MB Bancorp (MBCQ) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 13, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	MB Bancorp Inc
Entity Central Index Key	1,617,291
Trading Symbol	mbcq
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,926,800
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Cash and due from banks	$ 2,508	$ 2,924
Interest bearing deposits in other banks	2,330	797
Total cash and cash equivalents	4,838	3,721
Other interest-bearing deposits in other banks	14,583	18,310
Investment securities available-for-sale - at fair value	3,543	8,480
Investment securities held to maturity - amortized cost	21,289	9,145
Loans, net of unearned fees	94,008	94,686
Less allowance for loan losses	(1,306)	(1,561)
Loans, net	92,702	93,125
Real estate ground rents	833	831
Less allowance for credit losses	(139)	(136)
Ground rents, net	694	695
Federal Home Loan Bank stock, at cost	673	688
Property and equipment - net	3,776	3,793
Deferred income taxes	629	793
Bank-owned life insurance	908	896
Accrued interest receivable and other assets	610	543
TOTAL ASSETS	144,245	140,189
LIABILITIES:
Deposits	96,758	92,692
Federal Home Loan Bank advances	12,000	12,000
Deferred compensation liability	159	246
Accounts payable and other liabilities	360	370
Total liabilities	109,277	105,308
STOCKHOLDERS' EQUITY:
Common stock .01 par value; authorized 19,000,000 shares; issued and outstanding, 2,116,000 shares at March 31, 2016 and December 31, 2015	21	21
Additional paid-in capital	20,162	20,158
Retained earnings - substantially restricted	16,285	16,284
Accumulated other comprehensive income (loss)	42	(11)
Unearned ESOP shares	(1,542)	(1,571)
Total stockholders' equity	34,968	34,881
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 144,245	$ 140,189

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parantheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	19,000,000	19,000,000
Common stock, shares issued	2,116,000	2,116,000
Common stock, shares outstanding	2,116,000	2,116,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
INTEREST INCOME:
Interest and fees on loans	$ 947	$ 1,062
Interest on federal funds sold and other investments	38	40
Interest and dividends on investment securities	168	117
Total interest income	1,153	1,219
INTEREST EXPENSE:
Interest on deposits	187	184
Interest on short-term borrowings		2
Interest on long-term borrowings	126	125
Total interest expense	313	311
NET INTEREST INCOME	840	908
(REVERSAL) PROVISION FOR LOAN LOSSES	(255)	6
NET INTEREST INCOME AFTER (REVERSAL) PROVISION FOR LOAN LOSSES	1,095	902
NON-INTEREST INCOME:
Service charges on deposit accounts	3	2
Fees and charges on loans	8	12
Increase in cash surrender value of life insurance	12	13
Gain on sale of other real estate owned	2	5
Gain on investment securities	25
Ground rent fees	13	9
Other income	5	5
Total non-interest income	68	46
NON-INTEREST EXPENSE:
Salaries and employee benefits	593	609
Occupancy expenses	117	126
Furniture and equipment expenses	12	12
Legal and professional expenses	66	83
Data processing and other outside services	67	63
FDIC insurance premiums	22	26
Advertising and marketing related expenses	$ 8	21
Provision for loss on other real estate owned		51
Reversal for loss on ground rents	$ (2)	(7)
Other expenses	151	149
Total non-interest expenses	1,034	1,133
INCOME (LOSS) BEFORE INCOME TAXES	129	(185)
INCOME TAX EXPENSE	128	19
NET INCOME (LOSS)	$ 1	$ (204)
Basic earnings (loss) per share (in dollars per share)	$ 0	$ (0.10)
Diluted earnings (loss) per share (in dollars per share)	$ 0	$ (0.10)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 1	$ (204)
OTHER COMPREHENSIVE INCOME (LOSS) ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES:
Unrealized gains arising during the period	112
Reclassification of gain included in net income	(25)
Unrealized gains arising during the period	87
Income taxes on unrealized gains arising during the period	(34)
TOTAL COMPREHENSIVE INCOME (LOSS) ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES	53
COMPREHENSIVE INCOME (LOSS)	$ 54	$ (204)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common stock	Additional Paid In Capital	Retained Earnings	Unearned ESOP Shares	Accumulated Other Comprehensive Income (Loss)	Total
Balances at Dec. 31, 2014	$ 21	$ 20,144	$ 17,318	$ (1,684)	$ 15	$ 35,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Income) loss			(204)			$ (204)
Net unrealized gain on available- for sale securities, net of taxes of ($34)
Stock-based compensation		1		29		$ 30
Balances at Mar. 31, 2015	21	20,145	17,114	(1,655)	15	35,640
Balances at Dec. 31, 2015	21	20,158	16,284	(1,571)	(11)	34,881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Income) loss			1			1
Net unrealized gain on available- for sale securities, net of taxes of ($34)					53	53
Stock-based compensation		4		29		33
Balances at Mar. 31, 2016	$ 21	$ 20,162	$ 16,285	$ (1,542)	$ 42	$ 34,968

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parentheticals) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Statement of Stockholders' Equity [Abstract]
Net unrealized loss on securities available-for-sale, Tax Effect	$ (34)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 1	$ (204)
Adjustment to reconcile net income (loss) to net cash used in operating activities:
Depreciation expense	34	35
Increase in cash surrender value of life insurance	(12)	(13)
Net amortization/accretion of premiums and discounts	(2)	(3)
(Reversal) provision for loan losses	(255)	6
Reversal for ground rent losses	(2)	(7)
Decrease in deferred income taxes	$ 131	20
Provision for loss on other real estate owned		51
Non-cash compensation under stock-based benefit plan	$ 33	30
Gain on sale of other real estate owned	(2)	(5)
Increase in accrued interest and other assets	(67)	(21)
Gain on redemption of investment securities	(25)
Decrease in deferred compensation liability	(87)	(101)
(Decrease) increase in accounts payable and other liabilities	(7)	46
Net cash used in operating activities	(260)	(166)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net decrease (increase) in other interest bearing deposits in other banks	3,727	(11,205)
Proceeds from calls/repayments of available-for-sale investments	5,047	29
Purchase of held-to-maturity investments	(14,347)
Proceeds from maturity/repayments of held-to-maturity investments	2,207	1,305
Net decrease in loans	676	2,163
Proceeds from sale of ground rents	3	3
Purchase of property, plant and equipment	(17)	(18)
Redemption of Federal Home Loan Bank stock	15	124
Net cash used in investing activities	(2,689)	(7,599)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	4,066	(1,135)
Federal Home Loan Bank advances	1,000	3,750
Federal Home Loan Bank repayments	(1,000)	(4,750)
Net cash provided by (used in) financing activities	4,066	(2,135)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,117	(9,900)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	3,721	15,190
CASH AND CASH EQUIVALENTS AT END OF YEAR	4,838	5,290
Supplemental cash flow information:
Interest paid	$ 313	$ 305
Income taxes paid
Noncash:
Transfer of other real estate owned to loans		$ 41

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES In 2002, Bohemian American Federal Savings and Loan Association, Inc., incorporated in 1899 in the State of Maryland, merged with Madison & Bradford Federal Savings & Loan Association, incorporated in 1904 in the State of Maryland, to form Madison Bohemian Savings Bank. On September 1, 2009 Madison Bohemian Savings Bank changed its name to Madison Bank of Maryland (the “Bank”). The Bank’s principal business is providing mortgage and consumer loans in Baltimore and Harford County. The Bank also provides construction and lot loans. Significant accounting policies followed by the Bank are presented below. On August 26, 2014, the Bank’s Board of Directors approved a plan (the “Plan”) to convert from a federally-chartered mutual savings bank to a federally-chartered stock savings bank form of organization, which was subsequently approved by the Bank’s members. The Plan included the formation of MB Bancorp, Inc (the “Company”) to own all of the outstanding capital stock of the Bank. On December 29, 2014, the Bank completed its mutual-to-stock conversion. On that date, the Bank became the wholly owned subsidiary of the Company and the Company sold 2,116,000 shares of its common stock for gross offering proceeds of $21,160,000. The cost of conversion and issuing and selling the capital stock of approximately $995,000 was deducted from the proceeds of the offering. At the time of conversion, the Bank established a liquidation account in an amount equal to its retained earnings as reflected in the latest balance sheet used in the final conversion prospectus. The liquidation account will be maintained for the benefit of eligible account holders who continue to maintain their deposit accounts in the Bank after conversion. The liquidation account will be reduced annually to the extent that eligible depositors have reduced their qualifying deposits. In the event of a complete liquidation of the Bank, eligible depositors who continue to maintain accounts in accordance with Office of the Comptroller of the Currency (“OCC”) regulations will be entitled to receive a distribution from the liquidation account before any liquidation may be made with respect to the Company’s common stock. The conversion was accounted for as change in corporate form with the historic base of the Bank’s assets, liabilities and equity unchanged as a result. The Bank may not declare or pay a cash dividend if the effect thereof would cause its net worth to be reduced below either the amount required for the liquidation account discussed below or the regulatory capital requirements imposed by the OCC. Unaudited Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, the accompanying consolidated financial statements as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 contains all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at March 31, 2016. Certain prior period information has been reclassified to conform to the current period presentation. These statements should be read in conjunction with the audited consolidation financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations and cash flows for the three months ended March 31, 2016 and 2015 are not necessarily indicative of the results to be expected for the year ended December 31, 2016. Principles of Consolidation The consolidated financial statements include the accounts of MB Bancorp, Inc. (“The Company”) and it’s wholly owned subsidiaries, Madison Bank of Maryland (“The Bank”), 1920 Rock Spring Road, LLC formed in 1998 to own and hold real estate and Mutual, LLC formed in 2011 to hold other real estate owned. All significant intercompany accounts and transactions have been eliminated. The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles and to general practices in the banking industry. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Loans Loans are stated at the principal amount outstanding net of any deferred fees and costs. Interest income on loans is accrued at the contractual rate on the principal amount outstanding. It is the Company’s policy to discontinue the accrual of interest when circumstances indicate that collection is doubtful. Direct loan origination fees, net of direct loan origination costs, are amortized or accreted over the contractual life of the loan using the interest method. Loans are considered impaired when, based on current information; it is probable that the Company will not collect all principal and interest payments according to contractual terms. Generally, loans are considered impaired once principal and interest payments are past due and they are placed on non-accrual. Management also considers the financial condition of the borrower, cash flows of the loan and the value of the related collateral. Impaired loans do not include large groups of smaller balance homogeneous credits such as residential real estate and consumer installment loans, which are evaluated collectively for impairment. Loans specifically reviewed for impairment are not considered impaired during periods of “minimal delay” in payment (usually ninety days or less) provided eventual collection of all amounts due is expected. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, the Company may measure impairment based on a loan’s observable market price or the fair value of the collateral, if the loan is collateral dependent. The Company recognizes interest income on impaired loans on a cash basis if the borrower demonstrates the ability to meet the contractual obligation and collateral is sufficient. If there is doubt regarding the borrower’s ability to make payments or the collateral is not sufficient, payments received are accounted for as a reduction in principal. A loan is considered to be a troubled debt restructured loan (“TDR”) when the Company grants a concession to the borrower that the Company would not otherwise consider to a borrower of comparable risk and placed on non-accrual status. Such concessions include the reduction of interest rates, forgiveness of all or a portion of principal or interest, extension of loan term or other modifications at interest rates that are less than the current market rate for new obligations with similar risk. If a loan is in nonaccrual status at the time we restructure it and classify the restructure as a troubled debt restructuring, it is our policy to maintain the loan as nonaccrual until we receive six consecutive monthly payments under the restructured terms. TDR loans that are in compliance with their modified terms and that yield a market rate may be removed from the TDR status after a period of one year. Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Company maintains an allowance for loan losses at an amount estimated to equal all loan losses incurred in our loan portfolio that are both probable and reasonable to estimate at a balance sheet date. The evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, and current economic conditions and trends that may affect the borrowers’ ability to pay. The allowance for loan losses represents an estimation done pursuant to either Accounting Standards Codification (“ASC”) Topic 450 “ Contingencies Receivables While management believes it has established the allowance for loan losses in accordance with generally accepted accounting principles and has taken into account the views of its regulators and the current economic environment, there can be no assurance that in the future the Bank’s regulators or the economic environment will not require further increases in the allowance. Other Real Estate Owned Real estate acquired in satisfaction of a debt is carried at fair value net of estimated selling costs. Costs incurred in maintaining foreclosed real estate and write-downs to reflect declines in the fair value of the properties after acquisition are included in noninterest expenses. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Bank, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Income Taxes The Bank uses the liability method of accounting for income taxes. Under the liability method, deferred-tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities ( i.e., ASC Topic 740, “ Income Taxes, Recognition of Deferred Tax Valuation Allowance As of December 31, 2015, the Bank had remained in a cumulative loss position for three consecutive years and consequently management reevaluated the need for a valuation allowance of the deferred tax asset balance. Management’s evaluation included: management’s ability to fully implement our strategic plan, which included the ability to raise capital through the proposed public stock offering; additional expenses expected to be incurred as the result of becoming a public company; and the ability to generate sufficient taxable income to fully realize the Bank’s net operating loss carryforwards. Management concluded that it is more likely than not the Bank will be unable to generate sufficient taxable income in the foreseeable future to fully utilize the cumulative net operating loss carryforward and, therefore, established a valuation allowance to offset the net operating loss carryforward related deferred tax asset.

IMPACT OF RECENT ACCOUNTING PRO

IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	2. IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contract with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016. I n July 2015, the FASB voted to approve deferring the effective date by one year (i.e., interim and annual reporting periods beginning after December 15, 2017). In January 2016, FASB issues ASU 2016-1, “No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, FASB issued ASU-2016-02, “ Leases (Topic 842).

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	3. INVESTMENT SECURITIES The carrying amount and estimated fair market value of investment securities classified as available-for-sale are summarized as follows: March 31, 2016 (unaudited) (Dollars in thousands) Amortized Gross Gross Estimated Investments available-for-sale: U.S. Government securities: FFCB bonds. $ 1,998 $ 25 $ — $ 2,023 Total U.S. Government securities. . 1,998 25 — 2,023 Mortgage-backed securities: FHLMC certificates 675 18 — 693 FNMA certificates 108 6 — 114 GNMA certificates 694 19 — 713 Total mortgage-backed securities 1,477 43 — 1,520 Total investments available-for-sale $ 3,475 $ 68 $ — $ 3,543 December 31, 2015 (Dollars in thousands) Amortized Gross Gross Estimated Investments available-for-sale: U.S. Government securities: FHLMC bonds $ 1,983 $ — $ (19 ) $ 1,964 FFCB bonds 4,991 3 (14 ) 4,980 Total U.S. Government securities 6,974 3 (33 ) 6,944 Mortgage-backed securities: FHLMC certificates 700 7 (4 ) 703 FNMA certificates 117 6 — 123 GNMA certificates 708 2 — 710 Total mortgage-backed securities 1,525 15 (4 ) 1,536 Total investments available-for-sale $ 8,499 $ 18 $ (37 ) $ 8,480 The carrying amount and estimated fair market value of investment securities classified as held-to-maturity are summarized as follows: March 31, 2016 (unaudited) (Dollars in thousands) Amortized Gross Gross Estimated Investments held-to-maturity: U.S. Government securities: FHLB bonds $ 2,500 $ 1 $ (1 ) $ 2,500 FNMA bonds 1,000 18 — 1,018 FFCB bonds 13,847 13 — 13,860 Total U.S. Government securities 17,347 32 (1 ) 17,378 Mortgage-backed securities: FHLMC certificates 1,068 76 — 1,144 FNMA certificates 2,498 160 — 2,658 GNMA certificates 376 35 — 411 Total mortgage backed securities 3,942 271 — 4,213 Total investments held-to-maturity $ 21,289 $ 303 $ (1 ) $ 21,591 December 31, 2015 (Dollars in thousands) Amortized Gross Gross Estimated Investments held-to-maturity: U.S. Government securities: FHLMC bonds $ 998 $ — $ (21 ) $ 977 FNMA bonds 1,000 — (10 ) 990 FFCB bonds 3,000 — (57 ) 2,943 Total U.S. Government securities 4,998 — (88 ) 4,910 Mortgage-backed securities: FHLMC certificates 1,156 78 — 1,234 FNMA certificates 2,591 125 — 2,716 GNMA certificates 400 35 — 435 Total mortgage backed securities 4,147 238 — 4,385 Total investments held-to-maturity $ 9,145 $ 238 $ (88 ) $ 9,295 Below are schedules of both available-for-sale and held-to-maturity securities with unrealized losses as of March 31, 2016 (unaudited) and December 31, 2015 and the length of time the individual security has been in a continuous unrealized loss position. Unrealized losses are the result of interest rate levels differing from those existing at the time of purchase of the securities and as to mortgage-backed securities, estimated prepayment speeds. At March 31, 2016 (unaudited) and December 31, 2015, these unrealized losses are considered temporary as they reflect changes in fair values and are subject to change daily as interest rates fluctuate and the Bank has the ability and intent to hold the securities until the earlier of maturity or recovery. March 31, 2016 (unaudited) Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ — $ — $ — $ — $ — $ — U.S. Government securities — — 1,500 (1 ) 1,500 (1 ) Total temporarily impaired securities $ — $ — $ 1,500 $ (1 ) $ 1,500 $ (1 ) December 31, 2015 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ — $ — $ 1,117 $ (4 ) $ 1,117 $ (4 ) U.S. Government securities — — 10,852 (121 ) 10,852 (121 ) Total temporarily impaired securities $ — $ — $ 11,969 $ (125 ) $ 11,969 $ (125 ) The scheduled maturities of debt securities at March 31, 2016 (unaudited) were as follows: Amortized (in thousands) Fair (in thousands) Due over one year through five years $ — $ — Due over five years through ten years 10,148 10,194 Due after ten years 9,197 9,207 Mortgage-backed securities 5,419 5,733 Total $ 24,764 $ 25,134

LOANS RECEIVABLE

LOANS RECEIVABLE	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
LOANS RECEIVABLE	4. LOANS RECEIVABLE Loans receivable consist of the following: March 31, December 31, (Dollars in thousands) (unaudited) Secured by real estate: Residential: One-to four-family $ 76,060 $ 76,632 Multi-family 2,085 2,100 Total 78,145 78,732 Non-residential 7,930 8,290 Construction and land loans 5,138 4,835 Home equity line of credit (“HELOC”) 3,700 3,695 Consumer and other loans: Loans to depositors, secured by savings 25 27 94,938 95,579 Add: Net (discount) premium on purchased loans (9 ) (9 ) Unamortized net deferred costs 22 26 Less: Undisbursed portion of construction loans (895 ) (871 ) Unearned net loan origination fees (48 ) (39 ) Less allowance for loan losses (1,306 ) (1,561 ) Loans receivable, net $ 92,702 $ 93,125 The risks associated with lending activities differ among the various loan types and are subject to the impact of changes in interest rates, market conditions of collateral securing the loans, and general economic conditions. All of these factors may adversely impact the borrower’s ability to repay its loans and impact the associated collateral. Residential real estate includes mortgage loans with the underlying one- to four-family or multi-family residential property (primarily owner-occupied) securing the debt. The Bank’s attempt to minimize risk exposure is minimized in these types of loans through the evaluation of the credit worthiness of the borrower, including debt-to-income ratios and underwriting standards which limit the loans-to-value ratio to generally no more than 80% unless the borrower obtains private mortgage insurance. Residential real estate also includes home equity loans and lines of credit. These present a slightly higher risk to the Bank than one-to four-family first lien mortgages as they can be first or second liens on the underlying property. These loans are generally limited with respect to loan-to-value ratios and the credit worthiness of the borrower is considered including debt-to-income ratios. Non-residential real estate includes various types of loans which have differing levels of credit risk associated with them. Owner-occupied commercial real estate loans are generally dependent upon the successful operation of the borrower’s business, with cash flows generated from the business being the primary source of loan repayment. If the business suffers a downturn in sales or profitability, the borrower’s ability to repay the loan could be in jeopardy. The Bank, attempts to minimize this credit risk through its underwriting standards which include the credit worthiness of the borrower, a limitation on loan amounts to the value of the property securing the loan, and an evaluation of debt service coverage ratios. Non-owner occupied commercial real estate loans present a different credit risk to the Bank than owner-occupied commercial real estate, as the repayment of the loan is dependent upon the borrower’s ability to generate a sufficient level of occupancy to produce rental income that exceeds debt service requirement and operating expenses. Lower occupancy or lease rates may result in a reduction in cash flows, which hinder the ability of the borrower to meet debt service requirements, and may result in lower collateral values. The Bank generally follows the same underwriting standards for these loans as with owner occupied commercial real estate, but recognizes the greater risk inherent in these credit relationships in its loan pricing. Construction and land loans consist of one- to four-family residential construction and land development loans. The risk of loss on these loans is largely dependent on the Bank’s ability to assess the property’s value at the completion of the project. During the construction phase, a number of factors could potentially negatively impact the collateral value, including cost overruns, delays in completing the project, competition and real estate market conditions which may change based on the supply of similar properties in the area. In the event the collateral value at the completion of the project is not sufficient to cover the outstanding loan balance, the Bank must rely upon other repayment sources, including the borrowers and/or guarantors of the project or other collateral securing the loan. The Bank attempts to mitigate credit risk through strict underwriting standards including evaluation of the credit worthiness of the borrowers and their success in other projects, adequate loan-to-value ratios and continual monitoring of the project during its construction phase. Consumer loans consist primarily of loans secured by the borrower’s deposit balance at the Bank. As these loans are typically 100% secured by savings and certificate of deposits, the risk of credit loss is not deemed significant. The Bank maintains an allowance for loan losses at an amount estimated to equal all loan losses incurred in our loan portfolio that are both probable and reasonable to estimate at a balance sheet date. Our determination as to the classification of our assets is subject to review by the OCC and the FDIC. We regularly review our asset portfolio to determine whether any assets require classification in accordance with applicable regulatory guidelines. The Bank provides for loan losses based upon the consistent application of our documented allowance for loan loss methodology. All loan losses are charged to the allowance for loan losses and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors which, in our judgment, deserve current recognition is estimating probable losses. We regularly review the loan portfolio and make provisions for loan losses in order to maintain the allowance for loan losses in accordance with Generally Accepted Accounting Principles (“GAAP”). The allowance for loan losses consists of two components: • Specific allowances Losses on non-modified loans are charged-off in the month the loss is measured. Non-modified loans are measured for loss at the point the loan becomes 90 to 120 days delinquent or at maturity if an extension is requested. We obtain a third party appraisal to determine the fair value of the collateral. We measure these loans for loss by using the fair value of collateral less disposition costs method and if any loss is determined it is charged off directly. Subsequently, these loans are re-evaluated at least annually by obtaining an updated third party appraisal to determine if there should be any further loss recognition. • General allowances Management’s periodic evaluation of the adequacy of the allowance is based on the Bank’s historical loan loss experience, known and inherent losses in the portfolio, adverse situations that may affect the borrower’s ability to repay, and the estimated value of any underlying collateral. The historical loss experience is further adjusted for qualitative factors which include: changes in composition of the loan portfolio, current economic conditions, trends of past due and classified loans, quality of loan review system and Board oversight, existence and effect of concentrations and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change, including the amounts and timing of future cash flows expected to be received on impaired loans. A loan is considered past due or delinquent when a contractual payment is not paid on the day it is due. Loans are generally placed on non-accrual status when they become 120 days delinquent. We may choose to consider loans from 90 to 119 days delinquent to be non-accrual, and generally do so except where a borrower has a history of periodically bringing a loan current after being 90 days or more delinquent. If the loan is less than 90 days delinquent, but information is brought to our attention that indicates the collection of interest is doubtful, the loan will immediately be considered non-accrual. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis. If the loan is deemed collateral dependent, the impairment is measured on the net realizable value of the collateral. If loan repayment is not deemed collateral dependent, impairment is measured on the net present value of the expected discounted future cash flows. The Bank charges off loans after, the loan or a portion of the loan is deemed to be a loss and the loss amount has been determined. The loss amount is charged to the established allowance for loan losses. Each loss is evaluated on its specific facts regarding the appropriate timing to recognize the loss. Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Unallocated Total Allowance for loan losses: Beginning balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs — — — — — Recoveries — — — — — Provisions 4 2 (11 ) (250 ) (255 ) Ending balance $ 964 $ 196 $ 146 $ — $ 1,306 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 41 $ — $ — — $ 41 Ending balance: collectively evaluated for impairment $ 923 $ 196 $ 146 $ — $ 1,265 Loans: Ending balance: individually evaluated for impairment $ 3,036 $ 1,275 $ 1,953 $ — $ 6,264 Ending balance: collectively evaluated for impairment $ 78,834 $ 6,655 $ 3,185 $ — $ 88,674 Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2015 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Unallocated Total Allowance for loan losses: Beginning balance $ 1,228 $ 79 $ 174 $ 250 $ 1,731 Charge-offs (16 ) — — — (16 ) Recoveries 2 — — — 2 Provisions 6 — — — 6 Ending balance $ 1,220 $ 79 $ 174 $ 250 $ 1,723 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 51 $ — $ — — $ 51 Ending balance: collectively evaluated for impairment $ 1,169 $ 79 $ 174 $ 250 $ 1,672 Loans: Ending balance: individually evaluated for impairment $ 5,387 $ 1,963 $ 2,221 — $ 9,571 Ending balance: collectively evaluated for impairment $ 82,801 $ 7,398 $ 2,683 — $ 92,882 Allowance for loan losses and recorded investment in loans for the year ended December 31, 2015 is as follows: (Dollars in thousands) Residential Non- Construction Unallocated Total Allowance for loan losses: Beginning balance $ 1,228 $ 79 $ 174 $ 250 $ 1,731 Charge-offs (22 ) (247 ) (106 ) — (375 ) Recoveries 29 5 170 — 204 Provisions (275 ) 357 (81 ) — 1 Ending balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 46 $ — $ — — $ 46 Ending balance: collectively evaluated for impairment $ 914 $ 194 $ 157 $ 250 $ 1,561 Loans: Ending balance: individually evaluated for impairment $ 3,189 $ 1,299 $ 1,971 — $ 6,459 Ending balance: collectively evaluated for impairment $ 79,265 $ 6,991 $ 2,864 — $ 89,120 Credit risk profile by internally assigned classification as of March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Total Non-classified $ 78,916 $ 6,655 $ 3,185 $ 88,756 Special mention 1,635 165 92 1,892 Substandard 1,319 1,110 1,861 4,290 Doubtful — — — — Loss — — — — Total $ 81,870 $ 7,930 $ 5,138 $ 94,938 Credit risk profile by internally assigned classification as of December 31, 2015 is as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-classified $ 79,697 $ 7,156 $ 2,863 $ 89,716 Special mention 1,481 — 94 1,575 Substandard 1,276 1,134 1,878 4,288 Doubtful — — — — Loss — — — — Total $ 82,454 $ 8,290 $ 4,835 $ 95,579 • Special Mention • Substandard • Doubtful • Loss Impaired loans as of and for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,219 $ 1,275 $ 1,953 $ 5,447 Unpaid principal balance 2,548 1,552 3,031 7,131 Average recorded investment, for the three months ended March 31, 2016 2,320 1,382 2,006 5,708 Interest income recognized 32 9 25 66 Interest income foregone 7 3 2 12 With an allowance recorded: Recorded investment 817 — — 817 Unpaid principal balance 817 — — 817 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 696 — — 696 Interest income recognized 6 — — 6 Interest income foregone — — — — Total Recorded investment 3,036 1,275 1,953 6,264 Unpaid principal balance 3,365 1,552 3,031 7,948 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 3,016 1,382 2,006 6,404 Interest income recognized 38 9 25 72 Interest income foregone 7 3 2 12 Impaired loans as of and for the three months ended March 31, 2015 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- residential Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 4,322 $ 1,963 $ 2,221 $ 8,506 Unpaid principal balance 5,127 2,007 3,241 10,375 Average recorded investment, for the three months ended March 31, 2015 4,357 1,966 2,227 8,550 Interest income recognized 57 11 28 96 Interest income foregone 20 13 3 36 With an allowance recorded: Recorded investment 1,065 — — 1,065 Unpaid principal balance 1,065 — — 1,065 Related allowance 51 — — 51 Average recorded investment, for the three months ended March 31, 2015 1,067 — — 1,067 Interest income recognized 8 — — 8 Interest income foregone — — — — Total Recorded investment 5,387 1,963 2,221 9,571 Unpaid principal balance 6,192 2,007 3,241 11,440 Related allowance 51 — — 51 Average recorded investment, for the three months ended March 31, 2015 5,424 1,966 2,227 9,617 Interest income recognized 65 11 28 104 Interest income foregone 20 13 3 36 Impaired loans as of and for the year ended December 31, 2015 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,199 $ 1,299 $ 1,971 $ 5,469 Unpaid principal balance 2,528 1,570 3,048 7,146 Average recorded investment, for the twelve months ended December 31, 2015 3,321 1,766 2,176 7,263 Interest income recognized 270 44 104 418 Interest income foregone 39 28 7 74 With an allowance recorded: Recorded investment 990 — — 990 Unpaid principal balance 990 — — 990 Related allowance 46 — — 46 Average recorded investment, for the twelve months ended December 31, 2015 880 — — 880 Interest income recognized 33 — — 33 Interest income foregone — — — — Total Recorded investment 3,189 1,299 1,971 6,459 Unpaid principal balance 3,518 1,570 3,048 8,136 Related allowance 46 — — 46 Average recorded investment, for the twelve months ended December 31, 2015 4,201 1,766 2,176 8,143 Interest income recognized 303 44 104 451 Interest income foregone 39 28 7 74 An aged analysis of past due loans as of March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Total Current $ 80,260 $ 7,825 $ 5,100 $ 93,185 30 – 59 days past due 1,044 — — 1,044 60 – 89 days past due 229 — 38 267 Greater than 90 day past due and still accruing 56 — — 56 Greater than 90 days past due 281 105 — 386 Total past due 1,610 105 38 1,753 Total $ 81,870 $ 7,930 $ 5,138 $ 94,938 An aged analysis of past due loans as of December 31, 2015 are as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total Current $ 81,278 $ 8,187 $ 4,796 $ 94,261 30 – 59 days past due 910 — 39 949 60 – 89 days past due 6 — — 6 Greater than 90 day past due and still accruing — — — — Greater than 90 days past due 260 103 — 363 Total past due 1,176 103 39 1,318 Total $ 82,454 $ 8,290 $ 4,835 $ 95,579 Non-performing loans as of March 31, 2016 (unaudited) are as follows: (Dollars in thousands) Residential Non- Construction Total Non-accruing troubled debt restructured loans $ 425 $ 1,078 $ 38 $ 1,541 Other non-accrual loans 292 — — 292 Total non-accrual loans 717 1,078 38 1,833 Accruing troubled debt restructured loans 1,518 197 1,823 3,538 Total $ 2,235 $ 1,275 $ 1,861 $ 5,371 Non-performing loans as of December 31, 2015 are as follows: (Dollars in thousands) Residential Non- Construction Total Non-accruing troubled debt restructured loans $ 430 $ 1,097 $ 39 $ 1,566 Other non-accrual loans 294 — — 294 Total non-accrual loans 724 1,097 39 1,860 Accruing troubled debt restructured loans 1,657 202 1,838 3,697 Total $ 2,381 $ 1,299 $ 1,877 $ 5,557 Troubled debt restructurings (“TDRs”) are modifications of loans to assist borrowers who are unable to meet the original terms of their loans, in an effort to minimize the potential loss on the loan. Modifications of the loan terms includes but is not necessarily limited to: reduction of interest rates, forgiveness of all or a portion of principal or interest, extension of loan term or other modifications at interest rates that are less than the current market rate for new obligations with similar risk. If a loan is in non-accrual status at the time we restructure it and classify the restructure as a troubled debt restructuring, it is our policy to maintain the loan as nonaccrual until we receive six consecutive payments under the restructured terms. TDR loans that are in compliance with their modified terms and that yield a market rate, may be removed from the TDR status after a period of one year. There were no troubled debt restructurings during the three months ended March 31, 2016 (unaudited). The following includes loans classified as troubled debt restructurings during the three months ended March 31, 2015 (unaudited). (Dollars in thousands) Number of Contracts Pre- Outstanding Recorded Investment Post- Outstanding Recorded Investment Residential real estate and consumer 7 $ 844 $ 844 Non-residential real estate — — — Construction and land — — — Total 7 $ 844 $ 844 There were no troubled debt restructures that subsequently defaulted during the 3 months ended March 31, 2016 (unaudited) and for the 3 months ended March 31, 2015. Loans serviced by the Bank for the benefit of others totaled $430,000 and $434,000 at March 31, 2016 (audited) and December 31, 2015, respectively. There were no consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure as of March 31, 2016 (unaudited).

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	3 Months Ended
	Mar. 31, 2016
Other Real Estate [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED The balance in other real estate owned at March 31, 2016 (unaudited) and December 31, 2015 was zero. The activity in residential other real estate owned is as follows: March 31, December 31, (Dollars in thousands) (unaudited) Beginning balance $ — $ 379 Additions — — Transfers from Loans — — Transfers to Loans — (41 ) Sales — (180 ) Provisions — (158 ) Ending balance $ — $ —

DEPOSITS

DEPOSITS	3 Months Ended
	Mar. 31, 2016
Deposit Liabilities Disclosure [Abstract]
DEPOSITS	6. DEPOSITS Deposits are summarized as follows: March 31, 2016 December 31, (Dollars in thousands) (unaudited) Non-interest-bearing deposits $ 1,260 $ 1,758 NOW and Money market 20,418 20,591 Savings 14,570 14,721 Certificates of deposit 60,510 55,622 Total deposits $ 96,758 $ 92,692 The aggregate amount of time deposits in denominations of $250,000 or more as of March 31, 2016 (unaudited) and December 31, 2015 was $1,832,000 and $1,575,000, respectively. Deposit amounts in excess of $250,000 generally are not insured by the Federal Deposit Insurance Corporation. At March 31, 2016 (unaudited), the schedule maturities of certificates of deposit are as follows: (Dollars in thousands) 2016 $ 22,883 2017 13,620 2018 7,621 2019 5,913 2020 6,126 2021 4,347 Total $ 60,510 Executive officers’ and directors’ deposits were $632,000 and $609,000 at March 31, 2016 (unaudited) and December 31, 2015, respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	7. INCOME TAXES The sources of deferred tax assets and liabilities and the tax effect of each are as follows: March 31, December 31, (Dollars in thousands) (unaudited) Deferred tax assets: Deferred loan fees and costs, net $ 10 $ 5 Allowance for credit losses 515 616 Deferred compensation 63 97 Allowance for ground rents 55 54 Allowance for delinquent mortgage interest 150 149 Contribution carryforward 2 2 Net operating loss carryforward 1,531 1,442 Unrealized loss on available-for-sale securities — 7 Total deferred tax assets 2,326 2,372 Valuation allowance (1,531 ) (1,442 ) Deferred tax assets after valuation allowance 795 930 Deferred tax liabilities: Depreciation 128 128 ESOP 12 9 Unrealized gain on available-for-sale securities 26 — Total deferred tax liabilities 166 137 Net deferred tax assets $ 629 $ 793 Management evaluates deferred tax assets annually. The provision for income taxes is comprised of the following: March 31, March 31, (Dollars in thousands) (unaudited) (unaudited) Tax expense (benefit): Current federal and state $ (3 ) $ (1 ) Deferred tax 131 20 Total $ 128 $ 19 During 2008, 2009, and 2010, the Bank sold mutual fund investments that resulted in cumulative capital losses of $799,000. Since management determined that it was unlikely that the Bank would be able to fully utilize the corresponding deferred tax asset of $315,000 before expiration of the carryforward period, a valuation allowance was established for 100% of the corresponding deferred tax asset. During the year ended December 31, 2013, capital loss carryforwards of $692,000 and the related deferred tax asset and valuation allowance of $273,000 expired. During the year ended December 31, 2014, capital loss carryforwards of $101,000 and the related deferred tax asset and valuation allowance of $40,000 expired. The remaining capital loss carryforwards of $5,000 expired in 2015, as did the respective related deferred tax assets of approximately $2,000. The amount of loss carryforwards available for any one year may be limited if the Bank is subject to the alternative minimum tax. At March 31, 2016, the Bank had approximately $3,700,000 in federal and state net operating loss carryforwards. These net operating loss carryforwards begin to expire in 2032. Realization depends on generating sufficient taxable income before the expiration of the loss carryforward period. The amount of the loss carryforward available for any one year may be limited if the Bank is subject to the alternative minimum tax. Valuation allowance for deferred taxes for the three months ended March 31, 2016 (unaudited) and the year ended December 31, 2015 is as follows: (Dollars in thousands) Valuation Balance of January 1, 2015 $ (843 ) Expiration of capital loss carryforwards 2 Increase in valuation allowance (601 ) Balance of December 31, 2015 $ (1,442 ) Increase in valuation allowance (89 ) Balance of March 31, 2016 $ (1,531 ) As of December 31, 2015 and March 31, 2016, the Bank had remained in a cumulative loss position for three consecutive years and consequently management reevaluated the need for a valuation allowance of the deferred tax asset balance. Management’s evaluation included: management’s ability to fully implement our strategic plan, which included the ability to raise capital through the proposed public stock offering; additional expenses expected to be incurred as the result of becoming a public company; and the ability to generate sufficient taxable income to fully realize the Bank’s net operating loss carryforwards. Management concluded that it is more likely than not the Bank will be unable to generate sufficient taxable income in the foreseeable future to fully utilize the cumulative net operating loss carryforward and, therefore, established a valuation allowance to offset the net operating loss carryforward related deferred tax asset. Management considered the following positive and negative evidence in its evaluation of the need for a valuation allowance of the remaining deferred tax assets and liabilities relating to the timing difference in the aggregate of $629,000: the Bank reported taxable income in 2011, 2010 and 2009; the Bank was able to carry back all of the federal and substantially all of the net operating loss realized in 2012. The Bank had no history of net operating losses expiring unused. In addition, the local economy of the markets in which the Bank conducts business have been showing signs of continued improvement over the past two years and was a significant factor when considering the need for a valuation allowance. During 2015 and 2016, the trends continued to be positive; however, if these trends flatten or reverse, there is a potential that such negative evidence could outweigh the prevailing positive factors. Based on the considerations discussed above, the preponderance of positive factors and the mitigation of negative factors, the Bank concluded that at December 31, 2015 and March 31, 2016; it was more likely than not that the Bank would be able to realize in the future the net deferred tax assets related to timing differences.

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	3 Months Ended
	Mar. 31, 2016
Regulatory Capital Requirements [Abstract]
REGULATORY CAPITAL REQUIREMENTS	8. REGULATORY CAPITAL REQUIREMENTS 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 sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain amounts and ratios (set forth in the table below) of Total and Common Equity and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average assets. Management believes as of March 31, 2016 and December 31, 2015 that the Bank met all capital adequacy requirements to which it is subject. As of December 31, 2015, the most recent notification from the OCC 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 total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table. There are no conditions or events that management believes will adversely affect the Bank’s ability to remain in the well-capitalized category. The following table presents the Bank’s capital position based on the March 31, 2016 (unaudited) and December 31, 2015 financial statements and the current capital requirements: Actual Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio As of March 31, 2016: Total risk-based capital (to risk-weighted assets) $ 25,947 36.79 % $ 6,083 ≥8.625 % Tier I capital (to risk-weighted assets) 25,061 35.53 4,672 ≥6.625 Tier I capital (to adjusted total assets) 25,061 18.28 6,341 ≥4.625 Common equity tier 1 capital (to risk weighted assets) 25,061 35.53 3,615 ≥5.125 As of December 31, 2015: Total risk-based capital (to risk-weighted assets) $ 25,897 36.11 % $ 5,737 ≥8.0 % Tier I capital (to risk-weighted assets) 24,993 34.85 4,303 ≥6.0 Tier I capital (to adjusted total assets) 24,993 17.94 5,573 ≥4.0 Common equity tier 1 capital (to risk weighted assets) 24,993 34.85 3,227 ≥4.5 The following table presents a reconciliation of the Bank’s GAAP capital to each major category of regulatory capital for the dates indicated. March 31, December 31, (Dollars in thousands) (unaudited) Total Company equity capital $ 34,968 $ 34,881 LESS: Parent Only Equity 9,865 9,899 LESS: Net unrealized (losses) gains on available-for-sale securities 42 (11 ) Tier 1 Capital $ 25,061 $ 24,993 Tier 1 Capital $ 25,061 $ 24,993 Allowance for loan and lease losses includible in Tier 2 capital 886 904 Total risk-based capital $ 25,947 $ 25,897

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
OTHER COMPREHENSIVE INCOME	9. OTHER COMPREHENSIVE INCOME The following table presents the components of other comprehensive gains and losses for the three months ended March 31, 2016 and 2015 (unaudited). (Dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2016 (unaudited) Net unrealized gain on securities available-for-sale $ 87 $ (34 ) $ 53 Other Comprehensive Gain $ 87 $ (34 ) $ 53 Three Months Ended March 31, 2015 (unaudited) Net unrealized loss on securities available-for-sale $ — $ — $ — Other Comprehensive Loss $ — $ — $ — The following table presents the changes in each components of accumulated other comprehensive income, net of tax, for the three months ended March 31, 2016 and 2015 (unaudited). (Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2016 (unaudited) Balance at Beginning of Year $ (11 ) $ (11 ) Other comprehensive gain 53 53 Balance at End of Period $ 42 $ 42 (Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2015 (unaudited) Balance at Beginning of Year $ 15 $ 15 Other comprehensive gain — — Balance at End of Period $ 15 $ 15 The following table presents the amount reclassified out of accumulated other comprehensive income: Details about Accumulated Other Comprehensive Income Amount Reclassified Affected Line Item in the Statement March 31, March 31, (Dollars in thousands) (unaudited) Redemption of Investment Securities Available-for-Sale $ (25 ) $ — Realized gain on redemption of investment securities 9 — Provision for Income Tax $ (16 ) $ — Net of Tax Total Reclassifications for the Period $ (16 ) $ — Net of Tax

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	10. EARNINGS PER SHARE Basic per share amounts are based on the weighted average shares of common stock outstanding. Unearned ESOP shares are not included in outstanding shares. Diluted earnings per share assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. The basic and diluted weighted average shares outstanding for the three months ended March 31, 2016 and 2015 are as follows: Three Months Ended March 31, 2016 (unaudited) (Dollars in thousands, except per share Income (Loss) Shares Per Share Basic EPS Net income available to shareholders $ 1 1,959,885 $ 0.00 Diluted EPS Effect of dilutive shares — — — Net income available to shareholders $ 1 1,959,885 $ 0.00 Three Months Ended March 31, 2015 (unaudited) (Dollars in thousands, except per Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (204 ) 1,948,600 $ (0.10 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (204 ) 1,948,600 $ (0.10 ) There were no anti-dilutive shares excluded from the March 31, 2016 and 2015 diluted earnings per share calculation.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	11. FAIR VALUE MEASUREMENTS Effective January 1, 2009, the Bank adopted the Guidance in ASC Topic 820, “ Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Bank utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available-for-sale is recorded at fair value on a recurring basis. Additionally, from time to time, the Bank may be required to record at fair value all other assets on a nonrecurring basis, such as loans held for sale, loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. ASC Topic 820 establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. The fair value hierarchy is as follows: Level 1 Inputs Level 2 Inputs Level 3 Inputs The following is a description of valuation methodologies used for assets and liabilities recorded at fair value: Investment Securities Available-for-Sale. Loans. Contingencies Assets measured at fair value on a recurring basis are included in the table below: Fair Value Measurements at March 31, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FFCB AFS $ 2,023 $ — $ 2,023 $ — $ — $ — Mortgage-backed securities: FHLMC AFS 693 — 693 — — — FNMA AFS 114 — 114 — — — GNMA AFS 713 — 713 — — — Total assets measured at fair value on a recurring basis $ 3,543 $ — $ 3,543 $ — $ — $ — Fair Value Measurements at December 31, 2015 Using: Description (Dollars in thousands) Fair Value 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FHLMC AFS $ 1,964 $ — $ 1,964 $ — $ — $ — FFCB AFS 4,980 — 4,980 — — — Mortgage-backed securities: FHLMC AFS 703 — 703 — — — FNMA AFS 123 — 123 — — — GNMA AFS 710 — 710 — — — Total assets measured at fair value on a recurring basis $ 8,480 $ — $ 8,480 $ — $ — $ — The Bank may be required from time to time, to measure certain assets at fair value on a non-recurring basis in accordance with GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below: Fair Value Measurements at March 31, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 2,995 $ — $ 2,219 $ 776 $ — $ — Commercial 1,275 — 1,275 — — — Land 1,953 — 1,953 — — — Construction — — — — — — Other real estate owned — — — — — — Total assets measured at fair value on a non-recurring basis $ 6,223 $ — $ 5,447 $ 776 $ — $ — The significant unobservable inputs (Level 3) are determined by using the net present value of the expected discounted future cash flows methodology. Loans were modified based on the expected cash flows with modified terms and rates ranging from 3.00% to 4.00% discounted at contractual rates ranging from 5.25% to 7.375%. Fair Value Measurements at December 31, 2015 Using: Description (Dollars in thousands) Fair Value December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,143 $ — $ 2,199 $ 944 $ — $ — Commercial 1,299 — 1,299 — — — Land 1,971 — 1,971 — — — Construction — — — — — — Other real estate owned — — — — — (158 ) Total assets measured at fair value on a non-recurring basis $ 6,413 $ — $ 5,469 $ 944 $ — $ (158 ) The significant unobservable inputs (Level 3) are determined by using the net present value of the expected discounted future cash flows methodology. Loans were modified based on the expected cash flows with modified terms and rates ranging from 3.00% to 4.00% discounted at contractual rates ranging from 5.25% to 7.375%. In accordance with the disclosure requirements of ASC Topic 825, the estimated fair values of financial instruments at March 31, 2016 (unaudited) and December 31, 2015 are as follows: Carrying Value Fair Value Quoted Prices Other Significant (Dollars in thousands) (unaudited) (unaudited) ASSETS Cash, interest bearing deposits and federal funds sold $ 2,508 $ 2,508 $ — $ 2,508 $ — Other interest bearing deposits in other banks 16,913 16,913 — 16913 — Investment securities 24,832 22,017 — 22,017 — Federal Home Loan Bank stock 673 673 — 673 — Loans, net 92,702 91,555 — 5,447 86,108 Bank owned life insurance 908 908 — 908 — Accrued interest receivable 398 398 — 398 — LIABILITIES Deposits $ 95,502 $ 93,095 $ — $ — $ 93,095 FHLB advances 12,000 11,731 — — 11,731 (Dollars in thousands) Carrying Value December 31, 2015 Fair Value December 31, 2015 Quoted Prices Other Significant Observable Inputs (Level 3) ASSETS Cash, interest bearing deposits and federal funds sold $ 2,924 $ 2,924 $ — $ 2,924 $ — Other interest bearing deposits in other banks 19,107 19,128 — 19,128 — Investment securities 17,625 17,775 — 17,775 — Federal Home Loan Bank stock 688 688 — 688 — Loans, net 93,125 90,004 — 5,469 84,535 Bank owned life insurance 896 896 — 896 — Accrued interest receivable 324 324 — 324 — LIABILITIES Deposits $ 92,692 $ 89,354 $ — $ — $ 89,354 FHLB advances 12,000 12,400 — — 12,400 The following methods and assumptions were used to estimate the fair value disclosures for financial instruments as of March 31, 2016 (unaudited) and December 31, 2015: Cash, Interest-Bearing Deposits and Federal Funds Sold and Other Interest-Bearing Deposits in Other Banks The amounts reported in the balance sheet approximate the fair value of these assets. Investment Securities The fair values are based on the quoted market prices, if available. If quoted prices are not available, fair value is measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Federal Home Loan Bank Stock The par value of Federal Home Loan Bank stock report on the balance sheet is a reasonable estimate of fair value. Accrued Interest Receivable The amounts reported in the balance sheet approximate the fair value of these assets. Loans, Deposits and Federal Home Loan Bank Advances Loans receivable were discounted using a single discount rate, comparing the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered on deposits of similar remaining maturities. The fair value of Federal Home Loan Bank advances is estimated using rates currently offered on advances of similar remaining maturities. Bank-Owned Life Insurance The amounts reported in the balance sheet approximate the fair value of these assets.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS On March 30, 2016, MB Bancorp, Inc. (the “Company”), the holding company for Madison Bank of Maryland, issued a press release announcing that the Board of Directors had approved a stock repurchase program authorizing the Company to repurchase shares of common stock equaling up to 10% of the Company’s outstanding shares. As of May 13, 2016, MB Bancorp, Inc. has repurchased approximately 189,200 shares.

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, the accompanying consolidated financial statements as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 contains all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at March 31, 2016. Certain prior period information has been reclassified to conform to the current period presentation. These statements should be read in conjunction with the audited consolidation financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations and cash flows for the three months ended March 31, 2016 and 2015 are not necessarily indicative of the results to be expected for the year ended December 31, 2016.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of MB Bancorp, Inc. (“The Company”) and it’s wholly owned subsidiaries, Madison Bank of Maryland (“The Bank”), 1920 Rock Spring Road, LLC formed in 1998 to own and hold real estate and Mutual, LLC formed in 2011 to hold other real estate owned. All significant intercompany accounts and transactions have been eliminated. The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles and to general practices in the banking industry.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Loans	Loans Loans are stated at the principal amount outstanding net of any deferred fees and costs. Interest income on loans is accrued at the contractual rate on the principal amount outstanding. It is the Company’s policy to discontinue the accrual of interest when circumstances indicate that collection is doubtful. Direct loan origination fees, net of direct loan origination costs, are amortized or accreted over the contractual life of the loan using the interest method. Loans are considered impaired when, based on current information; it is probable that the Company will not collect all principal and interest payments according to contractual terms. Generally, loans are considered impaired once principal and interest payments are past due and they are placed on non-accrual. Management also considers the financial condition of the borrower, cash flows of the loan and the value of the related collateral. Impaired loans do not include large groups of smaller balance homogeneous credits such as residential real estate and consumer installment loans, which are evaluated collectively for impairment. Loans specifically reviewed for impairment are not considered impaired during periods of “minimal delay” in payment (usually ninety days or less) provided eventual collection of all amounts due is expected. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, the Company may measure impairment based on a loan’s observable market price or the fair value of the collateral, if the loan is collateral dependent. The Company recognizes interest income on impaired loans on a cash basis if the borrower demonstrates the ability to meet the contractual obligation and collateral is sufficient. If there is doubt regarding the borrower’s ability to make payments or the collateral is not sufficient, payments received are accounted for as a reduction in principal. A loan is considered to be a troubled debt restructured loan (“TDR”) when the Company grants a concession to the borrower that the Company would not otherwise consider to a borrower of comparable risk and placed on non-accrual status. Such concessions include the reduction of interest rates, forgiveness of all or a portion of principal or interest, extension of loan term or other modifications at interest rates that are less than the current market rate for new obligations with similar risk. If a loan is in nonaccrual status at the time we restructure it and classify the restructure as a troubled debt restructuring, it is our policy to maintain the loan as nonaccrual until we receive six consecutive monthly payments under the restructured terms. TDR loans that are in compliance with their modified terms and that yield a market rate may be removed from the TDR status after a period of one year.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Company maintains an allowance for loan losses at an amount estimated to equal all loan losses incurred in our loan portfolio that are both probable and reasonable to estimate at a balance sheet date. The evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, and current economic conditions and trends that may affect the borrowers’ ability to pay. The allowance for loan losses represents an estimation done pursuant to either Accounting Standards Codification (“ASC”) Topic 450 “ Contingencies Receivables While management believes it has established the allowance for loan losses in accordance with generally accepted accounting principles and has taken into account the views of its regulators and the current economic environment, there can be no assurance that in the future the Bank’s regulators or the economic environment will not require further increases in the allowance.
Other Real Estate Owned	Other Real Estate Owned Real estate acquired in satisfaction of a debt is carried at fair value net of estimated selling costs. Costs incurred in maintaining foreclosed real estate and write-downs to reflect declines in the fair value of the properties after acquisition are included in noninterest expenses.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Bank, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Income Taxes	Income Taxes The Bank uses the liability method of accounting for income taxes. Under the liability method, deferred-tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities ( i.e., ASC Topic 740, “ Income Taxes,
Recognition of Deferred Tax Valuation Allowance	Recognition of Deferred Tax Valuation Allowance As of December 31, 2015, the Bank had remained in a cumulative loss position for three consecutive years and consequently management reevaluated the need for a valuation allowance of the deferred tax asset balance. Management’s evaluation included: management’s ability to fully implement our strategic plan, which included the ability to raise capital through the proposed public stock offering; additional expenses expected to be incurred as the result of becoming a public company; and the ability to generate sufficient taxable income to fully realize the Bank’s net operating loss carryforwards. Management concluded that it is more likely than not the Bank will be unable to generate sufficient taxable income in the foreseeable future to fully utilize the cumulative net operating loss carryforward and, therefore, established a valuation allowance to offset the net operating loss carryforward related deferred tax asset.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of carrying amount and estimated fair market value of investment securities classified as available-for-sale	March 31, 2016 (unaudited) (Dollars in thousands) Amortized Gross Gross Estimated Investments available-for-sale: U.S. Government securities: FFCB bonds. $ 1,998 $ 25 $ — $ 2,023 Total U.S. Government securities. . 1,998 25 — 2,023 Mortgage-backed securities: FHLMC certificates 675 18 — 693 FNMA certificates 108 6 — 114 GNMA certificates 694 19 — 713 Total mortgage-backed securities 1,477 43 — 1,520 Total investments available-for-sale $ 3,475 $ 68 $ — $ 3,543 December 31, 2015 (Dollars in thousands) Amortized Gross Gross Estimated Investments available-for-sale: U.S. Government securities: FHLMC bonds $ 1,983 $ — $ (19 ) $ 1,964 FFCB bonds 4,991 3 (14 ) 4,980 Total U.S. Government securities 6,974 3 (33 ) 6,944 Mortgage-backed securities: FHLMC certificates 700 7 (4 ) 703 FNMA certificates 117 6 — 123 GNMA certificates 708 2 — 710 Total mortgage-backed securities 1,525 15 (4 ) 1,536 Total investments available-for-sale $ 8,499 $ 18 $ (37 ) $ 8,480
Schedule of carrying amount and estimated fair market value of investment securities classified as held-to-maturity	March 31, 2016 (unaudited) (Dollars in thousands) Amortized Gross Gross Estimated Investments held-to-maturity: U.S. Government securities: FHLB bonds $ 2,500 $ 1 $ (1 ) $ 2,500 FNMA bonds 1,000 18 — 1,018 FFCB bonds 13,847 13 — 13,860 Total U.S. Government securities 17,347 32 (1 ) 17,378 Mortgage-backed securities: FHLMC certificates 1,068 76 — 1,144 FNMA certificates 2,498 160 — 2,658 GNMA certificates 376 35 — 411 Total mortgage backed securities 3,942 271 — 4,213 Total investments held-to-maturity $ 21,289 $ 303 $ (1 ) $ 21,591 December 31, 2015 (Dollars in thousands) Amortized Gross Gross Estimated Investments held-to-maturity: U.S. Government securities: FHLMC bonds $ 998 $ — $ (21 ) $ 977 FNMA bonds 1,000 — (10 ) 990 FFCB bonds 3,000 — (57 ) 2,943 Total U.S. Government securities 4,998 — (88 ) 4,910 Mortgage-backed securities: FHLMC certificates 1,156 78 — 1,234 FNMA certificates 2,591 125 — 2,716 GNMA certificates 400 35 — 435 Total mortgage backed securities 4,147 238 — 4,385 Total investments held-to-maturity $ 9,145 $ 238 $ (88 ) $ 9,295
Schedule of unrealized losses are considered temporary	March 31, 2016 (unaudited) Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ — $ — $ — $ — $ — $ — U.S. Government securities — — 1,500 (1 ) 1,500 (1 ) Total temporarily impaired securities $ — $ — $ 1,500 $ (1 ) $ 1,500 $ (1 ) December 31, 2015 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ — $ — $ 1,117 $ (4 ) $ 1,117 $ (4 ) U.S. Government securities — — 10,852 (121 ) 10,852 (121 ) Total temporarily impaired securities $ — $ — $ 11,969 $ (125 ) $ 11,969 $ (125 )
Schedule of maturities of debt securities	Amortized (in thousands) Fair (in thousands) Due over one year through five years $ — $ — Due over five years through ten years 10,148 10,194 Due after ten years 9,197 9,207 Mortgage-backed securities 5,419 5,733 Total $ 24,764 $ 25,134

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of Loans receivable	March 31, December 31, (Dollars in thousands) (unaudited) Secured by real estate: Residential: One-to four-family $ 76,060 $ 76,632 Multi-family 2,085 2,100 Total 78,145 78,732 Non-residential 7,930 8,290 Construction and land loans 5,138 4,835 Home equity line of credit (“HELOC”) 3,700 3,695 Consumer and other loans: Loans to depositors, secured by savings 25 27 94,938 95,579 Add: Net (discount) premium on purchased loans (9 ) (9 ) Unamortized net deferred costs 22 26 Less: Undisbursed portion of construction loans (895 ) (871 ) Unearned net loan origination fees (48 ) (39 ) Less allowance for loan losses (1,306 ) (1,561 ) Loans receivable, net $ 92,702 $ 93,125
Schedule of allowance for loan losses and recorded investment	Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Unallocated Total Allowance for loan losses: Beginning balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs — — — — — Recoveries — — — — — Provisions 4 2 (11 ) (250 ) (255 ) Ending balance $ 964 $ 196 $ 146 $ — $ 1,306 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 41 $ — $ — — $ 41 Ending balance: collectively evaluated for impairment $ 923 $ 196 $ 146 $ — $ 1,265 Loans: Ending balance: individually evaluated for impairment $ 3,036 $ 1,275 $ 1,953 $ — $ 6,264 Ending balance: collectively evaluated for impairment $ 78,834 $ 6,655 $ 3,185 $ — $ 88,674 Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2015 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Unallocated Total Allowance for loan losses: Beginning balance $ 1,228 $ 79 $ 174 $ 250 $ 1,731 Charge-offs (16 ) — — — (16 ) Recoveries 2 — — — 2 Provisions 6 — — — 6 Ending balance $ 1,220 $ 79 $ 174 $ 250 $ 1,723 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 51 $ — $ — — $ 51 Ending balance: collectively evaluated for impairment $ 1,169 $ 79 $ 174 $ 250 $ 1,672 Loans: Ending balance: individually evaluated for impairment $ 5,387 $ 1,963 $ 2,221 — $ 9,571 Ending balance: collectively evaluated for impairment $ 82,801 $ 7,398 $ 2,683 — $ 92,882 Allowance for loan losses and recorded investment in loans for the year ended December 31, 2015 is as follows: (Dollars in thousands) Residential Non- Construction Unallocated Total Allowance for loan losses: Beginning balance $ 1,228 $ 79 $ 174 $ 250 $ 1,731 Charge-offs (22 ) (247 ) (106 ) — (375 ) Recoveries 29 5 170 — 204 Provisions (275 ) 357 (81 ) — 1 Ending balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 46 $ — $ — — $ 46 Ending balance: collectively evaluated for impairment $ 914 $ 194 $ 157 $ 250 $ 1,561 Loans: Ending balance: individually evaluated for impairment $ 3,189 $ 1,299 $ 1,971 — $ 6,459 Ending balance: collectively evaluated for impairment $ 79,265 $ 6,991 $ 2,864 — $ 89,120
Schedule of Credit risk classification	Credit risk profile by internally assigned classification as of March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Total Non-classified $ 78,916 $ 6,655 $ 3,185 $ 88,756 Special mention 1,635 165 92 1,892 Substandard 1,319 1,110 1,861 4,290 Doubtful — — — — Loss — — — — Total $ 81,870 $ 7,930 $ 5,138 $ 94,938 Credit risk profile by internally assigned classification as of December 31, 2015 is as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-classified $ 79,697 $ 7,156 $ 2,863 $ 89,716 Special mention 1,481 — 94 1,575 Substandard 1,276 1,134 1,878 4,288 Doubtful — — — — Loss — — — — Total $ 82,454 $ 8,290 $ 4,835 $ 95,579
Schedule of impaired loans	Impaired loans as of and for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,219 $ 1,275 $ 1,953 $ 5,447 Unpaid principal balance 2,548 1,552 3,031 7,131 Average recorded investment, for the three months ended March 31, 2016 2,320 1,382 2,006 5,708 Interest income recognized 32 9 25 66 Interest income foregone 7 3 2 12 With an allowance recorded: Recorded investment 817 — — 817 Unpaid principal balance 817 — — 817 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 696 — — 696 Interest income recognized 6 — — 6 Interest income foregone — — — — Total Recorded investment 3,036 1,275 1,953 6,264 Unpaid principal balance 3,365 1,552 3,031 7,948 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 3,016 1,382 2,006 6,404 Interest income recognized 38 9 25 72 Interest income foregone 7 3 2 12 Impaired loans as of and for the three months ended March 31, 2015 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- residential Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 4,322 $ 1,963 $ 2,221 $ 8,506 Unpaid principal balance 5,127 2,007 3,241 10,375 Average recorded investment, for the three months ended March 31, 2015 4,357 1,966 2,227 8,550 Interest income recognized 57 11 28 96 Interest income foregone 20 13 3 36 With an allowance recorded: Recorded investment 1,065 — — 1,065 Unpaid principal balance 1,065 — — 1,065 Related allowance 51 — — 51 Average recorded investment, for the three months ended March 31, 2015 1,067 — — 1,067 Interest income recognized 8 — — 8 Interest income foregone — — — — Total Recorded investment 5,387 1,963 2,221 9,571 Unpaid principal balance 6,192 2,007 3,241 11,440 Related allowance 51 — — 51 Average recorded investment, for the three months ended March 31, 2015 5,424 1,966 2,227 9,617 Interest income recognized 65 11 28 104 Interest income foregone 20 13 3 36 Impaired loans as of and for the year ended December 31, 2015 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,199 $ 1,299 $ 1,971 $ 5,469 Unpaid principal balance 2,528 1,570 3,048 7,146 Average recorded investment, for the twelve months ended December 31, 2015 3,321 1,766 2,176 7,263 Interest income recognized 270 44 104 418 Interest income foregone 39 28 7 74 With an allowance recorded: Recorded investment 990 — — 990 Unpaid principal balance 990 — — 990 Related allowance 46 — — 46 Average recorded investment, for the twelve months ended December 31, 2015 880 — — 880 Interest income recognized 33 — — 33 Interest income foregone — — — — Total Recorded investment 3,189 1,299 1,971 6,459 Unpaid principal balance 3,518 1,570 3,048 8,136 Related allowance 46 — — 46 Average recorded investment, for the twelve months ended December 31, 2015 4,201 1,766 2,176 8,143 Interest income recognized 303 44 104 451 Interest income foregone 39 28 7 74
Schedule of aged analysis of past due loans	An aged analysis of past due loans as of March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Total Current $ 80,260 $ 7,825 $ 5,100 $ 93,185 30 – 59 days past due 1,044 — — 1,044 60 – 89 days past due 229 — 38 267 Greater than 90 day past due and still accruing 56 — — 56 Greater than 90 days past due 281 105 — 386 Total past due 1,610 105 38 1,753 Total $ 81,870 $ 7,930 $ 5,138 $ 94,938 An aged analysis of past due loans as of December 31, 2015 are as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total Current $ 81,278 $ 8,187 $ 4,796 $ 94,261 30 – 59 days past due 910 — 39 949 60 – 89 days past due 6 — — 6 Greater than 90 day past due and still accruing — — — — Greater than 90 days past due 260 103 — 363 Total past due 1,176 103 39 1,318 Total $ 82,454 $ 8,290 $ 4,835 $ 95,579
Schedule of non-performing loans	Non-performing loans as of March 31, 2016 (unaudited) are as follows: (Dollars in thousands) Residential Non- Construction Total Non-accruing troubled debt restructured loans $ 425 $ 1,078 $ 38 $ 1,541 Other non-accrual loans 292 — — 292 Total non-accrual loans 717 1,078 38 1,833 Accruing troubled debt restructured loans 1,518 197 1,823 3,538 Total $ 2,235 $ 1,275 $ 1,861 $ 5,371 Non-performing loans as of December 31, 2015 are as follows: (Dollars in thousands) Residential Non- Construction Total Non-accruing troubled debt restructured loans $ 430 $ 1,097 $ 39 $ 1,566 Other non-accrual loans 294 — — 294 Total non-accrual loans 724 1,097 39 1,860 Accruing troubled debt restructured loans 1,657 202 1,838 3,697 Total $ 2,381 $ 1,299 $ 1,877 $ 5,557
Schedule of loans classified as troubled debt restructurings	The following includes loans classified as troubled debt restructurings during the three months ended March 31, 2015 (unaudited). (Dollars in thousands) Number of Contracts Pre- Outstanding Recorded Investment Post- Outstanding Recorded Investment Residential real estate and consumer 7 $ 844 $ 844 Non-residential real estate — — — Construction and land — — — Total 7 $ 844 $ 844

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	3 Months Ended
	Mar. 31, 2016
Other Real Estate [Abstract]
Schedule of activity in residential other real estate owned	March 31, December 31, (Dollars in thousands) (unaudited) Beginning balance $ — $ 379 Additions — — Transfers from Loans — — Transfers to Loans — (41 ) Sales — (180 ) Provisions — (158 ) Ending balance $ — $ —

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
	Mar. 31, 2016
Deposit Assets Disclosure [Abstract]
Schedule of deposit liabilities	March 31, 2016 December 31, (Dollars in thousands) (unaudited) Non-interest-bearing deposits $ 1,260 $ 1,758 NOW and Money market 20,418 20,591 Savings 14,570 14,721 Certificates of deposit 60,510 55,622 Total deposits $ 96,758 $ 92,692
Schedule maturities of certificates of deposit	(Dollars in thousands) 2016 $ 22,883 2017 13,620 2018 7,621 2019 5,913 2020 6,126 2021 4,347 Total $ 60,510

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	The sources of deferred tax assets and liabilities and the tax effect of each are as follows: March 31, December 31, (Dollars in thousands) (unaudited) Deferred tax assets: Deferred loan fees and costs, net $ 10 $ 5 Allowance for credit losses 515 616 Deferred compensation 63 97 Allowance for ground rents 55 54 Allowance for delinquent mortgage interest 150 149 Contribution carryforward 2 2 Net operating loss carryforward 1,531 1,442 Unrealized loss on available-for-sale securities — 7 Total deferred tax assets 2,326 2,372 Valuation allowance (1,531 ) (1,442 ) Deferred tax assets after valuation allowance 795 930 Deferred tax liabilities: Depreciation 128 128 ESOP 12 9 Unrealized gain on available-for-sale securities 26 — Total deferred tax liabilities 166 137 Net deferred tax assets $ 629 $ 793
Schedule of provision for income taxes	March 31, March 31, (Dollars in thousands) (unaudited) (unaudited) Tax expense (benefit): Current federal and state $ (3 ) $ (1 ) Deferred tax 131 20 Total $ 128 $ 19
Schedule of valuation allowance for deferred taxes	(Dollars in thousands) Valuation Balance of January 1, 2015 $ (843 ) Expiration of capital loss carryforwards 2 Increase in valuation allowance (601 ) Balance of December 31, 2015 $ (1,442 ) Increase in valuation allowance (89 ) Balance of March 31, 2016 $ (1,531 )

REGULATORY CAPITAL REQUIREMEN27

REGULATORY CAPITAL REQUIREMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Regulatory Capital Requirements [Abstract]
Schedule of Bank's capital position based	Actual Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio As of March 31, 2016: Total risk-based capital (to risk-weighted assets) $ 25,947 36.79 % $ 6,083 ≥8.625 % Tier I capital (to risk-weighted assets) 25,061 35.53 4,672 ≥6.625 Tier I capital (to adjusted total assets) 25,061 18.28 6,341 ≥4.625 Common equity tier 1 capital (to risk weighted assets) 25,061 35.53 3,615 ≥5.125 As of December 31, 2015: Total risk-based capital (to risk-weighted assets) $ 25,897 36.11 % $ 5,737 ≥8.0 % Tier I capital (to risk-weighted assets) 24,993 34.85 4,303 ≥6.0 Tier I capital (to adjusted total assets) 24,993 17.94 5,573 ≥4.0 Common equity tier 1 capital (to risk weighted assets) 24,993 34.85 3,227 ≥4.5
Schedule of reconciliation of Bank's GAAP capital	March 31, December 31, (Dollars in thousands) (unaudited) Total Company equity capital $ 34,968 $ 34,881 LESS: Parent Only Equity 9,865 9,899 LESS: Net unrealized (losses) gains on available-for-sale securities 42 (11 ) Tier 1 Capital $ 25,061 $ 24,993 Tier 1 Capital $ 25,061 $ 24,993 Allowance for loan and lease losses includible in Tier 2 capital 886 904 Total risk-based capital $ 25,947 $ 25,897

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of components of other comprehensive gains and losses	(Dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2016 (unaudited) Net unrealized gain on securities available-for-sale $ 87 $ (34 ) $ 53 Other Comprehensive Gain $ 87 $ (34 ) $ 53 Three Months Ended March 31, 2015 (unaudited) Net unrealized loss on securities available-for-sale $ — $ — $ — Other Comprehensive Loss $ — $ — $ —
Schedule of components of accumulated other comprehensive income, net of tax	(Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2016 (unaudited) Balance at Beginning of Year $ (11 ) $ (11 ) Other comprehensive gain 53 53 Balance at End of Period $ 42 $ 42 (Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2015 (unaudited) Balance at Beginning of Year $ 15 $ 15 Other comprehensive gain — — Balance at End of Period $ 15 $ 15
Schedule of reclassified out of accumulated other comprehensive income	Details about Accumulated Other Comprehensive Income Amount Reclassified Affected Line Item in the Statement March 31, March 31, (Dollars in thousands) (unaudited) Redemption of Investment Securities Available-for-Sale $ (25 ) $ — Realized gain on redemption of investment securities 9 — Provision for Income Tax $ (16 ) $ — Net of Tax Total Reclassifications for the Period $ (16 ) $ — Net of Tax

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of basic and diluted weighted average shares outstanding	Three Months Ended March 31, 2016 (unaudited) (Dollars in thousands, except per share Income (Loss) Shares Per Share Basic EPS Net income available to shareholders $ 1 1,959,885 $ 0.00 Diluted EPS Effect of dilutive shares — — — Net income available to shareholders $ 1 1,959,885 $ 0.00 Three Months Ended March 31, 2015 (unaudited) (Dollars in thousands, except per Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (204 ) 1,948,600 $ (0.10 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (204 ) 1,948,600 $ (0.10 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis	Fair Value Measurements at March 31, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FFCB AFS $ 2,023 $ — $ 2,023 $ — $ — $ — Mortgage-backed securities: FHLMC AFS 693 — 693 — — — FNMA AFS 114 — 114 — — — GNMA AFS 713 — 713 — — — Total assets measured at fair value on a recurring basis $ 3,543 $ — $ 3,543 $ — $ — $ — Fair Value Measurements at December 31, 2015 Using: Description (Dollars in thousands) Fair Value 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FHLMC AFS $ 1,964 $ — $ 1,964 $ — $ — $ — FFCB AFS 4,980 — 4,980 — — — Mortgage-backed securities: FHLMC AFS 703 — 703 — — — FNMA AFS 123 — 123 — — — GNMA AFS 710 — 710 — — — Total assets measured at fair value on a recurring basis $ 8,480 $ — $ 8,480 $ — $ — $ —
Schedule of fair value on a nonrecurring basis	Fair Value Measurements at March 31, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 2,995 $ — $ 2,219 $ 776 $ — $ — Commercial 1,275 — 1,275 — — — Land 1,953 — 1,953 — — — Construction — — — — — — Other real estate owned — — — — — — Total assets measured at fair value on a non-recurring basis $ 6,223 $ — $ 5,447 $ 776 $ — $ — Fair Value Measurements at December 31, 2015 Using: Description (Dollars in thousands) Fair Value December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,143 $ — $ 2,199 $ 944 $ — $ — Commercial 1,299 — 1,299 — — — Land 1,971 — 1,971 — — — Construction — — — — — — Other real estate owned — — — — — (158 ) Total assets measured at fair value on a non-recurring basis $ 6,413 $ — $ 5,469 $ 944 $ — $ (158 )
Schedule of estimated fair values of financial instruments	Carrying Value Fair Value Quoted Prices Other Significant (Dollars in thousands) (unaudited) (unaudited) ASSETS Cash, interest bearing deposits and federal funds sold $ 2,508 $ 2,508 $ — $ 2,508 $ — Other interest bearing deposits in other banks 16,913 16,913 — 16913 — Investment securities 24,832 22,017 — 22,017 — Federal Home Loan Bank stock 673 673 — 673 — Loans, net 92,702 91,555 — 5,447 86,108 Bank owned life insurance 908 908 — 908 — Accrued interest receivable 398 398 — 398 — LIABILITIES Deposits $ 95,502 $ 93,095 $ — $ — $ 93,095 FHLB advances 12,000 11,731 — — 11,731 (Dollars in thousands) Carrying Value December 31, 2015 Fair Value December 31, 2015 Quoted Prices Other Significant Observable Inputs (Level 3) ASSETS Cash, interest bearing deposits and federal funds sold $ 2,924 $ 2,924 $ — $ 2,924 $ — Other interest bearing deposits in other banks 19,107 19,128 — 19,128 — Investment securities 17,625 17,775 — 17,775 — Federal Home Loan Bank stock 688 688 — 688 — Loans, net 93,125 90,004 — 5,469 84,535 Bank owned life insurance 896 896 — 896 — Accrued interest receivable 324 324 — 324 — LIABILITIES Deposits $ 92,692 $ 89,354 $ — $ — $ 89,354 FHLB advances 12,000 12,400 — — 12,400

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	1 Months Ended	3 Months Ended
	Dec. 29, 2014	Mar. 31, 2016
Summary Of Significant Accounting Policies [Line Items]
Number of shares sold	2,116,000
Gross offering proceeds	$ 21,160,000
Conversion cost		$ 995,000

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 3,475	$ 8,499
Gross Unrealized Gains	$ 68	18
Gross Unrealized Losses		(37)
Estimated Fair Value	$ 3,543	8,480
U.S. Government securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,998	6,974
Gross Unrealized Gains	$ 25	3
Gross Unrealized Losses		(33)
Estimated Fair Value	$ 2,023	6,944
FHLMC bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		$ 1,983
Gross Unrealized Gains
Gross Unrealized Losses		$ (19)
Estimated Fair Value		1,964
FFCB bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,998	4,991
Gross Unrealized Gains	$ 25	3
Gross Unrealized Losses		(14)
Estimated Fair Value	$ 2,023	4,980
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,477	1,525
Gross Unrealized Gains	$ 43	15
Gross Unrealized Losses		(4)
Estimated Fair Value	$ 1,520	1,536
FHLMC certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	675	700
Gross Unrealized Gains	$ 18	7
Gross Unrealized Losses		(4)
Estimated Fair Value	$ 693	703
FNMA certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	108	117
Gross Unrealized Gains	$ 6	$ 6
Gross Unrealized Losses
Estimated Fair Value	$ 114	$ 123
GNMA certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	694	708
Gross Unrealized Gains	$ 19	$ 2
Gross Unrealized Losses
Estimated Fair Value	$ 713	$ 710

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 21,289	$ 9,145
Gross Unrealized Gains	303	238
Gross Unrealized Losses	(1)	(88)
EstimatedFair Value	21,591	9,295
U.S. Government securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	17,347	$ 4,998
Gross Unrealized Gains	32
Gross Unrealized Losses	(1)	$ (88)
EstimatedFair Value	17,378	4,910
FHLMC bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		$ 998
Gross Unrealized Gains
Gross Unrealized Losses		$ (21)
EstimatedFair Value		977
FNMA bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,000	$ 1,000
Gross Unrealized Gains	$ 18
Gross Unrealized Losses		$ (10)
EstimatedFair Value	$ 1,018	990
FFCB bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	13,847	$ 3,000
Gross Unrealized Gains	$ 13
Gross Unrealized Losses		$ (57)
EstimatedFair Value	$ 13,860	2,943
FHLB bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,500
Gross Unrealized Gains	1
Gross Unrealized Losses	(1)
EstimatedFair Value	2,500
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	3,942	4,147
Gross Unrealized Gains	$ 271	$ 238
Gross Unrealized Losses
EstimatedFair Value	$ 4,213	$ 4,385
FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,068	1,156
Gross Unrealized Gains	$ 76	$ 78
Gross Unrealized Losses
EstimatedFair Value	$ 1,144	$ 1,234
FNMA certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,498	2,591
Gross Unrealized Gains	$ 160	$ 125
Gross Unrealized Losses
EstimatedFair Value	$ 2,658	$ 2,716
GNMA certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	376	400
Gross Unrealized Gains	$ 35	$ 35
Gross Unrealized Losses
EstimatedFair Value	$ 411	$ 435

INVESTMENT SECURITIES (Detail34

INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value
Less than 12 Months : Unrealized Losses
12 Months or More : Fair Value	$ 1,500	$ 11,969
12 Months or More : Unrealized Losses	(1)	(125)
Total : Fair Value	1,500	11,969
Total : Unrealized Losses	$ (1)	$ (125)
Mortgage-backed securities
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value
Less than 12 Months : Unrealized Losses
12 Months or More : Fair Value		$ 1,117
12 Months or More : Unrealized Losses		(4)
Total : Fair Value		1,117
Total : Unrealized Losses		$ (4)
U.S. Government securities
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value
Less than 12 Months : Unrealized Losses
12 Months or More : Fair Value	$ 1,500	$ 10,852
12 Months or More : Unrealized Losses	(1)	(121)
Total : Fair Value	1,500	10,852
Total : Unrealized Losses	$ (1)	$ (121)

INVESTMENT SECURITIES (Detail35

INVESTMENT SECURITIES (Details 3) $ in Thousands	Mar. 31, 2016USD ($)
Amortized Cost
Due over one year through five years
Due over five years through ten years	$ 10,148
Due after ten years	9,197
Mortgage-backed securities	5,419
Total - Amortized Cost	$ 24,764
Fair Value
Due over one year through five years
Due over five years through ten years	$ 10,194
Due after ten years	9,207
Mortgage-backed securities	5,733
Total - Fair Value	$ 25,134

LOANS RECEIVABLE (Details)

LOANS RECEIVABLE (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for loan losses	$ (1,306)	$ (1,561)
Loans receivable, net	92,702	93,125
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	94,938	95,579
Net discount on purchased loans	(9)	(9)
Unamortized net deferred costs	22	26
Undisbursed portion of construction loans	(895)	(871)
Unearned net loan origination fees	(48)	(39)
Less allowance for loan losses	(1,306)	(1,561)	$ (1,723)	$ (1,731)
Loans receivable, net	92,702	93,125
Loans Receivable | One-to four-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	76,060	76,632
Loans Receivable | Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,085	2,100
Loans Receivable | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	78,145	78,732
Loans Receivable | Non-residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	7,930	8,290
Less allowance for loan losses	(196)	(194)	(79)	(79)
Loans Receivable | Construction and land loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,138	4,835
Less allowance for loan losses	(146)	(157)	$ (174)	$ (174)
Loans Receivable | Home equity line of credit ("HELOC")
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,700	3,695
Loans Receivable | Loans to depositors, secured by savings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 25	$ 27

LOANS RECEIVABLE (Details 1)

LOANS RECEIVABLE (Details 1) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 1,561
Provisions	(255)	$ 6
Ending balance	1,306		$ 1,561
Loans Receivable
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 1,561	1,731	1,731
Charge-offs		(16)	(375)
Recoveries		2	204
Provisions	$ (255)	6	1
Ending balance	1,306	1,723	1,561
Allowance for Loan Losses
Ending balance: individually evaluated for impairment	41	51	46
Ending balance: collectively evaluated for impairment	1,265	1,672	1,561
Loans:
Ending balance: individually evaluated for impairment	6,264	9,571	6,459
Ending balance: collectively evaluated for impairment	88,674	92,882	89,120
Loans Receivable | Residential Real Estate, HELOC, and Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 960	1,228	1,228
Charge-offs		(16)	(22)
Recoveries		2	29
Provisions	$ 4	6	(275)
Ending balance	964	1,220	960
Allowance for Loan Losses
Ending balance: individually evaluated for impairment	41	51	46
Ending balance: collectively evaluated for impairment	923	1,169	914
Loans:
Ending balance: individually evaluated for impairment	3,036	5,387	3,189
Ending balance: collectively evaluated for impairment	78,834	82,801	79,265
Loans Receivable | Non-residential Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 194	$ 79	79
Charge-offs			(247)
Recoveries			5
Provisions	$ 2		357
Ending balance	$ 196	$ 79	$ 194
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	$ 196	$ 79	$ 194
Loans:
Ending balance: individually evaluated for impairment	1,275	1,963	1,299
Ending balance: collectively evaluated for impairment	6,655	7,398	6,991
Loans Receivable | Construction and Land
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 157	$ 174	174
Charge-offs			(106)
Recoveries			170
Provisions	$ (11)		(81)
Ending balance	$ 146	$ 174	$ 157
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	$ 146	$ 174	$ 157
Loans:
Ending balance: individually evaluated for impairment	1,953	2,221	1,971
Ending balance: collectively evaluated for impairment	3,185	2,683	2,864
Loans Receivable | Unallocated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 250	$ 250	$ 250
Charge-offs
Recoveries
Provisions	$ (250)
Ending balance		$ 250	$ 250
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment		$ 250	$ 250
Loans:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment

LOANS RECEIVABLE (Details 2)

LOANS RECEIVABLE (Details 2) - Loans Receivable - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Total	$ 94,938	$ 95,579
Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	88,756	89,716
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	1,892	1,575
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 4,290	$ 4,288
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Residential Real Estate, HELOC, and Consumer
Financing Receivable, Recorded Investment [Line Items]
Total	$ 81,870	$ 82,454
Residential Real Estate, HELOC, and Consumer | Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	78,916	79,697
Residential Real Estate, HELOC, and Consumer | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	1,635	1,481
Residential Real Estate, HELOC, and Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 1,319	$ 1,276
Residential Real Estate, HELOC, and Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Residential Real Estate, HELOC, and Consumer | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Non-residential Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total	$ 7,930	$ 8,290
Non-residential Real Estate | Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	6,655	$ 7,156
Non-residential Real Estate | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	165
Non-residential Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 1,110	$ 1,134
Non-residential Real Estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Non-residential Real Estate | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Construction and Land
Financing Receivable, Recorded Investment [Line Items]
Total	$ 5,138	$ 4,835
Construction and Land | Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	3,185	2,863
Construction and Land | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	92	94
Construction and Land | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 1,861	$ 1,878
Construction and Land | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Construction and Land | Loss
Financing Receivable, Recorded Investment [Line Items]
Total

LOANS RECEIVABLE (Details 3)

LOANS RECEIVABLE (Details 3) - Loans Receivable - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
With no related allowance recorded:
Recorded investment	$ 5,447	$ 8,506	$ 5,469
Unpaid principal balance	7,131	10,375	7,146
Average recorded investment	5,708	8,550	7,263
Interest income recognized	66	96	418
Interest income foregone	12	36	74
With an allowance recorded:
Recorded investment	817	1,065	990
Unpaid principal balance	817	1,065	990
Related allowance	41	51	46
Average recorded investment	696	1,067	880
Interest income recognized	$ 6	$ 8	$ 33
Interest income foregone
Total
Recorded investment	$ 6,264	$ 9,571	$ 6,459
Unpaid principal balance	7,948	11,440	8,136
Related allowance	41	51	46
Average recorded investment	6,404	9,617	8,143
Interest income recognized	72	104	451
Interest income foregone	12	36	74
Residential Real Estate, HELOC, and Consumer
With no related allowance recorded:
Recorded investment	2,219	4,322	2,199
Unpaid principal balance	2,548	5,127	2,528
Average recorded investment	2,320	4,357	3,321
Interest income recognized	32	57	270
Interest income foregone	7	20	39
With an allowance recorded:
Recorded investment	817	1,065	990
Unpaid principal balance	817	1,065	990
Related allowance	41	51	46
Average recorded investment	696	1,067	880
Interest income recognized	$ 6	$ 8	$ 33
Interest income foregone
Total
Recorded investment	$ 3,036	$ 5,387	$ 3,189
Unpaid principal balance	3,365	6,192	3,518
Related allowance	41	51	46
Average recorded investment	3,016	5,424	4,201
Interest income recognized	38	65	303
Interest income foregone	7	20	39
Non-residential Real Estate
With no related allowance recorded:
Recorded investment	1,275	1,963	1,299
Unpaid principal balance	1,552	2,007	1,570
Average recorded investment	1,382	1,966	1,766
Interest income recognized	9	11	44
Interest income foregone	$ 3	$ 13	$ 28
With an allowance recorded:
Recorded investment
Unpaid principal balance
Related allowance
Average recorded investment
Interest income recognized
Interest income foregone
Total
Recorded investment	$ 1,275	$ 1,963	$ 1,299
Unpaid principal balance	$ 1,552	$ 2,007	$ 1,570
Related allowance
Average recorded investment	$ 1,382	$ 1,966	$ 1,766
Interest income recognized	9	11	44
Interest income foregone	3	13	28
Construction and Land
With no related allowance recorded:
Recorded investment	1,953	2,221	1,971
Unpaid principal balance	3,031	3,241	3,048
Average recorded investment	2,006	2,227	2,176
Interest income recognized	25	28	104
Interest income foregone	$ 2	$ 3	$ 7
With an allowance recorded:
Recorded investment
Unpaid principal balance
Related allowance
Average recorded investment
Interest income recognized
Interest income foregone
Total
Recorded investment	$ 1,953	$ 2,221	$ 1,971
Unpaid principal balance	$ 3,031	$ 3,241	$ 3,048
Related allowance
Average recorded investment	$ 2,006	$ 2,227	$ 2,176
Interest income recognized	25	28	104
Interest income foregone	$ 2	$ 3	$ 7

LOANS RECEIVABLE (Details 4)

LOANS RECEIVABLE (Details 4) - Loans Receivable - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 93,185	$ 94,261
Greater than 90 day past due and still accruing	56
Total past due	1,753	$ 1,318
Total	94,938	95,579
30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,044	949
60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	267	6
Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	386	363
Residential Real Estate, HELOC, and Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	80,260	$ 81,278
Greater than 90 day past due and still accruing	56
Total past due	1,610	$ 1,176
Total	81,870	82,454
Residential Real Estate, HELOC, and Consumer | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,044	910
Residential Real Estate, HELOC, and Consumer | 60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	229	6
Residential Real Estate, HELOC, and Consumer | Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	281	260
Non-residential Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 7,825	$ 8,187
Greater than 90 day past due and still accruing
Total past due	$ 105	$ 103
Total	$ 7,930	$ 8,290
Non-residential Real Estate | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due
Non-residential Real Estate | 60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due
Non-residential Real Estate | Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 105	$ 103
Construction and Land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 5,100	$ 4,796
Greater than 90 day past due and still accruing
Total past due	$ 38	$ 39
Total	$ 5,138	4,835
Construction and Land | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		$ 39
Construction and Land | 60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 38
Construction and Land | Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due

LOANS RECEIVABLE (Details 5)

LOANS RECEIVABLE (Details 5) - Loans Receivable - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	$ 1,541	$ 1,566
Other non-accrual loans	292	294
Total non-accrual loans	1,833	1,860
Accruing troubled debt restructured loans	3,538	3,697
Total	5,371	5,557
Residential Real Estate, HELOC, and Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	425	430
Other non-accrual loans	292	294
Total non-accrual loans	717	724
Accruing troubled debt restructured loans	1,518	1,657
Total	2,235	2,381
Non-residential Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	$ 1,078	$ 1,097
Other non-accrual loans
Total non-accrual loans	$ 1,078	$ 1,097
Accruing troubled debt restructured loans	197	202
Total	1,275	1,299
Construction and Land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	$ 38	$ 39
Other non-accrual loans
Total non-accrual loans	$ 38	$ 39
Accruing troubled debt restructured loans	1,823	1,838
Total	$ 1,861	$ 1,877

LOANS RECEIVABLE (Details 6)

LOANS RECEIVABLE (Details 6) - Loans Receivable $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contracts	7
Pre-modification Outstanding Recorded Investment	$ 844
Post-modification Outstanding Recorded Investment	$ 844
Residential real estate and consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contracts	7
Pre-modification Outstanding Recorded Investment	$ 844
Post-modification Outstanding Recorded Investment	$ 844
Non-residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contracts
Pre-modification Outstanding Recorded Investment
Post-modification Outstanding Recorded Investment
Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | Contracts
Pre-modification Outstanding Recorded Investment
Post-modification Outstanding Recorded Investment

LOANS RECEIVABLE (Detail Textua

LOANS RECEIVABLE (Detail Textuals) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Loans to value ratio	80.00%
Percentage of loan secured by certificate of deposits	100.00%
Loans serviced by bank for benefit of other loan	$ 430,000	$ 434,000

OTHER REAL ESTATE OWNED (Detail

OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Other Real Estate [Roll Forward]
Beginning balance		$ 379	$ 379
Additions
Transfers from Loans
Transfers to Loans			$ (41)
Sales			(180)
Provisions		$ (51)	$ (158)
Ending balance

OTHER REAL ESTATE OWNED (Deta45

OTHER REAL ESTATE OWNED (Detail Textuals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Real Estate [Abstract]
Other real estate owned			$ 379

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Deposit Liabilities Disclosure [Abstract]
Non-interest-bearing deposits	$ 1,260	$ 1,758
NOW and Money market	20,418	20,591
Savings	14,570	14,721
Certificates of deposit	60,510	55,622
Total deposits	$ 96,758	$ 92,692

DEPOSITS (Details 1)

DEPOSITS (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Deposit Liabilities Disclosure [Abstract]
2,016	$ 22,883
2,017	13,620
2,018	7,621
2,019	5,913
2,020	6,126
2,021	4,347
Total	$ 60,510	$ 55,622

DEPOSITS (Detail Textuals)

DEPOSITS (Detail Textuals) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Deposit Liabilities [Line Items]
Time deposits, $250,000 or more	$ 1,832,000	$ 1,575,000
Deposits	96,758,000	92,692,000
Executive officers and directors
Deposit Liabilities [Line Items]
Deposits	$ 632,000	$ 609,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Deferred loan fees and costs, net	$ 10	$ 5
Allowance for credit losses	515	616
Deferred compensation	63	97
Allowance for ground rents	55	54
Allowance for delinquent mortgage interest	150	149
Contribution carryforward	2	2
Net operating loss carryforward	$ 1,531	1,442
Unrealized loss on available-for-sale securities		7
Total deferred tax assets	$ 2,326	2,372
Valuation allowance	(1,531)	(1,442)
Deferred tax assets after valuation allowance	795	930
Deferred tax liabilities:
Depreciation	128	128
ESOP	12	$ 9
Unrealized gain on available-for-sale securities	26
Total deferred tax liabilities	166	$ 137
Net deferred tax assets	$ 629	$ 793

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Current federal and state	$ (3)	$ (1)
Deferred tax	131	20
Total	$ 128	$ 19

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Deferred Tax Assets Valuation Allowance [Roll Forward]
Beginning balance	$ (1,442)
Ending balance	(1,531)	$ (1,442)
Valuation allowance for Capital Loss Carryforwards
Deferred Tax Assets Valuation Allowance [Roll Forward]
Beginning balance	(1,442)	(843)
Expiration of capital loss carryforwards		2
Increase in valuation allowance	(89)	(601)
Ending balance	$ (921)	$ (1,442)

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	36 Months Ended
	Dec. 31, 2010	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Loss Carryforwards [Line Items]
Cumulative capital losses	$ 799,000
Deferred tax assets on cumulative capital losses				$ 101,000	$ 692,000
Capital loss carryforwards expired			$ 5,000	$ 40,000	$ 273,000
Deferred tax assets for capital loss carryforwards expire in 2015			$ 2,000
Valuation allowance of remaining deferred tax assets and liabilities relating to the timing difference		$ 629,000
Valuation allowance for Capital Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Deferred tax assets on cumulative capital losses		$ 315,000
Percentage of valuation allowance establish for deferred tax assets		100.00%
Federal and state
Operating Loss Carryforwards [Line Items]
Federal and state net operating loss carryforwards		$ 3,700,000

REGULATORY CAPITAL REQUIREMEN53

REGULATORY CAPITAL REQUIREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Total risk-based capital (to risk-weighted assets) Amount	$ 25,947	$ 25,897
Total risk-based capital (to risk-weighted assets) Ratio	36.79%	36.11%
Total risk-based capital (to risk-weighted assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Amount	$ 6,083	$ 5,737
Total risk-based capital (to risk-weighted assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Ratio	8.625%	8.00%
Tier I capital (to risk-weighted assets) Amount	$ 25,061	$ 24,993
Tier I capital (to risk-weighted assets) Ratio	35.53%	34.85%
Tier I capital (to risk-weighted assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Amount	$ 4,672	$ 4,303
Tier I capital (to risk-weighted assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Ratio	6.625%	6.00%
Tier I capital (to adjusted total assets) Amount	$ 25,061	$ 24,993
Tier I capital (to adjusted total assets) Ratio	18.28%	17.94%
Tier I capital (to adjusted total assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Amount	$ 6,341	$ 5,573
Tier I capital (to adjusted total assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Ratio	4.625%	4.00%
Common equity tier 1 capital (to risk weighted assets) Amount	$ 25,061	$ 24,993
Common equity tier 1 capital (to risk weighted assets) Ratio	35.53%	34.85%
Common equity tier 1 capital (to risk weighted assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Amount	$ 3,615	$ 3,227
Common equity tier 1 capital (to risk weighted assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Ratio	5.125%	4.50%

REGULATORY CAPITAL REQUIREMEN54

REGULATORY CAPITAL REQUIREMENTS (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Total Company equity capital	$ 34,968	$ 34,881
LESS: Parent Only Equity	9,865	9,899
LESS: Net unrealized (losses) gains on available-for-sale securities	42	(11)
Tier 1 Capital	25,061	24,993
Tier 1 Capital	25,061	24,993
Allowance for loan and lease losses includible in Tier 2 capital	886	904
Total risk-based capital	$ 25,947	$ 25,897

OTHER COMPREHENSIVE INCOME (Det

OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Total available for sale securities before reclassification after tax	$ 87
Net unrealized loss on securities available-for-sale, Tax Effect	(34)
Net unrealized gain (loss) on securities available-for-sale, Net of Tax	53
Other Comprehensive Gain (Loss), Before Tax	87
Other Comprehensive Gain (Loss), Tax Effect	(34)
Other Comprehensive Gain (Loss), Net of Tax	$ 53

OTHER COMPREHENSIVE INCOME (D56

OTHER COMPREHENSIVE INCOME (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Year	$ (11)
Other comprehensive gain (loss)	53
Balance at End of Period	42
Securities Available-for-sale
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Year	(11)	$ 15
Other comprehensive gain (loss)	53
Balance at End of Period	42	$ 15
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Year	(11)	$ 15
Other comprehensive gain (loss)	53
Balance at End of Period	$ 42	$ 15

OTHER COMPREHENSIVE INCOME (D57

OTHER COMPREHENSIVE INCOME (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on redemption of investment securities	$ 25
Provision for Income Tax	128	$ 19
Net of Tax	1	$ (204)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of Tax	(16)
Reclassification out of Accumulated Other Comprehensive Income | Redemption of Investment Securities Available-for-sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on redemption of investment securities	(25)
Provision for Income Tax	9
Net of Tax	$ (16)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic EPS
Net loss available to shareholders	$ 1	$ (204)
Shares (Denominator)	1,959,885	1,948,600
Basic loss earnings per share (in dollars per share)	$ 0	$ (0.10)
Diluted EPS
Net loss available to shareholders
Shares (Denominator)
Effect of dilutive shares
Diluted earnings (loss) per share (in dollars per share)	$ 0	$ (0.10)

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Investments (available-for-sale) :
Available-for-sale securities	$ 3,543	$ 8,480
Recurring basis
Mortgage backed securities:
Trading Gains and (Losses)
Total Changes In Fair Values Included In Period Earnings
Total assets measured at fair value on a recurring basis	$ 3,543	$ 8,480
Recurring basis | FHLMC AFS
Investments (available-for-sale) :
Trading Gains and (Losses)
Available-for-sale securities		$ 1,964
Mortgage backed securities:
Trading Gains and (Losses)
Mortgage-backed securities	$ 693	$ 703
Total Changes In Fair Values Included In Period Earnings
Recurring basis | FNMA AFS
Mortgage backed securities:
Trading Gains and (Losses)
Total Changes in Fair Values Included in Period Earnings
Mortgage-backed securities	$ 114	$ 123
Total Changes In Fair Values Included In Period Earnings
Recurring basis | GNMA AFS
Mortgage backed securities:
Trading Gains and (Losses)
Total Changes in Fair Values Included in Period Earnings
Mortgage-backed securities	$ 713	$ 710
Total Changes In Fair Values Included In Period Earnings
Recurring basis | FFCB AFS
Investments (available-for-sale) :
Trading Gains and (Losses)
Available-for-sale securities	$ 2,023	$ 4,980
Mortgage backed securities:
Total Changes In Fair Values Included In Period Earnings
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1)
Mortgage backed securities:
Total assets measured at fair value on a recurring basis
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | FHLMC AFS
Investments (available-for-sale) :
Available-for-sale securities
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | FNMA AFS
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | GNMA AFS
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | FFCB AFS
Investments (available-for-sale) :
Available-for-sale securities
Recurring basis | Other Observable Inputs (Level 2)
Mortgage backed securities:
Total assets measured at fair value on a recurring basis	$ 3,543	$ 8,480
Recurring basis | Other Observable Inputs (Level 2) | FHLMC AFS
Investments (available-for-sale) :
Available-for-sale securities		1,964
Mortgage backed securities:
Mortgage-backed securities	693	703
Recurring basis | Other Observable Inputs (Level 2) | FNMA AFS
Mortgage backed securities:
Mortgage-backed securities	114	123
Recurring basis | Other Observable Inputs (Level 2) | GNMA AFS
Mortgage backed securities:
Mortgage-backed securities	713	710
Recurring basis | Other Observable Inputs (Level 2) | FFCB AFS
Investments (available-for-sale) :
Available-for-sale securities	$ 2,023	$ 4,980
Recurring basis | Significant Unobservable Inputs (Level 3)
Mortgage backed securities:
Total assets measured at fair value on a recurring basis
Recurring basis | Significant Unobservable Inputs (Level 3) | FHLMC AFS
Investments (available-for-sale) :
Available-for-sale securities
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Significant Unobservable Inputs (Level 3) | FNMA AFS
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Significant Unobservable Inputs (Level 3) | GNMA AFS
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Significant Unobservable Inputs (Level 3) | FFCB AFS
Investments (available-for-sale) :
Available-for-sale securities
Mortgage backed securities:
Mortgage-backed securities

FAIR VALUE MEASUREMENTS (Deta60

FAIR VALUE MEASUREMENTS (Details 1) - Fair value measurements, nonrecurring - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings		$ (158)
Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Impaired loans - Construction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings		$ (158)
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	$ 6,223	6,413
Fair Value | Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	2,995	3,143
Fair Value | Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	1,275	1,299
Fair Value | Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	$ 1,953	$ 1,971
Fair Value | Impaired loans - Construction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Fair Value | Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Quoted Prices In Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired loans - Construction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Quoted Prices In Active Markets for Identical Assets (Level 1) | Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	$ 5,447	$ 5,469
Other Observable Inputs (Level 2) | Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	2,219	2,199
Other Observable Inputs (Level 2) | Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	1,275	1,299
Other Observable Inputs (Level 2) | Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	$ 1,953	$ 1,971
Other Observable Inputs (Level 2) | Impaired loans - Construction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Other Observable Inputs (Level 2) | Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	$ 776	$ 944
Significant Unobservable Inputs (Level 3) | Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	$ 776	$ 944
Significant Unobservable Inputs (Level 3) | Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Significant Unobservable Inputs (Level 3) | Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Significant Unobservable Inputs (Level 3) | Impaired loans - Construction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Significant Unobservable Inputs (Level 3) | Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis

FAIR VALUE MEASUREMENTS (Deta61

FAIR VALUE MEASUREMENTS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Carrying Value
ASSETS
Cash, interest-bearing deposits and federal funds sold	$ 2,508	$ 2,924
Other interest bearing deposits in other banks	16,913	19,107
Investment securities	24,832	17,625
Federal Home Loan Bank stock	673	688
Loans, net	92,702	93,125
Bank owned life insurance	908	896
Accrued interest receivable	398	324
LIABILITIES
Deposits	95,502	92,692
FHLB Borrowings	12,000	12,000
Fair Value
ASSETS
Cash, interest-bearing deposits and federal funds sold	2,508	2,924
Other interest bearing deposits in other banks	16,913	19,128
Investment securities	22,017	17,775
Federal Home Loan Bank stock	673	688
Loans, net	91,555	90,004
Bank owned life insurance	908	896
Accrued interest receivable	398	324
LIABILITIES
Deposits	93,095	89,354
FHLB Borrowings	$ 11,731	$ 12,400
Quoted Prices In Active Markets for Identical Assets (Level 1)
ASSETS
Cash, interest-bearing deposits and federal funds sold
Other interest bearing deposits in other banks
Investment securities
Federal Home Loan Bank stock
Loans, net
Bank owned life insurance
Accrued interest receivable
LIABILITIES
Deposits
FHLB Borrowings
Other Observable Inputs (Level 2)
ASSETS
Cash, interest-bearing deposits and federal funds sold	$ 2,508	$ 2,924
Other interest bearing deposits in other banks	16,913	19,128
Investment securities	22,017	17,775
Federal Home Loan Bank stock	673	688
Loans, net	5,447	5,469
Bank owned life insurance	909	896
Accrued interest receivable	$ 398	$ 324
LIABILITIES
Deposits
FHLB Borrowings
Significant Unobservable Inputs (Level 3)
ASSETS
Cash, interest-bearing deposits and federal funds sold
Other interest bearing deposits in other banks
Investment securities
Federal Home Loan Bank stock
Loans, net	$ 86,108	$ 84,535
Bank owned life insurance
Accrued interest receivable
LIABILITIES
Deposits	$ 93,095	$ 89,354
FHLB Borrowings	$ 11,731	$ 12,400

FAIR VALUE MEASUREMENTS (Deta62

FAIR VALUE MEASUREMENTS (Detail Textuals) - Loans Receivable	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	3.00%	3.00%
Contractual rates	5.25%	5.25%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	4.00%	4.00%
Contractual rates	7.375%	7.375%

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - shares	May. 13, 2016	Mar. 30, 2016
Subsequent Event [Line Items]
Maximum percentage of outstanding shares for shares authorized to be repurchased		10.00%
Subsequent Event
Subsequent Event [Line Items]
Stock repurchased	189,200