Wellesley Bancorp 10-Q 10 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	Wellesley Bancorp, Inc.
Entity Central Index Key	1,526,952
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	WEBK
Entity Common Stock, Shares Outstanding		2,462,138

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 2,478	$ 2,816
Short-term investments	13,403	16,455
Total cash and cash equivalents	15,881	19,271
Certificates of deposit	100	100
Securities available for sale, at fair value	50,173	52,681
Federal Home Loan Bank of Boston stock, at cost	5,205	3,660
Loans held for sale	0	537
Loans	507,135	448,084
Less allowance for loan losses	(4,966)	(4,738)
Loans, net	502,169	443,346
Bank-owned life insurance	7,014	6,841
Premises and equipment, net	3,430	3,753
Accrued interest receivable	1,392	1,216
Net deferred tax asset	2,232	2,008
Other assets	1,919	1,702
Total assets	589,515	535,115
Deposits:
Noninterest-bearing	70,055	58,859
Interest-bearing	382,662	363,386
Deposits, Total	452,717	422,245
Short-term borrowings	16,000	2,000
Long-term debt	66,945	59,500
Accrued expenses and other liabilities	2,463	2,024
Total liabilities	$ 538,125	$ 485,769
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 1,000,000 shares authorized, none issued	$ 0	$ 0
Common stock, $0.01 par value; 14,000,000 shares authorized and 2,459,138 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	24	24
Additional paid-in capital	23,881	23,419
Retained earnings	28,562	27,027
Accumulated other comprehensive income	367	417
Unearned compensation - ESOP	(1,444)	(1,541)
Total stockholders’ equity	51,390	49,346
Total liabilities and stockholders’ equity	$ 589,515	$ 535,115

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	14,000,000	14,000,000
Common Stock, Shares, Issued	2,459,138	2,459,138
Common Stock, Shares, Outstanding	2,459,138	2,459,138

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest and dividend income:
Interest and fees on loans and loans held for sale	$ 5,342	$ 4,724	$ 15,160	$ 13,696
Debt securities:
Taxable	204	201	685	532
Tax-exempt	50	49	143	139
Interest on short-term investments and certificates of deposit	8	8	24	24
Dividends on FHLB stock	36	12	68	35
Total interest and dividend income	5,640	4,994	16,080	14,426
Interest expense:
Deposits	722	703	2,007	2,066
Short-term borrowings	24	2	45	8
Long-term debt	223	173	583	451
Total interest expense	969	878	2,635	2,525
Net interest income	4,671	4,116	13,445	11,901
Provision for loan losses	150	180	300	580
Net interest income, after provision for loan losses	4,521	3,936	13,145	11,321
Noninterest income:
Customer service fees	29	31	92	102
Mortgage banking activities	34	32	133	71
Gain on sale of securities, net	28	0	28	16
Income on bank-owned life insurance	58	58	173	175
Wealth management fees	130	117	339	353
Miscellaneous	11	6	31	13
Total noninterest income	290	244	796	730
Noninterest expense:
Salaries and employee benefits	2,145	2,017	6,634	5,881
Occupancy and equipment	640	530	1,843	1,513
Data processing	162	155	480	456
FDIC insurance	93	73	279	208
Professional fees	182	138	556	566
Other general and administrative	454	412	1,317	1,210
Total noninterest expense	3,676	3,325	11,109	9,834
Income before income taxes	1,135	855	2,832	2,217
Provision for income taxes	435	339	1,088	876
Net income	700	516	1,744	1,341
Other comprehensive income (loss):
Net unrealized holding (losses) gains on available-for-sale securities	197	(83)	(51)	249
Reclassification adjustment for gains on sales of Securities, net recognized in noninterest income	(28)	0	(28)	(16)
Income tax benefit (expense)	(65)	33	29	(91)
Total other comprehensive (loss) income	104	(50)	(50)	142
Comprehensive income	$ 804	$ 466	$ 1,694	$ 1,483
Earnings per common share:
Basic (in dollars per share)	$ 0.30	$ 0.23	$ 0.76	$ 0.59
Diluted (in dollars per share)	$ 0.30	$ 0.22	$ 0.75	$ 0.58
Weighted average shares outstanding:
Basic (in shares)	2,313,103	2,291,824	2,309,894	2,290,510
Diluted (in shares)	2,334,529	2,301,067	2,326,123	2,295,322

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Unearned Compensation ESOP [Member]
Balance at Dec. 31, 2013	$ 46,789	$ 24	$ 22,845	$ 25,423	$ 166	$ (1,669)
Balance (in shares) at Dec. 31, 2013		2,454,465
Comprehensive income	1,483	$ 0	0	1,341	142	0
Dividends paid to common stockholders	(123)	0	0	(123)	0	0
Share-based compensation- equity incentive plan	351	0	351	0	0	0
Issuance of stock under stock option plan	6	$ 0	6	0	0	0
Issuance of stock under stock option plan (in shares)		400
Restricted stock forfeitures		(7,063)
ESOP shares committed to be allocated (9,629)	180	$ 0	84	0	0	96
Balance at Sep. 30, 2014	48,686	$ 24	23,286	26,641	308	(1,573)
Balance (in shares) at Sep. 30, 2014		2,447,802
Balance at Dec. 31, 2014	49,346	$ 24	23,419	27,027	417	(1,541)
Balance (in shares) at Dec. 31, 2014		2,459,138
Comprehensive income	1,694	$ 0	0	1,744	(50)	0
Dividends paid to common stockholders	(209)	0	0	(209)	0	0
Share-based compensation- equity incentive plan	372	0	372	0	0	0
Tax effect of dividends on unvested restricted stock	2	0	2	0	0	0
ESOP shares committed to be allocated (9,629)	185	0	88	0	0	97
Balance at Sep. 30, 2015	$ 51,390	$ 24	$ 23,881	$ 28,562	$ 367	$ (1,444)
Balance (in shares) at Sep. 30, 2015		2,459,138

CONSOLIDATED STATEMENTS OF CHA6

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Parenthetical] - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Dividends paid to common stockholders, per share	$ 0.085	$ 0.05
ESOP shares committed to be allocated, Shares	9,629	9,629

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 1,744	$ 1,341
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	300	580
Depreciation and amortization	488	443
Net amortization of securities	194	108
Gain on sale of securities, net	(28)	(16)
Principal amount of loans sold	18,874	13,323
Loans originated for sale	(18,471)	(13,513)
Accretion of net deferred loan fees	(278)	(335)
Income on bank-owned life insurance	(173)	(175)
Deferred income tax benefit	(195)	(346)
ESOP expense	185	180
Share-based compensation	372	351
Net change in other assets and liabilities	50	541
Net cash provided by operating activities	3,062	2,482
Activity in securities available for sale:
Maturities, prepayments and calls	16,229	8,118
Purchases	(15,827)	(14,441)
Proceeds from sales of securities, net	1,861	903
Purchase of Federal Home Loan Bank stock	(1,545)	(484)
Loan originations, net of principal payments	(58,711)	(48,634)
Additions to premises and equipment	(169)	(288)
Net cash used by investing activities	(58,162)	(54,826)
Cash flows from financing activities:
Net increase in deposits	30,472	31,888
Proceeds from long-term debt	15,500	26,000
Repayments of long-term debt	(8,055)	(6,000)
Increase(decrease) in short-term borrowings	14,000	(7,000)
Proceeds from issuance of stock under stock option plan	0	6
Tax effect of dividends on unvested restricted stock	2	0
Cash dividends paid on common stock	(209)	(123)
Net cash provided by financing activities	51,710	44,771
Net change in cash and cash equivalents	(3,390)	(7,573)
Cash and cash equivalents at beginning period	19,271	19,067
Cash and cash equivalents at end of period	15,881	11,494
Supplementary information:
Interest paid	2,615	2,516
Income taxes paid	$ 943	$ 853

BASIS OF PRESENTATION AND CONSO

BASIS OF PRESENTATION AND CONSOLIDATION	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	NOTE 1 – BASIS OF PRESENTATION AND CONSOLIDATION The accompanying unaudited interim consolidated financial statements include the accounts of Wellesley Bancorp, Inc. (the “Company”) and its wholly-owned subsidiary, Wellesley Bank (the “Bank”), the principal operating entity, and its wholly-owned subsidiaries; Wellesley Securities Corporation, which engages in the business of buying, selling and dealing in securities exclusively on its own behalf; Wellesley Investment Partners, LLC, formed to provide investment management services for individuals, not-for-profit entities and businesses; and Central Linden, LLC, formed to hold, manage and sell foreclosed real estate. All significant intercompany balances and transactions have been eliminated in consolidation. These financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information, and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. The accompanying consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s 2014 Annual Report on Form 10-K. The results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or for any other period.

LOAN POLICIES

LOAN POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Loan Portfolio [Text Block]	NOTE 2 – The loan portfolio consists of real estate, commercial and other loans to the Company’s customers in our primary market areas in eastern Massachusetts. The ability of the Company’s debtors to honor their contracts is dependent upon the economy in general and the real estate and construction sectors within our markets. Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for loan losses, and any deferred loan origination fees or costs. 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. Interest is generally not accrued on loans which are identified as impaired or loans which are ninety days or more past due. Past due status is based on the contractual terms of the loan. Interest income previously accrued on such loans is reversed against current period interest income. Interest income on non-accrual loans is recognized only to the extent of interest payments received and is first applied to the outstanding principal balance when collectibility of principal is in doubt. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured through sustained payment performance for at least six months. 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. Allowance for loan losses The allowance for loan losses is established through a provision for loan losses charged to earnings as losses are estimated to have occurred. Loan losses are charged against the allowance when management believes the uncollectibility of the 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. General component The general component is based on the following loan segments: residential real estate, commercial real estate, construction, commercial, home equity lines of credit and other consumer. Management considers a rolling average of historical losses for each segment based on a time frame appropriate to capture relevant loss data for each loan segment, generally 3 10 The qualitative factor adjustments 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 – The Company generally does not originate loans with a loan-to-value ratio greater than 80 Commercial real estate – Loans in this segment are primarily income-producing properties in the Company’s primary market areas in eastern Massachusetts. Underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management typically obtains rent rolls annually and continually monitors the cash flows of these loans. Construction – Loans in this segment primarily include speculative construction loans primarily on residential properties for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Residential construction loans in this segment also include loans to build one-to-four family owner-occupied properties which are subject to the same credit quality factors as residential real estate. Commercial – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, will have an effect on the credit quality in this segment. Home equity lines of credit – Loans in this segment are collateralized by one-to-four family residential real estate and repayment is dependent on the credit quality of the individual borrower. The Company generally does not hold a first mortgage position on homes that secure home equity lines of credit. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Other consumer – Loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower. Allocated component The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate or, if the loan is collateral dependent, by the fair value of the collateral, less estimated costs to sell. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan are lower than the carrying value of that loan. Large groups of smaller-balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify performing individual residential and consumer loans for impairment disclosures, unless such loans are subject to a TDR agreement. 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. Unallocated component An unallocated component is maintained to cover additional uncertainties in management’s estimation 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.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	NOTE 3 – COMPREHENSIVE INCOME Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the stockholders’ equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income/loss. September 30, December 31, 2015 2014 (In thousands) Unrealized holding gains on securities available for sale $ 593 $ 672 Tax effect (226) (255) Net-of tax amount $ 367 $ 417

RECENT ACCOUNTING AND REGULATOR

RECENT ACCOUNTING AND REGULATORY PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 4 – RECENT ACCOUNTING AND REGULATORY PRONOUNCEMENTS In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

SECURITIES AVAILABLE FOR SALE

SECURITIES AVAILABLE FOR SALE	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 5 – SECURITIES AVAILABLE FOR SALE September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 4,737 $ 100 $ (9) $ 4,828 Government-sponsored enterprises 10,353 260 (19) 10,594 SBA and other asset-backed securities 11,806 213 (65) 11,954 State and municipal bonds 6,970 146 (14) 7,102 Government-sponsored enterprise obligations 1,999 — (21) 1,978 Corporate bonds 13,715 49 (47) 13,717 $ 49,580 $ 768 $ (175) $ 50,173 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 5,812 $ 167 $ (4) $ 5,975 Government-sponsored enterprises 10,806 233 (38) 11,001 SBA and other asset-backed securities 12,761 171 (35) 12,897 State and municipal bonds 5,706 171 (6) 5,871 Government-sponsored enterprise obligations 6,500 6 (10) 6,496 Corporate bonds 10,424 42 (25) 10,441 $ 52,009 $ 790 $ (118) $ 52,681 Amortized Fair Cost Value (In thousands) Within 1 year $ 3,615 $ 3,625 After 1 year to 5 years 8,932 8,953 After 5 years to 10 years 8,115 8,143 After 10 years 2,022 2,076 22,684 22,797 Mortgage- and asset-backed securities 26,896 27,376 $ 49,580 $ 50,173 For the three and nine months ended September 30, 2015, proceeds from sales of available-for-sale securities amounted to $ 1.9 37 9 903 20 4 Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) September 30, 2015 Residential mortgage-backed securities: Government National Mortgage Association $ — $ — $ (9) $ 862 Government-sponsored enterprises — — (19) 726 SBA and other asset-backed securities (54) 2,638 (11) 774 State and municipal bonds (13) 1,851 (1) 100 Government-sponsored enterprise obligations (21) 1,229 — — Corporate bonds (38) 4,046 (9) 988 $ (126) $ 9,763 $ (49) $ 3,450 December 31, 2014 Residential mortgage-backed securities: Government National Mortgage Association $ (4) $ 867 $ — $ — Government-sponsored enterprises (4) 508 (34) 805 SBA and other asset-backed securities (4) 1,009 (31) 1,297 State and municipal bonds (1) 101 (5) 546 Government-sponsored enterprise obligations (10) 3,490 — — Corporate bonds (25) 6,719 — — $ (48) $ 12,694 $ (70) $ 2,648 Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluations. At September 30, 2015, various debt securities have unrealized losses with aggregate depreciation of 1.2

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2015
Notes and Loans Payable, Current [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 6 – LOANS AND ALLOWANCE FOR LOAN LOSSES September 30, December 31, 2015 2014 (In thousands) Real estate loans: Residential – fixed $ 17,256 $ 20,651 Residential – variable 246,974 212,621 Commercial 106,034 94,699 Construction 83,148 72,668 453,412 400,639 Commercial loans: Secured 21,829 18,991 Unsecured 43 62 21,872 19,053 Consumer loans: Home equity lines of credit 31,475 28,153 Other 263 292 31,738 28,445 Total loans 507,022 448,137 Less: Allowance for loan losses (4,966) (4,738) Net deferred origination costs (fees) 113 (53) Loans, net $ 502,169 $ 443,346 Residential Commercial Home Other Real Estate Real Estate Construction Commercial Equity Consumer Unallocated Total (In thousands) Three Months Ended September 30, 2015 Allowance at June 30, 2015 $ 1,557 $ 1,074 $ 1,295 $ 461 $ 223 $ 4 $ 202 $ 4,816 Provision (credit) for loan losses (29) (37) 188 9 (3) (1) 23 150 Loans charged off — — — — — — — — Allowance at September 30, 2015 $ 1,528 $ 1,037 $ 1,483 $ 470 $ 220 $ 3 $ 225 $ 4,966 Three Months Ended September 30, 2014 Allowance at June 30, 2014 $ 1,495 $ 1,001 $ 1,443 $ 351 $ 306 $ 4 $ 13 $ 4,613 Provision (credit) for loan losses 147 (63) (39) 80 13 — 42 180 Loans charged off — — — (2) (109) — — (111) Allowance at September 30, 2014 $ 1,642 $ 938 $ 1,404 $ 429 $ 210 $ 4 $ 55 $ 4,682 Nine Months Ended September 30, 2015 Allowance at December 31, 2014 $ 1,710 $ 1,056 $ 1,273 $ 428 $ 224 $ 4 $ 43 $ 4,738 Provision (credit) for loan losses (165) 36 210 42 (4) (1) 182 300 Loans charged off (17) (55) — — — — — (72) Allowance at September 30, 2015 $ 1,528 $ 1,037 $ 1,483 $ 470 $ 220 $ 3 $ 225 $ 4,966 Nine Months Ended September 30, 2014 Allowance at December 31, 2013 $ 1,351 $ 887 $ 1,305 $ 426 $ 213 $ 7 $ 24 $ 4,213 Provision (credit) for loan losses 291 51 99 5 106 (3) 31 580 Loans charged off — — — (2) (109) — — (111) Allowance at September 30, 2014 $ 1,642 $ 938 $ 1,404 $ 429 $ 210 $ 4 $ 55 $ 4,682 Residential Commercial Construction Commercial Home Other Unallocated Total (In thousands) September 30, 2015 Allowance related to impaired loans $ — $ — $ — $ — $ — $ — $ — $ — Allowance related to non-impaired loans 1,528 1,037 1,483 470 220 3 225 4,966 Total allowance $ 1,528 $ 1,037 $ 1,483 $ 470 $ 220 $ 3 $ 225 $ 4,966 Impaired loan balances $ 1,599 $ 2,355 $ — $ 16 $ 34 $ — $ — $ 4,004 Non-impaired loan balances 262,631 103,679 83,148 21,856 31,441 263 — 503,018 Total loans $ 264,230 $ 106,034 $ 83,148 $ 21,872 $ 31,475 $ 263 $ — $ 507,022 December 31, 2014 Allowance related to impaired loans $ — $ 51 $ — $ — $ — $ — $ — $ 51 Allowance related to non-impaired loans 1,710 1,005 1,273 428 224 4 43 4,687 Total allowance $ 1,710 $ 1,056 $ 1,273 $ 428 $ 224 $ 4 $ 43 $ 4,738 Impaired loan balances $ 1,521 $ 3,356 $ — $ 22 $ 146 $ — $ — $ 5,045 Non-impaired loan balances 231,751 91,343 72,668 19,031 28,007 292 — 443,092 Total loans $ 233,272 $ 94,699 $ 72,668 $ 19,053 $ 28,153 $ 292 $ — $ 448,137 The following is a summary of past due and non-accrual loans at September 30, 2015 and December 31, 2014: 30-59 60-89 Days Past Due 90 Total Past Due 90 Non- (In thousands) September 30, 2015 Residential real estate $ 1,095 $ — $ 216 $ 1,311 $ — $ 1,412 Commercial real estate — — 660 660 — 2,355 Commercial 16 — — 16 — 16 Home equity lines of credit — — — — — 34 Total $ 1,111 $ — $ 876 $ 1,987 $ — $ 3,817 December 31, 2014 Residential real estate $ — $ — $ — $ — $ — $ 1,313 Commercial real estate 832 — 759 1,591 — 3,356 Commercial — — — — — 22 Home equity lines of credit — — — — — 146 Total $ 832 $ — $ 759 $ 1,591 $ — $ 4,837 September 30, 2015 December 31, 2014 Recorded Unpaid Related Recorded Unpaid Related (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 1,599 $ 1,599 $ — $ 1,521 $ 1,521 $ — Commercial real estate 2,355 2,355 — 2,597 2,597 — Commercial 16 16 — 22 22 — Home equity lines of credit 34 34 — 146 146 — Total 4,004 4,004 — 4,286 4,286 — Impaired loans with a valuation allowance: Commercial real estate — — — 759 759 51 Total impaired loans $ 4,004 $ 4,004 $ — $ 5,045 $ 5,045 $ 51 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Average Interest Interest Average Interest Interest (In thousands) Residential real estate $ 1,214 $ 14 $ 11 $ 1,235 $ 52 $ 48 Commercial real estate 2,979 51 28 3,149 141 103 Commercial 16 — — 18 1 1 Home equity lines of credit 118 1 1 135 3 3 Total $ 4,327 $ 66 $ 40 $ 4,537 $ 197 $ 155 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Average Interest Interest Average Interest Interest (In thousands) Residential real estate $ 410 $ 4 $ 4 $ 421 $ 8 $ 13 Commercial real estate 2,581 38 27 4,498 77 54 Commercial 26 — — 29 1 1 Home equity lines of credit 427 4 — 427 8 — Total $ 3,444 $ 46 $ 31 $ 5,375 $ 94 $ 68 No additional funds are committed to be advanced in connection with impaired loans. TDRs, which are included in impaired loans, 403 220 216 220 There were no TDRs recorded during the three and nine months ended September 30, 2015 and 2014. There were no TDRs that defaulted during the three and nine months ended September 30, 2015 and 2014, and for which default was within one year of the restructure date. Credit Quality Information The Company utilizes an eleven-grade internal loan rating system for commercial real estate, construction and commercial loans. Loans rated 1-4: Loans in these categories are considered “pass” rated loans with low to average risk. Loans rated 5: 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 6: 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 7: 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 8: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted. Loans rated 9: Loans in this category only include commercial loans under $ 25 Loans rated 10: Loans in this category include loans which otherwise require rating but which have not been rated, or loans for which the Company’s loan policy does not require rating. Loans rated 11: Loans in this category include credit commitments/relationships that cannot be rated due to a lack of financial information or inaccurate financial information. If, within 60 On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate, construction and commercial loans. During each calendar year, 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 monthly basis, the Company reviews the residential real estate and consumer loan portfolio for credit quality primarily through the use of delinquency reports. September 30, 2015 December 31, 2014 Commercial Commercial Real Estate Construction Commercial Total Real Estate Construction Commercial Total (In thousands) Loans rated 1-4 $ 97,797 $ 83,148 $ 20,686 $ 201,631 $ 85,496 $ 72,668 $ 17,802 $ 175,966 Loans rated 5 6,062 — 990 7,052 6,054 — 1,022 7,076 Loans rated 6 1,515 — 196 1,711 2,390 — 229 2,619 Loans rated 7 660 — — 660 759 — — 759 Total $ 106,034 $ 83,148 $ 21,872 $ 211,054 $ 94,699 $ 72,668 $ 19,053 $ 186,420

FAIR VALUES OF FINANCIAL INSTRU

FAIR VALUES OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Financial Liabilities Fair Value Disclosure [Abstract]
Financial Instruments Disclosure [Text Block]	NOTE 7 – FAIR VALUES OF FINANCIAL INSTRUMENTS Fair value hierarchy The Company groups its assets and liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 – Valuation is based on quoted market prices in active exchange markets for identical assets and liabilities. Valuations are obtained from readily available pricing sources. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities. Valuations are obtained from readily available pricing sources. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 includes assets and liabilities whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Transfers between levels are recognized at the end of a reporting period, if applicable. Determination of fair value The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The following methods and assumptions were used by the Company in estimating fair value disclosures: Cash, cash equivalents and certificates of deposit : The carrying amounts approximate fair values based on the short-term nature of the assets. Securities available for sale : Fair value measurements are obtained from a third-party pricing service and are not adjusted by management. All securities are measured at fair value in Level 2 are based on pricing models that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, credit spreads and new issue data. Federal Home Loan Bank (“FHLB”) stock : The carrying value of FHLB stock is deemed to approximate fair value based on the redemption provisions of the FHLB of Boston. Loans held for sale : Fair values are based on commitments in effect from investors or prevailing market prices. Loans, net : For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for other loans are estimated using discounted cash flow analyses, using market interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for impaired loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. Deposits : The fair values disclosed for non-certificate deposit accounts are, by definition, equal to the amount payable on demand at the reporting date ( i.e. Short-term borrowings : The carrying amount of short-term borrowings approximates fair value, based on the short-term nature of the liabilities. Long-term debt : The fair values of long-term debt are estimated using discounted cash flow analyses based on the current incremental borrowing rates in the market for similar types of borrowing arrangements. Accrued interest : The carrying amounts of accrued interest approximate fair value. Forward loan sale commitments and derivative loan commitments : The fair value of forward loan sale commitments and derivative loan commitments are based on fair values of the underlying mortgage loans, including servicing values as applicable. The fair value of derivative loan commitments also considers the probability of such commitments being exercised. Off-balance sheet instruments : Fair values for off-balance-sheet lending commitments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair values of these instruments are considered immaterial. Assets and liabilities measured at fair value on a recurring basis September 30, 2015 Total Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available for sale $ — $ 50,173 $ — $ 50,173 Liabilities Forward loan sale commitments $ — $ 8 $ — $ 8 December 31, 2014 Total Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available for sale $ — $ 52,681 $ — $ 52,681 Forward loan sale commitments — 8 — 8 Total assets $ — $ 52,689 $ — $ 52,689 Liabilities Derivative loan commitments $ — $ 5 $ — $ 5 Assets measured at fair value on a non-recurring basis The Company may also be required, from time to time, to measure certain other financial assets and liabilities at fair value on a non-recurring basis in accordance with generally accepted accounting principles. These adjustments to fair value usually result from application of lower-of-cost-or-market (“LOCOM”) The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related individual assets as of December 31, 2014. There were no assets measured at fair value on a non-recurring basis as September 30, 2015. September 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (In thousands) Loans held for sale $ — $ — $ — $ — $ — $ 537 Impaired loans — — — — — 708 $ — $ — $ - $ — $ — $ 1,245 The following table presents the total gains (losses) on loans held for sale and impaired loans recorded at fair value for the three and nine months ended September 30, 2015 and 2014. Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In thousands) Loans held for sale $ 25 $ 5 $ 2 $ 6 Impaired loans — 111 51 (70) $ 25 $ 116 $ 53 $ (64) Loans held for sale (“LHFS”) are evaluated for losses associated with the application of LOCOM accounting. A rise in market interest rates above contractual loan rates from the time LHFS were recorded is reflected as a reduction in the carrying value of the asset and a loss is recognized in current period earnings. There are no liabilities measured at fair value on a non-recurring basis at September 30, 2015 and December 31, 2014. Summary of fair values of financial instruments Fair Value Carrying Amount Level 1 Level 2 Level 3 Total (In thousands) September 30, 2015 Financial assets: Cash and cash equivalents $ 15,881 $ 15,881 $ — $ — $ 15,881 Certificates of deposit 100 100 — — 100 Securities available for sale 50,173 — 50,173 — 50,173 FHLB stock 5,205 — — 5,205 5,205 Loans, net 502,169 — — 496,806 496,806 Accrued interest receivable 1,392 — — 1,392 1,392 Financial liabilities: Deposits $ 452,717 $ — $ — $ 453,129 $ 453,129 Short-term borrowings 16,000 — 16,000 — 16,000 Long-term debt 66,945 — 67,151 — 67,151 Accrued interest payable 80 — — 80 80 Forward loan sale commitments 8 — 8 — 8 December 31, 2014 Financial assets: Cash and cash equivalents $ 19,271 $ 19,271 $ — $ — $ 19,271 Certificates of deposit 100 100 — — 100 Securities available for sale 52,681 — 52,681 — 52,681 FHLB stock 3,660 — — 3,660 3,660 Loans held for sale 537 — 537 — 537 Loans, net 443,346 — — 441,720 441,720 Accrued interest receivable 1,216 — — 1,216 1,216 Forward loan sale commitments 8 — 8 — 8 Financial liabilities: Deposits $ 422,245 $ — $ — $ 422,731 $ 422,731 Short-term borrowings 2,000 — 2,000 — 2,000 Long-term debt 59,500 — 59,504 — 59,504 Accrued interest payable 61 — — 61 61 Derivative loan commitments 5 — 5 — 5

EMPLOYEE STOCK OWNERSHIP PLAN

EMPLOYEE STOCK OWNERSHIP PLAN	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation and Employee Benefit Plans [Text Block]	NOTE 8 – EMPLOYEE STOCK OWNERSHIP PLAN The Bank maintains an Employee Stock Ownership Plan (the “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 limits. The Company granted a loan to the ESOP to purchase shares of the Company’s common stock on the closing date of the Company’s mutual to stock conversion in 2012. As of September 30, 2015, the ESOP held 188,324 7.66 15 3.25 Shares held by the ESOP at September 30, 2015 include the following: Allocated 33,265 Committed to be allocated 9,629 Unallocated 145,430 188,324 The fair value of unallocated shares was approximately $ 2.8 Total compensation expense recognized in connection with the ESOP for the three and nine months ended September 30, 2015 was $ 63 185

EQUITY INCENTIVE PLAN

EQUITY INCENTIVE PLAN	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 9 – EQUITY INCENTIVE PLAN Under the Company’s 2012 Equity Incentive Plan (the “Equity Incentive Plan”), the Company may grant stock options to its employees and directors in the form of incentive stock options and non-qualified stock options for up to 240,751 20 A restricted stock award (the “award”) is a grant of shares of Company common stock for no consideration, subject to a vesting schedule or the satisfaction of market conditions or performance criteria. Under the Equity Incentive Plan, the Company may also grant stock awards to management, employees and directors for up to 96,286 Stock Options Weighted Average Weighted Remaining Number of Average Contractual Aggregate Options Shares Exercise Price Term Intrinsic Value (In thousands) (In years) (In thousands) Outstanding at beginning of period 214 $ 15.84 8.02 $ 707 Forfeited (1) 17.45 — Outstanding at end of period 213 $ 15.84 7.27 $ 706 Options exercisable at end of period 76 $ 15.38 7.02 $ 287 For the three months ended September 30, 2015 and 2014, share based compensation expense applicable to the stock options was $ 51 48 10 For each of the nine months ended September 30, 2015 and 2014, share based compensation expense applicable to the stock options was $ 149 28 Unrecognized compensation expense for non-vested stock options totaled $ 513 2.3 Stock Awards There was no activity in non-vested restricted stock awards under the Equity Incentive Plan for the nine months ended September 30, 2015. For the three months ended September 30, 2015 and 2014, compensation expense applicable to the stock awards was $ 71 64 28 26 For the nine months ended September 30, 2015 and 2014, compensation expense applicable to the stock awards was $ 223 202 89 80 Unrecognized compensation expense for non-vested restricted stock totaled $ 660 2.4

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 10 – EARNINGS PER COMMON SHARE Basic earnings per share represents income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. Under the Company’s Equity Incentive Plan, stock awards contain non-forfeitable dividend rights. Accordingly, these shares are considered outstanding for computation of basic earnings per share. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock awards and are determined using the treasury stock method. Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In thousands, except per share amounts) Net income applicable to common stock $ 700 $ 516 $ 1,744 $ 1,341 Average number of common shares issued 2,459 2,451 2,459 2,452 Less: Average unallocated ESOP shares (146) (159) (149) (162) Average number of common shares outstanding used to calculate basic earnings per common share 2,313 2,292 2,310 2,290 Effect of dilutive stock options 22 9 16 5 Average number of common shares outstanding used to calculate diluted earnings per share 2,335 2,301 2,326 2,295 Earnings per common share: Basic $ 0.30 $ 0.23 $ 0.76 $ 0.59 Diluted $ 0.30 $ 0.22 $ 0.75 $ 0.58 Options for 31,400 10,500

DIVIDENDS DECLARED

DIVIDENDS DECLARED	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Dividend Disclosure [Text Block]	NOTE 11 – DIVIDENDS DECLARED On August 19, 2015, the Company announced that its Board of Directors declared a quarterly cash dividend of $ 0.03 , 2015, and paid on September 16,

LOAN POLICIES (Policies)

LOAN POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	LOAN POLICIES The loan portfolio consists of real estate, commercial and other loans to the Company’s customers in our primary market areas in eastern Massachusetts. The ability of the Company’s debtors to honor their contracts is dependent upon the economy in general and the real estate and construction sectors within our markets. Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for loan losses, and any deferred loan origination fees or costs. 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. Interest is generally not accrued on loans which are identified as impaired or loans which are ninety days or more past due. Past due status is based on the contractual terms of the loan. Interest income previously accrued on such loans is reversed against current period interest income. Interest income on non-accrual loans is recognized only to the extent of interest payments received and is first applied to the outstanding principal balance when collectibility of principal is in doubt. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured through sustained payment performance for at least six months. 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. Allowance for loan losses The allowance for loan losses is established through a provision for loan losses charged to earnings as losses are estimated to have occurred. Loan losses are charged against the allowance when management believes the uncollectibility of the 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. General component The general component is based on the following loan segments: residential real estate, commercial real estate, construction, commercial, home equity lines of credit and other consumer. Management considers a rolling average of historical losses for each segment based on a time frame appropriate to capture relevant loss data for each loan segment, generally 3 10 The qualitative factor adjustments 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 – The Company generally does not originate loans with a loan-to-value ratio greater than 80 Commercial real estate – Loans in this segment are primarily income-producing properties in the Company’s primary market areas in eastern Massachusetts. Underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management typically obtains rent rolls annually and continually monitors the cash flows of these loans. Construction – Loans in this segment primarily include speculative construction loans primarily on residential properties for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Residential construction loans in this segment also include loans to build one-to-four family owner-occupied properties which are subject to the same credit quality factors as residential real estate. Commercial – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, will have an effect on the credit quality in this segment. Home equity lines of credit – Loans in this segment are collateralized by one-to-four family residential real estate and repayment is dependent on the credit quality of the individual borrower. The Company generally does not hold a first mortgage position on homes that secure home equity lines of credit. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Other consumer – Loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower. Allocated component The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate or, if the loan is collateral dependent, by the fair value of the collateral, less estimated costs to sell. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan are lower than the carrying value of that loan. Large groups of smaller-balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify performing individual residential and consumer loans for impairment disclosures, unless such loans are subject to a TDR agreement. 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. Unallocated component An unallocated component is maintained to cover additional uncertainties in management’s estimation 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.

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive income and related tax effects are as follows: September 30, December 31, 2015 2014 (In thousands) Unrealized holding gains on securities available for sale $ 593 $ 672 Tax effect (226) (255) Net-of tax amount $ 367 $ 417

SECURITIES AVAILABLE FOR SALE (

SECURITIES AVAILABLE FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities [Table Text Block]	The amortized cost and fair value of securities available for sale, with gross unrealized gains and losses, follows: September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 4,737 $ 100 $ (9) $ 4,828 Government-sponsored enterprises 10,353 260 (19) 10,594 SBA and other asset-backed securities 11,806 213 (65) 11,954 State and municipal bonds 6,970 146 (14) 7,102 Government-sponsored enterprise obligations 1,999 — (21) 1,978 Corporate bonds 13,715 49 (47) 13,717 $ 49,580 $ 768 $ (175) $ 50,173 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 5,812 $ 167 $ (4) $ 5,975 Government-sponsored enterprises 10,806 233 (38) 11,001 SBA and other asset-backed securities 12,761 171 (35) 12,897 State and municipal bonds 5,706 171 (6) 5,871 Government-sponsored enterprise obligations 6,500 6 (10) 6,496 Corporate bonds 10,424 42 (25) 10,441 $ 52,009 $ 790 $ (118) $ 52,681
Investments Classified by Contractual Maturity Date [Table Text Block]	Amortized Fair Cost Value (In thousands) Within 1 year $ 3,615 $ 3,625 After 1 year to 5 years 8,932 8,953 After 5 years to 10 years 8,115 8,143 After 10 years 2,022 2,076 22,684 22,797 Mortgage- and asset-backed securities 26,896 27,376 $ 49,580 $ 50,173
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	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: Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) September 30, 2015 Residential mortgage-backed securities: Government National Mortgage Association $ — $ — $ (9) $ 862 Government-sponsored enterprises — — (19) 726 SBA and other asset-backed securities (54) 2,638 (11) 774 State and municipal bonds (13) 1,851 (1) 100 Government-sponsored enterprise obligations (21) 1,229 — — Corporate bonds (38) 4,046 (9) 988 $ (126) $ 9,763 $ (49) $ 3,450 December 31, 2014 Residential mortgage-backed securities: Government National Mortgage Association $ (4) $ 867 $ — $ — Government-sponsored enterprises (4) 508 (34) 805 SBA and other asset-backed securities (4) 1,009 (31) 1,297 State and municipal bonds (1) 101 (5) 546 Government-sponsored enterprise obligations (10) 3,490 — — Corporate bonds (25) 6,719 — — $ (48) $ 12,694 $ (70) $ 2,648

LOANS AND ALLOWANCE FOR LOAN 22

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2015
Notes and Loans Payable, Current [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	A summary of the balances of loans is as follows: September 30, December 31, 2015 2014 (In thousands) Real estate loans: Residential – fixed $ 17,256 $ 20,651 Residential – variable 246,974 212,621 Commercial 106,034 94,699 Construction 83,148 72,668 453,412 400,639 Commercial loans: Secured 21,829 18,991 Unsecured 43 62 21,872 19,053 Consumer loans: Home equity lines of credit 31,475 28,153 Other 263 292 31,738 28,445 Total loans 507,022 448,137 Less: Allowance for loan losses (4,966) (4,738) Net deferred origination costs (fees) 113 (53) Loans, net $ 502,169 $ 443,346
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block]	The following table summarizes the changes in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2015 and 2014: Residential Commercial Home Other Real Estate Real Estate Construction Commercial Equity Consumer Unallocated Total (In thousands) Three Months Ended September 30, 2015 Allowance at June 30, 2015 $ 1,557 $ 1,074 $ 1,295 $ 461 $ 223 $ 4 $ 202 $ 4,816 Provision (credit) for loan losses (29) (37) 188 9 (3) (1) 23 150 Loans charged off — — — — — — — — Allowance at September 30, 2015 $ 1,528 $ 1,037 $ 1,483 $ 470 $ 220 $ 3 $ 225 $ 4,966 Three Months Ended September 30, 2014 Allowance at June 30, 2014 $ 1,495 $ 1,001 $ 1,443 $ 351 $ 306 $ 4 $ 13 $ 4,613 Provision (credit) for loan losses 147 (63) (39) 80 13 — 42 180 Loans charged off — — — (2) (109) — — (111) Allowance at September 30, 2014 $ 1,642 $ 938 $ 1,404 $ 429 $ 210 $ 4 $ 55 $ 4,682 Nine Months Ended September 30, 2015 Allowance at December 31, 2014 $ 1,710 $ 1,056 $ 1,273 $ 428 $ 224 $ 4 $ 43 $ 4,738 Provision (credit) for loan losses (165) 36 210 42 (4) (1) 182 300 Loans charged off (17) (55) — — — — — (72) Allowance at September 30, 2015 $ 1,528 $ 1,037 $ 1,483 $ 470 $ 220 $ 3 $ 225 $ 4,966 Nine Months Ended September 30, 2014 Allowance at December 31, 2013 $ 1,351 $ 887 $ 1,305 $ 426 $ 213 $ 7 $ 24 $ 4,213 Provision (credit) for loan losses 291 51 99 5 106 (3) 31 580 Loans charged off — — — (2) (109) — — (111) Allowance at September 30, 2014 $ 1,642 $ 938 $ 1,404 $ 429 $ 210 $ 4 $ 55 $ 4,682
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Additional information pertaining to the allowance for loan losses at September 30, 2015 and December 31, 2014 is as follows: Residential Commercial Construction Commercial Home Other Unallocated Total (In thousands) September 30, 2015 Allowance related to impaired loans $ — $ — $ — $ — $ — $ — $ — $ — Allowance related to non-impaired loans 1,528 1,037 1,483 470 220 3 225 4,966 Total allowance $ 1,528 $ 1,037 $ 1,483 $ 470 $ 220 $ 3 $ 225 $ 4,966 Impaired loan balances $ 1,599 $ 2,355 $ — $ 16 $ 34 $ — $ — $ 4,004 Non-impaired loan balances 262,631 103,679 83,148 21,856 31,441 263 — 503,018 Total loans $ 264,230 $ 106,034 $ 83,148 $ 21,872 $ 31,475 $ 263 $ — $ 507,022 December 31, 2014 Allowance related to impaired loans $ — $ 51 $ — $ — $ — $ — $ — $ 51 Allowance related to non-impaired loans 1,710 1,005 1,273 428 224 4 43 4,687 Total allowance $ 1,710 $ 1,056 $ 1,273 $ 428 $ 224 $ 4 $ 43 $ 4,738 Impaired loan balances $ 1,521 $ 3,356 $ — $ 22 $ 146 $ — $ — $ 5,045 Non-impaired loan balances 231,751 91,343 72,668 19,031 28,007 292 — 443,092 Total loans $ 233,272 $ 94,699 $ 72,668 $ 19,053 $ 28,153 $ 292 $ — $ 448,137
Past Due Financing Receivables [Table Text Block]	30-59 60-89 Days Past Due 90 Total Past Due 90 Non- (In thousands) September 30, 2015 Residential real estate $ 1,095 $ — $ 216 $ 1,311 $ — $ 1,412 Commercial real estate — — 660 660 — 2,355 Commercial 16 — — 16 — 16 Home equity lines of credit — — — — — 34 Total $ 1,111 $ — $ 876 $ 1,987 $ — $ 3,817 December 31, 2014 Residential real estate $ — $ — $ — $ — $ — $ 1,313 Commercial real estate 832 — 759 1,591 — 3,356 Commercial — — — — — 22 Home equity lines of credit — — — — — 146 Total $ 832 $ — $ 759 $ 1,591 $ — $ 4,837
Impaired Financing Receivables [Table Text Block]	The following is a summary of impaired loans at September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 Recorded Unpaid Related Recorded Unpaid Related (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 1,599 $ 1,599 $ — $ 1,521 $ 1,521 $ — Commercial real estate 2,355 2,355 — 2,597 2,597 — Commercial 16 16 — 22 22 — Home equity lines of credit 34 34 — 146 146 — Total 4,004 4,004 — 4,286 4,286 — Impaired loans with a valuation allowance: Commercial real estate — — — 759 759 51 Total impaired loans $ 4,004 $ 4,004 $ — $ 5,045 $ 5,045 $ 51
Impaired Financing Receivables By Class Of Loans [Table Text Block]	Additional information pertaining to impaired loans follows: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Average Interest Interest Average Interest Interest (In thousands) Residential real estate $ 1,214 $ 14 $ 11 $ 1,235 $ 52 $ 48 Commercial real estate 2,979 51 28 3,149 141 103 Commercial 16 — — 18 1 1 Home equity lines of credit 118 1 1 135 3 3 Total $ 4,327 $ 66 $ 40 $ 4,537 $ 197 $ 155 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Average Interest Interest Average Interest Interest (In thousands) Residential real estate $ 410 $ 4 $ 4 $ 421 $ 8 $ 13 Commercial real estate 2,581 38 27 4,498 77 54 Commercial 26 — — 29 1 1 Home equity lines of credit 427 4 — 427 8 — Total $ 3,444 $ 46 $ 31 $ 5,375 $ 94 $ 68
Financing Receivable Credit Quality Indicators [Table Text Block]	The following table presents the Company’s loans by risk rating: September 30, 2015 December 31, 2014 Commercial Commercial Real Estate Construction Commercial Total Real Estate Construction Commercial Total (In thousands) Loans rated 1-4 $ 97,797 $ 83,148 $ 20,686 $ 201,631 $ 85,496 $ 72,668 $ 17,802 $ 175,966 Loans rated 5 6,062 — 990 7,052 6,054 — 1,022 7,076 Loans rated 6 1,515 — 196 1,711 2,390 — 229 2,619 Loans rated 7 660 — — 660 759 — — 759 Total $ 106,034 $ 83,148 $ 21,872 $ 211,054 $ 94,699 $ 72,668 $ 19,053 $ 186,420

FAIR VALUES OF FINANCIAL INST23

FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Financial Liabilities Fair Value Disclosure [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Assets and liabilities measured at fair value on a recurring basis at September 30, 2015 and December 31, 2014 are summarized below. September 30, 2015 Total Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available for sale $ — $ 50,173 $ — $ 50,173 Liabilities Forward loan sale commitments $ — $ 8 $ — $ 8 December 31, 2014 Total Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available for sale $ — $ 52,681 $ — $ 52,681 Forward loan sale commitments — 8 — 8 Total assets $ — $ 52,689 $ — $ 52,689 Liabilities Derivative loan commitments $ — $ 5 $ — $ 5
Fair Value Measurements, Nonrecurring [Table Text Block]	The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related individual assets as of December 31, 2014. There were no assets measured at fair value on a non-recurring basis as September 30, 2015. September 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (In thousands) Loans held for sale $ — $ — $ — $ — $ — $ 537 Impaired loans — — — — — 708 $ — $ — $ - $ — $ — $ 1,245
Gain Loss on Assets and Liabilities Measured at Fair Value on Nonrecurring Basis [Table Text Block]	The following table presents the total gains (losses) on loans held for sale and impaired loans recorded at fair value for the three and nine months ended September 30, 2015 and 2014. Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In thousands) Loans held for sale $ 25 $ 5 $ 2 $ 6 Impaired loans — 111 51 (70) $ 25 $ 116 $ 53 $ (64)
Fair Value, by Balance Sheet Grouping [Table Text Block]	The estimated fair values and related carrying amounts of the Company’s financial instruments are outlined in the table below. Certain financial instruments and all nonfinancial instruments are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein may not necessarily represent the underlying fair value of the Company. Fair Value Carrying Amount Level 1 Level 2 Level 3 Total (In thousands) September 30, 2015 Financial assets: Cash and cash equivalents $ 15,881 $ 15,881 $ — $ — $ 15,881 Certificates of deposit 100 100 — — 100 Securities available for sale 50,173 — 50,173 — 50,173 FHLB stock 5,205 — — 5,205 5,205 Loans, net 502,169 — — 496,806 496,806 Accrued interest receivable 1,392 — — 1,392 1,392 Financial liabilities: Deposits $ 452,717 $ — $ — $ 453,129 $ 453,129 Short-term borrowings 16,000 — 16,000 — 16,000 Long-term debt 66,945 — 67,151 — 67,151 Accrued interest payable 80 — — 80 80 Forward loan sale commitments 8 — 8 — 8 December 31, 2014 Financial assets: Cash and cash equivalents $ 19,271 $ 19,271 $ — $ — $ 19,271 Certificates of deposit 100 100 — — 100 Securities available for sale 52,681 — 52,681 — 52,681 FHLB stock 3,660 — — 3,660 3,660 Loans held for sale 537 — 537 — 537 Loans, net 443,346 — — 441,720 441,720 Accrued interest receivable 1,216 — — 1,216 1,216 Forward loan sale commitments 8 — 8 — 8 Financial liabilities: Deposits $ 422,245 $ — $ — $ 422,731 $ 422,731 Short-term borrowings 2,000 — 2,000 — 2,000 Long-term debt 59,500 — 59,504 — 59,504 Accrued interest payable 61 — — 61 61 Derivative loan commitments 5 — 5 — 5

EMPLOYEE STOCK OWNERSHIP PLAN (

EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Stock Ownership Plan ESOP Status Of Entity Shares Held [Table Text Block]	Shares held by the ESOP at September 30, 2015 include the following: Allocated 33,265 Committed to be allocated 9,629 Unallocated 145,430 188,324

EQUITY INCENTIVE PLAN (Tables)

EQUITY INCENTIVE PLAN (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of option activity under the Plan for the nine months ended September 30, 2015 is presented below: Weighted Average Weighted Remaining Number of Average Contractual Aggregate Options Shares Exercise Price Term Intrinsic Value (In thousands) (In years) (In thousands) Outstanding at beginning of period 214 $ 15.84 8.02 $ 707 Forfeited (1) 17.45 — Outstanding at end of period 213 $ 15.84 7.27 $ 706 Options exercisable at end of period 76 $ 15.38 7.02 $ 287

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Earnings per common share have been computed as follows: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In thousands, except per share amounts) Net income applicable to common stock $ 700 $ 516 $ 1,744 $ 1,341 Average number of common shares issued 2,459 2,451 2,459 2,452 Less: Average unallocated ESOP shares (146) (159) (149) (162) Average number of common shares outstanding used to calculate basic earnings per common share 2,313 2,292 2,310 2,290 Effect of dilutive stock options 22 9 16 5 Average number of common shares outstanding used to calculate diluted earnings per share 2,335 2,301 2,326 2,295 Earnings per common share: Basic $ 0.30 $ 0.23 $ 0.76 $ 0.59 Diluted $ 0.30 $ 0.22 $ 0.75 $ 0.58

LOAN POLICIES (Details Textual)

LOAN POLICIES (Details Textual)	9 Months Ended
	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan Payments Delinquency Period Beyond Which Loans Considered Non Accrual	90 days
Residential Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan To Value Ratio	80.00%
Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Time Period To Capture Relevant Loan Loss Data	10 years
Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Time Period To Capture Relevant Loan Loss Data	3 years

COMPREHENSIVE INCOME (Details)

COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized holding gains on securities available for sale	$ 593	$ 672
Tax effect	(226)	(255)
Net-of tax amount	$ 367	$ 417

SECURITIES AVAILABLE FOR SALE29

SECURITIES AVAILABLE FOR SALE (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 49,580	$ 52,009
Gross Unrealized Gains	768	790
Gross Unrealized Losses	(175)	(118)
Fair Value	50,173	52,681
SBA and other asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	11,806	12,761
Gross Unrealized Gains	213	171
Gross Unrealized Losses	(65)	(35)
Fair Value	11,954	12,897
State and municipal bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,970	5,706
Gross Unrealized Gains	146	171
Gross Unrealized Losses	(14)	(6)
Fair Value	7,102	5,871
Government-sponsored enterprise obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,999	6,500
Gross Unrealized Gains	0	6
Gross Unrealized Losses	(21)	(10)
Fair Value	1,978	6,496
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	13,715	10,424
Gross Unrealized Gains	49	42
Gross Unrealized Losses	(47)	(25)
Fair Value	13,717	10,441
Residential mortgage-backed securities [Member] | Government National Mortgage Association [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,737	5,812
Gross Unrealized Gains	100	167
Gross Unrealized Losses	(9)	(4)
Fair Value	4,828	5,975
Residential mortgage-backed securities [Member] | Government-sponsored enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,353	10,806
Gross Unrealized Gains	260	233
Gross Unrealized Losses	(19)	(38)
Fair Value	$ 10,594	$ 11,001

SECURITIES AVAILABLE FOR SALE30

SECURITIES AVAILABLE FOR SALE (Details 1) $ in Thousands	Sep. 30, 2015USD ($)
Available-for-sale Securities, Debt Maturities, Amortized Cost
Within 1 year	$ 3,615
After 1 year to 5 years	8,932
After 5 years to 10 years	8,115
After 10 years	2,022
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis, Total	22,684
Mortgage- and asset-backed securities	26,896
Available-for-sale Debt Securities, Amortized Cost Basis, Total	49,580
Available-for-sale Securities, Debt Maturities, Fair Value
Within 1 year	3,625
After 1 year to 5 years	8,953
After 5 years to 10 years	8,143
After 10 years	2,076
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Total	22,797
Mortgage- and asset-backed securities	27,376
Available-for-sale Securities, Debt Securities, Total	$ 50,173

SECURITIES AVAILABLE FOR SALE31

SECURITIES AVAILABLE FOR SALE (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	$ (126)	$ (48)
Less Than Twelve Months Fair Value	9,763	12,694
Over Twelve Months Gross Unrealized Losses	(49)	(70)
Over Twelve Months Fair Value	3,450	2,648
SBA and other asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(54)	(4)
Less Than Twelve Months Fair Value	2,638	1,009
Over Twelve Months Gross Unrealized Losses	(11)	(31)
Over Twelve Months Fair Value	774	1,297
State and municipal bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(13)	(1)
Less Than Twelve Months Fair Value	1,851	101
Over Twelve Months Gross Unrealized Losses	(1)	(5)
Over Twelve Months Fair Value	100	546
Government-sponsored enterprise obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(21)	(10)
Less Than Twelve Months Fair Value	1,229	3,490
Over Twelve Months Gross Unrealized Losses	0	0
Over Twelve Months Fair Value	0	0
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(38)	(25)
Less Than Twelve Months Fair Value	4,046	6,719
Over Twelve Months Gross Unrealized Losses	(9)	0
Over Twelve Months Fair Value	988	0
Residential mortgage-backed securities [Member] | Government National Mortgage Association [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	0	(4)
Less Than Twelve Months Fair Value	0	867
Over Twelve Months Gross Unrealized Losses	(9)	0
Over Twelve Months Fair Value	862	0
Residential mortgage-backed securities [Member] | Government-sponsored enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	0	(4)
Less Than Twelve Months Fair Value	0	508
Over Twelve Months Gross Unrealized Losses	(19)	(34)
Over Twelve Months Fair Value	$ 726	$ 805

SECURITIES AVAILABLE FOR SALE32

SECURITIES AVAILABLE FOR SALE (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Unrealized Losses Debt Securities Aggregate Depreciation Percentage	1.20%	1.20%
Proceeds from Sale of Available-for-sale Securities	$ 1,900	$ 1,861	$ 903
Available-for-sale Securities, Gross Realized Gains	37	37	20
Available-for-sale Securities, Gross Realized Losses	$ 9	$ 9	$ 4

LOANS AND ALLOWANCE FOR LOAN 33

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans	$ 507,022	$ 448,137
Allowance for loan losses	(4,966)	(4,738)
Net deferred origination costs (fees)	113	(53)
Loans, net	502,169	443,346
Commercial [Member]
Loans	21,872	19,053
Consumer Loan [Member]
Loans	31,738	28,445
Residential - fixed [Member]
Loans	17,256	20,651
Residential - variable [Member]
Loans	246,974	212,621
Commercial Real Estate [Member]
Loans	106,034	94,699
Construction [Member]
Loans	83,148	72,668
Secured [Member]
Loans	21,829	18,991
Unsecured [Member]
Loans	43	62
Home equity lines of credit [Member]
Loans	31,475	28,153
Other Consumer [Member]
Loans	263	292
Real estate loans [Member]
Loans	$ 453,412	$ 400,639

LOANS AND ALLOWANCE FOR LOAN 34

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Allowance Beginning Balance	$ 4,816	$ 4,613	$ 4,738	$ 4,213
Provision (credit) for loan losses	150	180	300	580
Loans charged off	0	(111)	(72)	(111)
Allowance Ending Balance	4,966	4,682	4,966	4,682
Residential Real Estate [Member]
Allowance Beginning Balance	1,557	1,495	1,710	1,351
Provision (credit) for loan losses	(29)	147	(165)	291
Loans charged off	0	0	(17)	0
Allowance Ending Balance	1,528	1,642	1,528	1,642
Commercial Real Estate [Member]
Allowance Beginning Balance	1,074	1,001	1,056	887
Provision (credit) for loan losses	(37)	(63)	36	51
Loans charged off	0	0	(55)	0
Allowance Ending Balance	1,037	938	1,037	938
Construction [Member]
Allowance Beginning Balance	1,295	1,443	1,273	1,305
Provision (credit) for loan losses	188	(39)	210	99
Loans charged off	0	0	0	0
Allowance Ending Balance	1,483	1,404	1,483	1,404
Commercial [Member]
Allowance Beginning Balance	461	351	428	426
Provision (credit) for loan losses	9	80	42	5
Loans charged off	0	(2)	0	(2)
Allowance Ending Balance	470	429	470	429
Home equity lines of credit [Member]
Allowance Beginning Balance	223	306	224	213
Provision (credit) for loan losses	(3)	13	(4)	106
Loans charged off	0	(109)	0	(109)
Allowance Ending Balance	220	210	220	210
Other Consumer [Member]
Allowance Beginning Balance	4	4	4	7
Provision (credit) for loan losses	(1)	0	(1)	(3)
Loans charged off	0	0	0	0
Allowance Ending Balance	3	4	3	4
Unallocated [Member]
Allowance Beginning Balance	202	13	43	24
Provision (credit) for loan losses	23	42	182	31
Loans charged off	0	0	0	0
Allowance Ending Balance	$ 225	$ 55	$ 225	$ 55

LOANS AND ALLOWANCE FOR LOAN 35

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Allowance related to impaired loans	$ 0		$ 51
Allowance related to non-impaired loans	4,966		4,687
Total allowance	4,966	$ 4,816	4,738	$ 4,682	$ 4,613	$ 4,213
Impaired loan balances	4,004		5,045
Non-impaired loan balances	503,018		443,092
Total loans	507,022		448,137
Residential Real Estate [Member]
Allowance related to impaired loans	0		0
Allowance related to non-impaired loans	1,528		1,710
Total allowance	1,528	1,557	1,710	1,642	1,495	1,351
Impaired loan balances	1,599		1,521
Non-impaired loan balances	262,631		231,751
Total loans	264,230		233,272
Commercial Real Estate [Member]
Allowance related to impaired loans	0		51
Allowance related to non-impaired loans	1,037		1,005
Total allowance	1,037	1,074	1,056	938	1,001	887
Impaired loan balances	2,355		3,356
Non-impaired loan balances	103,679		91,343
Total loans	106,034		94,699
Construction [Member]
Allowance related to impaired loans	0		0
Allowance related to non-impaired loans	1,483		1,273
Total allowance	1,483	1,295	1,273	1,404	1,443	1,305
Impaired loan balances	0		0
Non-impaired loan balances	83,148		72,668
Total loans	83,148		72,668
Commercial [Member]
Allowance related to impaired loans	0		0
Allowance related to non-impaired loans	470		428
Total allowance	470	461	428	429	351	426
Impaired loan balances	16		22
Non-impaired loan balances	21,856		19,031
Total loans	21,872		19,053
Home equity lines of credit [Member]
Allowance related to impaired loans	0		0
Allowance related to non-impaired loans	220		224
Total allowance	220	223	224	210	306	213
Impaired loan balances	34		146
Non-impaired loan balances	31,441		28,007
Total loans	31,475		28,153
Other Consumer [Member]
Allowance related to impaired loans	0		0
Allowance related to non-impaired loans	3		4
Total allowance	3	4	4	4	4	7
Impaired loan balances	0		0
Non-impaired loan balances	263		292
Total loans	263		292
Unallocated [Member]
Allowance related to impaired loans	0		0
Allowance related to non-impaired loans	225		43
Total allowance	225	$ 202	43	$ 55	$ 13	$ 24
Impaired loan balances	0		0
Non-impaired loan balances	0		0
Total loans	$ 0		$ 0

LOANS AND ALLOWANCE FOR LOAN 36

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Total Past Due	$ 1,987	$ 1,591
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	3,817	4,837
Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	1,111	832
Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due	876	759
Residential Real Estate [Member]
Total Past Due	1,311	0
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	1,412	1,313
Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	1,095	0
Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	0
Residential Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due	216	0
Commercial Real Estate [Member]
Total Past Due	660	1,591
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	2,355	3,356
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	0	832
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	0
Commercial Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due	660	759
Commercial [Member]
Total Past Due	16	0
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	16	22
Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	16	0
Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	0
Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due	0	0
Home equity lines of credit [Member]
Total Past Due	0	0
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	34	146
Home equity lines of credit [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	0	0
Home equity lines of credit [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	0
Home equity lines of credit [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN 37

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Recorded Investment, Without a Valuation Allowance	$ 4,004	$ 4,286
Unpaid Principal Balance, Without a Valuation Allowance	4,004	4,286
Related Allowance	0	51
Recorded Investment	4,004	5,045
Unpaid Principal Balance	4,004	5,045
Residential Real Estate [Member]
Recorded Investment, Without a Valuation Allowance	1,599	1,521
Unpaid Principal Balance, Without a Valuation Allowance	1,599	1,521
Commercial Real Estate [Member]
Recorded Investment, Without a Valuation Allowance	2,355	2,597
Unpaid Principal Balance, Without a Valuation Allowance	2,355	2,597
Related Allowance	0	51
Recorded Investment, With a Valuation Allowance	0	759
Unpaid Principal Balance, With a Valuation Allowance	0	759
Home equity lines of credit [Member]
Recorded Investment, Without a Valuation Allowance	34	146
Unpaid Principal Balance, Without a Valuation Allowance	34	146
Commercial [Member]
Recorded Investment, Without a Valuation Allowance	16	22
Unpaid Principal Balance, Without a Valuation Allowance	$ 16	$ 22

LOANS AND ALLOWANCE FOR LOAN 38

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Average Recorded Investment	$ 4,327	$ 3,444	$ 4,537	$ 5,375
Interest Income Recognized	66	46	197	94
Interest Income Recognized on Cash Basis	40	31	155	68
Commercial [Member]
Average Recorded Investment	16	26	18	29
Interest Income Recognized	0	0	1	1
Interest Income Recognized on Cash Basis	0	0	1	1
Residential Real Estate [Member]
Average Recorded Investment	1,214	410	1,235	421
Interest Income Recognized	14	4	52	8
Interest Income Recognized on Cash Basis	11	4	48	13
Commercial Real Estate [Member]
Average Recorded Investment	2,979	2,581	3,149	4,498
Interest Income Recognized	51	38	141	77
Interest Income Recognized on Cash Basis	28	27	103	54
Home equity lines of credit [Member]
Average Recorded Investment	118	427	135	427
Interest Income Recognized	1	4	3	8
Interest Income Recognized on Cash Basis	$ 1	$ 0	$ 3	$ 0

LOANS AND ALLOWANCE FOR LOAN 39

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 6) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans	$ 211,054	$ 186,420
Loans rated 1-4 [Member]
Loans	201,631	175,966
Loans rated 5 [Member]
Loans	7,052	7,076
Loans rated 6 [Member]
Loans	1,711	2,619
Loans rated 7 [Member]
Loans	660	759
Commercial Real Estate [Member]
Loans	106,034	94,699
Commercial Real Estate [Member] | Loans rated 1-4 [Member]
Loans	97,797	85,496
Commercial Real Estate [Member] | Loans rated 5 [Member]
Loans	6,062	6,054
Commercial Real Estate [Member] | Loans rated 6 [Member]
Loans	1,515	2,390
Commercial Real Estate [Member] | Loans rated 7 [Member]
Loans	660	759
Construction [Member]
Loans	83,148	72,668
Construction [Member] | Loans rated 1-4 [Member]
Loans	83,148	72,668
Construction [Member] | Loans rated 5 [Member]
Loans	0	0
Construction [Member] | Loans rated 6 [Member]
Loans	0	0
Construction [Member] | Loans rated 7 [Member]
Loans	0	0
Commercial [Member]
Loans	21,872	19,053
Commercial [Member] | Loans rated 1-4 [Member]
Loans	20,686	17,802
Commercial [Member] | Loans rated 5 [Member]
Loans	990	1,022
Commercial [Member] | Loans rated 6 [Member]
Loans	196	229
Commercial [Member] | Loans rated 7 [Member]
Loans	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN 40

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Loans and Leases Receivable, Gross	$ 507,022		$ 507,022		$ 448,137
Financing Receivable, Modifications, Subsequent Default, Recorded Investment	0	$ 0	0	$ 0
Troubled Debt Restructuring [Member]
Financing Receivable, Modifications, Recorded Investment	403		403		220
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down			216		$ 220
Financing Receivable, Troubled Debt Restructurings, Total	0	$ 0	0	$ 0
Loan rated 9 [Member] | Maximum [Member] | Commercial Loan [Member]
Loans and Leases Receivable, Gross	$ 25		$ 25
Credit Rating Eleven [Member] | Maximum [Member]
Period After Credit Rating Assignment			60 days

FAIR VALUES OF FINANCIAL INST41

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		$ 52,689
Derivative loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		5
Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 50,173	52,681
Forward loan sale commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		8
Total liabilities	8
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		0
Fair Value, Inputs, Level 1 [Member] | Derivative loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		0
Fair Value, Inputs, Level 1 [Member] | Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Fair Value, Inputs, Level 1 [Member] | Forward loan sale commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		0
Total liabilities	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		52,689
Fair Value, Inputs, Level 2 [Member] | Derivative loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		5
Fair Value, Inputs, Level 2 [Member] | Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	50,173	52,681
Fair Value, Inputs, Level 2 [Member] | Forward loan sale commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		8
Total liabilities	8
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		0
Fair Value, Inputs, Level 3 [Member] | Derivative loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		0
Fair Value, Inputs, Level 3 [Member] | Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Fair Value, Inputs, Level 3 [Member] | Forward loan sale commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		$ 0
Total liabilities	$ 0

FAIR VALUES OF FINANCIAL INST42

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans held for sale		$ 537
Level 3 [Member]
Loans held for sale	$ 0	537
Impaired loans	0	708
Assets, Fair Value Disclosure, Nonrecurring	$ 0	$ 1,245

FAIR VALUES OF FINANCIAL INST43

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Non Recurring Basis [Line Items]
Total gain (Loss)	$ 25	$ 116	$ 53	$ (64)
Loans Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Non Recurring Basis [Line Items]
Total gain (Loss)	25	5	2	6
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Non Recurring Basis [Line Items]
Total gain (Loss)	$ 0	$ 111	$ 51	$ (70)

FAIR VALUES OF FINANCIAL INST44

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financial assets:
Cash and cash equivalents	$ 15,881	$ 19,271
Certificates of deposit	100	100
Securities available for sale	50,173	52,681
FHLB stock	5,205	3,660
Loans held for sale		537
Loans, net	496,806	441,720
Accrued interest receivable	1,392	1,216
Forward loan sale commitments		8
Financial liabilities:
Deposits	453,129	422,731
Short-term borrowings	16,000	2,000
Long-term debt	67,151	59,504
Accrued interest payable	80	61
Forward loan sale commitments	8
Derivative loan commitments		5
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Cash and cash equivalents	15,881	19,271
Certificates of deposit	100	100
Securities available for sale	0	0
FHLB stock	0	0
Loans held for sale		0
Loans, net	0	0
Accrued interest receivable	0	0
Forward loan sale commitments		0
Financial liabilities:
Deposits	0	0
Short-term borrowings	0	0
Long-term debt	0	0
Accrued interest payable	0	0
Forward loan sale commitments	0
Derivative loan commitments		0
Fair Value, Inputs, Level 2 [Member]
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit	0	0
Securities available for sale	50,173	52,681
FHLB stock	0	0
Loans held for sale		537
Loans, net	0	0
Accrued interest receivable	0	0
Forward loan sale commitments		8
Financial liabilities:
Deposits	0	0
Short-term borrowings	16,000	2,000
Long-term debt	67,151	59,504
Accrued interest payable	0	0
Forward loan sale commitments	8
Derivative loan commitments		5
Fair Value, Inputs, Level 3 [Member]
Financial assets:
Cash and cash equivalents	0	0
Certificates of deposit	0	0
Securities available for sale	0	0
FHLB stock	5,205	3,660
Loans held for sale	0	537
Loans, net	496,806	441,720
Accrued interest receivable	1,392	1,216
Forward loan sale commitments		0
Financial liabilities:
Deposits	453,129	422,731
Short-term borrowings	0	0
Long-term debt	0	0
Accrued interest payable	80	61
Forward loan sale commitments	0
Derivative loan commitments		0
Reported Carrying Amount Measurement [Member]
Financial assets:
Cash and cash equivalents	15,881	19,271
Certificates of deposit	100	100
Securities available for sale	50,173	52,681
FHLB stock	5,205	3,660
Loans held for sale		537
Loans, net	502,169	443,346
Accrued interest receivable	1,392	1,216
Forward loan sale commitments		8
Financial liabilities:
Deposits	452,717	422,245
Short-term borrowings	16,000	2,000
Long-term debt	66,945	59,500
Accrued interest payable	80	61
Forward loan sale commitments	$ 8
Derivative loan commitments		$ 5

EMPLOYEE STOCK OWNERSHIP PLAN45

EMPLOYEE STOCK OWNERSHIP PLAN (Details) - shares	Sep. 30, 2015	Sep. 30, 2014
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Allocated	33,265
Committed to be allocated	9,629	9,629
Unallocated	145,430
Employee Stock Ownership Plan (ESOP), Shares in ESOP	188,324

EMPLOYEE STOCK OWNERSHIP PLAN46

EMPLOYEE STOCK OWNERSHIP PLAN (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Employee Stock Ownership Plan ESOP Percent Of Shares Authorized To Be Purchased		7.66%
Employee Stock Ownership Plan ESOP Debt Structure Direct Loan Term		15 years
Employee Stock Ownership Plan ESOP Debt Structure Direct Loan Interest Rate		3.25%
Employee Stock Ownership Plan ESOP Cost Of Committed To Be Released Shares		$ 2,800
Employee Stock Ownership Plan (ESOP), Shares in ESOP	188,324	188,324
Employee Stock Ownership Plan (ESOP), Compensation Expense	$ 63	$ 185	$ 180

EQUITY INCENTIVE PLAN (Details)

EQUITY INCENTIVE PLAN (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Options
Outstanding at beginning of period	214
Forfeited	(1)
Outstanding at end of period	213	214
Options exercisable at end of period	76
Weighted Average Exercise Price
Outstanding at beginning of period	$ 15.84
Forfeited	17.45
Outstanding at end of period	15.84	$ 15.84
Options exercisable at end of period	$ 15.38
Weighted Average Remaining Contractual Term
Outstanding at beginning of period	7 years 3 months 7 days	8 years 7 days
Options exercisable at end of period	7 years 7 days
Aggregate intrinsic value
Aggregate intrinsic value	$ 706
Options exercisable at end of period	$ 287

EQUITY INCENTIVE PLAN (Details

EQUITY INCENTIVE PLAN (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for non-vested stock options	$ 513		$ 513
Unrecognized compensation expense, recognition period			2 years 3 months 18 days
Compensation expense for stock award plan	$ 71	$ 64	$ 223	$ 202
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, recognition period			2 years 4 months 24 days
Equity Incentive Plan, options granted	96,286		96,286
Recognize tax Benefit	$ 28	26	$ 89	80
Unrecognized compensation expense for non-vested restricted stock	660		660
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognize tax Benefit	10	10	28	28
Share base compensation expenses applicable to stock option plan	$ 51	$ 48	$ 149	$ 149
2012 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity Incentive Plan, options granted	240,751		240,751
Stock options term			10 years
Equity awards, vesting period			5 years
Rate for Vesting Period			20.00%

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net income applicable to common stock	$ 700	$ 516	$ 1,744	$ 1,341
Average number of common shares issued	2,459,000	2,451,000	2,459,000	2,452,000
Less: Average unallocated ESOP shares	(146,000)	(159,000)	(149,000)	(162,000)
Average number of common shares outstanding used to calculate basic earnings per common share	2,313,103	2,291,824	2,309,894	2,290,510
Effect of dilutive stock options	22,000	9,000	16,000	5,000
Average number of common shares outstanding used to calculate diluted earnings per share	2,334,529	2,301,067	2,326,123	2,295,322
Earnings per common share:
Basic	$ 0.30	$ 0.23	$ 0.76	$ 0.59
Diluted	$ 0.30	$ 0.22	$ 0.75	$ 0.58

EARNINGS PER COMMON SHARE (De50

EARNINGS PER COMMON SHARE (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	31,400	10,500	31,400	10,500

DIVIDENDS DECLARED (Details Tex

DIVIDENDS DECLARED (Details Textual)	1 Months Ended
	Aug. 19, 2015$ / shares
Dividends Payable [Line Items]
Cash dividend declared	$ 0.03
Dividend declared date	Aug. 19, 2015
Dividend payable date	Sep. 2, 2015
Dividend payable, date of record	Sep. 2, 2015