Citizens Independent Bancorp (CZID) 10-Q 16 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 12, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	Citizens Independent Bancorp, Inc.
Entity Central Index Key	1,553,830
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		666,495

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Cash and cash equivalents
Cash and amounts due from depository institutions	$ 4,096	$ 13,290
Federal funds sold	13,273	3,343
Total cash and cash equivalents	17,369	16,633
Securities available for sale	16,962	31,164
Other investment securities	859	859
Loans	146,777	146,426
Allowance for loan losses	(2,387)	(3,869)
Net loans	144,390	142,557
Premises and equipment, net	2,918	3,050
Accrued interest receivable	357	348
Other real estate owned	376	1,068
Other assets	9,059	6,144
TOTAL ASSETS	192,290	201,823
Deposits
Noninterest bearing	26,227	23,153
Interest bearing	141,900	154,814
Total deposits	168,127	177,967
Borrowed funds	4,252	6,147
Accrued interest payable	1,071	1,492
Other liabilities	1,683	1,380
TOTAL LIABILITIES	175,133	186,986
SHAREHOLDERS' EQUITY
Cumulative preferred stock of no par value; 100,000 shares authorized, 0 shares issued and outstanding	0	0
Common stock of no par value; 2,000,000 shares authorized, 720,875 shares issued and 666,495 shares outstanding at September 30, 2015 and 638,555 shares issued and 584,175 shares outstanding at December 31, 2014, respectively	14,269	12,297
Common stock warrants outstanding; 119,003 warrants issued and 69,108 outstanding as of September 30, 2015 and 119,003 warrants issued and 118,253 outstanding at December 31, 2014, respectively	110	187
Retained earnings	9,886	9,458
Treasury stock, at cost, 54,380 shares at September 30, 2015 and December 31, 2014, respectively	(6,590)	(6,590)
Accumulated other comprehensive income (loss)	(518)	(515)
TOTAL SHAREHOLDERS' EQUITY	17,157	14,837
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 192,290	$ 201,823

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	2,000,000	2,000,000
Common stock, shares issued	720,875	638,555
Common stock, shares outstanding	666,495	584,175
Treasury stock, shares	54,380	54,380
Warrant [Member]
Stock warrants issued	119,003	119,003
Stock warrants outstanding	69,108	118,253

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
INTEREST INCOME
Interest and fees on loans	$ 1,953	$ 1,968	$ 5,788	$ 5,699
Interest and dividends on investment securities	80	184	313	564
Interest on federal funds sold	8	7	21	23
TOTAL INTEREST INCOME	2,041	2,159	6,122	6,286
INTEREST EXPENSE
Interest on deposits	219	285	691	912
Interest on borrowed funds	84	115	274	341
TOTAL INTEREST EXPENSE	303	400	965	1,253
NET INTEREST INCOME	1,738	1,759	5,157	5,033
Provision for loan losses	0	0	0	(186)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	1,738	1,759	5,157	5,219
NONINTEREST INCOME
Service charges	124	121	311	347
Net gain on sale of securities	20	0	168	0
Net gain (loss) on sale of other real estate owned	255	106	211	477
Credit card income and fees	88	87	261	254
Other	111	66	235	207
TOTAL NONINTEREST INCOME	598	380	1,186	1,285
NONINTEREST EXPENSE
Salaries and employee benefits	792	860	2,367	2,571
Net occupancy and equipment expense	219	228	695	827
Other real estate owned expense	32	79	92	236
FDIC insurance expense	56	120	182	360
Legal and professional fees	235	84	433	276
Data processing	86	77	273	239
Advertising	56	54	153	151
Examinations and audits	81	122	237	204
Telephone	20	21	62	67
Other operating expenses	515	291	1,266	871
TOTAL NONINTEREST EXPENSE	2,092	1,936	5,760	5,802
INCOME BEFORE INCOME TAXES	244	203	583	702
Income tax expense	67	0	155	0
NET INCOME	$ 177	$ 203	$ 428	$ 702
Basic earnings per common share (in dollars per share)	$ 0.27	$ 0.35	$ 0.67	$ 1.33
Diluted earnings per common share (in dollars per share)	$ 0.26	$ 0.34	$ 0.66	$ 1.29

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income	$ 177	$ 203	$ 428	$ 702
Other comprehensive income (loss), net of tax:
Unrealized net holding gain (loss) on securities available for sale, net of income taxes	69	(3)	108	149
Reclassification for gains recognized on sale of securities available for sale, net of income taxes	(13)	0	(111)	0
Other comprehensive income (loss)	56	(3)	(3)	149
Comprehensive income	$ 233	$ 200	$ 425	$ 851

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Parenthetical] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	$ 36	$ (2)	$ 56	$ 77
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	$ 7	$ 0	$ 57	$ 0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY $ in Thousands	USD ($)
Balance at beginning of period at Dec. 31, 2013	$ 5,626
Exercise of common stock warrants - 49,145 shares in 2015 and 0 shares in 2014	0
Issuance of common stock - 33,175 shares in 2015 and 238,057 shares in 2014	3,005
Issuance of common stock warrants - 119,003 warrants in 2014	188
Net income	702
Other comprehensive income (loss)	149
Balance at end of period at Sep. 30, 2014	9,670
Balance at beginning of period at Dec. 31, 2014	14,837
Exercise of common stock warrants - 49,145 shares in 2015 and 0 shares in 2014	1,124
Issuance of common stock - 33,175 shares in 2015 and 238,057 shares in 2014	771
Issuance of common stock warrants - 119,003 warrants in 2014	0
Net income	428
Other comprehensive income (loss)	(3)
Balance at end of period at Sep. 30, 2015	$ 17,157

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [Parenthetical] - shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Stock Issued During Period, Shares, New Issues	33,175	238,057
Class of Warrant or Right, Outstanding		119,003
Warrant [Member]
Class of Warrant or Right, Outstanding	69,108
Common Stock Warrants Exercised	49,145	0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 428	$ 702
Adjustment to reconcile net income to net cash provided by (used in) operating activities
Provision for loan losses	0	(186)
Depreciation and amortization	217	262
Deferred income taxes	155	0
Investment securities amortization (accretion), net	104	(5)
Provision for loss on real estate owned	0	86
Change in value of bank owned life insurance	(11)	0
Net (gain) loss on sale of other real estate owned	(211)	(477)
Net (gain) loss on sale of investment securities	(168)	0
Net (gain) loss on disposition of premises and equipment	29	20
Net change in:
Accrued interest receivable	(9)	43
Accrued interest payable	(421)	(379)
Other assets	(58)	438
Other liabilities	303	(137)
Net cash provided by (used in) operating activities	358	367
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of available for sale securities	(3,084)	(5,070)
Proceeds from maturities of available for sale securities	2,928	2,953
Proceeds from sale of available for sale securities	14,418	0
Purchase of bank owned life insurance	(3,000)	0
Net change in loans	(1,983)	(1,552)
Proceeds from sale of other real estate owned	1,053	2,545
Purchases of premises and equipment	(114)	(120)
Net cash provided by (used in) investing activities	10,218	(1,244)
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits	(9,840)	(6,127)
Payments on borrowed funds	(1,238)	(161)
Proceeds from issuance of common stock and warrants	1,238	3,193
Net cash provided by (used in) financing activities	(9,840)	(3,095)
Net increase in cash and cash equivalents	736	(3,972)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	16,633	15,004
CASH AND CASH EQUIVALENTS AT END OF PERIOD	17,369	11,032
Supplemental Disclosure of Cash Flows
Cash paid during the period for: Interest	1,386	1,632
Supplemental Schedule of Noncash Investing and Financing Activities
Transfer of loans to other real estate owned	150	733
Short term debt converted to common stock	$ 656	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Citizens Independent Bancorp, Inc. (the Bancorp), a bank holding company for The Citizens Bank of Logan (the Bank), collectively referred to as the “Company,” is engaged in the business of commercial and retail banking services with operations conducted through offices in Hocking and Athens counties. These communities and surrounding areas are the source of substantially all the Company's deposit and loan activities. Secured loans are secured by business assets, consumer assets, residential real estate, and non-residential real estate. The majority of Company income is derived from commercial, real estate, and retail lending activities and investments. Other financial instruments, which potentially represent concentrations of credit risk, include deposit accounts in other financial institutions and federal funds sold. These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for annual year-end financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation, have been included and are of a normal, recurring nature. Operating results for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. The accounting and reporting policies of the Bancorp and the Bank conform to GAAP and to general practices followed within the banking industry. Securities transactions have been accounted for on a trade date basis, wherein any gains or losses resulting from the transaction are recognized as of the date of the respective trade. The consolidated balance sheet as of December 31, 2014 has been extracted from audited financial statements included in the Company’s 2014 filing on Form 10-K. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2014 Form 10-K. Information is presented in these notes with dollars expressed in thousands, unless otherwise noted or specified. The consolidated financial statements include the accounts of Citizens Independent Bancorp, Inc. and its wholly-owned subsidiary, The Citizens Bank of Logan. All significant intercompany transactions and balances have been eliminated. In June 2014, the Company issued warrants to purchase 119,003 the Company’s common stock at 90% of the prior month’s closing book value. June 25, 2016 187

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 2 - EARNINGS PER COMMON SHARE Earnings per common share are net income available to common stock shareholders divided by the weighted average common shares outstanding during the period. (Dollars in thousands, except per share data) Three Months Ended September 30, 2015 2014 Net income $ 177 $ 203 Weighted average common shares outstanding 663,521 583,425 Basic earnings per common share $ 0.27 $ 0.35 Total shares and warrants 670,680 597,264 Diluted earnings per common share $ 0.26 $ 0.34 Nine Months Ended September 30, 2015 2014 Net income $ 428 $ 702 Weighted average common shares outstanding 638,807 528,487 Basic earnings per common share $ 0.67 $ 1.33 Total shares and warrants 647,751 542,305 Diluted earnings per common share $ 0.66 $ 1.29

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 3 - INVESTMENT SECURITIES (Dollars in thousands) September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. government securities $ 1,009 $ 2 $ - $ 1,011 U.S. government federal agencies 8,673 10 (3) 8,680 State and local governments 2,228 1 (13) 2,216 Mortgage backed securities 5,067 13 (25) 5,055 Total $ 16,977 $ 26 $ (41) $ 16,962 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. government securities $ 5,049 $ 18 $ - $ 5,067 U.S. government federal agencies 13,905 31 (67) 13,869 State and local governments 1,029 7 (1) 1,035 Mortgage backed securities 11,191 67 (65) 11,193 Total $ 31,174 $ 123 $ (133) $ 31,164 (Dollars in thousands) Securities available for sale Amortized Fair Cost Value Amounts maturing in: One year or less $ 1,461 $ 1,464 After one year through five years 7,926 7,929 After five years through ten years 2,546 2,540 After ten years 5,044 5,029 Total $ 16,977 $ 16,962 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. During the first three quarters of 2015, the Company sold available for sale securities, principally U.S. Treasury and Agencies, totaling $ 14.3 1.65 3.9 3.0 2.45 6.2 Investment securities with a carrying amount of approximately $ 16,024,000 28,793,000 (Dollars in thousands) Less than 12 months 12 months or greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses September 30, 2015 U.S. government federal agencies $ 4,010 $ (3) $ - $ - $ 4,010 $ (3) State and local governments 1,764 (13) - - 1,764 (13) Mortgage backed securities 446 (2) 2,088 (23) 2,534 (25) Total $ 6,220 $ (18) $ 2,088 $ (23) $ 8,308 $ (41) December 31, 2014 U.S. government federal agencies $ 3,088 $ (9) $ 4,979 $ (58) $ 8,067 $ (67) State and local governments 578 (1) - - 578 (1) Mortgage backed securities 1,985 (8) 3,684 (57) 5,669 (65) Total $ 5,651 $ (18) $ 8,663 $ (115) $ 14,314 $ (133) The investment portfolio contains unrealized losses of direct obligations of U.S. securities, including mortgage-related instruments issued or backed by the full faith and credit of the U.S. government or are generally viewed as having the implied guarantee of the U.S. government, and debt obligations of a U.S. state or political subdivision. As management has the ability to hold debt securities until maturity, or the foreseeable future if classified as available for sale, no declines are deemed to be other than temporary. Management evaluates securities for other than temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any recovery in fair value.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 4 - LOANS AND ALLOWANCE FOR LOAN LOSSES (Dollars in thousands) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2015 2014 2015 2014 Allowance at beginning of period $ 2,414 $ 3,900 $ 3,869 $ 4,384 Provision for loan losses - - - (186) Charge-offs: Commercial 21 27 1,443 435 Real estate - 7 42 45 Consumer 35 31 94 167 Total charge-offs $ 56 $ 65 $ 1,579 $ 647 Recoveries: Commercial 25 25 64 273 Real estate 1 2 1 7 Consumer 3 8 32 39 Total Recoveries 29 35 97 319 Allowance at end of period $ 2,387 $ 3,870 $ 2,387 $ 3,870 (Dollars in thousands) Collectively Evaluated Individually Evaluated Total Allowance Recorded Allowance Recorded Allowance Recorded for loan investment for loan investment for loan investment losses in loans losses in loans losses in loans September 30, 2015 Commercial $ 1,750 $ 81,728 $ 175 $ 2,107 $ 1,925 $ 83,835 Real estate 169 40,404 94 409 263 40,813 Consumer 199 22,129 - - 199 22,129 Total $ 2,118 $ 144,261 $ 269 $ 2,516 $ 2,387 $ 146,777 December 31, 2014 Commercial $ 2,422 $ 77,651 $ 1,069 $ 10,338 $ 3,491 $ 87,989 Real estate 124 38,091 71 665 195 38,756 Consumer 169 19,407 14 274 183 19,681 Total $ 2,715 $ 135,149 $ 1,154 $ 11,277 $ 3,869 $ 146,426 As part of its monitoring process, the Bank utilizes a risk rating system which quantifies the risk the Bank estimates it has assumed when entering into a loan transaction and during the life of that loan. The system rates the strength of the borrower and the transaction and is designed to provide a program for risk management and early detection of problems. Loans are graded on a scale of 1 through 8, with a grade of 4 or below classified as “Pass” rated credits. Following is a description of the general characteristics of risk grades 5 through 8: 5 – Special Mention - The weighted overall risk associated with this credit is considered higher than normal (but still acceptable) or the loan possesses deficiencies which corrective action by the Bank would remedy, thereby reducing risk. 6 – Substandard - The weighted overall risk associated with this credit (based on each of the Bank’s creditworthiness criteria) is considered undesirable, the credit demonstrates a well-defined weakness or the Bank is inadequately protected and there exists the distinct possibility of sustaining some loss if not corrected. 7 – Doubtful - Weakness makes collection or liquidation in full (based on currently existing facts) improbable. 8 – Loss - This credit is of little value and not warranted as a bankable asset. Accordingly, the Bank does not carry any loans on the books that are graded 8 – loss, instead these loans are charged off. The Bank’s strategy for credit risk management includes ongoing credit examinations and management reviews of loans exhibiting deterioration of credit quality. A deteriorating credit indicates an elevated likelihood of delinquency. When a loan becomes delinquent, its credit grade is reviewed and changed accordingly. Each downgrade to a classified credit results in a higher percentage of reserve to reflect the increased likelihood of loss for similarly graded credits. Further deterioration could result in a certain credit being deemed impaired resulting in a collateral valuation for purposes of establishing a specific reserve which reflects the possible extent of such loss for that credit. The following tables present the risk category of loans by class of loans based on the most recent analysis performed at September 30, 2015 and December 31, 2014. Credit risk profile by credit worthiness category (Dollars in thousands) Commercial Commercial Mortgage Other Category 09/30/15 12/31/14 09/30/15 12/31/14 Pass $ 63,109 $ 61,047 $ 12,955 $ 13,014 5 1,450 4,524 1,680 344 6 4,528 8,131 113 230 7 - 699 - - Total $ 69,087 $ 74,401 $ 14,748 $ 13,588 Consumer Credit Exposure Credit risk by credit worthiness category (Dollars in thousands) Residential Consumer Consumer Consumer Real Estate Equity Auto Other Category 09/30/15 12/31/14 09/30/15 12/31/14 09/30/15 12/31/14 09/30/15 12/31/14 Pass $ 39,986 $ 37,729 $ 8,964 $ 6,945 $ 11,443 $ 10,649 $ 1,545 $ 1,888 5 379 430 60 77 47 54 - - 6 448 597 - 15 70 53 - - 7 - - - - - - - - Total $ 40,813 $ 38,756 $ 9,024 $ 7,037 $ 11,560 $ 10,756 $ 1,545 $ 1,888 Loans evaluated for impairment include loans classified as troubled debt restructurings and non-performing commercial, mortgage and consumer loans. , (Dollars in thousands) Unpaid Recorded Principal Related Investment Balance Allowance September 30, 2015 With no related allowance recorded: Commercial mortgage $ 907 $ 1,418 $ - Commercial other - - - Residential real estate - - - Consumer equity - - - Consumer auto - - - Subtotal 907 1,418 - With an allowance recorded: Commercial mortgage $ 1,200 $ 1,315 $ 175 Commercial other - - - Residential real estate 409 412 94 Consumer equity - - - Consumer auto - - - Subtotal 1,609 1,727 269 Total $ 2,516 $ 3,145 $ 269 Unpaid Recorded Principal Related Investment Balance Allowance December 31, 2014 With no related allowance recorded: Commercial mortgage $ 7,027 $ 7,368 $ - Commercial other 67 67 - Residential real estate 223 278 - Consumer equity 15 16 - Consumer auto 106 109 - Subtotal 7,438 7,838 - With an allowance recorded: Commercial mortgage 3,100 3,191 925 Commercial other 144 168 144 Residential real estate 442 449 71 Consumer equity 153 153 14 Consumer auto - - - Subtotal 3,839 3,961 1,154 Total $ 11,277 $ 11,799 $ 1,154 (Dollars in thousands) No Related With Related Allowance Recorded Allowance Recorded Total Total Total Total Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized Three Months Ended September 30, 2015 Commercial: Mortgage $ 1,049 $ 1 $ 1,057 $ 11 $ 2,106 $ 12 Other 35 - - - 35 - Residential real estate 225 3 474 5 699 8 Consumer: Equity 66 1 75 - 141 1 Auto 111 1 - - 111 1 Other - - - - - - Total $ 1,486 $ 6 $ 1,606 $ 16 $ 3,092 $ 22 Three Months Ended September 30, 2014 Commercial: Mortgage $ 7,673 $ 29 $ 2,589 $ 6 $ 10,262 $ 35 Other 80 1 60 - 140 1 Residential real estate 145 1 532 4 677 5 Consumer: Equity 52 - 153 3 205 3 Auto 81 - - - 81 - Other - - - - - - Total $ 8,031 $ 31 $ 3,334 $ 13 $ 11,365 $ 44 (Dollars in thousands) No Related With Related Allowance Recorded Allowance Recorded Total Total Total Total Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized Nine Months Ended September 30, 2015 Commercial: Mortgage $ 3,464 $ 26 $ 2,301 $ 33 $ 5,765 $ 59 Other 51 1 66 - 117 1 Residential real estate 230 7 452 14 682 21 Consumer: Equity 38 5 114 - 152 5 Auto 108 4 - - 108 4 Other - - - - - - Total $ 3,891 $ 43 $ 2,933 $ 47 $ 6,824 $ 90 Nine Months Ended September 30, 2014 Commercial: Mortgage $ 7,654 $ 86 $ 2,365 $ 19 $ 10,019 $ 105 Other 168 2 251 - 419 2 Residential real estate 242 3 534 13 776 16 Consumer: Equity 75 - 157 8 232 8 Auto 108 1 2 - 110 1 Other - - - - - - Total $ 8,247 $ 92 $ 3,309 $ 40 $ 11,556 $ 132 (Dollars in thousands) Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded TDRs Investment (1) Investment Three months ended September 30, 2015 Commercial mortgage 1 $ 309 $ 309 Residential real estate 3 211 211 Consumer auto - - - Consumer other - - - Total 4 $ 520 $ 520 Three months ended September 30, 2014 Commercial mortgage 2 $ 950 $ 950 Residential real estate - - - Consumer auto 1 1 1 Consumer other - - - Total 3 $ 951 $ 951 Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded TDRs Investment (1) Investment Nine months ended September 30, 2015 Commercial mortgage 2 $ 478 $ 478 Residential real estate 5 377 377 Consumer auto 6 40 40 Consumer other - - - Total 13 $ 895 $ 895 Nine months ended September 30, 2014 Commercial mortgage 5 $ 1,260 $ 1,260 Residential real estate 2 186 186 Consumer auto 2 2 2 Consumer other 1 1 1 Total 10 $ 1,449 $ 1,449 (1) – Pre-modification balance is calculated using the loan balance on the day prior to modification as TDR. A modification of a loan constitutes a TDR when a borrower is experiencing financial difficulty and the modification constitutes a concession. The Bank offers various types of concessions when modifying a loan. Loan terms that may be modified due to a borrower’s financial situation include, but are not limited to, a reduction in the stated interest rate, a reduction in the face amount of the debt, a reduction of the accrued interest, temporary interest-only payments, or re-aging, extensions, deferrals, renewals, and rewrites. In mitigation, additional collateral, a co-borrower, or a guarantor may be requested. During the nine month period ended September 30, 2015, loans were typically modified by a reduction in rates, a change in the contractual maturity date of the note, or both. Four loans were modified with reduced interest rates, the contractual maturity date of three loans was extended, and five loans had the rate reduced and the amortization period extended. A single note was converted to interest only, with a balloon payment at maturity. During the nine month period ended September 30, 2014, loans were modified by either a reduction in rates or a change in the contractual maturity date of the note. Two loans were modified with reduced interest rates and the contractual maturity date of eight loans was extended. Loans modified as a TDR may already be on nonaccrual status and partial charge-offs may have in some cases been taken against the outstanding loan balance. The allowance for impaired loans that has been modified in a TDR is measured based on the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent or on the present value of expected future cash flows, discounted at the loan’s original effective interest rate. Management exercises significant judgment in developing these determinations. There are no loans which were modified as a TDR within the previous twelve months that have subsequently defaulted as of September 30, 2015. Recorded (Dollars in thoudands) Investment 30-59 60-89 >90 >90 Days Days Days Days Total Total and Past Due Past Due Past Due Past Due Current Loans Accruing September 30, 2015 Commercial: Mortgage $ 594 $ 98 $ - $ 692 $ 68,395 $ 69,087 $ - Other 1 - - 1 14,747 14,748 - Residential real estate 547 - - 547 40,266 40,813 - Consumer: Equity 23 - - 23 9,001 9,024 - Auto 87 8 36 131 11,429 11,560 - Other 30 2 - 32 1,513 1,545 - Total $ 1,282 $ 108 $ 36 $ 1,426 $ 145,351 $ 146,777 $ - December 31, 2014 Commercial: Mortgage $ 1,345 $ 238 $ 4,924 $ 6,507 $ 67,894 $ 74,401 $ - Other 17 144 20 181 13,407 13,588 - Residential real estate 470 186 27 683 38,073 38,756 - Consumer: Equity - - - - 7,037 7,037 - Auto 20 6 19 45 10,711 10,756 - Other 8 6 10 24 1,864 1,888 - Total $ 1,860 $ 580 $ 5,000 $ 7,440 $ 138,986 $ 146,426 $ - (Dollars in thousands) September 30, December 31, 2015 2014 Commercial: Mortgage $ 1,142 $ 7,200 Other - 169 Residential real estate 162 307 Consumer: Equity - 15 Auto 62 38 Other - - Total $ 1,366 $ 7,729

BANK OWNED LIFE INSURANCE

BANK OWNED LIFE INSURANCE	9 Months Ended
	Sep. 30, 2015
Investments, All Other Investments [Abstract]
Life Insurance, Corporate or Bank Owned [Text Block]	NOTE 5 – BANK OWNED LIFE INSURANCE During the quarter ended September 30, 2015, the Bank purchased $ 3.0 1.5 5.50

BORROWINGS

BORROWINGS	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 6 – BORROWINGS Bancorp renegotiated a substantial portion of the existing $ 5.0 December 29, 2015 2.7 2.3 28,675 22.86 1.6 During the third quarter ended September 30, 2015, the Company made a payment of $ 1,000,000 1,626,109 Management is actively engaged in the sale of the remainder of the OREO property held at the Bancorp, which will provide additional liquidity to meet required debt servicing payments. Balance of Frequency Loan as of Interest of Maturity Description 09/30/15 Rate Payments Status Date Loan 1 $ 1,626,109 8.00 % Monthly Interest Only 12/29/2015 Loan 2 $ 571,032 4.75 % Monthly Amortizing 11/21/2019 Loan 3 $ 410,214 4.25 % Monthly Amortizing 6/26/2019 Loan 4 $ 1,644,547 6.00 % Monthly Interest Only 8/4/2021

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 7 – EMPLOYEE BENEFIT PLANS The bank has a qualified noncontributory benefit pension plan which covers certain employees. The benefits are primarily based on years of service and earnings. (Dollars in thousands) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Net periodic pension cost: Interest cost on projected benefit obligation $ 14 $ 13 $ 42 $ 39 Expected return on plan assets (11) (10) (33) (30) Settlement loss - - - - Net amortization of deferral of (gains) losses 17 12 51 36 Net periodic pension cost $ 20 $ 15 $ 60 $ 45

FAIR VALUES OF FINANCIAL INSTRU

FAIR VALUES OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 8 - FAIR VALUES OF FINANCIAL INSTRUMENTS Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Accounting guidance also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under this guidance are described below. Level 1 - Valuation is based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets and liabilities. Level 2 - Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on 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 asset or liability. 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 determination of fair value requires significant management judgment or estimation. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accordingly, investment securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record other assets at fair value on a nonrecurring basis, such as impaired loans and other real estate owned. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. The following describes the valuation techniques used to measure certain financial assets and liabilities recorded at fair value on a recurring basis in the financial statements. Investment securities available for sale - Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions, and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange or traded by dealers or brokers in active over-the-counter markets. Level 2 securities include securities issued by government sponsored entities, mortgage-backed securities, and municipal bonds. Level 3 securities include those with unobservable inputs. Transfers between levels can occur due to changes in the observability of significant inputs. (Dollars in thousands) Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets/Liabilities Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2015 Assets: Available for sale securities: U.S. government securities $ 1,011 $ 1,011 $ - $ - U.S. government federal agencies 8,680 - 8,680 - State and local governments 2,216 - 2,216 - Mortgage backed securities 5,055 - 5,055 - Total securities available for sale $ 16,962 $ 1,011 $ 15,951 $ - December 31, 2014 Assets: Securities available for sale U.S. government securities $ 5,067 $ 5,067 $ - $ - U.S. government federal agencies 13,869 - 13,869 - State and local governments 1,035 - 1,035 - Mortgage backed securities 11,193 - 11,193 - Total securities available for sale $ 31,164 $ 5,067 $ 26,097 $ - The following describes the valuation techniques used to measure certain financial assets and liabilities recorded at fair value on a nonrecurring basis in the financial statements. Impaired loans - The Bank does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses may need to be established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment. As of September 30, 2015, the fair value of substantially all of the impaired loans was estimated based on the fair value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Bank records the impaired loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Bank records the impaired loan as nonrecurring Level 3. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Other real estate owned (OREO) - OREO consists of real estate acquired in foreclosure or other settlement of loans. Such assets are carried on the consolidated balance sheet at the lower of the investment in the real estate or its fair value less estimated selling costs. The fair value of OREO is determined on a nonrecurring basis generally utilizing current appraisals performed by an independent, licensed appraiser applying an income or market value approach using observable market data (level 2). However, if a current appraisal is not available, the original appraised value is discounted, as appropriate, to compensate for the estimated depreciation in the value of the real estate since the date of its original appraisal. Such discounts are generally estimated based upon management’s knowledge of sales of similar property within the applicable market area and its knowledge of other real estate market-related data as well as general economic trends (Level 3). Upon foreclosure, any fair value adjustment is charged against the allowance for loan losses. Subsequent fair value adjustments are recorded in the period incurred and included in other noninterest expense in the consolidated statements of income. (Dollars in thousands) Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets/Liabilities Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2015 Assets: Impaired loans Commercial mortgage $ 1,932 $ - $ - $ 1,932 Commercial other - - - - Residential real estate 315 - - 315 Consumer equity - - - - Consumer auto - - - - Total impaired loans 2,247 - - 2,247 Other real estate owned Residential 78 - - 78 Commercial 298 - - 298 Total other real estate owned $ 376 $ - $ - $ 376 December 31, 2014 Assets: Impaired loans Commercial mortgage $ 9,202 $ - $ - $ 9,202 Commercial other 67 - - 67 Residential real estate 594 - - 594 Consumer equity 154 - - 154 Consumer auto 106 - - 106 Total impaired loans 10,123 - - 10,123 Other real estate owned Residential 200 - - 200 Commercial 868 - - 868 Total other real estate owned $ 1,068 $ - $ - $ 1,068 The following methods and assumptions were used to estimate the fair value disclosures for other financial instruments as of September 30, 2015 and December 31, 2014: Cash and cash equivalents - The fair value of cash and cash equivalents is estimated to approximate the carrying amounts. Other investment securities - Other investment securities consist of restricted equity securities in the Federal Home Loan Bank (FHLB) and are carried at cost. Because there is no market, the carrying values of restricted equity securities approximate fair values based on the redemption provisions of the FHLB. Loans - The fair value of loans is calculated by discounting estimated cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The estimated cash flows do not anticipate prepayments. Management has made estimates of fair value discount rates that it believes to be reasonable. However, because there is no market for many of these financial instruments, management has no basis to determine whether the fair value presented for loans would be indicative of the value negotiated in an actual sale. Accrued interest receivable and payable - The carrying amounts of accrued interest approximate fair value. Bank owned life insurance – the fair value of bank owned life insurance approximates the cash surrender value of the policies. Deposits - The fair value of deposits with no stated maturity, such as noninterest-bearing and interest-bearing demand deposits, regular savings, and certain types of money market accounts, is equal to the amount payable on demand at the reporting date (that is, their carrying amounts). The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. Borrowed funds - The carrying amounts of borrowed funds which mature within 90 days approximate their fair values. The fair values of other borrowed funds are estimated using discounted cash flow analysis that applies interest rates currently offered on similar instruments. Off-balance sheet instruments - The fair values of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of agreements and the present credit standing of the counterparties. The amounts of fees currently charged on commitments to extend credit and standby letters of credit are deemed insignificant, and therefore, the estimated fair values and carrying values are not shown. Fair Value Measurements Using Quoted (Dollars in thousands) Prices in Active Significant Markets Other Significant for Identical Observable Unobservable Carrying Fair Assets/Liabilities Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) September 30, 2015 Financial assets: Cash and cash equivalents $ 17,369 $ 17,369 $ - $ 17,369 $ - Investment securities 16,962 16,962 1,011 15,951 - Other investment securities 859 859 - - 859 Loans, net 144,390 147,934 - - 147,934 Accrued interest receivable 357 357 - - 357 Bank owned life insurance 3,292 3,292 - 3,292 - Financial liabilities: Noninterest-bearing deposits $ 26,227 $ 26,227 $ - $ 26,227 $ - Interest-bearing deposits 141,900 143,293 - 143,293 - Borrowed funds 4,252 4,252 - 4,252 - Accrued interest payable 1,071 1,071 - - 1,071 December 31, 2014 Financial assets: Cash and cash equivalents $ 16,633 $ 16,633 $ - $ 16,633 $ - Securities available for sale 31,164 31,164 5,067 26,097 - Other investment securities 859 859 - - 859 Loans, net 142,557 145,895 - - 145,895 Accrued interest receivable 348 348 - - 348 Financial liabilities: Noninterest-bearing deposits $ 23,153 $ 23,153 $ - $ 23,153 $ - Interest-bearing deposits 154,814 155,735 - 155,735 - Borrowed funds 6,147 6,147 - 6,147 - Accrued interest payable 1,492 1,492 - - 1,492 The carrying amounts in the preceding table are included in the consolidated balance sheets under the applicable captions. No derivatives were held by the Company for trading purposes.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Nature of Operations [Text Block]	Nature of Operations Citizens Independent Bancorp, Inc. (the Bancorp), a bank holding company for The Citizens Bank of Logan (the Bank), collectively referred to as the “Company,” is engaged in the business of commercial and retail banking services with operations conducted through offices in Hocking and Athens counties. These communities and surrounding areas are the source of substantially all the Company's deposit and loan activities. Secured loans are secured by business assets, consumer assets, residential real estate, and non-residential real estate. The majority of Company income is derived from commercial, real estate, and retail lending activities and investments. Other financial instruments, which potentially represent concentrations of credit risk, include deposit accounts in other financial institutions and federal funds sold.
Basis of Accounting, Policy [Policy Text Block]	Basis of Financial Statement Presentation These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for annual year-end financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation, have been included and are of a normal, recurring nature. Operating results for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. The accounting and reporting policies of the Bancorp and the Bank conform to GAAP and to general practices followed within the banking industry. Securities transactions have been accounted for on a trade date basis, wherein any gains or losses resulting from the transaction are recognized as of the date of the respective trade. The consolidated balance sheet as of December 31, 2014 has been extracted from audited financial statements included in the Company’s 2014 filing on Form 10-K. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2014 Form 10-K. Information is presented in these notes with dollars expressed in thousands, unless otherwise noted or specified.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of Citizens Independent Bancorp, Inc. and its wholly-owned subsidiary, The Citizens Bank of Logan. All significant intercompany transactions and balances have been eliminated.
Common Stock Warrants [Policy Text Block]	Common Stock Warrants In June 2014, the Company issued warrants to purchase 119,003 the Company’s common stock at 90% of the prior month’s closing book value. June 25, 2016 187

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The factors used in the earnings per share computation for the three and nine month periods ended September 30, 2015 and 2014 follow: (Dollars in thousands, except per share data) Three Months Ended September 30, 2015 2014 Net income $ 177 $ 203 Weighted average common shares outstanding 663,521 583,425 Basic earnings per common share $ 0.27 $ 0.35 Total shares and warrants 670,680 597,264 Diluted earnings per common share $ 0.26 $ 0.34 Nine Months Ended September 30, 2015 2014 Net income $ 428 $ 702 Weighted average common shares outstanding 638,807 528,487 Basic earnings per common share $ 0.67 $ 1.33 Total shares and warrants 647,751 542,305 Diluted earnings per common share $ 0.66 $ 1.29

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities [Table Text Block]	The amortized cost of securities and their approximate fair values are as follows: (Dollars in thousands) September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. government securities $ 1,009 $ 2 $ - $ 1,011 U.S. government federal agencies 8,673 10 (3) 8,680 State and local governments 2,228 1 (13) 2,216 Mortgage backed securities 5,067 13 (25) 5,055 Total $ 16,977 $ 26 $ (41) $ 16,962 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. government securities $ 5,049 $ 18 $ - $ 5,067 U.S. government federal agencies 13,905 31 (67) 13,869 State and local governments 1,029 7 (1) 1,035 Mortgage backed securities 11,191 67 (65) 11,193 Total $ 31,174 $ 123 $ (133) $ 31,164
Investments Classified by Contractual Maturity Date [Table Text Block]	The following is a summary of maturities of securities available-for-sale as of September 30, 2015: (Dollars in thousands) Securities available for sale Amortized Fair Cost Value Amounts maturing in: One year or less $ 1,461 $ 1,464 After one year through five years 7,926 7,929 After five years through ten years 2,546 2,540 After ten years 5,044 5,029 Total $ 16,977 $ 16,962
Schedule of Unrealized Loss on Investments [Table Text Block]	Information pertaining to securities with gross unrealized losses at September 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: (Dollars in thousands) Less than 12 months 12 months or greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses September 30, 2015 U.S. government federal agencies $ 4,010 $ (3) $ - $ - $ 4,010 $ (3) State and local governments 1,764 (13) - - 1,764 (13) Mortgage backed securities 446 (2) 2,088 (23) 2,534 (25) Total $ 6,220 $ (18) $ 2,088 $ (23) $ 8,308 $ (41) December 31, 2014 U.S. government federal agencies $ 3,088 $ (9) $ 4,979 $ (58) $ 8,067 $ (67) State and local governments 578 (1) - - 578 (1) Mortgage backed securities 1,985 (8) 3,684 (57) 5,669 (65) Total $ 5,651 $ (18) $ 8,663 $ (115) $ 14,314 $ (133)

LOANS AND ALLOWANCE FOR LOAN 21

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Allowance for Credit Losses on Financing Receivables [Table Text Block]	The following tables provide information on the activity in the allowance for loan losses by the respective loan portfolio segment for the periods indicated: (Dollars in thousands) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2015 2014 2015 2014 Allowance at beginning of period $ 2,414 $ 3,900 $ 3,869 $ 4,384 Provision for loan losses - - - (186) Charge-offs: Commercial 21 27 1,443 435 Real estate - 7 42 45 Consumer 35 31 94 167 Total charge-offs $ 56 $ 65 $ 1,579 $ 647 Recoveries: Commercial 25 25 64 273 Real estate 1 2 1 7 Consumer 3 8 32 39 Total Recoveries 29 35 97 319 Allowance at end of period $ 2,387 $ 3,870 $ 2,387 $ 3,870
Impaired Financing Receivables [Table Text Block]	The following tables present the recorded investment with respect to loans and the related allowance by portfolio segment at the dates indicated: (Dollars in thousands) Collectively Evaluated Individually Evaluated Total Allowance Recorded Allowance Recorded Allowance Recorded for loan investment for loan investment for loan investment losses in loans losses in loans losses in loans September 30, 2015 Commercial $ 1,750 $ 81,728 $ 175 $ 2,107 $ 1,925 $ 83,835 Real estate 169 40,404 94 409 263 40,813 Consumer 199 22,129 - - 199 22,129 Total $ 2,118 $ 144,261 $ 269 $ 2,516 $ 2,387 $ 146,777 December 31, 2014 Commercial $ 2,422 $ 77,651 $ 1,069 $ 10,338 $ 3,491 $ 87,989 Real estate 124 38,091 71 665 195 38,756 Consumer 169 19,407 14 274 183 19,681 Total $ 2,715 $ 135,149 $ 1,154 $ 11,277 $ 3,869 $ 146,426
Financing Receivable Credit Quality Indicators [Table Text Block]	Commercial Credit Exposure Credit risk profile by credit worthiness category (Dollars in thousands) Commercial Commercial Mortgage Other Category 09/30/15 12/31/14 09/30/15 12/31/14 Pass $ 63,109 $ 61,047 $ 12,955 $ 13,014 5 1,450 4,524 1,680 344 6 4,528 8,131 113 230 7 - 699 - - Total $ 69,087 $ 74,401 $ 14,748 $ 13,588 Consumer Credit Exposure Credit risk by credit worthiness category (Dollars in thousands) Residential Consumer Consumer Consumer Real Estate Equity Auto Other Category 09/30/15 12/31/14 09/30/15 12/31/14 09/30/15 12/31/14 09/30/15 12/31/14 Pass $ 39,986 $ 37,729 $ 8,964 $ 6,945 $ 11,443 $ 10,649 $ 1,545 $ 1,888 5 379 430 60 77 47 54 - - 6 448 597 - 15 70 53 - - 7 - - - - - - - - Total $ 40,813 $ 38,756 $ 9,024 $ 7,037 $ 11,560 $ 10,756 $ 1,545 $ 1,888
Impaired Financing Receivables Segregated By With And Without Allowance Recorded [Table Text Block]	The following tables set forth certain information regarding the Bank’s impaired loans by class , (Dollars in thousands) Unpaid Recorded Principal Related Investment Balance Allowance September 30, 2015 With no related allowance recorded: Commercial mortgage $ 907 $ 1,418 $ - Commercial other - - - Residential real estate - - - Consumer equity - - - Consumer auto - - - Subtotal 907 1,418 - With an allowance recorded: Commercial mortgage $ 1,200 $ 1,315 $ 175 Commercial other - - - Residential real estate 409 412 94 Consumer equity - - - Consumer auto - - - Subtotal 1,609 1,727 269 Total $ 2,516 $ 3,145 $ 269 Unpaid Recorded Principal Related Investment Balance Allowance December 31, 2014 With no related allowance recorded: Commercial mortgage $ 7,027 $ 7,368 $ - Commercial other 67 67 - Residential real estate 223 278 - Consumer equity 15 16 - Consumer auto 106 109 - Subtotal 7,438 7,838 - With an allowance recorded: Commercial mortgage 3,100 3,191 925 Commercial other 144 168 144 Residential real estate 442 449 71 Consumer equity 153 153 14 Consumer auto - - - Subtotal 3,839 3,961 1,154 Total $ 11,277 $ 11,799 $ 1,154
Impaired Financing Receivables Segregated By Portfolio Segment And Class [Table Text Block]	The following tables present the average recorded investments in impaired loans and the amount of interest income recognized on impaired loans after impairment by class for the periods indicated. (Dollars in thousands) No Related With Related Allowance Recorded Allowance Recorded Total Total Total Total Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized Three Months Ended September 30, 2015 Commercial: Mortgage $ 1,049 $ 1 $ 1,057 $ 11 $ 2,106 $ 12 Other 35 - - - 35 - Residential real estate 225 3 474 5 699 8 Consumer: Equity 66 1 75 - 141 1 Auto 111 1 - - 111 1 Other - - - - - - Total $ 1,486 $ 6 $ 1,606 $ 16 $ 3,092 $ 22 Three Months Ended September 30, 2014 Commercial: Mortgage $ 7,673 $ 29 $ 2,589 $ 6 $ 10,262 $ 35 Other 80 1 60 - 140 1 Residential real estate 145 1 532 4 677 5 Consumer: Equity 52 - 153 3 205 3 Auto 81 - - - 81 - Other - - - - - - Total $ 8,031 $ 31 $ 3,334 $ 13 $ 11,365 $ 44 (Dollars in thousands) No Related With Related Allowance Recorded Allowance Recorded Total Total Total Total Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized Nine Months Ended September 30, 2015 Commercial: Mortgage $ 3,464 $ 26 $ 2,301 $ 33 $ 5,765 $ 59 Other 51 1 66 - 117 1 Residential real estate 230 7 452 14 682 21 Consumer: Equity 38 5 114 - 152 5 Auto 108 4 - - 108 4 Other - - - - - - Total $ 3,891 $ 43 $ 2,933 $ 47 $ 6,824 $ 90 Nine Months Ended September 30, 2014 Commercial: Mortgage $ 7,654 $ 86 $ 2,365 $ 19 $ 10,019 $ 105 Other 168 2 251 - 419 2 Residential real estate 242 3 534 13 776 16 Consumer: Equity 75 - 157 8 232 8 Auto 108 1 2 - 110 1 Other - - - - - - Total $ 8,247 $ 92 $ 3,309 $ 40 $ 11,556 $ 132
Troubled Debt Restructurings on Financing Receivables [Table Text Block]	The following table summarizes information relative to loan modifications determined to be troubled debt restructurings (TDRs) during the periods indicated. (Dollars in thousands) Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded TDRs Investment (1) Investment Three months ended September 30, 2015 Commercial mortgage 1 $ 309 $ 309 Residential real estate 3 211 211 Consumer auto - - - Consumer other - - - Total 4 $ 520 $ 520 Three months ended September 30, 2014 Commercial mortgage 2 $ 950 $ 950 Residential real estate - - - Consumer auto 1 1 1 Consumer other - - - Total 3 $ 951 $ 951 Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded TDRs Investment (1) Investment Nine months ended September 30, 2015 Commercial mortgage 2 $ 478 $ 478 Residential real estate 5 377 377 Consumer auto 6 40 40 Consumer other - - - Total 13 $ 895 $ 895 Nine months ended September 30, 2014 Commercial mortgage 5 $ 1,260 $ 1,260 Residential real estate 2 186 186 Consumer auto 2 2 2 Consumer other 1 1 1 Total 10 $ 1,449 $ 1,449 (1) – Pre-modification balance is calculated using the loan balance on the day prior to modification as TDR.
Past Due Financing Receivables [Table Text Block]	The following table presents the loan portfolio by class summarized by aging categories, at September 30, 2015 and December 31, 2014: Recorded (Dollars in thoudands) Investment 30-59 60-89 >90 >90 Days Days Days Days Total Total and Past Due Past Due Past Due Past Due Current Loans Accruing September 30, 2015 Commercial: Mortgage $ 594 $ 98 $ - $ 692 $ 68,395 $ 69,087 $ - Other 1 - - 1 14,747 14,748 - Residential real estate 547 - - 547 40,266 40,813 - Consumer: Equity 23 - - 23 9,001 9,024 - Auto 87 8 36 131 11,429 11,560 - Other 30 2 - 32 1,513 1,545 - Total $ 1,282 $ 108 $ 36 $ 1,426 $ 145,351 $ 146,777 $ - December 31, 2014 Commercial: Mortgage $ 1,345 $ 238 $ 4,924 $ 6,507 $ 67,894 $ 74,401 $ - Other 17 144 20 181 13,407 13,588 - Residential real estate 470 186 27 683 38,073 38,756 - Consumer: Equity - - - - 7,037 7,037 - Auto 20 6 19 45 10,711 10,756 - Other 8 6 10 24 1,864 1,888 - Total $ 1,860 $ 580 $ 5,000 $ 7,440 $ 138,986 $ 146,426 $ -
Schedule of Financing Receivables, Non Accrual Status [Table Text Block]	The following summarizes by loan class, the loans on nonaccrual status at September 30, 2015 and December 31, 2014: (Dollars in thousands) September 30, December 31, 2015 2014 Commercial: Mortgage $ 1,142 $ 7,200 Other - 169 Residential real estate 162 307 Consumer: Equity - 15 Auto 62 38 Other - - Total $ 1,366 $ 7,729

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	The Bancorp is also pursuing other borrowing avenues to ensure there is adequate cash to meet debt servicing needs. Balance of Frequency Loan as of Interest of Maturity Description 09/30/15 Rate Payments Status Date Loan 1 $ 1,626,109 8.00 % Monthly Interest Only 12/29/2015 Loan 2 $ 571,032 4.75 % Monthly Amortizing 11/21/2019 Loan 3 $ 410,214 4.25 % Monthly Amortizing 6/26/2019 Loan 4 $ 1,644,547 6.00 % Monthly Interest Only 8/4/2021

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule Of Defined Benefit Plan Net Periodic Benefit Cost [Table Text Block]	The following table presents the components of the net periodic pension cost of the defined benefit plan. (Dollars in thousands) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Net periodic pension cost: Interest cost on projected benefit obligation $ 14 $ 13 $ 42 $ 39 Expected return on plan assets (11) (10) (33) (30) Settlement loss - - - - Net amortization of deferral of (gains) losses 17 12 51 36 Net periodic pension cost $ 20 $ 15 $ 60 $ 45

FAIR VALUES OF FINANCIAL INST24

FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following are assets and liabilities that were accounted for or disclosed at fair value on a recurring basis: (Dollars in thousands) Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets/Liabilities Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2015 Assets: Available for sale securities: U.S. government securities $ 1,011 $ 1,011 $ - $ - U.S. government federal agencies 8,680 - 8,680 - State and local governments 2,216 - 2,216 - Mortgage backed securities 5,055 - 5,055 - Total securities available for sale $ 16,962 $ 1,011 $ 15,951 $ - December 31, 2014 Assets: Securities available for sale U.S. government securities $ 5,067 $ 5,067 $ - $ - U.S. government federal agencies 13,869 - 13,869 - State and local governments 1,035 - 1,035 - Mortgage backed securities 11,193 - 11,193 - Total securities available for sale $ 31,164 $ 5,067 $ 26,097 $ -
Fair Value Measurements, Nonrecurring [Table Text Block]	The following are assets and liabilities that were accounted for or disclosed at fair value on a nonrecurring basis: (Dollars in thousands) Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets/Liabilities Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2015 Assets: Impaired loans Commercial mortgage $ 1,932 $ - $ - $ 1,932 Commercial other - - - - Residential real estate 315 - - 315 Consumer equity - - - - Consumer auto - - - - Total impaired loans 2,247 - - 2,247 Other real estate owned Residential 78 - - 78 Commercial 298 - - 298 Total other real estate owned $ 376 $ - $ - $ 376 December 31, 2014 Assets: Impaired loans Commercial mortgage $ 9,202 $ - $ - $ 9,202 Commercial other 67 - - 67 Residential real estate 594 - - 594 Consumer equity 154 - - 154 Consumer auto 106 - - 106 Total impaired loans 10,123 - - 10,123 Other real estate owned Residential 200 - - 200 Commercial 868 - - 868 Total other real estate owned $ 1,068 $ - $ - $ 1,068
Fair Value, by Balance Sheet Grouping [Table Text Block]	The estimated fair value of the financial instruments is as follows: Fair Value Measurements Using Quoted Prices in Active Significant (Dollars in thousands) Markets Other Significant for Identical Observable Unobservable Carrying Fair Assets/Liabilities Inputs Inputs Amount Value (Level 1) (Level 2) (Level 3) September 30, 2015 Financial assets: Cash and cash equivalents $ 17,369 $ 17,369 $ - $ 17,369 $ - Investment securities 16,962 16,962 1,011 15,951 - Other investment securities 859 859 - - 859 Loans, net 144,390 147,934 - - 147,934 Accrued interest receivable 357 357 - - 357 Bank owned life insurance 3,292 3,292 - 3,292 - Financial liabilities: Noninterest-bearing deposits $ 26,227 $ 26,227 $ - $ 26,227 $ - Interest-bearing deposits 141,900 143,293 - 143,293 - Borrowed funds 4,252 4,252 - 4,252 - Accrued interest payable 1,071 1,071 - - 1,071 December 31, 2014 Financial assets: Cash and cash equivalents $ 16,633 $ 16,633 $ - $ 16,633 $ - Securities available for sale 31,164 31,164 5,067 26,097 - Other investment securities 859 859 - - 859 Loans, net 142,557 145,895 - - 145,895 Accrued interest receivable 348 348 - - 348 Financial liabilities: Noninterest-bearing deposits $ 23,153 $ 23,153 $ - $ 23,153 $ - Interest-bearing deposits 154,814 155,735 - 155,735 - Borrowed funds 6,147 6,147 - 6,147 - Accrued interest payable 1,492 1,492 - - 1,492

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Jun. 30, 2014	Sep. 30, 2015	Dec. 31, 2014
Warrant [Member]
Summary Of Significant Accounting Policies [Line Items]
Warrants Expiry Term	2 years
Warrants Expiry Date	Jun. 25, 2016
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants	$ 187
Class Of Warrant Or Right Issued	119,003	119,003	119,003
Stock Offering [Member]
Summary Of Significant Accounting Policies [Line Items]
Warrant Exercise Price, Description	the Companys common stock at 90% of the prior months closing book value.

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 177	$ 203	$ 428	$ 702
Weighted average common shares outstanding (in shares)	663,521	583,425	638,807	528,487
Basic earnings per common share (in dollars per share)	$ 0.27	$ 0.35	$ 0.67	$ 1.33
Total shares and warrants (in shares)	670,680	597,264	647,751	542,305
Diluted earnings per common share (in dollars per share)	$ 0.26	$ 0.34	$ 0.66	$ 1.29

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale, Amortized Cost	$ 16,977	$ 31,174
Available-for-sale, Gross Unrealized Gains	26	123
Available-for-sale, Gross Unrealized Losses	(41)	(133)
Available-for-sale, Fair Value	16,962	31,164
U.S. government securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale, Amortized Cost	1,009	5,049
Available-for-sale, Gross Unrealized Gains	2	18
Available-for-sale, Gross Unrealized Losses	0	0
Available-for-sale, Fair Value	1,011	5,067
U.S. government federal agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale, Amortized Cost	8,673	13,905
Available-for-sale, Gross Unrealized Gains	10	31
Available-for-sale, Gross Unrealized Losses	(3)	(67)
Available-for-sale, Fair Value	8,680	13,869
State and local governments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale, Amortized Cost	2,228	1,029
Available-for-sale, Gross Unrealized Gains	1	7
Available-for-sale, Gross Unrealized Losses	(13)	(1)
Available-for-sale, Fair Value	2,216	1,035
Mortgage backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale, Amortized Cost	5,067	11,191
Available-for-sale, Gross Unrealized Gains	13	67
Available-for-sale, Gross Unrealized Losses	(25)	(65)
Available-for-sale, Fair Value	$ 5,055	$ 11,193

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 1) $ in Thousands	Sep. 30, 2015USD ($)
Securities available-for-sale, Amortized Cost, Amounts maturing in:
One year or less	$ 1,461
After one year through five years	7,926
After five years through ten years	2,546
After ten years	5,044
Total	16,977
Securities available-for-sale, Fair Value, Amounts maturing in:
One year or less	1,464
After one year through five years	7,929
After five years through ten years	2,540
After ten years	5,029
Total	$ 16,962

INVESTMENT SECURITIES (Detail29

INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Fair value	$ 6,220	$ 5,651
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Gross unrealized losses	(18)	(18)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Fair value	2,088	8,663
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Gross unrealized Losses	(23)	(115)
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	8,308	14,314
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross unrealized losses	(41)	(133)
U.S. government federal agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Fair value	4,010	3,088
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Gross unrealized losses	(3)	(9)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Fair value	0	4,979
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Gross unrealized Losses	0	(58)
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	4,010	8,067
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross unrealized losses	(3)	(67)
State and local governments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Fair value	1,764	578
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Gross unrealized losses	(13)	(1)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Fair value	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Gross unrealized Losses	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	1,764	578
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross unrealized losses	(13)	(1)
Mortgage backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Fair value	446	1,985
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 months Gross unrealized losses	(2)	(8)
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Fair value	2,088	3,684
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or greater Gross unrealized Losses	(23)	(57)
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	2,534	5,669
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross unrealized losses	$ (25)	$ (65)

INVESTMENT SECURITIES (Detail30

INVESTMENT SECURITIES (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities Pledged as Collateral	$ 16,024,000	$ 28,793,000
Available-for-sale Securities, Sold, Amount	$ 14,300,000
Available-for-sale Securities, Sold, Weighted Average Yield	1.65%
Available-for-sale Securities, Sold, Weighted Average Maturity	3 years 10 months 24 days
Available-for-sale Securities, Purchase, Amount	$ 3,000,000
Available-for-sale Securities, Purchase, Weighted Average Yield	2.45%
Available-for-sale Securities, Purchase, Weighted Average Maturity	6 years 2 months 12 days

LOANS AND ALLOWANCE FOR LOAN 31

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance at beginning of period	$ 2,414	$ 3,900	$ 3,869	$ 4,384
Provision for loan losses	0	0	0	(186)
Total charge-offs	56	65	1,579	647
Total Recoveries	29	35	97	319
Allowance at end of period	2,387	3,870	2,387	3,870
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance at beginning of period			3,491
Total charge-offs	21	27	1,443	435
Total Recoveries	25	25	64	273
Allowance at end of period	1,925		1,925
Real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance at beginning of period			195
Total charge-offs	0	7	42	45
Total Recoveries	1	2	1	7
Allowance at end of period	263		263
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance at beginning of period			183
Total charge-offs	35	31	94	167
Total Recoveries	3	$ 8	32	$ 39
Allowance at end of period	$ 199		$ 199

LOANS AND ALLOWANCE FOR LOAN 32

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively Evaluated, Allowance for loan losses	$ 2,118		$ 2,715
Collectively Evaluated, Recorded investment in loans	144,261		135,149
Individually Evaluated, Allowance for loan losses	269		1,154
Individually Evaluated, Recorded investment in loans	2,516		11,277
Total Allowance for loan losses	2,387	$ 2,414	3,869	$ 3,870	$ 3,900	$ 4,384
Total Recorded investment in loans	146,777		146,426
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively Evaluated, Allowance for loan losses	1,750		2,422
Collectively Evaluated, Recorded investment in loans	81,728		77,651
Individually Evaluated, Allowance for loan losses	175		1,069
Individually Evaluated, Recorded investment in loans	2,107		10,338
Total Allowance for loan losses	1,925		3,491
Total Recorded investment in loans	83,835		87,989
Real estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively Evaluated, Allowance for loan losses	169		124
Collectively Evaluated, Recorded investment in loans	40,404		38,091
Individually Evaluated, Allowance for loan losses	94		71
Individually Evaluated, Recorded investment in loans	409		665
Total Allowance for loan losses	263		195
Total Recorded investment in loans	40,813		38,756
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively Evaluated, Allowance for loan losses	199		169
Collectively Evaluated, Recorded investment in loans	22,129		19,407
Individually Evaluated, Allowance for loan losses	0		14
Individually Evaluated, Recorded investment in loans	0		274
Total Allowance for loan losses	199		183
Total Recorded investment in loans	$ 22,129		$ 19,681

LOANS AND ALLOWANCE FOR LOAN 33

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 146,777	$ 146,426
Commercial mortgage [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	69,087	74,401
Commercial mortgage [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	63,109	61,047
Commercial mortgage [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,450	4,524
Commercial mortgage [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,528	8,131
Commercial mortgage [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	699
Commercial other [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	14,748	13,588
Commercial other [Member] | Pass [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	12,955	13,014
Commercial other [Member] | Special Mention [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,680	344
Commercial other [Member] | Substandard [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	113	230
Commercial other [Member] | Doubtful [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Residential real estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	40,813	38,756
Residential real estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	39,986	37,729
Residential real estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	379	430
Residential real estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	448	597
Residential real estate [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Consumer equity [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	9,024	7,037
Consumer equity [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,964	6,945
Consumer equity [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	60	77
Consumer equity [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	15
Consumer equity [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Consumer Auto [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	11,560	10,756
Consumer Auto [Member] | Pass [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	11,443	10,649
Consumer Auto [Member] | Special Mention [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	47	54
Consumer Auto [Member] | Substandard [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	70	53
Consumer Auto [Member] | Doubtful [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Consumer Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	22,129	19,681
Consumer Other [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,545	1,888
Consumer Other [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Consumer Other [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Consumer Other [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN 34

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment, With no related allowance recorded	$ 907	$ 7,438
Unpaid Principal Balance, With no related allowance recorded	1,418	7,838
Related Allowance, With no allowance recorded	0	0
Recorded Investment, With an allowance recorded	1,609	3,839
Unpaid Principal Balance, With an allowance recorded	1,727	3,961
Related Allowance, With an allowance recorded	269	1,154
Recorded Investment, Total	2,516	11,277
Unpaid Principal Balance, Total	3,145	11,799
Related Allowance, Total	269	1,154
Commercial mortgage [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, With no related allowance recorded	907	7,027
Unpaid Principal Balance, With no related allowance recorded	1,418	7,368
Related Allowance, With no allowance recorded	0	0
Recorded Investment, With an allowance recorded	1,200	3,100
Unpaid Principal Balance, With an allowance recorded	1,315	3,191
Related Allowance, With an allowance recorded	175	925
Commercial other [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, With no related allowance recorded	0	67
Unpaid Principal Balance, With no related allowance recorded	0	67
Related Allowance, With no allowance recorded	0	0
Recorded Investment, With an allowance recorded	0	144
Unpaid Principal Balance, With an allowance recorded	0	168
Related Allowance, With an allowance recorded	0	144
Residential real estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, With no related allowance recorded	0	223
Unpaid Principal Balance, With no related allowance recorded	0	278
Related Allowance, With no allowance recorded	0	0
Recorded Investment, With an allowance recorded	409	442
Unpaid Principal Balance, With an allowance recorded	412	449
Related Allowance, With an allowance recorded	94	71
Consumer equity [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, With no related allowance recorded	0	15
Unpaid Principal Balance, With no related allowance recorded	0	16
Related Allowance, With no allowance recorded	0	0
Recorded Investment, With an allowance recorded	0	153
Unpaid Principal Balance, With an allowance recorded	0	153
Related Allowance, With an allowance recorded	0	14
Consumer auto [Member] | Consumer [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, With no related allowance recorded	0	106
Unpaid Principal Balance, With no related allowance recorded	0	109
Related Allowance, With no allowance recorded	0	0
Recorded Investment, With an allowance recorded	0	0
Unpaid Principal Balance, With an allowance recorded	0	0
Related Allowance, With an allowance recorded	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN 35

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, With No Related Allowance Recorded	$ 1,486	$ 8,031	$ 3,891	$ 8,247
Total Interest Income Recognized, With No Related Allowance Recorded	6	31	43	92
Average Recorded Investment, With Related Allowance Recorded	1,606	3,334	2,933	3,309
Total Interest Income Recognized, With Related Allowance Recorded	16	13	47	40
Total Average Recorded Investment	3,092	11,365	6,824	11,556
Total Interest Income Recognized	22	44	90	132
Consumer [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, With No Related Allowance Recorded	0	0	0	0
Total Interest Income Recognized, With No Related Allowance Recorded	0	0	0	0
Average Recorded Investment, With Related Allowance Recorded	0	0	0	0
Total Interest Income Recognized, With Related Allowance Recorded	0	0	0	0
Total Average Recorded Investment	0	0	0	0
Total Interest Income Recognized	0	0	0	0
Commercial mortgage [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, With No Related Allowance Recorded	1,049	7,673	3,464	7,654
Total Interest Income Recognized, With No Related Allowance Recorded	1	29	26	86
Average Recorded Investment, With Related Allowance Recorded	1,057	2,589	2,301	2,365
Total Interest Income Recognized, With Related Allowance Recorded	11	6	33	19
Total Average Recorded Investment	2,106	10,262	5,765	10,019
Total Interest Income Recognized	12	35	59	105
Commercial other [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, With No Related Allowance Recorded	35	80	51	168
Total Interest Income Recognized, With No Related Allowance Recorded	0	1	1	2
Average Recorded Investment, With Related Allowance Recorded	0	60	66	251
Total Interest Income Recognized, With Related Allowance Recorded	0	0	0	0
Total Average Recorded Investment	35	140	117	419
Total Interest Income Recognized	0	1	1	2
Residential real estate [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, With No Related Allowance Recorded	225	145	230	242
Total Interest Income Recognized, With No Related Allowance Recorded	3	1	7	3
Average Recorded Investment, With Related Allowance Recorded	474	532	452	534
Total Interest Income Recognized, With Related Allowance Recorded	5	4	14	13
Total Average Recorded Investment	699	677	682	776
Total Interest Income Recognized	8	5	21	16
Consumer equity [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, With No Related Allowance Recorded	66	52	38	75
Total Interest Income Recognized, With No Related Allowance Recorded	1	0	5	0
Average Recorded Investment, With Related Allowance Recorded	75	153	114	157
Total Interest Income Recognized, With Related Allowance Recorded	0	3	0	8
Total Average Recorded Investment	141	205	152	232
Total Interest Income Recognized	1	3	5	8
Consumer Auto [Member] | Consumer [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, With No Related Allowance Recorded	111	81	108	108
Total Interest Income Recognized, With No Related Allowance Recorded	1	0	4	1
Average Recorded Investment, With Related Allowance Recorded	0	0	0	2
Total Interest Income Recognized, With Related Allowance Recorded	0	0	0	0
Total Average Recorded Investment	111	81	108	110
Total Interest Income Recognized	$ 1	$ 0	$ 4	$ 1

LOANS AND ALLOWANCE FOR LOAN 36

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Financing Receivable, Modifications [Line Items]
Number of TDRs		4	3	13	10
Pre-Modification Outstanding Recorded Investment	[1]	$ 520	$ 951	$ 895	$ 1,449
Post-Modification Outstanding Recorded Investment		$ 520	$ 951	$ 895	$ 1,449
Consumer Other [Member]
Financing Receivable, Modifications [Line Items]
Number of TDRs		0	0	0	1
Pre-Modification Outstanding Recorded Investment	[1]	$ 0	$ 0	$ 0	$ 1
Post-Modification Outstanding Recorded Investment		$ 0	$ 0	$ 0	$ 1
Commercial mortgage [Member]
Financing Receivable, Modifications [Line Items]
Number of TDRs		1	2	2	5
Pre-Modification Outstanding Recorded Investment	[1]	$ 309	$ 950	$ 478	$ 1,260
Post-Modification Outstanding Recorded Investment		$ 309	$ 950	$ 478	$ 1,260
Residential real estate [Member]
Financing Receivable, Modifications [Line Items]
Number of TDRs		3	0	5	2
Pre-Modification Outstanding Recorded Investment	[1]	$ 211	$ 0	$ 377	$ 186
Post-Modification Outstanding Recorded Investment		$ 211	$ 0	$ 377	$ 186
Consumer auto [Member]
Financing Receivable, Modifications [Line Items]
Number of TDRs		0	1	6	2
Pre-Modification Outstanding Recorded Investment	[1]	$ 0	$ 1	$ 40	$ 2
Post-Modification Outstanding Recorded Investment		$ 0	$ 1	$ 40	$ 2
[1]	Pre-modification balance is calculated using the loan balance on the day prior to modification as TDR.

LOANS AND ALLOWANCE FOR LOAN 37

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 6) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,426	$ 7,440
Current	145,351	138,986
Total Loans	146,777	146,426
Recorded Investment >90 Days and Accruing	0	0
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,282	1,860
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	108	580
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	36	5,000
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	32	24
Current	1,513	1,864
Total Loans	1,545	1,888
Recorded Investment >90 Days and Accruing	0	0
Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	30	8
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2	6
Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	10
Commercial mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	692	6,507
Current	68,395	67,894
Total Loans	69,087	74,401
Recorded Investment >90 Days and Accruing	0	0
Commercial mortgage [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	594	1,345
Commercial mortgage [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	98	238
Commercial mortgage [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	4,924
Commercial other [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1	181
Current	14,747	13,407
Total Loans	14,748	13,588
Recorded Investment >90 Days and Accruing	0	0
Commercial other [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1	17
Commercial other [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	144
Commercial other [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	20
Residential real estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	547	683
Current	40,266	38,073
Total Loans	40,813	38,756
Recorded Investment >90 Days and Accruing	0	0
Residential real estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	547	470
Residential real estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	186
Residential real estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	27
Consumer equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	23	0
Current	9,001	7,037
Total Loans	9,024	7,037
Recorded Investment >90 Days and Accruing	0	0
Consumer equity [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	23	0
Consumer equity [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer equity [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer Auto [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	11,560	10,756
Consumer Auto [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	131	45
Current	11,429	10,711
Total Loans	11,560	10,756
Recorded Investment >90 Days and Accruing	0	0
Consumer Auto [Member] | Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	87	20
Consumer Auto [Member] | Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	8	6
Consumer Auto [Member] | Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 36	$ 19

LOANS AND ALLOWANCE FOR LOAN 38

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 7) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	$ 1,366	$ 7,729
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	0	0
Commercial mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	1,142	7,200
Commercial other [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	0	169
Residential real estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	162	307
Consumer equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	0	15
Consumer Auto [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	$ 62	$ 38

BANK OWNED LIFE INSURANCE (Deta

BANK OWNED LIFE INSURANCE (Details Textual) $ in Millions	Sep. 30, 2015USD ($)
Bank Owned Life Insurance	$ 3
Average Yield Rate	5.50%
A.M. Best rated A insurance companies [Member] | Bank Owned Life Insurance Policy One [Member]
Bank Owned Life Insurance	$ 1.5
A.M. Best rated A insurance companies [Member] | Bank Owned Life Insurance Policy Two [Member]
Bank Owned Life Insurance	$ 1.5

BORROWINGS (Details)

BORROWINGS (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
Debt, Balance	$ 1,626,109
Debt, Maturity Date	Dec. 29, 2015
Loan 1 [Member]
Debt Instrument [Line Items]
Debt, Balance	$ 1,626,109
Debt, Interest Rate	8.00%
Debt, Frequency of Payments	Monthly
Debt, Status	Interest Only
Debt, Maturity Date	Dec. 29, 2015
Loan 2 [Member]
Debt Instrument [Line Items]
Debt, Balance	$ 571,032
Debt, Interest Rate	4.75%
Debt, Frequency of Payments	Monthly
Debt, Status	Amortizing
Debt, Maturity Date	Nov. 21, 2019
Loan 3 [Member]
Debt Instrument [Line Items]
Debt, Balance	$ 410,214
Debt, Interest Rate	4.25%
Debt, Frequency of Payments	Monthly
Debt, Status	Amortizing
Debt, Maturity Date	Jun. 26, 2019
Loan 4 [Member]
Debt Instrument [Line Items]
Debt, Balance	$ 1,644,547
Debt, Interest Rate	6.00%
Debt, Frequency of Payments	Monthly
Debt, Status	Interest Only
Debt, Maturity Date	Aug. 4, 2021

BORROWINGS (Details Textual)

BORROWINGS (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 5,000,000
Debt Conversion, Original Debt, Amount	$ 656,000	$ 0
Debt Instrument, Maturity Date	Dec. 29, 2015
Long-term Debt, Gross	$ 1,626,109
Note One [Member]
Debt Instrument [Line Items]
Debt Conversion, Original Debt, Amount	$ 2,700,000
Debt Instrument, Maturity Date	Dec. 29, 2015
Long-term Debt, Gross	$ 1,626,109
Note Two [Member]
Debt Instrument [Line Items]
Debt Conversion, Original Debt, Amount	$ 2,300,000
Debt Conversion, Converted Instrument, Shares Issued	28,675
Debt Instrument, Convertible, Conversion Price	$ 22.86
Debt Instrument, Annual Principal Payment	$ 1,000,000
Note Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,600,000

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net periodic pension cost:
Interest cost on projected benefit obligation	$ 14	$ 13	$ 42	$ 39
Expected return on plan assets	(11)	(10)	(33)	(30)
Settlement loss	0	0	0	0
Net amortization of deferral of (gains) losses	17	12	51	36
Net periodic pension cost	$ 20	$ 15	$ 60	$ 45

FAIR VALUES OF FINANCIAL INST43

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	$ 16,962	$ 31,164
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	1,011	5,067
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	15,951	26,097
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
U.S. government securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	1,011	5,067
U.S. government securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	1,011	5,067
U.S. government securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
U.S. government securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
U.S. government federal agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	8,680	13,869
U.S. government federal agencies [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
U.S. government federal agencies [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	8,680	13,869
U.S. government federal agencies [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
State and local governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	2,216	1,035
State and local governments [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
State and local governments [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	2,216	1,035
State and local governments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
Mortgage backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	5,055	11,193
Mortgage backed securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	0	0
Mortgage backed securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	5,055	11,193
Mortgage backed securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Total	$ 0	$ 0

FAIR VALUES OF FINANCIAL INST44

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 2,516	$ 11,277
Other real estate owned	376	1,068
Consumer mortgage [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,932	9,202
Commercial other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	67
Residential Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	315	594
Consumer equity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	154
Consumer auto [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	106
Residential [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	78	200
Commercial Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	298	868
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Other real estate owned	0	0
Fair Value, Inputs, Level 1 [Member] | Consumer mortgage [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 1 [Member] | Commercial other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 1 [Member] | Residential Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 1 [Member] | Consumer equity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 1 [Member] | Consumer auto [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 1 [Member] | Residential [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	0	0
Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Other real estate owned	0	0
Fair Value, Inputs, Level 2 [Member] | Consumer mortgage [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 2 [Member] | Commercial other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 2 [Member] | Residential Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 2 [Member] | Consumer equity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 2 [Member] | Consumer auto [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Fair Value, Inputs, Level 2 [Member] | Residential [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	0	0
Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,247	10,123
Other real estate owned	376	1,068
Fair Value, Inputs, Level 3 [Member] | Consumer mortgage [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,932	9,202
Fair Value, Inputs, Level 3 [Member] | Commercial other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	67
Fair Value, Inputs, Level 3 [Member] | Residential Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	315	594
Fair Value, Inputs, Level 3 [Member] | Consumer equity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	154
Fair Value, Inputs, Level 3 [Member] | Consumer auto [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	106
Fair Value, Inputs, Level 3 [Member] | Residential [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	78	200
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	$ 298	$ 868

FAIR VALUES OF FINANCIAL INST45

FAIR VALUES OF FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financial assets, Carrying Amount:
Cash and cash equivalents	$ 17,369	$ 16,633	$ 11,032	$ 15,004
Securities available for sale	16,962	31,164
Other investment securities	859	859
Loans, net	144,390	142,557
Accrued interest receivable	357	348
Bank owned life insurance	3,292
Financial liabilities, Carrying Amount:
Noninterest-bearing deposits	26,227	23,153
Interest-bearing deposits	141,900	154,814
Borrowed funds	4,252	6,147
Accrued interest payable	1,071	1,492
Financial assets, Fair Value:
Cash and cash equivalents	17,369	16,633
Securities available for sale	16,962	31,164
Other investment securities	859	859
Loans, net	147,934	145,895
Accrued interest receivable	357	348
Bank owned life insurance	3,292
Financial liabilities, Fair Value:
Noninterest-bearing deposits	26,227	23,153
Interest-bearing deposits	143,293	155,735
Borrowed funds	4,252	6,147
Accrued interest payable	1,071	1,492
Fair Value, Inputs, Level 1 [Member]
Financial assets, Carrying Amount:
Securities available for sale	1,011	5,067
Financial assets, Fair Value:
Cash and cash equivalents	0	0
Securities available for sale	1,011	5,067
Other investment securities	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Bank owned life insurance	0
Financial liabilities, Fair Value:
Noninterest-bearing deposits	0	0
Interest-bearing deposits	0	0
Borrowed funds	0	0
Accrued interest payable	0	0
Fair Value, Inputs, Level 2 [Member]
Financial assets, Carrying Amount:
Securities available for sale	15,951	26,097
Financial assets, Fair Value:
Cash and cash equivalents	17,369	16,633
Securities available for sale	15,951	26,097
Other investment securities	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Bank owned life insurance	3,292
Financial liabilities, Fair Value:
Noninterest-bearing deposits	26,227	23,153
Interest-bearing deposits	143,293	155,735
Borrowed funds	4,252	6,147
Accrued interest payable	0	0
Fair Value, Inputs, Level 3 [Member]
Financial assets, Carrying Amount:
Securities available for sale	0	0
Financial assets, Fair Value:
Cash and cash equivalents	0	0
Securities available for sale	0	0
Other investment securities	859	859
Loans, net	147,934	145,895
Accrued interest receivable	357	348
Bank owned life insurance	0
Financial liabilities, Fair Value:
Noninterest-bearing deposits	0	0
Interest-bearing deposits	0	0
Borrowed funds	0	0
Accrued interest payable	$ 1,071	$ 1,492