Georgetown 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	May 08, 2017
Document and Entity Information
Entity Registrant Name	Georgetown Bancorp, Inc.
Entity Central Index Key	1,542,299
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,836,250
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and due from banks	$ 2,452	$ 2,945
Short-term investments	5,701	3,184
Total cash and cash equivalents	8,153	6,129
Securities available for sale, at fair value	18,847	19,772
Securities held to maturity, at amortized cost (fair value of $2,453 at March 31, 2017 and $2,490 at December 31, 2016)	2,462	2,503
Federal Home Loan Bank stock, at cost	2,751	2,341
Bankers Bank Northeast stock, at cost	60	60
Loans held for sale		271
Loans, net of allowance for loan losses of $2,642 at March 31, 2017 and $2,605 at December 31, 2016	279,567	277,371
Premises and equipment, net	4,035	4,133
Accrued interest receivable	826	816
Bank-owned life insurance	3,231	3,206
Other assets	1,930	2,030
Total assets	321,862	318,632
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits	240,530	240,508
Short-term Federal Home Loan Bank advances	21,000	17,250
Long-term Federal Home Loan Bank advances	23,600	24,600
Mortgagors' escrow accounts	1,973	1,633
Accrued expenses and other liabilities	2,356	2,485
Total liabilities	289,459	286,476
Stockholders' equity:
Preferred stock, $0.01 par value per share: 50,000,000 shares authorized at March 31, 2017 and December 31, 2016; none outstanding
Common stock, $0.01 par value per share: 100,000,000 shares authorized, 1,836,250 shares issued at March 31, 2017 and 1,840,920 shares issued at December 31, 2016	18	18
Additional paid-in capital	19,809	19,871
Retained earnings	13,825	13,635
Accumulated other comprehensive loss	(5)	(41)
Unearned compensation - ESOP (70,595 shares unallocated at March 31, 2017 and 72,405 shares unallocated at December 31, 2016)	(733)	(753)
Unearned compensation - Restricted stock (30,076 shares non-vested at March 31, 2017 and 46,449 shares non-vested at December 31, 2016)	(511)	(574)
Total stockholders' equity	32,403	32,156
Total liabilities and stockholders' equity	$ 321,862	$ 318,632

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
Securities held to maturity, fair value (in dollars)	$ 2,453	$ 2,490
Loans, allowance for loan losses (in dollars)	$ 2,642	$ 2,605
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	1,836,250	1,840,920
Unearned compensation - ESOP shares unallocated	70,595	72,405
Unearned compensation - Restricted stock shares non-vested	30,076	46,449

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Interest and dividend income:
Loans, including fees	$ 3,246	$ 3,003
Securities	142	154
Short-term investments	7	6
Total interest and dividend income	3,395	3,163
Interest expense:
Deposits	494	411
Short-term Federal Home Loan Bank advances	47	20
Long-term Federal Home Loan Bank advances	121	143
Total interest expense	662	574
Net interest and dividend income	2,733	2,589
Provision for loan losses	39	74
Net interest and dividend income, after provision for loan losses	2,694	2,515
Non-interest income:
Customer service fees	165	184
Mortgage banking income, net	15	9
Gain on sale of SBA loans		15
Income from bank-owned life insurance	25	26
Other	11	8
Total non-interest income	216	242
Non-interest expenses:
Salaries and employee benefits	1,426	1,411
Occupancy and equipment expenses	254	265
Data processing expenses	172	214
Professional fees	204	291
Merger related expenses	96
Advertising expenses	3	87
FDIC insurance	53	44
ATM service charge expenses	34	32
Other general and administrative expenses	240	293
Total non-interest expenses	2,482	2,637
Income before income taxes	428	120
Income tax provision	150	40
Net income	$ 278	$ 80
Weighted-average number of common shares outstanding:
Basic (in shares)	1,767,231	1,754,525
Diluted (in shares)	1,805,521	1,759,031
Net income per share:
Basic (in dollars per share)	$ 0.16	$ 0.05
Diluted (in dollars per share)	0.15	0.05
Dividends paid per share (in dollars per share)	$ 0.0500	$ 0.0475

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 278	$ 80
Net unrealized gain on securities available for sale	58	238
Income tax provision	(22)	(84)
Other comprehensive income, net of tax	36	154
Comprehensive income	$ 314	$ 234

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Unearned Compensation-ESOP	Unearned Compensation-Restricted Stock	Total
Balance at Dec. 31, 2015	$ 18	$ 19,402	$ 13,788	$ 46	$ (835)	$ (511)	$ 31,908
Increase (Decrease) in Stockholders' Equity
Net income			80				80
Other comprehensive loss				154			154
Cash dividends paid			(83)				(83)
Common stock held by ESOP allocated or committed to be allocated		15			20		35
Restricted stock granted in connection with equity incentive plan		320				(320)
Purchased stock related to vested restricted stock		(74)					(74)
Share based compensation - options		27					27
Share based compensation - restricted stock						59	59
Balance at Mar. 31, 2016	18	19,690	13,785	200	(815)	(772)	32,106
Balance at Dec. 31, 2016	18	19,871	13,635	(41)	(753)	(574)	32,156
Increase (Decrease) in Stockholders' Equity
Net income			278				278
Other comprehensive loss				36			36
Cash dividends paid			(88)				(88)
Common stock held by ESOP allocated or committed to be allocated		27			20		47
Purchased stock related to vested restricted stock		(120)					(120)
Share based compensation - options		31					31
Share based compensation - restricted stock						63	63
Balance at Mar. 31, 2017	$ 18	$ 19,809	$ 13,825	$ (5)	$ (733)	$ (511)	$ 32,403

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Dividends paid per share (in dollars per share)	$ 0.0500	$ 0.0475
Common stock held by ESOP allocated or committed to be allocated (in shares)	1,810	1,810
Restricted stock granted in connection with equity incentive plan (in shares)		16,500
Purchased stock related to vested restricted stock (in shares)	4,670	3,818

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	$ 278	$ 80
Adjustments to reconcile net income to net cash provided by (used by) operating activities:
Provision for loan losses	39	74
Amortization of securities, net	41	31
Net change in deferred loan fees and costs	(56)	(10)
Depreciation and amortization expense	106	98
(Increase) decrease in accrued interest receivable	(10)	29
Income from bank-owned life insurance	(25)	(26)
Stock-based compensation expense	141	121
Excess tax benefit on share-based compensation	(42)
Gain on sale of loans	(4)	(15)
Loans originated for sale		(210)
Proceeds from sales of loans	275	225
Net change in other assets and liabilities	(9)	(891)
Net cash provided by (used by) operating activities	734	(494)
Activity in securities available for sale:
Maturities, prepayments and calls	947	577
Proceeds from sale of securities	0	0
Maturities, prepayments and calls	36	48
Purchases		(2,494)
Purchase of Federal Home Loan Bank stock	(410)
Redemption of Federal Home Loan Bank stock		511
Loan originations, net	(456)	(5,451)
Principal balance of loans purchased	(1,723)	(3,131)
Purchase of premises and equipment	(8)	(358)
Net cash used by investing activities	(1,614)	(10,298)
Cash flows from financing activities:
Net change in deposits	22	28,089
Net change in Federal Home Loan Bank advances with maturities of three months or less	4,250	(15,250)
Repayments of Federal Home Loan Bank advances with maturities greater than three months	(1,500)	(1,000)
Net change in mortgagors' escrow accounts	340	390
Repurchase of common stock	(120)	(74)
Cash dividends paid on common stock	(88)	(83)
Net cash provided by financing activities	2,904	12,072
Net change in cash and cash equivalents	2,024	1,280
Cash and cash equivalents at beginning of period	6,129	7,758
Cash and cash equivalents at end of period	8,153	9,038
Supplementary information:
Interest paid on deposit accounts	495	411
Interest paid on advances	163	167
Income taxes paid	$ 176	111
Change in due to broker for investment purchases		$ (2,505)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2017
Basis of Presentation
Basis of Presentation	(1) The accompanying unaudited financial statements of Georgetown Bancorp, Inc., a Maryland corporation, (the “Company”) were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for Form 10-Q and with Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with GAAP. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three-month period ended March 31, 2017 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. These financial statements should be read in conjunction with the financial statements and notes thereto included in the December 31, 2016 Consolidated Financial Statements presented in the Annual Report on Form 10-K of the Company filed with the Securities and Exchange Commission on March 30, 2017. The consolidated financial statements include the accounts of Georgetown Bank (the “Bank”) and its wholly owned subsidiary, Georgetown Securities Corporation. All significant inter-company balances and transactions have been eliminated in consolidation. These consolidated financial statements consider events that occurred through the date the consolidated financial statements were issued. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates and such differences could be material to the financial statements.

CORPORATE STRUCTURE

CORPORATE STRUCTURE	3 Months Ended
	Mar. 31, 2017
Corporate Structure
Corporate Structure	(2) The Company completed a “second step” conversion to a fully public stock holding company on July 11, 2012. The Bank is a wholly owned subsidiary of the Company. Georgetown Securities Corporation, established in 1995 as a Massachusetts securities corporation for the purpose of buying, selling and holding securities on its own behalf, is a wholly owned subsidiary of the Bank. On October 5, 2016, Salem Five Bancorp, a Massachusetts mutual holding company, Bright Star, Inc., a Maryland corporation and wholly-owned subsidiary of Salem Five Bancorp, and the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Bright Star, Inc. will merge with and into the Company. Shareholders of the Company will receive $26.00 in cash in exchange for each share of Company common stock they own. Salem Five Bancorp has received all regulatory approvals to allow it to proceed with the acquisition of the Company. The transaction is expected to be completed by May 23, 2017. Immediately following this, the Bank will merge with and into Salem Five Bancorp’s wholly-owned subsidiary, Salem Five Cents Savings Bank (“Salem Five Bank”). Immediately following the merger of the two banks, the Company shall dissolve and liquidate into Salem Five Bancorp.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2017
Earnings Per Common Share
Earnings Per Common Share	(3) The Company has adopted the Earnings Per Share (“EPS”) guidance included in Accounting Standards Codification (“ASC”) 260-10. As presented below, basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For purposes of computing diluted EPS, the treasury stock method is used. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. Earnings per common share have been computed based on the following: Three Months Ended March 31, 2017 2016 (In thousands, except share and per share data) Net income available to common stockholders $ 278 $ 80 Basic common shares: Weighted average shares outstanding 1,799,280 1,788,005 Less: Weighted average unallocated ESOP shares (71,769) (79,009) Add: Weighted average unvested restricted stock shares with non-forfeitable dividend rights 39,720 45,529 Basic weighted average common shares outstanding 1,767,231 1,754,525 Dilutive potential common shares 38,290 4,506 Diluted weighted average common shares outstanding 1,805,521 1,759,031 Basic earnings per share $ 0.16 $ 0.05 Diluted earnings per share $ 0.15 $ 0.05 Options to purchase 122,775 shares, representing all outstanding options, were included in the computation of diluted earnings per share for the three months ended March 31, 2017 and 2016.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2017
RECENT ACCOUNTING PRONOUNCEMENTS
Recent Accounting Pronouncements	(4) In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in this ASU address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and makes targeted improvements to GAAP as follows: 1. 2. 3. 4. 5. 6. 7. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption of item 5 above is permitted as of the fiscal years or interim periods for which financial statements have not yet been issued. Early adoption of all other amendments in this ASU is not permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” This ASU was issued to increase transparency and comparability among organizations by requiring reporting entities to recognize all leases, including operating, as lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. The amendments in this ASU are effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting.” This ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. Under this ASU, companies will no longer record excess tax benefits and certain tax deficiencies in additional paid-in capital (“APIC”). Instead, they will record all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement, and APIC pools will be eliminated. The guidance also eliminates the requirement that excess tax benefits be realized before companies can recognize them. In addition, the guidance requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The guidance will increase the amount an employer can withhold to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer’s statutory income tax withholding obligation. The new guidance will also require an employer to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on its statement of cash flows (current guidance did not specify how these cash flows should be classified) and permit companies to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards. Forfeitures can be estimated, as required today, or recognized when they occur. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016. The Company realized a $42,000 tax benefit during the three months ended March 31, 2017 related to share based compensation. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This ASU includes provisions intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by the entity. In order to achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption is permitted in interim and annual reporting periods beginning after December 15, 2018. Any increase in the allowance for loan losses or expenses incurred to determine the appropriate level of allowance for loan losses may have a material adverse effect on the Company’s financial condition and results of operations. The Company is currently evaluating the provisions of ASU 2016-13 to determine the potential impact the new standard will have on its consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, “Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.” This ASU amends the amortization period for certain callable debt securities held at a premium. The amendment shortens the amortization period for the premium to the earliest call date. Under current generally accepted accounting principles, the premium is generally amortized as an adjustment of yield over the contractual life of the instrument. The amendments in this ASU are effective for public entities for fiscal years beginning after December 31, 2018, including interim periods within those fiscal years. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.

SECURITIES

SECURITIES	3 Months Ended
	Mar. 31, 2017
Securities
Securities	(5) A summary of securities is as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) At March 31, 2017 Securities available for sale State and municipal $ 2,350 $ 48 $ (3) $ 2,395 Residential mortgage-backed securities 16,501 71 (120) 16,452 Total securities available for sale $ 18,851 $ 119 $ (123) $ 18,847 Securities held to maturity State and municipal $ 569 $ — $ (5) $ 564 Residential mortgage-backed securities 1,893 2 (6) 1,889 Total securities held to maturity $ 2,462 $ 2 $ (11) $ 2,453 At December 31, 2016 Securities available for sale State and municipal $ 2,362 $ 27 $ (4) $ 2,385 Residential mortgage-backed securities 17,472 57 (142) 17,387 Total securities available for sale $ 19,834 $ 84 $ (146) $ 19,772 Securities held to maturity State and municipal $ 570 $ — $ (5) $ 565 Residential mortgage-backed securities 1,933 3 (11) 1,925 Total securities held to maturity $ 2,503 $ 3 $ (16) $ 2,490 All residential mortgage-backed securities have been issued by government-sponsored enterprises. The amortized cost and estimated fair value of debt securities by contractual maturity at March 31, 2017 is as follows. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available for Sale Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) After five years through ten years $ 525 $ 537 $ — $ — Over ten years 1,825 1,858 569 564 2,350 2,395 569 564 Residential mortgage-backed securities 16,501 16,452 1,893 1,889 $ 18,851 $ 18,847 $ 2,462 $ 2,453 There were no sales of securities for the three months ended March 31, 2017 and 2016. Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that the individual securities have been in a continuous loss position, is as follows: Less Than Twelve Months Twelve Months Or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) At March 31, 2017 Securities available for sale State and municipal $ (3) $ 239 $ — $ — Residential mortgage-backed securities (120) 8,245 — — Total securities available for sale (123) 8,484 — — Securities held to maturity State and municipal (5) 564 — — Residential mortgage-backed securities (6) 1,869 — — Total securities held to maturity (11) 2,433 — — Total temporarily impaired securities $ (134) $ 10,917 $ — $ — At December 31, 2016 Securities available for sale State and municipal $ (4) $ 512 $ — $ — Residential mortgage-backed securities (142) 8,718 — — Total securities available for sale (146) 9,230 — — Securities held to maturity State and municipal (5) 565 — — Residential mortgage-backed securities (11) 1,898 — — Total securities held to maturity (16) 2,463 — — Total temporarily impaired securities $ (162) $ 11,693 $ — $ — Each reporting period, the Company evaluates all securities classified as available for sale or held to maturity with a decline in fair value below the amortized cost of the investment to determine whether or not the impairment is deemed to be other-than-temporary. The Company believes that the unrealized losses on ten securities at March 31, 2017 in the table above were primarily caused by changes in interest rates and not by credit quality. Seven of the investments are guaranteed by the U.S. Government or its agencies and the three remaining municipal securities were issued by the city of New York, and the school districts of Circleville and Fremont, Ohio. Management has not decided to sell these securities, nor is it likely that the Company will be required to sell the securities; as such no declines are deemed to be other-than-temporary.

LOANS AND SERVICING

LOANS AND SERVICING	3 Months Ended
	Mar. 31, 2017
Loans and Servicing
Loans and Servicing	(6) Loans A summary of loans is as follows: At At March 31, December 31, 2017 2016 Amount Percent Amount Percent (Dollars in thousands) Residential loans: One- to four-family $ 92,869 % $ 90,190 % Home equity loans and lines of credit 15,468 15,879 Total residential mortgage loans 108,337 106,069 Commercial loans: One- to four-family investment property 14,400 13,081 Multi-family real estate 30,214 30,748 Commercial real estate 83,390 83,583 Commercial business 23,851 20,675 Total commercial loans 151,855 148,087 Construction loans: One- to four-family 9,368 12,599 Multi-family 4,505 5,725 Non-residential 7,454 6,830 Total construction loans 21,327 25,154 Consumer 150 182 Total loans 281,669 % 279,492 % Other items: Net deferred loan costs 540 484 Allowance for loan losses (2,642) (2,605) Total loans, net $ 279,567 $ 277,371 An analysis of the allowance for loan losses for the three months ended March 31, 2017 and 2016 and at March 31, 2017 and December 31, 2016 is below. For additional information please refer to Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations. Residential Commercial Construction One‑ to four‑ Home equity family One‑ to four‑ loans and investment Multi‑family Commercial Commercial One‑ to four‑ Non- family lines of credit property real estate real estate business family Multi‑family residential Consumer Unallocated Total (In thousands) Allowance for loan losses Three Months Ended March 31, 2017 Beginning Balance $ 171 $ 238 $ 79 $ 234 $ 1,262 $ 364 $ 104 $ 47 $ 104 $ 2 $ — $ 2,605 Charge-offs — — — — — — — — — (3) — (3) Recoveries — 1 — — — — — — — — — 1 Provision (benefit) 5 (7) 7 (4) (3) 55 (22) (10) 10 2 6 39 Ending Balance $ 176 $ 232 $ 86 $ 230 $ 1,259 $ 419 $ 82 $ 37 $ 114 $ 1 $ 6 $ 2,642 Three Months Ended March 31, 2016 Beginning Balance $ 197 $ 276 $ 90 $ 233 $ 1,021 $ 305 $ 113 $ 12 $ 91 $ 2 $ 68 $ 2,408 Charge-offs — — — — — — — — — — — — Recoveries — 1 — — — — — — — — — 1 (Benefit) provision (17) (17) (7) (7) 105 33 26 2 6 — (50) 74 Ending Balance $ 180 $ 260 $ 83 $ 226 $ 1,126 $ 338 $ 139 $ 14 $ 97 $ 2 $ 18 $ 2,483 At March 31, 2017 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 7 $ — $ — $ — $ — $ — $ — $ — $ — $ 7 Collectively evaluated for impairment 176 232 79 230 1,259 419 82 37 114 1 6 2,635 $ 176 $ 232 $ 86 $ 230 $ 1,259 $ 419 $ 82 $ 37 $ 114 $ 1 $ 6 $ 2,642 Loans Individually evaluated for impairment $ 1,529 $ 296 $ 85 $ — $ 278 $ — $ — $ — $ — $ — $ — $ 2,188 Collectively evaluated for impairment 91,340 15,172 14,315 30,214 83,112 23,851 9,368 4,505 7,454 150 — 279,481 $ 92,869 $ 15,468 $ 14,400 $ 30,214 $ 83,390 $ 23,851 $ 9,368 $ 4,505 $ 7,454 $ 150 $ — $ 281,669 At December 31, 2016 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 7 $ — $ — $ — $ — $ — $ — $ — $ — $ 7 Collectively evaluated for impairment 171 238 72 234 1,262 364 104 47 104 2 — 2,598 $ 171 $ 238 $ 79 $ 234 $ 1,262 $ 364 $ 104 $ 47 $ 104 $ 2 $ — $ 2,605 Loans Individually evaluated for impairment $ 1,543 $ 143 $ 85 $ — $ 281 $ — $ — $ — $ — $ — $ — $ 2,052 Collectively evaluated for impairment 88,647 15,736 12,996 30,748 83,302 20,675 12,599 5,725 6,830 182 — 277,440 $ 90,190 $ 15,879 $ 13,081 $ 30,748 $ 83,583 $ 20,675 $ 12,599 $ 5,725 $ 6,830 $ 182 $ — $ 279,492 The following is a summary of past-due and non-accrual loans at March 31, 2017 and December 31, 2016. For additional information please refer to Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations. Loans delinquent for: 90 days 90 days Total Total Total or more Non-accrual 30 - 59 Days 60 - 89 Days or more Past Due Current Loans and accruing Loans (In thousands) At March 31, 2017 Residential loans: One- to four-family $ — $ — $ 742 $ 742 $ 92,127 $ 92,869 $ — $ 742 Home equity loans and lines of credit 40 157 — 197 15,271 15,468 — 195 Commercial loans: One- to four-family investment property — — — — 14,400 14,400 — — Multi-family real estate — — — — 30,214 30,214 — — Commercial real estate — — — — 83,390 83,390 — — Commercial business — — — — 23,851 23,851 — — Construction loans: One- to four-family — — — — 9,368 9,368 — — Multi-family — — — — 4,505 4,505 — — Non-residential — — — — 7,454 7,454 — — Consumer — — — — 150 150 — — Total $ 40 $ 157 $ 742 $ 939 $ 280,730 $ 281,669 $ — $ 937 Loans delinquent for: 90 days 90 days Total Total Total or more Non-accrual 30 - 59 Days 60 - 89 Days or more Past Due Current Loans and accruing Loans (In thousands) At December 31, 2016 Residential loans: One- to four-family $ — $ — $ 755 $ 755 $ 89,435 $ 90,190 $ — $ 755 Home equity loans and lines of credit 191 20 41 252 15,627 15,879 — 198 Commercial loans: One- to four-family investment property — — — — 13,081 13,081 — — Multi-family real estate — — — — 30,748 30,748 — — Commercial real estate — — — — 83,583 83,583 — — Commercial business — — — — 20,675 20,675 — — Construction loans: One- to four-family — — — — 12,599 12,599 — — Multi-family — — — — 5,725 5,725 — — Non-residential — — — — 6,830 6,830 — — Consumer 7 3 — 10 172 182 — — Total $ 198 $ 23 $ 796 $ 1,017 $ 278,475 $ 279,492 $ — $ 953 The following is a summary of impaired loans at March 31, 2017 and December 31, 2016, and for the threee months and year then ended, respectively. Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) At March 31, 2017 Impaired loans without a valuation allowance Residential loans: One- to four-family $ 1,529 $ 1,549 $ — $ 1,536 $ 14 Home equity loans and lines of credit 296 296 — 220 1 Commercial loans: One- to four-family investment property — — — — — Multi-family real estate — — — — — Commercial real estate 278 278 — 280 4 Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total impaired with no related allowance $ 2,103 $ 2,123 $ — $ 2,036 $ 19 Impaired loans with a valuation allowance Residential loans: One- to four-family $ — $ — $ — $ — $ — Home equity loans and lines of credit — — — — — Commercial loans: One- to four-family investment property 85 85 7 85 1 Multi-family real estate — — — — — Commercial real estate — — — — — Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total with an allowance recorded $ 85 $ 85 $ 7 $ 85 $ 1 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) At December 31, 2016 Impaired loans without a valuation allowance Residential loans: One- to four-family $ 1,543 $ 1,555 $ — $ 1,560 $ 42 Home equity loans and lines of credit 143 143 — 109 5 Commercial loans: One- to four-family investment property — — — — — Multi-family real estate — — — — — Commercial real estate 281 281 — 284 17 Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total impaired with no related allowance $ 1,967 $ 1,979 $ — $ 1,953 $ 64 Impaired loans with a valuation allowance Residential loans: One- to four-family $ — $ — $ — $ — $ — Home equity loans and lines of credit — — — — — Commercial loans: One- to four-family investment property 85 85 7 87 4 Multi-family real estate — — — — — Commercial real estate — — — — — Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total with an allowance recorded $ 85 $ 85 $ 7 $ 87 $ 4 The Company made no loan modifications that resulted in a troubled debt restructuring (“TDR”) during the three months ended March 31, 2017 and 2016. At March 31, 2017, there were no commitments to lend additional funds to borrowers whose loans were previously modified in TDRs. At March 31, 2017 and December 31, 2016, there were no TDR loans in default of their modified terms. The Company has one residential loan in the process of foreclosure with a recorded balance of $157,000 at March 31, 2017. The following table represents the Company’s loans by risk rating at March 31, 2017 and December 31, 2016. For additional information please refer to Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations. Residential Commercial Construction One ‑ to four ‑ Home equity family One ‑ to four ‑ loans and lines investment Multi ‑ family Commercial Commercial One ‑ to four ‑ Non- family of credit property real estate real estate business family Multi ‑ family residential Consumer Total (In thousands) At March 31, 2017 Classification: Not formally rated $ $ 15,193 $ — $ — $ — $ — $ — $ — $ — $ 150 $ 106,559 Pass — — 14,315 30,214 82,360 23,467 9,368 4,505 7,454 — 171,683 Special mention — — — — — — — — — — — Substandard 275 85 — 1,030 384 — — — — 3,427 Doubtful — — — — — — — — — — — Loss — — — — — — — — — — — Total loans $ $ $ $ $ $ $ $ $ $ $ At December 31, 2016 Classification: Not formally rated $ $ 15,601 $ — $ — $ — $ — $ — $ — $ — $ 182 $ 104,305 Pass — — 12,996 30,748 82,873 20,526 12,599 5,725 6,830 — 172,297 Special mention — — — — — — — — — — — Substandard 278 85 — 710 149 — — — — 2,890 Doubtful — — — — — — — — — — — Loss — — — — — — — — — — — Total loans $ $ $ $ $ $ $ $ $ $ $ Credit Quality Information The Bank utilizes a nine grade internal loan rating system for all commercial and construction loans as follows: Loans rated 1 - 5: Loans in these categories are considered “pass” rated loans with low to average risk. Loans rated 6: Loans in this category are considered “special mention.” These loans have risk profiles that are starting to show signs of potential weakness and are being closely monitored by management. Loans rated 7: Loans in this category are considered “substandard.” These loans have a well defined weakness that jeopardizes the liquidation of the debt and is inadequately protected by the current sound worth and paying capacity of the borrower or pledged collateral. There is a distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loans rated 8: 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 9: Loans in this category are considered a “loss.” The loan has been determined to be uncollectible and the chance of loss is inevitable. Loans in this category will be charged-off. On an annual basis, or more often if needed, the Bank formally reviews the ratings on all commercial and construction loans with a one-obligor exposure greater than $350,000. In addition, a complete financial review is performed for any commercial relationship (regardless of one-obligor exposure) reporting a revolving line of credit facility greater than $150,000. More frequent reviews shall be performed depending on the quality rating of the relationship. For commercial relationships which report a current one-obligor exposure equal to or less than $350,000, and have a “Pass” risk rating, the annual review shall be more limited in scope. Loans serviced for others and mortgage servicing rights Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of mortgage loans serviced for others were $80.9 million and $83.2 million at March 31, 2017 and December 31, 2016, respectively. The risks inherent in the mortgage servicing assets relate primarily to changes in prepayments that result from shifts in mortgage interest rates. The fair value of servicing rights was $580,000 and $601,000 at March 31, 2017 and December 31, 2016, respectively, and was determined using the moving average 10-year, U.S. Treasury rate plus 5.0%, adjusted to reflect the current credit spreads and conditions in the market as a discount rate. Prepayment assumptions, which are impacted by loan rates and terms, are calculated using a moving average of prepayment data published by the Securities Industry and Financial Markets Association and an independent third party proprietary analysis of prepayment rates embedded in liquid mortgage securities markets and modeled against the serviced loan portfolio by the independent third party valuation specialist. The following summarizes mortgage servicing rights capitalized and amortized, along with the aggregate activity related to valuation allowances. Three Months Ended March 31, 2017 2016 (In thousands) Mortgage servicing rights: Balance at beginning of period $ 242 $ 523 Additions — — Amortization (53) (78) Balance at end of period 189 445 Valuation allowance: Balance at beginning of period 6 4 Additions 1 12 Reductions — — Balance at end of period 7 16 Mortgage servicing rights, net $ 182 $ 429 Fair value of mortgage servicing rights $ 580 $ 799

SECURED BORROWINGS AND COLLATER

SECURED BORROWINGS AND COLLATERAL	3 Months Ended
	Mar. 31, 2017
Secured Borrowings and Collateral
Secured Borrowings and Collateral	(7) Federal Home Loan Bank advances At March 31, 2017, all Federal Home Loan Bank of Boston (“FHLB”) advances were secured by a blanket security agreement on qualified collateral, principally first mortgage loans on owner-occupied residential property of $79.4 million, commercial real estate loans in the amount of $23.8 million and mortgage-backed securities with a fair value of $18.3 million.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2017
Fair Value Measurements
Fair Value Measurements	(8) The Company groups its financial assets and financial liabilities 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 as follows: Level l - Valuation is based on quoted prices in active markets for identical assets or liabilities. Level l assets and liabilities generally include debt and equity securities that are traded in an active exchange market. At March 31, 2017, the Company had no assets or liabilities valued using Level 1 measurements. Level 2 - Valuation is based on observable inputs other than Level l prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - 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 or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. All of the Company’s securities that are measured at fair value are included in Level 2 and are based on pricing models from independent, third party pricing services that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, credit spreads and new issue data. There are no liabilities measured at fair value. All of the Company’s impaired loans that are measured at fair value are included in Level 3 and are based on the appraised value of the underlying collateral considering discounting factors, if deemed appropriate, and adjusted for selling costs. These appraised values may be discounted based on management’s historical knowledge, expertise or changes in market conditions from time of valuation. The Company did not have any significant transfers of assets or liabilities to or from Levels 1 and 2 of the fair value hierarchy during the three-month period ended March 31, 2017. Assets and liabilities measured at fair value on a recurring basis at March 31, 2017 and December 31, 2016 are summarized below. Total Assets Level 1 Level 2 Level 3 at Fair Value (In thousands) At March 31, 2017 Assets Securities available for sale State and municipal $ — $ 2,395 $ — $ 2,395 Residential mortgage-backed securities — 16,452 — 16,452 Total securities available for sale $ — $ 18,847 $ — $ 18,847 At December 31, 2016 Assets Securities available for sale State and municipal $ — $ 2,385 $ — $ 2,385 Residential mortgage-backed securities — 17,387 — 17,387 Total securities available for sale $ — $ 19,772 $ — $ 19,772 The Company may also be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. Assets measured at fair value on a non-recurring basis at March 31, 2017 and December 31, 2016 are summarized below. The fair value adjustments relate to the amount of write-down recorded or related allowance recorded as of March 31, 2017 and December 31, 2016. Assets Adjustments Level 1 Level 2 Level 3 at Fair Value to Fair Value (In thousands) At March 31, 2017 Impaired loans $ — $ — $ 78 $ 78 $ (7) Assets Adjustments Level 1 Level 2 Level 3 At Fair Value to Fair Value (In thousands) At December 31, 2016 Impaired loans $ — $ — $ 78 $ 78 $ (7) The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments. Cash and cash equivalents : The carrying amounts of cash and short-term investments approximate fair values. Securities : Fair values for the Company’s debt securities 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. FHLB and Bankers Bank Northeast (BBN) stock : Fair value is based on redemption provisions of the FHLB and BBN. The FHLB and BBN stock have no quoted market value. Loans : 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. Capitalized mortgage servicing rights : Fair value is based on a quarterly, independent third-party valuation model that calculates the present value of estimated future net servicing income. The model utilizes a variety of assumptions, the most significant of which are loan prepayment assumptions and the discount rate used to discount future cash flows. Prepayment assumptions, which are impacted by loan rates and terms, are calculated using a moving average of prepayment data published by the Securities Industry and Financial Markets Association and a third party proprietary analysis of prepayment rates embedded in liquid mortgage securities markets and modeled against the serviced loan portfolio by the independent third party valuation specialist. The discount rate is the moving average 10-year, U.S. Treasury rate plus 5.0% adjusted to reflect the current credit spreads and conditions in the market. Other assumptions include delinquency rates, foreclosure rates, servicing cost inflation, and annual unit loan cost. All assumptions are adjusted periodically to reflect current circumstances and all are obtained from independent market sources. Deposits : The fair values for non-certificate accounts are, by definition, equal to the amount payable on demand at the reporting date which is the carrying amount. Fair values for 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 FHLB advances : The fair value of short-term FHLB advances approximates carrying value, as they generally mature within 90 days. Long-term FHLB advances : The fair value for long-term FHLB advances is estimated using discounted cash flow analyses based on current market borrowing rates for similar types of borrowing arrangements. Mortgagors’ escrow accounts : The fair value of mortgagors’ escrow accounts approximates carrying value. Accrued interest : The carrying amounts of accrued interest approximate fair value. Off-balance-sheet instruments : The fair value of commitments to originate loans is estimated using the fees currently charged to enter similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments and the unadvanced portion of loans, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligation with the counterparties at the reporting date. At March 31, 2017 and December 31, 2016, the fair value of commitments outstanding is not significant since fees charged are not material. The estimated fair values and related carrying amounts of the Company’s financial instruments at March 31, 2017 and December 31, 2016 are as follows. March 31, 2017 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ 8,153 $ 8,153 $ — $ — $ 8,153 Securities available for sale 18,847 — 18,847 — 18,847 Securities held to maturity 2,462 — 2,453 — 2,453 FHLB stock 2,751 2,751 — — 2,751 BBN stock 60 60 — — 60 Loans, net 279,567 — — 277,713 277,713 Accrued interest receivable 826 826 — — 826 Capitalized mortgage servicing rights 182 — 580 — 580 Financial liabilities: Deposits $ 240,530 $ — $ 241,273 $ — $ 241,273 Short-term FHLB advances 21,000 21,000 — — 21,000 Long-term FHLB advances 23,600 — 23,679 — 23,679 Mortgagors’ escrow accounts 1,973 1,973 — — 1,973 Accrued interest payable 62 62 — — 62 December 31, 2016 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ 6,129 $ 6,129 $ — $ — $ 6,129 Securities available for sale 19,772 — 19,772 — 19,772 Securities held to maturity 2,503 — 2,490 — 2,490 FHLB stock 2,341 2,341 — — 2,341 BBN stock 60 60 — — 60 Loans held for sale 271 275 — — 275 Loans, net 277,371 — — 275,824 275,824 Accrued interest receivable 816 816 — — 816 Capitalized mortgage servicing rights 236 — 601 — 601 Financial liabilities: Deposits $ 240,508 $ — $ 241,264 $ — $ 241,264 Short-term FHLB advances 17,250 17,250 — — 17,250 Long-term FHLB advances 24,600 — 24,699 — 24,699 Mortgagors’ escrow accounts 1,633 1,633 — — 1,633 Accrued interest payable 58 58 — — 58

EQUITY INCENTIVE PLANS

EQUITY INCENTIVE PLANS	3 Months Ended
	Mar. 31, 2017
Equity Incentive Plans
Equity Incentive Plans	(9) At March 31, 2017, the Company had two equity incentive plans, the 2009 Equity Plan and the 2014 Equity Plan. Both plans were described more fully in Note 12 of the consolidated financial statements for the year ended December 31, 2016. The following tables present the activity for the 2009 and 2014 Equity Plans as of and for the three months ended March 31, 2017. Stock Options 2017 Weighted Average Number of Exercise Shares Price Outstanding at beginning of year 122,775 $ 15.49 Outstanding at end of period 122,775 $ 15.49 Exercisable at end of period 74,477 Aggregate intrinsic value of outstanding options at end of period $ 1,278,000 Options Outstanding Options Exercisable Number Weighted-Average Weighted Number Weighted Outstanding Remaining Average Exercisable Average as of 3/31/2017 Contractual Life Exercise Price as of 3/31/2017 Exercise Price 8,712 2.90 Years $ 8,712 $ 9,683 3.90 Years $ 9,683 $ 8,570 4.90 Years $ 8,570 $ 15,200 5.90 Years $ 12,850 $ 17,110 6.90 Years $ 12,446 $ 30,000 7.90 Years $ 14,400 $ 33,500 8.90 Years $ 7,816 $ 122,775 6.91 Years $ 74,477 $ Non-vested Restricted Stock 2017 Weighted Average Number of Grant Date Shares Value Outstanding at beginning of year 46,449 $ 17.00 Vested (16,373) $ 15.99 Outstanding at end of period 30,076 $ 17.56 As of March 31, 2017, unrecognized share-based compensation expense related to non-vested options amounted to $278,000 and the unrecognized share-based compensation expense related to non-vested restricted stock amounted to $511,000. The unrecognized expense related to the non-vested options and non-vested restricted stock will be recognized over a weighted average period of 3.0 and 2.8 years, respectively. For the three months ended March 31, 2017, the Company recognized compensation expense for stock options of $31,000 with a related tax benefit of $4,000. The related tax benefit applies only to non-qualified stock options. For the three months ended March 31, 2017, the Company recognized compensation expense for restricted stock awards of $63,000 with a related tax benefit of $25,000. The Company declared a quarterly cash dividend of $0.05 per share of common stock on April 24, 2017. The dividend will be paid on or about May 22, 2017, to stockholders of record as of the close of business on May 8, 2017.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates and such differences could be material to the financial statements.

EARNINS PER COMMON SHARE (Table

EARNINS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Common Share
Schedule of basis of computation of earnings per common share	Three Months Ended March 31, 2017 2016 (In thousands, except share and per share data) Net income available to common stockholders $ 278 $ 80 Basic common shares: Weighted average shares outstanding 1,799,280 1,788,005 Less: Weighted average unallocated ESOP shares (71,769) (79,009) Add: Weighted average unvested restricted stock shares with non-forfeitable dividend rights 39,720 45,529 Basic weighted average common shares outstanding 1,767,231 1,754,525 Dilutive potential common shares 38,290 4,506 Diluted weighted average common shares outstanding 1,805,521 1,759,031 Basic earnings per share $ 0.16 $ 0.05 Diluted earnings per share $ 0.15 $ 0.05

SECURITIES (Tables)

SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2017
Securities
Summary of securities	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) At March 31, 2017 Securities available for sale State and municipal $ 2,350 $ 48 $ (3) $ 2,395 Residential mortgage-backed securities 16,501 71 (120) 16,452 Total securities available for sale $ 18,851 $ 119 $ (123) $ 18,847 Securities held to maturity State and municipal $ 569 $ — $ (5) $ 564 Residential mortgage-backed securities 1,893 2 (6) 1,889 Total securities held to maturity $ 2,462 $ 2 $ (11) $ 2,453 At December 31, 2016 Securities available for sale State and municipal $ 2,362 $ 27 $ (4) $ 2,385 Residential mortgage-backed securities 17,472 57 (142) 17,387 Total securities available for sale $ 19,834 $ 84 $ (146) $ 19,772 Securities held to maturity State and municipal $ 570 $ — $ (5) $ 565 Residential mortgage-backed securities 1,933 3 (11) 1,925 Total securities held to maturity $ 2,503 $ 3 $ (16) $ 2,490
Schedule of maturities of debt securities	Available for Sale Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) After five years through ten years $ 525 $ 537 $ — $ — Over ten years 1,825 1,858 569 564 2,350 2,395 569 564 Residential mortgage-backed securities 16,501 16,452 1,893 1,889 $ 18,851 $ 18,847 $ 2,462 $ 2,453
Schedule of securities with gross unrealized losses, aggregated by investment category and length of time that the individual securities have been in a continuous loss position	Less Than Twelve Months Twelve Months Or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) At March 31, 2017 Securities available for sale State and municipal $ (3) $ 239 $ — $ — Residential mortgage-backed securities (120) 8,245 — — Total securities available for sale (123) 8,484 — — Securities held to maturity State and municipal (5) 564 — — Residential mortgage-backed securities (6) 1,869 — — Total securities held to maturity (11) 2,433 — — Total temporarily impaired securities $ (134) $ 10,917 $ — $ — At December 31, 2016 Securities available for sale State and municipal $ (4) $ 512 $ — $ — Residential mortgage-backed securities (142) 8,718 — — Total securities available for sale (146) 9,230 — — Securities held to maturity State and municipal (5) 565 — — Residential mortgage-backed securities (11) 1,898 — — Total securities held to maturity (16) 2,463 — — Total temporarily impaired securities $ (162) $ 11,693 $ — $ —

LOANS AND SERVICING (Tables)

LOANS AND SERVICING (Tables)	3 Months Ended
	Mar. 31, 2017
Loans and Servicing
Summary of loans	At At March 31, December 31, 2017 2016 Amount Percent Amount Percent (Dollars in thousands) Residential loans: One- to four-family $ 92,869 % $ 90,190 % Home equity loans and lines of credit 15,468 15,879 Total residential mortgage loans 108,337 106,069 Commercial loans: One- to four-family investment property 14,400 13,081 Multi-family real estate 30,214 30,748 Commercial real estate 83,390 83,583 Commercial business 23,851 20,675 Total commercial loans 151,855 148,087 Construction loans: One- to four-family 9,368 12,599 Multi-family 4,505 5,725 Non-residential 7,454 6,830 Total construction loans 21,327 25,154 Consumer 150 182 Total loans 281,669 % 279,492 % Other items: Net deferred loan costs 540 484 Allowance for loan losses (2,642) (2,605) Total loans, net $ 279,567 $ 277,371
Schedule of information pertaining to the allowance for loan losses	Residential Commercial Construction One‑ to four‑ Home equity family One‑ to four‑ loans and investment Multi‑family Commercial Commercial One‑ to four‑ Non- family lines of credit property real estate real estate business family Multi‑family residential Consumer Unallocated Total (In thousands) Allowance for loan losses Three Months Ended March 31, 2017 Beginning Balance $ 171 $ 238 $ 79 $ 234 $ 1,262 $ 364 $ 104 $ 47 $ 104 $ 2 $ — $ 2,605 Charge-offs — — — — — — — — — (3) — (3) Recoveries — 1 — — — — — — — — — 1 Provision (benefit) 5 (7) 7 (4) (3) 55 (22) (10) 10 2 6 39 Ending Balance $ 176 $ 232 $ 86 $ 230 $ 1,259 $ 419 $ 82 $ 37 $ 114 $ 1 $ 6 $ 2,642 Three Months Ended March 31, 2016 Beginning Balance $ 197 $ 276 $ 90 $ 233 $ 1,021 $ 305 $ 113 $ 12 $ 91 $ 2 $ 68 $ 2,408 Charge-offs — — — — — — — — — — — — Recoveries — 1 — — — — — — — — — 1 (Benefit) provision (17) (17) (7) (7) 105 33 26 2 6 — (50) 74 Ending Balance $ 180 $ 260 $ 83 $ 226 $ 1,126 $ 338 $ 139 $ 14 $ 97 $ 2 $ 18 $ 2,483 At March 31, 2017 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 7 $ — $ — $ — $ — $ — $ — $ — $ — $ 7 Collectively evaluated for impairment 176 232 79 230 1,259 419 82 37 114 1 6 2,635 $ 176 $ 232 $ 86 $ 230 $ 1,259 $ 419 $ 82 $ 37 $ 114 $ 1 $ 6 $ 2,642 Loans Individually evaluated for impairment $ 1,529 $ 296 $ 85 $ — $ 278 $ — $ — $ — $ — $ — $ — $ 2,188 Collectively evaluated for impairment 91,340 15,172 14,315 30,214 83,112 23,851 9,368 4,505 7,454 150 — 279,481 $ 92,869 $ 15,468 $ 14,400 $ 30,214 $ 83,390 $ 23,851 $ 9,368 $ 4,505 $ 7,454 $ 150 $ — $ 281,669 At December 31, 2016 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 7 $ — $ — $ — $ — $ — $ — $ — $ — $ 7 Collectively evaluated for impairment 171 238 72 234 1,262 364 104 47 104 2 — 2,598 $ 171 $ 238 $ 79 $ 234 $ 1,262 $ 364 $ 104 $ 47 $ 104 $ 2 $ — $ 2,605 Loans Individually evaluated for impairment $ 1,543 $ 143 $ 85 $ — $ 281 $ — $ — $ — $ — $ — $ — $ 2,052 Collectively evaluated for impairment 88,647 15,736 12,996 30,748 83,302 20,675 12,599 5,725 6,830 182 — 277,440 $ 90,190 $ 15,879 $ 13,081 $ 30,748 $ 83,583 $ 20,675 $ 12,599 $ 5,725 $ 6,830 $ 182 $ — $ 279,492
Summary of past-due and non-accrual loans	Loans delinquent for: 90 days 90 days Total Total Total or more Non-accrual 30 - 59 Days 60 - 89 Days or more Past Due Current Loans and accruing Loans (In thousands) At March 31, 2017 Residential loans: One- to four-family $ — $ — $ 742 $ 742 $ 92,127 $ 92,869 $ — $ 742 Home equity loans and lines of credit 40 157 — 197 15,271 15,468 — 195 Commercial loans: One- to four-family investment property — — — — 14,400 14,400 — — Multi-family real estate — — — — 30,214 30,214 — — Commercial real estate — — — — 83,390 83,390 — — Commercial business — — — — 23,851 23,851 — — Construction loans: One- to four-family — — — — 9,368 9,368 — — Multi-family — — — — 4,505 4,505 — — Non-residential — — — — 7,454 7,454 — — Consumer — — — — 150 150 — — Total $ 40 $ 157 $ 742 $ 939 $ 280,730 $ 281,669 $ — $ 937 Loans delinquent for: 90 days 90 days Total Total Total or more Non-accrual 30 - 59 Days 60 - 89 Days or more Past Due Current Loans and accruing Loans (In thousands) At December 31, 2016 Residential loans: One- to four-family $ — $ — $ 755 $ 755 $ 89,435 $ 90,190 $ — $ 755 Home equity loans and lines of credit 191 20 41 252 15,627 15,879 — 198 Commercial loans: One- to four-family investment property — — — — 13,081 13,081 — — Multi-family real estate — — — — 30,748 30,748 — — Commercial real estate — — — — 83,583 83,583 — — Commercial business — — — — 20,675 20,675 — — Construction loans: One- to four-family — — — — 12,599 12,599 — — Multi-family — — — — 5,725 5,725 — — Non-residential — — — — 6,830 6,830 — — Consumer 7 3 — 10 172 182 — — Total $ 198 $ 23 $ 796 $ 1,017 $ 278,475 $ 279,492 $ — $ 953
Schedule of analysis of impaired loans	Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) At March 31, 2017 Impaired loans without a valuation allowance Residential loans: One- to four-family $ 1,529 $ 1,549 $ — $ 1,536 $ 14 Home equity loans and lines of credit 296 296 — 220 1 Commercial loans: One- to four-family investment property — — — — — Multi-family real estate — — — — — Commercial real estate 278 278 — 280 4 Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total impaired with no related allowance $ 2,103 $ 2,123 $ — $ 2,036 $ 19 Impaired loans with a valuation allowance Residential loans: One- to four-family $ — $ — $ — $ — $ — Home equity loans and lines of credit — — — — — Commercial loans: One- to four-family investment property 85 85 7 85 1 Multi-family real estate — — — — — Commercial real estate — — — — — Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total with an allowance recorded $ 85 $ 85 $ 7 $ 85 $ 1 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) At December 31, 2016 Impaired loans without a valuation allowance Residential loans: One- to four-family $ 1,543 $ 1,555 $ — $ 1,560 $ 42 Home equity loans and lines of credit 143 143 — 109 5 Commercial loans: One- to four-family investment property — — — — — Multi-family real estate — — — — — Commercial real estate 281 281 — 284 17 Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total impaired with no related allowance $ 1,967 $ 1,979 $ — $ 1,953 $ 64 Impaired loans with a valuation allowance Residential loans: One- to four-family $ — $ — $ — $ — $ — Home equity loans and lines of credit — — — — — Commercial loans: One- to four-family investment property 85 85 7 87 4 Multi-family real estate — — — — — Commercial real estate — — — — — Commercial business — — — — — Construction loans: One- to four-family — — — — — Multi-family — — — — — Non-residential — — — — — Consumer — — — — — Total with an allowance recorded $ 85 $ 85 $ 7 $ 87 $ 4
Schedule of loans by risk rating	Residential Commercial Construction One ‑ to four ‑ Home equity family One ‑ to four ‑ loans and lines investment Multi ‑ family Commercial Commercial One ‑ to four ‑ Non- family of credit property real estate real estate business family Multi ‑ family residential Consumer Total (In thousands) At March 31, 2017 Classification: Not formally rated $ $ 15,193 $ — $ — $ — $ — $ — $ — $ — $ 150 $ 106,559 Pass — — 14,315 30,214 82,360 23,467 9,368 4,505 7,454 — 171,683 Special mention — — — — — — — — — — — Substandard 275 85 — 1,030 384 — — — — 3,427 Doubtful — — — — — — — — — — — Loss — — — — — — — — — — — Total loans $ $ $ $ $ $ $ $ $ $ $ At December 31, 2016 Classification: Not formally rated $ $ 15,601 $ — $ — $ — $ — $ — $ — $ — $ 182 $ 104,305 Pass — — 12,996 30,748 82,873 20,526 12,599 5,725 6,830 — 172,297 Special mention — — — — — — — — — — — Substandard 278 85 — 710 149 — — — — 2,890 Doubtful — — — — — — — — — — — Loss — — — — — — — — — — — Total loans $ $ $ $ $ $ $ $ $ $ $
Schedule of mortgage servicing rights capitalized and amortized	Three Months Ended March 31, 2017 2016 (In thousands) Mortgage servicing rights: Balance at beginning of period $ 242 $ 523 Additions — — Amortization (53) (78) Balance at end of period 189 445 Valuation allowance: Balance at beginning of period 6 4 Additions 1 12 Reductions — — Balance at end of period 7 16 Mortgage servicing rights, net $ 182 $ 429 Fair value of mortgage servicing rights $ 580 $ 799

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Measurements
Summary of assets and liabilities measured at fair value on a recurring basis	Total Assets Level 1 Level 2 Level 3 at Fair Value (In thousands) At March 31, 2017 Assets Securities available for sale State and municipal $ — $ 2,395 $ — $ 2,395 Residential mortgage-backed securities — 16,452 — 16,452 Total securities available for sale $ — $ 18,847 $ — $ 18,847 At December 31, 2016 Assets Securities available for sale State and municipal $ — $ 2,385 $ — $ 2,385 Residential mortgage-backed securities — 17,387 — 17,387 Total securities available for sale $ — $ 19,772 $ — $ 19,772
Schedule of assets measured at fair value on a non-recurring basis	Assets Adjustments Level 1 Level 2 Level 3 at Fair Value to Fair Value (In thousands) At March 31, 2017 Impaired loans $ — $ — $ 78 $ 78 $ (7) Assets Adjustments Level 1 Level 2 Level 3 At Fair Value to Fair Value (In thousands) At December 31, 2016 Impaired loans $ — $ — $ 78 $ 78 $ (7)
Schedule of estimated fair values and related carrying amounts of the Company's financial instruments	March 31, 2017 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ 8,153 $ 8,153 $ — $ — $ 8,153 Securities available for sale 18,847 — 18,847 — 18,847 Securities held to maturity 2,462 — 2,453 — 2,453 FHLB stock 2,751 2,751 — — 2,751 BBN stock 60 60 — — 60 Loans, net 279,567 — — 277,713 277,713 Accrued interest receivable 826 826 — — 826 Capitalized mortgage servicing rights 182 — 580 — 580 Financial liabilities: Deposits $ 240,530 $ — $ 241,273 $ — $ 241,273 Short-term FHLB advances 21,000 21,000 — — 21,000 Long-term FHLB advances 23,600 — 23,679 — 23,679 Mortgagors’ escrow accounts 1,973 1,973 — — 1,973 Accrued interest payable 62 62 — — 62 December 31, 2016 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) Financial assets: Cash and cash equivalents $ 6,129 $ 6,129 $ — $ — $ 6,129 Securities available for sale 19,772 — 19,772 — 19,772 Securities held to maturity 2,503 — 2,490 — 2,490 FHLB stock 2,341 2,341 — — 2,341 BBN stock 60 60 — — 60 Loans held for sale 271 275 — — 275 Loans, net 277,371 — — 275,824 275,824 Accrued interest receivable 816 816 — — 816 Capitalized mortgage servicing rights 236 — 601 — 601 Financial liabilities: Deposits $ 240,508 $ — $ 241,264 $ — $ 241,264 Short-term FHLB advances 17,250 17,250 — — 17,250 Long-term FHLB advances 24,600 — 24,699 — 24,699 Mortgagors’ escrow accounts 1,633 1,633 — — 1,633 Accrued interest payable 58 58 — — 58

EQUITY INCENTIVE PLANS (Tables)

EQUITY INCENTIVE PLANS (Tables)	3 Months Ended
	Mar. 31, 2017
Equity Incentive Plans
Schedule of activity for stock options	Stock Options 2017 Weighted Average Number of Exercise Shares Price Outstanding at beginning of year 122,775 $ 15.49 Outstanding at end of period 122,775 $ 15.49 Exercisable at end of period 74,477 Aggregate intrinsic value of outstanding options at end of period $ 1,278,000
Schedule of options outstanding and exercisable	Options Outstanding Options Exercisable Number Weighted-Average Weighted Number Weighted Outstanding Remaining Average Exercisable Average as of 3/31/2017 Contractual Life Exercise Price as of 3/31/2017 Exercise Price 8,712 2.90 Years $ 8,712 $ 9,683 3.90 Years $ 9,683 $ 8,570 4.90 Years $ 8,570 $ 15,200 5.90 Years $ 12,850 $ 17,110 6.90 Years $ 12,446 $ 30,000 7.90 Years $ 14,400 $ 33,500 8.90 Years $ 7,816 $ 122,775 6.91 Years $ 74,477 $
Schedule of activity for non-vested restricted stock	Non-vested Restricted Stock 2017 Weighted Average Number of Grant Date Shares Value Outstanding at beginning of year 46,449 $ 17.00 Vested (16,373) $ 15.99 Outstanding at end of period 30,076 $ 17.56

CORPORATE STRUCTURE (Details)

CORPORATE STRUCTURE (Details)	Oct. 05, 2016item$ / shares
Conversion and reorganization to stock holding company
Number of banks prior to the merger | item	2
Bright Star Inc.
Conversion and reorganization to stock holding company
Share price | $ / shares	$ 26

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
Earnings Per Common Share
Net income available to common stockholders	$ 278	$ 80
Basic common shares:
Weighted average shares outstanding	1,799,280	1,788,005
Less: Weighted average unallocated ESOP shares	(71,769)	(79,009)
Add: Weighted average unvested restricted stock shares with non-forfeitable dividend rights	39,720	45,529
Basic weighted average common shares outstanding	1,767,231	1,754,525
Dilutive potential common shares	38,290	4,506
Diluted weighted average common shares outstanding	1,805,521	1,759,031
Basic earnings per share (in dollars per share)	$ 0.16	$ 0.05
Diluted earnings per share (in dollars per share)	$ 0.15	$ 0.05
Options to purchase shares included in the computation of diluted earnings per share (in shares)	122,775	122,775

RECENT ACCOUNTING PRONOUNCEME26

RECENT ACCOUNTING PRONOUNCEMENTS (Details)	3 Months Ended
	Mar. 31, 2017USD ($)
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle
Impact due to accounting change	$ 42,000

SECURITIES - AFS and HTM (Detai

SECURITIES - AFS and HTM (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Securities available for sale
Amortized Cost	$ 18,851	$ 19,834
Gross Unrealized Gains	119	84
Gross Unrealized Losses	(123)	(146)
Securities available for sale	18,847	19,772
Securities held to maturity
Held-to-maturity Securities	2,462
Gross Unrealized Gains	2
Gross Unrealized Losses	(11)
Fair Value	2,453	2,490
State and municipal
Securities available for sale
Amortized Cost	2,350	2,362
Gross Unrealized Gains	48	27
Gross Unrealized Losses	(3)	(4)
Securities available for sale	2,395	2,385
Securities held to maturity
Held-to-maturity Securities	569		$ 570
Gross Unrealized Losses	(5)		(5)
Fair Value	564		565
Residential mortgage-backed securities
Securities available for sale
Amortized Cost	16,501	17,472
Gross Unrealized Gains	71	57
Gross Unrealized Losses	(120)	(142)
Securities available for sale	16,452	17,387
Securities held to maturity
Held-to-maturity Securities	1,893	2,503	1,933
Gross Unrealized Gains	2	3	3
Gross Unrealized Losses	(6)	(16)	(11)
Fair Value	$ 1,889	$ 2,490	$ 1,925

SECURITIES - AFS and HTM - Amor

SECURITIES - AFS and HTM - Amortized Cost and FV (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Available for Sale, Amortized cost
After five years through ten years	$ 525
Over ten years	1,825
Total	2,350
Amortized Cost	18,851
Available-for-sale Securities, Amortized Cost Basis	18,851		$ 19,834
Available for Sale, Fair Value
After five years through ten years	537
Over ten years	1,858
Total	2,395
Fair Value	18,847		19,772
Held to maturity, Amortized Cost
Over 10 years	569
Total	569
Total	2,462
Held to Maturity, Fair Value
Over 10 years	564
Total	564
Fair Value	2,453		2,490
Available for sale securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position
Less Than Twelve Months, Gross Unrealized Losses	123		146
Less Than Twelve Months, Fair Value	8,484		9,230
Held to maturity securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position
Less than 12 months, Gross Unrealized Loss	11		16
Less than 12 months, Fair Value	2,433		2,463
Total temporarily impaired securities, Less than 12 months, Gross Unrealized Loss	134		162
Total temporarily impaired securities, Less than 12 months, Fair Value	10,917		11,693
Additional disclosures
Proceeds from sale of securities	0	$ 0
State and municipal
Available for Sale, Amortized cost
Available-for-sale Securities, Amortized Cost Basis	2,350		2,362
Available for Sale, Fair Value
Fair Value	2,395		2,385
Held to maturity, Amortized Cost
Total	569	570
Held to Maturity, Fair Value
Fair Value	564	565
Available for sale securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position
Less Than Twelve Months, Gross Unrealized Losses	3		4
Less Than Twelve Months, Fair Value	239		512
Held to maturity securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position
Less than 12 months, Gross Unrealized Loss	5		5
Less than 12 months, Fair Value	564		565
Residential mortgage-backed securities
Available for Sale, Amortized cost
Securities without single maturity date	16,501
Available-for-sale Securities, Amortized Cost Basis	16,501		17,472
Available for Sale, Fair Value
Securities without single maturity date	16,452
Fair Value	16,452		17,387
Held to maturity, Amortized Cost
Securities without single maturity date	1,893
Total	1,893	1,933	2,503
Held to Maturity, Fair Value
Securities without single maturity date	1,889
Fair Value	1,889	$ 1,925	2,490
Available for sale securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position
Less Than Twelve Months, Gross Unrealized Losses	120		142
Less Than Twelve Months, Fair Value	8,245		8,718
Held to maturity securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position
Less than 12 months, Gross Unrealized Loss	6		11
Less than 12 months, Fair Value	$ 1,869		$ 1,898

LOANS AND SERVICING - Summary o

LOANS AND SERVICING - Summary of loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Summary of loans:
Loans receivable	$ 281,669	$ 279,492
Total loans (as a percent)	100.00%	100.00%
Other items:
Net deferred loan costs	$ 540	$ 484
Allowance for loan losses	(2,642)	(2,605)	$ (2,483)	$ (2,408)
Total loans, net	279,567	277,371
Residential loans:
Summary of loans:
Loans receivable	$ 108,337	$ 106,069
Total loans (as a percent)	38.46%	37.95%
One- to four- family, residential loans
Summary of loans:
Loans receivable	$ 92,869	$ 90,190
Total loans (as a percent)	32.97%	32.27%
Other items:
Allowance for loan losses	$ (176)	$ (171)	(180)	(197)
Home equity loans and lines of credit
Summary of loans:
Loans receivable	$ 15,468	$ 15,879
Total loans (as a percent)	5.49%	5.68%
Other items:
Allowance for loan losses	$ (232)	$ (238)	(260)	(276)
Commercial loans:
Summary of loans:
Loans receivable	$ 151,855	$ 148,087
Total loans (as a percent)	53.91%	52.98%
One-to-four family investment property
Summary of loans:
Loans receivable	$ 14,400	$ 13,081
Total loans (as a percent)	5.11%	4.68%
Other items:
Allowance for loan losses	$ (86)	$ (79)	(83)	(90)
Multi-family real estate
Summary of loans:
Loans receivable	$ 30,214	$ 30,748
Total loans (as a percent)	10.73%	11.00%
Other items:
Allowance for loan losses	$ (230)	$ (234)	(226)	(233)
Commercial real estate
Summary of loans:
Loans receivable	$ 83,390	$ 83,583
Total loans (as a percent)	29.60%	29.90%
Other items:
Allowance for loan losses	$ (1,259)	$ (1,262)	(1,126)	(1,021)
Commercial business loan
Summary of loans:
Loans receivable	$ 23,851	$ 20,675
Total loans (as a percent)	8.47%	7.40%
Other items:
Allowance for loan losses	$ (419)	$ (364)	(338)	(305)
Construction loans
Summary of loans:
Loans receivable	$ 21,327	$ 25,154
Total loans (as a percent)	7.58%	9.00%
One-to-four family, construction loans
Summary of loans:
Loans receivable	$ 9,368	$ 12,599
Total loans (as a percent)	3.33%	4.51%
Other items:
Allowance for loan losses	$ (82)	$ (104)	(139)	(113)
Multi-family
Summary of loans:
Loans receivable	$ 4,505	$ 5,725
Total loans (as a percent)	1.60%	2.05%
Other items:
Allowance for loan losses	$ (37)	$ (47)	(14)	(12)
Non-residential
Summary of loans:
Loans receivable	$ 7,454	$ 6,830
Total loans (as a percent)	2.65%	2.44%
Other items:
Allowance for loan losses	$ (114)	$ (104)	(97)	(91)
Consumer
Summary of loans:
Loans receivable	$ 150	$ 182
Total loans (as a percent)	0.05%	0.07%
Other items:
Allowance for loan losses	$ (1)	$ (2)	$ (2)	$ (2)

LOANS AND SERVICING - Allowance

LOANS AND SERVICING - Allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Allowance for loan losses
Beginning Balance	$ 2,605	$ 2,408
Charge-offs	(3)
Recoveries	1	1
(Benefit) provision	39	74
Ending Balance	2,642	2,483
Ending balance: Individually evaluated for impairment	7		$ 7
Ending balance: Collectively evaluated for impairment	2,635		2,598
Loans
Ending Balance: Individually evaluated for impairment	2,188		2,052
Ending Balance: Collectively evaluated for impairment	279,481		277,440
Total Loans	281,669		279,492
Residential loans:
Loans
Total Loans	108,337		106,069
One- to four- family, residential loans
Allowance for loan losses
Beginning Balance	171	197
(Benefit) provision	5	(17)
Ending Balance	176	180
Ending balance: Collectively evaluated for impairment	176		171
Loans
Ending Balance: Individually evaluated for impairment	1,529		1,543
Ending Balance: Collectively evaluated for impairment	91,340		88,647
Total Loans	92,869		90,190
Home equity loans and lines of credit
Allowance for loan losses
Beginning Balance	238	276
Recoveries	1	1
(Benefit) provision	(7)	(17)
Ending Balance	232	260
Ending balance: Collectively evaluated for impairment	232		238
Loans
Ending Balance: Individually evaluated for impairment	296		143
Ending Balance: Collectively evaluated for impairment	15,172		15,736
Total Loans	15,468		15,879
Commercial loans:
Loans
Total Loans	151,855		148,087
One-to-four family investment property
Allowance for loan losses
Beginning Balance	79	90
(Benefit) provision	7	(7)
Ending Balance	86	83
Ending balance: Individually evaluated for impairment	7		7
Ending balance: Collectively evaluated for impairment	79		72
Loans
Ending Balance: Individually evaluated for impairment	85		85
Ending Balance: Collectively evaluated for impairment	14,315		12,996
Total Loans	14,400		13,081
Multi-family real estate
Allowance for loan losses
Beginning Balance	234	233
(Benefit) provision	(4)	(7)
Ending Balance	230	226
Ending balance: Collectively evaluated for impairment	230		234
Loans
Ending Balance: Collectively evaluated for impairment	30,214		30,748
Total Loans	30,214		30,748
Commercial real estate
Allowance for loan losses
Beginning Balance	1,262	1,021
(Benefit) provision	(3)	105
Ending Balance	1,259	1,126
Ending balance: Collectively evaluated for impairment	1,259		1,262
Loans
Ending Balance: Individually evaluated for impairment	278		281
Ending Balance: Collectively evaluated for impairment	83,112		83,302
Total Loans	83,390		83,583
Commercial business loan
Allowance for loan losses
Beginning Balance	364	305
(Benefit) provision	55	33
Ending Balance	419	338
Ending balance: Collectively evaluated for impairment	419		364
Loans
Ending Balance: Collectively evaluated for impairment	23,851		20,675
Total Loans	23,851		20,675
Construction loans
Loans
Total Loans	21,327		25,154
One-to-four family, construction loans
Allowance for loan losses
Beginning Balance	104	113
(Benefit) provision	(22)	26
Ending Balance	82	139
Ending balance: Collectively evaluated for impairment	82		104
Loans
Ending Balance: Collectively evaluated for impairment	9,368		12,599
Total Loans	9,368		12,599
Multi-family
Allowance for loan losses
Beginning Balance	47	12
(Benefit) provision	(10)	2
Ending Balance	37	14
Ending balance: Collectively evaluated for impairment	37		47
Loans
Ending Balance: Collectively evaluated for impairment	4,505		5,725
Total Loans	4,505		5,725
Non-residential
Allowance for loan losses
Beginning Balance	104	91
(Benefit) provision	10	6
Ending Balance	114	97
Ending balance: Collectively evaluated for impairment	114		104
Loans
Ending Balance: Collectively evaluated for impairment	7,454		6,830
Total Loans	7,454		6,830
Consumer
Allowance for loan losses
Beginning Balance	2	2
Charge-offs	(3)
(Benefit) provision	2
Ending Balance	1	2
Ending balance: Collectively evaluated for impairment	1		2
Loans
Ending Balance: Collectively evaluated for impairment	150		182
Total Loans	150		$ 182
Unallocated
Allowance for loan losses
Beginning Balance		68
(Benefit) provision	6	(50)
Ending Balance	6	$ 18
Ending balance: Collectively evaluated for impairment	$ 6

LOANS AND SERVICING - Past-due

LOANS AND SERVICING - Past-due and non-accrual loans (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Past-due and non-accrual loans
Past due loans	$ 939	$ 1,017
Total Current	280,730	278,475
Total Loans	281,669	279,492
Non-accrual Loans	937	953
Loans delinquent for: 30 - 59 Days
Past-due and non-accrual loans
Past due loans	40	198
Loans delinquent for: 60 - 89 Days
Past-due and non-accrual loans
Past due loans	157	23
Loans delinquent for: 90 days or more
Past-due and non-accrual loans
Past due loans	742	796
Residential loans:
Past-due and non-accrual loans
Total Loans	108,337	106,069
One- to four- family, residential loans
Past-due and non-accrual loans
Past due loans	742	755
Total Current	92,127	89,435
Total Loans	92,869	90,190
Non-accrual Loans	742	755
One- to four- family, residential loans | Loans delinquent for: 90 days or more
Past-due and non-accrual loans
Past due loans	742	755
Home equity loans and lines of credit
Past-due and non-accrual loans
Past due loans	197	252
Total Current	15,271	15,627
Total Loans	15,468	15,879
Non-accrual Loans	195	198
Home equity loans and lines of credit | Loans delinquent for: 30 - 59 Days
Past-due and non-accrual loans
Past due loans	40	191
Home equity loans and lines of credit | Loans delinquent for: 60 - 89 Days
Past-due and non-accrual loans
Past due loans	157	20
Home equity loans and lines of credit | Loans delinquent for: 90 days or more
Past-due and non-accrual loans
Past due loans		41
Commercial loans:
Past-due and non-accrual loans
Total Loans	151,855	148,087
One-to-four family investment property
Past-due and non-accrual loans
Total Current	14,400	13,081
Total Loans	14,400	13,081
Multi-family real estate
Past-due and non-accrual loans
Total Current	30,214	30,748
Total Loans	30,214	30,748
Commercial real estate
Past-due and non-accrual loans
Total Current	83,390	83,583
Total Loans	83,390	83,583
Commercial business loan
Past-due and non-accrual loans
Total Current	23,851	20,675
Total Loans	23,851	20,675
Construction loans
Past-due and non-accrual loans
Total Loans	21,327	25,154
One-to-four family, construction loans
Past-due and non-accrual loans
Total Current	9,368	12,599
Total Loans	9,368	12,599
Multi-family
Past-due and non-accrual loans
Total Current	4,505	5,725
Total Loans	4,505	5,725
Non-residential
Past-due and non-accrual loans
Total Current	7,454	6,830
Total Loans	7,454	6,830
Consumer
Past-due and non-accrual loans
Past due loans		10
Total Current	150	172
Total Loans	$ 150	182
Consumer | Loans delinquent for: 30 - 59 Days
Past-due and non-accrual loans
Past due loans		7
Consumer | Loans delinquent for: 60 - 89 Days
Past-due and non-accrual loans
Past due loans		$ 3

LOANS AND SERVICING - Analysis

LOANS AND SERVICING - Analysis of impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Recorded Investment
Impaired loans without a valuation allowance	$ 2,103	$ 1,967
Impaired loans with a valuation allowance	85	85
Unpaid Principal Balance
Impaired loans without a valuation allowance	2,123	1,979
Impaired loans with a valuation allowance	85	85
Related Allowance
Impaired loans with a valuation allowance	7	7
Average Recorded Investment
Impaired loans without a valuation allowance	2,036	1,953
Impaired loans with a valuation allowance	85	87
Interest Income Recognized
Impaired loans without a valuation allowance	19	64
Impaired loans with a valuation allowance	1	4
One- to four- family, residential loans
Recorded Investment
Impaired loans without a valuation allowance	1,529	1,543
Unpaid Principal Balance
Impaired loans without a valuation allowance	1,549	1,555
Average Recorded Investment
Impaired loans without a valuation allowance	1,536	1,560
Interest Income Recognized
Impaired loans without a valuation allowance	14	42
Home equity loans and lines of credit
Recorded Investment
Impaired loans without a valuation allowance	296	143
Unpaid Principal Balance
Impaired loans without a valuation allowance	296	143
Average Recorded Investment
Impaired loans without a valuation allowance	220	109
Interest Income Recognized
Impaired loans without a valuation allowance	1	5
Commercial real estate
Recorded Investment
Impaired loans without a valuation allowance	278	281
Unpaid Principal Balance
Impaired loans without a valuation allowance	278	281
Average Recorded Investment
Impaired loans without a valuation allowance	280	284
Interest Income Recognized
Impaired loans without a valuation allowance	4	17
One-to-four family investment property
Recorded Investment
Impaired loans with a valuation allowance	85	85
Unpaid Principal Balance
Impaired loans with a valuation allowance	85	85
Related Allowance
Impaired loans with a valuation allowance	7	7
Average Recorded Investment
Impaired loans with a valuation allowance	85	87
Interest Income Recognized
Impaired loans with a valuation allowance	$ 1	$ 4

LOANS AND SERVICING - Loans mod

LOANS AND SERVICING - Loans modified and classified as troubled debt restructures (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)item	Dec. 31, 2016USD ($)item
Loans modified and classified as troubled debt restructures
Non-accrual Loans	$ 937,000	$ 953,000
Loans receivable	$ 281,669,000	$ 279,492,000
Number of loan modifications that resulted in the classification of TDR | item	0
Number of TDRs in default of their modified terms | item	0	0
Commitments to lend additional funds to borrowers with modified loans	$ 0
Residential loans:
Loans modified and classified as troubled debt restructures
Loan modifications	$ 157,000
Number of loans | item	1
Loans receivable	$ 108,337,000	$ 106,069,000
One- to four- family, residential loans
Loans modified and classified as troubled debt restructures
Non-accrual Loans	742,000	755,000
Loans receivable	92,869,000	90,190,000
Home equity loans and lines of credit
Loans modified and classified as troubled debt restructures
Non-accrual Loans	195,000	198,000
Loans receivable	15,468,000	15,879,000
Commercial loans:
Loans modified and classified as troubled debt restructures
Loans receivable	151,855,000	148,087,000
One-to-four family investment property
Loans modified and classified as troubled debt restructures
Loans receivable	14,400,000	13,081,000
Multi-family real estate
Loans modified and classified as troubled debt restructures
Loans receivable	30,214,000	30,748,000
Commercial real estate
Loans modified and classified as troubled debt restructures
Loans receivable	83,390,000	83,583,000
Commercial business loan
Loans modified and classified as troubled debt restructures
Loans receivable	23,851,000	20,675,000
Construction loans
Loans modified and classified as troubled debt restructures
Loans receivable	21,327,000	25,154,000
One-to-four family, construction loans
Loans modified and classified as troubled debt restructures
Loans receivable	9,368,000	12,599,000
Multi-family
Loans modified and classified as troubled debt restructures
Loans receivable	4,505,000	5,725,000
Non-residential
Loans modified and classified as troubled debt restructures
Loans receivable	7,454,000	6,830,000
Consumer
Loans modified and classified as troubled debt restructures
Loans receivable	$ 150,000	$ 182,000

LOANS AND SERVICING - Internal

LOANS AND SERVICING - Internal Credit Assessment (Details)	3 Months Ended
	Mar. 31, 2017USD ($)gradeperson	Dec. 31, 2016USD ($)
Loans by risk rating
Loans receivable	$ 281,669,000	$ 279,492,000
Internal Loan Rating System
Number of grades in internal loan rating system | grade	9
Number of people bound by the contract | person	1
Not formally rated
Loans by risk rating
Loans receivable	$ 106,559,000	104,305,000
Pass
Loans by risk rating
Loans receivable	$ 171,683,000	172,297,000
Pass | Minimum
Internal Loan Rating System
Grade assigned in internal loan rating system | grade	1
Pass | Maximum
Internal Loan Rating System
Grade assigned in internal loan rating system | grade	5
Special mention
Internal Loan Rating System
Grade assigned in internal loan rating system | grade	6
Substandard
Loans by risk rating
Loans receivable	$ 3,427,000	2,890,000
Internal Loan Rating System
Grade assigned in internal loan rating system | grade	7
Doubtful
Internal Loan Rating System
Grade assigned in internal loan rating system | grade	8
Loss
Loans by risk rating
Loans receivable	$ 281,669,000	279,492,000
Internal Loan Rating System
Grade assigned in internal loan rating system | grade	9
Residential loans:
Loans by risk rating
Loans receivable	$ 108,337,000	106,069,000
One- to four- family, residential loans
Loans by risk rating
Loans receivable	92,869,000	90,190,000
One- to four- family, residential loans | Not formally rated
Loans by risk rating
Loans receivable	91,216,000	88,522,000
One- to four- family, residential loans | Substandard
Loans by risk rating
Loans receivable	1,653,000	1,668,000
One- to four- family, residential loans | Loss
Loans by risk rating
Loans receivable	92,869,000	90,190,000
Home equity loans and lines of credit
Loans by risk rating
Loans receivable	15,468,000	15,879,000
Home equity loans and lines of credit | Not formally rated
Loans by risk rating
Loans receivable	15,193,000	15,601,000
Home equity loans and lines of credit | Substandard
Loans by risk rating
Loans receivable	275,000	278,000
Home equity loans and lines of credit | Loss
Loans by risk rating
Loans receivable	15,468,000	15,879,000
Commercial loans:
Loans by risk rating
Loans receivable	151,855,000	148,087,000
Commercial loans: | Minimum
Loans by risk rating
Loans receivable	150,000
Internal Loan Rating System
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure	350,000
Commercial loans: | Pass | Maximum
Internal Loan Rating System
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure	350,000
One-to-four family investment property
Loans by risk rating
Loans receivable	14,400,000	13,081,000
One-to-four family investment property | Pass
Loans by risk rating
Loans receivable	14,315,000	12,996,000
One-to-four family investment property | Substandard
Loans by risk rating
Loans receivable	85,000	85,000
One-to-four family investment property | Loss
Loans by risk rating
Loans receivable	14,400,000	13,081,000
Multi-family real estate
Loans by risk rating
Loans receivable	30,214,000	30,748,000
Multi-family real estate | Pass
Loans by risk rating
Loans receivable	30,214,000	30,748,000
Multi-family real estate | Loss
Loans by risk rating
Loans receivable	30,214,000	30,748,000
Commercial real estate
Loans by risk rating
Loans receivable	83,390,000	83,583,000
Commercial real estate | Pass
Loans by risk rating
Loans receivable	82,360,000	82,873,000
Commercial real estate | Substandard
Loans by risk rating
Loans receivable	1,030,000	710,000
Commercial real estate | Loss
Loans by risk rating
Loans receivable	83,390,000	83,583,000
Commercial business loan
Loans by risk rating
Loans receivable	23,851,000	20,675,000
Commercial business loan | Pass
Loans by risk rating
Loans receivable	23,467,000	20,526,000
Commercial business loan | Substandard
Loans by risk rating
Loans receivable	384,000	149,000
Commercial business loan | Loss
Loans by risk rating
Loans receivable	23,851,000	20,675,000
Construction loans
Loans by risk rating
Loans receivable	21,327,000	25,154,000
Construction loans | Minimum
Internal Loan Rating System
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure	350,000
One-to-four family, construction loans
Loans by risk rating
Loans receivable	9,368,000	12,599,000
One-to-four family, construction loans | Pass
Loans by risk rating
Loans receivable	9,368,000	12,599,000
One-to-four family, construction loans | Loss
Loans by risk rating
Loans receivable	9,368,000	12,599,000
Multi-family
Loans by risk rating
Loans receivable	4,505,000	5,725,000
Multi-family | Pass
Loans by risk rating
Loans receivable	4,505,000	5,725,000
Multi-family | Loss
Loans by risk rating
Loans receivable	4,505,000	5,725,000
Non-residential
Loans by risk rating
Loans receivable	7,454,000	6,830,000
Non-residential | Pass
Loans by risk rating
Loans receivable	7,454,000	6,830,000
Non-residential | Loss
Loans by risk rating
Loans receivable	7,454,000	6,830,000
Consumer
Loans by risk rating
Loans receivable	150,000	182,000
Consumer | Not formally rated
Loans by risk rating
Loans receivable	150,000	182,000
Consumer | Loss
Loans by risk rating
Loans receivable	$ 150,000	$ 182,000

LOANS AND SERVICING - Servicing

LOANS AND SERVICING - Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Loans serviced for others
Unpaid principal balances of mortgage loans serviced for others not included in the accompanying consolidated balance sheets	$ 80,900		$ 83,200
Moving average term of U.S. Treasury rate used to estimate the discount rate in order to determine the fair value of servicing rights (in years)	10 years		10 years
Percentage added to the moving average 10-year U.S. Treasury rate to estimate the discount rate used to determine the fair value of servicing rights	5.00%		5.00%
Mortgage servicing rights capitalized and amortized
Balance at beginning of period	$ 242	$ 523	$ 523
Amortization	(53)	(78)
Balance at end of period	189	445	242
Valuation allowances:
Balance at beginning of period	6	4	4
Additions	1	12
Balance at end of period	7	16	$ 6
Mortgage servicing assets, net	182	429
Fair value of mortgage servicing assets	$ 580	$ 799

SECURED BORROWINGS AND COLLAT36

SECURED BORROWINGS AND COLLATERAL (Details) $ in Millions	Mar. 31, 2017USD ($)
Residential loans:
Federal Home Loan Bank advances
Amount of qualified collateral pledged on FHLB advances	$ 79.4
Mortgage-backed securities
Federal Home Loan Bank advances
Amount of qualified collateral pledged on FHLB advances	18.3
Commercial real estate
Federal Home Loan Bank advances
Amount of qualified collateral pledged on FHLB advances	$ 23.8

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Non-recurring basis - Impaired Loans - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair value measurements
Adjustments to Fair Value	$ (7)	$ (7)
Level 3
Fair value measurements
Assets at Fair Value	78	78
Total Assets at Fair Value
Fair value measurements
Assets at Fair Value	$ 78	$ 78

FAIR VALUE MEASUREMENTS - Ass38

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Capitalized mortgage servicing rights
Moving average term of U.S. Treasury rate used to estimate the discount rate in order to determine the fair value of servicing rights (in years)	10 years	10 years
Servicing Assets at Fair Value Assumptions Used to Estimate Fair Value Discount Rate Basis Spread on Variable Rate	5.00%	5.00%
Short-term FHLB advances
Maturity period of short-term FHLB advances	90 days
Securities available for sale	$ 18,847	$ 19,772
Residential mortgage-backed securities
Short-term FHLB advances
Securities available for sale	16,452	17,387
State and municipal
Short-term FHLB advances
Securities available for sale	2,395	2,385
Level 2
Short-term FHLB advances
Securities available for sale	18,847	19,772
Recurring basis | Total Assets at Fair Value
Short-term FHLB advances
Securities available for sale	18,847	19,772
Recurring basis | Total Assets at Fair Value | Residential mortgage-backed securities
Short-term FHLB advances
Securities available for sale	16,452	17,387
Recurring basis | Total Assets at Fair Value | State and municipal
Short-term FHLB advances
Securities available for sale	2,395	2,385
Recurring basis | Level 2
Short-term FHLB advances
Securities available for sale	18,847	19,772
Recurring basis | Level 2 | Residential mortgage-backed securities
Short-term FHLB advances
Securities available for sale	16,452	17,387
Recurring basis | Level 2 | State and municipal
Short-term FHLB advances
Securities available for sale	$ 2,395	$ 2,385

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financial assets:
Cash and cash equivalents	$ 8,153	$ 6,129
Securities available for sale	18,847	19,772
Fair Value	2,453	2,490
FHLB stock	2,751	2,341
Bankers Bank Northeast stock	60	60
Loans held for sale		275
Loans, net	277,713	275,824
Accrued interest receivable	826	816
Capitalized mortgage servicing rights	580	601
Financial liabilities:
Deposits	241,273	241,264
Short-term FHLB advances	21,000	17,250
Long-term FHLB advances	23,679	24,699
Mortgagor's escrow accounts	1,973	1,633
Accrued interest payable	62	58
Carrying Amount
Financial assets:
Cash and cash equivalents	8,153	6,129
Securities available for sale	18,847	19,772
Fair Value	2,462	2,503
FHLB stock	2,751	2,341
Bankers Bank Northeast stock	60	60
Loans held for sale		271
Loans, net	279,567	277,371
Accrued interest receivable	826	816
Capitalized mortgage servicing rights	182	236
Financial liabilities:
Deposits	240,530	240,508
Short-term FHLB advances	21,000	17,250
Long-term FHLB advances	23,600	24,600
Mortgagor's escrow accounts	1,973	1,633
Accrued interest payable	62	58
Level 1
Financial assets:
Cash and cash equivalents	8,153	6,129
FHLB stock	2,751	2,341
Bankers Bank Northeast stock	60	60
Loans held for sale		275
Accrued interest receivable	826	816
Financial liabilities:
Short-term FHLB advances	21,000	17,250
Mortgagor's escrow accounts	1,973	1,633
Accrued interest payable	62	58
Level 2
Financial assets:
Securities available for sale	18,847	19,772
Fair Value	2,453	2,490
Capitalized mortgage servicing rights	580	601
Financial liabilities:
Deposits	241,273	241,264
Long-term FHLB advances	23,679	24,699
Level 3
Financial assets:
Loans, net	$ 277,713	$ 275,824

EQUITY INCENTIVE PLANS - Option

EQUITY INCENTIVE PLANS - Options (Details) - 2009 and 2014 Equity Plan - Stock Options - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Number of Shares
Outstanding at beginning of year (in shares)	122,775	122,775
Outstanding at end of period (in shares)	122,775	122,775
Exercisable at end of period (in shares)	74,477
Aggregate intrinsic value of outstanding options at end of period (in shares)	$ 1,278,000
Weighted Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 15.49	$ 15.49
Outstanding at end of period (in dollars per share)	$ 15.49	$ 15.49

EQUITY INCENTIVE PLANS - Opti41

EQUITY INCENTIVE PLANS - Options Outstanding and Exercisable (Details)	3 Months Ended
	Mar. 31, 2017$ / sharesshares
2009 and 2014 Equity Plan
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	122,775
Weighted-Average Remaining Contractual Life	6 years 10 months 28 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 15.49
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	74,477
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 13.78
Weighted Average Exercise Price - $9.33 | 2009 and 2014 Equity Plan
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	8,712
Weighted-Average Remaining Contractual Life	2 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 9.33
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	8,712
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 9.33
Weighted Average Exercise Price - $9.55 | 2009 and 2014 Equity Plan
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	9,683
Weighted-Average Remaining Contractual Life	3 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 9.55
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	9,683
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 9.55
Weighted Average Exercise Price - $9.58 | 2009 and 2014 Equity Plan
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	8,570
Weighted-Average Remaining Contractual Life	4 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 9.58
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	8,570
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 9.58
Weighted Average Exercise Price - $14.00 | 2009 and 2014 Equity Plan
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	15,200
Weighted-Average Remaining Contractual Life	5 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 14
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	12,850
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 14
Weighted Average Exercise Price - $14.98 | 2009 and 2014 Equity Plan
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	17,110
Weighted-Average Remaining Contractual Life	6 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 14.98
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	12,446
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 14.98
Weighted Average Exercise Price - $17.55
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	30,000
Weighted-Average Remaining Contractual Life	7 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 17.55
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	14,400
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 17.55
Weighted Average Exercise Price - $19.40
Options Outstanding
Number Outstanding at the end of the period (in shares) | shares	33,500
Weighted-Average Remaining Contractual Life	8 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 19.40
Options Exercisable
Number Exercisable at the end of the period (in shares) | shares	7,816
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 19.40

EQUITY INCENTIVE PLANS - Restri

EQUITY INCENTIVE PLANS - Restricted Stock and Additional Disclosures (Details)	Apr. 24, 2017$ / shares	Mar. 31, 2017USD ($)item$ / sharesshares	Mar. 31, 2016
Number of Shares
Outstanding at beginning of year (in shares) | shares		46,449
Outstanding at end of period (in shares) | shares		30,076
Additional Disclosures
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.05
Number of equity incentive plans | item		2
Stock Options
Additional Disclosures
Unrecognized share-based compensation expense related to non-vested options (in dollars)		$ 278,000
Weighted average period for recognition of share-based compensation		3 years	2 years 9 months 18 days
Share-based compensation expense recognized (in dollars)		$ 31,000
Tax benefit from recognized compensation expense (in dollars)		$ 4,000
Restricted stock award
Number of Shares
Outstanding at beginning of year (in shares) | shares		46,449
Vested (in shares) | shares		(16,373)
Outstanding at end of period (in shares) | shares		30,076
Weighted Average Grant Date Value
Outstanding at beginning of year (in dollars per share) | $ / shares		$ 17
Vested (in dollars per share) | $ / shares		15.99
Outstanding at end of period (in dollars per share) | $ / shares		$ 17.56
Additional Disclosures
Unrecognized share-based compensation expense related to non-vested restricted stock (in dollars)		$ 511,000
Share-based compensation expense recognized (in dollars)		63,000
Tax benefit from recognized compensation expense (in dollars)		$ 25,000