 2015 was met, resulting in a reduction of the state income tax rate to 4% effective January 1, 2016. As a result, the Company recorded a $0.4 million reduction in the net deferred tax asset as of June 30, 2015.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 11. EARNINGS PER SHARE The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock: (Dollars in thousands, except per share amounts) For the For the Numerator: Net income $ 2,165 $ 21,885 Denominator: Weighted-average common shares outstanding - basic 6,546,375 6,546,375 Effect of dilutive shares — — Weighted-average common shares outstanding - diluted 6,546,375 6,546,375 Earnings per share - basic $ 0.33 $ 3.34 Earnings per share - diluted $ 0.33 $ 3.34

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 12. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the components of accumulated other comprehensive income and changes in those components as of and for the three and nine months ended September 30, 2015 and 2014. Three Months Ended September 30, 2015 Available for Sale Securities Held to Maturity Securities Transferred from AFS Deferred Tax Valuation Allowance on AFS Total (Dollars in thousands) Balance, beginning of period $ (512 ) $ (840 ) $ (814 ) $ (2,166 ) Change in deferred tax valuation allowance attributable to net unrealized losses on investment securities available for sale — — 95 95 Change in net unrealized holding losses on securities available for sale 2,172 — — 2,172 Reclassification adjustment for net securities gains realized in net income (35 ) — — (35 ) Transfer of net unrealized loss from available for sale to held to maturity — — — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 163 — 163 Income tax benefit (807 ) (60 ) — (867 ) Balance, end of period $ 818 $ (737 ) $ (719 ) $ (638 ) Three Months Ended September 30, 2014 (Dollars in thousands) Balance, beginning of period $ (818 ) $ (1,226 ) $ (1,267 ) $ (3,311 ) Change in deferred tax valuation allowance attributable to unrealized gains on investment securities available for sale — — (278 ) (278 ) Change in unrealized holding gains on securities available for sale (505 ) — — (505 ) Reclassification adjustment for net securities gains realized in net income (273 ) — — (273 ) Transfer of net unrealized loss from available for sale to held to maturity — — — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 50 — 50 Income tax benefit 298 (20 ) — 278 Balance, end of period $ (1,298 ) $ (1,196 ) $ (1,545 ) $ (4,039 ) Nine Months Ended September 30, 2015 Available for Sale Securities Held to Maturity Securities Transferred from AFS Deferred Tax Valuation Allowance on Investment Securities Total (Dollars in thousands) Balance, beginning of period $ (236 ) $ (1,165 ) $ (868 ) $ (2,269 ) Change in deferred tax valuation allowance attributable to net unrealized losses on investment securities — — 149 149 Change in net unrealized holding losses on securities available for sale 2,020 — — 2,020 Reclassification adjustment for net securities gains realized in net income (322 ) — — (322 ) Transfer of net unrealized loss from available for sale to held to maturity — — — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 705 — 705 Income tax benefit (644 ) (277 ) — (921 ) Balance, end of period $ 818 $ (737 ) $ (719 ) $ (638 ) Nine Months Ended September 30, 2014 (Dollars in thousands) Balance, beginning of period $ (3,374 ) $ (1,242 ) $ (2,860 ) $ (7,476 ) Change in deferred tax valuation allowance attributable to unrealized gains on investment securities — — 1,315 1,315 Change in unrealized holding gains on securities available for sale 3,939 — — 3,939 Reclassification adjustment for net securities gains realized in net income (652 ) — — (652 ) Transfer of net unrealized loss from available for sale to held to maturity 74 (74 ) — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 150 — 150 Income tax benefit (1,285 ) (30 ) — (1,315 ) Balance, end of period $ (1,298 ) $ (1,196 ) $ (1,545 ) $ (4,039 ) The following table shows the line items in the Consolidated Statements of Income affected by amounts reclassified from accumulated other comprehensive income: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (Dollars in thousands) (Dollars in thousands) Gain on sale of investments, net $ 35 $ 273 $ 322 $ 652 Tax effect — — — — Impact, net of tax 35 273 322 652 Interest income - taxable securities 163 50 705 150 Tax effect — — — — Impact, net of tax 163 50 705 150 Total reclassifications, net of tax $ 198 $ 323 $ 1,027 $ 802

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 13. COMMITMENTS AND CONTINGENCIES To accommodate the financial needs of its customers, the Company makes commitments under various terms to lend funds. These commitments include revolving credit agreements, term loan commitments and short-term borrowing agreements. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held includes first and second mortgages on one-to-four family dwellings, accounts receivable, inventory, and commercial real estate. Certain lines of credit are unsecured. The following summarizes the Company’s approximate commitments to extend credit: September 30, 2015 (Dollars in thousands) Lines of credit $ 69,879 Standby letters of credit 708 $ 70,587 As of September 30, 2015, the Company had outstanding commitments to originate loans as follows: September 30, 2015 Amount Range of Rates (Dollar in thousands) Fixed $ 8,337 2.99% to 5.00% Variable 36,279 2.99% to 6.25% $ 44,616 The allowance for unfunded commitments was $0.1 million at September 30, 2015 and December 31, 2014. The Company is exposed to loss as a result of its obligation for representations and warranties on loans sold to Fannie Mae and maintained a reserve of $0.3 million as of September 30, 2015 and December 31, 2014. In the normal course of business, the Company is periodically involved in litigation. In the opinion of the Company’s management, none of this litigation is expected to have a material adverse effect on the accompanying consolidated financial statements.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	NOTE 14. FAIR VALUE DISCLOSURES We use fair value measurements when recording and disclosing certain financial assets and liabilities. Securities available-for-sale, loan servicing rights and mortgage derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record other assets at fair value on a nonrecurring basis, such as loans held for sale, impaired loans and real estate owned. Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not a forced transaction. In determining fair value, we use various valuation approaches, including market, income and cost approaches. The fair value standard establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing an asset or liability, which is developed, based on market data we have obtained from independent sources. Unobservable inputs reflect our estimate of assumptions that market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows: · Level 1: valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets. · Level 2: valuation is based upon quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by market data. · Level 3: valuation is derived from other valuation methodologies, including discounted cash flow models and similar techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in determining fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Fair value estimates are made at a specific point of time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale the Company’s entire holdings of a particular financial instrument. Because no active market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, current interest rates and prepayment trends, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in any of these assumptions used in calculating fair value also would affect significantly the estimates. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of these estimates. Following is a description of valuation methodologies used for assets and liabilities recorded at fair value on a recurring basis: Securities We obtain fair values for debt securities from a third-party pricing service, which utilizes several sources for valuing fixed-income securities. The market evaluation sources for debt securities include observable inputs rather than significant unobservable inputs and are classified as Level 2. The service provider utilizes pricing models that vary by asset class and include available trade, bid and other market information. Generally, the methodologies include broker quotes, proprietary models, vast descriptive terms and conditions databases, as well as extensive quality control programs. Included in securities are investments in an exchange traded bond fund and U.S. Treasury bonds which are valued by reference to quoted market prices and considered a Level 1 security. Loan Servicing Rights Loan servicing rights are carried at fair value as determined by a third party valuation firm. The valuation model utilizes a discounted cash flow analysis using discount rates and prepayment speed assumptions used by market participants. The Company classifies loan servicing rights fair value measurements as Level 3. Derivative Instruments Derivative instruments include interest rate lock commitments and forward sale commitments. These instruments are valued based on the change in the value of the underlying loan between the commitment date and the end of the period. The Company classifies these instruments as Level 3. Following is a description of valuation methodologies used for assets and liabilities recorded at fair value on a nonrecurring basis: Loans Held for Sale Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is based on what secondary markets are currently offering for portfolios with similar characteristics. Loans held for sale carried at fair value are classified as Level 2. Impaired Loans Impaired loans are carried at the lower of recorded investment or fair value. The fair value of collateral dependent impaired loans is estimated using the value of the collateral less selling costs if repayment is expected from liquidation of the collateral. Appraisals may be discounted based on our historical knowledge, changes in market conditions from the time of appraisal or our knowledge of the borrower and the borrower’s business. Impaired loans carried at fair value are classified as Level 3. Impaired loans measured using the present value of expected future cash flows are not deemed to be measured at fair value. Real Estate Owned Real estate owned, obtained in partial or total satisfaction of a loan is recorded at the lower of recorded investment in the loan or fair value less cost to sell. Subsequent to foreclosure, these assets are carried at the lower of the amount recorded at acquisition date or fair value less cost to sell. Accordingly, it may be necessary to record nonrecurring fair value adjustments. Fair value, when recorded, is generally based upon appraisals by approved, independent, state certified appraisers. Like impaired loans, appraisals may be discounted based on our historical knowledge, changes in market conditions from the time of appraisal or other information available to us. Real estate owned carried at fair value is classified as Level 3. In addition to financial instruments recorded at fair value in our financial statements, fair value accounting guidance requires disclosure of the fair value of all of an entity’s assets and liabilities that are considered financial instruments. The majority of our assets and liabilities are considered financial instruments. Many of these instruments lack an available trading market as characterized by a willing buyer and willing seller engaged in an exchange transaction. Also, it is our general practice and intent to hold our financial instruments to maturity and to not engage in trading or sales activities. For fair value disclosure purposes, we substantially utilize the fair value measurement criteria as required and explained above. In cases where quoted fair values are not available, we use present value methods to determine the fair value of our financial instruments. Following is a description of valuation methodologies used for the disclosure of the fair value of financial instruments not carried at fair value: Cash and Cash Equivalents The carrying amount of such instruments is deemed to be a reasonable estimate of fair value. Loans The fair value of variable rate performing loans is based on carrying values adjusted for credit risk. The fair value of fixed rate performing loans is estimated using discounted cash flow analyses, utilizing interest rates currently being offered for loans with similar terms, adjusted for credit risk. The fair value of nonperforming loans is based on their carrying values less any specific reserve. A prepayment assumption is used to estimate the portion of loans that will be repaid prior to their scheduled maturity. No adjustment has been made for the illiquidity in the market for loans as there is no active market for many of the Company’s loans on which to reasonably base this estimate. Bank Owned Life Insurance Fair values approximate net cash surrender values. Other Investments, at cost No ready market exists for this stock and it has no quoted market value. However, redemption of this stock has historically been at par value. Accordingly, the carrying amount is deemed to be a reasonable estimate of fair value. Deposits The fair values disclosed for demand deposits are equal to the amounts payable on demand at the reporting date. The fair value of certificates of deposit are estimated by discounting the amounts payable at the certificate rates using the rates currently offered for deposits of similar remaining maturities. Advances from the FHLB The fair values disclosed for fixed rate long-term borrowings are determined by discounting their contractual cash flows using current interest rates for long-term borrowings of similar remaining maturities. The carrying amounts of variable rate long-term borrowings approximate their fair values. Junior Subordinated Notes The carrying amount approximates fair value because the debt is variable rate tied to LIBOR. Accrued Interest Receivable and Payable Since these financial instruments will typically be received or paid within three months, the carrying amounts of such instruments are deemed to be a reasonable estimate of fair value. Loan Commitments Estimates of the fair value of these off-balance sheet items are not made because of the short-term nature of these arrangements and the credit standing of the counterparties. Assets and Liabilities Recorded at Fair Value on a Recurring Basis Below is a table that presents information about certain assets and liabilities measured at fair value on a recurring basis: September 30, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Securities available for sale: U.S. government agencies $ — $ 28,481 $ — $ 28,481 Municipal securities — 35,865 — 35,865 Mortgage-backed securities — 163,120 — 163,120 U.S. Treasury securities 1,536 — — 1,536 Mutual funds 604 — — 604 2,140 227,466 — 229,606 Loan servicing rights — — 2,318 2,318 Forward sales commitments — — 12 12 Interest rate lock commitments — — 78 78 Total assets $ 2,140 $ 227,466 $ 2,408 $ 232,014 December 31, 2014 Level 1 Level 2 Level 3 Total (Dollars in thousands) Securities available for sale: U.S. government agencies $ — $ 39,482 $ — $ 39,482 Municipal securities — 25,558 — 25,558 Mortgage-backed securities — 152,718 — 152,718 U.S. Treasury securities 1,510 — — 1,510 Mutual funds 591 — — 591 2,101 217,758 — 219,859 Loan servicing rights — — 2,187 2,187 Forward sales commitments — — 9 9 Interest rate lock commitments — — 52 52 Total assets $ 2,101 $ 217,758 $ 2,248 $ 222,107 The following table presents the changes in assets measured at fair value on a recurring basis for which we have utilized Level 3 inputs to determine fair value: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (Dollars in thousands) Balance at beginning of period $ 2,176 $ 2,156 $ 2,248 $ 1,888 Loan servicing right activity, included in servicing income, net Capitalization from loans sold 215 68 431 278 Fair value adjustment (55 ) (93 ) (300 ) (97 ) Mortgage derivative gains included in Other income 72 (25 ) 29 37 Balance at end of period $ 2,408 $ 2,106 $ 2,408 $ 2,106 Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis The table below presents information about certain assets and liabilities measured at fair value on a nonrecurring basis. There were no loans held for sale carried at fair value at either September 30, 2015 or December 31, 2014. September 30, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Collateral dependent impaired loans: One-to four family residential $ — $ — $ 4,276 $ 4,276 Commercial real estate — — 8,308 8,308 Home equity loans and lines of credit — — 213 213 Other construction and land — — 689 689 Real estate owned: One-to four family residential — — 1,422 1,422 Commercial real estate — — 1,034 1,034 Other construction and land — — 2,923 2,923 Total assets $ — $ — $ 18,865 $ 18,865 December 31, 2014 Level 1 Level 2 Level 3 Total (Dollars in thousands) Collateral dependent impaired loans: One-to four family residential $ — $ — $ 6,407 $ 6,407 Commercial real estate — — 14,551 14,551 Home equity loans and lines of credit — — 1,456 1,456 Other construction and land — — 2,227 2,227 Real estate owned: One-to four family residential — — 220 220 Commercial real estate — — 774 774 Other construction and land — — 3,431 3,431 Total assets $ — $ — $ 29,066 $ 29,066 There were no liabilities measured at fair value on a nonrecurring basis as of September 30, 2015 or December 31, 2014. Impaired loans totaling $5.5 million at September 30, 2015 and $9.0 million at December 31, 2014, were measured using the present value of expected future cash flows. These impaired loans were not deemed to be measured at fair value on a nonrecurring basis. The following table provides information describing the unobservable inputs used in Level 3 fair value measurements at September 30, 2015. Valuation Technique Unobservable Input General Range Impaired loans Discounted Appraisals Collateral discounts and estimated selling cost 0 – 30% Real estate owned Discounted Appraisals Collateral discounts and estimated selling cost 0 – 30% Loan servicing rights Discounted Cash Flows Prepayment speed 5 - 30% Discount rate 9 - 12% Forward sales commitments and interest rate lock commitments Change in market price of underlying loan Value of underlying loan 101 - 108% The approximate carrying and estimated fair value of financial instruments are summarized below: Fair Value Measurements at September 30, 2015 Carrying (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Assets: Cash and equivalents $ 42,410 $ 42,410 $ 42,410 $ — $ — Securities available for sale 229,606 229,606 2,140 227,466 — Securities held to maturity 38,582 39,748 — 39,748 — Loans held for sale 4,771 5,023 — 5,023 — Loans receivable, net 601,539 608,345 — — 608,345 Other investments, at cost 8,069 8,069 — 8,069 — Interest receivable 3,366 3,366 — 3,366 — Bank owned life insurance 20,748 20,748 — 20,748 — Loan servicing rights 2,318 2,318 — — 2,318 Forward sales commitments 12 12 — — 12 Interest rate lock commitments 78 78 — — 78 Liabilities: Demand deposits $ 404,058 404,058 $ — $ 404,058 $ — Time deposits 279,015 281,836 — — 281,836 Federal Home Loan Bank advances 135,500 138,367 — 138,367 — Junior subordinated debentures 14,433 14,433 — 14,433 — Accrued interest payable 205 205 — 205 — Fair Value Measurements at December 31, 2014 Carrying (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Assets: Cash and equivalents $ 58,982 $ 58,982 $ 58,982 $ — $ — Securities available for sale 219,859 219,859 2,101 217,758 — Securities held to maturity 29,285 30,890 — 30,890 — Loans held for sale 10,761 11,501 — 11,501 — Loans receivable, net 529,407 546,450 — — 546,450 Other investments, at cost 4,908 4,908 — 4,908 — Interest receivable 2,925 2,925 — 2,925 — Bank owned life insurance 20,417 20,417 — 20,417 — Loan servicing rights 2,187 2,187 — — 2,187 Forward sales commitments 9 9 — — 9 Interest rate lock commitments 52 52 — — 52 Liabilities: Demand deposits $ 384,898 $ 384,898 $ — $ 384,898 $ — Time deposits 318,219 321,491 — — 321,491 Federal Home Loan Bank advances 60,000 62,108 — 62,108 — Junior subordinated debentures 14,433 14,433 — 14,433 — Accrued interest payable 323 323 — 323 —

ORGANIZATION AND BASIS OF PRE22

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2015
Summary Of Significant Accounting Policies Policies
Organization	Organization Entegra Financial Corp. (the “Company”) was incorporated on May 31, 2011 and became the holding company for Entegra Bank (the “Bank”) on September 30, 2014 upon the completion of Macon Bancorp’s merger with and into the Company, pursuant to which Macon Bancorp converted from the mutual to stock form of organization. The Company’s primary operation is its investment in the Bank. The Company also owns 100% of the common stock of Macon Capital Trust I (the “Trust”), a Delaware statutory trust formed in 2003 to facilitate the issuance of trust preferred securities. The Bank is a North Carolina state-chartered savings bank and has a wholly owned subsidiary, Macon Services, Inc., which was inactive as of September 30, 2015. The consolidated financials are presented in these financial statements. The Bank operates as a community-focused retail bank, originating primarily real estate based mortgage, consumer and commercial loans and accepting deposits from consumers and small businesses.
Estimates	Estimates The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change, in the near term, relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with the determination of the allowance for loan losses and the valuation of foreclosed real estate, management obtains independent appraisals for significant properties
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company, the Bank, and its wholly owned subsidiary. The accounts of the Trust are not consolidated with the Company. In consolidation all significant intercompany accounts and transactions have been eliminated.
Reclassification	Reclassification Certain amounts in the prior years’ financial statements may have been reclassified to conform to the current year’s presentation. The reclassifications had no significant effect on our results of operations or financial condition as previously reported.
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K, filed with the SEC on March 30, 2015. In the opinion of management, these interim financial statements present fairly, in all material respects, the Company’s consolidated financial position and results of operations for each of the interim periods presented. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period.
Subsequent Events	Subsequent Events Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet including the estimates inherent in the process of preparing financial statements. Unrecognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. The Company has reviewed events occurring through the issuance date of the Consolidated Financial Statements and no subsequent events have occurred requiring accrual or disclosure in these financial statements other than those included in this Quarterly Report on Form 10-Q
Recently Issued Accounting Standards	Recent Accounting Standards Updates In January 2014, the Financial Accounting Standards Board (“FASB”) amended the Receivables topic of the Accounting Standards Codification. The amendments are intended to resolve diversity in practice with respect to when a creditor should reclassify a collateralized consumer mortgage loan to real estate owned. In addition, the amendments require a creditor to reclassify a collateralized consumer mortgage loan to REO upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying its interest in the real estate collateral to the creditor to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. As an emerging growth company, the amendments will be effective for the Company for annual periods beginning after December 15, 2014, and interim periods within annual periods beginning after December 15, 2015. For non-emerging growth companies, the amendments are effective for annual periods, and interim periods within those annual periods beginning after December 15, 2014. Early implementation of the guidance is permitted. In implementing this guidance, assets that are reclassified from real estate to loans are measured at the carrying value of the real estate at the date of adoption. Assets reclassified from loans to real estate are measured at the lower of the net amount of the loan receivable or the fair value of the real estate less costs to sell at the date of adoption. The Company has adopted the amendments and the related disclosures are included in Note 6. The amendments did not have a material effect on the Company’s financial statements. In January 2015, the FASB issued guidance to eliminate from U.S. GAAP the concept of an extraordinary item, which is an event or transaction that is both (1) unusual in nature and (2) infrequently occurring. Under the new guidance, an entity will no longer (1) segregate an extraordinary item from the results of ordinary operations; (2) separately present an extraordinary item on its income statement, net of tax, after income from continuing operations; or (3) disclose income taxes and earnings-per-share data applicable to an extraordinary item. The amendments will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company will apply the guidance prospectively. The Company does not expect these amendments to have a material effect on its financial statements. In February 2015, the FASB issued guidance which amends the consolidation requirements and significantly changes the consolidation analysis required under U.S. GAAP. Although the amendments are expected to result in the deconsolidation of many entities, the Company will need to reevaluate all its previous consolidation conclusions. As an emerging growth company, the amendments will be effective for the Company for fiscal years beginning after December 15, 2015, and interim periods beginning after December 15, 2017. For non-emerging growth companies, the amendments will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption of the guidance is permitted (including during an interim period), provided that the guidance is applied as of the beginning of the annual period containing the adoption date. The Company does not expect these amendments to have a material effect on its financial statements. In April 2015, the FASB issued guidance that will require debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This update affects disclosures related to debt issuance costs but does not affect existing recognition and measurement guidance for these items. As an emerging growth company, the guidance will be effective for the Company for fiscal years beginning after December 15, 2015, and interim periods beginning after December 15, 2016. For non-emerging growth companies, the guidance will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption of the guidance is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In August 2015, the FASB deferred the effective date of ASU 2014-09, Revenue from Contracts with Customers. As a result of the deferral, the guidance in ASU 2014-09 will be effective for the Company for annual periods beginning after December 15, 2018, and interim periods within annual reporting periods beginning after December 15, 2019. For non-emerging growth companies, the guidance will be effective for reporting periods beginning after December 15, 2017. The Company will apply the guidance using a full retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements. In August 2015, the FASB issued amendments to the Interest topic of the Accounting Standards Codification to clarify the SEC staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements. The amendments were effective upon issuance. The Company does not expect these amendments to have a material effect on its financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

STOCK CONVERSION AND CHANGE I23

STOCK CONVERSION AND CHANGE IN CORPORATE FORM (Tables)	9 Months Ended
	Sep. 30, 2015
Stock Conversion And Change In Corporate Form Tables
Proceeds From Common Stock Offering Summary	Common Stock Offering Summary (Dollars in thousands) Gross proceeds $ 65,464 Issuance costs (1,813 ) Net proceeds $ 63,651 Contributed to bank subsidiary $ 44,581 Retained by the Company 19,070 $ 63,651

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Investment Securities Tables
Schedule of investment securities available for sale	The amortized cost and estimated fair values of securities available for sale as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 28,068 $ 413 $ — $ 28,481 Municipal securities 35,610 361 (106 ) 35,865 Mortgage-backed securities 162,513 1,081 (474 ) 163,120 U.S. Treasury securities 1,500 36 — 1,536 Mutual funds 599 5 — 604 $ 228,290 $ 1,896 $ (580 ) $ 229,606 December 31, 2014 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 39,540 $ 65 $ (123 ) $ 39,482 Municipal securities 25,483 225 (150 ) 25,558 Mortgage-backed securities 153,128 643 (1,053 ) 152,718 U.S. Treasury securities 1,500 10 — 1,510 Mutual funds 590 1 — 591 $ 220,241 $ 944 $ (1,326 ) $ 219,859
Schedule of investment securities held to maturity	The amortized cost and estimated fair values of securities held to maturity (“HTM”) as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 18,595 $ 1,097 $ — $ 19,692 Municipal securities 12,468 157 (103 ) 12,522 Mortgage-backed securities 2,817 — — 2,817 U.S. Treasury securities 1,002 1 — 1,003 Corporate debt securities 3,700 14 — 3,714 $ 38,582 $ 1,269 $ (103 ) $ 39,748 December 31, 2014 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government agencies $ 23,193 $ 1,420 $ (5 ) $ 24,608 Municipal securities 4,392 190 — 4,582 Trust preferred securities 1,000 — — 1,000 Corporate debt securities 700 — — 700 $ 29,285 $ 1,610 $ (5 ) $ 30,890
Transfer of Investment Securities from Available for Sale to Held to Maturity	During the nine months ended September 30, 2014, the Company transferred the following investment securities from available for sale to held to maturity: At Date of Transfer During the Nine Months Ended September 30, 2014 (Dollars in thousands) Book value $ 4,473 Market value 4,399 Unrealized loss $ 74
Unrealized Losses Related to Held to Maturity Securities Previously Recognized in Other Comprehensive Income	Information pertaining to the activity for the three and nine month periods ended September 30, 2015 and 2014 of unrealized losses related to HTM securities (before the impact of income taxes) previously recognized in accumulated other comprehensive income (“AOCI”) is summarized below: For the Three Months Ended For the Nine Months Ended September 30 September 30 (Dollars in thousands) 2015 2014 2015 2014 Beginning unrealized loss related to HTM securities previously recognized in AOCI $ 1,345 $ 1,986 $ 1,887 $ 2,012 Additions for transfers to HTM — — — 74 Amortization of unrealized losses on HTM securities previously recognized in AOCI (163 ) (50 ) (705 ) (150 ) Ending unrealized loss related to HTM securities previously recognized in AOCI $ 1,182 $ 1,936 $ 1,182 $ 1,936
Securities Gross Unrealized Losses Position	Information pertaining to securities with gross unrealized losses at September 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: September 30, 2015 Less Than 12 Months More Than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Held to Maturity: Municipal securities 7,400 103 — — 7,400 103 $ 7,400 $ 103 $ — $ — $ 7,400 $ 103 Available for Sale: Municipal securities 10,646 74 947 32 11,593 106 Mortgage-backed securities 34,247 187 22,064 287 56,311 474 $ 44,893 $ 261 $ 23,011 $ 319 $ 67,904 $ 580 December 31, 2014 Less Than 12 Months More Than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Held to Maturity: U.S. government agencies $ 1,995 $ 5 $ — $ — $ 1,995 $ 5 $ 1,995 $ 5 $ — $ — $ 1,995 $ 5 Available for Sale: U.S. government agencies $ 14,472 $ 15 $ 7,893 $ 108 $ 22,365 $ 123 Municipal securities 4,306 49 8,409 101 12,715 150 Mortgage-backed securities 38,563 217 46,204 836 84,767 1,053 $ 57,341 $ 281 $ 62,506 $ 1,045 $ 119,847 $ 1,326 Information pertaining to the number of securities with unrealized losses is detailed in the table below. The Company believes all unrealized losses as of September 30, 2015 and December 31, 2014 represent temporary impairment. The unrealized losses have resulted from temporary changes in the interest rate market and not as a result of credit deterioration. We do not intend to sell and it is not likely that we will be required to sell any of the securities referenced in the table below before recovery of their amortized cost. September 30, 2015 Less Than 12 Months More Than 12 Months Total Municipal securities 34 2 36 Mortgage-backed securities 20 14 34 54 16 70 December 31, 2014 Less Than 12 Months More Than 12 Months Total U.S. government agencies 11 3 14 Municipal securities 9 19 28 Mortgage-backed securities 26 27 53 46 49 95
Proceeds from Sales of Securities Available For Sale and Their Corresponding Gross Realized Gains and Losses	For the three and nine months ended September 30, 2015 and 2014 the Company had proceeds from sales of securities available for sale and their corresponding gross realized gains and losses as detailed below: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (Dollars in thousands) Gross proceeds $ 7,941 $ 3,408 $ 33,848 $ 18,833 Gross realized gains 35 301 342 680 Gross realized losses — (28 ) 20 (28 )
Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity	The amortized cost and estimated fair value of investments in debt securities at September 30, 2015, by contractual maturity, is shown below. Mortgage-backed securities have not been scheduled because expected maturities will differ from contractual maturities when borrowers have the right to prepay the obligations. Available for Sale Amortized Cost Fair Value (Dollars in thousands) Less than 1 year $ 1,101 $ 1,105 Over 1 year through 5 years 26,597 26,961 After 5 years through 10 years 16,495 16,681 Over 10 years 21,584 21,739 65,777 66,486 Mortgage-backed securities 162,513 163,120 Total $ 228,290 $ 229,606 Held to Maturity Amortized Cost Fair Value (Dollars in thousands) Over 1 year through 5 years $ 1,002 $ 1,003 After 5 years through 10 years 9,894 9,944 Over 10 years 24,869 25,984 35,765 36,931 Mortgage-backed securities 2,817 2,817 Total $ 38,582 $ 39,748

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2015
Loans Receivable Tables
Loan Receivable	Loans receivable as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, December 31, (Dollars in thousands) Real estate mortgage loans: One-to four-family residential $ 244,642 $ 227,209 Commercial real estate 204,543 179,435 Home equity loans and lines of credit 52,881 56,561 Residential construction 7,522 7,823 Other construction and land 52,043 50,298 Total real estate loans 561,631 521,326 Commercial and industrial 36,312 19,135 Consumer 6,085 3,200 Total commercial and consumer 42,397 22,335 Loans receivable, gross 604,028 543,661 Less: Net deferred loan fees (1,514 ) (1,695 ) Unamortized premium 451 — Unamortized discount (1,426 ) (1,487 ) Loans receivable, net $ 601,539 $ 540,479
Activity Related to Discount on Purchased Loans	The following tables present the activity related to the discount on purchased loans for the three and nine month periods ended September 30, 2015 and 2014: For the Three Months Ended For the Nine Months Ended September 30, September 30, (Dollars in thousands) 2015 2014 2015 2014 Discount on purchased loans, beginning of period $ 1,499 $ 1,665 $ 1,487 $ — Additional discount for new purchases — — 484 2,607 Accretion (73 ) (89 ) (250 ) (276 ) Discount applied to charge-offs — — (295 ) — Interest income recognized for repayments and restructurings — — — (755 ) Discount on purchased loans, end of period $ 1,426 $ 1,576 $ 1,426 $ 1,576

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2015
Allowance For Loan Losses Tables
Changes in Allowance for Loan Losses	The following tables present, by portfolio segment, the changes in the allowance for loan losses: Three Months Ended September 30, 2015 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,260 $ 2,607 $ 1,080 $ 344 $ 1,666 $ 680 $ 814 $ 9,451 Provision 272 325 37 (105 ) (292 ) (213 ) (24 ) — Charge-offs (13 ) — (22 ) — (28 ) — (16 ) (79 ) Recoveries 108 — 1 1 50 19 82 261 Ending balance $ 2,627 $ 2,932 $ 1,096 $ 240 $ 1,396 $ 486 $ 856 $ 9,633 Three Months Ended September 30, 2014 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,182 $ 2,846 $ 1,146 $ 487 $ 3,257 $ 304 $ 339 $ 11,561 Provision 65 (43 ) 215 82 (343 ) 118 (78 ) 16 Charge-offs (109 ) (3 ) (26 ) — (10 ) (3 ) (59 ) (210 ) Recoveries 165 6 5 — 113 4 112 405 Ending balance $ 3,303 $ 2,806 $ 1,340 $ 569 $ 3,017 $ 423 $ 314 $ 11,772 Nine Months Ended September 30, 2015 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,983 $ 2,717 $ 1,333 $ 510 $ 2,936 $ 308 $ 285 $ 11,072 Provision (335 ) 93 128 (273 ) (1,642 ) 150 379 (1,500 ) Charge-offs (251 ) (45 ) (391 ) — (114 ) (1 ) (36 ) (838 ) Recoveries 230 167 26 3 216 29 228 899 Ending balance $ 2,627 $ 2,932 $ 1,096 $ 240 $ 1,396 $ 486 $ 856 $ 9,633 Nine Months Ended September 30, 2014 One-to four Family Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,693 $ 4,360 $ 1,580 $ 501 $ 3,516 $ 336 $ 265 $ 14,251 Provision 47 106 78 68 (213 ) 56 (115 ) 27 Charge-offs (625 ) (2,001 ) (357 ) — (485 ) (128 ) (122 ) (3,718 ) Recoveries 188 341 39 — 199 159 286 1,212 Ending balance $ 3,303 $ 2,806 $ 1,340 $ 569 $ 3,017 $ 423 $ 314 $ 11,772
Investment in Loans by Portfolio Segment	The following tables present, by portfolio segment and reserving methodology, the allocation of the allowance for loan losses and the gross investment in loans: September 30, 2015 One-to fourFamily Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Allowance for loan losses Individually evaluated for impairment $ 536 $ 69 $ 6 $ — $ 114 $ 37 $ — $ 762 Collectively evaluated for impairment 2,091 2,863 1,090 240 1,282 449 856 8,871 $ 2,627 $ 2,932 $ 1,096 $ 240 $ 1,396 $ 486 $ 856 $ 9,633 Loans Receivable Individually evaluated for impairment $ 6,547 $ 10,107 $ 313 $ — $ 1,708 $ 320 $ — $ 18,995 Collectively evaluated for impairment 238,095 194,436 52,568 7,522 50,335 35,992 6,085 585,033 $ 244,642 $ 204,543 $ 52,881 $ 7,522 $ 52,043 $ 36,312 $ 6,085 $ 604,028 December 31, 2014 One-to fourFamily Residential Commercial Real Estate Home Equity Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) Allowance for loan losses Individually evaluated for impairment $ 719 $ 235 $ 14 $ — $ 705 $ 3 $ — $ 1,676 Collectively evaluated for impairment 2,264 2,482 1,319 510 2,231 305 285 9,396 $ 2,983 $ 2,717 $ 1,333 $ 510 $ 2,936 $ 308 $ 285 $ 11,072 Loans Receivable Individually evaluated for impairment $ 9,912 $ 17,828 $ 1,686 $ — $ 3,911 $ 328 $ — $ 33,665 Collectively evaluated for impairment 217,297 161,607 54,875 7,823 46,387 18,807 3,200 509,996 $ 227,209 $ 179,435 $ 56,561 $ 7,823 $ 50,298 $ 19,135 $ 3,200 $ 543,661
Credit Risk Profile by Rating	The following tables present the recorded investment in gross loans by loan grade: September 30, 2015 Loan Grade One-to Four-Family Residential Commercial Real Estate Home Equity and Lines of Credit Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) 1 $ — $ 66 $ — $ — $ — $ 7,695 $ 11 $ 7,772 2 — 4,484 — — — 99 — 4,583 3 18,018 10,897 1,228 543 987 501 1,224 33,398 4 44,290 57,990 2,157 2,696 10,288 12,977 1,610 132,008 5 33,412 99,191 5,704 1,172 20,248 8,912 363 169,002 6 2,959 14,441 — 1,056 1,950 400 — 20,806 7 3,592 13,390 — — 2,629 476 — 20,087 $ 102,271 $ 200,459 $ 9,089 $ 5,467 $ 36,102 $ 31,060 $ 3,208 $ 387,656 Ungraded Loan Exposure: Performing $ 141,436 $ 4,084 $ 43,388 $ 2,055 $ 15,896 $ 5,252 $ 2,875 $ 214,986 Nonperforming 935 — 404 — 45 — 2 1,386 Subtotal $ 142,371 $ 4,084 $ 43,792 $ 2,055 $ 15,941 $ 5,252 $ 2,877 $ 216,372 Total $ 244,642 $ 204,543 $ 52,881 $ 7,522 $ 52,043 $ 36,312 $ 6,085 $ 604,028 December 31, 2014 Loan Grade One-to Four-Family Residential Commercial Real Estate Home Equity and Lines of Credit Residential Construction Other Construction and Land Commercial Consumer Total (Dollars in thousands) 1 $ — $ 68 $ — $ — $ — $ 2,511 $ 20 $ 2,599 2 — — — — — 100 — 100 3 63,065 14,356 5,978 690 5,154 483 454 90,180 4 58,948 37,349 10,424 2,327 9,027 2,917 419 121,411 5 44,445 90,397 10,486 3,048 21,024 6,399 179 175,978 6 5,714 21,232 882 574 2,451 429 1 31,283 7 7,400 14,139 1,568 — 5,404 555 — 29,066 $ 179,572 $ 177,541 $ 29,338 $ 6,639 $ 43,060 $ 13,394 $ 1,073 $ 450,617 Ungraded Loan Exposure: Performing $ 46,247 $ 1,736 $ 26,864 $ 1,119 $ 7,073 $ 5,741 $ 2,125 $ 90,905 Nonperforming 1,390 158 359 65 165 — 2 2,139 Subtotal $ 47,637 $ 1,894 $ 27,223 $ 1,184 $ 7,238 $ 5,741 $ 2,127 $ 93,044 Total $ 227,209 $ 179,435 $ 56,561 $ 7,823 $ 50,298 $ 19,135 $ 3,200 $ 543,661
Aging Analysis of Recorded Investment of Past-Due Financing Receivables	The following tables include an aging analysis of the recorded investment of past-due financing receivables by class. The Company does not accrue interest on loans greater than 90 days past due. September 30, 2015 30-59 Days Past Due 60-89 Days Past Due 90 Days and Over Past Due Total Past Due Current Total Loans Receivable (Dollars in thousands) One-to four-family residential $ 4,299 $ 770 $ 987 $ 6,056 $ 238,586 $ 244,642 Commercial real estate 3,187 92 596 3,875 200,668 204,543 Home equity and lines of credit 309 29 404 742 52,139 52,881 Residential construction — — — — 7,522 7,522 Other construction and land 2,070 7 75 2,152 49,891 52,043 Commercial 309 — — 309 36,003 36,312 Consumer 25 1 2 28 6,057 6,085 Total $ 10,199 $ 899 $ 2,064 $ 13,162 $ 590,866 $ 604,028 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due 90 Days and Over Past Due Total Past Due Current Total Loans Receivable (Dollars in thousands) One-to four-family residential $ 6,298 $ 448 $ 2,669 $ 9,415 $ 217,794 $ 227,209 Commercial real estate 2,136 909 1,006 4,051 175,384 179,435 Home equity and lines of credit 557 528 759 1,844 54,717 56,561 Residential construction — — 65 65 7,758 7,823 Other construction and land 1,530 964 473 2,967 47,331 50,298 Commercial — 22 — 22 19,113 19,135 Consumer 247 4 1 252 2,948 3,200 Total $ 10,768 $ 2,875 $ 4,973 $ 18,616 $ 525,045 $ 543,661
Summary of Average Impaired Loans	The following table presents investments in loans considered to be impaired and related information on those impaired loans as of September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 Recorded Balance Unpaid Principal Balance Specific Allowance Recorded Balance Unpaid Principal Balance Specific Allowance (Dollars in thousands) Loans without a valuation allowance One-to four-family residential $ 3,907 $ 3,932 $ — $ 5,943 $ 6,096 $ — Commercial real estate 8,308 9,889 — 14,231 16,515 — Home equity and lines of credit 213 328 — 1,537 1,912 — Residential construction — — — — — — Other construction and land 671 919 — 1,901 2,579 — Commercial — — — — — — $ 13,099 $ 15,068 $ — $ 23,612 $ 27,102 $ — Loans with a valuation allowance One-to four-family residential $ 2,640 $ 2,658 $ 536 $ 3,969 $ 4,028 $ 719 Commercial real estate 1,799 1,799 69 3,597 3,745 235 Home equity and lines of credit 100 100 6 149 149 14 Residential construction — — — — — — Other construction and land 1,037 1,037 114 2,010 2,010 705 Commercial 320 320 37 328 328 3 $ 5,896 $ 5,914 $ 762 $ 10,053 $ 10,260 $ 1,676 Total One-to four-family residential $ 6,547 $ 6,590 $ 536 $ 9,912 $ 10,124 $ 719 Commercial real estate 10,107 11,688 69 17,828 20,260 235 Home equity and lines of credit 313 428 6 1,686 2,061 14 Residential construction — — — — — — Other construction and land 1,708 1,956 114 3,911 4,589 705 Commercial 320 320 37 328 328 3 $ 18,995 $ 20,982 $ 762 $ 33,665 $ 37,362 $ 1,676 The following table presents average impaired loans and interest income recognized on those impaired loans, by class segment, for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized (Dollars in thousands) (Dollars in thousands) Loans without a valuation allowance One-to four-family residential $ 3,941 $ 45 $ 4,793 $ 41 $ 4,215 $ 127 $ 4,918 $ 119 Commercial real estate 8,330 79 16,208 167 8,374 257 16,140 521 Home equity and lines of credit 213 6 1,832 13 213 7 1,891 39 Residential construction — — — — — — — — Other construction and land 674 8 4,615 58 680 22 4,748 177 Commercial — — 17 — — — 18 — $ 13,158 $ 138 $ 27,465 $ 279 $ 13,482 $ 413 $ 27,715 $ 856 Loans with a valuation allowance One-to four-family residential $ 2,648 $ 22 $ 5,214 $ 53 $ 3,190 $ 66 $ 5,242 $ 162 Commercial real estate 1,805 20 2,559 28 1,813 61 2,574 84 Home equity and lines of credit 100 1 229 3 100 3 229 9 Residential construction — — — — — — — — Other construction and land 1,043 11 1,902 24 1,843 31 1,920 71 Commercial 322 5 332 5 325 14 336 15 $ 5,918 $ 59 $ 10,236 $ 113 $ 7,271 $ 175 $ 10,301 $ 341 Total One-to four-family residential $ 6,589 $ 67 $ 10,007 $ 94 $ 7,405 $ 193 $ 10,160 $ 281 Commercial real estate 10,135 99 18,767 195 10,187 318 18,714 605 Home equity and lines of credit 313 7 2,061 16 313 10 2,120 48 Residential construction — — — — — — — — Other construction and land 1,717 19 6,517 82 2,523 53 6,668 248 Commercial 322 5 349 5 325 14 354 15 $ 19,076 $ 197 $ 37,701 $ 392 $ 20,753 $ 588 $ 38,016 $ 1,197
Financing Receivables on Nonaccrual Status	The following table summarizes the balances of nonperforming loans as of September 30, 2015 and December 31, 2014. Certain loans classified as Troubled Debt Restructurings (“TDRs”) and impaired loans may be on non-accrual status even though they are not contractually delinquent. September 30, 2015 December 31, 2014 (Dollars in thousands) One-to four-family residential $ 2,823 $ 5,661 Commercial real estate 3,914 7,011 Home equity loans and lines of credit 403 1,347 Residential construction — 65 Other construction and land 392 2,679 Commercial 67 15 Consumer 2 2 Non-performing loans $ 7,601 $ 16,780
Summary of TDR Loans	The following tables summarize TDR loans as of the dates indicated: September 30, 2015 Performing Nonperforming Total TDR’s TDR’s TDR’s (Dollars in thousands) One-to-four family residential $ 4,418 $ — $ 4,418 Commercial real estate 6,183 2,967 9,150 Home equity and lines of credit 313 — 313 Residential construction — — — Other construction and land 1,405 259 1,664 Commercial 320 13 333 $ 12,639 $ 3,239 $ 15,878 December 31, 2014 Performing Nonperforming Total TDR’s TDR’s TDR’s (Dollars in thousands) One-to-four family residential $ 5,760 $ 715 $ 6,475 Commercial real estate 10,710 3,797 14,507 Home equity and lines of credit 443 — 443 Residential construction — — — Other construction and land 1,519 672 2,191 Commercial 328 16 344 $ 18,760 $ 5,200 $ 23,960 Loan modifications that were deemed TDRs at the time of the modification during the period presented are summarized in the tables below: Three Months Ended Nine Months Ended (Dollars in thousands) Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Forgiveness of principal: Commercial real estate — $ — $ — 1 $ 1,988 $ 1,693 — $ — $ — 1 $ 1,988 $ 1,693 Three Months Ended Nine Months Ended (Dollars in thousands) Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Below market interest rate: One-to four-family residential — $ — $ — 2 $ 409 $ 326 Commercial real estate 1 280 280 1 280 280 Home equity loans and lines of credit — — — 1 50 40 Other construction and land 1 151 151 1 151 151 2 $ 431 $ 431 5 $ 890 $ 797 Extended payment terms: Other construction and land — $ — $ — 2 $ 720 $ 596 Commercial real estate — — — 7 6,770 5,332 Commercial — — — 1 18 12 — $ — $ — 10 $ 7,508 $ 5,940 The following table summarizes TDRs that defaulted during the three and nine month periods ended September 30, 2014 and which were modified as TDRs within the previous 12 months. There were no TDRs that defaulted during the three or nine month periods ending September 30, 2015 and which were modified as TDRs within the previous 12 months. Three Months Ended Nine Months Ended Number of Loans Recorded Investment Number of Loans Recorded Investment (Dollars in thousands) Below market interest rate: One-to-four family residential — $ — 1 $ 135 Home equity and lines of credit 1 50 1 50 Other construction and land — — — — 1 $ 50 2 $ 185 Extended payment terms: Commercial real estate — $ — 1 $ 215

REAL ESTATE OWNED (Tables)

REAL ESTATE OWNED (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate Owned Tables
Summary of Real Estate Owned and Changes in the Valuation Allowances	T he following tables summarize real estate owned and changes in the valuation allowance for real estate owned as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014. September 30, December 31, (Dollars in thousands) 2015 2014 Real estate owned, gross $ 6,928 $ 6,185 Less: Valuation allowance 1,549 1,760 Real estate owned, net $ 5,379 $ 4,425 Three Months Ended Nine Months Ended (Dollars in thousands) 2015 2014 2015 2014 Valuation allowance, beginning $ 1,558 $ 2,661 $ 1,760 $ 5,560 Provision charged to expense 80 411 171 1,508 Reduction due to disposal (89 ) (1,775 ) (382 ) (5,771 ) Valuation allowance, ending $ 1,549 $ 1,297 $ 1,549 $ 1,297

DEPOSITS (Tables)

DEPOSITS (Tables)	9 Months Ended
	Sep. 30, 2015
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]
Summary of Deposit Balances and Interest Expenses	The following table summarizes deposit balances and interest expense by type of deposit as of and for the nine months ended September 30, 2015 and 2014 and the year ended December 31, 2014. As of and for the As of and for the Nine Months Ended Year Ended 2015 2014 2014 (Dollars in thousands) Balance Interest Expense Balance Interest Expense Balance Interest Expense Noninterest-bearing demand $ 100,413 $ — $ 82,381 $ — $ 86,110 $ — Interest-bearing demand 101,182 108 88,669 108 92,877 149 Money Market 170,995 425 188,141 753 178,320 983 Savings 31,468 24 28,115 27 27,591 36 Time Deposits 279,015 2,815 323,367 3,163 318,219 4,193 $ 683,073 $ 3,372 $ 710,673 $ 4,051 $ 703,117 $ 5,361

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Outstanding FHLB advances	The scheduled maturities and respective weighted average rates of outstanding FHLB advances, are as follows for the dates indicated: September 30, 2015 December 31, 2014 Year of Maturity Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in thousands) 2015 $ 57,000 0.31 % $ 20,000 0.33 % 2016 55,000 0.61 % 10,000 0.84 % 2017 8,000 1.23 % 5,000 1.38 % 2018 2,000 1.25 % — — 2019 12,500 1.82 % 10,000 1.83 % 2020 1,000 1.78 % 15,000 2.79 % $ 135,500 0.65 % $ 60,000 1.37 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2015
Income Taxes Tables
Schedule of net deferred taxes	The components of net deferred taxes as of September 30, 2015 and December 31, 2014 are summarized as follows: September 30, December 31, 2015 2014 (Dollars in thousands) Deferred tax assets: Allowance for loan losses $ 3,622 $ 4,235 Deferred compensation and post employment benefits 3,554 3,514 Non-accrual interest 251 202 Valuation reserve for other real estate 583 673 North Carolina NOL carryover 1,017 1,404 Federal NOL carryover 11,150 12,392 Unrealized losses on securities (49 ) 867 Other 703 393 Gross deferred tax assets 20,831 23,680 Less: valuation allowance (764 ) (19,810 ) Total deferred tax assets 20,067 3,870 Deferred tax liabilities: Fixed assets 301 461 Loan servicing rights 953 813 Deferred loan costs 587 413 Prepaid expenses 129 94 Total deferred tax liabilities 1,970 1,781 Net deferred tax asset $ 18,097 $ 2,089

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share Tables
Schedule of reconciliation of average shares outstanding	The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock: (Dollars in thousands, except per share amounts) For the For the Numerator: Net income $ 2,165 $ 21,885 Denominator: Weighted-average common shares outstanding - basic 6,546,375 6,546,375 Effect of dilutive shares — — Weighted-average common shares outstanding - diluted 6,546,375 6,546,375 Earnings per share - basic $ 0.33 $ 3.34 Earnings per share - diluted $ 0.33 $ 3.34

ACCUMULATED OTHER COMPREHENSI32

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Accumulated other comprehensive income (loss)	The following table summarizes the components of accumulated other comprehensive income and changes in those components as of and for the three and nine months ended September 30, 2015 and 2014. Three Months Ended September 30, 2015 Available for Sale Securities Held to Maturity Securities Transferred from AFS Deferred Tax Valuation Allowance on AFS Total (Dollars in thousands) Balance, beginning of period $ (512 ) $ (840 ) $ (814 ) $ (2,166 ) Change in deferred tax valuation allowance attributable to net unrealized losses on investment securities available for sale — — 95 95 Change in net unrealized holding losses on securities available for sale 2,172 — — 2,172 Reclassification adjustment for net securities gains realized in net income (35 ) — — (35 ) Transfer of net unrealized loss from available for sale to held to maturity — — — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 163 — 163 Income tax benefit (807 ) (60 ) — (867 ) Balance, end of period $ 818 $ (737 ) $ (719 ) $ (638 ) Three Months Ended September 30, 2014 (Dollars in thousands) Balance, beginning of period $ (818 ) $ (1,226 ) $ (1,267 ) $ (3,311 ) Change in deferred tax valuation allowance attributable to unrealized gains on investment securities available for sale — — (278 ) (278 ) Change in unrealized holding gains on securities available for sale (505 ) — — (505 ) Reclassification adjustment for net securities gains realized in net income (273 ) — — (273 ) Transfer of net unrealized loss from available for sale to held to maturity — — — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 50 — 50 Income tax benefit 298 (20 ) — 278 Balance, end of period $ (1,298 ) $ (1,196 ) $ (1,545 ) $ (4,039 ) Nine Months Ended September 30, 2015 Available for Sale Securities Held to Maturity Securities Transferred from AFS Deferred Tax Valuation Allowance on Investment Securities Total (Dollars in thousands) Balance, beginning of period $ (236 ) $ (1,165 ) $ (868 ) $ (2,269 ) Change in deferred tax valuation allowance attributable to net unrealized losses on investment securities — — 149 149 Change in net unrealized holding losses on securities available for sale 2,020 — — 2,020 Reclassification adjustment for net securities gains realized in net income (322 ) — — (322 ) Transfer of net unrealized loss from available for sale to held to maturity — — — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 705 — 705 Income tax benefit (644 ) (277 ) — (921 ) Balance, end of period $ 818 $ (737 ) $ (719 ) $ (638 ) Nine Months Ended September 30, 2014 (Dollars in thousands) Balance, beginning of period $ (3,374 ) $ (1,242 ) $ (2,860 ) $ (7,476 ) Change in deferred tax valuation allowance attributable to unrealized gains on investment securities — — 1,315 1,315 Change in unrealized holding gains on securities available for sale 3,939 — — 3,939 Reclassification adjustment for net securities gains realized in net income (652 ) — — (652 ) Transfer of net unrealized loss from available for sale to held to maturity 74 (74 ) — — Amortization of unrealized gains and losses on securities transferred to held to maturity — 150 — 150 Income tax benefit (1,285 ) (30 ) — (1,315 ) Balance, end of period $ (1,298 ) $ (1,196 ) $ (1,545 ) $ (4,039 )
ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock	The following table shows the line items in the Consolidated Statements of Income affected by amounts reclassified from accumulated other comprehensive income: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (Dollars in thousands) (Dollars in thousands) Gain on sale of investments, net $ 35 $ 273 $ 322 $ 652 Tax effect — — — — Impact, net of tax 35 273 322 652 Interest income - taxable securities 163 50 705 150 Tax effect — — — — Impact, net of tax 163 50 705 150 Total reclassifications, net of tax $ 198 $ 323 $ 1,027 $ 802

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Tables
Schedule of commitments to fund lines of credit	The following summarizes the Company’s approximate commitments to extend credit: September 30, 2015 (Dollars in thousands) Lines of credit $ 69,879 Standby letters of credit 708 $ 70,587
Schedule of Outstanding commitments to originate mortgage loans	As of September 30, 2015, the Company had outstanding commitments to originate loans as follows: September 30, 2015 Amount Range of Rates (Dollar in thousands) Fixed $ 8,337 2.99% to 5.00% Variable 36,279 2.99% to 6.25% $ 44,616

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures Tables
Summary of assets and liabilities measured at fair value on a recurring basis	Below is a table that presents information about certain assets and liabilities measured at fair value on a recurring basis: September 30, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Securities available for sale: U.S. government agencies $ — $ 28,481 $ — $ 28,481 Municipal securities — 35,865 — 35,865 Mortgage-backed securities — 163,120 — 163,120 U.S. Treasury securities 1,536 — — 1,536 Mutual funds 604 — — 604 2,140 227,466 — 229,606 Loan servicing rights — — 2,318 2,318 Forward sales commitments — — 12 12 Interest rate lock commitments — — 78 78 Total assets $ 2,140 $ 227,466 $ 2,408 $ 232,014 December 31, 2014 Level 1 Level 2 Level 3 Total (Dollars in thousands) Securities available for sale: U.S. government agencies $ — $ 39,482 $ — $ 39,482 Municipal securities — 25,558 — 25,558 Mortgage-backed securities — 152,718 — 152,718 U.S. Treasury securities 1,510 — — 1,510 Mutual funds 591 — — 591 2,101 217,758 — 219,859 Loan servicing rights — — 2,187 2,187 Forward sales commitments — — 9 9 Interest rate lock commitments — — 52 52 Total assets $ 2,101 $ 217,758 $ 2,248 $ 222,107
Schedule of changes in assets measured at fair value on a recurring basis	The following table presents the changes in assets measured at fair value on a recurring basis for which we have utilized Level 3 inputs to determine fair value: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (Dollars in thousands) Balance at beginning of period $ 2,176 $ 2,156 $ 2,248 $ 1,888 Loan servicing right activity, included in servicing income, net Capitalization from loans sold 215 68 431 278 Fair value adjustment (55 ) (93 ) (300 ) (97 ) Mortgage derivative gains included in Other income 72 (25 ) 29 37 Balance at end of period $ 2,408 $ 2,106 $ 2,408 $ 2,106
Summary of assets and liabilities measured at a fair value on a nonrecurring basis	The table below presents information about certain assets and liabilities measured at fair value on a nonrecurring basis. There were no loans held for sale carried at fair value at either September 30, 2015 or December 31, 2014. September 30, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Collateral dependent impaired loans: One-to four family residential $ — $ — $ 4,276 $ 4,276 Commercial real estate — — 8,308 8,308 Home equity loans and lines of credit — — 213 213 Other construction and land — — 689 689 Real estate owned: One-to four family residential — — 1,422 1,422 Commercial real estate — — 1,034 1,034 Other construction and land — — 2,923 2,923 Total assets $ — $ — $ 18,865 $ 18,865 December 31, 2014 Level 1 Level 2 Level 3 Total (Dollars in thousands) Collateral dependent impaired loans: One-to four family residential $ — $ — $ 6,407 $ 6,407 Commercial real estate — — 14,551 14,551 Home equity loans and lines of credit — — 1,456 1,456 Other construction and land — — 2,227 2,227 Real estate owned: One-to four family residential — — 220 220 Commercial real estate — — 774 774 Other construction and land — — 3,431 3,431 Total assets $ — $ — $ 29,066 $ 29,066
Schedule of significant unobservable inputs used in the fair value measurements	The following table provides information describing the unobservable inputs used in Level 3 fair value measurements at September 30, 2015. Valuation Technique Unobservable Input General Range Impaired loans Discounted Appraisals Collateral discounts and estimated selling cost 0 – 30% Real estate owned Discounted Appraisals Collateral discounts and estimated selling cost 0 – 30% Loan servicing rights Discounted Cash Flows Prepayment speed 5 - 30% Discount rate 9 - 12% Forward sales commitments and interest rate lock commitments Change in market price of underlying loan Value of underlying loan 101 - 108%
Schedule of carrying amount and estimated fair value of the Company's financial instruments	The approximate carrying and estimated fair value of financial instruments are summarized below: Fair Value Measurements at September 30, 2015 Carrying (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Assets: Cash and equivalents $ 42,410 $ 42,410 $ 42,410 $ — $ — Securities available for sale 229,606 229,606 2,140 227,466 — Securities held to maturity 38,582 39,748 — 39,748 — Loans held for sale 4,771 5,023 — 5,023 — Loans receivable, net 601,539 608,345 — — 608,345 Other investments, at cost 8,069 8,069 — 8,069 — Interest receivable 3,366 3,366 — 3,366 — Bank owned life insurance 20,748 20,748 — 20,748 — Loan servicing rights 2,318 2,318 — — 2,318 Forward sales commitments 12 12 — — 12 Interest rate lock commitments 78 78 — — 78 Liabilities: Demand deposits $ 404,058 404,058 $ — $ 404,058 $ — Time deposits 279,015 281,836 — — 281,836 Federal Home Loan Bank advances 135,500 138,367 — 138,367 — Junior subordinated debentures 14,433 14,433 — 14,433 — Accrued interest payable 205 205 — 205 — Fair Value Measurements at December 31, 2014 Carrying (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Assets: Cash and equivalents $ 58,982 $ 58,982 $ 58,982 $ — $ — Securities available for sale 219,859 219,859 2,101 217,758 — Securities held to maturity 29,285 30,890 — 30,890 — Loans held for sale 10,761 11,501 — 11,501 — Loans receivable, net 529,407 546,450 — — 546,450 Other investments, at cost 4,908 4,908 — 4,908 — Interest receivable 2,925 2,925 — 2,925 — Bank owned life insurance 20,417 20,417 — 20,417 — Loan servicing rights 2,187 2,187 — — 2,187 Forward sales commitments 9 9 — — 9 Interest rate lock commitments 52 52 — — 52 Liabilities: Demand deposits $ 384,898 $ 384,898 $ — $ 384,898 $ — Time deposits 318,219 321,491 — — 321,491 Federal Home Loan Bank advances 60,000 62,108 — 62,108 — Junior subordinated debentures 14,433 14,433 — 14,433 — Accrued interest payable 323 323 — 323 —

STOCK CONVERSION AND CHANGE I35

STOCK CONVERSION AND CHANGE IN CORPORATE FORM (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Stock Conversion And Change In Corporate Form Details
Common stock, shares, issued	6,546,375		6,546,375
Common stock price per share	$ 10
Proceeds from issuance of common stock, gross	$ 65,464
Stock issuance costs	$ (1,813)
Proceeds from issuance of common stock, net		$ 63,733
Amount contributed to the capital of the bank from stock conversion	$ 44,581
Amount Retained by the Company from stock conversion	$ 19,070
Amount contributed to the capital of the bank from stock conversion, percentage	70.00%

BRANCH ACQUISITION (Details Nar

BRANCH ACQUISITION (Details Narrative) - Two Bank Branches In Anderson And Chesnee South Carolina [Member] (Arthur State Bank) $ in Thousands	Sep. 30, 2015USD ($)
Deposits	$ 42,000
Loans	$ 9,000
Deposit premium percent	2.87%

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Amortized Cost	$ 228,290	$ 220,241
Gross Unrealized Gains	1,896	944
Gross Unrealized Losses	(580)	(1,326)
Estimated fair value	229,606	219,859
U.S. Government Agencies [Member]
Amortized Cost	28,068	39,540
Gross Unrealized Gains	$ 413	65
Gross Unrealized Losses		(123)
Estimated fair value	$ 28,481	39,482
Municipal Securities [Member]
Amortized Cost	35,610	25,483
Gross Unrealized Gains	361	225
Gross Unrealized Losses	(106)	(150)
Estimated fair value	35,865	25,558
Mortgage-backed Securities [Member]
Amortized Cost	162,513	153,128
Gross Unrealized Gains	1,081	643
Gross Unrealized Losses	(474)	(1,053)
Estimated fair value	163,120	152,718
U.S. Treasury securities [Member]
Amortized Cost	1,500	1,500
Gross Unrealized Gains	$ 36	$ 10
Gross Unrealized Losses
Estimated fair value	$ 1,536	$ 1,510
Mutual funds [Member]
Amortized Cost	599	590
Gross Unrealized Gains	$ 5	$ 1
Gross Unrealized Losses
Estimated fair value	$ 604	$ 591

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Amortized Cost	$ 38,582	$ 29,285
Gross Unrealized Gains	1,269	1,610
Gross Unrealized Losses	(103)	(5)
Estimated Fair Value	39,748	30,890
U.S. Government Agencies [Member]
Amortized Cost	18,595	23,193
Gross Unrealized Gains	$ 1,097	1,420
Gross Unrealized Losses		(5)
Estimated Fair Value	$ 19,692	24,608
Municipal Securities [Member]
Amortized Cost	12,468	4,392
Gross Unrealized Gains	157	$ 190
Gross Unrealized Losses	(103)
Estimated Fair Value	12,522	$ 4,582
Trust preferred securities [Member]
Amortized Cost		$ 1,000
Gross Unrealized Gains
Gross Unrealized Losses
Estimated Fair Value		$ 1,000
Corporate debt securities [Member]
Amortized Cost	3,700	$ 700
Gross Unrealized Gains	$ 14
Gross Unrealized Losses
Estimated Fair Value	$ 3,714	$ 700
Mortgage-backed Securities [Member]
Amortized Cost	$ 2,817
Gross Unrealized Gains
Gross Unrealized Losses
Estimated Fair Value	$ 2,817
U.S. Treasury securities [Member]
Amortized Cost	1,002
Gross Unrealized Gains	$ 1
Gross Unrealized Losses
Estimated Fair Value	$ 1,003

INVESTMENT SECURITIES (Detail39

INVESTMENT SECURITIES (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Investment Securities Details 3
Book value		$ 4,473		$ 4,473
Market value		$ 4,399		4,399
Unrealized loss				$ 74

INVESTMENT SECURITIES (Detail40

INVESTMENT SECURITIES (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Investment Securities Details 3
Beginning unrealized loss related to HTM securities previously recognized in AOCI	$ 1,345	$ 1,986	$ 1,887	$ 2,012
Additions for transfers to HTM				74
Amortization of unrealized losses on HTM securities previously recognized in AOCI	$ (163)	$ (50)	$ (705)	(150)
Ending unrealized loss related to HTM securities previously recognized in AOCI	$ 1,182	$ 1,936	$ 1,182	$ 1,936

INVESTMENT SECURITIES (Detail41

INVESTMENT SECURITIES (Details 5) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Held to maturity, Less Than 12 Months Fair Value	$ 7,400	$ 1,995
Held to maturity, Less Than 12 Months Unrealized Losses	103	5
Held to maturity, Fair Value	7,400	1,995
Held to maturity, Unrealized Losses	103	5
Available for sale, Less Than 12 Months Fair Value	44,893	57,341
Available for sale, Less Than 12 Months Unrealized Losses	261	281
Available for sale, Over 12 Months Fair Value	23,011	62,506
Available for sale, Over 12 Months Unrealized Losses	319	1,045
Available for sale, Fair Value	67,904	119,847
Available for sale, Unrealized Losses	580	1,326
U.S. Government Agencies [Member]
Held to maturity, Less Than 12 Months Fair Value		1,995
Held to maturity, Less Than 12 Months Unrealized Losses		5
Held to maturity, Fair Value		1,995
Held to maturity, Unrealized Losses		5
Available for sale, Less Than 12 Months Fair Value		14,472
Available for sale, Less Than 12 Months Unrealized Losses		15
Available for sale, Over 12 Months Fair Value		7,893
Available for sale, Over 12 Months Unrealized Losses		108
Available for sale, Fair Value		22,365
Available for sale, Unrealized Losses		123
Municipal Securities [Member]
Held to maturity, Less Than 12 Months Fair Value	7,400
Held to maturity, Less Than 12 Months Unrealized Losses	103
Held to maturity, Fair Value	7,400
Held to maturity, Unrealized Losses	103
Available for sale, Less Than 12 Months Fair Value	10,646	4,306
Available for sale, Less Than 12 Months Unrealized Losses	74	49
Available for sale, Over 12 Months Fair Value	947	8,409
Available for sale, Over 12 Months Unrealized Losses	32	101
Available for sale, Fair Value	11,593	12,715
Available for sale, Unrealized Losses	106	150
Mortgage-backed Securities [Member]
Available for sale, Less Than 12 Months Fair Value	34,247	38,563
Available for sale, Less Than 12 Months Unrealized Losses	187	217
Available for sale, Over 12 Months Fair Value	22,064	46,204
Available for sale, Over 12 Months Unrealized Losses	287	836
Available for sale, Fair Value	56,311	84,767
Available for sale, Unrealized Losses	$ 474	$ 1,053

INVESTMENT SECURITIES (Detail42

INVESTMENT SECURITIES (Details 6) - Number	Sep. 30, 2015	Dec. 31, 2014
Number of securities less than 12 months	54	46
Number of securities more than 12 months	16	49
Number of securities	70	95
U.S. Government Agencies [Member]
Number of securities less than 12 months		11
Number of securities more than 12 months		3
Number of securities		14
Municipal Securities [Member]
Number of securities less than 12 months	34	9
Number of securities more than 12 months	2	19
Number of securities	36	28
Mortgage-backed Securities [Member]
Number of securities less than 12 months	20	26
Number of securities more than 12 months	14	27
Number of securities	34	53

INVESTMENT SECURITIES (Detail43

INVESTMENT SECURITIES (Details 7) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Gross proceeds	$ 7,941	$ 3,408	$ 33,848	$ 18,833
Gross realized gains	$ 35	301	342	680
Gross realized losses		$ (28)	20	$ (28)
Securities Pledged as Collateral [Member]
Securities pledged against deposits	$ 57,500		$ 57,500		$ 10,700

INVESTMENT SECURITIES (Detail44

INVESTMENT SECURITIES (Details 8) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment Securities Details 8
Available for sale, Less than 1 year, Amortized Cost	$ 1,101
Available for sale, Over 1 year through 5 years, Amortized Cost	26,597
Available for sale, After 5 years through 10 years, Amortized Cost	16,495
Available for sale, Over 10 years, Amortized Cost	21,584
Available for sale, Before Amortized Cost Available for sale, Mortgage-backed securities, Amortized Cost	65,777
Available for sale, Mortgage-backed securities, Amortized Cost	162,513
Available for sale, Total, Amortized Cost	228,290
Available for sale, Less than 1 year, Fair Value	1,105
Available for Sale, Over 1 year through 5 years, Fair Value	26,961
Available for Sale, After 5 years through 10 years, Fair Value	16,681
Available for Sale, Over 10 years, Fair Value	21,739
Available for sale, Before Amortized Cost Available for sale, Mortgage-backed securities, Fair Value	66,486
Available for Sale, Mortgage-backed securities, Fair Value	163,120
Available for Sale, Total, Fair Value	229,606
Held to Maturity, Over 1 year through 5 years, Amortized Cost	1,002
Held to Maturity, After 5 years through 10 years, Amortized Cost	9,894
Held to Maturity, Over 10 years, Amortized Cost	24,869
Held to Maturity Before Amortized Cost Available for sale, Mortgage-backed securities, Amortized Cost	35,765
Held to Maturity Mortgage-backed securities, Amortized Cost	2,817
Held to Maturity, Total, Amortized Cost	38,582	$ 29,285
Held to Maturity, Over 1 year through 5 years, Fair Value	1,003
Held to Maturity, After 5 years through 10 years, Fair Value	9,944
Held to Maturity, Over 10 years, Fair Value	25,984
Held to Maturity Before Amortized Cost Available for sale, Mortgage-backed securities, Fair Value	36,931
Held to Maturity Mortgage-backed securities, Fair Value	2,817
Held to Maturity, Total, Fair Value	$ 39,748	$ 30,890

LOANS RECEIVABLE (Details)

LOANS RECEIVABLE (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	$ 604,028	$ 543,661
Less: Net deferred loan fees	(1,514)	$ (1,695)
Unamortized premium	451
Unamortized discount	(1,426)	$ (1,487)
Loans receivable, net	601,539	540,479
One To Four Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	244,642	227,209
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	204,543	179,435
Home Equity Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	52,881	56,561
Residential Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	7,522	7,823
Other construction and land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	52,043	50,298
Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	561,631	521,326
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	36,312	19,135
Consumer Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	6,085	3,200
Commercial and Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	$ 42,397	$ 22,335

LOANS RECEIVABLE (Details 2)

LOANS RECEIVABLE (Details 2) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	Jan. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Discount on purchased loans, beginning of period				$ 1,695	$ 1,695
Discount on purchased loans, end of period		$ 1,514			1,514
Federal Deposit Insurance Corporation [Member]
Discount on purchased loans, beginning of period		$ 1,499	$ 1,665	1,487	1,487
Additional discount for new purchases	$ 2,600			200	484	$ 2,607
Accretion		$ (73)	$ (89)		(250)	$ (276)
Discount applied to charge-offs					$ (295)
Interest income recognized for repayments and restructurings						$ (755)
Discount on purchased loans, end of period		$ 1,426	$ 1,576	$ 1,499	$ 1,426	$ 1,576

LOANS RECEIVABLE (Detail Narrat

LOANS RECEIVABLE (Detail Narrative) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	Jan. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding loan balance purchased		$ 18,400			$ 18,400
Restructuring of loan		15,878			15,878		$ 23,960
Outstanding loan balance purchased not qualify for sale accounting		2,500			2,500
Federal Reserve Bank Advances [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans pledged as collateral to secure funding amount		89,100			89,100		97,700
Federal Home Loan Bank of Atlanta [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans pledged as collateral to secure funding amount		$ 123,600			123,600		117,900
Federal Deposit Insurance Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans and purchased percentage	50.00%
Outstanding loan balance purchased	$ 9,300
Discount on loans purchased	2,600			$ 200	$ 484	$ 2,607
Repayment for loan purchased	2,800
Discount on payments	500
Deferred interest income recognized	$ 300
Restructuring of loan								$ 1,800
Interest income recognized for repayments and restructurings						$ 755
Another Community Bank [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans and purchased percentage					54.00%
Outstanding loan balance purchased		$ 1,600			$ 1,600
Discount on loans purchased					500
Commercial SBA Guaranteed Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding loan balance purchased		5,300			5,300
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding loan balance purchased		10,500			10,500
Restructuring of loan		333			333		344
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding loan balance purchased		2,700			2,700
Restructuring of loan		$ 9,150			$ 9,150		$ 14,507

ALLOWANCE FOR LOAN LOSSES (Deta

ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 9,451	$ 11,561	$ 11,072	$ 14,251
Provision		16	(1,500)	27
Charge-offs	$ (79)	(210)	(838)	(3,718)
Recoveries	261	405	899	1,212
Balance, end of period	9,633	11,772	9,633	11,772
One To Four Family Residential [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,260	3,182	2,983	3,693
Provision	272	65	(335)	47
Charge-offs	(13)	(109)	(251)	(625)
Recoveries	108	165	230	188
Balance, end of period	2,627	3,303	2,627	3,303
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,607	2,846	2,717	4,360
Provision	$ 325	(43)	93	106
Charge-offs		(3)	(45)	(2,001)
Recoveries		6	167	341
Balance, end of period	$ 2,932	2,806	2,932	2,806
Home Equity Line of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,080	1,146	1,333	1,580
Provision	37	215	128	78
Charge-offs	(22)	(26)	(391)	(357)
Recoveries	1	5	26	39
Balance, end of period	1,096	1,340	1,096	1,340
Residential Construction [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	344	487	510	501
Provision	$ (105)	$ 82	(273)	$ 68
Charge-offs
Recoveries	$ 1		3
Balance, end of period	240	$ 569	240	$ 569
Other construction and land [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,666	3,257	2,936	3,516
Provision	(292)	(343)	(1,642)	(213)
Charge-offs	(28)	(10)	(114)	(485)
Recoveries	50	113	216	199
Balance, end of period	1,396	3,017	1,396	3,017
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	680	304	308	336
Provision	$ (213)	118	150	56
Charge-offs		(3)	(1)	(128)
Recoveries	$ 19	4	29	159
Balance, end of period	486	423	486	423
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	814	339	285	265
Provision	(24)	(78)	379	(115)
Charge-offs	(16)	(59)	(36)	(122)
Recoveries	82	112	228	286
Balance, end of period	$ 856	$ 314	$ 856	$ 314

ALLOWANCE FOR LOAN LOSSES (De49

ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Allowance for loan losses
Individually evaluated for impairment	$ 762		$ 1,676
Collectively evaluated for impairment	8,871		9,396
Balance, end of period	9,633	$ 9,451	11,072	$ 11,772	$ 11,561	$ 14,251
Loans Receivable
Individually evaluated for impairment	18,995		33,665
Collectively evaluated for impairment	585,033		509,996
Total Loans Receivable	604,028		543,661
One To Four Family Residential [Member]
Allowance for loan losses
Individually evaluated for impairment	536		719
Collectively evaluated for impairment	2,091		2,264
Balance, end of period	2,627	2,260	2,983	3,303	3,182	3,693
Loans Receivable
Individually evaluated for impairment	6,547		9,912
Collectively evaluated for impairment	238,095		217,297
Total Loans Receivable	244,642		227,209
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Individually evaluated for impairment	69		235
Collectively evaluated for impairment	2,863		2,482
Balance, end of period	2,932	2,607	2,717	2,806	2,846	4,360
Loans Receivable
Individually evaluated for impairment	10,107		17,828
Collectively evaluated for impairment	194,436		161,607
Total Loans Receivable	204,543		179,435
Home Equity Line of Credit [Member]
Allowance for loan losses
Individually evaluated for impairment	6		14
Collectively evaluated for impairment	1,090		1,319
Balance, end of period	1,096	1,080	1,333	1,340	1,146	1,580
Loans Receivable
Individually evaluated for impairment	313		1,686
Collectively evaluated for impairment	52,568		54,875
Total Loans Receivable	$ 52,881		$ 56,561
Residential Construction [Member]
Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	$ 240		$ 510
Balance, end of period	$ 240	344	$ 510	569	487	501
Loans Receivable
Individually evaluated for impairment
Collectively evaluated for impairment	$ 7,522		$ 7,823
Total Loans Receivable	7,522		7,823
Other construction and land [Member]
Allowance for loan losses
Individually evaluated for impairment	114		705
Collectively evaluated for impairment	1,282		2,231
Balance, end of period	1,396	1,666	2,936	3,017	3,257	3,516
Loans Receivable
Individually evaluated for impairment	1,708		3,911
Collectively evaluated for impairment	50,335		46,387
Total Loans Receivable	52,043		50,298
Commercial Portfolio Segment [Member]
Allowance for loan losses
Individually evaluated for impairment	37		3
Collectively evaluated for impairment	449		305
Balance, end of period	486	680	308	423	304	336
Loans Receivable
Individually evaluated for impairment	320		328
Collectively evaluated for impairment	35,992		18,807
Total Loans Receivable	$ 36,312		$ 19,135
Consumer Portfolio Segment [Member]
Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	$ 856		$ 285
Balance, end of period	$ 856	$ 814	$ 285	$ 314	$ 339	$ 265
Loans Receivable
Individually evaluated for impairment
Collectively evaluated for impairment	$ 6,085		$ 3,200
Total Loans Receivable	$ 6,085		$ 3,200

ALLOWANCE FOR LOAN LOSSES (De50

ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans reported amount	$ 604,028	$ 543,661
One To Four Family Residential [Member]
Loans reported amount	244,642	227,209
Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	204,543	179,435
Home Equity Line of Credit [Member]
Loans reported amount	52,881	56,561
Residential Construction [Member]
Loans reported amount	7,522	7,823
Other construction and land [Member]
Loans reported amount	52,043	50,298
Commercial Portfolio Segment [Member]
Loans reported amount	36,312	19,135
Consumer Portfolio Segment [Member]
Loans reported amount	6,085	3,200
Graded Loan [Member]
Loans reported amount	387,656	450,617
Graded Loan [Member] | One To Four Family Residential [Member]
Loans reported amount	102,271	179,572
Graded Loan [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	200,459	177,541
Graded Loan [Member] | Home Equity Line of Credit [Member]
Loans reported amount	9,089	29,338
Graded Loan [Member] | Residential Construction [Member]
Loans reported amount	5,467	6,639
Graded Loan [Member] | Other construction and land [Member]
Loans reported amount	36,102	43,060
Graded Loan [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	31,060	13,394
Graded Loan [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	3,208	1,073
Graded Loan [Member] | Loan Grade One [Member]
Loans reported amount	$ 7,772	$ 2,599
Graded Loan [Member] | Loan Grade One [Member] | One To Four Family Residential [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade One [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	$ 66	$ 68
Graded Loan [Member] | Loan Grade One [Member] | Home Equity Line of Credit [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade One [Member] | Residential Construction [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade One [Member] | Other construction and land [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade One [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	$ 7,695	$ 2,511
Graded Loan [Member] | Loan Grade One [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	11	20
Graded Loan [Member] | Loan Grade Two [Member]
Loans reported amount	$ 4,583	$ 100
Graded Loan [Member] | Loan Grade Two [Member] | One To Four Family Residential [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Two [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Two [Member] | Home Equity Line of Credit [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Two [Member] | Residential Construction [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Two [Member] | Other construction and land [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Two [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	$ 99	$ 100
Graded Loan [Member] | Loan Grade Two [Member] | Consumer Portfolio Segment [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Three [Member]
Loans reported amount	$ 33,398	$ 90,180
Graded Loan [Member] | Loan Grade Three [Member] | One To Four Family Residential [Member]
Loans reported amount	18,018	63,065
Graded Loan [Member] | Loan Grade Three [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	10,897	14,356
Graded Loan [Member] | Loan Grade Three [Member] | Home Equity Line of Credit [Member]
Loans reported amount	1,228	5,978
Graded Loan [Member] | Loan Grade Three [Member] | Residential Construction [Member]
Loans reported amount	543	690
Graded Loan [Member] | Loan Grade Three [Member] | Other construction and land [Member]
Loans reported amount	987	5,154
Graded Loan [Member] | Loan Grade Three [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	501	483
Graded Loan [Member] | Loan Grade Three [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	1,224	454
Graded Loan [Member] | Loan Grade Four [Member]
Loans reported amount	132,008	121,411
Graded Loan [Member] | Loan Grade Four [Member] | One To Four Family Residential [Member]
Loans reported amount	44,290	58,948
Graded Loan [Member] | Loan Grade Four [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	57,990	37,349
Graded Loan [Member] | Loan Grade Four [Member] | Home Equity Line of Credit [Member]
Loans reported amount	2,157	10,424
Graded Loan [Member] | Loan Grade Four [Member] | Residential Construction [Member]
Loans reported amount	2,696	2,327
Graded Loan [Member] | Loan Grade Four [Member] | Other construction and land [Member]
Loans reported amount	10,288	9,027
Graded Loan [Member] | Loan Grade Four [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	12,977	2,917
Graded Loan [Member] | Loan Grade Four [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	1,610	419
Graded Loan [Member] | Loan Grade Five [Member]
Loans reported amount	169,002	175,978
Graded Loan [Member] | Loan Grade Five [Member] | One To Four Family Residential [Member]
Loans reported amount	33,412	44,445
Graded Loan [Member] | Loan Grade Five [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	99,191	90,397
Graded Loan [Member] | Loan Grade Five [Member] | Home Equity Line of Credit [Member]
Loans reported amount	5,704	10,486
Graded Loan [Member] | Loan Grade Five [Member] | Residential Construction [Member]
Loans reported amount	1,172	3,048
Graded Loan [Member] | Loan Grade Five [Member] | Other construction and land [Member]
Loans reported amount	20,248	21,024
Graded Loan [Member] | Loan Grade Five [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	8,912	6,399
Graded Loan [Member] | Loan Grade Five [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	363	179
Graded Loan [Member] | Loan Grade Six [Member]
Loans reported amount	20,806	31,283
Graded Loan [Member] | Loan Grade Six [Member] | One To Four Family Residential [Member]
Loans reported amount	2,959	5,714
Graded Loan [Member] | Loan Grade Six [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	$ 14,441	21,232
Graded Loan [Member] | Loan Grade Six [Member] | Home Equity Line of Credit [Member]
Loans reported amount		882
Graded Loan [Member] | Loan Grade Six [Member] | Residential Construction [Member]
Loans reported amount	$ 1,056	574
Graded Loan [Member] | Loan Grade Six [Member] | Other construction and land [Member]
Loans reported amount	1,950	2,451
Graded Loan [Member] | Loan Grade Six [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	$ 400	429
Graded Loan [Member] | Loan Grade Six [Member] | Consumer Portfolio Segment [Member]
Loans reported amount		1
Graded Loan [Member] | Loan Grade Seven [Member]
Loans reported amount	$ 20,087	29,066
Graded Loan [Member] | Loan Grade Seven [Member] | One To Four Family Residential [Member]
Loans reported amount	3,592	7,400
Graded Loan [Member] | Loan Grade Seven [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	$ 13,390	14,139
Graded Loan [Member] | Loan Grade Seven [Member] | Home Equity Line of Credit [Member]
Loans reported amount		$ 1,568
Graded Loan [Member] | Loan Grade Seven [Member] | Residential Construction [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Seven [Member] | Other construction and land [Member]
Loans reported amount
Graded Loan [Member] | Loan Grade Seven [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	$ 476	$ 555
Graded Loan [Member] | Loan Grade Seven [Member] | Consumer Portfolio Segment [Member]
Loans reported amount
UnGraded Loan [Member]
Loans reported amount	$ 216,372	$ 93,044
UnGraded Loan [Member] | One To Four Family Residential [Member]
Loans reported amount	142,371	47,637
UnGraded Loan [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	4,084	1,894
UnGraded Loan [Member] | Home Equity Line of Credit [Member]
Loans reported amount	43,792	27,223
UnGraded Loan [Member] | Residential Construction [Member]
Loans reported amount	2,055	1,184
UnGraded Loan [Member] | Other construction and land [Member]
Loans reported amount	15,941	7,238
UnGraded Loan [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	5,252	5,741
UnGraded Loan [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	2,877	2,127
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member]
Loans reported amount	1,386	2,139
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member] | One To Four Family Residential [Member]
Loans reported amount	$ 935	1,390
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount		158
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member] | Home Equity Line of Credit [Member]
Loans reported amount	$ 404	359
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member] | Residential Construction [Member]
Loans reported amount		65
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member] | Other construction and land [Member]
Loans reported amount	$ 45	$ 165
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member] | Commercial Portfolio Segment [Member]
Loans reported amount
UnGraded Loan [Member] | Nonperforming Financing Receivable [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	$ 2	$ 2
UnGraded Loan [Member] | Performing Financing Receivable [Member]
Loans reported amount	214,986	90,905
UnGraded Loan [Member] | Performing Financing Receivable [Member] | One To Four Family Residential [Member]
Loans reported amount	141,436	46,247
UnGraded Loan [Member] | Performing Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans reported amount	4,084	1,736
UnGraded Loan [Member] | Performing Financing Receivable [Member] | Home Equity Line of Credit [Member]
Loans reported amount	43,388	26,864
UnGraded Loan [Member] | Performing Financing Receivable [Member] | Residential Construction [Member]
Loans reported amount	2,055	1,119
UnGraded Loan [Member] | Performing Financing Receivable [Member] | Other construction and land [Member]
Loans reported amount	15,896	7,073
UnGraded Loan [Member] | Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member]
Loans reported amount	5,252	5,741
UnGraded Loan [Member] | Performing Financing Receivable [Member] | Consumer Portfolio Segment [Member]
Loans reported amount	$ 2,875	$ 2,125

ALLOWANCE FOR LOAN LOSSES (De51

ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 13,162	$ 18,616
Current	590,866	525,045
Total Loans Receivable	604,028	543,661
30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	10,199	10,768
60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	899	2,875
90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,064	4,973
One To Four Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6,056	9,415
Current	238,586	217,794
Total Loans Receivable	244,642	227,209
One To Four Family Residential [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	4,299	6,298
One To Four Family Residential [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	770	448
One To Four Family Residential [Member] | 90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	987	2,669
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	3,875	4,051
Current	200,668	175,384
Total Loans Receivable	204,543	179,435
Commercial Real Estate Portfolio Segment [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	3,187	2,136
Commercial Real Estate Portfolio Segment [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	92	909
Commercial Real Estate Portfolio Segment [Member] | 90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	596	1,006
Home Equity Line of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	742	1,844
Current	52,139	54,717
Total Loans Receivable	52,881	56,561
Home Equity Line of Credit [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	309	557
Home Equity Line of Credit [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	29	528
Home Equity Line of Credit [Member] | 90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 404	759
Residential Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		65
Current	$ 7,522	7,758
Total Loans Receivable	$ 7,522	$ 7,823
Residential Construction [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Residential Construction [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Residential Construction [Member] | 90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 65
Other construction and land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 2,152	2,967
Current	49,891	47,331
Total Loans Receivable	52,043	50,298
Other construction and land [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,070	1,530
Other construction and land [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	7	964
Other construction and land [Member] | 90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	75	473
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	309	22
Current	36,003	19,113
Total Loans Receivable	36,312	$ 19,135
Commercial Portfolio Segment [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 309
Commercial Portfolio Segment [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 22
Commercial Portfolio Segment [Member] | 90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 28	$ 252
Current	6,057	2,948
Total Loans Receivable	6,085	3,200
Consumer Portfolio Segment [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	25	247
Consumer Portfolio Segment [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1	4
Consumer Portfolio Segment [Member] | 90 Days and Over Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 2	$ 1

ALLOWANCE FOR LOAN LOSSES (De52

ALLOWANCE FOR LOAN LOSSES (Details 5) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Balance, without a valuation allowance	$ 13,099	$ 23,612
Unpaid Principal Balance, without a valuation allowance	15,068	27,102
Recorded Balance, Recorded Balance, with a valuation allowance	5,896	10,053
Unpaid Principal Balance, with a valuation allowance	5,914	10,260
Recorded Balance	18,995	33,665
Unpaid Principal Balance	20,982	37,362
Specific Allowance	762	1,676
One To Four Family Residential [Member]
Financing Receivable, Impaired [Line Items]
Recorded Balance, without a valuation allowance	3,907	5,943
Unpaid Principal Balance, without a valuation allowance	3,932	6,096
Recorded Balance, Recorded Balance, with a valuation allowance	2,640	3,969
Unpaid Principal Balance, with a valuation allowance	2,658	4,028
Recorded Balance	6,547	9,912
Unpaid Principal Balance	6,590	10,124
Specific Allowance	536	719
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Recorded Balance, without a valuation allowance	8,308	14,231
Unpaid Principal Balance, without a valuation allowance	9,889	16,515
Recorded Balance, Recorded Balance, with a valuation allowance	1,799	3,597
Unpaid Principal Balance, with a valuation allowance	1,799	3,745
Recorded Balance	10,107	17,828
Unpaid Principal Balance	11,688	20,260
Specific Allowance	69	235
Home Equity Line of Credit [Member]
Financing Receivable, Impaired [Line Items]
Recorded Balance, without a valuation allowance	213	1,537
Unpaid Principal Balance, without a valuation allowance	328	1,912
Recorded Balance, Recorded Balance, with a valuation allowance	100	149
Unpaid Principal Balance, with a valuation allowance	100	149
Recorded Balance	313	1,686
Unpaid Principal Balance	428	2,061
Specific Allowance	$ 6	$ 14
Residential Construction [Member]
Financing Receivable, Impaired [Line Items]
Recorded Balance, without a valuation allowance
Unpaid Principal Balance, without a valuation allowance
Recorded Balance, Recorded Balance, with a valuation allowance
Unpaid Principal Balance, with a valuation allowance
Recorded Balance
Unpaid Principal Balance
Specific Allowance
Other construction and land [Member]
Financing Receivable, Impaired [Line Items]
Recorded Balance, without a valuation allowance	$ 671	$ 1,901
Unpaid Principal Balance, without a valuation allowance	919	2,579
Recorded Balance, Recorded Balance, with a valuation allowance	1,037	2,010
Unpaid Principal Balance, with a valuation allowance	1,037	2,010
Recorded Balance	1,708	3,911
Unpaid Principal Balance	1,956	4,589
Specific Allowance	$ 114	$ 705
Commercial Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Recorded Balance, without a valuation allowance
Unpaid Principal Balance, without a valuation allowance
Recorded Balance, Recorded Balance, with a valuation allowance	$ 320	$ 328
Unpaid Principal Balance, with a valuation allowance	320	328
Recorded Balance	320	328
Unpaid Principal Balance	320	328
Specific Allowance	$ 37	$ 3

ALLOWANCE FOR LOAN LOSSES (De53

ALLOWANCE FOR LOAN LOSSES (Details 6) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Average Investment in Impaired Loans, without a valuation allowance	$ 13,158	$ 27,465	$ 13,482	$ 27,715
Interest Income Recognized, without a valuation allowance	138	279	413	856
Average Investment in Impaired Loans, Interest Income Recognized, with a valuation allowance	5,918	10,236	7,271	10,301
Interest Income Recognized, with a valuation allowance	59	113	175	341
Average Investment in Impaired Loans	19,076	37,701	20,753	38,016
Interest Income Recognized	197	392	588	1,197
One To Four Family Residential [Member]
Average Investment in Impaired Loans, without a valuation allowance	3,941	4,793	4,215	4,918
Interest Income Recognized, without a valuation allowance	45	41	127	119
Average Investment in Impaired Loans, Interest Income Recognized, with a valuation allowance	2,648	5,214	3,190	5,242
Interest Income Recognized, with a valuation allowance	22	53	66	162
Average Investment in Impaired Loans	6,589	10,007	7,405	10,160
Interest Income Recognized	67	94	193	281
Commercial Real Estate Portfolio Segment [Member]
Average Investment in Impaired Loans, without a valuation allowance	8,330	16,208	8,374	16,140
Interest Income Recognized, without a valuation allowance	79	167	257	521
Average Investment in Impaired Loans, Interest Income Recognized, with a valuation allowance	1,805	2,559	1,813	2,574
Interest Income Recognized, with a valuation allowance	20	28	61	84
Average Investment in Impaired Loans	10,135	18,767	10,187	18,714
Interest Income Recognized	99	195	318	605
Home Equity Line of Credit [Member]
Average Investment in Impaired Loans, without a valuation allowance	213	1,832	213	1,891
Interest Income Recognized, without a valuation allowance	6	13	7	39
Average Investment in Impaired Loans, Interest Income Recognized, with a valuation allowance	100	229	100	229
Interest Income Recognized, with a valuation allowance	1	3	3	9
Average Investment in Impaired Loans	313	2,061	313	2,120
Interest Income Recognized	$ 7	$ 16	$ 10	$ 48
Residential Construction [Member]
Average Investment in Impaired Loans, without a valuation allowance
Interest Income Recognized, without a valuation allowance
Average Investment in Impaired Loans, Interest Income Recognized, with a valuation allowance
Interest Income Recognized, with a valuation allowance
Average Investment in Impaired Loans
Interest Income Recognized
Other construction and land [Member]
Average Investment in Impaired Loans, without a valuation allowance	$ 674	$ 4,615	$ 680	$ 4,748
Interest Income Recognized, without a valuation allowance	8	58	22	177
Average Investment in Impaired Loans, Interest Income Recognized, with a valuation allowance	1,043	1,902	1,843	1,920
Interest Income Recognized, with a valuation allowance	11	24	31	71
Average Investment in Impaired Loans	1,717	6,517	2,523	6,668
Interest Income Recognized	$ 19	82	$ 53	248
Commercial Portfolio Segment [Member]
Average Investment in Impaired Loans, without a valuation allowance		$ 17		$ 18
Interest Income Recognized, without a valuation allowance
Average Investment in Impaired Loans, Interest Income Recognized, with a valuation allowance	$ 322	$ 332	$ 325	$ 336
Interest Income Recognized, with a valuation allowance	5	5	14	15
Average Investment in Impaired Loans	322	349	325	354
Interest Income Recognized	$ 5	$ 5	$ 14	$ 15

ALLOWANCE FOR LOAN LOSSES (De54

ALLOWANCE FOR LOAN LOSSES (Details 7) - Nonperforming Financing Receivable [Member] - Loans [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual	$ 7,601	$ 16,780
One To Four Family Residential [Member]
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual	2,823	5,661
Commercial Real Estate Portfolio Segment [Member]
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual	3,914	7,011
Home Equity Line of Credit [Member]
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual	$ 403	1,347
Residential Construction [Member]
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual		65
Other construction and land [Member]
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual	$ 392	2,679
Commercial Portfolio Segment [Member]
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual	67	15
Consumer Portfolio Segment [Member]
Non Performing Loan Receivables and Other Assets [Line Items]
Finance receivable, non-accrual	$ 2	$ 2

ALLOWANCE FOR LOAN LOSSES (De55

ALLOWANCE FOR LOAN LOSSES (Details 8) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Modifications [Line Items]
TDR loans	$ 15,878	$ 23,960
Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	12,639	18,760
Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	3,239	5,200
One To Four Family Residential [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	4,418	6,475
One To Four Family Residential [Member] | Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	$ 4,418	5,760
One To Four Family Residential [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans		715
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	$ 9,150	14,507
Commercial Real Estate Portfolio Segment [Member] | Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	6,183	10,710
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	2,967	3,797
Home Equity Line of Credit [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	313	443
Home Equity Line of Credit [Member] | Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	$ 313	$ 443
Home Equity Line of Credit [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans
Residential Construction [Member]
Financing Receivable, Modifications [Line Items]
TDR loans
Residential Construction [Member] | Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans
Residential Construction [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans
Other construction and land [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	$ 1,664	$ 2,191
Other construction and land [Member] | Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	1,405	1,519
Other construction and land [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	259	672
Commercial Portfolio Segment [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	333	344
Commercial Portfolio Segment [Member] | Performing Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	320	328
Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Modifications [Line Items]
TDR loans	$ 13	$ 16

ALLOWANCE FOR LOAN LOSSES (De56

ALLOWANCE FOR LOAN LOSSES (Details 9) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Number	Sep. 30, 2014USD ($)Number	Sep. 30, 2015USD ($)Number	Sep. 30, 2014USD ($)Number
Forgiveness Of Principal [Member]
Number of Loans | Number			1
Pre-modification Outstanding Recorded Investment			$ 1,988
Post-modification Outstanding Recorded Investment			$ 1,693
Forgiveness Of Principal [Member] | Commercial Real Estate Portfolio Segment [Member]
Number of Loans | Number			1
Pre-modification Outstanding Recorded Investment			$ 1,988
Post-modification Outstanding Recorded Investment			$ 1,693
Below Market Interest Rate [Member]
Number of Loans | Number		2		5
Pre-modification Outstanding Recorded Investment		$ 431		$ 890
Post-modification Outstanding Recorded Investment		$ 431		$ 797
Number of Loans Recorded Investment | Number		1		2
Recorded Investment		$ 50		$ 185
Below Market Interest Rate [Member] | Commercial Real Estate Portfolio Segment [Member]
Number of Loans | Number		1		1
Pre-modification Outstanding Recorded Investment		$ 280		$ 280
Post-modification Outstanding Recorded Investment		$ 280		$ 280
Below Market Interest Rate [Member] | One To Four Family Residential [Member]
Number of Loans | Number				2
Pre-modification Outstanding Recorded Investment				$ 409
Post-modification Outstanding Recorded Investment				$ 326
Number of Loans Recorded Investment | Number				1
Recorded Investment				$ 135
Below Market Interest Rate [Member] | Home Equity Line of Credit [Member]
Number of Loans | Number				1
Pre-modification Outstanding Recorded Investment				$ 50
Post-modification Outstanding Recorded Investment				$ 40
Number of Loans Recorded Investment | Number		1		1
Recorded Investment		$ 50		$ 50
Below Market Interest Rate [Member] | Other construction and land [Member]
Number of Loans | Number		1		1
Pre-modification Outstanding Recorded Investment		$ 151		$ 151
Post-modification Outstanding Recorded Investment		$ 151		$ 151
Number of Loans Recorded Investment | Number
Recorded Investment
Extended Payment Term [Member]
Number of Loans | Number				10
Pre-modification Outstanding Recorded Investment				$ 7,508
Post-modification Outstanding Recorded Investment				$ 5,940
Extended Payment Term [Member] | Commercial Real Estate Portfolio Segment [Member]
Number of Loans | Number				7
Pre-modification Outstanding Recorded Investment				$ 6,770
Post-modification Outstanding Recorded Investment				$ 5,332
Number of Loans Recorded Investment | Number				1
Recorded Investment				$ 215
Extended Payment Term [Member] | Other construction and land [Member]
Number of Loans | Number				2
Pre-modification Outstanding Recorded Investment				$ 720
Post-modification Outstanding Recorded Investment				$ 596
Extended Payment Term [Member] | Commercial Portfolio Segment [Member]
Number of Loans | Number				1
Pre-modification Outstanding Recorded Investment				$ 18
Post-modification Outstanding Recorded Investment				$ 12

REAL ESTATE OWNED (Details)

REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Real Estate Owned Details
Real estate owned, gross	$ 6,928		$ 6,185
Less: Valuation allowance	1,549	$ 1,558	1,760	$ 1,297	$ 2,661	$ 5,560
Real estate owned, net	$ 5,379		$ 4,425

REAL ESTATE OWNED (Details 2)

REAL ESTATE OWNED (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Real Estate Owned Details 2
Valuation allowance, beginning	$ 1,558	$ 2,661	$ 1,760	$ 5,560
Provision charged to expense	80	411	171	1,508
Reduction due to disposal	(89)	(1,775)	(382)	(5,771)
Valuation allowance, ending	$ 1,549	$ 1,297	$ 1,549	$ 1,297

REAL ESTATE OWNED (Details Narr

REAL ESTATE OWNED (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Real estate acquired through foreclosure	$ 6,928	$ 6,185
Residential Real Estate [Member]
Real estate acquired through foreclosure	700
Other real estate	$ 1,400

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Deposits By Type [Line Items]
Balance	$ 683,073	$ 710,673	$ 683,073	$ 710,673	$ 703,117
Interest Expense	1,014	1,362	3,372	4,051	5,361
Noninterest-bearing demand [Member]
Deposits By Type [Line Items]
Balance	100,413	82,381	$ 100,413	$ 82,381	86,110
Interest Expense
Interest-bearing Deposits [Member]
Deposits By Type [Line Items]
Balance	101,182	88,669	$ 101,182	$ 88,669	92,877
Interest Expense			108	108	149
Money Market Funds [Member]
Deposits By Type [Line Items]
Balance	170,995	188,141	170,995	188,141	178,320
Interest Expense			425	753	983
Savings Deposits [Member]
Deposits By Type [Line Items]
Balance	31,468	28,115	31,468	28,115	27,591
Interest Expense			24	27	36
Time deposit [Member]
Deposits By Type [Line Items]
Balance	$ 279,015	$ 323,367	279,015	323,367	318,219
Interest Expense			$ 2,815	$ 3,163	$ 4,193

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal Home Loan Bank, Advances [Abstract]
2,015	$ 57,000	$ 20,000
2,016	55,000	10,000
2,017	8,000	$ 5,000
2,018	2,000
2,019	12,500	$ 10,000
2,020	1,000	15,000
Total	$ 135,500	$ 60,000	$ 15,000
Federal Home Loan Bank, Advances, Weighted Average Rate [Abstract]
2,015	0.31%	0.33%
2,016	0.61%	0.84%
2,017	1.23%	1.38%
2,018	1.25%
2,019	1.82%	1.83%
2,020	1.78%	2.79%
Total	0.65%	1.37%	2.56%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Deferred tax assets:
Allowance for loan losses	$ 3,622	$ 4,235
Deferred compensation and post employment benefits	3,554	3,514
Non-accrual interest	251	202
Valuation reserve for other real estate	583	673
North Carolina NOL carryover	1,017	1,404
Federal NOL carryover	11,150	12,392
Unrealized losses on securities	(49)	867
Other	703	393
Gross deferred tax assets	20,831	23,680
Less: valuation allowance	(764)	(19,810)
Total deferred tax assets	20,067	3,870
Deferred tax liabilities:
Fixed assets	301	461
Loan servicing rights	953	813
Deferred loan costs	587	413
Prepaid expenses	129	94
Total deferred tax liabilities	1,970	1,781
Net deferred tax asset	$ 18,097	$ 2,089

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share Details
Net income	$ 2,165	$ 1,882	$ 21,885	$ 4,641
Weighted-average common shares outstanding - basic	6,546,375		6,546,375
Effect of dilutive securities
Weighted-average common shares outstanding - diluted	6,546,375		6,546,375
Earnings per share - basic	$ 0.33		$ 3.34
Earnings per share - diluted	$ 0.33		$ 3.34

ACCUMULATED OTHER COMPREHENSI64

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Balance, beginning of period	$ (2,166)	$ (3,311)	$ (2,269)	$ (7,476)
Change in deferred tax valuation allowance attributable to unrealized (gain) loss on investment securities available for sale	95	(278)	149	1,315
Change in unrealized holding gain (loss) on securities available for sale	2,172	(505)	2,020	3,939
Reclassification adjustment for net securities gains realized in net income	$ (35)	$ (273)	$ (322)	$ (652)
Transfer of net unrealized loss from available for sale to held to maturity
Amortization of unrealized gains and losses on securities transferred to held to maturity	$ 163	$ 50	$ 705	$ 150
Income tax benefit (expense)	(867)	278	(921)	(1,315)
Balance, end of period	(638)	(4,039)	(638)	(4,039)
Available-for-sale Securities [Member]
Balance, beginning of period	$ (512)	$ (818)	$ (236)	$ (3,374)
Change in deferred tax valuation allowance attributable to unrealized (gain) loss on investment securities available for sale
Change in unrealized holding gain (loss) on securities available for sale	$ 2,172	$ (505)	$ 2,020	$ 3,939
Reclassification adjustment for net securities gains realized in net income	$ (35)	$ (273)	$ (322)	(652)
Transfer of net unrealized loss from available for sale to held to maturity				$ 74
Amortization of unrealized gains and losses on securities transferred to held to maturity
Income tax benefit (expense)	$ (807)	$ 298	$ (644)	$ (1,285)
Balance, end of period	818	(1,298)	818	(1,298)
Held-to-maturity Securities [Member]
Balance, beginning of period	$ (840)	$ (1,226)	$ (1,165)	$ (1,242)
Change in deferred tax valuation allowance attributable to unrealized (gain) loss on investment securities available for sale
Change in unrealized holding gain (loss) on securities available for sale
Reclassification adjustment for net securities gains realized in net income
Transfer of net unrealized loss from available for sale to held to maturity				$ (74)
Amortization of unrealized gains and losses on securities transferred to held to maturity	$ 163	$ 50	$ 705	150
Income tax benefit (expense)	(60)	(20)	(277)	(30)
Balance, end of period	(737)	(1,196)	(737)	(1,196)
Valuation Allowance of Deferred Tax Assets [Member]
Balance, beginning of period	(814)	(1,267)	(868)	(2,860)
Change in deferred tax valuation allowance attributable to unrealized (gain) loss on investment securities available for sale	$ 95	$ (278)	$ 149	$ 1,315
Change in unrealized holding gain (loss) on securities available for sale
Reclassification adjustment for net securities gains realized in net income
Transfer of net unrealized loss from available for sale to held to maturity
Amortization of unrealized gains and losses on securities transferred to held to maturity
Income tax benefit (expense)
Balance, end of period	$ (719)	$ (1,545)	$ (719)	$ (1,545)

ACCUMULATED OTHER COMPREHENSI65

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Impact, net of tax	$ 198	$ 323	$ 1,027	$ 802
Gain on sale of investments, net [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before tax	$ 35	$ 273	$ 322	$ 652
Tax effect
Impact, net of tax	$ 35	$ 273	$ 322	$ 652
Investment Income (Expense) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before tax	$ 163	$ 50	$ 705	$ 150
Tax effect
Impact, net of tax	$ 163	$ 50	$ 705	$ 150

COMMITMENTS AND CONTINGENCIES66

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Sep. 30, 2015USD ($)
Other Commitments [Line Items]
Commitments to fund lines of credit	$ 70,587
Standby Letters of Credit [Member]
Other Commitments [Line Items]
Commitments to fund lines of credit	708
Line of Credit [Member]
Other Commitments [Line Items]
Commitments to fund lines of credit	$ 69,879

COMMITMENTS AND CONTINGENCIES67

COMMITMENTS AND CONTINGENCIES (Details 2) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Fixed	$ 8,337
Variable	36,279
Total	$ 44,616
Minimum [Member]
Fixed	2.99%
Variable	2.99%
Maximum [Member]
Fixed	5.00%
Variable	6.25%

COMMITMENTS AND CONTINGENCIES68

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Mortgage Loans Sold to Federal National Mortgage Association[Member]
Loss Contingencies [Line Items]
Allowance for unfunded commitments	$ 100
Obligation for representations and warranties, reserve		$ 300
Commitments to Extend Credit [Member]
Loss Contingencies [Line Items]
Allowance for unfunded commitments		$ 100
Obligation for representations and warranties, reserve	$ 300

FAIR VALUE DISCLOSURES (Details

FAIR VALUE DISCLOSURES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	$ 232,014	$ 222,107
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	227,466	217,758
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	2,140	2,101
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	2,408	2,248
Loan Servicing Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	2,318	2,187
Loan Servicing Rights [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	2,318	2,187
Forward Sales Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	12	9
Forward Sales Commitments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	12	9
Interest Rate Lock Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	78	52
Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	78	52
Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	229,606	219,859
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	227,466	217,758
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	2,140	2,101
Available-for-sale Securities [Member] | Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	35,865	25,558
Available-for-sale Securities [Member] | Municipal Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	35,865	25,558
Available-for-sale Securities [Member] | Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	163,120	152,718
Available-for-sale Securities [Member] | Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	163,120	152,718
Available-for-sale Securities [Member] | Mutual funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	604	591
Available-for-sale Securities [Member] | Mutual funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	604	591
Available-for-sale Securities [Member] | US Government Corporations and Agencies Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	28,481	39,482
Available-for-sale Securities [Member] | US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	28,481	39,482
Available-for-sale Securities [Member] | U.S. Treasury securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	1,536	1,510
Available-for-sale Securities [Member] | U.S. Treasury securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	$ 1,536	$ 1,510

FAIR VALUE DISCLOSURES (Detai70

FAIR VALUE DISCLOSURES (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value Disclosures Details 2
Balance at beginning of period	$ 2,176	$ 2,156	$ 2,248	$ 1,888
Capitalization from loans sold	215	68	431	278
Fair value adjustment	(55)	(93)	(300)	(97)
Mortgage derivative gains included in Other income	72	(25)	29	(37)
Balance at end of period	$ 2,408	$ 2,106	$ 2,408	$ 2,106

FAIR VALUE DISCLOSURES (Detai71

FAIR VALUE DISCLOSURES (Details 3) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets measured at fair value on nonrecurring basis	$ 18,865	$ 29,066
Fair Value, Inputs, Level 3 [Member]
Assets measured at fair value on nonrecurring basis	18,865	29,066
Impaired Loans [Member] | One To Four Family Residential [Member]
Assets measured at fair value on nonrecurring basis	4,276	6,407
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member]
Assets measured at fair value on nonrecurring basis	8,308	14,551
Impaired Loans [Member] | Home Equity Line of Credit [Member]
Assets measured at fair value on nonrecurring basis	213	1,456
Impaired Loans [Member] | Other construction and land [Member]
Assets measured at fair value on nonrecurring basis	689	2,227
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | One To Four Family Residential [Member]
Assets measured at fair value on nonrecurring basis	4,276	6,407
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member]
Assets measured at fair value on nonrecurring basis	8,308	14,551
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Home Equity Line of Credit [Member]
Assets measured at fair value on nonrecurring basis	213	1,456
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Other construction and land [Member]
Assets measured at fair value on nonrecurring basis	689	2,227
Real Estate Owned [Member] | One To Four Family Residential [Member]
Assets measured at fair value on nonrecurring basis	1,422	220
Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member]
Assets measured at fair value on nonrecurring basis	1,034	774
Real Estate Owned [Member] | Other construction and land [Member]
Assets measured at fair value on nonrecurring basis	2,923	3,431
Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | One To Four Family Residential [Member]
Assets measured at fair value on nonrecurring basis	1,422	220
Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member]
Assets measured at fair value on nonrecurring basis	1,034	774
Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Other construction and land [Member]
Assets measured at fair value on nonrecurring basis	$ 2,923	$ 3,431

FAIR VALUE DISCLOSURES (Detai72

FAIR VALUE DISCLOSURES (Details 4)	9 Months Ended
	Sep. 30, 2015
Impaired Loans [Member] | Discounted Appraised Value [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Unobservable Input	Collateral discounts and estimated selling cost
Valuation Technique	Discounted Appraisals
Impaired Loans [Member] | Discounted Appraised Value [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral discounts and estimated selling cost	0.00%
Impaired Loans [Member] | Discounted Appraised Value [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral discounts and estimated selling cost	30.00%
Real Estate Owned [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Unobservable Input	Collateral discounts and estimated selling cost
Valuation Technique	Discounted Appraisals
Real Estate Owned [Member] | Discounted Appraised Value [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral discounts and estimated selling cost	0.00%
Real Estate Owned [Member] | Discounted Appraised Value [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral discounts and estimated selling cost	30.00%
Loan Servicing Rights [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Valuation Technique	Discounted Cash Flows
Loan Servicing Rights [Member] | Discounted Cash Flow Method [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Prepayment Speed	5.00%
Discount rate	9.00%
Loan Servicing Rights [Member] | Discounted Cash Flow Method [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Prepayment Speed	30.00%
Discount rate	12.00%
Forward Sales Commitments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Unobservable Input	Value of underlying loan
Valuation Technique	Change in market price of underlying loan
Forward Sales Commitments [Member] | Change in Market Price of Underling Loan [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Value of underlying loan rate	101.00%
Forward Sales Commitments [Member] | Change in Market Price of Underling Loan [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Value of underlying loan rate	108.00%

FAIR VALUE DISCLOSURES (Detai73

FAIR VALUE DISCLOSURES (Details 5) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets:
Cash and equivalents	$ 42,410	$ 58,982	$ 84,093	$ 34,316
Securities available for sale	229,606	219,859
Securities held to maturity	38,582	29,285
Loans held for sale	4,771	10,761
Other investments, at cost	8,069	4,908
Interest receivable	3,366	2,925
Bank owned life insurance	20,748	20,417
Loan servicing rights	2,318	2,187
Liabilities:
Federal Home Loan Bank advances	135,500	60,000		$ 15,000
Junior subordinated debentures	14,433	14,433
Accrued interest payable	205	323
Reported Value Measurement [Member]
Assets:
Cash and equivalents	42,410	58,982
Securities available for sale	229,606	219,859
Securities held to maturity	38,582	29,285
Loans held for sale	4,771	10,761
Loans receivable, net	601,539	529,407
Other investments, at cost	8,069	4,908
Interest receivable	3,366	2,925
Bank owned life insurance	20,748	20,417
Loan servicing rights	2,318	2,187
Liabilities:
Demand deposits	404,058	384,898
Time deposits	279,015	318,219
Federal Home Loan Bank advances	135,500	60,000
Junior subordinated debentures	14,433	14,433
Accrued interest payable	205	323
Reported Value Measurement [Member] | Forward Sales Commitments [Member]
Assets:
Commitments	12	9
Reported Value Measurement [Member] | Interest Rate Lock Commitments [Member]
Assets:
Commitments	78	52
Portion at Fair Value Measurement [Member]
Assets:
Cash and equivalents	42,410	58,982
Securities available for sale	229,606	219,859
Securities held to maturity	39,748	30,890
Loans held for sale	5,023	11,501
Loans receivable, net	608,345	546,450
Other investments, at cost	8,069	4,908
Interest receivable	3,366	2,925
Bank owned life insurance	20,748	20,417
Loan servicing rights	2,318	2,187
Liabilities:
Demand deposits	404,058	384,898
Time deposits	281,836	321,491
Federal Home Loan Bank advances	138,367	62,108
Junior subordinated debentures	14,433	14,433
Accrued interest payable	205	323
Portion at Fair Value Measurement [Member] | Forward Sales Commitments [Member]
Assets:
Commitments	12	9
Portion at Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member]
Assets:
Commitments	$ 78	$ 52
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Cash and equivalents
Securities available for sale
Securities held to maturity
Loans held for sale
Loans receivable, net	$ 608,345	$ 546,450
Other investments, at cost
Interest receivable
Bank owned life insurance
Loan servicing rights	$ 2,318	$ 2,187
Liabilities:
Demand deposits
Time deposits	$ 281,836	$ 321,491
Federal Home Loan Bank advances
Junior subordinated debentures
Accrued interest payable
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Forward Sales Commitments [Member]
Assets:
Commitments	$ 12	$ 9
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Lock Commitments [Member]
Assets:
Commitments	78	52
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash and equivalents	42,410	58,982
Securities available for sale	$ 2,140	$ 2,101
Securities held to maturity
Loans held for sale
Loans receivable, net
Other investments, at cost
Interest receivable
Bank owned life insurance
Loan servicing rights
Liabilities:
Demand deposits
Time deposits
Federal Home Loan Bank advances
Junior subordinated debentures
Accrued interest payable
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Cash and equivalents
Securities available for sale	$ 227,466	$ 217,758
Securities held to maturity	39,748	30,890
Loans held for sale	$ 5,023	$ 11,501
Loans receivable, net
Other investments, at cost	$ 8,069	$ 4,908
Interest receivable	3,366	2,925
Bank owned life insurance	$ 20,748	$ 20,417
Loan servicing rights
Liabilities:
Demand deposits	$ 404,058	$ 384,898
Time deposits
Federal Home Loan Bank advances	$ 138,367	$ 62,108
Junior subordinated debentures	14,433	14,433
Accrued interest payable	$ 205	$ 323