BSB Bancorp Inactive 10-Q6 May 152015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015	1-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	BLMT
Entity Registrant Name	BSB BANCORP, INC.
Entity Central Index Key	1522420
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,070,321

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$2,001	$2,275
Interest-bearing deposits in other banks	39,091	49,492
Cash and cash equivalents	41,092	51,767
Interest-bearing time deposits with other banks	131	131
Investments in available-for-sale securities	22,197	22,079
Investments in held-to-maturity securities (fair value of $120,876 as of March 31, 2015 (unaudited) and $119,447 as of December 31, 2014)	119,010	118,528
Federal Home Loan Bank stock, at cost	15,082	13,712
Loans, net of allowance for loan losses of $9,203 as of March 31, 2015 (unaudited) and $8,881 as of December 31, 2014	1,231,068	1,179,399
Premises and equipment, net	2,929	3,066
Accrued interest receivable	3,065	2,977
Deferred tax asset, net	5,316	5,642
Income taxes receivable	497	321
Bank-owned life insurance	24,074	23,888
Other assets	4,182	4,040
Total assets	1,468,643	1,425,550
Deposits:
Noninterest-bearing	174,904	179,205
Interest-bearing	868,095	805,357
Total deposits	1,042,999	984,562
Federal Home Loan Bank advances	269,100	285,100
Securities sold under agreements to repurchase	1,632	1,392
Other borrowed funds	1,055	1,067
Accrued interest payable	1,078	961
Deferred compensation liability	6,000	5,751
Other liabilities	7,834	9,707
Total liabilities	1,329,698	1,288,540
Stockholders' Equity:
Common stock; $0.01 par value, 100,000,000 shares authorized; 9,069,808 and 9,067,792shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	91	91
Additional paid-in capital	87,868	87,428
Retained earnings	54,977	53,603
Accumulated other comprehensive income (loss)	61	-22
Unearned compensation - ESOP	-4,052	-4,090
Total stockholders' equity	138,945	137,010
Total liabilities and stockholders' equity	$1,468,643	$1,425,550

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Investments in held-to-maturity securities, fair value	$120,876	$119,447
Loans, allowance for loan losses	$9,203	$8,881
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	9,069,808	9,067,792
Common stock, shares outstanding	9,069,808	9,067,792

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Interest and dividend income:
Interest and fees on loans	$10,232	$7,893
Interest on taxable debt securities	741	806
Dividends	58	29
Other interest income	21	21
Total interest and dividend income	11,052	8,749
Interest expense:
Interest on deposits	1,755	1,168
Interest on Federal Home Loan Bank advances	531	251
Interest on securities sold under agreements to repurchase	1	1
Interest on other borrowed funds	7	8
Total interest expense	2,294	1,428
Net interest and dividend income	8,758	7,321
Provision for loan losses	338	388
Net interest and dividend income after provision for loan losses	8,420	6,933
Noninterest income:
Customer service fees	212	218
Income from bank-owned life insurance	186	99
Net gain on sales of loans	40	62
Loan servicing fee income	161	217
Other income	158	128
Total noninterest income	757	724
Noninterest expense:
Salaries and employee benefits	4,344	4,124
Director compensation	277	304
Occupancy expense	293	278
Equipment expense	145	153
Deposit insurance	218	184
Data processing	755	751
Professional fees	212	230
Marketing	252	259
Other expense	440	390
Total noninterest expense	6,936	6,673
Income before income tax expense	2,241	984
Income tax expense	867	304
Net income	$1,374	$680
Earnings per share
Basic	$0.16	$0.08
Diluted	$0.16	$0.08

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net income	$1,374	$680
Other comprehensive income, before tax:
Change in fair value of securities available for sale	136	195
Reclassification adjustment for realized gains in net income	0	0
Other comprehensive income, before tax	136	195
Income tax expense related to items of other comprehensive income	-53	-78
Other comprehensive income, net of tax	83	117
Comprehensive income	$1,457	$797

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Stockholders' Equity (USD $)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Employee Stock Ownership Plan Unearned Compensation
In Thousands, except Share data	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Employee Stock Ownership Plan Unearned Compensation
Beginning Balance at Dec. 31, 2013	$130,421	$91	$85,449	$49,312	($188)	($4,243)
Beginning Balance (in shares) at Dec. 31, 2013		9,055,808
Net income	680			680
Other comprehensive income	117				117
Release of ESOP stock	63		25			38
Stock based compensation-restricted stock awards	245		245
Stock based compensation-stock options	232		232
Tax benefit from stock based compensation	11		11
Stock option exercises	0	0	0	0	0	0
Stock option exercises (in shares)		1,682
Ending balance at Mar. 31, 2014	131,769	91	85,962	49,992	-71	-4,205
Ending balance (in shares) at Mar. 31, 2014		9,057,490
Beginning Balance at Dec. 31, 2014	137,010	91	87,428	53,603	-22	-4,090
Beginning Balance (in shares) at Dec. 31, 2014	9,067,792	9,067,792
Net income	1,374			1,374
Other comprehensive income	83				83
Release of ESOP stock	72		34			38
Stock based compensation-restricted stock awards	208		208
Stock based compensation-stock options	188		188
Tax benefit from stock based compensation	10		10
Stock option exercises	0	0	0	0	0	0
Stock option exercises (in shares)		2,016
Ending balance at Mar. 31, 2015	$138,945	$91	$87,868	$54,977	$61	($4,052)
Ending balance (in shares) at Mar. 31, 2015	9,069,808	9,069,808

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$1,374	$680
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net	157	130
Gain on sales of loans, net	-40	-62
Loans originated for sale	-1,834
Proceeds from sales of loans	1,874	6,117
Provision for loan losses	338	388
Change in net unamortized mortgage premiums	-104	-78
Change in net deferred loan costs	-97	-686
ESOP expense	72	63
Stock based compensation expense	396	477
Excess tax benefit from stock based compensation	-10	-11
Depreciation and amortization expense	188	193
Write off of premises and equipment		3
Deferred income tax expense	273	110
Increase in bank-owned life insurance	-186	-99
Net change in:
Accrued interest receivable	-88	-190
Other assets	-142	-137
Income taxes receivable	-166	-25
Income taxes payable		-178
Accrued interest payable	117	50
Deferred compensation liability	249	99
Other liabilities	-1,582	672
Net cash provided by operating activities	789	7,516
Cash flows from investing activities:
Maturities of interest-bearing time deposits with other banks		119
Purchases of interest-bearing time deposits with other banks		-131
Proceeds from maturities, payments, and calls of held-to-maturity securities	4,523	5,642
Purchases of held-to-maturity securities	-5,144	-9,908
Purchases of Federal Home Loan Bank stock	-1,370	-2,386
Recoveries of loans previously charged off	13	5
Loan originations and principal collections, net	-15,782	-65,828
Purchases of loans	-36,037	-28,432
Capital expenditures	-51	-159
Premiums paid on bank-owned life insurance		-5
Net cash used in investing activities	-53,848	-101,083
Cash flows from financing activities:
Net increase in demand deposits, NOW and savings accounts	32,635	45,371
Net increase in time deposits	25,802	17,602
Net proceeds from (repayments of) long-term Federal Home Loan Bank borrowings	15,000	-1,000
Net change in short-term advances	-31,000	50,000
Net increase in securities sold under agreement to repurchase	240	280
Repayment of principal on other borrowed funds	-12	-12
Net (decrease) increase in mortgagors' escrow accounts	-291	138
Excess tax benefit from stock based compensation	10	11
Net cash provided by financing activities	42,384	112,390
Net (decrease) increase in cash and cash equivalents	-10,675	18,823
Cash and cash equivalents at beginning of period	51,767	38,035
Cash and cash equivalents at end of period	41,092	56,858
Supplemental disclosures:
Interest paid	2,177	1,378
Income taxes paid	$761	$397

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2015
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION
	The accompanying unaudited consolidated financial statements of BSB Bancorp, Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The consolidated financial statements of BSB Bancorp, Inc. include the balances and results of operations of BSB Bancorp, Inc., a Maryland corporation, and its wholly-owned subsidiaries, Belmont Savings Bank and BSB Funding Corporation (referred to herein as “the Company,” “we,” “us,” or “our”). Intercompany transactions and balances are eliminated in the consolidation.
	In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the Company’s financial position as of March 31, 2015 and December 31, 2014 and the results of operations and cash flows for the interim periods ended March 31, 2015 and 2014. All interim amounts have not been audited, and the results of operations for the interim periods herein are not necessarily indicative of the results of operations to be expected for the fiscal year. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
	Certain previously reported amounts have been reclassified to conform to the current period’s presentation.

RECENT_ACCOUNTING_STANDARDS_UP

RECENT ACCOUNTING STANDARDS UPDATES	3 Months Ended
RECENT ACCOUNTING STANDARDS UPDATES	Mar. 31, 2015
RECENT ACCOUNTING STANDARDS UPDATES	NOTE 2 – RECENT ACCOUNTING STANDARDS UPDATES
	In January 2014, the Financial Accounting Standards Board (“FASB”) issued amendments to ASC 310-40 “Receivables-Troubled Debt Restructurings by Creditors” through issuance of Accounting Standards Update (“ASU”) 2014-4 “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” The objective of the amendments in this ASU is to reduce diversity by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.
	In April 2014, the FASB issued amendments to ASC 205 “Presentation of Financial Statements” and ASC 360 “Property, Plant, and Equipment” through issuance of ASU 2014-8 “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” This ASU changes the criteria for reporting discontinued operations and modifies related disclosure requirements. The new guidance is effective on a prospective basis for fiscal years beginning on or after December 15, 2014, and interim periods within those years. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.
	In May 2014, the FASB issued amendments to ASC 606 “Revenue from Contracts with Customers” through issuance of ASU No. 2014-09, “Revenue from Contracts with Customers.” The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements.

	In June 2014, the FASB issued amendments to ASC 860 “Transfers and Servicing” through issuance of ASU 2014-11 “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” These amendments change the accounting for repurchase-to-maturity transactions which are repurchase agreements where the maturity of the security transferred as collateral matches the maturity of the repurchase agreement. Under ASU 2014-11, all repurchase-to-maturity transactions will be accounted for as secured borrowing transactions in the same way as other repurchase agreements rather than as sales of a financial asset and forward commitment to repurchase. The amendments also change the accounting for repurchase financing arrangements which are transactions involving the transfer of a financial asset to a counterparty executed contemporaneously with a reverse repurchase agreement with the same counterparty. Under ASU 2014-11, all repurchase financings will now be accounted for separately, which will result in secured borrowing accounting for the reverse repurchase agreement. ASU 2014-11 also introduces new disclosure requirements regarding repurchase agreements and securities lending transactions as well as certain other transactions which involve the transfer of financial assets accounted for as sales and where the transferor retains substantially all of the exposure to the economic return on the transferred assets. ASU 2014-11 is effective for interim or annual periods beginning after December 15, 2014 with early adoption prohibited. As of adoption date, the accounting for all outstanding repurchase-to-maturity transactions and repurchase financing arrangements is adjusted by means of a cumulative-effect adjustment to the balance sheet and retained earnings. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.
	In June 2014, the FASB issued amendments to ASC 718 “Compensation—Stock Compensation” through the issuance of ASU 2014-12 “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The amendments clarify the proper method of accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.
	In August 2014, the FASB issued amendments to ASC 810 “Consolidation” through the issuance of ASU 2014-13, “Consolidation: Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity.” This ASU applies to entities that meet the following criteria:
	1. they are required to consolidate a collateralized entity under the Variable Interest Entities guidance;
	2. they measure all of the financial assets and the financial liabilities of that consolidated collateralized financing entity at fair value in the consolidated financial statements based on other FASB rules; and
	3. those changes in fair value are reflected in earnings.
	Under ASU 2014-13, entities that meet these criteria are provided an alternative under which they can choose to eliminate the difference between the fair value of financial assets and financial liabilities of a consolidated collateralized financing entity. If that alternative is not elected, then ASU 2014-13 indicates that the fair value of the financial assets and the fair value of the financial liabilities of the consolidated collateralized financing entity should be measured in accordance with ASC 820. Differences between the fair value of the financial assets and the financial liabilities of that consolidated collateralized financing entity should be reflected in earnings and attributed to the reporting entity in the consolidated statement of income or loss. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.
	In August 2014, the FASB issued amendments to ASC 310-40, “Receivables - Troubled Debt Restructurings by Creditors” through issuance of ASU 2014-14: “Classification of Certain Government - Guaranteed Mortgage Loans upon Foreclosure.” The amendments in this ASU require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met:
	1. the loan has a government guarantee that is not separable from the loan before foreclosure;
	2. at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and
	3. at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed.
	Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements.

	In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements – Going Concern (Subtopic 205-40).” The amendments in this ASU provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.
	In November 2014, the FASB issued ASU 2014-16, “Derivatives and Hedging (Topic 815).” The objective of this ASU is to eliminate the use of different methods in practice and thereby reduce existing diversity under GAAP in the accounting for hybrid financial instruments issued in the form of a share. The amendments in this ASU apply to all entities that are issuers of, or investors in, hybrid financial instruments that are issued in the form of a share. The amendments in this ASU do not change the current criteria in GAAP for determining when separation of certain embedded derivative features in a hybrid financial instrument is required. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. Specifically, the amendments clarify that an entity should consider all relevant terms and features, including the embedded derivative feature being evaluated for bifurcation, in evaluating the nature of the host contract. Furthermore, the amendments clarify that no single term or feature would necessarily determine the economic characteristics and risks of the host contract. Rather, the nature of the host contract depends upon the economic characteristics and risks of the entire hybrid financial instrument. In addition, the amendments in this ASU clarify that, in evaluating the nature of a host contract, an entity should assess the substance of the relevant terms and features when considering how to weight those terms and features. Specifically, the assessment of the substance of the relevant terms and features should incorporate a consideration of (1) the characteristics of the terms and features themselves, (2) the circumstances under which the hybrid financial instrument was issued or acquired, and (3) the potential outcomes of the hybrid financial instrument, as well as the likelihood of those potential outcomes. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.
	In November 2014, the FASB issued ASU 2014-17, “Business Combinations (Topic 805): Pushdown Accounting.” The amendments in this ASU provide guidance on whether and at what threshold an acquired entity that is a business or nonprofit activity may elect to apply pushdown accounting in its separate financial statements upon a change-in-control event in which an acquirer obtains control of the acquired entity. The amendments in this ASU are effective on November 18, 2014. After the effective date, an acquired entity can make an election to apply the guidance to future change-in-control events or to its most recent change-in-control event. However, if the financial statements for the period in which the most recent change-in-control event occurred already have been issued or made available to be issued, the application of this guidance would be a change in accounting principle. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements.
	In January 2015, the FASB issued ASU 2015-01, “Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” The amendments in this ASU eliminate the concept of extraordinary items. Eliminating the concept of extraordinary items will save time and reduce costs for preparers because they will not have to assess whether a particular event or transaction event is extraordinary (even if they ultimately would conclude it is not). This also alleviates uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. The presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.
	In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis.” The amendments in this ASU affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments: (1) Modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; (2) Eliminate the presumption that a general partner should consolidate a limited partnership; (3) Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.

	In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015 with early adoption permitted. The guidance should be applied on a retrospective basis. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.
	In April 2015, the FASB issued ASU 2015-05, “Intangibles – Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” This ASU provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance does not change the accounting for a customer’s accounting for service contracts. ASU 2015-05 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.

INVESTMENTS_IN_SECURITIES

INVESTMENTS IN SECURITIES	3 Months Ended
INVESTMENTS IN SECURITIES	Mar. 31, 2015
INVESTMENTS IN SECURITIES	NOTE 3 - INVESTMENTS IN SECURITIES
	The amortized cost of available-for-sale (AFS) and held-to-maturity (HTM) securities and their approximate fair values were as follows at the dates indicated (in thousands):


		March 31, 2015											December 31, 2014
		Amortized		Gross			Gross			Fair			Amortized		Gross		Gross			Fair
		Cost		Unrealized			Unrealized			Value			Cost		Unrealized		Unrealized			Value
		Basis		Gains			Losses						Basis		Gains		Losses
		(unaudited)
	Available-for-sale securities:
	Corporate debt securities	$	22,181	$	157		$	(141	)	$	22,197		$	22,199	$	86	$	(206	)	$	22,079

		$	22,181	$	157		$	(141	)	$	22,197		$	22,199	$	86	$	(206	)	$	22,079


	Held-to-maturity securities:
	U.S. government sponsored mortgage-backed securities	$	101,446	$	1,536		$	(95	)	$	102,887		$	100,977	$	1,019	$	(227	)	$	101,769
	Corporate debt securities		17,564		425			—			17,989			17,551		164		(37	)		17,678

		$	119,010	$	1,961		$	(95	)	$	120,876		$	118,528	$	1,183	$	(264	)	$	119,447

	The amortized cost basis and estimated fair value of debt securities by contractual maturity at March 31, 2015 is as follows (in thousands). Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.


		March 31, 2015
		Available-for-Sale					Held-to-Maturity
		Amortized		Fair			Amortized			Fair
		Cost Basis		Value			Cost Basis			Value
		(unaudited)					(unaudited)

	Due within one year	$	—	$	—		$	41		$	42
	Due after one year through five years		12,803		12,925			7,180			7,274
	Due after five years through ten years		9,378		9,272			63,116			64,069
	Due after ten years		—		—			48,673			49,491

		$	22,181	$	22,197		$	119,010		$	120,876

	When securities are sold, the adjusted cost of the specific security sold is used to compute the gain or loss on the sale. During the three months ended March 31, 2015 (unaudited) and March 31, 2014, there were no sales of available-for-sale securities.

	Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position follows (in thousands):


		Less than 12 Months					12 Months or longer
		Fair		Unrealized			Fair			Unrealized
		Value		Losses			Value			Losses

	March 31, 2015 (unaudited):
	Available-for-sale
	Corporate debt securities	$	—	$	—		$	4,238		$	(141	)
	Held-to-maturity
	Corporate debt securities		—		—			—			—
	U.S. government sponsored mortgage backed securities		4,957		(18	)		6,745			(77	)

	Total temporarily impaired securities	$	4,957	$	(18	)	$	10,983		$	(218	)


	December 31, 2014:
	Available-for-sale
	Corporate debt securities	$	—	$	—		$	4,185		$	(206	)
	Held-to-maturity
	Corporate debt securities		4,691		(37	)		—			—
	U.S. government sponsored mortgage backed securities		10,974		(34	)		15,637			(193	)

	Total temporarily impaired securities	$	15,665	$	(71	)	$	19,822		$	(399	)

The investment securities portfolio is generally evaluated for other-than-temporary impairment under ASC 320-10, “Investments - Debt and Equity Securities.”
Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. At March 31, 2015 (unaudited), 12 debt securities were in an unrealized loss position. When there are securities in an unrealized loss position, consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Based on the Company’s March 31, 2015 (unaudited) quarterly review of securities in the investment portfolio, management has determined that unrealized losses related to 12 debt securities with aggregate depreciation of 1.46% from the Company’s amortized cost basis were caused primarily by changes in market interest rates. The contractual terms of these investments do not permit the companies to settle the security at a price less than the par value of the investment. The Company currently does not believe it is probable that it will be unable to collect all amounts due according to the contractual terms of the investments. Therefore, it is expected that the securities would not be settled at a price less than the par value of the investment. Because the Company does not intend to sell the investments and it is more likely than not that the Company will not be required to sell the investments before recovery of their amortized cost basis, it does not consider these investments to be other-than-temporarily impaired at March 31, 2015.
At December 31, 2014, twenty one debt securities had unrealized losses with aggregate depreciation of 1.31% from the Company’s amortized cost basis. The Company’s unrealized losses on investments in corporate bonds and mortgage backed securities are primarily caused by changes in market interest rates.
In addition to the securities listed above, the Company holds securities in a Rabbi Trust that are used to fund the executive and director non-qualified deferred compensation plan. These Rabbi Trust investments are included in other assets and consist primarily of cash and cash equivalents and actively traded mutual funds, and are recorded at fair value. The fair value of these Rabbi Trust investments at March 31, 2015 (unaudited) and December 31, 2014 was $2.4 million and $2.3 million, respectively. For the three month periods ending March 31, 2015 and March 31, 2014, the net gain on Rabbi Trust investments still held at the reporting date was $39,000 and $22,000, respectively. Refer to Note 7 – Employee and Director Benefit Plans, for more information.

LOANS_ALLOWANCE_FOR_LOAN_LOSSE

LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY	3 Months Ended
LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY	Mar. 31, 2015
LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY	NOTE 4 – LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY
	Loans
	Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for loan losses, deferred fees or costs on originated loans, and any premiums or discounts on purchased loans.
	Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method.
	The accrual of interest on all loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual if collection of principal or interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
	Payments received on impaired loans are applied to reduce the recorded investment in the loan principal to the extent necessary to eliminate doubt as to the collectability of the net carrying amount of the loan. Some or all of the payments received on impaired loans are recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered.
	Allowance for Loan Losses
	The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance.
	The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated and unallocated components, as further described below.
	General Component:
	The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, home equity lines of credit, commercial real estate, construction, commercial, indirect auto and other consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during the three months ended March 31, 2015 or during fiscal year 2014.
	The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows:
	Residential real estate loans and home equity lines of credit – The Company generally does not originate or purchase loans with a loan-to-value ratio greater than 80 percent and generally does not grant subprime loans. Loans in this segment are generally collateralized by owner-occupied residential real estate and repayment is dependent on the cash flow and credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment.
	Commercial real estate loans – Loans in this segment are primarily secured by income-producing properties in eastern Massachusetts. The underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy and increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management generally obtains rent rolls annually and continually monitors the cash flows of these borrowers.
	Construction loans – Loans in this segment primarily include speculative real estate development loans for which payment is derived from sale and/or lease up of the property. Credit risk is affected by cost overruns, time to sell, or lease at adequate prices, and market conditions.

	Commercial loans – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer and business spending, will have an effect on the credit quality in this segment.
	Indirect auto loans – Loans in this segment are secured installment loans that are originated through a network of select regional automobile dealerships. The Company’s interest in the vehicle is secured with a recorded lien on the state title of each automobile. Repayment is primarily dependent on the credit worthiness and the cash flow of the individual borrower and secondarily, liquidation of the collateral.
	Other consumer loans - Loans in this segment include secured and unsecured consumer loans including passbook loans, consumer lines of credit and overdraft protection, and consumer unsecured loans. Repayment is dependent on the credit quality and the cash flow of the individual borrower.
	Allocated Component:
	The allocated component relates to loans that are classified as impaired. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed.
	The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). All TDRs are classified as impaired.
	Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral-dependent. Generally, TDRs are measured for impairment using the discounted cash flow method except in instances where foreclosure is probable in which case the fair value of collateral method is used. When the fair value of the impaired loan is determined to be less than the recorded investment in the loan, the impairment is recorded through the valuation allowance. However, for collateral dependent loans, the amount of the recorded investment in a loan that exceeds the fair value of the collateral is charged-off against the allowance for loan losses in lieu of an allocation of a specific allowance amount when such an amount has been identified definitively as uncollectable.
	Unallocated Component:
	An unallocated component may be maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. At March 31, 2015 (unaudited) and December 31, 2014, the Company had unallocated reserves of $177,000 and $171,000, respectively.

	Loans consisted of the following (dollars in thousands):


			March 31, 2015								December 31, 2014
			Amount				Percent				Amount				Percent
			(unaudited)
	Mortgage loans:
	Residential one-to-four family		$	476,913				38.69	%		$	450,572				38.16	%
	Commercial real estate loans (1)			410,944				33.34				395,178				33.47
	Home equity			134,781				10.94				131,628				11.15
	Construction loans			40,421				3.28				31,389				2.66

	Total mortgage loans			1,063,059				86.25				1,008,767				85.44


	Commercial loans			36,192				2.94				39,161				3.32
	Consumer loans:
	Indirect auto loans			132,716				10.77				131,961				11.17
	Other consumer loans			486				0.04				774				0.07

				169,394				13.75				171,896				14.56


	Total loans			1,232,453				100	%			1,180,663				100	%


	Net deferred loan costs			5,165								5,068
	Net unamortized mortgage premiums			2,653								2,549
	Allowance for loan losses			(9,203	)							(8,881	)


	Total loans, net		$	1,231,068							$	1,179,399


	-1	Includes multi-family real estate loans.
	The following tables (in thousands) present the activity in the allowance for loan losses by portfolio class for the three months ended March 31, 2015 and 2014 (unaudited); and the balances of the allowance for loan losses and recorded investment in loans by portfolio class based on impairment method at March 31, 2015 (unaudited) and December 31, 2014. The recorded investment in loans in any of the following tables does not include accrued and unpaid interest or any deferred loan fees or costs, as amounts are not significant.


		Three Months Ended March 31, 2015
		Beginning balance				Provision (benefit)				Charge-offs				Recoveries				Ending balance

Residential one-to-four family		$	2,364			$	215			$	—			$	—			$	2,579
Commercial real estate			4,043				(8	)			—				—				4,035
Construction			228				245				—				—				473
Commercial			458				(42	)			—				—				416
Home equity			828				(88	)			—				—				740
Indirect auto			778				6				(26	)			12				770
Other consumer			11				4				(3	)			1				13
Unallocated			171				6				—				—				177

Total		$	8,881			$	338			$	(29	)		$	13			$	9,203


		Three Months Ended March 31, 2014
		Beginning balance				Provision (benefit)				Charge-offs				Recoveries				Ending balance

Residential one-to-four family		$	2,189			$	(143	)		$	—			$	—			$	2,046
Commercial real estate			3,621				502				—				—				4,123
Construction			134				27				—				—				161
Commercial			419				(12	)			—				—				407
Home equity			681				(80	)			—				—				601
Indirect auto			749				86				(3	)			1				833
Other consumer			26				(6	)			(6	)			4				18
Unallocated			139				14				—				—				153

Total		$	7,958			$	388			$	(9	)		$	5			$	8,342



		March 31, 2015
		Individually evaluated for impairment								Collectively evaluated for impairment								Total
		Loan balance				Allowance				Loan balance				Allowance				Loan balance		Allowance
Residential one-to-four family		$	6,226			$	179			$	470,687			$	2,400			$	476,913	$	2,579
Commercial real estate			3,837				5				407,107				4,030				410,944		4,035
Construction			—				—				40,421				473				40,421		473
Commercial			—				—				36,192				416				36,192		416
Home equity			296				—				134,485				740				134,781		740
Indirect auto			—				—				132,716				770				132,716		770
Other consumer			—				—				486				13				486		13
Unallocated			—				—				—				177				—		177

Total		$	10,359			$	184			$	1,222,094			$	9,019			$	1,232,453	$	9,203


		31-Dec-14
		Individually evaluated for impairment								Collectively evaluated for impairment								Total
		Loan balance				Allowance				Loan balance				Allowance				Loan balance		Allowance
Residential one-to-four family		$	6,256			$	188			$	444,316			$	2,176			$	450,572	$	2,364
Commercial real estate			3,882				5				391,296				4,038				395,178		4,043
Construction			—				—				31,389				228				31,389		228
Commercial			—				—				39,161				458				39,161		458
Home equity			296				—				131,332				828				131,628		828
Indirect auto			12				—				131,949				778				131,961		778
Other consumer			—				—				774				11				774		11
Unallocated			—				—				—				171				—		171

Total		$	10,446			$	193			$	1,170,217			$	8,688			$	1,180,663	$	8,881

Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of March 31, 2015 (unaudited and in thousands):


		Impaired loans with a related allowance for credit losses
		Recorded Investment				Unpaid				Specific Allowance
						Principal
						Balance
Residential one-to-four family		$	1,179			$	1,180			$	179
Commercial real estate			3,045				3,045				5
Construction			—				—				—
Commercial			—				—				—
Home equity			—				—				—
Indirect auto			—				—				—
Other consumer			—				—				—

Totals		$	4,224			$	4,225			$	184


		Impaired loans with no related allowance for credit losses
		Recorded Investment				Unpaid				Specific Allowance
						Principal
						Balance
Residential one-to-four family		$	5,047			$	5,206			$	—
Commercial real estate			792				792				—
Construction			—				—				—
Commercial			—				—				—
Home equity			296				298				—
Indirect auto			—				—				—
Other consumer			—				—				—

Totals		$	6,135			$	6,296			$	—


Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of December 31, 2014 (in thousands):


		Impaired loans with a related allowance for credit losses
		Recorded				Unpaid				Specific
		Investment				Principal				Allowance
						Balance
Residential one-to-four family		$	1,186			$	1,186			$	188
Commercial real estate			3,060				3,060				5
Construction			—				—				—
Commercial			—				—				—
Home equity			—				—				—
Indirect auto			—				—				—
Other consumer			—				—				—

Totals		$	4,246			$	4,246			$	193


		Impaired loans with no related allowance for credit losses
		Recorded				Unpaid				Specific
		Investment				Principal				Allowance
						Balance
Residential one-to-four family		$	5,070			$	5,229			$	—
Commercial real estate			822				822				—
Construction			—				—				—
Commercial			—				—				—
Home equity			296				298				—
Indirect auto			12				12				—
Other consumer			—				—				—

Totals		$	6,200			$	6,361			$	—

The following tables set forth information regarding interest income recognized on impaired loans, by portfolio, for the periods indicated (unaudited and in thousands):


		Three months ended March 31, 2015								Three months ended March 31, 2014
With an allowance recorded		Average				Interest				Average				Interest
		Recorded				Income				Recorded				Income
		Investment				Recognized				Investment				Recognized
Residential one-to-four family		$	1,181			$	8			$	2,550			$	105
Commercial real estate			3,050				31				3,106				20
Construction			—				—				—				—
Commercial			—				—				—				—
Home equity			—				—				200				1
Indirect auto			—				—				—				—
Other consumer			—				—				—				—

Totals		$	4,231			$	39			$	5,856			$	126


		Three months ended March 31, 2015								Three months ended March 31, 2014
Without an allowance recorded		Average				Interest				Average				Interest
		Recorded				Income				Recorded				Income
		Investment				Recognized				Investment				Recognized
Residential one-to-four family		$	5,053			$	25			$	3,143			$	26
Commercial real estate			802				8				956				8
Construction			—				—				—				—
Commercial			—				—				—				—
Home equity			296				2				200				2
Indirect auto			5				—				—				—
Other consumer			—				—				—				—

Totals		$	6,156			$	35			$	4,299			$	36


The following is a summary of past due and non-accrual loans (in thousands):


		March 31, 2015 (unaudited)
		30–59 Days				60–89 Days				90 Days				Total				90 days		Loans on
										or More				Past Due				or more		Non-accrual
																		and accruing
Real estate loans:
Residential one-to-four family		$	274			$	—			$	2,659			$	2,933			$	—	$	2,659
Commercial real estate			—				—				—				—				—		—
Home equity			614				—				96				710				—		96
Construction			—				—				—				—				—		—
Other loans:															—
Commercial			—				—				—				—				—		—
Indirect auto			470				54				—				524				—		—
Other consumer			—				—				—				—				—		—

Total		$	1,358			$	54			$	2,755			$	4,167			$	—	$	2,755


		31-Dec-14
		30–59 Days				60–89 Days				90 Days				Total				90 days		Loans on
										or More				Past Due				or more		Non-accrual
																		and accruing
Real estate loans:
Residential one-to-four family		$	—			$	230			$	2,432			$	2,662			$	—	$	2,662
Commercial real estate			—				—				—				—				—		—
Home equity			270				—				96				366				—		96
Construction			—				—				—				—				—		—
Other loans:
Commercial			—				—				—				—				—		—
Indirect auto			463				45				12				520				—		12
Other consumer			—				—				—				—				—		—

Total		$	733			$	275			$	2,540			$	3,548			$	—	$	2,770

Credit Quality Information
The Company utilizes a seven grade internal loan rating system for commercial, commercial real estate and construction loans, and a five grade internal loan rating system for certain residential real estate, home equity and consumer loans that are rated if the loans become delinquent.
Loans rated 1 - 3: Loans in these categories are considered “pass” rated loans with low to average risk.
Loans rated 4: Loans in this category are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management.
Loans rated 5: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Company will sustain some loss if the weakness is not corrected.
Loans rated 6: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable.
Loans rated 7: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted.
On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial, commercial real estate loans, and construction loans. On an annual basis, the Company engages an independent third party to review a significant portion of loans within these segments. Management uses the results of these reviews as part of its annual review process.
On a quarterly basis, the Company formally reviews the ratings on all residential real estate and home equity loans if they have become delinquent. Criteria used to determine the rating consists of loan-to-value and days delinquent.

The following tables present the Company’s loans by risk rating at March 31, 2015 (unaudited) and December 31, 2014 (in thousands). There were no loans rated as 6 (“doubtful”) or 7 (“loss”) at the dates indicated.


		March 31, 2015
		Loans rated 1-3				Loans rated 4				Loans rated 5				Loans not rated (A)				Total

Residential one-to-four family		$	—			$	1,128			$	3,393			$	472,392			$	476,913
Commercial real estate			405,320				770				4,854				—				410,944
Construction			40,421				—				—				—				40,421
Commercial			36,191				1				—				—				36,192
Home equity			—				—				895				133,886				134,781
Indirect auto			—				—				—				132,716				132,716
Other consumer			—				—				—				486				486

Total		$	481,932			$	1,899			$	9,142			$	739,480			$	1,232,453


		December 31, 2014
		Loans rated 1-3				Loans rated 4				Loans rated 5				Loans not rated (A)				Total

Residential one-to-four family		$	—			$	1,134			$	3,400			$	446,038			$	450,572
Commercial real estate			386,513				—				8,665				—				395,178
Construction			31,389				—				—				—				31,389
Commercial			39,159				2				—				—				39,161
Home equity			—				—				895				130,733				131,628
Indirect auto			—				—				—				131,961				131,961
Consumer			—				—				—				774				774

Total		$	457,061			$	1,136			$	12,960			$	709,506			$	1,180,663


(A)	Residential real estate and home equity loans are not formally risk rated by the Company unless the loan become delinquent.
The Company periodically modifies loans to extend the term or make other concessions to help a borrower stay current on their loan and to avoid foreclosure. Any loans that are modified are reviewed by the Company to identify if a TDR has occurred, which is when, for economic or legal reasons related to a borrower’s financial difficulties, the Bank grants a concession to the borrower that it would not otherwise consider. During the three months ended March 31, 2015 and March 31, 2014, there were no loans modified and determined to be TDRs. At March 31, 2015, the Company had $9.2 million of troubled debt restructurings related to ten loans.
The following table shows the Company’s total TDRs and other pertinent information as of the dates indicated (in thousands):


		March 31, 2015				December 31, 2014
		(unaudited)
TDRs on Accrual Status		$	7,605			$	7,675
TDRs on Nonaccrual Status			1,551				1,551

Total TDRs		$	9,156			$	9,226


Amount of specific allocation included in the allowance for loan losses associated with TDRs		$	174			$	174

Additional commitments to lend to a borrower who has been a party to a TDR		$	—			$	—

The Company considers a TDR loan to have defaulted when it reaches 90 days past due. There were no TDRs that have been modified during the twelve months ending on March 31, 2015 and March 31, 2014 which have subsequently defaulted during the three month period ending on March 31, 2015 and March 31, 2014, respectively.

TRANSFERS_AND_SERVICING

TRANSFERS AND SERVICING	3 Months Ended
TRANSFERS AND SERVICING	Mar. 31, 2015
TRANSFERS AND SERVICING	NOTE 5 – TRANSFERS AND SERVICING
	Certain residential mortgage loans are periodically sold by the Company to the secondary market. Generally, these loans are sold without recourse or other credit enhancements. The Company sells loans and both releases and retains the servicing rights. For loans sold with the servicing rights retained, we provide the servicing for the loans on a per-loan fee basis. The Company also periodically sells auto loans to other financial institutions without recourse or other credit enhancements, and the Company generally provides servicing for these loans.
	At March 31, 2015 (unaudited) and December 31, 2014, residential loans previously sold and serviced by the Company were $65.4 million and $69.5 million, respectively. At March 31, 2015 (unaudited) and December 31, 2014, indirect auto loans previously sold and serviced by the Company were $84.1 million and $94.7 million, respectively.
	On March 16, 2006, seventeen loans with an aggregate principal balance of $10.5 million were sold to another financial institution. The agreement related to this sale contains provisions requiring the Company to repurchase any loan that becomes 90 days past due during the initial 120 months. The Company will repurchase the past due loan for 100 percent of the unpaid principal plus interest to repurchase date. As of March 31, 2015 (unaudited) and December 31, 2014, the principal balance of these loans sold with recourse amounted to $1.1 million and $1.1 million, respectively. The Company has not incurred any losses related to the loans sold with recourse.
	Mortgage servicing rights (MSR) are initially recorded as an asset and measured at fair value when loans are sold to third parties with servicing rights retained. MSR assets are amortized in proportion to, and over the period of, estimated net servicing revenues. The carrying value of these assets is periodically reviewed for impairment using the lower of amortized cost or fair value methodology. The fair value of the servicing rights is determined by estimating the present value of future net cash flows, taking into consideration market loan prepayment speeds, discount rates, servicing costs and other economic factors. For purposes of measuring impairment, the underlying loans are stratified into relatively homogeneous pools based on predominant risk characteristics which include product type (i.e., fixed or adjustable) and interest rate bands. If the aggregate carrying value of the capitalized mortgage servicing rights for a stratum exceeds its fair value, MSR impairment is recognized in earnings through a valuation allowance for the difference. As the loans are repaid and net servicing revenue is earned, the MSR asset is amortized as an offset to loan servicing income. Servicing revenues are expected to exceed this amortization expense. However, if actual prepayment experience or defaults exceed what was originally anticipated, net servicing revenues may be less than expected and mortgage servicing rights may be impaired. No servicing assets or liabilities related to auto loans were recorded, as the contractual servicing fees are adequate to compensate the Company for its servicing responsibilities.
	Changes in mortgage servicing rights, which are included in other assets, were as follows (in thousands):


		Three months ended March 31,
		2015			2014
		(unaudited)
	Balance at beginning of period	$	476		$	411
	Capitalization		22			7
	Amortization		(23	)		(17	)
	Valuation allowance adjustment		(12	)		2

	Balance at end of period	$	463		$	403

SECURITIES_SOLD_UNDER_AGREEMEN

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER BORROWED FUNDS	3 Months Ended
	Mar. 31, 2015
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER BORROWED FUNDS	NOTE 6 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER BORROWED FUNDS
	The securities sold under agreements to repurchase as of March 31, 2015 (unaudited) and December 31, 2014 are securities sold on a short-term basis by the Company that have been accounted for not as sales but as borrowings. The securities consisted of mortgage backed securities issued by U.S. government sponsored entities. The securities were held in the Company’s safekeeping account at the Federal Home Loan Bank of Boston under the control of the Company. The securities are pledged to the purchasers of the securities. The purchasers have agreed to sell to the Company substantially identical securities at the maturity of the agreements. The balance of securities sold under agreements to repurchase as of March 31, 2015 and December 31, 2014 was $1.6 million and $1.4 million, respectively.
	Other borrowed funds consist of the recourse obligation recorded in connection with the loans sold with recourse discussed in Note 5. The balance of the recourse obligation at March 31, 2015 (unaudited) and December 31, 2014 was $1.1 million and $1.1 million, respectively.

EMPLOYEE_AND_DIRECTOR_BENEFIT_

EMPLOYEE AND DIRECTOR BENEFIT PLANS	3 Months Ended
EMPLOYEE AND DIRECTOR BENEFIT PLANS	Mar. 31, 2015
EMPLOYEE AND DIRECTOR BENEFIT PLANS	NOTE 7 – EMPLOYEE AND DIRECTOR BENEFIT PLANS
	Supplemental Retirement Plans
	The Company has supplemental retirement plans for eligible executive officers that provide for a lump sum benefit upon termination of employment at or after age 55 and completing 10 or more years of service (certain reduced benefits are available prior to attaining age 55 or fewer than 10 years of service), subject to certain limitations as set forth in the agreements. The present value of these future payments is being accrued over the service period. The estimated liability at March 31, 2015 (unaudited) and December 31, 2014 relating to these plans was $1.8 million and $1.8 million, respectively.
	The Company has a supplemental retirement plan for eligible directors that provides for monthly benefits based upon years of service to the Company, subject to certain limitations as set forth in the agreements. The present value of these future payments is being accrued over the estimated period of service. The estimated liability at March 31, 2015 (unaudited) and December 31, 2014 relating to this plan was $647,000 and $648,000, respectively.
	Effective October 1, 2010, the Company established the Belmont Savings Bank Supplemental Executive Retirement Plan (“Plan”). The purpose of the Plan is to permit certain executive officers of the Company to receive supplemental retirement income from the Company. At March 31, 2015 (unaudited) and December 31, 2014, there were four participants in the Plan. Participants are fully vested after the completion of between five and ten years of service. The plan is unfunded. The estimated liability at March 31, 2015 (unaudited) and December 31, 2014 relating to this plan was $1.1 million and $985,000, respectively.
	Incentive Compensation Plan
	The Incentive Compensation Plan is a discretionary annual cash-based incentive plan that is an integral part of the participant’s total compensation package and supports the continued growth, profitability and risk management of Belmont Savings Bank. Each year participants are awarded for the achievement of certain performance objectives on a company-wide and individual basis. Compensation expense recognized was $366,000 and $365,000 for the three months ended March 31, 2015 and 2014 (unaudited), respectively.
	Defined Contribution Plan
	The Company sponsors a 401(k) plan covering substantially all employees meeting certain eligibility requirements. Under the provisions of the plan, employees are able to contribute up to an annual limit of the lesser of 75% of eligible compensation or the maximum allowed by the Internal Revenue Service. The Company’s contributions for the three months ended March 31, 2015 and 2014 (unaudited) totaled $237,000 and $150,000, respectively.
	Deferred Compensation Plan
	The Company has a compensation deferral plan by which selected employees and directors of the Company are entitled to elect, prior to the beginning of each year, to defer the receipt of an amount of their compensation for the forthcoming year. Each agreement allows for the individual to elect to defer a portion of his or her compensation to an individual deferred compensation account established by Belmont Savings Bank. In April 2013, Belmont Savings Bank created a Rabbi Trust, or grantor trust. The Rabbi Trust is maintained by the Company primarily for purposes of providing deferred compensation for certain directors and employees of the Company. The plan is administered by a third party and permits participants to select from a number of investment options for the investment of their account balances. Each participant is always 100% vested in his or her deferred compensation account balance. As of March 31, 2015 (unaudited) and December 31, 2014, the recorded liability relating to the Rabbi Trust was $2.4 million and $2.3 million, respectively.

	Capital Appreciation Plan
	Effective September 30, 2010, the Company established the Capital Appreciation Plan. The purpose of this plan was to attract, retain, and motivate certain key employees and directors of the Company. Awards were calculated based on capital appreciation of the Bank and the Bank’s return on average assets, entitling the employee or director to a specific percentage of the Employee or Trustee Capital Appreciation Pool as outlined in the plan. The vesting period ended on June 30, 2014 and the plan was completed. Participants were paid lump sums totaling $266,000. The Company recognized $0 and $31,000 in relation to the plan during the three months ended March 31, 2015 and 2014 (unaudited), respectively.
	Employee Stock Ownership Plan
	The Company maintains an Employee Stock Ownership Plan (“ESOP”) to provide eligible employees the opportunity to own Company stock. This plan is a tax-qualified retirement plan for the benefit of all Company employees. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax law limits.
	The Company contributed funds to a subsidiary to enable it to grant a loan to the ESOP for the purchase of 458,643 shares of the Company’s common stock at a price of $10.00 per share. The loan obtained by the ESOP from the Company’s subsidiary to purchase Company common stock is payable annually over 30 years at a rate per annum equal to the Prime Rate (3.25% at March 31, 2015). Loan payments are principally funded by cash contributions from the Bank. The loan is secured by the shares purchased, which are held in a suspense account for allocation among participants as the loan is repaid. Cash dividends paid on allocated shares are distributed to participants and cash dividends paid on unallocated shares are used to repay the outstanding debt of the ESOP. Shares used as collateral to secure the loan are released and available for allocation to eligible employees as the principal and interest on the loan is paid. The Company incurred expenses for the three months ended March 31, 2015 and 2014 (unaudited) of $72,000 and $63,000, respectively.
	Severance Agreements
	The Company has entered into employment agreements and change in control agreements with certain executive officers which would provide the executive officers with severance payments based on salary, and the continuation of other benefits, upon a change in control as defined in the agreements.

PLEDGED_ASSETS

PLEDGED ASSETS	3 Months Ended
PLEDGED ASSETS	Mar. 31, 2015
PLEDGED ASSETS	NOTE 8 – PLEDGED ASSETS
	The following securities and loans were pledged to secure securities sold under agreements to repurchase, FHLB advances and credit facilities available (in thousands).


	March 31, 2015 (unaudited)	Securities held-to-maturity		Loans		Total pledged
	March 31, 2015 (unaudited)	(at cost)		receivable		assets
	Repurchase agreements	$	3,530	$	—	$	3,530
	FHLB borrowings		51,680		544,277		595,957
	Federal Reserve Bank LOC		15,672		—		15,672

	Total pledged assets	$	70,882	$	544,277	$	615,159



	December 31, 2014	Securities held-to-maturity		Loans		Total pledged
	December 31, 2014	(at cost)		receivable		assets
	Repurchase agreements	$	3,830	$	—	$	3,830
	FHLB borrowings		51,062		518,375		569,437
	Federal Reserve Bank LOC		15,662		—		15,662

	Total pledged assets	$	70,554	$	518,375	$	588,929

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
EARNINGS PER SHARE	Mar. 31, 2015
EARNINGS PER SHARE	NOTE 9 – EARNINGS PER SHARE
	Basic earnings per share (“EPS”) excludes dilution and is calculated by dividing net income allocated to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted EPS is computed in a manner similar to that of basic EPS except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares (computed using the treasury stock method) that would have been outstanding if all potentially dilutive common stock equivalents (such as stock options and unvested restricted stock not meeting the definition of a participating security) were issued during the period.
	Earnings per share consisted of the following components for the periods indicated (unaudited and dollars in thousands except per share data):


		Three months ended
		March 31,
		2015			2014
	Net income	$	1,374		$	680
	Undistributed earnings attributable to participating securities		(34	)		(23	)

	Net income allocated to common stockholders	$	1,340		$	657


	Weighted average shares outstanding, basic		8,442,391			8,345,890
	Effect of dilutive shares		156,728			28,470

	Weighted average shares outstanding, assuming dilution		8,599,119			8,374,360


	Basic EPS	$	0.16		$	0.08
	Effect of dilutive shares		—			—

	Diluted EPS	$	0.16		$	0.08

	The following table illustrates average options to purchase shares of common stock that were outstanding but not included in the computation of EPS because they were antidilutive under the treasury stock method (unaudited):


		Three months ended
		March 31,
		2015			2014
	Stock options		23,867			63,170
	Unallocated common shares held by the ESOP are shown as a reduction in stockholders’ equity and are not included in the weighted-average number of common shares outstanding for either basic or diluted earnings per share calculations.
	On June 22, 2013, the Company’s Board of Directors authorized a program to repurchase, from time-to-time and as market and business conditions warrant, up to 500,000 shares of the Company’s common stock. During the three months ended March 31, 2015 and 2014, the Company did not repurchase any shares under the repurchase program.

STOCK_BASED_COMPENSATION

STOCK BASED COMPENSATION	3 Months Ended
STOCK BASED COMPENSATION	Mar. 31, 2015
STOCK BASED COMPENSATION	NOTE 10 – STOCK BASED COMPENSATION
	On November 14, 2012, the stockholders of BSB Bancorp, Inc. approved the BSB Bancorp, Inc. 2012 Equity Incentive Plan.

	The following table presents the pre-tax expense associated with stock options and restricted stock awards and the related tax benefits recognized (in thousands and unaudited):


		Three months		Three months
		ended March 31,		ended March 31,
		2015		2014
	Stock options	$	188	$	232
	Restricted stock awards		208		245

	Total stock based compensation expense		396		477

	Related tax benefits recognized in earnings	$	116	$	146

	Total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized is as follows (in thousands):


		As of March 31, 2015				As of December 31, 2014
		(unaudited)
		Amount		Weighted		Amount		Weighted
		Amount		average period		Amount		average period
	Stock options	$	2,009		2.8	$	2,195		3
	Restricted stock		2,134		2.7		2,313		2.9

	Total	$	4,143			$	4,508

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Mar. 31, 2015
FAIR VALUE MEASUREMENTS	NOTE 11 – FAIR VALUE MEASUREMENTS
	Determination of Fair Value
	The fair value of an asset or liability is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses prices and inputs that are current as of the measurement date, including during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from one level to another. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various assets and liabilities. In cases where quoted market prices are not available, fair values are based on estimates using present value of cash flows or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.
	The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability and reliability of the assumptions used to determine fair value.
	Level 1 - Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.
	Level 2 - Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
	Level 3 - Level 3 inputs are unobservable inputs for the asset or liability.
	For assets and liabilities fair value is based upon the lowest level of input that is significant to the fair value measurement.
	In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon models that primarily use, as inputs, observable market based parameters. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value is set forth below. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s financial assets and financial liabilities carried at fair value for March 31, 2015 and December 31, 2014. There were no significant transfers between level 1 and level 2 of the fair value hierarchy during the three months ended March 31, 2015 (unaudited) and the year ended December 31, 2014.

	Financial Assets and Financial Liabilities: Financial assets and financial liabilities measured at fair value on a recurring basis include the following:
	Securities Available for Sale: The Company’s investment in corporate debt securities is generally classified within level 2 of the fair value hierarchy. For these securities, the Company obtains fair value measurements from independent pricing services. The fair value measurements consider observable data that may include reported trades, dealer quotes, market spreads, cash flows, the U.S. treasury yield curve, trading levels, market consensus prepayment speeds, credit information and the instrument’s terms and conditions.
	Rabbi Trust Investments: Rabbi Trust investments consist primarily of cash and cash equivalents and mutual funds and were recorded at fair value and included in other assets. The purpose of these Rabbi Trust investments is to fund certain director and executive non-qualified retirement benefits and deferred compensation. For cash and cash equivalents, which have maturities of 90 days or less, their carrying amounts reported in the consolidated balance sheets approximate fair value and were categorized as Level 1. The exchange-traded funds were valued based on quoted prices from the market and were categorized as Level 1.
	The following table summarizes financial assets measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):


			Level 1			Level 2			Level 3			Total
			Level 1			Level 2			Level 3			Fair Value
			(unaudited)
	At March 31, 2015
	Securities available-for-sale
	Corporate debt securities		$	—		$	22,197		$	—		$	22,197
	Trading securities
	Rabbi trust investments			2,406			—			—			2,406

	Totals		$	2,406		$	22,197		$	—		$	24,603



			Level 1			Level 2			Level 3			Total
			Level 1			Level 2			Level 3			Fair Value

	At December 31, 2014
	Securities available-for-sale
	Corporate debt securities		$	—		$	22,079		$	—		$	22,079
	Trading securities
	Rabbi trust investments			2,336			—			—			2,336

	Totals		$	2,336		$	22,079		$	—		$	24,415

	Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial assets measured at fair value on a non-recurring basis during the reported periods include certain impaired loans reported at the fair value of the underlying collateral. Fair value was measured using appraised values of collateral and adjusted as necessary by management based on unobservable inputs for specific properties. However, the choice of observable data is subject to significant judgment, and there are often adjustments based on judgment in order to make observable data comparable and to consider the impact of time, the condition of properties, interest rates, and other market factors on current values. Additionally, commercial real estate appraisals frequently involve discounting of projected cash flows, which relies inherently on unobservable data. Therefore, real estate collateral related nonrecurring fair value measurement adjustments have generally been classified as Level 3. Estimates of fair value used for other collateral supporting commercial loans generally are based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3.

	The following table (in thousands) presents certain impaired loans that were re-measured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses based upon the fair value of the underlying collateral at March 31, 2015 (unaudited) and December 31, 2014.


			March 31, 2015
			Level 1			Level 2			Level 3

	Impaired loans		$	—		$	—		$	1,958

	Totals		$	—		$	—		$	1,958



			31-Dec-14
			Level 1			Level 2			Level 3

	Impaired loans		$	—		$	—		$	1,951

	Totals		$	—		$	—		$	1,951

	Non-Financial Assets and Non-Financial Liabilities: The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Non-financial assets measured at fair value on a non-recurring basis during the reported periods include certain foreclosed assets which, upon initial recognition, were re-measured and reported at fair value through a charge-off to the allowance for loan losses and certain foreclosed assets which, subsequent to their initial recognition, were re-measured at fair value through a write-down included in other non-interest expense. Non financial assets also include mortgage servicing right assets that are remeasured and reported at the lower of cost or fair value.
	The following tables (in thousands) present the non-financial assets that were re-measured and reported at the lower of cost or fair value at the periods indicated:


		March 31, 2015
		Level 1			Level 2			Level 3
		(unaudited)
Mortgage servicing rights		$	—		$	—		$	463

Totals		$	—		$	—		$	463



		December 31, 2014
		Level 1			Level 2			Level 3

Mortgage servicing rights		$	—		$	—		$	476

Totals		$	—		$	—		$	476

ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. The estimated fair value approximates carrying value for cash and cash equivalents, FHLB stock, accrued interest, securities sold under agreements to repurchase, other borrowed funds and mortgagors’ escrow accounts. The methodologies for other financial assets and financial liabilities are discussed below:
Securities held to maturity-The fair values presented are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments and/or discounted cash flow analyses.
Loans- For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality.

Deposits- The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificate accounts are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on certificate accounts.
FHLB advances- The fair values of the Company’s FHLB advances are estimated using discounted cash flow analyses based on the current incremental borrowing rates in the market for similar types of borrowing arrangements.
Summary of Fair Values of Financial Instruments not Carried at Fair Value
The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows (in thousands):


		March 31, 2015
		Carrying			Fair			Level 1			Level 2			Level 3
		Amount			Value			Level 1			Level 2			Level 3
		(unaudited)
Financial assets:
Cash and cash equivalents		$	41,092		$	41,092		$	41,092		$	—		$	—
Interest-bearing time deposits with other banks			131			132			—			132			—
Held-to-maturity securities			119,010			120,876			—			120,876			—
Federal Home Loan Bank stock			15,082			15,082			—			15,082			—
Loans, net			1,231,068			1,226,768			—			—			1,226,768
Accrued interest receivable			3,065			3,065			3,065			—			—

Financial liabilities:
Deposits			1,042,999			1,046,666			790,984			255,682			—
Federal Home Loan Bank advances			269,100			269,967			—			269,967			—
Securities sold under agreements to repurchase			1,632			1,632			—			1,632			—
Other borrowed funds			1,055			1,065			—			1,065			—
Accrued interest payable			1,078			1,078			1,078			—			—
Mortgagors’ escrow accounts			1,436			1,436			—			1,436			—


		December 31, 2014
		Carrying			Fair			Level 1			Level 2			Level 3
		Amount			Value			Level 1			Level 2			Level 3

Financial assets:
Cash and cash equivalents		$	51,767		$	51,767		$	51,767		$	—		$	—
Interest-bearing time deposits with other banks			131			132			—			132			—
Held-to-maturity securities			118,528			119,447			—			119,447			—
Federal Home Loan Bank stock			13,712			13,712			—			13,712			—
Loans, net			1,179,399			1,170,663			—			—			1,170,663
Accrued interest receivable			2,977			2,977			2,977			—			—

Financial liabilities:
Deposits			984,562			987,353			758,349			229,004			—
Federal Home Loan Bank advances			285,100			285,266			—			285,266			—
Securities sold under agreements to repurchase			1,392			1,392			—			1,392			—
Other borrowed funds			1,067			1,056			—			1,056			—
Accrued interest payable			961			961			961			—			—
Mortgagors’ escrow accounts			1,726			1,726			—			1,726			—

OTHER_COMPREHENSIVE_INCOME

OTHER COMPREHENSIVE INCOME	3 Months Ended
OTHER COMPREHENSIVE INCOME	Mar. 31, 2015
OTHER COMPREHENSIVE INCOME	NOTE 12 – OTHER COMPREHENSIVE INCOME


		Three months ended March 31, 2015									Three months ended March 31, 2014
		(unaudited and in thousands)									(unaudited and in thousands)
		Pre Tax			Tax			After Tax			Pre Tax		Tax			After Tax
		Amount			Expense			Amount			Amount		Expense			Amount
	Securities available-for-sale:
	Change in unrealized gain/loss during the period	$	136		$	(53	)	$	83		$	195	$	(78	)	$	117
	Reclassification adjustment for net realized gains included in net income		—			—			—			—		—			—

	Total securities available-for-sale		136			(53	)		83			195		(78	)		117

	Other comprehensive income	$	136		$	(53	)	$	83		$	195	$	(78	)	$	117

	Information on the Company’s accumulated other comprehensive income (loss), net of tax is comprised of the following components as of the periods indicated (unaudited and in thousands):


		Net unrealized (loss)			Unrecognized			Accumulated
		gain on securities			actuarial gain on			other comprehensive
		available for sale			defined benefit			income (loss)
					pension plan
	Beginning Balance: January 1, 2015	$	(72	)	$	50		$	(22	)
	Other comprehensive income		83			—			83

	Ending balance: March 31, 2015	$	11		$	50		$	61


	Beginning Balance: January 1, 2014	$	(210	)	$	22		$	(188	)
	Other comprehensive income		117			—			117

	Ending balance: March 31, 2014	$	(93	)	$	22		$	(71	)

INVESTMENTS_IN_SECURITIES_Tabl

INVESTMENTS IN SECURITIES (Tables)	3 Months Ended
INVESTMENTS IN SECURITIES (Tables)	Mar. 31, 2015
Amortized Cost and Fair Value of Available for Sale and Held-to-Maturity Securities	The amortized cost of available-for-sale (AFS) and held-to-maturity (HTM) securities and their approximate fair values were as follows at the dates indicated (in thousands):


		March 31, 2015											December 31, 2014
		Amortized		Gross			Gross			Fair			Amortized		Gross		Gross			Fair
		Cost		Unrealized			Unrealized			Value			Cost		Unrealized		Unrealized			Value
		Basis		Gains			Losses						Basis		Gains		Losses
		(unaudited)
	Available-for-sale securities:
	Corporate debt securities	$	22,181	$	157		$	(141	)	$	22,197		$	22,199	$	86	$	(206	)	$	22,079

		$	22,181	$	157		$	(141	)	$	22,197		$	22,199	$	86	$	(206	)	$	22,079


	Held-to-maturity securities:
	U.S. government sponsored mortgage-backed securities	$	101,446	$	1,536		$	(95	)	$	102,887		$	100,977	$	1,019	$	(227	)	$	101,769
	Corporate debt securities		17,564		425			—			17,989			17,551		164		(37	)		17,678

		$	119,010	$	1,961		$	(95	)	$	120,876		$	118,528	$	1,183	$	(264	)	$	119,447

Amortized Cost Basis and Estimated Fair Value of Debt Securities by Contractual Maturity	The amortized cost basis and estimated fair value of debt securities by contractual maturity at March 31, 2015 is as follows (in thousands). Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.


		March 31, 2015
		Available-for-Sale					Held-to-Maturity
		Amortized		Fair			Amortized			Fair
		Cost Basis		Value			Cost Basis			Value
		(unaudited)					(unaudited)

	Due within one year	$	—	$	—		$	41		$	42
	Due after one year through five years		12,803		12,925			7,180			7,274
	Due after five years through ten years		9,378		9,272			63,116			64,069
	Due after ten years		—		—			48,673			49,491

		$	22,181	$	22,197		$	119,010		$	120,876

Securities with Gross Unrealized Losses Aggregated by Investment Category and Length of Time	Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position follows (in thousands):


		Less than 12 Months					12 Months or longer
		Fair		Unrealized			Fair			Unrealized
		Value		Losses			Value			Losses

	March 31, 2015 (unaudited):
	Available-for-sale
	Corporate debt securities	$	—	$	—		$	4,238		$	(141	)
	Held-to-maturity
	Corporate debt securities		—		—			—			—
	U.S. government sponsored mortgage backed securities		4,957		(18	)		6,745			(77	)

	Total temporarily impaired securities	$	4,957	$	(18	)	$	10,983		$	(218	)


	December 31, 2014:
	Available-for-sale
	Corporate debt securities	$	—	$	—		$	4,185		$	(206	)
	Held-to-maturity
	Corporate debt securities		4,691		(37	)		—			—
	U.S. government sponsored mortgage backed securities		10,974		(34	)		15,637			(193	)

	Total temporarily impaired securities	$	15,665	$	(71	)	$	19,822		$	(399	)

LOANS_ALLOWANCE_FOR_LOAN_LOSSE1

LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Loans	Loans consisted of the following (dollars in thousands):


			March 31, 2015						December 31, 2014
			Amount			Percent			Amount			Percent
			(unaudited)
	Mortgage loans:
	Residential one-to-four family		$	476,913			38.69	%	$	450,572			38.16	%
	Commercial real estate loans (1)			410,944			33.34			395,178			33.47
	Home equity			134,781			10.94			131,628			11.15
	Construction loans			40,421			3.28			31,389			2.66

	Total mortgage loans			1,063,059			86.25			1,008,767			85.44


	Commercial loans			36,192			2.94			39,161			3.32
	Consumer loans:
	Indirect auto loans			132,716			10.77			131,961			11.17
	Other consumer loans			486			0.04			774			0.07

				169,394			13.75			171,896			14.56


	Total loans			1,232,453			100	%		1,180,663			100	%


	Net deferred loan costs			5,165						5,068
	Net unamortized mortgage premiums			2,653						2,549
	Allowance for loan losses			(9,203	)					(8,881	)


	Total loans, net		$	1,231,068					$	1,179,399


	-1	Includes multi-family real estate loans.
Activity in Allowance for Loan Losses by Portfolio Class and Balances of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Class	The following tables (in thousands) present the activity in the allowance for loan losses by portfolio class for the three months ended March 31, 2015 and 2014 (unaudited); and the balances of the allowance for loan losses and recorded investment in loans by portfolio class based on impairment method at March 31, 2015 (unaudited) and December 31, 2014. The recorded investment in loans in any of the following tables does not include accrued and unpaid interest or any deferred loan fees or costs, as amounts are not significant.


			Three Months Ended March 31, 2015
			Beginning balance			Provision (benefit)			Charge-offs			Recoveries			Ending balance

	Residential one-to-four family		$	2,364		$	215		$	—		$	—		$	2,579
	Commercial real estate			4,043			(8	)		—			—			4,035
	Construction			228			245			—			—			473
	Commercial			458			(42	)		—			—			416
	Home equity			828			(88	)		—			—			740
	Indirect auto			778			6			(26	)		12			770
	Other consumer			11			4			(3	)		1			13
	Unallocated			171			6			—			—			177

	Total		$	8,881		$	338		$	(29	)	$	13		$	9,203


			Three Months Ended March 31, 2014
			Beginning balance			Provision (benefit)			Charge-offs			Recoveries			Ending balance

	Residential one-to-four family		$	2,189		$	(143	)	$	—		$	—		$	2,046
	Commercial real estate			3,621			502			—			—			4,123
	Construction			134			27			—			—			161
	Commercial			419			(12	)		—			—			407
	Home equity			681			(80	)		—			—			601
	Indirect auto			749			86			(3	)		1			833
	Other consumer			26			(6	)		(6	)		4			18
	Unallocated			139			14			—			—			153

	Total		$	7,958		$	388		$	(9	)	$	5		$	8,342



			March 31, 2015
			Individually evaluated for impairment						Collectively evaluated for impairment						Total
			Loan balance			Allowance			Loan balance			Allowance			Loan balance		Allowance
	Residential one-to-four family		$	6,226		$	179		$	470,687		$	2,400		$	476,913	$	2,579
	Commercial real estate			3,837			5			407,107			4,030			410,944		4,035
	Construction			—			—			40,421			473			40,421		473
	Commercial			—			—			36,192			416			36,192		416
	Home equity			296			—			134,485			740			134,781		740
	Indirect auto			—			—			132,716			770			132,716		770
	Other consumer			—			—			486			13			486		13
	Unallocated			—			—			—			177			—		177

	Total		$	10,359		$	184		$	1,222,094		$	9,019		$	1,232,453	$	9,203


			31-Dec-14
			Individually evaluated for impairment						Collectively evaluated for impairment						Total
			Loan balance			Allowance			Loan balance			Allowance			Loan balance		Allowance
	Residential one-to-four family		$	6,256		$	188		$	444,316		$	2,176		$	450,572	$	2,364
	Commercial real estate			3,882			5			391,296			4,038			395,178		4,043
	Construction			—			—			31,389			228			31,389		228
	Commercial			—			—			39,161			458			39,161		458
	Home equity			296			—			131,332			828			131,628		828
	Indirect auto			12			—			131,949			778			131,961		778
	Other consumer			—			—			774			11			774		11
	Unallocated			—			—			—			171			—		171

	Total		$	10,446		$	193		$	1,170,217		$	8,688		$	1,180,663	$	8,881

Information about Loans that Meet Definition of Impaired Loan	Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of March 31, 2015 (unaudited and in thousands):


			Impaired loans with a related allowance for credit losses
			Recorded Investment			Unpaid			Specific Allowance
						Principal
						Balance
	Residential one-to-four family		$	1,179		$	1,180		$	179
	Commercial real estate			3,045			3,045			5
	Construction			—			—			—
	Commercial			—			—			—
	Home equity			—			—			—
	Indirect auto			—			—			—
	Other consumer			—			—			—

	Totals		$	4,224		$	4,225		$	184


			Impaired loans with no related allowance for credit losses
			Recorded Investment			Unpaid			Specific Allowance
						Principal
						Balance
	Residential one-to-four family		$	5,047		$	5,206		$	—
	Commercial real estate			792			792			—
	Construction			—			—			—
	Commercial			—			—			—
	Home equity			296			298			—
	Indirect auto			—			—			—
	Other consumer			—			—			—

	Totals		$	6,135		$	6,296		$	—


	Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of December 31, 2014 (in thousands):


			Impaired loans with a related allowance for credit losses
			Recorded			Unpaid			Specific
			Investment			Principal			Allowance
						Balance
	Residential one-to-four family		$	1,186		$	1,186		$	188
	Commercial real estate			3,060			3,060			5
	Construction			—			—			—
	Commercial			—			—			—
	Home equity			—			—			—
	Indirect auto			—			—			—
	Other consumer			—			—			—

	Totals		$	4,246		$	4,246		$	193


			Impaired loans with no related allowance for credit losses
			Recorded			Unpaid			Specific
			Investment			Principal			Allowance
						Balance
	Residential one-to-four family		$	5,070		$	5,229		$	—
	Commercial real estate			822			822			—
	Construction			—			—			—
	Commercial			—			—			—
	Home equity			296			298			—
	Indirect auto			12			12			—
	Other consumer			—			—			—

	Totals		$	6,200		$	6,361		$	—

Information regarding Interest Income Recognized on Impaired Loans	The following tables set forth information regarding interest income recognized on impaired loans, by portfolio, for the periods indicated (unaudited and in thousands):


			Three months ended March 31, 2015						Three months ended March 31, 2014
	With an allowance recorded		Average			Interest			Average			Interest
			Recorded			Income			Recorded			Income
			Investment			Recognized			Investment			Recognized
	Residential one-to-four family		$	1,181		$	8		$	2,550		$	105
	Commercial real estate			3,050			31			3,106			20
	Construction			—			—			—			—
	Commercial			—			—			—			—
	Home equity			—			—			200			1
	Indirect auto			—			—			—			—
	Other consumer			—			—			—			—

	Totals		$	4,231		$	39		$	5,856		$	126


			Three months ended March 31, 2015						Three months ended March 31, 2014
	Without an allowance recorded		Average			Interest			Average			Interest
			Recorded			Income			Recorded			Income
			Investment			Recognized			Investment			Recognized
	Residential one-to-four family		$	5,053		$	25		$	3,143		$	26
	Commercial real estate			802			8			956			8
	Construction			—			—			—			—
	Commercial			—			—			—			—
	Home equity			296			2			200			2
	Indirect auto			5			—			—			—
	Other consumer			—			—			—			—

	Totals		$	6,156		$	35		$	4,299		$	36

Summary of Past Due and Non-Accrual Loans	The following is a summary of past due and non-accrual loans (in thousands):


			March 31, 2015 (unaudited)
			30–59 Days			60–89 Days			90 Days			Total			90 days		Loans on
									or More			Past Due			or more		Non-accrual
															and accruing
	Real estate loans:
	Residential one-to-four family		$	274		$	—		$	2,659		$	2,933		$	—	$	2,659
	Commercial real estate			—			—			—			—			—		—
	Home equity			614			—			96			710			—		96
	Construction			—			—			—			—			—		—
	Other loans:												—
	Commercial			—			—			—			—			—		—
	Indirect auto			470			54			—			524			—		—
	Other consumer			—			—			—			—			—		—

	Total		$	1,358		$	54		$	2,755		$	4,167		$	—	$	2,755


			31-Dec-14
			30–59 Days			60–89 Days			90 Days			Total			90 days		Loans on
									or More			Past Due			or more		Non-accrual
															and accruing
	Real estate loans:
	Residential one-to-four family		$	—		$	230		$	2,432		$	2,662		$	—	$	2,662
	Commercial real estate			—			—			—			—			—		—
	Home equity			270			—			96			366			—		96
	Construction			—			—			—			—			—		—
	Other loans:
	Commercial			—			—			—			—			—		—
	Indirect auto			463			45			12			520			—		12
	Other consumer			—			—			—			—			—		—

	Total		$	733		$	275		$	2,540		$	3,548		$	—	$	2,770

Company's Loans by Risk Rating	The following tables present the Company’s loans by risk rating at March 31, 2015 (unaudited) and December 31, 2014 (in thousands). There were no loans rated as 6 (“doubtful”) or 7 (“loss”) at the dates indicated.


			March 31, 2015
			Loans rated 1-3			Loans rated 4			Loans rated 5			Loans not rated (A)			Total

	Residential one-to-four family		$	—		$	1,128		$	3,393		$	472,392		$	476,913
	Commercial real estate			405,320			770			4,854			—			410,944
	Construction			40,421			—			—			—			40,421
	Commercial			36,191			1			—			—			36,192
	Home equity			—			—			895			133,886			134,781
	Indirect auto			—			—			—			132,716			132,716
	Other consumer			—			—			—			486			486

	Total		$	481,932		$	1,899		$	9,142		$	739,480		$	1,232,453


			December 31, 2014
			Loans rated 1-3			Loans rated 4			Loans rated 5			Loans not rated (A)			Total

	Residential one-to-four family		$	—		$	1,134		$	3,400		$	446,038		$	450,572
	Commercial real estate			386,513			—			8,665			—			395,178
	Construction			31,389			—			—			—			31,389
	Commercial			39,159			2			—			—			39,161
	Home equity			—			—			895			130,733			131,628
	Indirect auto			—			—			—			131,961			131,961
	Consumer			—			—			—			774			774

	Total		$	457,061		$	1,136		$	12,960		$	709,506		$	1,180,663


	(A)	Residential real estate and home equity loans are not formally risk rated by the Company unless the loan become delinquent.
Trouble Debt Restructuring Accrual Status	The following table shows the Company’s total TDRs and other pertinent information as of the dates indicated (in thousands):


			March 31, 2015			December 31, 2014
			(unaudited)
	TDRs on Accrual Status		$	7,605		$	7,675
	TDRs on Nonaccrual Status			1,551			1,551

	Total TDRs		$	9,156		$	9,226


	Amount of specific allocation included in the allowance for loan losses associated with TDRs		$	174		$	174

	Additional commitments to lend to a borrower who has been a party to a TDR		$	—		$	—

TRANSFERS_AND_SERVICING_Tables

TRANSFERS AND SERVICING (Tables)	3 Months Ended
TRANSFERS AND SERVICING (Tables)	Mar. 31, 2015
Changes in Mortgage Servicing Rights	Changes in mortgage servicing rights, which are included in other assets, were as follows (in thousands):


		Three months ended March 31,
		2015			2014
		(unaudited)
	Balance at beginning of period	$	476		$	411
	Capitalization		22			7
	Amortization		(23	)		(17	)
	Valuation allowance adjustment		(12	)		2

	Balance at end of period	$	463		$	403

PLEDGED_ASSETS_Tables

PLEDGED ASSETS (Tables)	3 Months Ended
PLEDGED ASSETS (Tables)	Mar. 31, 2015
Securities and Loans Pledged to Secure Securities Sold Under Agreements to Repurchase, FHLB Advances and Credit Facilities Available	The following securities and loans were pledged to secure securities sold under agreements to repurchase, FHLB advances and credit facilities available (in thousands).


	March 31, 2015 (unaudited)	Securities held-to-maturity		Loans		Total pledged
	March 31, 2015 (unaudited)	(at cost)		receivable		assets
	Repurchase agreements	$	3,530	$	—	$	3,530
	FHLB borrowings		51,680		544,277		595,957
	Federal Reserve Bank LOC		15,672		—		15,672

	Total pledged assets	$	70,882	$	544,277	$	615,159



	December 31, 2014	Securities held-to-maturity		Loans		Total pledged
	December 31, 2014	(at cost)		receivable		assets
	Repurchase agreements	$	3,830	$	—	$	3,830
	FHLB borrowings		51,062		518,375		569,437
	Federal Reserve Bank LOC		15,662		—		15,662

	Total pledged assets	$	70,554	$	518,375	$	588,929

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
EARNINGS PER SHARE (Tables)	Mar. 31, 2015
Components of Earning Per Share	Earnings per share consisted of the following components for the periods indicated (unaudited and dollars in thousands except per share data):


		Three months ended
		March 31,
		2015			2014
	Net income	$	1,374		$	680
	Undistributed earnings attributable to participating securities		(34	)		(23	)

	Net income allocated to common stockholders	$	1,340		$	657


	Weighted average shares outstanding, basic		8,442,391			8,345,890
	Effect of dilutive shares		156,728			28,470

	Weighted average shares outstanding, assuming dilution		8,599,119			8,374,360


	Basic EPS	$	0.16		$	0.08
	Effect of dilutive shares		—			—

	Diluted EPS	$	0.16		$	0.08

Options Excluded from Computation of EPS	The following table illustrates average options to purchase shares of common stock that were outstanding but not included in the computation of EPS because they were antidilutive under the treasury stock method (unaudited):


		Three months ended
		March 31,
		2015			2014
	Stock options		23,867			63,170

STOCK_BASED_COMPENSATION_Table

STOCK BASED COMPENSATION (Tables)	3 Months Ended
STOCK BASED COMPENSATION (Tables)	Mar. 31, 2015
Pre-Tax Expense Associated with Stock Option and Restricted Stock Awards and Related Tax Benefits Recognized	The following table presents the pre-tax expense associated with stock options and restricted stock awards and the related tax benefits recognized (in thousands and unaudited):


		Three months		Three months
		ended March 31,		ended March 31,
		2015		2014
	Stock options	$	188	$	232
	Restricted stock awards		208		245

	Total stock based compensation expense		396		477

	Related tax benefits recognized in earnings	$	116	$	146

Compensation Cost Related to Non-Vested Awards Not Yet Recognized and Weighted Average Recognition Period	Total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized is as follows (in thousands):


		As of March 31, 2015				As of December 31, 2014
		(unaudited)
		Amount		Weighted		Amount		Weighted
		Amount		average period		Amount		average period
	Stock options	$	2,009		2.8	$	2,195		3
	Restricted stock		2,134		2.7		2,313		2.9

	Total	$	4,143			$	4,508

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Mar. 31, 2015
Summary of Financial Assets Measured at Fair Value on Recurring Basis	The following table summarizes financial assets measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):


		Level 1		Level 2		Level 3		Total
		Level 1		Level 2		Level 3		Fair Value
		(unaudited)
	At March 31, 2015
	Securities available-for-sale
	Corporate debt securities	$	—	$	22,197	$	—	$	22,197
	Trading securities
	Rabbi trust investments		2,406		—		—		2,406

	Totals	$	2,406	$	22,197	$	—	$	24,603



		Level 1		Level 2		Level 3		Total
		Level 1		Level 2		Level 3		Fair Value

	At December 31, 2014
	Securities available-for-sale
	Corporate debt securities	$	—	$	22,079	$	—	$	22,079
	Trading securities
	Rabbi trust investments		2,336		—		—		2,336

	Totals	$	2,336	$	22,079	$	—	$	24,415

Schedule of Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments	The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows (in thousands):


		March 31, 2015
		Carrying		Fair		Level 1		Level 2		Level 3
		Amount		Value		Level 1		Level 2		Level 3
		(unaudited)
	Financial assets:
	Cash and cash equivalents	$	41,092	$	41,092	$	41,092	$	—	$	—
	Interest-bearing time deposits with other banks		131		132		—		132		—
	Held-to-maturity securities		119,010		120,876		—		120,876		—
	Federal Home Loan Bank stock		15,082		15,082		—		15,082		—
	Loans, net		1,231,068		1,226,768		—		—		1,226,768
	Accrued interest receivable		3,065		3,065		3,065		—		—

	Financial liabilities:
	Deposits		1,042,999		1,046,666		790,984		255,682		—
	Federal Home Loan Bank advances		269,100		269,967		—		269,967		—
	Securities sold under agreements to repurchase		1,632		1,632		—		1,632		—
	Other borrowed funds		1,055		1,065		—		1,065		—
	Accrued interest payable		1,078		1,078		1,078		—		—
	Mortgagors’ escrow accounts		1,436		1,436		—		1,436		—


		December 31, 2014
		Carrying		Fair		Level 1		Level 2		Level 3
		Amount		Value		Level 1		Level 2		Level 3

	Financial assets:
	Cash and cash equivalents	$	51,767	$	51,767	$	51,767	$	—	$	—
	Interest-bearing time deposits with other banks		131		132		—		132		—
	Held-to-maturity securities		118,528		119,447		—		119,447		—
	Federal Home Loan Bank stock		13,712		13,712		—		13,712		—
	Loans, net		1,179,399		1,170,663		—		—		1,170,663
	Accrued interest receivable		2,977		2,977		2,977		—		—

	Financial liabilities:
	Deposits		984,562		987,353		758,349		229,004		—
	Federal Home Loan Bank advances		285,100		285,266		—		285,266		—
	Securities sold under agreements to repurchase		1,392		1,392		—		1,392		—
	Other borrowed funds		1,067		1,056		—		1,056		—
	Accrued interest payable		961		961		961		—		—
	Mortgagors’ escrow accounts		1,726		1,726		—		1,726		—
Loans Held for Sale and Impaired Loans
Fair Value of Assets Measured on Nonrecurring Basis	The following table (in thousands) presents certain impaired loans that were re-measured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses based upon the fair value of the underlying collateral at March 31, 2015 (unaudited) and December 31, 2014.


		March 31, 2015
		Level 1		Level 2		Level 3

	Impaired loans	$	—	$	—	$	1,958

	Totals	$	—	$	—	$	1,958



		31-Dec-14
		Level 1		Level 2		Level 3

	Impaired loans	$	—	$	—	$	1,951

	Totals	$	—	$	—	$	1,951

Other Real Estate Owned
Fair Value of Assets Measured on Nonrecurring Basis	The following tables (in thousands) present the non-financial assets that were re-measured and reported at the lower of cost or fair value at the periods indicated:


		March 31, 2015
		Level 1		Level 2		Level 3
		(unaudited)
	Mortgage servicing rights	$	—	$	—	$	463

	Totals	$	—	$	—	$	463



		December 31, 2014
		Level 1		Level 2		Level 3

	Mortgage servicing rights	$	—	$	—	$	476

	Totals	$	—	$	—	$	476

OTHER_COMPREHENSIVE_INCOME_Tab

OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
OTHER COMPREHENSIVE INCOME (Tables)	Mar. 31, 2015
Schedules of Other Comprehensive Income
		Three months ended March 31, 2015									Three months ended March 31, 2014
		(unaudited and in thousands)									(unaudited and in thousands)
		Pre Tax			Tax			After Tax			Pre Tax		Tax			After Tax
		Amount			Expense			Amount			Amount		Expense			Amount
	Securities available-for-sale:
	Change in unrealized gain/loss during the period	$	136		$	(53	)	$	83		$	195	$	(78	)	$	117
	Reclassification adjustment for net realized gains included in net income		—			—			—			—		—			—

	Total securities available-for-sale		136			(53	)		83			195		(78	)		117

	Other comprehensive income	$	136		$	(53	)	$	83		$	195	$	(78	)	$	117

Components of Accumulated Other Comprehensive (Loss) Income, Net of Tax	Information on the Company’s accumulated other comprehensive income (loss), net of tax is comprised of the following components as of the periods indicated (unaudited and in thousands):


		Net unrealized (loss)			Unrecognized			Accumulated
		gain on securities			actuarial gain on			other comprehensive
		available for sale			defined benefit			income (loss)
					pension plan
	Beginning Balance: January 1, 2015	$	(72	)	$	50		$	(22	)
	Other comprehensive income		83			—			83

	Ending balance: March 31, 2015	$	11		$	50		$	61


	Beginning Balance: January 1, 2014	$	(210	)	$	22		$	(188	)
	Other comprehensive income		117			—			117

	Ending balance: March 31, 2014	$	(93	)	$	22		$	(71	)

Amortized_Cost_of_Available_fo

Amortized Cost of Available for Sale and Held-to-Maturity Securities (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$22,181	$22,199
Available-for-sale Securities, Gross Unrealized Gains	157	86
Available-for-sale Securities, Gross Unrealized Losses	-141	-206
Available-for-sale Securities, Fair Value	22,197	22,079
Held-to-maturity securities, Amortized Cost Basis	119,010	118,528
Held-to-maturity securities, Gross Unrealized Gains	1,961	1,183
Held-to-maturity securities, Gross Unrealized Losses	-95	-264
Held-to-maturity securities, Fair Value	120,876	119,447
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	22,181	22,199
Available-for-sale Securities, Gross Unrealized Gains	157	86
Available-for-sale Securities, Gross Unrealized Losses	-141	-206
Available-for-sale Securities, Fair Value	22,197	22,079
Held-to-maturity securities, Amortized Cost Basis	17,564	17,551
Held-to-maturity securities, Gross Unrealized Gains	425	164
Held-to-maturity securities, Gross Unrealized Losses		-37
Held-to-maturity securities, Fair Value	17,989	17,678
U.S. government sponsored mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Held-to-maturity securities, Amortized Cost Basis	101,446	100,977
Held-to-maturity securities, Gross Unrealized Gains	1,536	1,019
Held-to-maturity securities, Gross Unrealized Losses	-95	-227
Held-to-maturity securities, Fair Value	$102,887	$101,769

Amortized_Cost_Basis_and_Estim

Amortized Cost Basis and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Due within one year, Available-for-sale Securities, Amortized Cost Basis	$0
Due after one year through five years, Available-for-sale Securities, Amortized Cost Basis	12,803
Due after five years through ten years, Available-for-sale Securities, Amortized Cost Basis	9,378
Due after ten years, Available-for-sale Securities, Amortized Cost Basis	0
Available-for-sale Securities, Amortized Cost Basis	22,181	22,199
Due within one year, Available-for-sale Securities, Fair Value	0
Due after one year through five years, Available-for-sale Securities, Fair Value	12,925
Due after five years through ten years, Available-for-sale Securities, Fair Value	9,272
Due after ten years, Available-for-sale Securities, Fair Value	0
Available-for-sale Securities, Fair Value	22,197	22,079
Due within one year, Held-to-Maturity, Amortized Cost Basis	41
Due after one year through five years, Held-to-Maturity, Amortized Cost Basis	7,180
Due after five years through ten years, Held-to-Maturity, Amortized Cost Basis	63,116
Due after ten years, Held-to-Maturity, Amortized Cost Basis	48,673
Held-to-maturity securities, Amortized Cost Basis	119,010	118,528
Due within one year, Held-to-Maturity, Fair Value	42
Due after one year through five years, Held-to-Maturity, Fair Value	7,274
Due after five years through ten years, Held-to-Maturity, Fair Value	64,069
Due after ten years, Held-to-Maturity, Fair Value	49,491
Held-to-Maturity, Fair Value	$120,876	$119,447

Investments_in_Securities_Addi

Investments in Securities - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	Securities		Investment
	Investment
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales of available-for-sale securities	$0	$0
Number of debt securities at unrealized losses	12		21
Securities that had unrealized losses, aggregate depreciation percentage	1.46%		1.31%
Rabbi Trust
Schedule of Available-for-sale Securities [Line Items]
Trading securities, fair value	2,406,000		2,336,000
Trading securities, unrealized holding gain (loss)	$39,000	$22,000

Securities_with_Gross_Unrealiz

Securities with Gross Unrealized Losses Aggregated by Investment Category and Length of Time (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$4,957	$15,665
Less than 12 Months, Unrealized Losses	-18	-71
12 Months or longer, Fair Value	10,983	19,822
12 Months or longer, Unrealized Losses	-218	-399
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
12 Months or longer, Fair Value	4,238	4,185
12 Months or longer, Unrealized Losses	-141	-206
Held-to-maturity Securities \| Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value		4,691
Less than 12 Months, Unrealized Losses		-37
U.S. government sponsored mortgage-backed securities \| Held-to-maturity Securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	4,957	10,974
Less than 12 Months, Unrealized Losses	-18	-34
12 Months or longer, Fair Value	6,745	15,637
12 Months or longer, Unrealized Losses	($77)	($193)

Recovered_Sheet1

Loans Allowance for Loan Losses And Credit Quality - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	Contract	Contract	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Due days of accrual of interest on all loans	90 days
Originate loans with a loan-to-value	80.00%
Unallocated reserves for loan losses	$177,000		$171,000
Troubled debt restructurings	$9,156,000		$9,226,000
Number of financing receivables modified by troubled debt restructurings	0	0
TDR's defaulted modification, number of contracts	0	0

Summary_of_Loans_Detail

Summary of Loans (Detail) (USD $)	Mar. 31, 2015		Dec. 31, 2014		Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014		Mar. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	$1,232,453		$1,180,663
Net deferred loan costs	5,165		5,068
Net unamortized mortgage premiums	2,653		2,549
Allowance for loan losses	-9,203		-8,881		-8,342	-7,958
Total loans, net	1,231,068		1,179,399
Mortgage loans on real estate percent	86.25%		85.44%
Total loans, Percent	100.00%		100.00%
Construction loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	40,421		31,389
Allowance for loan losses	-473		-228		-161	-134
Commercial real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	410,944		395,178
Allowance for loan losses	-4,035		-4,043		-4,123	-3,621
Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	134,781		131,628
Allowance for loan losses	-740		-828		-601	-681
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	36,192		39,161
Allowance for loan losses	-416		-458		-407	-419
Commercial loans, percentage	2.94%		3.32%
Commercial and Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	169,394		171,896
Commercial and consumer gross percent	13.75%		14.56%
Residential one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	476,913		450,572
Allowance for loan losses	-2,579		-2,364		-2,046	-2,189
Consumer loans Indirect auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	132,716		131,961
Allowance for loan losses	-770		-778		-833	-749
Indirect auto loans, percentage	10.77%		11.17%
Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	486		774
Allowance for loan losses	-13		-11		-18	-26
Other consumer loans, percent	0.04%		0.07%
Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	1,063,059		1,008,767
Real estate loans \| Construction loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	40,421		31,389
Real estate loans \| Commercial real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	410,944	[1]	395,178	[1]
Real estate loans \| Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	134,781		131,628
Real estate loans \| Residential one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	$476,913		$450,572
Mortgage loans \| Construction loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate percent	3.28%		2.66%
Mortgage loans \| Commercial real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate percent	33.34%	[1]	33.47%	[1]
Mortgage loans \| Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate percent	10.94%		11.15%
Mortgage loans \| Residential one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate percent	38.69%		38.16%

[1]	Includes multi-family real estate loans.

Allowance_for_Loan_Losses_by_P

Allowance for Loan Losses by Portfolio Class (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$8,881	$7,958
Provision (benefit)	338	388
Charge-offs	-29	-9
Recoveries	13	5
Ending balance	9,203	8,342
Construction loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	228	134
Provision (benefit)	245	27
Ending balance	473	161
Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	4,043	3,621
Provision (benefit)	-8	502
Ending balance	4,035	4,123
Commercial loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	458	419
Provision (benefit)	-42	-12
Ending balance	416	407
Home equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	828	681
Provision (benefit)	-88	-80
Ending balance	740	601
Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	2,364	2,189
Provision (benefit)	215	-143
Ending balance	2,579	2,046
Consumer loans Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	778	749
Provision (benefit)	6	86
Charge-offs	-26	-3
Recoveries	12	1
Ending balance	770	833
Other consumer loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	11	26
Provision (benefit)	4	-6
Charge-offs	-3	-6
Recoveries	1	4
Ending balance	13	18
Unallocated
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	171	139
Provision (benefit)	6	14
Ending balance	$177	$153

Individually_Impaired_Loans_by

Individually Impaired Loans by Class of Loans (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance	$10,359	$10,446
Individually evaluated for impairment, Loan allowance	184	193
Collectively evaluated for impairment, Loan balance	1,222,094	1,170,217
Collectively evaluated for impairment, Loan allowance	9,019	8,688
Total Loan balance	1,232,453	1,180,663
Total Loan, allowance	9,203	8,881	8,342	7,958
Construction loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan balance	40,421	31,389
Collectively evaluated for impairment, Loan allowance	473	228
Total Loan balance	40,421	31,389
Total Loan, allowance	473	228	161	134
Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance	3,837	3,882
Individually evaluated for impairment, Loan allowance	5	5
Collectively evaluated for impairment, Loan balance	407,107	391,296
Collectively evaluated for impairment, Loan allowance	4,030	4,038
Total Loan balance	410,944	395,178
Total Loan, allowance	4,035	4,043	4,123	3,621
Commercial loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan balance	36,192	39,161
Collectively evaluated for impairment, Loan allowance	416	458
Total Loan balance	36,192	39,161
Total Loan, allowance	416	458	407	419
Home equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance	296	296
Collectively evaluated for impairment, Loan balance	134,485	131,332
Collectively evaluated for impairment, Loan allowance	740	828
Total Loan balance	134,781	131,628
Total Loan, allowance	740	828	601	681
Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance	6,226	6,256
Individually evaluated for impairment, Loan allowance	179	188
Collectively evaluated for impairment, Loan balance	470,687	444,316
Collectively evaluated for impairment, Loan allowance	2,400	2,176
Total Loan balance	476,913	450,572
Total Loan, allowance	2,579	2,364	2,046	2,189
Consumer loans Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance		12
Collectively evaluated for impairment, Loan balance	132,716	131,949
Collectively evaluated for impairment, Loan allowance	770	778
Total Loan balance	132,716	131,961
Total Loan, allowance	770	778	833	749
Other consumer loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan balance	486	774
Collectively evaluated for impairment, Loan allowance	13	11
Total Loan balance	486	774
Total Loan, allowance	13	11	18	26
Unallocated
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan allowance	177	171
Total Loan, allowance	$177	$171	$153	$139

Impaired_Loans_Detail

Impaired Loans (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with a related allowance for credit losses at, Recorded Investment	$4,224		$4,246
Impaired loans with a related allowance for credit losses at, Unpaid Principal Balance	4,225		4,246
Impaired loans with a related allowance for credit losses at, Specific Allowance	184		193
Impaired loans with no related allowance for credit losses, Recorded Investment	6,135		6,200
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	6,296		6,361
Impaired loans with a related allowance for credit losses, Average recorded Investment	4,231	5,856
Impaired loans with a related allowance for credit losses, Income Recognized	39	126
Impaired loans with no related allowance for credit losses, Average recorded Investment	6,156	4,299
Impaired loans with no related allowance for credit losses, Interest income recognized	35	36
Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with a related allowance for credit losses at, Recorded Investment	3,045		3,060
Impaired loans with a related allowance for credit losses at, Unpaid Principal Balance	3,045		3,060
Impaired loans with a related allowance for credit losses at, Specific Allowance	5		5
Impaired loans with no related allowance for credit losses, Recorded Investment	792		822
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	792		822
Impaired loans with a related allowance for credit losses, Average recorded Investment	3,050	3,106
Impaired loans with a related allowance for credit losses, Income Recognized	31	20
Impaired loans with no related allowance for credit losses, Average recorded Investment	802	956
Impaired loans with no related allowance for credit losses, Interest income recognized	8	8
Home equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with no related allowance for credit losses, Recorded Investment	296		296
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	298		298
Impaired loans with a related allowance for credit losses, Average recorded Investment		200
Impaired loans with a related allowance for credit losses, Income Recognized		1
Impaired loans with no related allowance for credit losses, Average recorded Investment	296	200
Impaired loans with no related allowance for credit losses, Interest income recognized	2	2
Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with a related allowance for credit losses at, Recorded Investment	1,179		1,186
Impaired loans with a related allowance for credit losses at, Unpaid Principal Balance	1,180		1,186
Impaired loans with a related allowance for credit losses at, Specific Allowance	179		188
Impaired loans with no related allowance for credit losses, Recorded Investment	5,047		5,070
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	5,206		5,229
Impaired loans with a related allowance for credit losses, Average recorded Investment	1,181	2,550
Impaired loans with a related allowance for credit losses, Income Recognized	8	105
Impaired loans with no related allowance for credit losses, Average recorded Investment	5,053	3,143
Impaired loans with no related allowance for credit losses, Interest income recognized	25	26
Consumer loans Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with no related allowance for credit losses, Recorded Investment			12
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance			12
Impaired loans with no related allowance for credit losses, Average recorded Investment	$5

Past_Due_and_NonAccrual_Loans_

Past Due and Non-Accrual Loans (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
30-59 Days	$1,358	$733
60-89 Days	54	275
90 Days or More	2,755	2,540
Total Past Due	4,167	3,548
90 days or more and accruing	0	0
Loans on Non-accrual	2,755	2,770
Other consumer loans
Financing Receivable, Allowance for Credit Losses [Line Items]
90 days or more and accruing	0
Consumer Loan \| Commercial loans
Financing Receivable, Allowance for Credit Losses [Line Items]
90 days or more and accruing	0	0
Consumer Loan \| Consumer loans Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
30-59 Days	470	463
60-89 Days	54	45
90 Days or More		12
Total Past Due	524	520
90 days or more and accruing	0	0
Loans on Non-accrual		12
Other Consumer Loan
Financing Receivable, Allowance for Credit Losses [Line Items]
90 days or more and accruing		0
Real estate loans \| Construction loans
Financing Receivable, Allowance for Credit Losses [Line Items]
90 days or more and accruing	0	0
Real estate loans \| Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
90 days or more and accruing	0	0
Real estate loans \| Home equity
Financing Receivable, Allowance for Credit Losses [Line Items]
30-59 Days	614	270
90 Days or More	96	96
Total Past Due	710	366
90 days or more and accruing	0	0
Loans on Non-accrual	96	96
Real estate loans \| Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
30-59 Days	274
60-89 Days		230
90 Days or More	2,659	2,432
Total Past Due	2,933	2,662
90 days or more and accruing	0	0
Loans on Non-accrual	$2,659	$2,662

Loans_Classified_by_Risk_Ratin

Loans Classified by Risk Rating (Detail) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	$1,232,453		$1,180,663
Construction loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	40,421		31,389
Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	410,944		395,178
Commercial loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	36,192		39,161
Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	134,781		131,628
Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	476,913		450,572
Consumer loans Indirect auto loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	132,716		131,961
Other consumer loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	486		774
Loans rated 1-3
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	481,932		457,061
Loans rated 1-3 \| Construction loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	40,421		31,389
Loans rated 1-3 \| Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	405,320		386,513
Loans rated 1-3 \| Commercial loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	36,191		39,159
Loans rated 4
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	1,899		1,136
Loans rated 4 \| Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	770
Loans rated 4 \| Commercial loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	1		2
Loans rated 4 \| Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	1,128		1,134
Loans rated 5
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	9,142		12,960
Loans rated 5 \| Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	4,854		8,665
Loans rated 5 \| Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	895		895
Loans rated 5 \| Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	3,393		3,400
Loans not rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	739,480	[1]	709,506	[1]
Loans not rated \| Home equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	133,886	[1]	130,733	[1]
Loans not rated \| Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	472,392	[1]	446,038	[1]
Loans not rated \| Consumer loans Indirect auto loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	132,716	[1]	131,961	[1]
Loans not rated \| Other consumer loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	$486	[1]	$774	[1]

[1]	Residential real estate and home equity loans are not formally risk rated by the Company unless the loan become delinquent.

Troubled_Debt_Restructuring_Ac

Troubled Debt Restructuring Accrual Status (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total TDRs	$9,156	$9,226
Amount of specific allocation included in the allowance for loan losses associated with TDRs	174	174
Additional commitments to lend to a borrower who has been a party to a TDR	0	0
Accrual Loans
Financing Receivable, Recorded Investment [Line Items]
Total TDRs	7,605	7,675
Non Accrual Loans
Financing Receivable, Recorded Investment [Line Items]
Total TDRs	$1,551	$1,551

Transfers_and_Servicing_Additi

Transfers and Servicing - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Mar. 16, 2006	Mar. 31, 2015	Dec. 31, 2014	Mar. 16, 2006
	Loan	Mar. 31, 2015	Dec. 31, 2014	Mar. 16, 2006
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Principal balance of loans sold to another financial institution	$10.50			$10.50
Number of loans sold to another financial institution	17
Total principal balance of loans		1.1	1.1
Initial period for repurchase of loan		120 months
Repurchase Agreement		Loan that becomes 90 days past due
Residential Mortgage
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Loans previously sold and serviced		65.4	69.5
Transferred and Servicing Loan
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Total principal balance of loans		1.1	1.1
Consumer loans Indirect auto loans
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Loans previously sold and serviced		$84.10	$94.70

Changes_in_Mortgage_Servicing_

Changes in Mortgage Servicing Rights (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Servicing Asset at Amortized Cost [Line Items]
Balance at beginning of period	$476	$411
Capitalization	22	7
Amortization	-23	-17
Valuation allowance adjustment	-12	2
Balance at end of period	$463	$403

Recovered_Sheet2

Securities Sold Under Agreements to Repurchase and Other Borrowed Funds - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Servicing Asset at Amortized Cost [Line Items]
Balance of securities sold under agreements to repurchase	$1,632,000	$1,392,000
Total principal balance of loans	$1,100,000	$1,100,000

Recovered_Sheet3

Employee and Director Benefit Plans - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated liability	$1,100,000		$985,000
Compensation expense recognized	366,000	365,000
Percentage of eligible compensation of employee	75.00%
Contributions by the Company	237,000	150,000
Percentage of deferred compensation vested	100.00%
Expense recognized by the company	0	31,000
Capital Appreciation Plan, Benefits paid	266,000
ESOP, purchase shares	458,643
Common stock price per share	$10
Loan obtained by the ESOP, payable annually over	30 years
Loan Obtained By ESOP Rate Per Annum Equal To Prime Rate	3.25%
ESOP expense	72,000	63,000
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fully vested participants, years of service to complete	5 years
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fully vested participants, years of service to complete	10 years
Deferred Compensation Plan \| Rabbi Trust
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Recorded liability	2,400,000		2,300,000
Directors
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated liability	647,000		648,000
Executive Officers
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit upon termination of employment at or after age	55
Reduced benefits available prior to attaining age	55
Estimated liability	$1,800,000		$1,800,000
Executive Officers \| Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of years of service to complete	10 years
Executive Officers \| Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of years of service to complete	10 years

Securities_and_Loans_Pledged_t

Securities and Loans Pledged to Secure Securities Sold Under Agreements to Repurchase, FHLB Advances and Credit Facilities Available (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	$70,882	$70,554
Loans receivable	544,277	518,375
Total pledged assets	615,159	588,929
Repurchase agreements
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	3,530	3,830
Total pledged assets	3,530	3,830
FHLB borrowings
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	51,680	51,062
Loans receivable	544,277	518,375
Total pledged assets	595,957	569,437
Federal Reserve Bank LOC
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	15,672	15,662
Total pledged assets	$15,672	$15,662

Earning_Per_Share_Detail

Earning Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Computation of Earnings Per Share [Line Items]
Net income	$1,374	$680
Undistributed earnings attributable to participating securities	-34	-23
Net income allocated to common stockholders	$1,340	$657
Weighted average shares outstanding, basic	8,442,391	8,345,890
Effect of dilutive shares	156,728	28,470
Weighted average shares outstanding, assuming dilution	8,599,119	8,374,360
Basic EPS	$0.16	$0.08
Effect of dilutive shares	$0	$0
Diluted EPS	$0.16	$0.08

Options_Outstanding_Excluded_F

Options Outstanding Excluded From Computation of Earnings Per Share (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options	23,867	63,170

Earnings_Per_Share_Additional_

Earnings Per Share - Additional information (Detail) (Maximum)	Jun. 22, 2013
Maximum
Computation of Earnings Per Share [Line Items]
Share repurchase program, shares authorized to be repurchased	500,000

PreTax_Expense_Associated_with

Pre-Tax Expense Associated with Stock Option and Restricted Stock Awards and Related Tax Benefits Recognized (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options	$188	$232
Restricted stock awards	208	245
Total stock based compensation expense	396	477
Related tax benefits recognized in earnings	$116	$146

Compensation_Cost_Related_to_N

Compensation Cost Related to Non-Vested Awards not Yet Recognized and Weighted Average Recognition Period (Detail) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$4,143	$4,508
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, amount	2,009	2,195
Restricted stock, weighted average period	2 years 9 months 18 days	3 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, amount	$2,134	$2,313
Restricted stock, weighted average period	2 years 8 months 12 days	2 years 10 months 24 days

Summary_of_Financial_Assets_Me

Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	$24,603	$24,415
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	22,197	22,079
Rabbi Trust
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,406	2,336
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	2,406	2,336
Level 1 \| Rabbi Trust
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,406	2,336
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	22,197	22,079
Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	$22,197	$22,079

Loans_Remeasured_and_Reported_

Loans Remeasured and Reported at Fair Value (Detail) (Fair Value, Measurements, Nonrecurring, Level 3, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Measurements, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$1,958	$1,951
Totals	$1,958	$1,951

Assets_Remeasured_and_Reported

Assets Remeasured and Reported at Lower of Cost or Fair Value (Detail) (Level 3, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on a nonrecurring basis	$463	$476
Mortgage Servicing Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on a nonrecurring basis	$463	$476

Fair_Value_Measurements_Detail

Fair Value Measurements (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Cash and cash equivalents	$41,092	$51,767	$56,858	$38,035
Interest-bearing time deposits with other banks	39,091	49,492
Held-to-maturity securities	119,010	118,528
Federal Home Loan Bank stock	15,082	13,712
Loans, net	1,231,068	1,179,399
Accrued interest receivable	3,065	2,977
Deposits	1,042,999	984,562
Federal Home Loan Bank advances	269,100	285,100
Securities sold under agreements to repurchase	1,632	1,392
Other borrowed funds	1,055	1,067
Accrued interest payable	1,078	961
Mortgagors' escrow accounts	7,834	9,707
Cash and cash equivalents	41,092	51,767
Interest-bearing time deposits with other banks	132	132
Held-to-maturity securities	120,876	119,447
Federal Home Loan Bank stock	15,082	13,712
Loans, net	1,226,768	1,170,663
Accrued interest receivable	3,065	2,977
Deposits	1,046,666	987,353
Federal Home Loan Bank advances	269,967	285,266
Securities sold under agreements to repurchase	1,632	1,392
Other borrowed funds	1,065	1,056
Accrued interest payable	1,078	961
Mortgagors' escrow accounts	1,436	1,726
Carrying Amount
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Cash and cash equivalents	41,092	51,767
Interest-bearing time deposits with other banks	131	131
Held-to-maturity securities	119,010	118,528
Federal Home Loan Bank stock	15,082	13,712
Loans, net	1,231,068	1,179,399
Accrued interest receivable	3,065	2,977
Deposits	1,042,999	984,562
Federal Home Loan Bank advances	269,100	285,100
Securities sold under agreements to repurchase	1,632	1,392
Other borrowed funds	1,055	1,067
Accrued interest payable	1,078	961
Mortgagors' escrow accounts	1,436	1,726
Level 1
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Cash and cash equivalents	41,092	51,767
Accrued interest receivable	3,065	2,977
Deposits	790,984	758,349
Accrued interest payable	1,078	961
Level 2
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Interest-bearing time deposits with other banks	132	132
Held-to-maturity securities	120,876	119,447
Federal Home Loan Bank stock	15,082	13,712
Deposits	255,682	229,004
Federal Home Loan Bank advances	269,967	285,266
Securities sold under agreements to repurchase	1,632	1,392
Other borrowed funds	1,065	1,056
Mortgagors' escrow accounts	1,436	1,726
Level 3
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Loans, net	$1,226,768	$1,170,663

Other_Comprehensive_Income_Det

Other Comprehensive Income (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Schedule of Other Comprehensive Income (Loss) [Line Items]
Change in unrealized gain/loss during the period, Pre-Tax Amount	$136	$195
Reclassification adjustment for net realized (gains) losses included in net income, Pre Tax Amount	0	0
Total securities available for sale, Pre-Tax Amount	136	195
Other comprehensive income, Pre Tax Amount	136	195
Change in unrealized gain/loss during the period, Tax (Expense) Benefit	-53	-78
Reclassification adjustment for net realized (gains) losses included in net income, Tax (Expense) Benefit	0	0
Total securities available for sale, Tax (Expense) Benefit	-53	-78
Other comprehensive income, Tax (Expense) Benefit	-53	-78
Change in unrealized gain/loss during the period, After Tax Amount	83	117
Reclassification adjustment for net realized (gains) losses included in net income, After Tax Amount	0	0
Total securities available for sale, After Tax Amount	83	117
Other Comprehensive Income, After Tax Amount	$83	$117

Components_of_Accumulated_Othe

Components of Accumulated Other Comprehensive Loss, Net of Tax (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	($72)	($210)
Other comprehensive income	83	117
Ending balance	11	-93
Beginning Balance	50	22
Other comprehensive income	0	0
Ending balance	50	22
Beginning Balance	-22	-188
Other comprehensive income	83	117
Ending balance	$61	($71)