Melrose Bancorp (MELR) 10-K 21 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 21, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	MELR
Entity Registrant Name	MELROSE BANCORP, INC.
Entity Central Index Key	1,600,890
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,602,079
Entity Public Float			$ 31.9

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Cash and due from banks	$ 11,715	$ 11,934
Money market funds	2,077	1,605
Federal funds sold		3,315
Cash and cash equivalents	13,792	16,854
Investments in available-for-sale securities (at fair value)	31,831	45,143
Federal Home Loan Bank stock, at cost	964	437
Loans, net of allowance for loan losses of $890 at December 31, 2016 and $580 at December 31, 2015	213,165	160,303
Premises and equipment, net	1,248	1,226
Co-operative Central Bank deposit	881	881
Bank-owned life insurance	5,874	5,230
Accrued interest receivable	572	440
Deferred tax asset, net	120
Other assets	199	195
Total assets	268,646	230,709
Deposits:
Noninterest-bearing	17,586	13,400
Interest-bearing	197,180	171,127
Total deposits	214,766	184,527
Deferred tax liability, net		78
Federal Home Loan Bank advances	10,000
Other liabilities	576	559
Total liabilities	225,342	185,164
Stockholders' equity:
Common stock, par value $0.01 per share, authorized 15,000,000 shares; issued 2,602,079 shares at December 31, 2016 and 2,787,579 shares at December 31, 2015	26	28
Additional paid-in-capital	23,292	25,994
Retained earnings	21,912	20,490
Unearned compensation - ESOP (203,728 shares unallocated at December 31, 2016 and 211,274 at December 31, 2015)	(2,037)	(2,113)
Unearned compensation - restricted stock (44,300 shares non-vested at December 31, 2016)	(585)
Accumulated other comprehensive income	696	1,146
Total stockholders' equity	43,304	45,545
Total liabilities and stockholders' equity	$ 268,646	$ 230,709

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Allowance for loan losses	$ 890	$ 580
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	2,602,079	2,787,579
ESOP number of shares unallocated	203,728	211,274
Restricted Stock [Member]
Number of shares nonvested	44,300

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Interest and dividend income:
Interest and fees on loans	$ 6,551	$ 4,994
Interest and dividends on securities:
Taxable	740	846
Tax-exempt	59	31
Other interest	55	35
Total interest and dividend income	7,405	5,906
Interest expense:
Interest on deposits	1,618	1,276
Interest on Federal Home Loan Bank advances	22
Total interest expense	1,640	1,276
Net interest and dividend income	5,765	4,630
Provision for loan losses	310	60
Net interest and dividend income after provision for loan losses	5,455	4,570
Noninterest income:
Fees and service charges	76	91
Gain on sales of securities, net	1,004	409
Writedown of securities		(461)
Income on bank-owned life insurance	141	140
Other income	14	63
Total noninterest income	1,235	242
Noninterest expense:
Salaries and employee benefits	2,772	2,411
Occupancy expense	300	311
Equipment expense	37	49
Data processing expense	370	319
Advertising expense	146	143
Printing and supplies	39	53
FDIC assessment	116	111
Audits and examinations	212	130
Other professional services	328	177
Other expense	152	121
Total noninterest expense	4,472	3,825
(Loss) income before undistributed income of subsidiary and income tax (benefit) expense	2,218	987
Income tax expense	796	329
Net income	$ 1,422	$ 658
Weighted average common shares outstanding:
Basic	2,426,687	2,607,027
Diluted	2,427,498	2,607,027
Earnings per share:
Basic	$ 0.59	$ 0.25
Diluted	$ 0.59	$ 0.25

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 1,422	$ 658
Other comprehensive loss, net of tax:
Net unrealized holding gain (loss) on available-for-sale securities	285	(190)
Reclassification adjustment for net realized (gain) loss in net income	(1,004)	52
Other comprehensive loss before income tax effect	(719)	(138)
Income tax benefit	269	68
Other comprehensive loss, net of tax	(450)	(70)
Comprehensive income	$ 972	$ 588

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in- Capital [Member]	Retained Earnings [Member]	Unearned Compensation - ESOP [Member]	Unearned Compensation - RSA [Member]	Accumulated Other Comprehensive Income [Member]
Beginning balance at Dec. 31, 2014	$ 45,463	$ 28	$ 26,575	$ 19,832	$ (2,188)		$ 1,216
Beginning balance, shares at Dec. 31, 2014		2,829,579
Net income	658			658
Other comprehensive loss, net of tax	(70)						(70)
Buyback of common stock	$ (613)		(613)
Buyback of common stock, shares	(42,000)	(42,000)
Common stock held by ESOP committed to be allocated (7,546 shares annually)	$ 107		32		75
Ending balance at Dec. 31, 2015	45,545	$ 28	25,994	20,490	(2,113)		1,146
Ending balance, shares at Dec. 31, 2015		2,787,579
Net income	1,422			1,422
Other comprehensive loss, net of tax	(450)						(450)
Restricted stock awarded, value			670			$ (670)
Restricted stock awarded, shares		44,300
Restricted stock award expense	85					85
Stock option expense	106		106
Buyback of common stock	$ (3,520)	$ (2)	(3,518)
Buyback of common stock, shares	(229,800)	(229,800)
Common stock held by ESOP committed to be allocated (7,546 shares annually)	$ 116		40		76
Ending balance at Dec. 31, 2016	$ 43,304	$ 26	$ 23,292	$ 21,912	$ (2,037)	$ (585)	$ 696
Ending balance, shares at Dec. 31, 2016		2,602,079

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Common stock held by ESOP committed to be allocated, shares	7,546	7,546

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 1,422	$ 658
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net of accretion	37	42
Gain on sales of available for sale securities, net	(1,004)	(409)
Writedown of available-for-sale securities		461
Provision for loan losses	310	60
Change in net deferred loan costs	77	(29)
Change in unamortized premiums	(372)
Depreciation and amortization	85	97
Increase in accrued interest receivable	(132)	(58)
Increase in other assets	(4)	(20)
Increase (decrease) in other liabilities	17	(34)
Deferred tax expense (benefit)	71	(68)
Income on bank-owned life insurance	(141)	(140)
ESOP expense	116	107
Stock-based compensation expense	191
Net cash provided by operating activities	673	667
Cash flows from investing activities:
Purchases of available-for-sale securities	(4,991)	(15,451)
Proceeds from sales of available-for-sale securities	9,321	2,911
Proceeds from maturities and calls of available-for-sale securities	9,230	8,939
Purchase of Federal Home Loan Bank stock	(527)
Loan originations and principal collections, net	(18,286)	(23,589)
Loans purchased	(34,591)	(2,835)
Capital expenditures	(107)	(69)
Premiums paid on bank-owned life insurance	(503)	(53)
Net cash provided by (used in) investing activities	(40,454)	(30,147)
Cash flows from financing activities:
Net increase in demand deposits, NOW and savings accounts	3,969	1,366
Net increase in time deposits	26,270	16,090
Proceeds from Federal Home Loan Bank advances	10,000
Repurchase of Melrose Bancorp, Inc. Common Stock	(3,520)	(613)
Net cash provided by financing activities	36,719	16,843
Net decrease in cash and cash equivalents	(3,062)	(12,637)
Cash and cash equivalents at beginning of year	16,854	29,491
Cash and cash equivalents at end of year	13,792	16,854
Supplemental disclosures:
Interest paid	1,634	1,276
Income taxes paid	$ 644	$ 379

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NOTE 1 - NATURE OF OPERATIONS Melrose Cooperative Bank (the “Bank”) is a state chartered co-operative On October 21, 2014, in accordance with a Plan of Conversion (Conversion), Melrose Cooperative Bank completed a mutual-to-stock As set forth above, in connection with the Conversion, the Bank established and funded the Melrose Cooperative Bank Foundation (Foundation) with 106,170 shares of the Company’s common stock, plus a cash contribution of $300,000. This contribution resulted in recognition of expense of $1,362,000 in the year ended December 31, 2014 based on the $10 per share offering price, plus $300,000 of cash. The Foundation supports charitable causes and community development activities in the Bank’s area of operations. Also, in connection with the Conversion, the Bank established an employee stock ownership plan (ESOP), which purchased 226,366 shares of the Company’s common stock at a price of $10 per share. The Bank, at the time of the Conversion, established a Liquidation Account in an amount equal to the net worth of the Bank as of the date of the latest consolidated statement of financial condition contained in the final prospectus distributed in connection with the Conversion. The function of the Liquidation Account is to establish a priority on liquidation. The Liquidation Account will be maintained by the Company for the benefit of the eligible account holders who continue to maintain deposit accounts with the Bank following the conversion. Each eligible account holder shall, with respect to each deposit account, hold a related inchoate interest in a portion of the Liquidation Account balance, in relation to each deposit account balance at the eligibility record date, or to such balance as it may be subsequently reduced, as hereinafter provided. The initial Liquidation Account balance shall not be increased, and shall be subject to downward adjustment to the extent of any downward adjustment of any subaccount balance of any eligible account holder in accordance with the Regulations of the Division of Banks of the Commonwealth of Massachusetts. In the unlikely event of a complete liquidation of the Bank (and only in such event), following all liquidation payments to creditors (including those to depositors to the extent of their deposit accounts) each eligible account holder shall be entitled to receive a liquidating distribution from the Liquidation Account, in the amount of the then-adjusted subaccount balances for his or her deposit accounts then held, before any liquidating distribution may be made to any holder of the Bank’s capital stock.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies of the Company and its subsidiary conform to accounting principles generally accepted in the United States of America (GAAP) and predominant practices within the banking industry. The consolidated financial statements were prepared using the accrual basis of accounting. The significant accounting policies are summarized below to assist the reader in better understanding the consolidated financial statements and other data contained herein. BASIS OF PRESENTATION: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary the Bank, and the Bank’s wholly-owned subsidiary, MCBSC, Inc., which is used to hold investment securities. All significant intercompany accounts and transactions have been eliminated in the consolidation. USE OF ESTIMATES: In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses and the valuation of deferred tax assets. RECLASSIFICATIONS: Certain amounts in the prior year have been reclassified to be consistent with the current year’s presentation. CASH AND CASH EQUIVALENTS: For purposes of reporting cash flows, cash and cash equivalents include cash, amounts due from banks, money market funds and federal funds sold. As of December 31, 2016, the Company has total cash and cash equivalents in the following banks: Eastern Bank $815,000 which represents approximately 1.9% of total stockholders’ equity State Street Bank $2,992,000 which represents approximately 6.9% of total stockholders’ equity As of December 31, 2015, the Company has total cash and cash equivalents in the following banks: Eastern Bank $6,414,000 which represents approximately 14.0% of stockholders’ equity State Street Bank $2,993,000 which represents approximately 6.6% of stockholders’ equity SECURITIES: Investments in debt securities are adjusted for amortization of premiums and accretion of discounts computed so as to approximate the interest method. Gains or losses on sales of investment securities are computed on a specific identification basis. The Company classifies debt and equity securities into one of three categories: held-to-maturity, available-for-sale, held-to-maturity available-for-sale. • Held-to-maturity • Available-for-sale • Trading securities are carried at fair value on the consolidated balance sheets. Unrealized holding gains and losses for trading securities are included in earnings. For any debt security with a fair value less than its amortized cost basis, the Company will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, the Company will recognize a full impairment charge to earnings. For all other debt securities that are considered other-than-temporarily impaired and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses. The other-than-temporary impairment related to all other factors will be recorded in other comprehensive income. Declines in marketable equity securities below their cost that are deemed other-than-temporary are reflected in earnings as realized losses. As a member of the Federal Home Loan Bank of Boston (FHLB), the Company is required to invest in $100 par value stock of the FHLB. The FHLB capital structure mandates that members must own stock as determined by their Total Stock Investment Requirement which is the sum of a member’s Membership Stock Investment Requirement and Activity-Based Stock Investment Requirement. Management evaluates the Company’s investment in FHLB stock for other-than-temporary impairment at least on a quarterly basis and more frequently when economic or market conditions warrant such evaluation. Based on its most recent analysis of the FHLB as of December 31, 2016, management deems its investment in FHLB stock to be not other-than-temporarily impaired. LOANS: Loans receivable that management has the intent and ability to hold until maturity or payoff are reported at their outstanding principal balances adjusted for amounts due to borrowers on unadvanced loans, any charge-offs, the allowance for loan losses and any deferred fees or costs on originated loans, or unamortized premiums or discounts on purchased loans. Loan origination and commitment fees and certain direct origination costs are deferred, and the net amount amortized as an adjustment of the related loan’s yield. The Company is amortizing these amounts over the contractual lives of the related loans. Residential real estate loans are generally placed on nonaccrual when reaching 90 days past due or in process of foreclosure. All closed-end Cash receipts of interest income on impaired loans are credited to principal to the extent necessary to eliminate doubt as to the collectability of the net carrying amount of the loan. Some or all of the cash receipts of interest income on impaired loans are recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered. ALLOWANCE FOR LOAN LOSSES: The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance are confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. General Component: The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: one- The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: One- loan-to-value loan-to-value Commercial real estate: Loans in this segment are primarily income-producing properties throughout Massachusetts. The underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Loans in this segment also include loans secured by multifamily dwellings. Management periodically obtains rent rolls and continually monitors the cash flows of these loans. Construction loans: Loans in this segment primarily include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Consumer loans: Loans in this segment are generally secured and repayment is dependent on the credit quality of the individual borrower. Loans in this segment include auto loans and other consumer loans. Allocated Component: The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and one- A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). All TDRs are initially classified as impaired. Unallocated Component: An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. PREMISES AND EQUIPMENT: Land is carried at cost. Buildings and equipment are stated at cost, less accumulated depreciation and amortization. Cost and related allowances for depreciation and amortization of premises and equipment retired or otherwise disposed of are removed from the respective accounts with any gain or loss included in income or expense. Depreciation and amortization are calculated principally on the straight-line method over the estimated useful lives of the assets. Estimated lives are 15 to 40 years for buildings and 3 to 10 years for furniture and equipment. Premises and equipment are periodically evaluated for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of premises and equipment are less than its carrying amount. In that event, the Company records a loss for the difference between the carrying amount and the fair value of the asset based on quoted market prices, if applicable, or a discounted cash flow analysis. BANK-OWNED LIFE INSURANCE: The Company has purchased insurance policies on the lives of certain directors, executive officers and employees. Bank-owned life insurance policies are reflected on the consolidated balance sheets at cash surrender value. Changes in net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest ADVERTISING: The Company directly expenses costs associated with advertising as they are incurred. Advertising expense for the years ended December 31, 2016 and 2015 amounted to $146,000 and $143,000, respectively. INCOME TAXES: The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. EMPLOYEE STOCK OWNERSHIP PLAN: Compensation expense for the Employee Stock Ownership Plan (“ESOP”) is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair value of the shares during the period. The Company recognizes compensation expense based upon the Company’s estimate of the number of shares expected to be allocated by the ESOP. Unearned compensation applicable to the ESOP is reflected as a reduction of stockholders’ equity in the consolidated balance sheet. The difference between the average fair value and the cost of shares allocated by the ESOP is recorded as an adjustment to additional paid-in-capital. STOCK-BASED COMPENSATION: The Company recognizes stock-based compensation based on the grant-date fair value of the award adjusted for expected forfeitures. The Company values share-based stock option awards granted using the Black-Scholes option-pricing model. The Company recognizes compensation expense for its awards on a straight-line basis over the requisite service period for the entire award (straight-line attribution method), ensuring that the amount of compensation cost recognized at any date at least equals the portion of the grant-date fair value of the award that is vested at that time. EARNINGS PER SHARE (EPS): When presented, basic EPS is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For the purposes of computing diluted EPS, the treasury stock method is used. Unallocated ESOP shares and unearned shares of restricted stock are not deemed outstanding for earnings per share calculations. The calculation of basic and diluted EPS is presented below. Year Ended Year Ended (Dollars in Thousands) Net income $ 1,422 $ 658 Basic Common Shares: Weighted average common shares outstanding 2,660,521 2,825,847 Weighted average shares - unearned restricted stock (26,333 ) — Weighted average unallocated ESOP shares (207,501 ) (218,820 ) Basic weighted average shares outstanding 2,426,687 2,607,027 Dilutive effect of unvested restricted stock awards 811 — Diluted weighted average shares outstanding 2,427,498 2,607,027 Basic earnings per share $ 0.59 $ 0.25 Diluted earnings per share (1) $ 0.59 $ 0.25 (1) Options to purchase 224,200 shares, representing all outstanding options, were not included in the computation of diluted earnings per share for the year ended December 31, 2016 because the effect is anti-dilutive. As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock. FAIR VALUES OF FINANCIAL INSTRUMENTS: Accounting Standards Codification (ASC) 825, “Financial Instruments,” requires that the Company disclose the estimated fair value for its financial instruments. Fair value methods and assumptions used by the Company in estimating its fair value disclosures are as follows: Cash and cash equivalents: The carrying amounts reported in the balance sheets for cash and cash equivalents approximate those assets’ fair values. Securities: Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Loans receivable: For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. Deposit liabilities: The fair values disclosed for demand deposits (e.g., interest and non-interest Federal Home Loan Bank advances: The fair values of Federal Home Loan Bank advances are estimated using discounted cash flow analyses based on the current incremental borrowing rates for similar types of borrowing arrangements. Off-balance RECENT ACCOUNTING PRONOUNCEMENTS: As an “emerging growth company,” as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. Accordingly, the consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards. As of December 31, 2016, there is no significant difference in the comparability of the consolidated financial statements as a result of this extended transition period. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, 2015-14 2014-09 In January 2016, FASB issued ASU 2016-01, 825-10): 1. Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, the entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same manner. 2. Simplify the impairment assessment of equity investments without determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3. Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4. Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5. Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6. Require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7. Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale Under the extended transition period for an emerging growth company, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption of item 5 above is permitted for fiscal years or interim periods for which financial statements have not been issued. Early adoption of all other amendments in this ASU is not permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, In March 2016, the FASB issued ASU 2016-09, paid-in-capital 2016-09 2016-09 In June 2016, the FASB issued ASU 2016-13, available-for-sale 2016-13 In August 2016, the FASB issued ASU 2016-15, 2016-15 In November 2016, the FASB issued ASU 2016-18 beginning-of-period end-of-period 2016-18

Investments in Available-For-Sa

Investments in Available-For-Sale Securities	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments in Available-For-Sale Securities	NOTE 3 - INVESTMENTS IN AVAILABLE-FOR-SALE Debt and equity securities have been classified in the consolidated balance sheets according to management’s intent. The amortized cost basis of securities and their approximate fair values are as follows as of December 31: Amortized Gross Gross Fair Value (In Thousands) December 31, 2016: U.S. Government and federal agency obligations $ 5,819 $ — $ 131 $ 5,688 Debt securities issued by states of the United States and political subdivisions of the states 2,695 2 41 2,656 Corporate bonds and notes 12,537 17 61 12,493 Preferred stock 3,000 20 82 2,938 Mortgage-backed securities 1,498 — 66 1,432 Marketable equity securities 5,072 1,557 5 6,624 $ 30,621 $ 1,596 $ 386 $ 31,831 December 31, 2015: U.S. Government and federal agency obligations $ 8,851 $ 7 $ 88 $ 8,770 Debt securities issued by states of the United States and political subdivisions of the states 2,408 8 18 2,398 Corporate bonds and notes 13,540 12 44 13,508 Preferred stock 3,000 31 2 3,029 Mortgage-backed securities 2,232 — 66 2,166 Marketable equity securities 13,183 2,125 36 15,272 $ 43,214 $ 2,183 $ 254 $ 45,143 The scheduled maturities of debt securities as of December 31, 2016 are as follows: Fair (In Thousands) Due within one year $ 3,170 Due after one year through five years 13,073 Due after five years through ten years 1,946 Due after ten years 3,164 Mortgage-backed securities 1,432 Asset-backed securities 1,491 $ 24,276 Not included in the maturity table above is preferred stock with no stated maturity of $931,000 at December 31, 2016. There were no securities of issuers whose aggregate carrying amount exceeded 10% of stockholders’ equity at December 31, 2016. During the year ended December 31, 2016, proceeds from the sale of available-for-sale available-for-sale The Company had no pledged securities as of December 31, 2016 and December 31, 2015. The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more, and are not other-than-temporarily impaired, are as follows as of December 31: Less than 12 months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) December 31, 2016 U.S. government and federal agency obligations $ 4,359 $ 59 $ 1,328 $ 72 $ 5,687 $ 131 Debt securities issued by states of the United States and political subdivisions of the states 1,760 28 245 13 2,005 41 Corporate bonds and notes 5,784 61 — — 5,784 61 Preferred stock 1,918 82 — — 1,918 82 Mortgage-backed securities 370 8 1,062 58 1,432 66 Marketable equity securities 2,235 5 — — 2,235 5 Total temporarily impaired securities $ 16,426 $ 243 $ 2,635 $ 143 $ 19,061 $ 386 December 31, 2015 U.S. government and federal agency obligations $ 5,366 $ 59 $ 1,403 $ 29 $ 6,769 $ 88 Debt securities issued by states of the United States and political subdivisions of the states 1,176 9 505 9 1,681 18 Corporate bonds and notes 9,012 38 993 6 10,005 44 Preferred stock 998 2 — — 998 2 Mortgage-backed securities 1,608 40 558 26 2,166 66 Marketable equity securities 5,160 36 — — 5,160 36 Total temporarily impaired securities $ 23,320 $ 184 $ 3,459 $ 70 $ 26,779 $ 254 December 31, 2016 The Company conducts periodic reviews of investment securities with unrealized losses to evaluate whether the impairment is other-than-temporary. The Company’s review for impairment generally includes a determination of the cause, severity and duration of the impairment; and an analysis of both positive and negative evidence available. The Company also determines if it has the ability and intent to hold the investment for a period of time sufficient to allow for anticipated recovery to cost basis. Based on the Company’s recent review of securities in the investment portfolio, management deemed securities with unrealized losses as of December 31, 2016 to be temporarily impaired and has the ability and intent to hold these securities until recovery to cost basis occurs. A summary of this review is as follows. Unrealized losses on U.S. Government and federal agency obligations amounted to $131,000 and consisted of eleven securities; seven of which the unrealized losses were each individually less than 2% of amortized cost basis, and four had unrealized losses between 3% and 6% of amortized cost basis. Unrealized losses on municipal bonds amounted to $41,000 and consisted of six securities; four of which the unrealized losses were each individually less than 2% of amortized cost basis, and two had unrealized losses between 4% and 5% of amortized cost basis. Unrealized losses on corporate bonds and notes amounted to $61,000 and consisted of ten securities, all of which were 3% or less of amortized cost basis. Unrealized losses on mortgage-backed securities amounted to $66,000 and consisted of four securities; all with unrealized losses from 2% to 7% of amortized cost basis. The unrealized losses on all of these debt securities were primarily due to changes in interest rates. In regard to corporate debt, the Company also considers the issuer’s current financial condition and its ability to make future scheduled interest and principal payments on a timely basis in assessing other-than-temporary impairment. The Company’s investment in impaired preferred stocks consists of two investments which had unrealized losses of $13,000, or 1.3% of amortized cost, and $69,000, or 6.9% of amortized cost, respectively. The losses were due to changes in interest rates. The Company reviewed these investments for impairment by considering factors such as, among other things, the financial condition and ability of the issuer to continue to pay dividends, and any specific events that may affect the operations of the issuer. Unrealized losses on marketable equity securities consist of two mutual funds. Both mutual funds invest mainly in short-term bonds, with unrealized losses amounting to $5,000, or 0.2% of cost basis. The Company considered several factors in reviewing these mutual fund investments, including underlying investment performance, composition and rating of the securities in the mutual fund, and management of the mutual funds. During 2016, there were there were no available-for-sale

Loans

Loans	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Loans	NOTE 4 - LOANS Loans consisted of the following: December 31, December 31, 2016 2015 (In Thousands) Real estate loans: One-to $ 168,111 $ 132,237 Home equity loans and lines of credit 10,720 10,862 Commercial 23,011 13,251 Construction 11,738 4,303 Consumer loans 71 121 Total loans 213,651 160,774 Allowance for loan losses (890 ) (580 ) Deferred loan costs, net 32 109 Unamortized premiums 372 — Net loans $ 213,165 $ 160,303 Certain directors and executive officers of the Company and companies in which they have significant ownership interest were customers of the Bank during the year ended December 31, 2016. Total loans to such persons and their companies amounted to $1,531,000 as of December 31, 2016. During the year ended December 31, 2016, $122,000 of advances were made and principal payments totaled $239,000. The following tables set forth information on the allowance for loan losses at and for the years ended December 31, 2016 and 2015: Real Estate: One- to four- Home Equity Loans Commercial Construction Consumer Unallocated Total (In Thousands) Year Ended December 31, 2016 Allowance for loan losses: Beginning balance $ 331 $ 49 $ 150 $ 40 $ 1 $ 9 $ 580 Charge offs — — — — — — — Recoveries — — — — — — — Provision 87 — 126 77 — 20 310 Ending balance $ 418 $ 49 $ 276 $ 117 $ 1 $ 29 $ 890 At December 31, 2016 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 418 49 276 117 1 29 890 Total allowance for loan losses ending balance $ 418 $ 49 $ 276 $ 117 $ 1 $ 29 $ 890 Loans: Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 168,111 10,720 23,011 11,738 71 — 213,651 Total loans ending balance $ 168,111 $ 10,720 $ 23,011 $ 11,738 $ 71 $ — $ 213,651 Real Estate: One- to four- Home Equity Loans Commercial Construction Consumer Unallocated Total (In Thousands) Year Ended December 31, 2015 Allowance for loan losses: Beginning balance $ 414 $ 58 $ 25 $ 21 $ 1 $ 1 $ 520 Charge offs — — — — — — — Recoveries — — — — — — — (Benefit) provision (83 ) (9 ) 125 19 — 8 60 Ending balance $ 331 $ 49 $ 150 $ 40 $ 1 $ 9 $ 580 At December 31, 2015 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 331 49 150 40 1 9 580 Total allowance for loan losses ending balance $ 331 $ 49 $ 150 $ 40 $ 1 $ 9 $ 580 Loans: Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 132,237 10,862 13,251 4,303 121 — 160,774 Total loans ending balance $ 132,237 $ 10,862 $ 13,251 $ 4,303 $ 121 $ — $ 160,774 The following tables set forth information regarding nonaccrual loans and past-due 30 - 59 60 - 90 Days or Total Past Total Total 90 Days or More Non- (In Thousands) At December 31, 2016: Real estate loans: One-to $ 518 $ 9 $ — $ 527 $ 167,584 $ 168,111 $ — $ 9 Home equity loans and lines of credit — — — — 10,720 10,720 — — Commercial — — — — 23,011 23,011 — — Construction — — — — 11,738 11,738 — — Consumer loans — — — — 71 71 — — Total $ 518 $ 9 $ — $ 527 $ 213,124 $ 213,651 $ — $ 9 At December 31, 2015 Real estate loans: One-to $ 600 $ — $ 68 $ 668 $ 131,569 $ 132,237 $ — $ 68 Home equity loans and lines of credit — — 197 197 10,665 10,862 — 197 Commercial — — — — 13,251 13,251 — — Construction — — — — 4,303 4,303 — — Consumer loans — — — — 121 121 — — Total $ 600 $ — $ 265 $ 865 $ 159,909 $ 160,774 $ — $ 265 As of and during the years ended December 31, 2016 and 2015 there were no loans that met the definition of an impaired loan in ASC 310-10-35. During the years ended December 31, 2016 and 2015 there were no loans that met the definition of a troubled debt restructured loan in ASC 310-10-50. At December 31, 2016, there was one consumer mortgage loan collateralized by residential real estate property in the process of foreclosure with a recorded investment of $321,000. As of December 31, 2016, the Bank had no foreclosed real estate owned. Credit Quality Information In early 2016, the Company implemented a new 10 point internal loan rating system for commercial real estate, construction and commercial loans. For residential real estate and consumer loans, the Company initially assesses credit quality based upon the borrower’s ability to pay and subsequently monitors these loans based on the borrower’s ability to pay. The new risk rating system will assist the Company in better understanding the risk inherent in each loan. The new loan ratings are as follows: Loans rated 1: Secured by cash collateral or highly liquid diversified marketable securities. Loans rated 2 – 3: Strongest quality loans in the portfolio not secured by cash. Defined by consistent, solid profits, strong cash flow and are well secured. Very little vulnerability to changing economic conditions and compare favorably to their industry. Loans rated 4 – 5: These loans are pass rated. Borrower will show average to strong cash flow, strong to adequate collateral coverage, and will have a generally sound balance sheet. Inclusive in the 5 rating are all open and closed – end residential and retail loans which are paying as agreed. Loans rated 6: Loans with above average risk but still considered pass. Generally this rating is reserved for projects currently under construction or borrowers with modest cash flow, although still meeting all loan covenants. Loans rated 6W: Contain all the risks of a 6 rated credit but have an inherent weakness that requires close monitoring. This rating also generally includes open and closed-end Loans rated 7: Potential weaknesses which warrant management’s close attention. If weaknesses are uncorrected, repayment prospects may be weakened. This is typically a transitional rating. Loans rated 8: Considered substandard. There is a likelihood of loss if the deficiencies are not corrected. Generally, open and closed – end retail loans, as well as automotive and other consumer loans past 90 cumulative days from the contractual due date should be classified as an 8. Loans rated 9: Borrower has a pronounced weakness and all current information indicates collection or liquidation of all debts in full is improbable and highly questionable. Loans rated 10: Uncollectable and a loss will be taken. Open and closed – end loans secured by residential real estate that are beyond 180 days past due will be assessed for value and any outstanding loan balance in excess of said value, less cost to sell, will be classified as a 10. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate and construction loans over $350,000. As of December 31, 2016 (unaudited), one- As of December 31, 2015, one-

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Premises and Equipment	NOTE 5 - PREMISES AND EQUIPMENT The following is a summary of premises and equipment as of December 31: December 31, December 31, 2016 2015 (In Thousands) Land $ 393 $ 393 Building and improvements 1,840 1,817 Furniture and equipment 549 514 Data processing equipment 303 254 3,085 2,978 Accumulated depreciation (1,837 ) (1,752 ) $ 1,248 $ 1,226

Deposits

Deposits	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Deposits	NOTE 6 - DEPOSITS The aggregate amount of time deposit amounts in denominations that meet or exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit of $250,000 as of December 31, 2016 and 2015 amounted to $23,434,000 and $16,876,000, respectively. For time deposits as of December 31, 2016 the scheduled maturities for each of the following years ended December 31 are as follows: (In Thousands) 2017 $ 63,523 2018 45,381 2019 1,825 2020 1,253 2021 1,624 $ 113,606 Deposits from related parties held by the Bank as of December 31, 2016 and 2015 amounted to $3,782,000 and $4,030,000, respectively.

Borrowed Funds

Borrowed Funds	12 Months Ended
	Dec. 31, 2016
Brokers and Dealers [Abstract]
Borrowed Funds	NOTE 7 - BORROWED FUNDS The Bank is a member of the Federal Home Loan Bank of Boston (FHLB). Borrowings from the FHLB are secured by a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one-to-four Co-Operative

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 8 - INCOME TAXES The components of income tax expense are as follows for the years ended December 31: Years Ended December 31, 2016 2015 (In Thousands) Current: Federal $ 543 $ 327 State 182 70 725 397 Deferred: Federal 80 (96 ) State (9 ) (2 ) Change in valuation allowance — 30 71 (68 ) Total income tax expense $ 796 $ 329 The reasons for the differences between the statutory federal income tax rate and the effective tax rates are summarized as follows for the years ended December 31: Years Ended December 31, 2016 2015 % of Income % of Income Federal income tax at statutory rate 34.0 % 34.0 % State tax, net of federal tax benefit 5.2 4.5 Dividends received deduction (1.3 ) (3.3 ) Bank-owned life insurance (2.2 ) (4.8 ) Stock compensation 1.1 0.0 Tax exempt income (1.3 ) (1.7 ) ESOP 0.6 1.1 Other 0.2 0.5 Change in valuation allowance — 3.0 Effective tax rates 35.9 % 33.3 % The Company had gross deferred tax assets and gross deferred tax liabilities as follows as of December 31: December 31, 2016 2015 (In Thousands) Deferred tax assets: Allowance for loan losses $ 356 $ 231 Interest on non-performing — 5 Deferred compensation 83 90 Security writedowns 27 164 ESOP 12 1 Stock based compensation 47 — Accrued expenses 13 — Contribution to Melrose Cooperative Bank Foundation 406 483 Gross deferred tax assets 944 974 Valuation allowance (90 ) (90 ) Gross deferred tax assets, net of valuation allowance 854 884 Deferred tax liabilities: Accelerated depreciation (220 ) (179 ) Net unrealized holding gain on available-for-sale (514 ) (783 ) Gross deferred tax liabilities (734 ) (962 ) Net deferred tax asset (liability) $ 120 $ (78 ) In connection with its initial public offering, the Company donated common stock and cash in the amount of $1,362,000 to the Melrose Cooperative Bank Foundation. As of December 31, 2016, the Company had a remaining gross deferred tax asset of $406,000. A valuation allowance of $90,000 has been established against the deferred tax assets related to the uncertain utilization of the charitable contribution carryforward created primarily by the donation to the Foundation. The judgment applied by management considers the likelihood that sufficient taxable income will be realized within the carryforward period in light of its tax planning strategies and changes in market conditions. The charitable contribution carryforward of $1,007,000 at December 31, 2016 expires in 2019 and the related tax benefit, net of the valuation allowance, included in net deferred tax assets is $316,000. It is the Company’s policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. As of December 31, 2016 and 2015, there were no material uncertain tax positions related to federal and state income tax matters. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for the years ended December 31, 2013 through December 31, 2016. Interest and penalties, if any, are recorded as income tax expense.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Benefit Plans	NOTE 9 - BENEFIT PLANS 401(k) Savings Plan The Company participates in a 401(k) savings plan through Pentegra. Eligible employees may contribute up to 100% of their salary, subject to IRS limitations, which can be matched up to 5% by the Company on a dollar for dollar basis. The Company’s expense under this 401(k) plan was $80,000 and $70,000 for the years ended December 31, 2016 and 2015, respectively. Supplemental Executive Retirement Benefits The Bank adopted Supplemental Executive Retirement Agreements for two executive officers. These agreements were designed to supplement the benefits available through the Bank’s retirement plan. These agreements were frozen as of February 1, 2014. During 2015, payments totaling $88,000 were made to participants under the plan, and the remaining liability of $88,000 was paid out to participants under the plan in January 2016. Effective January 1, 2014, the Company established a Supplemental Executive Retirement Plan (SERP Plan). Under the SERP Plan, on a yearly basis, the Company shall credit the participant’s SERP account with the annual contribution specified in the participant’s participation agreement, based on a fixed percent of each participant’s annual salary. The SERP account is an unfunded liability due to each participant and is accruing interest. For the plan years ended December 31, 2016 and 2015, the related liability amounted to $208,000 and $138,000, respectively, and is included in other liabilities. Participants vest in full upon attaining five years of service from the date of participation, or attainment of benefit age, or following a change in control. For each of the years ended December 31, 2016 and 2015, expense recognized under the plan for these benefits was $70,000. Employee Stock Ownership Plan The Company has adopted a tax-qualified The ESOP funded its stock purchase through a loan from the Company equal to 100% of the aggregate purchase price of the common stock. The ESOP trustee will repay the loan principally through the Bank’s contributions to the ESOP and, possibly, dividends paid on common stock held by the plan over the loan term of 29.2 years. The trustee holds the shares purchased in a loan suspense account and will release the shares from the suspense account on a pro rata basis as it repays the loan. The trustee will allocate the shares released among active participants on the basis of each active participant’s proportional share of compensation compared to all active participants for the pan year. Participants vest in their benefit at a rate of 20% per year and will be fully vested upon completion of five years of credited service. Generally, participants will receive distributions from the ESOP upon separation from service. The trustee will reallocate any unvested shares of common stock forfeited by participants upon their separation from service among the remaining participants in the plan. Eligible employees who were employed with the Bank shall receive credit for vesting purposes for each year of continuous employment prior to adoption of the ESOP. The Company records compensation expense for the ESOP at an amount equal to the shares allocated by the ESOP multiplied by the average fair market value of shares during the period. At December 31, 2016, the remaining principal balance on the ESOP debt was $2,070,000 and the number of shares held by the ESOP was 226,366. Total compensation expense recognized in connection with the ESOP was $116,000 and $107,000 for the years ended December 31, 2016 and 2015, respectively. The remaining principal balance on the ESOP debt as of December 31, 2016 is payable as follows: Years Ending December 31, Amount (In Thousands) 2017 $ 49 2018 51 2019 52 2020 54 2021 56 Thereafter 1,808 $ 2,070 Shares held by the ESOP are as follows as of December 31: 2016 2015 Allocated 22,638 15,092 Unallocated 203,728 211,274 Shares held by ESOP 226,366 226,366 The fair value of unallocated ESOP shares was $3,657,000 at December 31, 2016. 2015 Equity Incentive Plan Melrose Bancorp, Inc. adopted the Melrose Bancorp, Inc. 2015 Equity Incentive Plan (the “2015 Equity Incentive Plan”) to provide directors, officers, and employees of the Company and Melrose Cooperative Bank with additional incentives to promote growth and performance of the Company and Melrose Cooperative Bank. The 2015 Equity Incentive Plan authorizes the issuance or delivery to participants of up to 396,140 shares of Melrose Bancorp, Inc. common stock pursuant to grants of incentive and non-statutory On May 12, 2016, the Company issued 44,300 shares of common stock restricted stock awards. The restricted stock award expense is based on $15.13 per share, and shares vest over 5 years commencing one year from the grant date. The total expense recognized in connection with the restricted stock awards was $85,000 for the year ended December 31, 2016, and the recognized tax benefit was $34,000. On May 12, 2016, the Company granted 224,200 stock options. The stock options have an exercise price of $15.13 per share, and vest ratably over 5 years commencing one year from the date of the grant. The stock option expense is equal to the number of options expected to vest each year times the grant date fair value of the shares as determined using the Black-Scholes option pricing model. The Company completed an analysis of seven peer banks to determine the expected volatility of 20.24%. The exercise price used in the pricing model was $15.13, the closing price of the stock on the grant date. The expected life was estimated to be 6.5 years and the 7 year treasury rate of 1.54% was used as the annual risk free interest rate. The expected forfeiture rate is 0%. Using these variables, the estimated fair value is $3.71 per share. The aggregate intrinsic value is $632,000 as of December 31, 2016. The total expense recognized in connection with the stock options was $106,000 for the year ended December 31, 2016, and the recognized tax benefit was $13,000. At December 31, 2016 the unrecognized share based compensation expense related to the 44,300 unvested restricted stock awards amounted to $585,000. The unrecognized expense will be recognized over a weighted average life of 4.3 years. At December 31, 2016, none of the 224,200 stock options outstanding are exercisable, and the remaining contractual life is 9.3 years. The unrecognized expense related to the unvested options is $725,000, and will be recognized over a weighted average life of 4.3 years. Other Agreements The Company has entered into employment agreements and change in control agreements with certain executive officers which provide the executive officers with severance payments based on salary, and the continuation of other benefits, upon a change in control as defined in the agreements.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2016
Investments, All Other Investments [Abstract]
Financial Instruments	NOTE 10 - FINANCIAL INSTRUMENTS The Company is party to financial instruments with off-balance The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments is represented by the contractual amounts of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance Commitments to originate loans are agreements to lend to a customer provided there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The Company evaluates each customer’s creditworthiness on a case-by-case Financial instrument liabilities with off-balance December 31, December 31, 2016 2015 (In Thousands) Commitments to originate loans $ 7,864 $ 5,214 Unused lines of credit 13,742 11,986 Due to borrowers on unadvanced construction loans 3,852 1,796 $ 25,458 $ 18,996

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 11 - FAIR VALUE MEASUREMENTS ASC 820-10, contract-by-contract In accordance with ASC 820-10, Level 1 - Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Level 1 also includes U.S. Treasury, other U.S. Government and agency mortgage-backed securities that are traded by dealers or brokers in active markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 - Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities. Level 3 - Valuations for assets and liabilities that are derived from other methodologies, including option pricing models, discounted cash flow models and similar techniques, are not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets and liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s financial assets and financial liabilities carried at fair value for December 31, 2016 and December 31, 2015. The Company did not have any significant transfers of assets between levels 1 and 2 of the fair value hierarchy during the years ended December 31, 2016 and 2015. The Company’s marketable equity securities and preferred stocks are generally classified within level 1 of the fair value hierarchy because they are valued using quoted market prices. The Company’s investment in debt securities available-for-sale Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, The Company’s impaired loans, if any, are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using level 2 inputs based upon appraisals of similar properties obtained from a third party. For level 3 inputs, fair value is based upon management estimates of the value of the underlying collateral or the present value of the expected cash flows. The following summarizes assets measured at fair value on a recurring basis as of December 31: Fair Value Measurements at Reporting Date Using: Total Quoted Prices in Significant Significant (In Thousands) December 31, 2016: U.S. Government and federal agency obligations $ 5,688 $ — $ 5,688 $ — Debt securities issued by states of the United States and political subdivisions of the states 2,656 — 2,656 — Corporate bonds and notes 12,493 — 12,493 — Preferred stock 2,938 2,938 — — Mortgage-backed securities 1,432 — 1,432 — Marketable equity securities 6,624 6,624 — — Totals $ 31,831 $ 9,562 $ 22,269 $ — December 31, 2015: U.S. Government and federal agency obligations $ 8,770 $ — $ 8,770 $ — Debt securities issued by states of the United States and political subdivisions of the states 2,398 — 2,398 — Corporate bonds and notes 13,508 — 13,508 — Preferred stock 3,029 3,029 — — Mortgage-backed securities 2,166 — 2,166 — Marketable equity securities 15,272 15,272 — — Totals $ 45,143 $ 18,301 $ 26,842 $ — Under certain circumstances the Company makes adjustments to fair value for its assets and liabilities although they are not measured at fair value on an ongoing basis. At December 31, 2016 and 2015, there were no financial instruments carried on the consolidated balance sheet for which a nonrecurring change in fair value has been recorded. The estimated fair values of the Company’s financial instruments, all of which are held or issued for purposes other than trading, are as follows: December 31, 2016 Carrying Fair Value Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 13,792 $ 13,792 $ — $ — $ 13,792 Available-for-sale 31,831 9,562 22,269 — 31,831 Federal Home Loan Bank stock 964 964 — — 964 Loans, net 213,165 — — 213,582 213,582 Co-operative 881 881 — — 881 Accrued interest receivable 572 572 — — 572 Financial liabilities: Deposits 214,766 — 215,443 — 215,443 FHLB advances 10,000 — 9,930 — 9,930 December 31, 2015 Carrying Fair Value Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 16,854 $ 16,854 $ — $ — $ 16,854 Available-for-sale 45,143 18,301 26,842 — 45,143 Federal Home Loan Bank stock 437 437 — — 437 Loans, net 160,303 — — 161,206 161,206 Co-operative 881 881 — — 881 Accrued interest receivable 440 440 — — 440 Financial liabilities: Deposits 184,527 — 185,170 — 185,170 The carrying amounts of financial instruments shown in the above table are included in the consolidated balance sheets under the indicated captions. Accounting policies related to financial instruments are described in Note 2.

Other Comprehensive Loss

Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Other Comprehensive Loss	NOTE 12 - OTHER COMPREHENSIVE LOSS Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the stockholders’ equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income. The components of other comprehensive loss included in stockholders’ equity are as follows: For the years ended December 31, 2016 2015 (In Thousands) Net unrealized holding gain (loss) on available-for-sale $ 285 $ (190 ) Reclassification adjustment for net realized (gain) loss in net income (1) (1,004 ) 52 Other comprehensive loss before income tax effect (719 ) (138 ) Income tax benefit 269 68 Other comprehensive loss, net of tax $ (450 ) $ (70 ) (1) Reclassification adjustments include net realized securities gains and losses. Realized gains and losses have been reclassified out of accumulated other comprehensive income and affect certain captions in the consolidated statements of income as follows: pre-tax Accumulated other comprehensive income as of December 31, 2016 and 2015 consists of net unrealized holding gains on available-for-sale

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Regulatory Matters	NOTE 13 - REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance Effective January 1, 2015, (with a phase-in Management believes, as of December 31, 2016, that the Bank meets all capital adequacy requirements to which it is subject. As of December 31, 2016, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum Common Equity Tier 1 risked-based, total risk-based, Tier 1 risk-based and Tier 1 leverage capital ratios as set forth in the following table. There were no conditions or events since that notification that management believes have changed the Bank’s category. The Bank’s actual capital amounts and ratios are also presented in the table. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) As of December 31, 2016: Total Capital (to Risk Weighted Assets) $ 35,236 21.09 % $ 13,368 8.0 % $ 16,710 10.0 % Tier 1 Capital (to Risk Weighted Assets) 33,648 20.14 10,026 6.0 13,368 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 33,648 20.14 7,519 4.5 10,861 6.5 Tier 1 Capital (to Average Assets) 33,648 13.58 9,909 4.0 12,386 5.0 As of December 31, 2015: Total Capital (to Risk Weighted Assets) $ 33,580 24.78 % $ 10,839 8.0 % $ 13,549 10.0 % Tier 1 Capital (to Risk Weighted Assets) 32,060 23.66 8,129 6.0 10,839 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 32,060 23.66 6,097 4.5 8,807 6.5 Tier 1 Capital (to Average Assets) 32,060 14.45 8,877 4.0 11,096 5.0

Common Stock Repurchases

Common Stock Repurchases	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Common Stock Repurchases	NOTE 14 - COMMON STOCK REPURCHASES From time to time, our board of directors has authorized stock repurchase plans. In general, stock repurchase plans allow us to proactively manage our capital position and return excess capital to shareholders. Shares purchased under such plans also provide us with shares of common stock necessary to satisfy obligations related to stock compensation awards. In November 2015 , In 2016, 229,800 shares of common stock were repurchased at an average cost of $15.32. In 2015, 42,000 shares of common stock were repurchased at an average cost of $14.60.

Significant Group Concentration

Significant Group Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Significant Group Concentrations of Credit Risk	NOTE 15 - SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK Most of the Bank’s business activity is with customers located within the Commonwealth of Massachusetts. There are no concentrations of credit to borrowers that have similar economic characteristics. The majority of the Bank’s loan portfolio is comprised of loans collateralized by real estate located in the Commonwealth of Massachusetts.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	NOTE 16 - SUBSEQUENT EVENTS The Company borrowed an additional $3 million, with a three year term at a fixed interest rate of 1.89% from the FHLB in January 2017.

Condensed Parent Company Only F

Condensed Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Parent Company Only Financial Statements	NOTE 17 - CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS MELROSE BANCORP, INC. PARENT COMPANY ONLY BALANCE SHEETS (In Thousands) December 31, 2016 2015 Assets Non-interest bearing deposit in the Bank $ 1,881 $ 5,170 Money market funds 1,558 645 Cash and cash equivalents 3,439 5,815 Investments in available-for-sale securities (at fair value) 2,980 3,835 Investment in subsidiary, Melrose Cooperative Bank 34,399 33,246 Loan receivable ESOP 2,070 2,116 Accrued interest receivable 5 4 Deferred tax assets 388 418 Other assets 147 111 Total assets $ 43,428 $ 45,545 Liabilities and Stockholders’ Equity Other liabilities $ 124 $ — Stockholders’ equity 43,304 45,545 Total liabilities and stockholders’ equity $ 43,428 $ 45,545 MELROSE BANCORP, INC. PARENT COMPANY ONLY STATEMENTS OF INCOME (In Thousands) For the year ended For the year ended December 31, 2016 December 31, 2015 Interest and dividend income: Interest on ESOP loan $ 69 $ 70 Interest and dividends on securities 71 89 Total interest and dividend income 140 159 Noninterest expense: Salaries and employee benefits 191 — Other expenses 1 — Total noninterest expense 192 — (Loss) income before undistributed income of subsidiary and income tax (benefit) expense (52 ) 159 Undistributed income of subsidiary 1,472 589 Income before income taxes 1,420 748 Income tax (benefit) expense (2 ) 90 Net income $ 1,422 $ 658 MELROSE BANCORP, INC. PARENT COMPANY ONLY STATEMENT OF CASH FLOWS (In Thousands) For the year ended For the year ended December 31, 2016 December 31, 2015 Cash flows from operating activities: Net income $ 1,422 $ 658 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of securities, net of accretion 31 13 Increase in accrued interest receivable (1 ) (1 ) Deferred tax expense 29 71 Increase in other assets (36 ) (97 ) Increase in other liabilities 124 Stock based compensation expense 191 — Equity in undistributed earnings of subsidiary (1,472 ) (589 ) Net cash provided by operating activities 288 55 Cash flows from investing activities: Purchases of available-for-sale securities — (1,945 ) Proceeds from maturities of available-for-sale securities 810 923 Repayment of principal on ESOP loan 46 46 Net cash provided by (used in) investing activities 856 (976 ) Cash flows from financing activities: Cash paid for stock repurchases (3,520 ) (613 ) Net cash used in financing activities (3,520 ) (613 ) Net decrease in cash and cash equivalents (2,376 ) (1,534 ) Cash and cash equivalents at beginning of year 5,815 7,349 Cash and cash equivalents at end of year $ 3,439 $ 5,815

Quarterly Data (Unaudited)

Quarterly Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Data (Unaudited)	NOTE 18 - QUARTERLY DATA (UNAUDITED) Year Ended December 31, 2016 First Second Third Fourth (In Thousands) Interest and dividend income $ 1,695 $ 1,769 $ 1,911 $ 2,030 Interest expense 361 395 429 455 Net interest and dividend income 1,334 1,374 1,482 1,575 Provision for loan losses 60 103 117 30 Net interest and dividend income, after provision for loan losses 1,274 1,271 1,365 1,545 Total noninterest income 45 336 325 529 Total noninterest expense 1,039 1,194 1,082 1,157 Income before income taxes 280 413 608 917 Provision for income taxes 87 138 222 349 Net income $ 193 $ 275 $ 386 $ 568 Earnings per share: Basic $ 0.08 $ 0.11 $ 0.16 $ 0.24 Diluted $ 0.08 $ 0.11 $ 0.16 $ 0.24 2015 First Second Third Fourth (In Thousands) Interest and dividend income $ 1,394 $ 1,432 $ 1,545 $ 1,605 Interest expense 316 336 344 351 Net interest and dividend income 1,078 1,096 1,201 1,254 Provision for loan losses — 9 35 16 Net interest and dividend income, after provision for loan losses 1,078 1,087 1,166 1,238 Total noninterest income 43 79 104 16 Total noninterest expense 913 929 973 1,010 Income before income taxes 208 237 297 244 Provision for income taxes 59 88 91 90 Net income $ 149 $ 149 $ 206 $ 154 Earnings per share: Basic $ 0.06 $ 0.06 $ 0.08 $ 0.06 Diluted $ 0.06 $ 0.06 $ 0.08 $ 0.06

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary the Bank, and the Bank’s wholly-owned subsidiary, MCBSC, Inc., which is used to hold investment securities. All significant intercompany accounts and transactions have been eliminated in the consolidation.
USE OF ESTIMATES	USE OF ESTIMATES: In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses and the valuation of deferred tax assets.
RECLASSIFICATIONS	RECLASSIFICATIONS: Certain amounts in the prior year have been reclassified to be consistent with the current year’s presentation.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS: For purposes of reporting cash flows, cash and cash equivalents include cash, amounts due from banks, money market funds and federal funds sold. As of December 31, 2016, the Company has total cash and cash equivalents in the following banks: Eastern Bank $815,000 which represents approximately 1.9% of total stockholders’ equity State Street Bank $2,992,000 which represents approximately 6.9% of total stockholders’ equity As of December 31, 2015, the Company has total cash and cash equivalents in the following banks: Eastern Bank $6,414,000 which represents approximately 14.0% of stockholders’ equity State Street Bank $2,993,000 which represents approximately 6.6% of stockholders’ equity
SECURITIES	SECURITIES: Investments in debt securities are adjusted for amortization of premiums and accretion of discounts computed so as to approximate the interest method. Gains or losses on sales of investment securities are computed on a specific identification basis. The Company classifies debt and equity securities into one of three categories: held-to-maturity, available-for-sale, held-to-maturity available-for-sale. • Held-to-maturity • Available-for-sale • Trading securities are carried at fair value on the consolidated balance sheets. Unrealized holding gains and losses for trading securities are included in earnings. For any debt security with a fair value less than its amortized cost basis, the Company will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, the Company will recognize a full impairment charge to earnings. For all other debt securities that are considered other-than-temporarily impaired and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses. The other-than-temporary impairment related to all other factors will be recorded in other comprehensive income. Declines in marketable equity securities below their cost that are deemed other-than-temporary are reflected in earnings as realized losses. As a member of the Federal Home Loan Bank of Boston (FHLB), the Company is required to invest in $100 par value stock of the FHLB. The FHLB capital structure mandates that members must own stock as determined by their Total Stock Investment Requirement which is the sum of a member’s Membership Stock Investment Requirement and Activity-Based Stock Investment Requirement. Management evaluates the Company’s investment in FHLB stock for other-than-temporary impairment at least on a quarterly basis and more frequently when economic or market conditions warrant such evaluation. Based on its most recent analysis of the FHLB as of December 31, 2016, management deems its investment in FHLB stock to be not other-than-temporarily impaired.
LOANS	LOANS: Loans receivable that management has the intent and ability to hold until maturity or payoff are reported at their outstanding principal balances adjusted for amounts due to borrowers on unadvanced loans, any charge-offs, the allowance for loan losses and any deferred fees or costs on originated loans, or unamortized premiums or discounts on purchased loans. Loan origination and commitment fees and certain direct origination costs are deferred, and the net amount amortized as an adjustment of the related loan’s yield. The Company is amortizing these amounts over the contractual lives of the related loans. Residential real estate loans are generally placed on nonaccrual when reaching 90 days past due or in process of foreclosure. All closed-end Cash receipts of interest income on impaired loans are credited to principal to the extent necessary to eliminate doubt as to the collectability of the net carrying amount of the loan. Some or all of the cash receipts of interest income on impaired loans are recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered.
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES: The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance are confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. General Component: The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: one- The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: One- loan-to-value loan-to-value Commercial real estate: Loans in this segment are primarily income-producing properties throughout Massachusetts. The underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Loans in this segment also include loans secured by multifamily dwellings. Management periodically obtains rent rolls and continually monitors the cash flows of these loans. Construction loans: Loans in this segment primarily include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Consumer loans: Loans in this segment are generally secured and repayment is dependent on the credit quality of the individual borrower. Loans in this segment include auto loans and other consumer loans. Allocated Component: The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and one- A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). All TDRs are initially classified as impaired. Unallocated Component: An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT: Land is carried at cost. Buildings and equipment are stated at cost, less accumulated depreciation and amortization. Cost and related allowances for depreciation and amortization of premises and equipment retired or otherwise disposed of are removed from the respective accounts with any gain or loss included in income or expense. Depreciation and amortization are calculated principally on the straight-line method over the estimated useful lives of the assets. Estimated lives are 15 to 40 years for buildings and 3 to 10 years for furniture and equipment. Premises and equipment are periodically evaluated for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of premises and equipment are less than its carrying amount. In that event, the Company records a loss for the difference between the carrying amount and the fair value of the asset based on quoted market prices, if applicable, or a discounted cash flow analysis.
BANK-OWNED LIFE INSURANCE	BANK-OWNED LIFE INSURANCE: The Company has purchased insurance policies on the lives of certain directors, executive officers and employees. Bank-owned life insurance policies are reflected on the consolidated balance sheets at cash surrender value. Changes in net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest
ADVERTISING	ADVERTISING: The Company directly expenses costs associated with advertising as they are incurred. Advertising expense for the years ended December 31, 2016 and 2015 amounted to $146,000 and $143,000, respectively.
INCOME TAXES	INCOME TAXES: The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled.
EMPLOYEE STOCK OWNERSHIP PLAN	EMPLOYEE STOCK OWNERSHIP PLAN: Compensation expense for the Employee Stock Ownership Plan (“ESOP”) is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair value of the shares during the period. The Company recognizes compensation expense based upon the Company’s estimate of the number of shares expected to be allocated by the ESOP. Unearned compensation applicable to the ESOP is reflected as a reduction of stockholders’ equity in the consolidated balance sheet. The difference between the average fair value and the cost of shares allocated by the ESOP is recorded as an adjustment to additional paid-in-capital.
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION: The Company recognizes stock-based compensation based on the grant-date fair value of the award adjusted for expected forfeitures. The Company values share-based stock option awards granted using the Black-Scholes option-pricing model. The Company recognizes compensation expense for its awards on a straight-line basis over the requisite service period for the entire award (straight-line attribution method), ensuring that the amount of compensation cost recognized at any date at least equals the portion of the grant-date fair value of the award that is vested at that time.
EARNINGS PER SHARE (EPS)	EARNINGS PER SHARE (EPS): When presented, basic EPS is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For the purposes of computing diluted EPS, the treasury stock method is used. Unallocated ESOP shares and unearned shares of restricted stock are not deemed outstanding for earnings per share calculations. The calculation of basic and diluted EPS is presented below. Year Ended Year Ended (Dollars in Thousands) Net income $ 1,422 $ 658 Basic Common Shares: Weighted average common shares outstanding 2,660,521 2,825,847 Weighted average shares - unearned restricted stock (26,333 ) — Weighted average unallocated ESOP shares (207,501 ) (218,820 ) Basic weighted average shares outstanding 2,426,687 2,607,027 Dilutive effect of unvested restricted stock awards 811 — Diluted weighted average shares outstanding 2,427,498 2,607,027 Basic earnings per share $ 0.59 $ 0.25 Diluted earnings per share (1) $ 0.59 $ 0.25 (1) Options to purchase 224,200 shares, representing all outstanding options, were not included in the computation of diluted earnings per share for the year ended December 31, 2016 because the effect is anti-dilutive. As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock.
FAIR VALUES OF FINANCIAL INSTRUMENTS	FAIR VALUES OF FINANCIAL INSTRUMENTS: Accounting Standards Codification (ASC) 825, “Financial Instruments,” requires that the Company disclose the estimated fair value for its financial instruments. Fair value methods and assumptions used by the Company in estimating its fair value disclosures are as follows: Cash and cash equivalents: The carrying amounts reported in the balance sheets for cash and cash equivalents approximate those assets’ fair values. Securities: Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Loans receivable: For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. Deposit liabilities: The fair values disclosed for demand deposits (e.g., interest and non-interest Federal Home Loan Bank advances: The fair values of Federal Home Loan Bank advances are estimated using discounted cash flow analyses based on the current incremental borrowing rates for similar types of borrowing arrangements. Off-balance
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS: As an “emerging growth company,” as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. Accordingly, the consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards. As of December 31, 2016, there is no significant difference in the comparability of the consolidated financial statements as a result of this extended transition period. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, 2015-14 2014-09 In January 2016, FASB issued ASU 2016-01, 825-10): 1. Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, the entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same manner. 2. Simplify the impairment assessment of equity investments without determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3. Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4. Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5. Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6. Require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7. Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale Under the extended transition period for an emerging growth company, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption of item 5 above is permitted for fiscal years or interim periods for which financial statements have not been issued. Early adoption of all other amendments in this ASU is not permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, In March 2016, the FASB issued ASU 2016-09, paid-in-capital 2016-09 2016-09 In June 2016, the FASB issued ASU 2016-13, available-for-sale 2016-13 In August 2016, the FASB issued ASU 2016-15, 2016-15 In November 2016, the FASB issued ASU 2016-18 beginning-of-period end-of-period 2016-18

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Calculation of Basic and Diluted EPS	The calculation of basic and diluted EPS is presented below. Year Ended Year Ended (Dollars in Thousands) Net income $ 1,422 $ 658 Basic Common Shares: Weighted average common shares outstanding 2,660,521 2,825,847 Weighted average shares - unearned restricted stock (26,333 ) — Weighted average unallocated ESOP shares (207,501 ) (218,820 ) Basic weighted average shares outstanding 2,426,687 2,607,027 Dilutive effect of unvested restricted stock awards 811 — Diluted weighted average shares outstanding 2,427,498 2,607,027 Basic earnings per share $ 0.59 $ 0.25 Diluted earnings per share (1) $ 0.59 $ 0.25 (1) Options to purchase 224,200 shares, representing all outstanding options, were not included in the computation of diluted earnings per share for the year ended December 31, 2016 because the effect is anti-dilutive. As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock.

Investments in Available-For-29

Investments in Available-For-Sale Securities (Tables)	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Amortized Cost Basis of Securities and Their Approximate Fair Values	The amortized cost basis of securities and their approximate fair values are as follows as of December 31: Amortized Gross Gross Fair Value (In Thousands) December 31, 2016: U.S. Government and federal agency obligations $ 5,819 $ — $ 131 $ 5,688 Debt securities issued by states of the United States and political subdivisions of the states 2,695 2 41 2,656 Corporate bonds and notes 12,537 17 61 12,493 Preferred stock 3,000 20 82 2,938 Mortgage-backed securities 1,498 — 66 1,432 Marketable equity securities 5,072 1,557 5 6,624 $ 30,621 $ 1,596 $ 386 $ 31,831 December 31, 2015: U.S. Government and federal agency obligations $ 8,851 $ 7 $ 88 $ 8,770 Debt securities issued by states of the United States and political subdivisions of the states 2,408 8 18 2,398 Corporate bonds and notes 13,540 12 44 13,508 Preferred stock 3,000 31 2 3,029 Mortgage-backed securities 2,232 — 66 2,166 Marketable equity securities 13,183 2,125 36 15,272 $ 43,214 $ 2,183 $ 254 $ 45,143
Scheduled Maturities of Debt Securities	The scheduled maturities of debt securities as of December 31, 2016 are as follows: Fair (In Thousands) Due within one year $ 3,170 Due after one year through five years 13,073 Due after five years through ten years 1,946 Due after ten years 3,164 Mortgage-backed securities 1,432 Asset-backed securities 1,491 $ 24,276
Aggregate Fair Value and Unrealized Losses of Securities in Continuous Unrealized Loss Position	The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more, and are not other-than-temporarily impaired, are as follows as of December 31: Less than 12 months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) December 31, 2016 U.S. government and federal agency obligations $ 4,359 $ 59 $ 1,328 $ 72 $ 5,687 $ 131 Debt securities issued by states of the United States and political subdivisions of the states 1,760 28 245 13 2,005 41 Corporate bonds and notes 5,784 61 — — 5,784 61 Preferred stock 1,918 82 — — 1,918 82 Mortgage-backed securities 370 8 1,062 58 1,432 66 Marketable equity securities 2,235 5 — — 2,235 5 Total temporarily impaired securities $ 16,426 $ 243 $ 2,635 $ 143 $ 19,061 $ 386 December 31, 2015 U.S. government and federal agency obligations $ 5,366 $ 59 $ 1,403 $ 29 $ 6,769 $ 88 Debt securities issued by states of the United States and political subdivisions of the states 1,176 9 505 9 1,681 18 Corporate bonds and notes 9,012 38 993 6 10,005 44 Preferred stock 998 2 — — 998 2 Mortgage-backed securities 1,608 40 558 26 2,166 66 Marketable equity securities 5,160 36 — — 5,160 36 Total temporarily impaired securities $ 23,320 $ 184 $ 3,459 $ 70 $ 26,779 $ 254

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Summary of Loans	Loans consisted of the following: December 31, December 31, 2016 2015 (In Thousands) Real estate loans: One-to $ 168,111 $ 132,237 Home equity loans and lines of credit 10,720 10,862 Commercial 23,011 13,251 Construction 11,738 4,303 Consumer loans 71 121 Total loans 213,651 160,774 Allowance for loan losses (890 ) (580 ) Deferred loan costs, net 32 109 Unamortized premiums 372 — Net loans $ 213,165 $ 160,303
Information Regarding Nonaccrual Loans and Past-due Loans	The following tables set forth information on the allowance for loan losses at and for the years ended December 31, 2016 and 2015: Real Estate: One- to four- Home Equity Loans Commercial Construction Consumer Unallocated Total (In Thousands) Year Ended December 31, 2016 Allowance for loan losses: Beginning balance $ 331 $ 49 $ 150 $ 40 $ 1 $ 9 $ 580 Charge offs — — — — — — — Recoveries — — — — — — — Provision 87 — 126 77 — 20 310 Ending balance $ 418 $ 49 $ 276 $ 117 $ 1 $ 29 $ 890 At December 31, 2016 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 418 49 276 117 1 29 890 Total allowance for loan losses ending balance $ 418 $ 49 $ 276 $ 117 $ 1 $ 29 $ 890 Loans: Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 168,111 10,720 23,011 11,738 71 — 213,651 Total loans ending balance $ 168,111 $ 10,720 $ 23,011 $ 11,738 $ 71 $ — $ 213,651 Real Estate: One- to four- Home Equity Loans Commercial Construction Consumer Unallocated Total (In Thousands) Year Ended December 31, 2015 Allowance for loan losses: Beginning balance $ 414 $ 58 $ 25 $ 21 $ 1 $ 1 $ 520 Charge offs — — — — — — — Recoveries — — — — — — — (Benefit) provision (83 ) (9 ) 125 19 — 8 60 Ending balance $ 331 $ 49 $ 150 $ 40 $ 1 $ 9 $ 580 At December 31, 2015 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 331 49 150 40 1 9 580 Total allowance for loan losses ending balance $ 331 $ 49 $ 150 $ 40 $ 1 $ 9 $ 580 Loans: Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment 132,237 10,862 13,251 4,303 121 — 160,774 Total loans ending balance $ 132,237 $ 10,862 $ 13,251 $ 4,303 $ 121 $ — $ 160,774
Summary of Changes in Allowance for Loan Losses	The following tables set forth information regarding nonaccrual loans and past-due 30 - 59 60 - 90 Days or Total Past Total Total 90 Days or More Non- (In Thousands) At December 31, 2016: Real estate loans: One-to $ 518 $ 9 $ — $ 527 $ 167,584 $ 168,111 $ — $ 9 Home equity loans and lines of credit — — — — 10,720 10,720 — — Commercial — — — — 23,011 23,011 — — Construction — — — — 11,738 11,738 — — Consumer loans — — — — 71 71 — — Total $ 518 $ 9 $ — $ 527 $ 213,124 $ 213,651 $ — $ 9 At December 31, 2015 Real estate loans: One-to $ 600 $ — $ 68 $ 668 $ 131,569 $ 132,237 $ — $ 68 Home equity loans and lines of credit — — 197 197 10,665 10,862 — 197 Commercial — — — — 13,251 13,251 — — Construction — — — — 4,303 4,303 — — Consumer loans — — — — 121 121 — — Total $ 600 $ — $ 265 $ 865 $ 159,909 $ 160,774 $ — $ 265

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Summary of Premises and Equipment	The following is a summary of premises and equipment as of December 31: December 31, December 31, 2016 2015 (In Thousands) Land $ 393 $ 393 Building and improvements 1,840 1,817 Furniture and equipment 549 514 Data processing equipment 303 254 3,085 2,978 Accumulated depreciation (1,837 ) (1,752 ) $ 1,248 $ 1,226

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Scheduled Maturities of Time Deposits	For time deposits as of December 31, 2016 the scheduled maturities for each of the following years ended December 31 are as follows: (In Thousands) 2017 $ 63,523 2018 45,381 2019 1,825 2020 1,253 2021 1,624 $ 113,606

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Components of Income Tax Expense	The components of income tax expense are as follows for the years ended December 31: Years Ended December 31, 2016 2015 (In Thousands) Current: Federal $ 543 $ 327 State 182 70 725 397 Deferred: Federal 80 (96 ) State (9 ) (2 ) Change in valuation allowance — 30 71 (68 ) Total income tax expense $ 796 $ 329
Summary of Differences Between the Statutory Federal Income Tax Rate and the Effective Tax Rates	The reasons for the differences between the statutory federal income tax rate and the effective tax rates are summarized as follows for the years ended December 31: Years Ended December 31, 2016 2015 % of Income % of Income Federal income tax at statutory rate 34.0 % 34.0 % State tax, net of federal tax benefit 5.2 4.5 Dividends received deduction (1.3 ) (3.3 ) Bank-owned life insurance (2.2 ) (4.8 ) Stock compensation 1.1 0.0 Tax exempt income (1.3 ) (1.7 ) ESOP 0.6 1.1 Other 0.2 0.5 Change in valuation allowance — 3.0 Effective tax rates 35.9 % 33.3 %
Deferred Tax Assets and Liabilities	The Company had gross deferred tax assets and gross deferred tax liabilities as follows as of December 31: December 31, 2016 2015 (In Thousands) Deferred tax assets: Allowance for loan losses $ 356 $ 231 Interest on non-performing — 5 Deferred compensation 83 90 Security writedowns 27 164 ESOP 12 1 Stock based compensation 47 — Accrued expenses 13 — Contribution to Melrose Cooperative Bank Foundation 406 483 Gross deferred tax assets 944 974 Valuation allowance (90 ) (90 ) Gross deferred tax assets, net of valuation allowance 854 884 Deferred tax liabilities: Accelerated depreciation (220 ) (179 ) Net unrealized holding gain on available-for-sale (514 ) (783 ) Gross deferred tax liabilities (734 ) (962 ) Net deferred tax asset (liability) $ 120 $ (78 )

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Principal Balance on ESOP Debt	The remaining principal balance on the ESOP debt as of December 31, 2016 is payable as follows: Years Ending December 31, Amount (In Thousands) 2017 $ 49 2018 51 2019 52 2020 54 2021 56 Thereafter 1,808 $ 2,070
Schedule of Shares Held by ESOP	Shares held by the ESOP are as follows as of December 31: 2016 2015 Allocated 22,638 15,092 Unallocated 203,728 211,274 Shares held by ESOP 226,366 226,366

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Investments, All Other Investments [Abstract]
Summary of Financial Instrument Liabilities with off-Balance Sheet Credit Risk	Financial instrument liabilities with off-balance December 31, December 31, 2016 2015 (In Thousands) Commitments to originate loans $ 7,864 $ 5,214 Unused lines of credit 13,742 11,986 Due to borrowers on unadvanced construction loans 3,852 1,796 $ 25,458 $ 18,996

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Summary of Assets Measured at Fair Value on Recurring Basis	The following summarizes assets measured at fair value on a recurring basis as of December 31: Fair Value Measurements at Reporting Date Using: Total Quoted Prices in Significant Significant (In Thousands) December 31, 2016: U.S. Government and federal agency obligations $ 5,688 $ — $ 5,688 $ — Debt securities issued by states of the United States and political subdivisions of the states 2,656 — 2,656 — Corporate bonds and notes 12,493 — 12,493 — Preferred stock 2,938 2,938 — — Mortgage-backed securities 1,432 — 1,432 — Marketable equity securities 6,624 6,624 — — Totals $ 31,831 $ 9,562 $ 22,269 $ — December 31, 2015: U.S. Government and federal agency obligations $ 8,770 $ — $ 8,770 $ — Debt securities issued by states of the United States and political subdivisions of the states 2,398 — 2,398 — Corporate bonds and notes 13,508 — 13,508 — Preferred stock 3,029 3,029 — — Mortgage-backed securities 2,166 — 2,166 — Marketable equity securities 15,272 15,272 — — Totals $ 45,143 $ 18,301 $ 26,842 $ —
Summary of Estimated Fair Values of Bank's Financial Instruments	The estimated fair values of the Company’s financial instruments, all of which are held or issued for purposes other than trading, are as follows: December 31, 2016 Carrying Fair Value Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 13,792 $ 13,792 $ — $ — $ 13,792 Available-for-sale 31,831 9,562 22,269 — 31,831 Federal Home Loan Bank stock 964 964 — — 964 Loans, net 213,165 — — 213,582 213,582 Co-operative 881 881 — — 881 Accrued interest receivable 572 572 — — 572 Financial liabilities: Deposits 214,766 — 215,443 — 215,443 FHLB advances 10,000 — 9,930 — 9,930 December 31, 2015 Carrying Fair Value Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 16,854 $ 16,854 $ — $ — $ 16,854 Available-for-sale 45,143 18,301 26,842 — 45,143 Federal Home Loan Bank stock 437 437 — — 437 Loans, net 160,303 — — 161,206 161,206 Co-operative 881 881 — — 881 Accrued interest receivable 440 440 — — 440 Financial liabilities: Deposits 184,527 — 185,170 — 185,170

Other Comprehensive Loss (Table

Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Components of Other Comprehensive Loss Included in Stockholders' Equity	The components of other comprehensive loss included in stockholders’ equity are as follows: For the years ended December 31, 2016 2015 (In Thousands) Net unrealized holding gain (loss) on available-for-sale $ 285 $ (190 ) Reclassification adjustment for net realized (gain) loss in net income (1) (1,004 ) 52 Other comprehensive loss before income tax effect (719 ) (138 ) Income tax benefit 269 68 Other comprehensive loss, net of tax $ (450 ) $ (70 ) (1) Reclassification adjustments include net realized securities gains and losses. Realized gains and losses have been reclassified out of accumulated other comprehensive income and affect certain captions in the consolidated statements of income as follows: pre-tax

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Summary of Actual Capital Amounts and Ratios	The Bank’s actual capital amounts and ratios are also presented in the table. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) As of December 31, 2016: Total Capital (to Risk Weighted Assets) $ 35,236 21.09 % $ 13,368 8.0 % $ 16,710 10.0 % Tier 1 Capital (to Risk Weighted Assets) 33,648 20.14 10,026 6.0 13,368 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 33,648 20.14 7,519 4.5 10,861 6.5 Tier 1 Capital (to Average Assets) 33,648 13.58 9,909 4.0 12,386 5.0 As of December 31, 2015: Total Capital (to Risk Weighted Assets) $ 33,580 24.78 % $ 10,839 8.0 % $ 13,549 10.0 % Tier 1 Capital (to Risk Weighted Assets) 32,060 23.66 8,129 6.0 10,839 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 32,060 23.66 6,097 4.5 8,807 6.5 Tier 1 Capital (to Average Assets) 32,060 14.45 8,877 4.0 11,096 5.0

Condensed Parent Company Only39

Condensed Parent Company Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Summary of Balance Sheets	BALANCE SHEETS (In Thousands) December 31, 2016 2015 Assets Non-interest bearing deposit in the Bank $ 1,881 $ 5,170 Money market funds 1,558 645 Cash and cash equivalents 3,439 5,815 Investments in available-for-sale securities (at fair value) 2,980 3,835 Investment in subsidiary, Melrose Cooperative Bank 34,399 33,246 Loan receivable ESOP 2,070 2,116 Accrued interest receivable 5 4 Deferred tax assets 388 418 Other assets 147 111 Total assets $ 43,428 $ 45,545 Liabilities and Stockholders’ Equity Other liabilities $ 124 $ — Stockholders’ equity 43,304 45,545 Total liabilities and stockholders’ equity $ 43,428 $ 45,545
Summary of Statements of Income	STATEMENTS OF INCOME (In Thousands) For the year ended For the year ended December 31, 2016 December 31, 2015 Interest and dividend income: Interest on ESOP loan $ 69 $ 70 Interest and dividends on securities 71 89 Total interest and dividend income 140 159 Noninterest expense: Salaries and employee benefits 191 — Other expenses 1 — Total noninterest expense 192 — (Loss) income before undistributed income of subsidiary and income tax (benefit) expense (52 ) 159 Undistributed income of subsidiary 1,472 589 Income before income taxes 1,420 748 Income tax (benefit) expense (2 ) 90 Net income $ 1,422 $ 658
Summary of Statement of Cash Flows	STATEMENT OF CASH FLOWS (In Thousands) For the year ended For the year ended December 31, 2016 December 31, 2015 Cash flows from operating activities: Net income $ 1,422 $ 658 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of securities, net of accretion 31 13 Increase in accrued interest receivable (1 ) (1 ) Deferred tax expense 29 71 Increase in other assets (36 ) (97 ) Increase in other liabilities 124 Stock based compensation expense 191 — Equity in undistributed earnings of subsidiary (1,472 ) (589 ) Net cash provided by operating activities 288 55 Cash flows from investing activities: Purchases of available-for-sale securities — (1,945 ) Proceeds from maturities of available-for-sale securities 810 923 Repayment of principal on ESOP loan 46 46 Net cash provided by (used in) investing activities 856 (976 ) Cash flows from financing activities: Cash paid for stock repurchases (3,520 ) (613 ) Net cash used in financing activities (3,520 ) (613 ) Net decrease in cash and cash equivalents (2,376 ) (1,534 ) Cash and cash equivalents at beginning of year 5,815 7,349 Cash and cash equivalents at end of year $ 3,439 $ 5,815

Quarterly Data (Unaudited) (Tab

Quarterly Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Year Ended December 31, 2016 First Second Third Fourth (In Thousands) Interest and dividend income $ 1,695 $ 1,769 $ 1,911 $ 2,030 Interest expense 361 395 429 455 Net interest and dividend income 1,334 1,374 1,482 1,575 Provision for loan losses 60 103 117 30 Net interest and dividend income, after provision for loan losses 1,274 1,271 1,365 1,545 Total noninterest income 45 336 325 529 Total noninterest expense 1,039 1,194 1,082 1,157 Income before income taxes 280 413 608 917 Provision for income taxes 87 138 222 349 Net income $ 193 $ 275 $ 386 $ 568 Earnings per share: Basic $ 0.08 $ 0.11 $ 0.16 $ 0.24 Diluted $ 0.08 $ 0.11 $ 0.16 $ 0.24 2015 First Second Third Fourth (In Thousands) Interest and dividend income $ 1,394 $ 1,432 $ 1,545 $ 1,605 Interest expense 316 336 344 351 Net interest and dividend income 1,078 1,096 1,201 1,254 Provision for loan losses — 9 35 16 Net interest and dividend income, after provision for loan losses 1,078 1,087 1,166 1,238 Total noninterest income 43 79 104 16 Total noninterest expense 913 929 973 1,010 Income before income taxes 208 237 297 244 Provision for income taxes 59 88 91 90 Net income $ 149 $ 149 $ 206 $ 154 Earnings per share: Basic $ 0.06 $ 0.06 $ 0.08 $ 0.06 Diluted $ 0.06 $ 0.06 $ 0.08 $ 0.06

Nature of Operations - Addition

Nature of Operations - Additional Information (Detail)	Oct. 21, 2014USD ($)$ / sharesshares	Dec. 31, 2016USD ($)Officeshares	Dec. 31, 2014USD ($)
Nature Of Operations [Line Items]
Entity incorporation date		Feb. 1, 2014
Aggregate issuance of common stock | shares	2,829,579
Common stock , price per share | $ / shares	$ 10
Net proceeds from the stock offering	$ 25,518,000
Stock offering costs	$ 1,716,000
Cash funded to charitable foundation			$ 300,000
Expenses recognized			$ 1,362,000
Shares purchased under employee stock ownership plan | shares		226,366
Melrose Cooperative Bank [Member]
Nature Of Operations [Line Items]
Aggregate issuance of common stock | shares	2,723,409
Melrose Cooperative Bank Foundation [Member]
Nature Of Operations [Line Items]
Common stock, shares sold | shares	106,170
Expenses recognized		$ 1,362,000
Massachusetts [Member]
Nature Of Operations [Line Items]
Melrose Cooperative Bank (Number of banking office) | Office		1

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Par value stock	$ 0.01	$ 0.01
Allowance for loan losses adjustments	$ 0	$ 0
Advertising expense	$ 146,000	143,000
Building [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	15 years
Building [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	40 years
Furniture and Equipment [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	3 years
Furniture and Equipment [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	10 years
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Percentage of loan-to-value ratio	80.00%
Eastern Bank [Member]
Significant Accounting Policies [Line Items]
Total cash and cash equivalents	$ 815,000	$ 6,414,000
Percentage of cash and cash equivalent of stockholders equity	1.90%	14.00%
State Street Bank [Member]
Significant Accounting Policies [Line Items]
Total cash and cash equivalents	$ 2,992,000	$ 2,993,000
Percentage of cash and cash equivalent of stockholders equity	6.90%	6.60%
Federal Home Loan Bank of Boston [Member]
Significant Accounting Policies [Line Items]
Par value stock	$ 100

Summary of Significant Accoun43

Summary of Significant Accounting Policies - Summary of Calculation of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net income	$ 568	$ 386	$ 275	$ 193	$ 154	$ 206	$ 149	$ 149	$ 1,422	$ 658
Basic Common Shares:
Weighted average common shares outstanding									2,660,521	2,825,847
Weighted average shares - unearned restricted stock									(26,333)
Weighted average unallocated ESOP shares									(207,501)	(218,820)
Basic weighted average shares outstanding									2,426,687	2,607,027
Dilutive effect of unvested restricted stock awards									811
Diluted weighted average shares outstanding									2,427,498	2,607,027
Basic earnings per share	$ 0.24	$ 0.16	$ 0.11	$ 0.08	$ 0.06	$ 0.08	$ 0.06	$ 0.06	$ 0.59	$ 0.25
Diluted earnings per share	$ 0.24	$ 0.16	$ 0.11	$ 0.08	$ 0.06	$ 0.08	$ 0.06	$ 0.06	$ 0.59	$ 0.25

Summary of Significant Accoun44

Summary of Significant Accounting Policies - Summary of Calculation of Basic and Diluted EPS (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Potentially dilutive securities or contracts to issue common stock	$ 0	$ 0
Anti-dilutive securities excluded from computation of diluted earnings	224,200

Investments in Available-For-45

Investments in Available-For-Sale Securities - Amortized Cost Basis of Securities and Their Approximate Fair Values (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	$ 30,621	$ 43,214
Gross Unrealized Gains	1,596	2,183
Gross Unrealized Losses	386	254
Fair Value	31,831	45,143
U.S Government and Federal Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	5,819	8,851
Gross Unrealized Gains		7
Gross Unrealized Losses	131	88
Fair Value	5,688	8,770
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	2,695	2,408
Gross Unrealized Gains	2	8
Gross Unrealized Losses	41	18
Fair Value	2,656	2,398
Corporate Bonds and Notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	12,537	13,540
Gross Unrealized Gains	17	12
Gross Unrealized Losses	61	44
Fair Value	12,493	13,508
Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	3,000	3,000
Gross Unrealized Gains	20	31
Gross Unrealized Losses	82	2
Fair Value	2,938	3,029
Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	1,498	2,232
Gross Unrealized Losses	66	66
Fair Value	1,432	2,166
Marketable Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	5,072	13,183
Gross Unrealized Gains	1,557	2,125
Gross Unrealized Losses	5	36
Fair Value	$ 6,624	$ 15,272

Investments in Available-For-46

Investments in Available-For-Sale Securities - Scheduled Maturities of Debt Securities (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Available-for-sale Securities [Abstract]
Due within one year	$ 3,170
Due after one year through five years	13,073
Due after five years through ten years	1,946
Due after ten years	3,164
Mortgage-backed securities	1,432
Asset-backed securities	1,491
Debt security, fair value	$ 24,276

Investments in Available-For-47

Investments in Available-For-Sale Securities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)Securitiesshares	Dec. 31, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Number of securities with aggregate carrying value exceeding 10% of stockholders' equity | shares	0
Proceeds from sales of available-for-sale securities	$ 9,321,000	$ 2,911,000
Gross realized gain on sale of available-for-sale security	1,000,000	490,000
Gross realized losses on sales of available-for-sale securities	0	81,000
Tax expense applicable to net realized gain	359,000	164,000
Pledged securities	$ 0	0
Number of marketable securities that were declared other than temporarily impaired | Securities	0
Realized loss, other than temporary impaired marketable securities		$ 461,000
Public Storage Inc. [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	6.90%
Unrealized losses	$ 69,000
General Electric Cap Corp [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	1.30%
Unrealized losses	$ 13,000
Corporate Bonds And Notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses	$ 61,000
Unrealized losses, securities | Securities	10
Corporate Bonds And Notes [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	3.00%
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses	$ 41,000
Unrealized losses, securities | Securities	6
Municipal Bonds [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	4.00%
Municipal Bonds [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	5.00%
Municipal Bonds [Member] | Debt Security Two [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, securities | Securities	2
Municipal Bonds [Member] | Debt Security Four [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, securities | Securities	4
Municipal Bonds [Member] | Debt Security Four [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	2.00%
Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Preferred stock, no stated maturity	$ 931,000
U.S Government and Federal Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses	$ 131,000
Unrealized losses, securities | Securities	11
U.S Government and Federal Agency Obligations [Member] | Debt Security Four [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, securities | Securities	4
U.S Government and Federal Agency Obligations [Member] | Debt Security Four [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	3.00%
U.S Government and Federal Agency Obligations [Member] | Debt Security Four [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	6.00%
U.S Government and Federal Agency Obligations [Member] | Debt Security Seven [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, securities | Securities	7
U.S Government and Federal Agency Obligations [Member] | Debt Security Seven [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	2.00%
Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses	$ 66,000
Unrealized losses, securities | Securities	4
Mortgage-backed Securities [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	2.00%
Mortgage-backed Securities [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	7.00%
Two Mutual Fund Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of unrealized losses of debt securities with amortized cost	0.20%
Unrealized losses	$ 5,000

Investments in Available-For-48

Investments in Available-For-Sale Securities - Aggregate Fair Value and Unrealized Losses of Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	$ 16,426	$ 23,320
Less than 12 Months Unrealized Losses	243	184
12 Months or Longer Fair Value	2,635	3,459
12 Months or Longer Unrealized Losses	143	70
Total Fair Value	19,061	26,779
Total Unrealized Losses	386	254
U.S Government and Federal Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	4,359	5,366
Less than 12 Months Unrealized Losses	59	59
12 Months or Longer Fair Value	1,328	1,403
12 Months or Longer Unrealized Losses	72	29
Total Fair Value	5,687	6,769
Total Unrealized Losses	131	88
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	1,760	1,176
Less than 12 Months Unrealized Losses	28	9
12 Months or Longer Fair Value	245	505
12 Months or Longer Unrealized Losses	13	9
Total Fair Value	2,005	1,681
Total Unrealized Losses	41	18
Corporate Bonds and Notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	5,784	9,012
Less than 12 Months Unrealized Losses	61	38
12 Months or Longer Fair Value		993
12 Months or Longer Unrealized Losses		6
Total Fair Value	5,784	10,005
Total Unrealized Losses	61	44
Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	1,918	998
Less than 12 Months Unrealized Losses	82	2
Total Fair Value	1,918	998
Total Unrealized Losses	82	2
Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	370	1,608
Less than 12 Months Unrealized Losses	8	40
12 Months or Longer Fair Value	1,062	558
12 Months or Longer Unrealized Losses	58	26
Total Fair Value	1,432	2,166
Total Unrealized Losses	66	66
Marketable Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	2,235	5,160
Less than 12 Months Unrealized Losses	5	36
Total Fair Value	2,235	5,160
Total Unrealized Losses	$ 5	$ 36

Loans - Summary of Loans (Detai

Loans - Summary of Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable	$ 213,651	$ 160,774
Allowance for loan losses	(890)	(580)	$ (520)
Deferred loan costs, net	32	109
Unamortized premiums	372
Net loans	213,165	160,303
One- to Four- Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable	168,111	132,237
Allowance for loan losses	(418)	(331)	(414)
Home Equity Loans and Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable	10,720	10,862
Allowance for loan losses	(49)	(49)	(58)
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable	23,011	13,251
Allowance for loan losses	(276)	(150)	(25)
Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable	11,738	4,303
Allowance for loan losses	(117)	(40)	(21)
Consumer Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable	71	121
Allowance for loan losses	$ (1)	$ (1)	$ (1)

Loans - Additional Information

Loans - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)SecurityLoan	Dec. 31, 2015USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total amount of loans	$ 1,531,000
Loans advance	122,000
Principal payment	239,000
Impaired loan	0	$ 0
Troubled debt restructured loan	0	0
Amount of consumer mortgage loan in foreclosure process	321,000
Amount of loan in foreclosed	$ 0
Number of consumer mortgage loans in foreclosure process | SecurityLoan	1
Credit quality information requirement description	On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate and construction loans over $350,000.
One- to Four- Family Residential [Member] | Receivables Acquired with Deteriorated Credit Quality [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality	$ 287,000	366,000
Home Equity Loans and Lines of Credit [Member] | Receivables Acquired with Deteriorated Credit Quality [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality		$ 197,000
Commercial Real Estate And Construction Loans Portfolio [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired with deteriorated credit quality	$ 350,000

Loans - Summary of Changes in A

Loans - Summary of Changes in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	$ 580	$ 520
Charge offs	0	0
Recoveries	0	0
(Benefit) provision	310	60
Ending balance	890	580
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	890	580
Total allowance for loan losses ending balance	890	580
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	213,651	160,774
Total	213,651	160,774
One- to Four- Family Residential [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	331	414
Charge offs	0	0
Recoveries	0	0
(Benefit) provision	87	(83)
Ending balance	418	331
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	418	331
Total allowance for loan losses ending balance	418	331
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	168,111	132,237
Total	168,111	132,237
Home Equity Loans and Lines of Credit [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	49	58
Charge offs	0	0
Recoveries	0	0
(Benefit) provision		(9)
Ending balance	49	49
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	49	49
Total allowance for loan losses ending balance	49	49
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	10,720	10,862
Total	10,720	10,862
Commercial [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	150	25
Charge offs	0	0
Recoveries	0	0
(Benefit) provision	126	125
Ending balance	276	150
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	276	150
Total allowance for loan losses ending balance	276	150
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	23,011	13,251
Total	23,011	13,251
Construction Loans [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	40	21
Charge offs	0	0
Recoveries	0	0
(Benefit) provision	77	19
Ending balance	117	40
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	117	40
Total allowance for loan losses ending balance	117	40
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	11,738	4,303
Total	11,738	4,303
Consumer Loans [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	1	1
Charge offs	0	0
Recoveries	0	0
Ending balance	1	1
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1	1
Total allowance for loan losses ending balance	1	1
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	71	121
Total	71	121
Unallocated [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	9	1
Charge offs	0	0
Recoveries	0	0
(Benefit) provision	20	8
Ending balance	29	9
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	29	9
Total allowance for loan losses ending balance	29	9
Individually evaluated for impairment	$ 0	$ 0

Loans - Information Regarding N

Loans - Information Regarding Nonaccrual Loans and Past-due Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 527	$ 865
Total Current	213,124	159,909
Total	213,651	160,774
90 Days Or More Past Due and Accruing	0	0
Non-Accrual	9	265
30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	518	600
60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	9
90 Days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		265
One- to Four- Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	527	668
Total Current	167,584	131,569
Total	168,111	132,237
90 Days Or More Past Due and Accruing	0	0
Non-Accrual	9	68
One- to Four- Family Residential [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	518	600
One- to Four- Family Residential [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	9
One- to Four- Family Residential [Member] | 90 Days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		68
Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		197
Total Current	10,720	10,665
Total	10,720	10,862
90 Days Or More Past Due and Accruing	0	0
Non-Accrual		197
Home Equity Loans and Lines of Credit [Member] | 90 Days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		197
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Current	23,011	13,251
Total	23,011	13,251
90 Days Or More Past Due and Accruing	0	0
Construction Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Current	11,738	4,303
Total	11,738	4,303
90 Days Or More Past Due and Accruing	0	0
Consumer Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Current	71	121
Total	71	121
90 Days Or More Past Due and Accruing	$ 0	$ 0

Premises and Equipment - Summar

Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 3,085	$ 2,978
Accumulated depreciation	(1,837)	(1,752)
Premises and equipment, net	1,248	1,226
Land [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	393	393
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,840	1,817
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	549	514
Data Processing Equipment [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 303	$ 254

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Banking and Thrift [Abstract]
FDIC insurance limit	$ 250,000	$ 250,000
Aggregate amount of time deposit	23,434,000	16,876,000
Deposits from related parties held by bank	$ 3,782,000	$ 4,030,000

Deposits - Scheduled Maturities

Deposits - Scheduled Maturities of Time Deposits (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Banking and Thrift [Abstract]
2,017	$ 63,523
2,018	45,381
2,019	1,825
2,020	1,253
2,021	1,624
Total	$ 113,606

Borrowed Funds - Additional Inf

Borrowed Funds - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)Advance	Dec. 31, 2015USD ($)
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB Borrowings	$ 10,000,000
Cooperative Central Bank [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Maximum borrowing capacity	$ 5,000,000
Federal Home Loan Bank of Boston [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Number of Federal Home Loan Bank Advances | Advance	2
FHLB Borrowings	$ 10,000,000	$ 0
Federal Home Loan Bank, maturity date	Dec. 31, 2019
Federal Home Loan Bank, remaining maximum borrowing capacity	$ 102,500,000
Federal Home Loan Bank of Boston [Member] | FHLB Loan 1.42% [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB Borrowings	$ 5,000,000
Federal Home Loan Bank, interest rate	1.42%
Federal Home Loan Bank of Boston [Member] | FHLB Loan 1.48% [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB Borrowings	$ 5,000,000
Federal Home Loan Bank, interest rate	1.48%

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Current:
Federal									$ 543	$ 327
State									182	70
Current Income Tax Expense (Benefit)									725	397
Deferred:
Federal									80	(96)
State									(9)	(2)
Change in valuation allowance										30
Deferred Income Tax Expense (Benefit)									71	(68)
Total income tax expense	$ 349	$ 222	$ 138	$ 87	$ 90	$ 91	$ 88	$ 59	$ 796	$ 329

Income Taxes - Summary of Diffe

Income Taxes - Summary of Differences Between the Statutory Federal Income Tax Rate and the Effective Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Federal income tax at statutory rate	34.00%	34.00%
State tax, net of federal tax benefit	5.20%	4.50%
Dividends received deduction	(1.30%)	(3.30%)
Bank-owned life insurance	(2.20%)	(4.80%)
Stock compensation	1.10%	0.00%
Tax exempt income	(1.30%)	(1.70%)
ESOP	0.60%	1.10%
Other	0.20%	0.50%
Change in valuation allowance		3.00%
Effective tax rates	35.90%	33.30%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Allowance for loan losses	$ 356	$ 231
Interest on non-performing loans		5
Deferred compensation	83	90
Security writedowns	27	164
ESOP	12	1
Stock based compensation	47
Accrued expenses	13
Contribution to Melrose Cooperative Bank Foundation	406	483
Gross deferred tax assets	944	974
Valuation allowance	(90)	(90)
Gross deferred tax assets, net of valuation allowance	854	884
Deferred tax liabilities:
Accelerated depreciation	(220)	(179)
Net unrealized holding gain on available-for-sale securities	(514)	(783)
Gross deferred tax liabilities	(734)	(962)
Net deferred tax asset	$ 120
Net deferred tax liability		$ (78)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2015
Income Taxes [Line Items]
Valuation allowance against deferred tax	$ 90,000		$ 90,000
Gross deferred tax asset	406,000		483,000
Contribution to Melrose Cooperative Bank Foundation		$ 1,362,000
Income tax charitable contribution carry forward	1,007,000
Liability for uncertain tax positions	0		$ 0
Melrose Bancorp, Inc. [Member]
Income Taxes [Line Items]
Valuation allowance against deferred tax	316,000
Melrose Cooperative Bank Foundation [Member]
Income Taxes [Line Items]
Valuation allowance against deferred tax	90,000
Gross deferred tax asset	406,000
Contribution to Melrose Cooperative Bank Foundation	$ 1,362,000

Benefit Plans - 401(k) Savings

Benefit Plans - 401(k) Savings Plan - Additional Information (Detail) - Pentegra Plan [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Employees contribution to benefit plan	100.00%
Employer's expense under 401(k) plan	$ 80,000	$ 70,000
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Matching contribution by employer	5.00%

Benefit Plans - Supplemental Ex

Benefit Plans - Supplemental Executive Retirement Benefits - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Jan. 31, 2016USD ($)	Dec. 31, 2016USD ($)Officers	Dec. 31, 2015USD ($)
Defined Benefit Plan Disclosure [Line Items]
Remaining liability at the end of the period			$ 88,000
Benefits paid	$ 88,000
Employee vesting period		5 years
Executive Officer [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of officers to whom supplemental executive retirement agreement adopted | Officers		2
SERP [Member]
Defined Benefit Plan Disclosure [Line Items]
Liability for retirement benefit plans		$ 208,000	138,000
Employee vesting period		5 years
Expense recognized for benefit plan		$ 70,000	$ 70,000

Benefit Plans - Employee Stock

Benefit Plans - Employee Stock Ownership Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Common stock purchased by ESOP	226,366	226,366
Common stock purchased by ESOP, per share	$ 10
Percentage of aggregate purchase price of common stock	100.00%
Loan repayment period	29 years 2 months 12 days
Defined contribution plan, vesting percentage per year	20.00%
Employee vesting period	5 years
Loans receivable ESOP	$ 2,070,000
Compensation expense recognized	116,000	$ 107,000
Fair value of unallocated ESOP shares	$ 3,657,000

Benefit Plans - Schedule of Pri

Benefit Plans - Schedule of Principal Balance on ESOP Debt (Detail)	Dec. 31, 2016USD ($)
Compensation and Retirement Disclosure [Abstract]
2,017	$ 49,000
2,018	51,000
2,019	52,000
2,020	54,000
2,021	56,000
Thereafter	1,808,000
Loans receivable ESOP	$ 2,070,000

Benefit Plans - Schedule of Sha

Benefit Plans - Schedule of Shares Held by ESOP (Detail) - shares	Dec. 31, 2016	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Allocated	22,638	15,092
Unallocated	203,728	211,274
Shares held by ESOP	226,366	226,366

Benefit Plans - 2015 Equity Inc

Benefit Plans - 2015 Equity Incentive Plan - Additional Information (Detail) - USD ($)	May 12, 2016	Dec. 31, 2016
Restricted Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of unvested restricted stock awarded		44,300
2015 Equity Incentive Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of shares authorized under plan		396,140
2015 Equity Incentive Plan [Member] | Employee Stock Option [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of shares authorized under plan		282,957
Stock-based compensation expense, related tax benefits		$ 13,000
Number of shares granted	224,200
Stock options granted, exercise price	$ 15.13
Weighted average remaining years to vest	5 years
Expected volatility	20.24%
Stock options granted, fair value	$ 15.13
Expected option life	6 years 6 months
Period of U.S. Treasury rate	7 years
Annual risk free interest rate	1.54%
Estimated fair value of award determined by Black-Scholes option pricing model	$ 3.71
Expected forfeiture rate	0.00%
Aggregate intrinsic value		632,000
Stock option expense		$ 106,000
Unrecognized compensation costs, weighted-average recognition period		4 years 3 months 18 days
Number of shares outstanding		224,200
Number of shares exercisable		0
Weighted average remaining contractual terms, Exercisable		9 years 3 months 18 days
Unrecognized compensation costs		$ 725,000
2015 Equity Incentive Plan [Member] | Restricted Stock Awards And Restricted Stock Units [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of shares authorized under plan		13,183
2015 Equity Incentive Plan [Member] | Restricted Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of shares awarded	44,300
Weighted-average grant-date fair values of options granted per share	$ 15.13
Award vesting period	5 years
Minimum vesting period from date of grant	1 year
Stock-based compensation expense		$ 85,000
Stock-based compensation expense, related tax benefits		$ 34,000
Number of unvested restricted stock awarded		44,300
Unrecognized share based compensation expense		$ 585,000
Unrecognized compensation costs, weighted-average recognition period		4 years 3 months 18 days

Financial Instruments - Summary

Financial Instruments - Summary of Financial Instrument Liabilities with off-Balance Sheet Credit Risk (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	$ 25,458	$ 18,996
Commitments to Originate Loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	7,864	5,214
Unused Lines of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	13,742	11,986
Due to Borrowers on Unadvanced Construction Loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	$ 3,852	$ 1,796

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	$ 31,831	$ 45,143
U.S Government and Federal Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	5,688	8,770
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	2,656	2,398
Corporate Bonds and Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	12,493	13,508
Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	2,938	3,029
Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	1,432	2,166
Marketable Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	6,624	15,272
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	9,562	18,301
Level 1 [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	2,938	3,029
Level 1 [Member] | Marketable Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	6,624	15,272
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	22,269	26,842
Level 2 [Member] | U.S Government and Federal Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	5,688	8,770
Level 2 [Member] | Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	2,656	2,398
Level 2 [Member] | Corporate Bonds and Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	12,493	13,508
Level 2 [Member] | Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	$ 1,432	$ 2,166

Fair Value Measurements - Sum69

Fair Value Measurements - Summary of Estimated Fair Values of Bank's Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Financial assets:
Cash and cash equivalents	$ 13,792	$ 16,854	$ 29,491
Available-for-sale securities	31,831	45,143
Federal Home Loan Bank stock	964	437
Co-operative Central Bank deposit	881	881
Accrued interest receivable	572	440
Financial liabilities:
Deposits	214,766	184,527
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	13,792	16,854
Cash and cash equivalents	0	0
Available-for-sale securities	31,831	45,143
Federal Home Loan Bank stock	964	437
Loans, net	213,165	160,303
Co-operative Central Bank deposit	881	881
Accrued interest receivable	572	440
Financial liabilities:
Deposits	214,766	184,527
Deposits	0	0
FHLB advances	10,000
Estimate of Fair Value Measurement [Member]
Financial assets:
Cash and cash equivalents	13,792	16,854
Cash and cash equivalents	0	0
Available-for-sale securities	31,831	45,143
Federal Home Loan Bank stock	964	437
Loans, net	213,582	161,206
Co-operative Central Bank deposit	881	881
Accrued interest receivable	572	440
Financial liabilities:
Deposits	215,443	185,170
Deposits	0	0
FHLB advances	9,930
Level 1 [Member] | Estimate of Fair Value Measurement [Member]
Financial assets:
Cash and cash equivalents	13,792	16,854
Cash and cash equivalents	0	0
Available-for-sale securities	9,562	18,301
Federal Home Loan Bank stock	964	437
Co-operative Central Bank deposit	881	881
Accrued interest receivable	572	440
Financial liabilities:
Deposits	0	0
Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Financial assets:
Cash and cash equivalents	0	0
Available-for-sale securities	22,269	26,842
Financial liabilities:
Deposits	215,443	185,170
Deposits	0	0
FHLB advances	9,930
Level 3 [Member] | Estimate of Fair Value Measurement [Member]
Financial assets:
Cash and cash equivalents	0	0
Loans, net	213,582	161,206
Financial liabilities:
Deposits	$ 0	$ 0

Other Comprehensive Loss - Comp

Other Comprehensive Loss - Components of Other Comprehensive Loss Included in Stockholders' Equity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Net unrealized holding gain (loss) on available-for-sale securities	$ 285	$ (190)
Reclassification adjustment for net realized (gain) loss in net income	(1,004)	52
Other comprehensive loss before income tax effect	(719)	(138)
Income tax benefit	269	68
Other comprehensive loss, net of tax	$ (450)	$ (70)

Other Comprehensive Loss - Co71

Other Comprehensive Loss - Components of Other Comprehensive Loss Included in Stockholders' Equity (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification adjustment for net realized gains in net income	$ 1,004,000	$ (52,000)
Gain on sales of securities, net	1,004,000	409,000
Writedown of securities		461,000
Reclassified Out of Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification adjustment for net realized gains in net income	1,000,000
Gain on sales of securities, net		409,000
Writedown of securities		461,000
Tax benefit, included in income tax expense (benefit)	$ 359,000	$ (17,000)

Regulatory Matters - Additional

Regulatory Matters - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity tier 1 capital, minimum capital requirement ratio	4.50%	4.50%
Tier 1 capital to risk weighted assets, minimum capital requirement ratio	6.00%	6.00%
Tier 1 leverage ratio, minimum capital requirement ratio	4.00%	4.00%
Common equity tier 1 capital, minimum to be well capitalized ratio	6.50%	6.50%
Total capital to risk weighted assets, minimum to be well capitalized ratio	10.00%	10.00%
Tier 1 capital to risk weighted assets, minimum to be well capitalized ratio	8.00%	8.00%
Tier 1 leverage ratio, minimum to be well capitalized ratio	5.00%	5.00%
Tier 1 capital to risk-weighted assets	20.14%	23.66%
Capital Regulations [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity tier 1 capital, minimum capital requirement ratio	4.50%
Total capital to risk weighted assets, minimum capital requirement ratio	8.00%
Tier 1 capital to risk weighted assets, minimum capital requirement ratio	6.00%
Tier 1 leverage ratio, minimum capital requirement ratio	4.00%
Common equity tier 1 capital, minimum to be well capitalized ratio	6.50%
Total capital to risk weighted assets, minimum to be well capitalized ratio	10.00%
Tier 1 capital to risk weighted assets, minimum to be well capitalized ratio	8.00%
Tier 1 leverage ratio, minimum to be well capitalized ratio	5.00%
Maximum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Phase in period term	4 years
Minimum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Phase in period term	2 years
January 1, 2016 [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets	0.625%
Subsequent Period [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets	0.625%
January 1, 2019 [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets	2.50%

Regulatory Matters - Summary of

Regulatory Matters - Summary of Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument Fair Value Carrying Value [Abstract]
Total Capital (to Risk Weighted Assets), Actual	$ 35,236	$ 33,580
Tier 1 Capital (to Risk Weighted Assets), Actual	33,648	32,060
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual	33,648	32,060
Tier 1 Capital (to Average Assets), Actual	$ 33,648	$ 32,060
Total Capital (to Risk Weighted Assets), Actual Ratio	21.09%	24.78%
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio	20.14%	23.66%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Ratio	20.14%	23.66%
Tier 1 Capital (to Average Assets), Actual Ratio	13.58%	14.45%
Total Capital (to Risk Weighted Assets), For Capital Adequacy purpose Amount	$ 13,368	$ 10,839
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy purpose Amount	10,026	8,129
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy purpose Amount	7,519	6,097
Tier 1 Capital (to Average Assets) For Capital Adequacy purpose Amount	$ 9,909	$ 8,877
Total Capital (to Risk Weighted Assets), For Capital Adequacy purpose Ratio	8.00%	8.00%
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy purpose Ratio	6.00%	6.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy purpose Ratio	4.50%	4.50%
Tier 1 Capital (to Average Assets) For Capital Adequacy purpose Ratio	4.00%	4.00%
Total Capital (to Risk Weighted Assets), Capitalized Under Prompt Corrective Action Provisions Amount	$ 16,710	$ 13,549
Tier 1 Capital (to Risk Weighted Assets), Capitalized Under Prompt Corrective Action Provisions Amount	13,368	10,839
Common Equity Tier 1 Capital (to Risk Weighted Assets), Capitalized Under Prompt Corrective Action Provisions Amount	10,861	8,807
Tier 1 Capital (to Average Assets), Capitalized Under Prompt Corrective Action Provisions Amount	$ 12,386	$ 11,096
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	8.00%	8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	6.50%	6.50%
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	5.00%	5.00%

Common Stock Repurchases - Addi

Common Stock Repurchases - Additional Information (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Nov. 30, 2015
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased	229,800	42,000
Average cost of shares repurchased	$ 15.32	$ 14.60
Maximum [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized to be repurchased			283,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended
	Jan. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
FHLB Borrowings		$ 10,000
Subsequent Event [Member]
Subsequent Event [Line Items]
FHLB Borrowings	$ 3,000
FHLB Borrowings, maturity period	3 years
Federal Home Loan Bank, interest rate	1.89%

Condensed Parent Company Only76

Condensed Parent Company Only Financial Statements - Summary of Balance Sheets (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Non-interest bearing deposit in the Bank	$ 11,715,000	$ 11,934,000
Money market funds	2,077,000	1,605,000
Investments in available-for-sale securities (at fair value)	31,831,000	45,143,000
Loan receivable ESOP	2,070,000
Accrued interest receivable	572,000	440,000
Deferred tax assets	854,000	884,000
Other assets	199,000	195,000
Total assets	268,646,000	230,709,000
Liabilities and Stockholders' Equity
Other liabilities	576,000	559,000
Stockholders' equity	43,304,000	45,545,000	$ 45,463,000
Total liabilities and stockholders' equity	268,646,000	230,709,000
Parent Company [Member]
Assets
Non-interest bearing deposit in the Bank	1,881,000	5,170,000
Money market funds	1,558,000	645,000
Cash and cash equivalents	3,439,000	5,815,000	$ 7,349,000
Investments in available-for-sale securities (at fair value)	2,980,000	3,835,000
Investment in subsidiary, Melrose Cooperative Bank	34,399,000	33,246,000
Loan receivable ESOP	2,070,000	2,116,000
Accrued interest receivable	5,000	4,000
Deferred tax assets	388,000	418,000
Other assets	147,000	111,000
Total assets	43,428,000	45,545,000
Liabilities and Stockholders' Equity
Other liabilities	124,000
Stockholders' equity	43,304,000	45,545,000
Total liabilities and stockholders' equity	$ 43,428,000	$ 45,545,000

Condensed Parent Company Only77

Condensed Parent Company Only Financial Statements - Summary of Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Interest and dividend income:
Total interest and dividend income	$ 2,030	$ 1,911	$ 1,769	$ 1,695	$ 1,605	$ 1,545	$ 1,432	$ 1,394	$ 7,405	$ 5,906
Noninterest expense:
Salaries and employee benefits									(2,772)	(2,411)
Other expenses									(152)	(121)
Total noninterest expense	(1,157)	(1,082)	(1,194)	(1,039)	(1,010)	(973)	(929)	(913)	(4,472)	(3,825)
(Loss) income before undistributed income of subsidiary and income tax (benefit) expense									2,218	987
Income before income taxes	917	608	413	280	244	297	237	208
Income tax (benefit) expense	349	222	138	87	90	91	88	59	796	329
Net income	$ 568	$ 386	$ 275	$ 193	$ 154	$ 206	$ 149	$ 149	1,422	658
Parent Company [Member]
Interest and dividend income:
Interest on ESOP loan									69	70
Interest and dividends on securities									71	89
Total interest and dividend income									140	159
Noninterest expense:
Salaries and employee benefits									191
Other expenses									1
Total noninterest expense									192
(Loss) income before undistributed income of subsidiary and income tax (benefit) expense									(52)	159
Undistributed income of subsidiary									1,472	589
Income before income taxes									1,420	748
Income tax (benefit) expense									(2)	90
Net income									$ 1,422	$ 658

Condensed Parent Company Only78

Condensed Parent Company Only Financial Statements - Summary of Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 568	$ 386	$ 275	$ 193	$ 154	$ 206	$ 149	$ 149	$ 1,422	$ 658
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net of accretion									37	42
Increase in accrued interest receivable									(132)	(58)
Deferred tax expense									71	(68)
Increase in other assets									(4)	(20)
Increase in other liabilities									17	(34)
Stock based compensation expense									191
Net cash provided by operating activities									673	667
Cash flows from investing activities:
Purchases of available-for-sale securities									(4,991)	(15,451)
Proceeds from maturities of available-for-sale securities									9,230	8,939
Net cash provided by (used in) investing activities									(40,454)	(30,147)
Cash flows from financing activities:
Cash paid for stock repurchases									(3,520)	(613)
Net cash used in financing activities									36,719	16,843
Parent Company [Member]
Cash flows from operating activities:
Net income									1,422	658
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net of accretion									31	13
Increase in accrued interest receivable									(1)	(1)
Deferred tax expense									29	71
Increase in other assets									(36)	(97)
Increase in other liabilities									124
Stock based compensation expense									191
Equity in undistributed earnings of subsidiary									(1,472)	(589)
Net cash provided by operating activities									288	55
Cash flows from investing activities:
Purchases of available-for-sale securities										(1,945)
Proceeds from maturities of available-for-sale securities									810	923
Repayment of principal on ESOP loan									46	46
Net cash provided by (used in) investing activities									856	(976)
Cash flows from financing activities:
Cash paid for stock repurchases									(3,520)	(613)
Net cash used in financing activities									(3,520)	(613)
Net decrease in cash and cash equivalents									(2,376)	(1,534)
Cash and cash equivalents at beginning of year				$ 5,815				$ 7,349	5,815	7,349
Cash and cash equivalents at end of year	$ 3,439				$ 5,815				$ 3,439	$ 5,815

Quarterly Data - Summary of Qua

Quarterly Data - Summary of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Interest and dividend income	$ 2,030	$ 1,911	$ 1,769	$ 1,695	$ 1,605	$ 1,545	$ 1,432	$ 1,394	$ 7,405	$ 5,906
Interest expense	455	429	395	361	351	344	336	316	1,640	1,276
Net interest and dividend income	1,575	1,482	1,374	1,334	1,254	1,201	1,096	1,078	5,765	4,630
Provision for loan losses	30	117	103	60	16	35	9
Net interest and dividend income after provision for loan losses	1,545	1,365	1,271	1,274	1,238	1,166	1,087	1,078	5,455	4,570
Total noninterest income	529	325	336	45	16	104	79	43	1,235	242
Total noninterest expense	1,157	1,082	1,194	1,039	1,010	973	929	913	4,472	3,825
Income before income taxes	917	608	413	280	244	297	237	208
Provision for income taxes	349	222	138	87	90	91	88	59	796	329
Net income	$ 568	$ 386	$ 275	$ 193	$ 154	$ 206	$ 149	$ 149	$ 1,422	$ 658
Earnings per share:
Basic	$ 0.24	$ 0.16	$ 0.11	$ 0.08	$ 0.06	$ 0.08	$ 0.06	$ 0.06	$ 0.59	$ 0.25
Diluted	$ 0.24	$ 0.16	$ 0.11	$ 0.08	$ 0.06	$ 0.08	$ 0.06	$ 0.06	$ 0.59	$ 0.25