Wellesley Bancorp 10-Q 12 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
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		2,484,852

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and due from banks	$ 3,652	$ 3,607
Short-term investments	22,585	24,818
Total cash and cash equivalents	26,237	28,425
Certificates of deposit	100	100
Securities available for sale, at fair value	66,943	64,648
Federal Home Loan Bank of Boston stock, at cost	5,937	5,758
Loans held for sale	0	1,454
Loans	592,586	581,563
Less allowance for loan losses	(5,421)	(5,432)
Loans, net	587,165	576,131
Bank-owned life insurance	7,360	7,303
Premises and equipment, net	3,788	3,876
Accrued interest receivable	1,606	1,647
Net deferred tax asset	2,577	2,742
Other assets	2,554	3,199
Total assets	704,267	695,283
Deposits:
Noninterest-bearing	91,957	94,946
Interest-bearing	434,109	427,864
Total deposits	526,066	522,810
Short-term borrowings	12,250	21,250
Long-term debt	96,934	83,020
Subordinated debt	9,778	9,769
Accrued expenses and other liabilities	2,853	3,220
Total liabilities	647,881	640,069
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, 2,484,852 shares issued and outstanding at March 31, 2017 and December 31, 2016	25	25
Additional paid-in capital	24,913	24,703
Retained earnings	32,780	31,999
Accumulated other comprehensive loss	(80)	(229)
Unearned compensation - ESOP	(1,252)	(1,284)
Total stockholders' equity	56,386	55,214
Total liabilities and stockholders' equity	$ 704,267	$ 695,283

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - $ / shares	Mar. 31, 2017	Dec. 31, 2016
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	2,484,852	2,484,852
Common Stock, Shares, Outstanding	2,484,852	2,484,852

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Interest and dividend income:
Interest and fees on loans and loans held for sale	$ 5,977	$ 5,557
Debt securities:
Taxable	339	330
Tax-exempt	69	53
Short-term investments and certificates of deposit	43	23
FHLB stock	57	46
Total interest and dividend income	6,485	6,009
Interest expense:
Deposits	793	781
Short-term borrowings	32	16
Long-term debt	286	245
Subordinated debt	158	159
Total interest expense	1,269	1,201
Net interest income	5,216	4,808
Provision for loan losses	0	62
Net interest income, after provision for loan losses	5,216	4,746
Noninterest income:
Customer service fees	34	26
Mortgage banking activities	43	32
Income on bank-owned life insurance	57	58
Wealth management fees	295	211
Miscellaneous	92	18
Total noninterest income	521	345
Noninterest expenses:
Salaries and employee benefits	2,609	2,302
Occupancy and equipment	696	663
Data processing	201	196
FDIC insurance	147	77
Professional fees	173	191
Other general and administrative	467	477
Total noninterest expenses	4,293	3,906
Income before income taxes	1,444	1,185
Provision for income taxes	563	453
Net income	881	732
Other comprehensive income:
Net unrealized holding gains on available-for-sale securities	237	790
Income tax expense	(88)	(312)
Total other comprehensive income	149	478
Comprehensive income	$ 1,030	$ 1,210
Earnings per common share:
Basic	$ 0.37	$ 0.32
Diluted	$ 0.36	$ 0.31
Weighted average shares outstanding:
Basic	2,358,074	2,318,937
Diluted	2,441,993	2,339,800

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 (loss) [Member]	Unearned Compensation - ESOP [Member]
Balance at Dec. 31, 2015	$ 52,178	$ 25	$ 23,992	$ 29,411	$ 162	$ (1,412)
Balance (in shares) at Dec. 31, 2015		2,458,553
Comprehensive income	1,210	$ 0	0	732	478	0
Dividends paid to common stockholders	(73)	0	0	(73)	0	0
Share-based compensation - equity incentive plan	127	0	127	0	0	0
ESOP shares committed to be allocated	59	0	28	0	0	31
Balance at Mar. 31, 2016	53,501	$ 25	24,147	30,070	640	(1,381)
Balance (in shares) at Mar. 31, 2016		2,458,553
Balance at Dec. 31, 2016	55,214	$ 25	24,703	31,999	(229)	(1,284)
Balance (in shares) at Dec. 31, 2016		2,484,852
Comprehensive income	1,030	$ 0	0	881	149	0
Dividends paid to common stockholders	(100)	0	0	(100)	0	0
Share-based compensation - equity incentive plan	154	0	154	0	0	0
ESOP shares committed to be allocated	88	0	56	0	0	32
Balance at Mar. 31, 2017	$ 56,386	$ 25	$ 24,913	$ 32,780	$ (80)	$ (1,252)
Balance (in shares) at Mar. 31, 2017		2,484,852

Consolidated Statements of Cha6

Consolidated Statements of Changes in Stockholders' Equity [Parenthetical] - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Dividends paid to common stockholders, per share	$ 0.04	$ 0.03
ESOP shares committed to be allocated, Shares	3,209	3,210

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 881	$ 732
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	0	62
Depreciation and amortization	192	170
Net amortization of securities	53	131
Principal balance of loans sold	1,454	2,638
Loans originated for sale	0	(2,987)
Accretion of net deferred loan fees	(134)	(165)
Amortization of subordinated debt issuance costs	9	9
Income on bank-owned life insurance	(57)	(58)
Deferred income tax provision	77	107
ESOP expense	88	59
Share-based compensation	154	127
Net change in other assets and liabilities	319	136
Net cash provided by operating activities	3,036	961
Activity in securities available for sale:
Maturities, prepayments and calls	902	3,280
Purchases	(3,013)	(7,318)
(Purchase) redemption of Federal Home Loan Bank stock	(179)	387
Loan originations, net of principal payments	(10,900)	(4,171)
Additions to premises and equipment	(104)	(362)
Net cash used by investing activities	(13,294)	(8,184)
Cash flows from financing activities:
Net increase in deposits	3,256	7,579
Proceeds from issuance of long-term debt	22,000	0
Repayments of long-term debt	(8,086)	(84)
Decrease in short-term borrowings	(9,000)	(10,000)
Cash dividends paid on common stock	(100)	(73)
Net cash provided by (used) by financing activities	8,070	(2,578)
Net change in cash and cash equivalents	(2,188)	(9,801)
Cash and cash equivalents at beginning period	28,425	28,178
Cash and cash equivalents at end of period	26,237	18,377
Supplementary information:
Interest paid	1,293	1,205
Income taxes paid	$ 116	$ 325

BASIS OF PRESENTATION AND CONSO

BASIS OF PRESENTATION AND CONSOLIDATION	3 Months Ended
	Mar. 31, 2017
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, to hold, manage and sell foreclosed real estate. All significant intercompany balances and transactions have been eliminated in consolidation. Assets under management at Wellesley Investment Partners, LLC are not included in these consolidated financial statements because they are not assets of the Company. 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 2016 Annual Report on Form 10-K. The results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or for any other period.

LOAN POLICIES

LOAN POLICIES	3 Months Ended
	Mar. 31, 2017
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. 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 three and 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. The 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 include speculative construction loans primarily on residential properties for which payment is derived from the 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 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, the fair value of the loan 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 troubled debt restructuring 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. 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 initially classified as impaired. 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	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) Note [Text Block]	NOTE 3 – COMPREHENSIVE INCOME Accounting principles generally require that recognized revenue, expenses, and 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). March 31, December 31, 2017 2016 (In thousands) Unrealized holding losses on securities available for sale $ (137) $ (374) Tax effect 57 145 Net-of tax amount $ (80) $ (229)

RECENT ACCOUNTING AND REGULATOR

RECENT ACCOUNTING AND REGULATORY PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 4 – RECENT ACCOUNTING AND REGULATORY PRONOUNCEMENTS Effective January 1, 2017, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-09, Compensation-Stock Compensation (Topic 718). During the quarter ended March 31, 2017, the FASB issued ASU 2017-08, Receivables- Non-refundable Fees and Other Costs (Subtopic 310-20) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers Revenue Recognition In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10), In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842 In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash .

SECURITIES AVAILABLE FOR SALE

SECURITIES AVAILABLE FOR SALE	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 3,756 $ 51 $ (41) $ 3,766 Government-sponsored enterprises 12,813 88 (109) 12,792 SBA and other asset-backed securities 12,092 107 (91) 12,108 State and municipal bonds 12,525 126 (122) 12,529 Government-sponsored enterprise obligations 8,000 — (153) 7,847 Corporate bonds 17,894 74 (67) 17,901 $ 67,080 $ 446 $ (583) $ 66,943 December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 3,876 $ 55 $ (33) $ 3,898 Government-sponsored enterprises 13,134 73 (97) 13,110 SBA and other asset-backed securities 12,571 70 (140) 12,501 State and municipal bonds 9,533 93 (156) 9,470 Government-sponsored enterprise obligations 8,000 — (197) 7,803 Corporate bonds 17,908 55 (97) 17,866 $ 65,022 $ 346 $ (720) $ 64,648 There were no sales of available-for-sale securities during the three months ended March 31, 2017 and 2016. Amortized Fair Cost Value (In thousands) Within 1 year $ 5,145 $ 5,094 After 1 year to 5 years 14,473 14,526 After 5 years to 10 years 17,865 17,754 After 10 years 936 903 38,419 38,277 Mortgage- and asset-backed securities 28,661 28,666 $ 67,080 $ 66,943 Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) March 31, 2017 Residential mortgage-backed securities: Government National Mortgage Association $ (21) $ 850 $ (20) $ 1,162 Government-sponsored enterprises (82) 5,123 (27) 501 SBA and other asset-backed securities (75) 2,602 (16) 1,599 State and municipal bonds (121) 5,301 (1) 396 Government-sponsored enterprise obligations (153) 7,847 — — Corporate bonds (64) 5,875 (3) 994 $ (516) $ 27,598 $ (67) $ 4,652 December 31, 2016 Residential mortgage-backed securities: Government National Mortgage Association $ (11) $ 1,214 $ (22) $ 849 Government-sponsored enterprises (85) 6,771 (12) 540 SBA and other asset-backed securities (115) 6,109 (25) 1,608 State and municipal bonds (154) 5,257 (2) 396 Government-sponsored enterprise obligations (197) 7,803 — — Corporate bonds (93) 7,360 (4) 992 $ (655) $ 34,514 $ (65) $ 4,385 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 March 31, 2017, various debt securities have unrealized losses with aggregate depreciation of 1.8

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	3 Months Ended
	Mar. 31, 2017
Notes and Loans Payable, Current [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 6 – LOANS AND ALLOWANCE FOR LOAN LOSSES March 31, December 31, 2017 2016 (In thousands) Real estate loans: Residential – fixed $ 23,362 $ 18,573 Residential – variable 258,347 249,486 Commercial 119,898 121,134 Construction 109,647 110,390 511,254 499,583 Commercial loans: Secured 48,632 49,126 Unsecured 23 221 48,655 49,347 Consumer loans: Home equity lines of credit 32,534 32,437 Other 201 216 32,735 32,653 Total loans 592,644 581,583 Less: Allowance for loan losses (5,421) (5,432) Net deferred origination fees (58) (20) Loans, net $ 587,165 $ 576,131 Residential Commercial Home Other Real Estate Real Estate Construction Commercial Equity Consumer Unallocated Total (In thousands) Three Months Ended March 31, 2017 Allowance at December 31, 2016 $ 1,422 $ 1,145 $ 1,827 $ 703 $ 211 $ 3 $ 121 $ 5,432 Provision (credit) for loan losses 65 (11) (132) 7 — 11 60 — Loans charged off — — — — — (11) — (11) Allowance at March 31, 2017 $ 1,487 $ 1,134 $ 1,695 $ 710 $ 211 $ 3 $ 181 $ 5,421 Three Months Ended March 31, 2016 Allowance at December 31, 2015 $ 1,490 $ 1,025 $ 1,684 $ 509 $ 238 $ 2 $ 164 $ 5,112 Provision (credit) for loan losses 30 18 (97) 80 (17) — 48 62 Allowance at March 31, 2016 $ 1,520 $ 1,043 $ 1,587 $ 589 $ 221 $ 2 $ 212 $ 5,174 Residential Commercial Home Other Real Estate Real Estate Construction Commercial Equity Consumer Unallocated Total (In thousands) March 31, 2017 Allowance related to impaired loans $ — $ — $ — $ — $ — $ — $ — $ — Allowance related to non-impaired loans 1,487 1,134 1,695 710 211 3 181 5,421 Total allowance $ 1,487 $ 1,134 $ 1,695 $ 710 $ 211 $ 3 $ 181 $ 5,421 Impaired loan balances $ 177 $ 572 $ — $ — $ — $ — $ — $ 749 Non-impaired loan balances 281,532 119,326 109,647 48,655 32,534 201 — 591,895 Total loans $ 281,709 $ 119,898 $ 109,647 $ 48,655 $ 32,534 $ 201 $ — $ 592,644 December 31, 2016 Allowance related to impaired loans $ — $ — $ — $ — $ — $ — $ — $ — Allowance related to non-impaired loans 1,422 1,145 1,827 703 211 3 121 5,432 Total allowance $ 1,422 $ 1,145 $ 1,827 $ 703 $ 211 $ 3 $ 121 $ 5,432 Impaired loan balances $ 179 591 $ — $ — $ — $ — $ — $ 770 Non-impaired loan balances 267,880 120,543 110,390 49,347 32,437 216 — 580,813 Total loans $ 268,059 $ 121,134 $ 110,390 $ 49,347 $ 32,437 $ 216 $ — $ 581,583 Past Due 90 30-59 Past Due 90 Days or More Non- Days 60-89 Days Days or Total and Still accrual Past Due Past Due More Past Due Accruing Loans (In thousands) March 31, 2017 Commercial real estate $ — $ — $ 572 $ 572 $ — $ 572 Home equity lines of credit 142 — — 142 — — Total $ 142 $ — $ 572 $ 714 $ — $ 572 December 31, 2016 Commercial real estate $ — $ 979 $ 591 $ 1,570 $ — $ 591 Home equity lines of credit — 208 — 208 — — Total $ — $ 1,187 $ 591 $ 1,778 $ — $ 591 March 31, 2017 December 31, 2016 Unpaid Unpaid Recorded Principal Recorded Principal Investment Balance Investment Balance (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 177 $ 194 $ 179 $ 196 Commercial real estate 572 626 591 646 Total impaired loans $ 749 $ 820 $ 770 $ 842 Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) Residential real estate $ 178 $ 2 $ — $ 612 $ 6 $ 6 Commercial real estate 583 — — 639 — — Commercial — — — 9 — — Home equity lines of credit — — — 34 — — Total $ 761 $ 2 $ — $ 1,294 $ 6 $ 6 No additional funds are committed to be advanced in connection with impaired loans. There were no new TDRs recorded during the three months ended March 31, 2017 and 2016. There were no TDRs that defaulted during the three months ended March 31, 2017 and 2016, and for which default was within one year of the restructure date. Generally TDR loans are considered to be in default at 90 days past due. 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 or “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. March 31, 2017 December 31, 2016 Commercial Commercial Real Estate Construction Commercial Total Real Estate Construction Commercial Total (In thousands) Loans rated 1 -4 $ 115,023 $ 109,647 $ 47,512 $ 272,182 $ 115,110 $ 110,390 $ 46,820 $ 272,320 Loans rated 5 4,303 — 332 4,635 5,433 — 1,569 7,002 Loans rated 6 — — 811 811 — — 958 958 Loans rated 7 572 — — 572 591 — — 591 Total $ 119,898 $ 109,647 $ 48,655 $ 278,200 $ 121,134 $ 110,390 $ 49,347 $ 280,871

FAIR VALUES OF FINANCIAL INSTRU

FAIR VALUES OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2017
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 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 assets include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as those 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 based on valuation 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., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. 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. Subordinated debt : The fair values reported for subordinated debentures are based on the discounted value of contractual cash flows. The discount rates used are representative of approximate rates currently offered on instruments with similar terms and maturities. 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 Total Level 1 Level 2 Level 3 Fair Value (In thousands) March 31, 2017 Assets Securities available for sale $ — $ 66,943 $ — $ 66,943 Total assets $ — $ 66,943 $ — $ 66,943 December 31, 2016 Assets Securities available for sale $ — $ 64,648 $ — $ 64,648 Forward loan sale commitments — 72 — 72 Total assets $ — $ 64,720 $ — $ 64,720 Liabilities Derivative loan commitments $ — $ 17 $ — $ 17 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 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”) accounting or write-downs of individual assets. March 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (In thousands) Loans held for sale $ — $ — $ — $ — $ — $ 1,454 $ — $ — $ — $ — $ — $ 1,454 Three Months Ended March 31, 2017 2016 (In thousands) Loans held for sale $ — $ (51) Loans held for sale (“LHFS”) are evaluated for losses associated with the application of LOCOM accounting. There were no loans held for sale at March 31, 2017. At March 31, 2016, 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 March 31, 2017 and December 31, 2016. Summary of fair values of financial instruments 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. Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) March 31, 2017 Financial assets: Cash and cash equivalents $ 26,237 $ 26,237 $ — $ — $ 26,237 Certificate of deposit 100 100 — — 100 Securities available for sale 66,943 — 66,943 — 66,943 FHLB stock 5,937 — — 5,937 5,937 Loans, net 587,165 — — 601,925 601,925 Accrued interest receivable 1,606 — — 1,606 1,606 Financial liabilities: Deposits $ 526,066 $ — $ — $ 527,100 $ 527,100 Short-term borrowings 12,250 — 12,250 — 12,250 Long-term debt 96,934 — 97,195 — 97,195 Subordinated debt 9,778 — — 9,521 9,521 Accrued interest payable 164 — — 164 164 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) December 31, 2016 Financial assets: Cash and cash equivalents $ 28,425 $ 28,425 $ — $ — $ 28,425 Certificate of deposit 100 100 — — 100 Securities available for sale 64,648 — 64,648 — 64,648 FHLB stock 5,758 — — 5,758 5,758 Loans held for sale 1,454 — — 1,454 1,454 Loans, net 576,131 — — 591,450 591,450 Accrued interest receivable 1,647 — — 1,647 1,647 Forward loan sale commitments 72 — 72 — 72 Financial liabilities: Deposits $ 522,810 $ — $ — $ 523,479 $ 523,479 Short-term borrowings 21,250 — 21,250 — 21,250 Long-term debt 83,020 — 83,254 — 83,254 Subordinated debt 9,769 — — 9,506 9,506 Accrued interest payable 140 — — 140 140 Derivative loan commitments 17 — 17 — 17

EMPLOYEE STOCK OWNERSHIP PLAN

EMPLOYEE STOCK OWNERSHIP PLAN	3 Months Ended
	Mar. 31, 2017
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 for the purchase shares of the Company’s common stock on the closing date of the Company’s mutual to stock conversion in 2012. As of March 31, 2017, the ESOP held 186,337 7.50 15 3.25 Allocated 57,955 Committed to be allocated 3,209 Unallocated 125,173 186,337 The fair value of unallocated shares was $ 3.3 Total compensation expense recognized in connection with the ESOP for the three month periods ended March 31, 2017 and 2016 was $ 88 59

EQUITY INCENTIVE PLANS

EQUITY INCENTIVE PLANS	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 9 – EQUITY INCENTIVE PLANS Under the Company’s 2016 Equity Incentive Plan (the “2016 Equity Incentive Plan”), effective July 27, 2016, the Company may grant restricted stock awards to its employees and directors for up to 75,000 26,000 Under the Company’s 2012 Equity Incentive Plan (the “2012 Equity Incentive Plan”), the Company granted stock options to its employees and directors in the form of incentive stock options and non-qualified stock options totaling 231,894 10 20 Under the 2012 Equity Incentive Plan, the Company also granted stock awards to management, employees and directors. Awarded shares are held in reserve for each grantee by the Company’s transfer agent, and will be issued from previously authorized but unissued shares upon vesting. The fair value of the stock awards, based on the market price at the grant date, is recognized over the five-year vesting period. The Company’s 2012 Equity Incentive Plan was terminated upon approval of the 2016 Equity Incentive Plan. Stock Options Weighted Weighted Number of Average Contractual Aggregate Options Shares Exercise Price Term Intrinsic Value (In thousands) (In years) (In thousands) Outstanding at beginning of period 222 $ 16.02 6.26 Granted — — — Exercised — — — Forfeited — — — Outstanding at March 31, 2017 222 $ 16.02 5.92 $ 2,286 Options exercisable at March 31, 2017 158 $ 15.40 5.57 $ 1,661 For the three months ended March 31, 2017 and 2016, compensation expense applicable to the stock options was $ 53 10 9 Unrecognized compensation expense for non-vested stock options totaled $ 187 1.01 Stock Awards There was no activity in non-vested restricted stock awards under the 2016 Equity Incentive Plan or the 2012 Equity Incentive Plan for the three months ended March 31, 2017. For the three months ended March 31, 2017 and 2016, compensation expense applicable to the stock awards was $ 101 74 40 30 Unrecognized compensation expense for non-vested restricted stock totaled $ 788 2.95

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2017
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 2012 and 2016 Equity Incentive Plans, 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 March 31, 2017 2016 (In thousands, except per share data) Net income applicable to common stock $ 881 $ 732 Average number of common shares issued 2,485 2,459 Less: Average unallocated ESOP shares (127) (140) Average number of common shares outstanding used to calculate basic earnings per common share 2,358 2,319 Effect of dilutive stock options 84 21 Average number of common shares outstanding used to calculate diluted earnings per share 2,442 2,340 Earnings per common share: Basic $ 0.37 $ 0.32 Diluted $ 0.36 $ 0.31 All options were included in the computations of diluted earnings per share at March 31, 2017. Options for 43,000

LOAN POLICIES (Policies)

LOAN POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
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. 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 three and 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. The 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 include speculative construction loans primarily on residential properties for which payment is derived from the 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 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, the fair value of the loan 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 troubled debt restructuring 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. 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 initially classified as impaired. 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)	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss and related tax effects are as follows: March 31, December 31, 2017 2016 (In thousands) Unrealized holding losses on securities available for sale $ (137) $ (374) Tax effect 57 145 Net-of tax amount $ (80) $ (229)

SECURITIES AVAILABLE FOR SALE (

SECURITIES AVAILABLE FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2017
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: March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 3,756 $ 51 $ (41) $ 3,766 Government-sponsored enterprises 12,813 88 (109) 12,792 SBA and other asset-backed securities 12,092 107 (91) 12,108 State and municipal bonds 12,525 126 (122) 12,529 Government-sponsored enterprise obligations 8,000 — (153) 7,847 Corporate bonds 17,894 74 (67) 17,901 $ 67,080 $ 446 $ (583) $ 66,943 December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Residential mortgage-backed securities: Government National Mortgage Association $ 3,876 $ 55 $ (33) $ 3,898 Government-sponsored enterprises 13,134 73 (97) 13,110 SBA and other asset-backed securities 12,571 70 (140) 12,501 State and municipal bonds 9,533 93 (156) 9,470 Government-sponsored enterprise obligations 8,000 — (197) 7,803 Corporate bonds 17,908 55 (97) 17,866 $ 65,022 $ 346 $ (720) $ 64,648
Investments Classified by Contractual Maturity Date [Table Text Block]	The amortized cost and fair value of debt securities by contractual maturity at March 31, 2017 are as follows below. Expected maturities may differ from contractual maturities because the issuer, in certain instances, has the right to call or prepay obligations with or without call or prepayment penalties. Amortized Fair Cost Value (In thousands) Within 1 year $ 5,145 $ 5,094 After 1 year to 5 years 14,473 14,526 After 5 years to 10 years 17,865 17,754 After 10 years 936 903 38,419 38,277 Mortgage- and asset-backed securities 28,661 28,666 $ 67,080 $ 66,943
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) March 31, 2017 Residential mortgage-backed securities: Government National Mortgage Association $ (21) $ 850 $ (20) $ 1,162 Government-sponsored enterprises (82) 5,123 (27) 501 SBA and other asset-backed securities (75) 2,602 (16) 1,599 State and municipal bonds (121) 5,301 (1) 396 Government-sponsored enterprise obligations (153) 7,847 — — Corporate bonds (64) 5,875 (3) 994 $ (516) $ 27,598 $ (67) $ 4,652 December 31, 2016 Residential mortgage-backed securities: Government National Mortgage Association $ (11) $ 1,214 $ (22) $ 849 Government-sponsored enterprises (85) 6,771 (12) 540 SBA and other asset-backed securities (115) 6,109 (25) 1,608 State and municipal bonds (154) 5,257 (2) 396 Government-sponsored enterprise obligations (197) 7,803 — — Corporate bonds (93) 7,360 (4) 992 $ (655) $ 34,514 $ (65) $ 4,385

LOANS AND ALLOWANCE FOR LOAN 21

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
	Mar. 31, 2017
Notes and Loans Payable, Current [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	A summary of the ending balances of loans is as follows: March 31, December 31, 2017 2016 (In thousands) Real estate loans: Residential – fixed $ 23,362 $ 18,573 Residential – variable 258,347 249,486 Commercial 119,898 121,134 Construction 109,647 110,390 511,254 499,583 Commercial loans: Secured 48,632 49,126 Unsecured 23 221 48,655 49,347 Consumer loans: Home equity lines of credit 32,534 32,437 Other 201 216 32,735 32,653 Total loans 592,644 581,583 Less: Allowance for loan losses (5,421) (5,432) Net deferred origination fees (58) (20) Loans, net $ 587,165 $ 576,131
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 three months ended March 31, 2017 and 2016: Residential Commercial Home Other Real Estate Real Estate Construction Commercial Equity Consumer Unallocated Total (In thousands) Three Months Ended March 31, 2017 Allowance at December 31, 2016 $ 1,422 $ 1,145 $ 1,827 $ 703 $ 211 $ 3 $ 121 $ 5,432 Provision (credit) for loan losses 65 (11) (132) 7 — 11 60 — Loans charged off — — — — — (11) — (11) Allowance at March 31, 2017 $ 1,487 $ 1,134 $ 1,695 $ 710 $ 211 $ 3 $ 181 $ 5,421 Three Months Ended March 31, 2016 Allowance at December 31, 2015 $ 1,490 $ 1,025 $ 1,684 $ 509 $ 238 $ 2 $ 164 $ 5,112 Provision (credit) for loan losses 30 18 (97) 80 (17) — 48 62 Allowance at March 31, 2016 $ 1,520 $ 1,043 $ 1,587 $ 589 $ 221 $ 2 $ 212 $ 5,174
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Further information pertaining to the allowance for loan losses at March 31, 2017 and December 31, 2016 is as follows: Residential Commercial Home Other Real Estate Real Estate Construction Commercial Equity Consumer Unallocated Total (In thousands) March 31, 2017 Allowance related to impaired loans $ — $ — $ — $ — $ — $ — $ — $ — Allowance related to non-impaired loans 1,487 1,134 1,695 710 211 3 181 5,421 Total allowance $ 1,487 $ 1,134 $ 1,695 $ 710 $ 211 $ 3 $ 181 $ 5,421 Impaired loan balances $ 177 $ 572 $ — $ — $ — $ — $ — $ 749 Non-impaired loan balances 281,532 119,326 109,647 48,655 32,534 201 — 591,895 Total loans $ 281,709 $ 119,898 $ 109,647 $ 48,655 $ 32,534 $ 201 $ — $ 592,644 December 31, 2016 Allowance related to impaired loans $ — $ — $ — $ — $ — $ — $ — $ — Allowance related to non-impaired loans 1,422 1,145 1,827 703 211 3 121 5,432 Total allowance $ 1,422 $ 1,145 $ 1,827 $ 703 $ 211 $ 3 $ 121 $ 5,432 Impaired loan balances $ 179 591 $ — $ — $ — $ — $ — $ 770 Non-impaired loan balances 267,880 120,543 110,390 49,347 32,437 216 — 580,813 Total loans $ 268,059 $ 121,134 $ 110,390 $ 49,347 $ 32,437 $ 216 $ — $ 581,583
Past Due Financing Receivables [Table Text Block]	The following is a summary of past due and non-accrual loans at March 31, 2017 and December 31, 2016: Past Due 90 30-59 Past Due 90 Days or More Non- Days 60-89 Days Days or Total and Still accrual Past Due Past Due More Past Due Accruing Loans (In thousands) March 31, 2017 Commercial real estate $ — $ — $ 572 $ 572 $ — $ 572 Home equity lines of credit 142 — — 142 — — Total $ 142 $ — $ 572 $ 714 $ — $ 572 December 31, 2016 Commercial real estate $ — $ 979 $ 591 $ 1,570 $ — $ 591 Home equity lines of credit — 208 — 208 — — Total $ — $ 1,187 $ 591 $ 1,778 $ — $ 591
Impaired Financing Receivables [Table Text Block]	The following is a summary of impaired loans at March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 Unpaid Unpaid Recorded Principal Recorded Principal Investment Balance Investment Balance (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 177 $ 194 $ 179 $ 196 Commercial real estate 572 626 591 646 Total impaired loans $ 749 $ 820 $ 770 $ 842
Impaired Financing Receivables By Class Of Loans [Table Text Block]	Additional information pertaining to impaired loans follows: Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) Residential real estate $ 178 $ 2 $ — $ 612 $ 6 $ 6 Commercial real estate 583 — — 639 — — Commercial — — — 9 — — Home equity lines of credit — — — 34 — — Total $ 761 $ 2 $ — $ 1,294 $ 6 $ 6
Financing Receivable Credit Quality Indicators [Table Text Block]	The following table presents the Company’s loans by risk rating: March 31, 2017 December 31, 2016 Commercial Commercial Real Estate Construction Commercial Total Real Estate Construction Commercial Total (In thousands) Loans rated 1 -4 $ 115,023 $ 109,647 $ 47,512 $ 272,182 $ 115,110 $ 110,390 $ 46,820 $ 272,320 Loans rated 5 4,303 — 332 4,635 5,433 — 1,569 7,002 Loans rated 6 — — 811 811 — — 958 958 Loans rated 7 572 — — 572 591 — — 591 Total $ 119,898 $ 109,647 $ 48,655 $ 278,200 $ 121,134 $ 110,390 $ 49,347 $ 280,871

FAIR VALUES OF FINANCIAL INST22

FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 are summarized below. Total Level 1 Level 2 Level 3 Fair Value (In thousands) March 31, 2017 Assets Securities available for sale $ — $ 66,943 $ — $ 66,943 Total assets $ — $ 66,943 $ — $ 66,943 December 31, 2016 Assets Securities available for sale $ — $ 64,648 $ — $ 64,648 Forward loan sale commitments — 72 — 72 Total assets $ — $ 64,720 $ — $ 64,720 Liabilities Derivative loan commitments $ — $ 17 $ — $ 17
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. March 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (In thousands) Loans held for sale $ — $ — $ — $ — $ — $ 1,454 $ — $ — $ — $ — $ — $ 1,454
Gain Loss On Assets And Liabilities Measured At Fair Value On Nonrecurring Basis [Table Text Block]	The following table presents the total losses on loans held for sale for the three month periods ended March 31, 2017 and 2016. Three Months Ended March 31, 2017 2016 (In thousands) Loans held for sale $ — $ (51)
Fair Value, by Balance Sheet Grouping [Table Text Block]	Accordingly, the aggregate fair value amounts presented herein may not necessarily represent the underlying fair value of the Company. Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) March 31, 2017 Financial assets: Cash and cash equivalents $ 26,237 $ 26,237 $ — $ — $ 26,237 Certificate of deposit 100 100 — — 100 Securities available for sale 66,943 — 66,943 — 66,943 FHLB stock 5,937 — — 5,937 5,937 Loans, net 587,165 — — 601,925 601,925 Accrued interest receivable 1,606 — — 1,606 1,606 Financial liabilities: Deposits $ 526,066 $ — $ — $ 527,100 $ 527,100 Short-term borrowings 12,250 — 12,250 — 12,250 Long-term debt 96,934 — 97,195 — 97,195 Subordinated debt 9,778 — — 9,521 9,521 Accrued interest payable 164 — — 164 164 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) December 31, 2016 Financial assets: Cash and cash equivalents $ 28,425 $ 28,425 $ — $ — $ 28,425 Certificate of deposit 100 100 — — 100 Securities available for sale 64,648 — 64,648 — 64,648 FHLB stock 5,758 — — 5,758 5,758 Loans held for sale 1,454 — — 1,454 1,454 Loans, net 576,131 — — 591,450 591,450 Accrued interest receivable 1,647 — — 1,647 1,647 Forward loan sale commitments 72 — 72 — 72 Financial liabilities: Deposits $ 522,810 $ — $ — $ 523,479 $ 523,479 Short-term borrowings 21,250 — 21,250 — 21,250 Long-term debt 83,020 — 83,254 — 83,254 Subordinated debt 9,769 — — 9,506 9,506 Accrued interest payable 140 — — 140 140 Derivative loan commitments 17 — 17 — 17

EMPLOYEE STOCK OWNERSHIP PLAN (

EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 include the following: Allocated 57,955 Committed to be allocated 3,209 Unallocated 125,173 186,337

EQUITY INCENTIVE PLANS (Tables)

EQUITY INCENTIVE PLANS (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of option activity under the 2012 Equity Incentive Plan for the three months ended March 31, 2017 is presented below: Weighted Weighted Number of Average Contractual Aggregate Options Shares Exercise Price Term Intrinsic Value (In thousands) (In years) (In thousands) Outstanding at beginning of period 222 $ 16.02 6.26 Granted — — — Exercised — — — Forfeited — — — Outstanding at March 31, 2017 222 $ 16.02 5.92 $ 2,286 Options exercisable at March 31, 2017 158 $ 15.40 5.57 $ 1,661

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 (In thousands, except per share data) Net income applicable to common stock $ 881 $ 732 Average number of common shares issued 2,485 2,459 Less: Average unallocated ESOP shares (127) (140) Average number of common shares outstanding used to calculate basic earnings per common share 2,358 2,319 Effect of dilutive stock options 84 21 Average number of common shares outstanding used to calculate diluted earnings per share 2,442 2,340 Earnings per common share: Basic $ 0.37 $ 0.32 Diluted $ 0.36 $ 0.31

LOAN POLICIES (Details Textual)

LOAN POLICIES (Details Textual)	3 Months Ended
	Mar. 31, 2017
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	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized holding losses on securities available for sale	$ (137)	$ (374)
Tax effect	57	145
Net-of tax amount	$ (80)	$ (229)

SECURITIES AVAILABLE FOR SALE28

SECURITIES AVAILABLE FOR SALE (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 67,080	$ 65,022
Gross Unrealized Gains	446	346
Gross Unrealized Losses	(583)	(720)
Fair Value	66,943	64,648
SBA and other asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12,092	12,571
Gross Unrealized Gains	107	70
Gross Unrealized Losses	(91)	(140)
Fair Value	12,108	12,501
State and municipal bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12,525	9,533
Gross Unrealized Gains	126	93
Gross Unrealized Losses	(122)	(156)
Fair Value	12,529	9,470
Government-sponsored enterprise obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	8,000	8,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(153)	(197)
Fair Value	7,847	7,803
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	17,894	17,908
Gross Unrealized Gains	74	55
Gross Unrealized Losses	(67)	(97)
Fair Value	17,901	17,866
Residential mortgage-backed securities [Member] | Government National Mortgage Association [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,756	3,876
Gross Unrealized Gains	51	55
Gross Unrealized Losses	(41)	(33)
Fair Value	3,766	3,898
Residential mortgage-backed securities [Member] | Government-sponsored enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12,813	13,134
Gross Unrealized Gains	88	73
Gross Unrealized Losses	(109)	(97)
Fair Value	$ 12,792	$ 13,110

SECURITIES AVAILABLE FOR SALE29

SECURITIES AVAILABLE FOR SALE (Details 1) $ in Thousands	Mar. 31, 2017USD ($)
Available-for-sale Securities, Debt Maturities, Amortized Cost
Within 1 year	$ 5,145
After 1 year to 5 years	14,473
After 5 years to 10 years	17,865
After 10 years	936
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis, Total	38,419
Mortgage- and asset-backed securities	28,661
Available-for-sale Debt Securities, Amortized Cost Basis, Total	67,080
Available-for-sale Securities, Debt Maturities, Fair Value
Within 1 year	5,094
After 1 year to 5 years	14,526
After 5 years to 10 years	17,754
After 10 years	903
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Fair Value Total	38,277
Mortgage- and asset-backed securities	28,666
Available-for-sale Securities, Debt Securities, Fair Value Total	$ 66,943

SECURITIES AVAILABLE FOR SALE30

SECURITIES AVAILABLE FOR SALE (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	$ (516)	$ (655)
Less Than Twelve Months Fair Value	27,598	34,514
Over Twelve Months Gross Unrealized Losses	(67)	(65)
Over Twelve Months Fair Value	4,652	4,385
SBA and other asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(75)	(115)
Less Than Twelve Months Fair Value	2,602	6,109
Over Twelve Months Gross Unrealized Losses	(16)	(25)
Over Twelve Months Fair Value	1,599	1,608
State and municipal bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(121)	(154)
Less Than Twelve Months Fair Value	5,301	5,257
Over Twelve Months Gross Unrealized Losses	(1)	(2)
Over Twelve Months Fair Value	396	396
Government-sponsored enterprise obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(153)	(197)
Less Than Twelve Months Fair Value	7,847	7,803
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	(64)	(93)
Less Than Twelve Months Fair Value	5,875	7,360
Over Twelve Months Gross Unrealized Losses	(3)	(4)
Over Twelve Months Fair Value	994	992
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	(21)	(11)
Less Than Twelve Months Fair Value	850	1,214
Over Twelve Months Gross Unrealized Losses	(20)	(22)
Over Twelve Months Fair Value	1,162	849
Residential mortgage-backed securities [Member] | Government-sponsored enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than Twelve Months Gross Unrealized Losses	(82)	(85)
Less Than Twelve Months Fair Value	5,123	6,771
Over Twelve Months Gross Unrealized Losses	(27)	(12)
Over Twelve Months Fair Value	$ 501	$ 540

SECURITIES AVAILABLE FOR SALE31

SECURITIES AVAILABLE FOR SALE (Details Textual)	Mar. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Unrealized Losses Debt Securities Aggregate Depreciation Percentage	1.80%

LOANS AND ALLOWANCE FOR LOAN 32

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Total loans	$ 592,644	$ 581,583
Less: Allowance for loan losses	(5,421)	(5,432)
Net deferred origination fees	(58)	(20)
Loans, net	587,165	576,131
Commercial loan [Member]
Total loans	48,655	49,347
Consumer loan [Member]
Total loans	32,735	32,653
Residential - fixed [Member]
Total loans	23,362	18,573
Residential - variable [Member]
Total loans	258,347	249,486
Commercial Real Estate [Member]
Total loans	119,898	121,134
Construction [Member]
Total loans	109,647	110,390
Secured [Member]
Total loans	48,632	49,126
Unsecured [Member]
Total loans	23	221
Home equity lines of credit [Member]
Total loans	32,534	32,437
Other Consumer [Member]
Total loans	201	216
Real estate loans [Member]
Total loans	$ 511,254	$ 499,583

LOANS AND ALLOWANCE FOR LOAN 33

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allowance Beginning Balance	$ 5,432	$ 5,112
Provision (credit) for loan losses	0	62
Loans charged off	(11)
Allowance Ending Balance	5,421	5,174
Commercial [Member]
Allowance Beginning Balance	703	509
Provision (credit) for loan losses	7	80
Loans charged off	0
Allowance Ending Balance	710	589
Residential Real Estate [Member]
Allowance Beginning Balance	1,422	1,490
Provision (credit) for loan losses	65	30
Loans charged off	0
Allowance Ending Balance	1,487	1,520
Commercial Real Estate [Member]
Allowance Beginning Balance	1,145	1,025
Provision (credit) for loan losses	(11)	18
Loans charged off	0
Allowance Ending Balance	1,134	1,043
Construction [Member]
Allowance Beginning Balance	1,827	1,684
Provision (credit) for loan losses	(132)	(97)
Loans charged off	0
Allowance Ending Balance	1,695	1,587
Home equity lines of credit [Member]
Allowance Beginning Balance	211	238
Provision (credit) for loan losses	0	(17)
Loans charged off	0
Allowance Ending Balance	211	221
Other Consumer [Member]
Allowance Beginning Balance	3	2
Provision (credit) for loan losses	11	0
Loans charged off	(11)
Allowance Ending Balance	3	2
Unallocated [Member]
Allowance Beginning Balance	121	164
Provision (credit) for loan losses	60	48
Loans charged off	0
Allowance Ending Balance	$ 181	$ 212

LOANS AND ALLOWANCE FOR LOAN 34

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Allowance related to impaired loans	$ 0	$ 0
Allowance related to non-impaired loans	5,421	5,432
Total allowance	5,421	5,432	$ 5,174	$ 5,112
Impaired loan balances	749	770
Non-impaired loan balances	591,895	580,813
Total loans	592,644	581,583
Commercial [Member]
Allowance related to impaired loans	0	0
Allowance related to non-impaired loans	710	703
Total allowance	710	703	589	509
Impaired loan balances	0	0
Non-impaired loan balances	48,655	49,347
Total loans	48,655	49,347
Residential Real Estate [Member]
Allowance related to impaired loans	0	0
Allowance related to non-impaired loans	1,487	1,422
Total allowance	1,487	1,422	1,520	1,490
Impaired loan balances	177	179
Non-impaired loan balances	281,532	267,880
Total loans	281,709	268,059
Commercial Real Estate [Member]
Allowance related to impaired loans	0	0
Allowance related to non-impaired loans	1,134	1,145
Total allowance	1,134	1,145	1,043	1,025
Impaired loan balances	572	591
Non-impaired loan balances	119,326	120,543
Total loans	119,898	121,134
Construction [Member]
Allowance related to impaired loans	0	0
Allowance related to non-impaired loans	1,695	1,827
Total allowance	1,695	1,827	1,587	1,684
Impaired loan balances	0	0
Non-impaired loan balances	109,647	110,390
Total loans	109,647	110,390
Home equity lines of credit [Member]
Allowance related to impaired loans	0	0
Allowance related to non-impaired loans	211	211
Total allowance	211	211	221	238
Impaired loan balances	0	0
Non-impaired loan balances	32,534	32,437
Total loans	32,534	32,437
Other Consumer [Member]
Allowance related to impaired loans	0	0
Allowance related to non-impaired loans	3	3
Total allowance	3	3	2	2
Impaired loan balances	0	0
Non-impaired loan balances	201	216
Total loans	201	216
Unallocated [Member]
Allowance related to impaired loans	0	0
Allowance related to non-impaired loans	181	121
Total allowance	181	121	$ 212	$ 164
Impaired loan balances	0	0
Non-impaired loan balances	0	0
Total loans	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN 35

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Total Past Due	$ 714	$ 1,778
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	572	591
Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	142	0
Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	1,187
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due	572	591
Commercial Real Estate [Member]
Total Past Due	572	1,570
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	572	591
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	0	0
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	979
Commercial Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due	572	591
Home equity lines of credit [Member]
Total Past Due	142	208
Past Due 90 Days or More and Still Accruing	0	0
Non-accrual Loans	0	0
Home equity lines of credit [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	142	0
Home equity lines of credit [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	0	208
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 36

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Total impaired loans Recorded Investment	$ 749	$ 770
Total impaired loans Unpaid Principal Balance	820	842
Residential Real Estate [Member]
Impaired loans Recorded Investment, Without a Valuation Allowance	177	179
Impaired loans Unpaid Principal Balance, Without a Valuation Allowance	194	196
Commercial Real Estate [Member]
Impaired loans Recorded Investment, Without a Valuation Allowance	572	591
Impaired loans Unpaid Principal Balance, Without a Valuation Allowance	$ 626	$ 646

LOANS AND ALLOWANCE FOR LOAN 37

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Average Recorded Investment	$ 761	$ 1,294
Interest Income Recognized	2	6
Interest Income Recognized on Cash Basis	0	6
Commercial [Member]
Average Recorded Investment	0	9
Interest Income Recognized	0	0
Interest Income Recognized on Cash Basis	0	0
Residential real estate [Member]
Average Recorded Investment	178	612
Interest Income Recognized	2	6
Interest Income Recognized on Cash Basis	0	6
Commercial real estate [Member]
Average Recorded Investment	583	639
Interest Income Recognized	0	0
Interest Income Recognized on Cash Basis	0	0
Home equity lines of credit [Member]
Average Recorded Investment	0	34
Interest Income Recognized	0	0
Interest Income Recognized on Cash Basis	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN 38

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 6) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Loans	$ 278,200	$ 280,871
Loans rated 1-4 [Member]
Loans	272,182	272,320
Loans rated 5 [Member]
Loans	4,635	7,002
Loans rated 6 [Member]
Loans	811	958
Loans rated 7 [Member]
Loans	572	591
Commercial Real Estate [Member]
Loans	119,898	121,134
Commercial Real Estate [Member] | Loans rated 1-4 [Member]
Loans	115,023	115,110
Commercial Real Estate [Member] | Loans rated 5 [Member]
Loans	4,303	5,433
Commercial Real Estate [Member] | Loans rated 6 [Member]
Loans	0	0
Commercial Real Estate [Member] | Loans rated 7 [Member]
Loans	572	591
Construction [Member]
Loans	109,647	110,390
Construction [Member] | Loans rated 1-4 [Member]
Loans	109,647	110,390
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	48,655	49,347
Commercial [Member] | Loans rated 1-4 [Member]
Loans	47,512	46,820
Commercial [Member] | Loans rated 5 [Member]
Loans	332	1,569
Commercial [Member] | Loans rated 6 [Member]
Loans	811	958
Commercial [Member] | Loans rated 7 [Member]
Loans	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN 39

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Loans and Leases Receivable, Gross	$ 592,644	$ 581,583
Loan rated 9 [Member] | Maximum [Member] | Commercial Loan [Member]
Loans and Leases Receivable, Gross	$ 25
Credit Rating Eleven [Member] | Maximum [Member]
Period After Credit Rating Assignment	60 days

FAIR VALUES OF FINANCIAL INST40

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 66,943	$ 64,720
Derivative loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		17
Forward loan sale commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		72
Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	66,943	64,648
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	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] | Forward loan sale 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 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	66,943	64,720
Fair Value, Inputs, Level 2 [Member] | Derivative loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		17
Fair Value, Inputs, Level 2 [Member] | Forward loan sale commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities		72
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	66,943	64,648
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	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] | Forward loan sale 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 VALUES OF FINANCIAL INST41

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Loans held for sale		$ 1,454
Fair Value, Inputs, Level 1 [Member]
Loans held for sale	$ 0	0
Assets, Fair Value Disclosure, Nonrecurring	0	0
Fair Value, Inputs, Level 2 [Member]
Loans held for sale	0	0
Assets, Fair Value Disclosure, Nonrecurring	0	0
Fair Value, Inputs, Level 3 [Member]
Loans held for sale	0	1,454
Assets, Fair Value Disclosure, Nonrecurring	$ 0	$ 1,454

FAIR VALUES OF FINANCIAL INST42

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Loans Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Non Recurring Basis [Line Items]
Total gain (Loss)	$ 0	$ (51)

FAIR VALUES OF FINANCIAL INST43

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Financial assets:
Cash and cash equivalents, Carrying Amount	$ 26,237	$ 28,425	$ 18,377	$ 28,178
Certificate of deposit, Carrying Amount	100	100
Securities available for sale, Carrying Amount	66,943	64,648
FHLB stock, Carrying Amount	5,937	5,758
Loans held for sale, Carrying Amount	0	1,454
Loans, net, Carrying Amount	587,165	576,131
Accrued interest receivable, Carrying Amount	1,606	1,647
Forward loan sale commitments, Carrying Amount		72
Cash and cash equivalents, Fair Value	26,237	28,425
Certificates of deposit, Fair Value	100	100
Securities available for sale, Fair Value	66,943	64,648
FHLB stock, Fair Value	5,937	5,758
Loans held for sale, Fair Value		1,454
Loans, net, Fair Value	601,925	591,450
Accrued interest receivable, Fair Value	1,606	1,647
Forward loan sale commitments, Fair Value		72
Financial liabilities:
Deposits, Carrying Amount	526,066	522,810
Short-term borrowings, Carrying Amount	12,250	21,250
Long-term debt, Carrying Amount	96,934	83,020
Subordinated debt, Carrying Amount	9,778	9,769
Accrued interest payable, Carrying Amount	164	140
Derivative loan commitments, Carrying Amount		17
Deposits, Fair Value	527,100	523,479
Short-term borrowings, Fair Value	12,250	21,250
Long-term debt, Fair Value	97,195	83,254
Subordinated debt, Fair Value	9,521	9,506
Accrued interest payable, Fair Value	164	140
Derivative loan commitments, Fair Value		17
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Securities available for sale, Carrying Amount	0	0
Cash and cash equivalents, Fair Value	26,237	28,425
Certificates of deposit, Fair Value	100	100
Securities available for sale, Fair Value	0	0
FHLB stock, Fair Value	0	0
Loans held for sale, Fair Value	0	0
Loans, net, Fair Value	0	0
Accrued interest receivable, Fair Value	0	0
Forward loan sale commitments, Fair Value		0
Financial liabilities:
Derivative loan commitments, Carrying Amount		0
Deposits, Fair Value	0	0
Short-term borrowings, Fair Value	0	0
Long-term debt, Fair Value	0	0
Subordinated debt, Fair Value	0	0
Accrued interest payable, Fair Value	0	0
Derivative loan commitments, Fair Value		0
Fair Value, Inputs, Level 2 [Member]
Financial assets:
Securities available for sale, Carrying Amount	66,943	64,648
Cash and cash equivalents, Fair Value	0	0
Certificates of deposit, Fair Value	0	0
Securities available for sale, Fair Value	66,943	64,648
FHLB stock, Fair Value	0	0
Loans held for sale, Fair Value	0	0
Loans, net, Fair Value	0	0
Accrued interest receivable, Fair Value	0	0
Forward loan sale commitments, Fair Value		72
Financial liabilities:
Derivative loan commitments, Carrying Amount		17
Deposits, Fair Value	0	0
Short-term borrowings, Fair Value	12,250	21,250
Long-term debt, Fair Value	97,195	83,254
Subordinated debt, Fair Value	0	0
Accrued interest payable, Fair Value	0	0
Derivative loan commitments, Fair Value		17
Fair Value, Inputs, Level 3 [Member]
Financial assets:
Securities available for sale, Carrying Amount	0	0
Cash and cash equivalents, Fair Value	0	0
Certificates of deposit, Fair Value	0	0
Securities available for sale, Fair Value	0	0
FHLB stock, Fair Value	5,937	5,758
Loans held for sale, Fair Value	0	1,454
Loans, net, Fair Value	601,925	591,450
Accrued interest receivable, Fair Value	1,606	1,647
Forward loan sale commitments, Fair Value		0
Financial liabilities:
Derivative loan commitments, Carrying Amount		0
Deposits, Fair Value	527,100	523,479
Short-term borrowings, Fair Value	0	0
Long-term debt, Fair Value	0	0
Subordinated debt, Fair Value	9,521	9,506
Accrued interest payable, Fair Value	$ 164	140
Derivative loan commitments, Fair Value		$ 0

EMPLOYEE STOCK OWNERSHIP PLAN44

EMPLOYEE STOCK OWNERSHIP PLAN (Details) - shares	Mar. 31, 2017	Mar. 31, 2016
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Allocated	57,955
Committed to be allocated	3,209	3,210
Unallocated	125,173
Employee Stock Ownership Plan (ESOP), Shares in ESOP	186,337

EMPLOYEE STOCK OWNERSHIP PLAN45

EMPLOYEE STOCK OWNERSHIP PLAN (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Employee Stock Ownership Plan ESOP Percent Of Shares Authorized To Be Purchased	7.50%
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	$ 3,300
Employee Stock Ownership Plan (ESOP), Shares in ESOP	186,337
Employee Stock Ownership Plan (ESOP), Compensation Expense	$ 88	$ 59

EQUITY INCENTIVE PLANS (Details

EQUITY INCENTIVE PLANS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Options
Outstanding at beginning of period	222
Granted	0
Exercised	0
Forfeited	0
Outstanding at end of period	222	222
Options exercisable at end of period	158
Weighted Average Exercise Price
Outstanding at beginning of period	$ 16.02
Granted	0
Exercised	0
Forfeited	0
Outstanding at end of period	16.02	$ 16.02
Options exercisable at end of period	$ 15.40
Weighted Average Remaining Contractual Term
Outstanding at beginning of period	5 years 11 months 1 day	6 years 3 months 4 days
Options exercisable at end of period	5 years 6 months 25 days
Aggregate intrinsic value
Aggregate intrinsic value	$ 2,286
Options exercisable at end of period	$ 1,661

EQUITY INCENTIVE PLANS (Detai47

EQUITY INCENTIVE PLANS (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Oct. 01, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for non-vested stock options	$ 9
Unrecognized compensation expense, recognition period	1 year 4 days
Compensation expense for stock award plan	$ 101	$ 74
Recognize tax Benefit	40	30
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for non-vested stock options	$ 788
Unrecognized compensation expense, recognition period	2 years 11 months 12 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognize tax Benefit	$ 9	9
Share base compensation expenses applicable to stock option plan	$ 53	$ 10
2012 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity Incentive Plan, options granted	231,894
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Equity awards, vesting period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	20.00%
2016 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity Incentive Plan, options granted	75,000
2016 Equity Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			26,000

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net income applicable to common stock	$ 881	$ 732
Average number of common shares issued	2,485,000	2,459,000
Less: Average unallocated ESOP shares	(127,000)	(140,000)
Average number of common shares outstanding used to calculate basic earnings per common share	2,358,074	2,318,937
Effect of dilutive stock options	84,000	21,000
Average number of common shares outstanding used to calculate diluted earnings per common share	2,441,993	2,339,800
Earnings per common share:
Basic	$ 0.37	$ 0.32
Diluted	$ 0.36	$ 0.31

EARNINGS PER COMMON SHARE (De49

EARNINGS PER COMMON SHARE (Details Textual)	3 Months Ended
	Mar. 31, 2016shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	43,000