MB Bancorp (MBCQ) 10-Q 12 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 12, 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		1,904,400
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets:
Cash and due from banks	$ 5,079	$ 2,924
Interest bearing deposits in other banks	2,586	797
Total cash and cash equivalents	7,665	3,721
Other interest-bearing deposits in other banks	10,551	18,310
Investment securities available-for-sale - at fair value	2,489	8,480
Investment securities held to maturity - amortized cost	20,072	9,145
Loans, net of unearned fees	92,593	94,686
Less allowance for loan losses	(1,227)	(1,561)
Loans, net	91,366	93,125
Real estate ground rents	828	831
Less allowance for credit losses	(150)	(136)
Ground rents, net	678	695
Federal Home Loan Bank stock, at cost	673	688
Property and equipment - net	3,742	3,793
Deferred income taxes	606	793
Bank-owned life insurance	921	896
Accrued interest receivable and other assets	457	543
TOTAL ASSETS	139,220	140,189
LIABILITIES:
Deposits	94,549	92,692
Federal Home Loan Bank advances	12,000	12,000
Deferred compensation liability	163	246
Accounts payable and other liabilities	443	370
Total liabilities	107,155	105,308
STOCKHOLDERS' EQUITY:
Common stock .01 par value; authorized 19,000,000 shares; issued and outstanding, 1,904,400 and 2,116,000 shares at June 30, 2016 and December 31, 2015	19	21
Additional paid-in capital	18,154	20,158
Retained earnings - substantially restricted	15,369	16,284
Accumulated other comprehensive income (loss)	37	(11)
Unearned ESOP shares	(1,514)	(1,571)
Total stockholders' equity	32,065	34,881
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 139,220	$ 140,189

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parantheticals) - $ / shares	Jun. 30, 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	1,904,400	2,116,000
Common stock, shares outstanding	1,904,400	2,116,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
INTEREST INCOME:
Interest and fees on loans	$ 939	$ 1,045	$ 1,886	$ 2,107
Interest on federal funds sold and other investments	35	48	73	88
Interest and dividends on investment securities	181	108	349	225
Total interest income	1,155	1,201	2,308	2,420
INTEREST EXPENSE:
Interest on deposits	197	180	384	364
Interest on short-term borrowings		1		3
Interest on long term borrowings	126	126	252	251
Total interest expense	323	307	636	618
NET INTEREST INCOME	832	894	1,672	1,802
PROVISION (REVERSAL) FOR LOAN LOSSES	4	(5)	(251)	1
NET INTEREST INCOME AFTER PROVISION (REVERSAL) FOR LOAN LOSSES	828	899	1,923	1,801
NON-INTEREST INCOME:
Service charges on deposit accounts	2	4	5	6
Fees and charges on loans	8	8	16	20
Increase in cash surrender value of life insurance	13	12	25	25
Gain on sale of other real estate owned	3	2	5	7
Gain on investment securities	2		27
Ground rent fees	11	11	24	20
Other income	4	5	9	10
Total non-interest income	43	42	111	88
NON-INTEREST EXPENSE:
Salaries and employee benefits	565	609	1,158	1,218
Occupancy expenses	91	91	208	217
Furniture and equipment expenses	10	13	22	25
Legal and professional expenses	88	115	154	198
Data processing and other outside services	82	58	149	121
FDIC insurance premiums	23	27	45	53
Advertising and marketing related expenses	6	17	14	38
Provision for loss on other real estate owned				51
Provision (reversal) for loss on ground rents	11	3	9	(4)
Other expenses	145	153	296	302
Total non-interest expenses	1,021	1,086	2,055	2,219
LOSS BEFORE INCOME TAXES	(150)	(145)	(21)	(330)
INCOME TAX EXPENSE	22	86	150	105
NET LOSS	$ (172)	$ (231)	$ (171)	$ (435)
Basic loss per share (in dollars per share)	$ (0.10)	$ (0.12)	$ (0.09)	$ (0.22)
Diluted loss per share (in dollars per share)	$ (0.10)	$ (0.12)	$ (0.09)	$ (0.22)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (172)	$ (231)	$ (171)	$ (435)
OTHER COMPREHENSIVE (LOSS) INCOME ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES:
Unrealized (losses) gains arising during the period	(6)	(13)	106	(13)
Reclassification of gain included in net income	(2)		(27)
Unrealized (losses) gains arising during the period	(8)	(13)	79	(13)
Income taxes on unrealized (losses) gains arising during the period	3	5	(31)	5
TOTAL COMPREHENSIVE INCOME (LOSS) ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES	(5)	(8)	48	(8)
COMPREHENSIVE LOSS	$ (177)	$ (239)	$ (123)	$ (443)

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 loss			(435)			(435)
Net unrealized gain (loss) on available- for sale securities, net of taxes of ($5 and $31 for the period ended June 30, 2015 and June 30, 2016 respectively).					(8)	(8)
Stock-based compensation		4		57		61
BALANCES at Jun. 30, 2015	21	20,148	16,883	(1,627)	7	35,432
BALANCES at Dec. 31, 2015	21	20,158	16,284	(1,571)	(11)	34,881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(171)			(171)
Net unrealized gain (loss) on available- for sale securities, net of taxes of ($5 and $31 for the period ended June 30, 2015 and June 30, 2016 respectively).					48	48
Repurchase of common stock	(2)	(2,014)	(744)			(2,760)
Stock-based compensation		10		57		67
BALANCES at Jun. 30, 2016	$ 19	$ 18,154	$ 15,369	$ (1,514)	$ 37	$ 32,065

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Stockholders' Equity [Abstract]
Net unrealized loss on securities available-for-sale, Tax Effect	$ 3	$ 5	$ (31)	$ 5

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (171)	$ (435)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation expense	68	70
Increase in cash surrender value of life insurance	(25)	(25)
Net amortization/accretion of premiums and discounts	(5)	(6)
(Reversal) provision for loan losses	(251)	1
Provision (reversal) for ground rent losses	9	(4)
Decrease in deferred income taxes	156	108
Provision for loss on other real estate owned		51
Non-cash compensation under stock-based benefit plan	67	61
Gain on sale of other real estate owned	(5)	(7)
Decrease in accrued interest and other assets	86	74
Gain on redemption of investment securities	(27)
Decrease in deferred compensation liability	(83)	(119)
Increase in accounts payable and other liabilities	78	141
Net cash used in operating activities	(103)	(90)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net decrease (increase) in other interest bearing deposits in other banks	7,759	(13,446)
Purchase of available-for-sale investments		(1,996)
Proceeds from calls/repayments of available-for-sale investments	6,095	49
Purchase of held-to-maturity investments	(25,095)
Proceeds from maturity/repayments of held-to-maturity investments	14,176	4,604
Net decrease in loans	2,009	5,170
Proceeds from sale of ground rents	8	6
Proceeds from sale of other real estate owned		154
Purchase of property, plant and equipment	(17)	(27)
Redemption of Federal Home Loan Bank stock	15	241
Net cash provided by (used in) investing activities	4,950	(5,245)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	1,857	(1,663)
Federal Home Loan Bank advances	1,000	4,750
Federal Home Loan Bank repayments	(1,000)	(8,500)
Repurchase of common stock	(2,760)
Net cash used in financing activities	(903)	(5,413)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	3,944	(10,748)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	3,721	15,190
CASH AND CASH EQUIVALENTS AT END OF YEAR	7,665	4,442
Supplemental cash flow information:
Interest paid	636	619
Income taxes paid
Noncash:
Transfer of other real estate owned to loans		$ 41

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 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., founded in 1899 in the State of Maryland, merged with Madison & Bradford Federal Savings & Loan Association, founded 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 distribution 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 June 30, 2016 and for the three and six months ended June 30, 2016 and 2015 contains all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at June 30, 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 and six months ended June 30, 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 (“GAAP”) 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 the loan is placed on non-accual status until the Company receives six consecutive monthly payments. 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. Real Estate Ground Rents Ground rents are a form of real estate ownership where the land is owned by one entity, but the improved property located on the land is owned by the homeowner. The Company's ground rents are supplemented by deeds that have been registered with Maryland State Department of Assessments and Taxation. Under Maryland law, homeowners are required to pay the ground rent owner an annual fee that is stated in the original ground rent deed. The fee is typically 6% of the original value of the land as stipulated in the deed and is paid biannually. In addition, Maryland law stipulates that ground rent owners are required to sell or redeem the ground rent to the homeowner when requested. The redemption price on the ground rent is the lesser of the annual ground rent fee divided by a statutory redemption rate, which ranges from 6% to 12%, or the contractual sales price. Maryland also limits the collection of ground rent fees to amounts due for three years or less. 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, 2014, 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	6 Months Ended
	Jun. 30, 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 issued 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). In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.”

INVESTMENT SECURITIES

INVESTMENT SECURITIES	6 Months Ended
	Jun. 30, 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: June 30, 2016 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government sponsored securities: FFCB bonds $ 999 $ 5 $ — $ 1,004 Total U.S. Government sponsored securities 999 5 — 1,004 Mortgage-backed securities: FHLMC certificates 648 21 — 669 FNMA certificates 101 6 — 107 GNMA certificates 680 29 — 709 Total mortgage-backed securities 1,429 56 — 1,485 Total investments available-for-sale $ 2,428 $ 61 $ — $ 2,489 December 31, 2015 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government sponsored securities: FHLMC bonds $ 1,983 $ — $ (19 ) $ 1,964 FFCB bonds 4,991 3 (14 ) 4,980 Total U.S. Government sponsored 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: June 30, 2016 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government sponsored securities: FHLB bonds $ 5,000 $ 10 $ — $ 5,010 FNMA bonds 1,000 36 — 1,036 FFCB bonds 7,170 11 — 7,181 Total U.S. Government sponsored securities 13,170 57 — 13,227 Mortgage-backed securities: FHLMC certificates 2,593 98 — 2,691 FNMA certificates 2,366 170 — 2,536 GNMA certificates 1,943 63 — 2,006 Total mortgage backed securities 6,902 331 — 7,233 Total investments held-to-maturity $ 20,072 $ 388 $ — $ 20,460 December 31, 2015 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government sponsored securities: FHLMC bonds $ 998 $ — $ (21 ) $ 977 FNMA bonds 1,000 — (10 ) 990 FFCB bonds 3,000 — (57 ) 2,943 Total U.S. Government sponsored 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 As of June 30, 2016 the Bank had no available-for-sale and held-to maturity securities in an unrealized loss position. Below is the schedule of both available-for-sale and held-to-maturity securities with unrealized losses as of December 31, 2015 and the length of time the individual security has been in a continuous unrealized loss position which were comprised of 11 securities. 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. 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. 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 sponsored securities — — 10,852 (121 ) 10,852 (121 ) Total temporarily impaired securities $ — $ — $ 11,969 $ (125 ) $ 11,969 $ (125 ) The scheduled maturities of debt securities at June 30, 2016 (unaudited) were as follows: Amortized Cost (in thousands) Fair Value (in thousands) Due over one year through five years $ — $ — Due over five years through ten years 2,999 3,043 Due after ten years 11,170 11,188 Mortgage-backed securities 8,331 8,718 Total $ 22,500 $ 22,949

LOANS RECEIVABLE

LOANS RECEIVABLE	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
LOANS RECEIVABLE	4. LOANS RECEIVABLE Loans receivable consist of the following: June 30, 2016 December 31, 2015 (Dollars in thousands) (unaudited) Secured by real estate: Residential: One-to four-family $ 75,489 $ 76,632 Multi-family 2,071 2,100 Total 77,560 78,732 Non-residential 7,576 8,290 Construction and land loans 4,616 4,835 Home equity line of credit (“HELOC”) 3,740 3,695 Consumer and other loans: Loans to depositors, secured by savings 22 27 93,514 95,579 Add: Net discount on purchased loans (9 ) (9 ) Unamortized net deferred costs 19 26 Less: Undisbursed portion of construction loans (883 ) (871 ) Unearned net loan origination fees (48 ) (39 ) Less allowance for loan losses (1,227 ) (1,561 ) Loans receivable, net $ 91,366 $ 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 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 and six months ended June 30, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance, April 1, 2016 $ 964 $ 196 $ 146 $ — $ 1,306 Charge-offs (2 ) — (81 ) — (83 ) Recoveries — — — — — Provisions (Reversals) (1 ) (17 ) 22 — 4 Ending balance, June 30, 2016 $ 961 $ 179 $ 87 $ — $ 1,227 Beginning balance, January 1, 2016 $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs (2 ) — (81 ) — (83 ) Recoveries — — — — — Provisions (Reversals) 3 (15 ) 11 (250 ) (251 ) Ending balance, June 30, 2016 $ 961 $ 179 $ 87 $ — $ 1,227 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 45 $ — $ — $ — $ 45 Ending balance: collectively evaluated for impairment $ 916 $ 179 $ 87 $ — $ 1,182 Loans: Ending balance: individually evaluated for impairment $ 3,816 $ 1,255 $ 2,411 $ — $ 7,482 Ending balance: collectively evaluated for impairment $ 77,506 $ 6,321 $ 2,205 $ — $ 86,032 Allowance for loan losses and recorded investment in loans for the three and six months ended June 30, 2015 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance, April 1, 2015 $ 1,220 $ 79 $ 174 $ 250 $ 1,723 Charge-offs (1 ) — — — (1 ) Recoveries 8 — — — 8 Provisions (Reversals) (25 ) 9 11 — (5 ) Ending balance, June 30, 2015 $ 1,202 $ 88 $ 185 $ 250 $ 1,725 Beginning balance, January 1, 2015 $ 1,228 $ 79 $ 174 $ 250 $ 1,731 Charge-offs (17 ) — — — (17 ) Recoveries 10 — — — 10 Provisions (Reversals) (19 ) 9 11 — 1 Ending balance, June 30, 2015 $ 1,202 $ 88 $ 185 $ 250 $ 1,725 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 46 $ — $ — $ — $ 46 Ending balance: collectively evaluated for impairment $ 1,158 $ 88 $ 185 $ 250 $ 1,679 Loans: Ending balance: individually evaluated for impairment $ 4,994 $ 1,948 $ 2,207 $ — $ 9,149 Ending balance: collectively evaluated for impairment $ 80,500 $ 7,312 $ 2,921 $ — $ 90,733 Allowance for loan losses and recorded investment in loans for the year ended December 31, 2015 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land 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 (Reversals) (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 June 30, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Total Pass $ 76,081 $ 6,138 $ 2,205 $ 84,424 Special mention 2,858 161 90 3,109 Substandard 2,383 1,277 2,321 5,981 Doubtful — — — — Loss — — — — Total $ 81,322 $ 7,576 $ 4,616 $ 93,514 Credit risk profile by internally assigned classification as of December 31, 2015 is as follows: (Dollars in thousands) Residential Non-residential Construction Total Pass $ 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 the three and for the six months ended June 30, 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 $ 2,619 $ 1,255 $ 2,411 $ 6,285 Unpaid principal balance 2,951 1,535 3,569 8,055 Average recorded investment, for the three months ended June 30, 2016 2,620 1,261 2,472 6,353 Interest income recognized 39 13 41 93 Interest income foregone 7 3 2 12 Average recorded investment, for the six months ended June 30, 2016 2,272 1,321 2,239 5,832 Interest income recognized 71 22 73 166 Interest income foregone 12 7 2 21 With an allowance recorded: Recorded investment 1,197 — — 1,197 Unpaid principal balance 1,197 — — 1,197 Related allowance 45 — — 45 Average recorded investment, for the three months ended June 30, 2016 1,200 — — 1,200 Interest income recognized 15 — — 15 Interest income foregone 1 — — 1 Average recorded investment, for the six months ended June 30, 2016 1,191 — — 1,191 Interest income recognized 23 — — 23 Interest income foregone 1 — — 1 Total Recorded investment 3,816 1,255 2,411 7,482 Unpaid principal balance 4,148 1,535 3,569 9,252 Related allowance 45 — — 45 Average recorded investment, for the three months ended June 30, 2016 3,820 1,261 2,472 7,553 Interest income recognized 54 13 41 108 Interest income foregone 8 3 2 13 Average recorded investment, for the six months ended June 30, 2016 3,463 1,321 2,239 7,023 Interest income recognized 94 22 73 189 Interest income foregone 13 7 2 22 Impaired loans as of the three and for the six months ended June 30, 2015 (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 $ 3,936 $ 1,948 $ 2,207 $ 8,091 Unpaid principal balance 4,686 1,996 3,227 9,909 Average recorded investment, for the three months ended June 30, 2015 4,035 1,957 2,212 8,204 Interest income recognized 53 10 26 89 Interest income foregone 12 12 1 25 Average recorded investment, for the six months ended June 30, 2015 4,196 1,961 2,219 8,376 Interest income recognized 110 21 54 185 Interest income foregone 26 19 3 48 With an allowance recorded: Recorded investment 1,058 — — 1,058 Unpaid principal balance 1,058 — — 1,058 Related allowance 46 — — 46 Average recorded investment, for the three months ended June 30, 2015 1,060 — — 1,060 Interest income recognized 9 — — 9 Interest income foregone — — — — Average recorded investment, for the six months ended June 30, 2015 1,064 — — 1,064 Interest income recognized 17 — — 17 Interest income foregone — — — — Total Recorded investment 4,994 1,948 2,207 9,149 Unpaid principal balance 5,744 1,996 3,227 10,967 Related allowance 46 — — 46 Average recorded investment, for the three months ended June 30, 2015 5,095 1,957 2,212 9,264 Interest income recognized 62 10 26 98 Interest income foregone 12 12 1 25 Average recorded investment, for the six months ended June 30, 2015 5,260 1,961 2,219 9,440 Interest income recognized 127 21 54 202 Interest income foregone 26 19 3 48 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 June 30, 2016 (unaudited) are as follows: (Dollars in thousands) Residential Non- Construction Total Current $ 79,292 $ 7,469 $ 4,580 $ 91,341 30 - 59 days past due 1,284 — — 1,284 60 - 89 days past due 229 — 36 265 Greater than 90 day past due and still accruing 175 — — 175 Greater than 90 days past due 342 107 — 449 Total past due 2,030 107 36 2,173 Total $ 81,322 $ 7,576 $ 4,616 $ 93,514 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 June 30, 2016 (unaudited) are as follows: (Dollars in thousands) Residential Non- Construction Total Non-accruing troubled debt restructured loans $ 420 $ 1,067 $ 37 $ 1,524 Other non-accrual loans 348 — — 348 Total non-accrual loans 768 1,067 37 1,872 Accruing troubled debt restructured loans 1,507 188 1,807 3,502 Total $ 2,275 $ 1,255 $ 1,844 $ 5,374 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 they 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 six months ended June 30, 2016 (unaudited). The following includes loans classified as troubled debt restructurings during the six months ended June 30, 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 six months ended June 30, 2016 and 2015 (unaudited). Loans serviced by the Bank for the benefit of others totaled $426,000 and $434,000 at June 30, 2016 (unaudited) and December 31, 2015, respectively. Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $5,000 as of June 30, 2016 (unaudited).

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	6 Months Ended
	Jun. 30, 2016
Other Real Estate [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED The balance in other real estate owned at June 30, 2016 (unaudited) and December 31, 2015 was zero. The activity in residential other real estate owned is as follows: June 30, 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	6 Months Ended
	Jun. 30, 2016
Deposit Liabilities Disclosure [Abstract]
DEPOSITS	6. DEPOSITS Deposits are summarized as follows: June 30, 2016 December 31, 2015 (Dollars in thousands) (unaudited) Non-interest-bearing deposits $ 1,450 $ 1,758 NOW and Money market 21,386 20,591 Savings 14,481 14,721 Certificates of deposit 57,232 55,622 Total deposits $ 94,549 $ 92,692 The aggregate amount of time deposits in denominations of $250,000 or more as of June 30, 2016 (unaudited) and December 31, 2015 was $1,843,000 and $1,575,000, respectively. Deposit amounts in excess of $250,000 generally are not insured by the Federal Deposit Insurance Corporation. At June 30, 2016 (unaudited), the schedule maturities of certificates of deposit are as follows: (Dollars in thousands) 2016 $ 13,978 2017 16,438 2018 9,431 2019 6,151 2020 6,161 2021 5,073 Total $ 57,232 Executive officers’ and directors’ deposits were $534,000 and $609,000 at June 30, 2016 (unaudited) and December 31, 2015, respectively.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 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: June 30, December 31, (Dollars in thousands) (unaudited) Deferred tax assets: Deferred loan fees and costs, net $ 11 $ 5 Allowance for credit losses 484 616 Deferred compensation 64 97 Allowance for ground rents 59 54 Allowance for delinquent mortgage interest 153 149 Contribution carryforward 2 2 Net operating loss carryforward 1,598 1,442 Unrealized loss on available-for-sale securities — 7 Total deferred tax assets 2,371 2,372 Valuation allowance (1,598 ) (1,442 ) Deferred tax assets after valuation allowance 773 930 Deferred tax liabilities: Depreciation 128 128 ESOP 16 9 Unrealized gain on available-for-sale securities 23 — Total deferred tax liabilities 167 137 Net deferred tax assets $ 606 $ 793 The provision for income taxes is comprised of the following: June 30, June 30, (Dollars in thousands) (unaudited) (unaudited) Tax expense (benefit): Current federal and state $ (6 ) $ (3 ) Deferred tax 156 108 Total $ 150 $ 105 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 will the respective related deferred tax assets of approximately $2,000. At June 30, 2016, the Bank had approximately $3,800,000 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 and six months ended June 30, 2016 and 2015 (unaudited) and December 31, 2015 is as follows: For the Three Months For the Six Months 2016 2015 2016 2015 (Dollars in thousands) (unaudited) (unaudited) Balance at beginning of period $ (1,531 ) $ (936 ) $ (1,442 ) $ (843 ) Expiration of capital loss carryforwards — — — — Increase in valuation allowance (67 ) (143 ) (156 ) (236 ) Balance as of June 30 $ (1,598 ) $ (1,079 ) $ (1,598 ) $ (1,079 ) (Dollars in thousands) Valuation Allowance Balance of January 1, 2015 $ (843 ) Expiration of capital loss carryforwards 2 Increase in valuation allowance (601 ) Balance of December 31, 2015 $ (1,442 ) As of December 31, 2015 and June 30, 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: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 $606,000: 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. .Madison Bank hired a seasoned Commercial Real Estate (“CRE”) loan officer who brings 25 years lending experience to the Bank and will provide the needed expertise in CRE lending to increase loan production. In the third and fourth quarters of 2016 two of our long term high rate advances will be maturing and paid off. 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 June 30, 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.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2016
Share-based Compensation [Abstract]
STOCK BASED COMPENSATION	8. STOCK BASED COMPENSATION On May 24, 2016, the stockholders of MB Bancorp, Inc. (the “Company”) approved the MB Bancorp, Inc. 2016 Equity Incentive Plan (the “Plan”). The 2016 Equity Incentive Plan allows for up to 84,640 shares to be issued to employees, officers and directors of the Company in the form of restricted stock, and up to 211,600 shares to be issued to employees, officers and directors of the Company in the form of stock options. At June 30, 2016, there were no restricted stock awards or stock options granted under the 2016 Equity Incentive Plan.

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	6 Months Ended
	Jun. 30, 2016
Regulatory Capital Requirements [Abstract]
REGULATORY CAPITAL REQUIREMENTS	9. 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 June 30, 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 June 30, 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 June 30, 2016: Total risk-based capital (to risk-weighted assets) $ 25,830 37.98 % $ 5,866 ≥8.625 % Tier I capital (to risk-weighted assets) 24,974 36.72 4,506 ≥6.625 Tier I capital (to adjusted total assets) 24,974 18.22 5,483 ≥4.000 Common equity tier 1 capital (to risk weighted assets) 24,974 36.72 3,486 > 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 > The following table presents a reconciliation of the Bank’s GAAP capital to each major category of regulatory capital for the dates indicated. June 30, December 31, (Dollars in thousands) (unaudited) Total Company equity capital $ 32,065 $ 34,881 LESS: Parent Only Equity 7,054 9,899 LESS: Net unrealized (losses) gains on available-for-sale securities 37 (11 ) Tier 1 Capital $ 24,974 $ 24,993 Tier 1 Capital $ 24,974 $ 24,993 Allowance for loan and lease losses includible in Tier 2 capital 856 904 Total risk-based capital $ 25,830 $ 25,897

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
OTHER COMPREHENSIVE INCOME	10. OTHER COMPREHENSIVE INCOME The following table presents the components of other comprehensive gains and losses for the three and six months ended June 30, 2016 and 2015 (unaudited). (Dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended June 30, 2016 (unaudited) Net unrealized gain on securities available-for-sale $ (8 ) $ 3 $ (5 ) Other Comprehensive Gain $ (8 ) $ 3 $ (5 ) Three Months Ended June 30, 2015 (unaudited) Net unrealized loss on securities available-for-sale $ (13 ) $ 5 $ (8 ) Other Comprehensive Loss $ (13 ) $ 5 $ (8 ) (Dollars in thousands) Before Tax Tax Effect Net of Tax Six Months Ended June 30, 2016 (unaudited) Net unrealized gain on securities available-for-sale $ 79 $ (31 ) $ 48 Other Comprehensive Gain $ 79 $ (31 ) $ 48 Six Months Ended June 30, 2015 (unaudited) Net unrealized loss on securities available-for-sale $ (13 ) $ 5 $ (8 ) Other Comprehensive Loss $ (13 ) $ 5 $ (8 ) The following table presents the changes in each components of accumulated other comprehensive income, net of tax, for the three and six months ended June 30, 2016 and 2015 (unaudited). (Dollars in thousands) Securities Available-for- Sale Accumulated Other Comprehensive Income Three Months Ended June 30, 2016 (unaudited) Balance at Beginning of Period $ 42 $ 42 Other comprehensive gain (5 ) (5 ) Balance at End of Period $ 37 $ 37 (Dollars in thousands) Securities Accumulated Other Six Months Ended June 30, 2016 (unaudited) Balance at Beginning of Year $ (11 ) $ (11 ) Other comprehensive gain 48 48 Balance at End of Period $ 37 $ 37 (Dollars in thousands) Securities Available-for- Sale Accumulated Other Comprehensive Income Three Months Ended June 30, 2015 (unaudited) Balance at Beginning of Period $ 15 $ 15 Other comprehensive loss (8 ) (8 ) Balance at End of Period $ 7 $ 7 (Dollars in thousands) Securities Accumulated Other Six Months Ended June 30, 2015 (unaudited) Balance at Beginning of Year $ 15 $ 15 Other comprehensive loss (8 ) (8 ) Balance at End of Period $ 7 $ 7 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 June 30, June 30, (Dollars in thousands) (unaudited) Redemption of Investment Securities Available-for-Sale $ (27 ) $ — Realized gain on redemption of investment securities 9 — Provision for Income Tax $ (18 ) $ — Net loss Total Reclassifications for the Period $ (18 ) $ — Net of Tax

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	11. 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 and six months ended June 30, 2016 and 2015 are as follows: Three Months Ended June 30, 2016 (unaudited) (Dollars in thousands, except per Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (172 ) 1,792,806 $ (0.10 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (172 ) 1,792,806 $ (0.10 ) Six Months Ended June 30, 2016 (unaudited) (Dollars in thousands, except per Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (171 ) 1,876,346 $ (0.09 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (171 ) 1,876,346 $ (0.09 ) Three Months Ended June 30, 2015 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (231 ) 1,951,420 $ (0.12 ) Diluted EPS Effect of dilutive shares - - - Net loss available to shareholders $ (231 ) 1,951,420 $ (0.12 ) Six Months Ended June 30, 2015 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (435 ) 1,950,018 $ (0.22 ) Diluted EPS Effect of dilutive shares - - - Net loss available to shareholders $ (435 ) 1,950,018 $ (0.22 ) There were no anti-dilutive shares excluded from the three and six months ended June 30, 2016 and 2015 diluted earnings per share calculations.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	12. 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 June 30, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value June 30, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FFCB Bonds $ 1,004 $ — $ 1,004 $ — $ — Mortgage-backed securities: FHLMC Certificates 669 — 669 — — FNMA Certificates 107 — 107 — — GNMA Certificates 709 — 709 — — Total assets measured at fair value on a recurring basis $ 2,489 $ — $ 2,489 $ — $ — 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) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FHLMC Bonds $ 1,964 $ — $ 1,964 $ — $ — FFCB Bonds 4,980 — 4,980 — — Mortgage-backed securities: FHLMC Certificates 703 — 703 — — FNMA Certificates 123 — 123 — — GNMA Certificates 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 June 30, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value June 30, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,771 $ — $ — $ 3,771 $ — Commercial 1,255 — — 1,255 — Land 2,411 — — 2,411 — Construction — — — — — Other real estate owned — — — — — Total assets measured at fair value on a non-recurring basis $ 7,437 $ — $ — $ 7,437 $ — The significant unobservable inputs (Level 3) are determined by using either an updated appraisal determining the fair value of the collateral or 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%. During the second quarter of 2016, management reevaluated its fair value leveling methodology and the inputs utilized in determining the valuation of impaired loans for the current and prior periods. Management concluded that due to the significant reliance on observable inputs, the fair values of its impaired loans should be classified as level 3 rather than level 2 as previously disclosed. Therefore impaired loans with a fair value of $6.4 million as of December 31, 2015, were reclassified from level 2 to level 3. 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) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,143 $ — $ — $ 3,143 $ — 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 $ — $ — $ 6,413 $ (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 June 30, 2016 (unaudited) and December 31, 2015 are as follows: Carrying Value June 30, 2016 Fair Value June 30, 2016 Quoted Prices Other Significant (Dollars in thousands) (unaudited) (unaudited) ASSETS Cash, interest bearing deposits and federal funds sold $ 5,079 $ 5,079 $ 5,079 $ — $ — Other interest bearing deposits in other banks 13,137 13,137 — 13,137 — Investment securities 22,561 22,949 — 22,949 — Federal Home Loan Bank stock 673 673 — 673 — Loans, net 91,366 92,123 — — 92,123 Bank owned life insurance 921 921 — 921 — Accrued interest receivable 315 315 — 315 — LIABILITIES Deposits $ 93,096 $ 91,897 $ — $ — $ 91,897 FHLB advances 12,000 12,501 — — 12,501 Accrued interest payable 67 67 — 67 — (Dollars in thousands) Carrying Value December 31, 2015 Fair Value December 31, 2015 Quoted Prices Other Significant 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 — — 90,004 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 Accrued interest payable 68 68 — 68 — The following methods and assumptions were used to estimate the fair value disclosures for financial instruments as of June 30, 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 and Accrued Interest Payable The amounts reported in the balance sheet approximate the fair value of these assets and liabilities. 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.

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 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 June 30, 2016 and for the three and six months ended June 30, 2016 and 2015 contains all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at June 30, 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 and six months ended June 30, 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 (“GAAP”) 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 the loan is placed on non-accual status until the Company receives six consecutive monthly payments. 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.
Real Estate Ground Rents	Real Estate Ground Rents Ground rents are a form of real estate ownership where the land is owned by one entity, but the improved property located on the land is owned by the homeowner. The Company's ground rents are supplemented by deeds that have been registered with Maryland State Department of Assessments and Taxation. Under Maryland law, homeowners are required to pay the ground rent owner an annual fee that is stated in the original ground rent deed. The fee is typically 6% of the original value of the land as stipulated in the deed and is paid biannually. In addition, Maryland law stipulates that ground rent owners are required to sell or redeem the ground rent to the homeowner when requested. The redemption price on the ground rent is the lesser of the annual ground rent fee divided by a statutory redemption rate, which ranges from 6% to 12%, or the contractual sales price. Maryland also limits the collection of ground rent fees to amounts due for three years or less.
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, 2014, 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)	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of carrying amount and estimated fair market value of investment securities classified as available-for-sale	June 30, 2016 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government sponsored securities: FFCB bonds $ 999 $ 5 $ — $ 1,004 Total U.S. Government sponsored securities 999 5 — 1,004 Mortgage-backed securities: FHLMC certificates 648 21 — 669 FNMA certificates 101 6 — 107 GNMA certificates 680 29 — 709 Total mortgage-backed securities 1,429 56 — 1,485 Total investments available-for-sale $ 2,428 $ 61 $ — $ 2,489 December 31, 2015 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government sponsored securities: FHLMC bonds $ 1,983 $ — $ (19 ) $ 1,964 FFCB bonds 4,991 3 (14 ) 4,980 Total U.S. Government sponsored 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	June 30, 2016 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government sponsored securities: FHLB bonds $ 5,000 $ 10 $ — $ 5,010 FNMA bonds 1,000 36 — 1,036 FFCB bonds 7,170 11 — 7,181 Total U.S. Government sponsored securities 13,170 57 — 13,227 Mortgage-backed securities: FHLMC certificates 2,593 98 — 2,691 FNMA certificates 2,366 170 — 2,536 GNMA certificates 1,943 63 — 2,006 Total mortgage backed securities 6,902 331 — 7,233 Total investments held-to-maturity $ 20,072 $ 388 $ — $ 20,460 December 31, 2015 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government sponsored securities: FHLMC bonds $ 998 $ — $ (21 ) $ 977 FNMA bonds 1,000 — (10 ) 990 FFCB bonds 3,000 — (57 ) 2,943 Total U.S. Government sponsored 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	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 sponsored securities — — 10,852 (121 ) 10,852 (121 ) Total temporarily impaired securities $ — $ — $ 11,969 $ (125 ) $ 11,969 $ (125 )
Schedule of maturities of debt securities	Amortized Cost (in thousands) Fair Value (in thousands) Due over one year through five years $ — $ — Due over five years through ten years 2,999 3,043 Due after ten years 11,170 11,188 Mortgage-backed securities 8,331 8,718 Total $ 22,500 $ 22,949

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Schedule of Loans receivable	June 30, 2016 December 31, 2015 (Dollars in thousands) (unaudited) Secured by real estate: Residential: One-to four-family $ 75,489 $ 76,632 Multi-family 2,071 2,100 Total 77,560 78,732 Non-residential 7,576 8,290 Construction and land loans 4,616 4,835 Home equity line of credit (“HELOC”) 3,740 3,695 Consumer and other loans: Loans to depositors, secured by savings 22 27 93,514 95,579 Add: Net discount on purchased loans (9 ) (9 ) Unamortized net deferred costs 19 26 Less: Undisbursed portion of construction loans (883 ) (871 ) Unearned net loan origination fees (48 ) (39 ) Less allowance for loan losses (1,227 ) (1,561 ) Loans receivable, net $ 91,366 $ 93,125
Schedule of allowance for loan losses and recorded investment	Allowance for loan losses and recorded investment in loans for the three and six months ended June 30, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance, April 1, 2016 $ 964 $ 196 $ 146 $ — $ 1,306 Charge-offs (2 ) — (81 ) — (83 ) Recoveries — — — — — Provisions (Reversals) (1 ) (17 ) 22 — 4 Ending balance, June 30, 2016 $ 961 $ 179 $ 87 $ — $ 1,227 Beginning balance, January 1, 2016 $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs (2 ) — (81 ) — (83 ) Recoveries — — — — — Provisions (Reversals) 3 (15 ) 11 (250 ) (251 ) Ending balance, June 30, 2016 $ 961 $ 179 $ 87 $ — $ 1,227 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 45 $ — $ — $ — $ 45 Ending balance: collectively evaluated for impairment $ 916 $ 179 $ 87 $ — $ 1,182 Loans: Ending balance: individually evaluated for impairment $ 3,816 $ 1,255 $ 2,411 $ — $ 7,482 Ending balance: collectively evaluated for impairment $ 77,506 $ 6,321 $ 2,205 $ — $ 86,032 Allowance for loan losses and recorded investment in loans for the three and six months ended June 30, 2015 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance, April 1, 2015 $ 1,220 $ 79 $ 174 $ 250 $ 1,723 Charge-offs (1 ) — — — (1 ) Recoveries 8 — — — 8 Provisions (Reversals) (25 ) 9 11 — (5 ) Ending balance, June 30, 2015 $ 1,202 $ 88 $ 185 $ 250 $ 1,725 Beginning balance, January 1, 2015 $ 1,228 $ 79 $ 174 $ 250 $ 1,731 Charge-offs (17 ) — — — (17 ) Recoveries 10 — — — 10 Provisions (Reversals) (19 ) 9 11 — 1 Ending balance, June 30, 2015 $ 1,202 $ 88 $ 185 $ 250 $ 1,725 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 46 $ — $ — $ — $ 46 Ending balance: collectively evaluated for impairment $ 1,158 $ 88 $ 185 $ 250 $ 1,679 Loans: Ending balance: individually evaluated for impairment $ 4,994 $ 1,948 $ 2,207 $ — $ 9,149 Ending balance: collectively evaluated for impairment $ 80,500 $ 7,312 $ 2,921 $ — $ 90,733 Allowance for loan losses and recorded investment in loans for the year ended December 31, 2015 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land 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 (Reversals) (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 June 30, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Non- Construction Total Pass $ 76,081 $ 6,138 $ 2,205 $ 84,424 Special mention 2,858 161 90 3,109 Substandard 2,383 1,277 2,321 5,981 Doubtful — — — — Loss — — — — Total $ 81,322 $ 7,576 $ 4,616 $ 93,514 Credit risk profile by internally assigned classification as of December 31, 2015 is as follows: (Dollars in thousands) Residential Non-residential Construction Total Pass $ 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 the three and for the six months ended June 30, 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 $ 2,619 $ 1,255 $ 2,411 $ 6,285 Unpaid principal balance 2,951 1,535 3,569 8,055 Average recorded investment, for the three months ended June 30, 2016 2,620 1,261 2,472 6,353 Interest income recognized 39 13 41 93 Interest income foregone 7 3 2 12 Average recorded investment, for the six months ended June 30, 2016 2,272 1,321 2,239 5,832 Interest income recognized 71 22 73 166 Interest income foregone 12 7 2 21 With an allowance recorded: Recorded investment 1,197 — — 1,197 Unpaid principal balance 1,197 — — 1,197 Related allowance 45 — — 45 Average recorded investment, for the three months ended June 30, 2016 1,200 — — 1,200 Interest income recognized 15 — — 15 Interest income foregone 1 — — 1 Average recorded investment, for the six months ended June 30, 2016 1,191 — — 1,191 Interest income recognized 23 — — 23 Interest income foregone 1 — — 1 Total Recorded investment 3,816 1,255 2,411 7,482 Unpaid principal balance 4,148 1,535 3,569 9,252 Related allowance 45 — — 45 Average recorded investment, for the three months ended June 30, 2016 3,820 1,261 2,472 7,553 Interest income recognized 54 13 41 108 Interest income foregone 8 3 2 13 Average recorded investment, for the six months ended June 30, 2016 3,463 1,321 2,239 7,023 Interest income recognized 94 22 73 189 Interest income foregone 13 7 2 22 Impaired loans as of the three and for the six months ended June 30, 2015 (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 $ 3,936 $ 1,948 $ 2,207 $ 8,091 Unpaid principal balance 4,686 1,996 3,227 9,909 Average recorded investment, for the three months ended June 30, 2015 4,035 1,957 2,212 8,204 Interest income recognized 53 10 26 89 Interest income foregone 12 12 1 25 Average recorded investment, for the six months ended June 30, 2015 4,196 1,961 2,219 8,376 Interest income recognized 110 21 54 185 Interest income foregone 26 19 3 48 With an allowance recorded: Recorded investment 1,058 — — 1,058 Unpaid principal balance 1,058 — — 1,058 Related allowance 46 — — 46 Average recorded investment, for the three months ended June 30, 2015 1,060 — — 1,060 Interest income recognized 9 — — 9 Interest income foregone — — — — Average recorded investment, for the six months ended June 30, 2015 1,064 — — 1,064 Interest income recognized 17 — — 17 Interest income foregone — — — — Total Recorded investment 4,994 1,948 2,207 9,149 Unpaid principal balance 5,744 1,996 3,227 10,967 Related allowance 46 — — 46 Average recorded investment, for the three months ended June 30, 2015 5,095 1,957 2,212 9,264 Interest income recognized 62 10 26 98 Interest income foregone 12 12 1 25 Average recorded investment, for the six months ended June 30, 2015 5,260 1,961 2,219 9,440 Interest income recognized 127 21 54 202 Interest income foregone 26 19 3 48 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 June 30, 2016 (unaudited) are as follows: (Dollars in thousands) Residential Non- Construction Total Current $ 79,292 $ 7,469 $ 4,580 $ 91,341 30 - 59 days past due 1,284 — — 1,284 60 - 89 days past due 229 — 36 265 Greater than 90 day past due and still accruing 175 — — 175 Greater than 90 days past due 342 107 — 449 Total past due 2,030 107 36 2,173 Total $ 81,322 $ 7,576 $ 4,616 $ 93,514 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 June 30, 2016 (unaudited) are as follows: (Dollars in thousands) Residential Non- Construction Total Non-accruing troubled debt restructured loans $ 420 $ 1,067 $ 37 $ 1,524 Other non-accrual loans 348 — — 348 Total non-accrual loans 768 1,067 37 1,872 Accruing troubled debt restructured loans 1,507 188 1,807 3,502 Total $ 2,275 $ 1,255 $ 1,844 $ 5,374 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	(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)	6 Months Ended
	Jun. 30, 2016
Other Real Estate [Abstract]
Schedule of activity in residential other real estate owned	June 30, 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)	6 Months Ended
	Jun. 30, 2016
Deposit Assets Disclosure [Abstract]
Schedule of deposit liabilities	June 30, 2016 December 31, 2015 (Dollars in thousands) (unaudited) Non-interest-bearing deposits $ 1,450 $ 1,758 NOW and Money market 21,386 20,591 Savings 14,481 14,721 Certificates of deposit 57,232 55,622 Total deposits $ 94,549 $ 92,692
Schedule maturities of certificates of deposit	(Dollars in thousands) 2016 $ 13,978 2017 16,438 2018 9,431 2019 6,151 2020 6,161 2021 5,073 Total $ 57,232

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	June 30, December 31, (Dollars in thousands) (unaudited) Deferred tax assets: Deferred loan fees and costs, net $ 11 $ 5 Allowance for credit losses 484 616 Deferred compensation 64 97 Allowance for ground rents 59 54 Allowance for delinquent mortgage interest 153 149 Contribution carryforward 2 2 Net operating loss carryforward 1,598 1,442 Unrealized loss on available-for-sale securities — 7 Total deferred tax assets 2,371 2,372 Valuation allowance (1,598 ) (1,442 ) Deferred tax assets after valuation allowance 773 930 Deferred tax liabilities: Depreciation 128 128 ESOP 16 9 Unrealized gain on available-for-sale securities 23 — Total deferred tax liabilities 167 137 Net deferred tax assets $ 606 $ 793
Schedule of provision for income taxes	June 30, June 30, (Dollars in thousands) (unaudited) (unaudited) Tax expense (benefit): Current federal and state $ (6 ) $ (3 ) Deferred tax 156 108 Total $ 150 $ 105
Schedule of valuation allowance for deferred taxes	For the Three Months For the Six Months 2016 2015 2016 2015 (Dollars in thousands) (unaudited) (unaudited) Balance at beginning of period $ (1,531 ) $ (936 ) $ (1,442 ) $ (843 ) Expiration of capital loss carryforwards — — — — Increase in valuation allowance (67 ) (143 ) (156 ) (236 ) Balance as of June 30 $ (1,598 ) $ (1,079 ) $ (1,598 ) $ (1,079 ) (Dollars in thousands) Valuation Allowance Balance of January 1, 2015 $ (843 ) Expiration of capital loss carryforwards 2 Increase in valuation allowance (601 ) Balance of December 31, 2015 $ (1,442 )

REGULATORY CAPITAL REQUIREMEN27

REGULATORY CAPITAL REQUIREMENTS (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2016: Total risk-based capital (to risk-weighted assets) $ 25,830 37.98 % $ 5,866 ≥8.625 % Tier I capital (to risk-weighted assets) 24,974 36.72 4,506 ≥6.625 Tier I capital (to adjusted total assets) 24,974 18.22 5,483 ≥4.000 Common equity tier 1 capital (to risk weighted assets) 24,974 36.72 3,486 > 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 >
Schedule of reconciliation of Bank's GAAP capital	June 30, December 31, (Dollars in thousands) (unaudited) Total Company equity capital $ 32,065 $ 34,881 LESS: Parent Only Equity 7,054 9,899 LESS: Net unrealized (losses) gains on available-for-sale securities 37 (11 ) Tier 1 Capital $ 24,974 $ 24,993 Tier 1 Capital $ 24,974 $ 24,993 Allowance for loan and lease losses includible in Tier 2 capital 856 904 Total risk-based capital $ 25,830 $ 25,897

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2016 (unaudited) Net unrealized gain on securities available-for-sale $ (8 ) $ 3 $ (5 ) Other Comprehensive Gain $ (8 ) $ 3 $ (5 ) Three Months Ended June 30, 2015 (unaudited) Net unrealized loss on securities available-for-sale $ (13 ) $ 5 $ (8 ) Other Comprehensive Loss $ (13 ) $ 5 $ (8 ) (Dollars in thousands) Before Tax Tax Effect Net of Tax Six Months Ended June 30, 2016 (unaudited) Net unrealized gain on securities available-for-sale $ 79 $ (31 ) $ 48 Other Comprehensive Gain $ 79 $ (31 ) $ 48 Six Months Ended June 30, 2015 (unaudited) Net unrealized loss on securities available-for-sale $ (13 ) $ 5 $ (8 ) Other Comprehensive Loss $ (13 ) $ 5 $ (8 )
Schedule of components of accumulated other comprehensive income, net of tax	(Dollars in thousands) Securities Available-for- Sale Accumulated Other Comprehensive Income Three Months Ended June 30, 2016 (unaudited) Balance at Beginning of Period $ 42 $ 42 Other comprehensive gain (5 ) (5 ) Balance at End of Period $ 37 $ 37 (Dollars in thousands) Securities Accumulated Other Six Months Ended June 30, 2016 (unaudited) Balance at Beginning of Year $ (11 ) $ (11 ) Other comprehensive gain 48 48 Balance at End of Period $ 37 $ 37 (Dollars in thousands) Securities Available-for- Sale Accumulated Other Comprehensive Income Three Months Ended June 30, 2015 (unaudited) Balance at Beginning of Period $ 15 $ 15 Other comprehensive loss (8 ) (8 ) Balance at End of Period $ 7 $ 7 (Dollars in thousands) Securities Accumulated Other Six Months Ended June 30, 2015 (unaudited) Balance at Beginning of Year $ 15 $ 15 Other comprehensive loss (8 ) (8 ) Balance at End of Period $ 7 $ 7
Schedule of reclassified out of accumulated other comprehensive income	Details about Accumulated Other Comprehensive Income Amount Reclassified Affected Line Item in the Statement June 30, June 30, (Dollars in thousands) (unaudited) Redemption of Investment Securities Available-for-Sale $ (27 ) $ — Realized gain on redemption of investment securities 9 — Provision for Income Tax $ (18 ) $ — Net loss Total Reclassifications for the Period $ (18 ) $ — Net of Tax

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of basic and diluted weighted average shares outstanding	Three Months Ended June 30, 2016 (unaudited) (Dollars in thousands, except per Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (172 ) 1,792,806 $ (0.10 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (172 ) 1,792,806 $ (0.10 ) Six Months Ended June 30, 2016 (unaudited) (Dollars in thousands, except per Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (171 ) 1,876,346 $ (0.09 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (171 ) 1,876,346 $ (0.09 ) Three Months Ended June 30, 2015 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (231 ) 1,951,420 $ (0.12 ) Diluted EPS Effect of dilutive shares - - - Net loss available to shareholders $ (231 ) 1,951,420 $ (0.12 ) Six Months Ended June 30, 2015 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) Shares Per Share Basic EPS Net loss available to shareholders $ (435 ) 1,950,018 $ (0.22 ) Diluted EPS Effect of dilutive shares - - - Net loss available to shareholders $ (435 ) 1,950,018 $ (0.22 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis	Fair Value Measurements at June 30, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value June 30, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FFCB Bonds $ 1,004 $ — $ 1,004 $ — $ — Mortgage-backed securities: FHLMC Certificates 669 — 669 — — FNMA Certificates 107 — 107 — — GNMA Certificates 709 — 709 — — Total assets measured at fair value on a recurring basis $ 2,489 $ — $ 2,489 $ — $ — 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) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : FHLMC Bonds $ 1,964 $ — $ 1,964 $ — $ — FFCB Bonds 4,980 — 4,980 — — Mortgage-backed securities: FHLMC Certificates 703 — 703 — — FNMA Certificates 123 — 123 — — GNMA Certificates 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 June 30, 2016 (unaudited) Using: Description (Dollars in thousands) Fair Value June 30, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,771 $ — $ — $ 3,771 $ — Commercial 1,255 — — 1,255 — Land 2,411 — — 2,411 — Construction — — — — — Other real estate owned — — — — — Total assets measured at fair value on a non-recurring basis $ 7,437 $ — $ — $ 7,437 $ — 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) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,143 $ — $ — $ 3,143 $ — 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 $ — $ — $ 6,413 $ (158 )
Schedule of estimated fair values of financial instruments	Carrying Value June 30, 2016 Fair Value June 30, 2016 Quoted Prices Other Significant (Dollars in thousands) (unaudited) (unaudited) ASSETS Cash, interest bearing deposits and federal funds sold $ 5,079 $ 5,079 $ 5,079 $ — $ — Other interest bearing deposits in other banks 13,137 13,137 — 13,137 — Investment securities 22,561 22,949 — 22,949 — Federal Home Loan Bank stock 673 673 — 673 — Loans, net 91,366 92,123 — — 92,123 Bank owned life insurance 921 921 — 921 — Accrued interest receivable 315 315 — 315 — LIABILITIES Deposits $ 93,096 $ 91,897 $ — $ — $ 91,897 FHLB advances 12,000 12,501 — — 12,501 Accrued interest payable 67 67 — 67 — (Dollars in thousands) Carrying Value December 31, 2015 Fair Value December 31, 2015 Quoted Prices Other Significant 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 — — 90,004 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 Accrued interest payable 68 68 — 68 —

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	1 Months Ended	6 Months Ended
	Dec. 29, 2014	Jun. 30, 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
Percentage of land fee		6.00%
Limit of ground rent fees collection		3 years
Minimum
Summary Of Significant Accounting Policies [Line Items]
Percentage of statutory redemption rate		6.00%
Maximum
Summary Of Significant Accounting Policies [Line Items]
Percentage of statutory redemption rate		12.00%

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 2,428	$ 8,499
Gross Unrealized Gains	61	18
Gross Unrealized Losses		(37)
Estimated Fair Value	2,489	8,480
U.S. Government sponsored securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	999	6,974
Gross Unrealized Gains	5	3
Gross Unrealized Losses		(33)
Estimated Fair Value	1,004	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	999	4,991
Gross Unrealized Gains	5	3
Gross Unrealized Losses		(14)
Estimated Fair Value	1,004	4,980
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,429	1,525
Gross Unrealized Gains	56	15
Gross Unrealized Losses		(4)
Estimated Fair Value	1,485	1,536
FHLMC certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	648	700
Gross Unrealized Gains	21	7
Gross Unrealized Losses		(4)
Estimated Fair Value	669	703
FNMA certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	101	117
Gross Unrealized Gains	6	6
Gross Unrealized Losses
Estimated Fair Value	107	123
GNMA certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	680	708
Gross Unrealized Gains	29	2
Gross Unrealized Losses
Estimated Fair Value	$ 709	$ 710

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 20,072	$ 9,145
Gross Unrealized Gains	388	238
Gross Unrealized Losses		(88)
EstimatedFair Value	20,460	9,295
U.S. Government sponsored securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	13,170	4,998
Gross Unrealized Gains	57
Gross Unrealized Losses		(88)
EstimatedFair Value	13,227	4,910
FHLB bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	5,000
Gross Unrealized Gains	10
Gross Unrealized Losses
EstimatedFair Value	5,010
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	36
Gross Unrealized Losses		(10)
EstimatedFair Value	1,036	990
FFCB bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	7,170	3,000
Gross Unrealized Gains	11
Gross Unrealized Losses		(57)
EstimatedFair Value	7,181	2,943
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	6,902	4,147
Gross Unrealized Gains	331	238
Gross Unrealized Losses
EstimatedFair Value	7,233	4,385
FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,593	1,156
Gross Unrealized Gains	98	78
Gross Unrealized Losses
EstimatedFair Value	2,691	1,234
FNMA certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,366	2,591
Gross Unrealized Gains	170	125
Gross Unrealized Losses
EstimatedFair Value	2,536	2,716
GNMA certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,943	400
Gross Unrealized Gains	63	35
Gross Unrealized Losses
EstimatedFair Value	$ 2,006	$ 435

INVESTMENT SECURITIES (Detail34

INVESTMENT SECURITIES (Details 2) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value
Less than 12 Months : Unrealized Losses
12 Months or More : Fair Value	11,969
12 Months or More : Unrealized Losses	(125)
Total : Fair Value	11,969
Total : Unrealized Losses	(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 sponsored securities
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value
Less than 12 Months : Unrealized Losses
12 Months or More : Fair Value	10,852
12 Months or More : Unrealized Losses	(121)
Total : Fair Value	10,852
Total : Unrealized Losses	$ (121)

INVESTMENT SECURITIES (Detail35

INVESTMENT SECURITIES (Details 3) $ in Thousands	Jun. 30, 2016USD ($)
Amortized Cost
Due over one year through five years
Due over five years through ten years	2,999
Due after ten years	11,170
Mortgage-backed securities	8,331
Total - Amortized Cost	22,500
Fair Value
Due over one year through five years
Due over five years through ten years	3,043
Due after ten years	11,188
Mortgage-backed securities	8,718
Total - Fair Value	$ 22,949

INVESTMENT SECURITIES (Detail T

INVESTMENT SECURITIES (Detail Textuals)	12 Months Ended
	Dec. 31, 2015Security
Investments, Debt and Equity Securities [Abstract]
Number of securities in a continuous unrealized loss position	11

LOANS RECEIVABLE (Details)

LOANS RECEIVABLE (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Loans and Leases Receivable Disclosure [Line Items]
Total	$ 93,514		$ 95,579
Net discount on purchased loans	(9)		(9)
Unamortized net deferred costs	19		26
Undisbursed portion of construction loans	(883)		(871)
Unearned net loan origination fees	(48)		(39)
Less allowance for loan losses	(1,227)	$ (1,306)	(1,561)	$ (1,725)	$ (1,723)	$ (1,731)
Loans receivable, net	91,366		93,125
Real estate | Residential
Loans and Leases Receivable Disclosure [Line Items]
Total	77,560		78,732
Real estate | One-to four-family
Loans and Leases Receivable Disclosure [Line Items]
Total	75,489		76,632
Real estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total	2,071		2,100
Real estate | Non-residential
Loans and Leases Receivable Disclosure [Line Items]
Total	7,576		8,290
Less allowance for loan losses	(179)	(196)	(194)	(88)	(79)	(79)
Real estate | Construction and land loans
Loans and Leases Receivable Disclosure [Line Items]
Total	4,616		4,835
Less allowance for loan losses	(87)	$ (146)	(157)	$ (185)	$ (174)	$ (174)
Real estate | Home equity line of credit ("HELOC")
Loans and Leases Receivable Disclosure [Line Items]
Total	3,740		3,695
Loans to depositors, secured by savings
Loans and Leases Receivable Disclosure [Line Items]
Total	$ 22		$ 27

LOANS RECEIVABLE (Details 1)

LOANS RECEIVABLE (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 1,306	$ 1,723	$ 1,561	$ 1,731	$ 1,731
Charge-offs	(83)	(1)	(83)	(17)	(375)
Recoveries		8		10	204
Provisions (Reversals)	4	(5)	(251)	1	1
Ending balance	1,227	1,725	1,227	1,725	1,561
Allowance for Loan Losses
Ending balance: individually evaluated for impairment	45	46	45	46	46
Ending balance: collectively evaluated for impairment	1,182	1,679	1,182	1,679	1,561
Loans:
Ending balance: individually evaluated for impairment	7,482	9,149	7,482	9,149	6,459
Ending balance: collectively evaluated for impairment	86,032	90,733	86,032	90,733	89,120
Residential Real Estate, HELOC, and Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	964	1,220	960	1,228	1,228
Charge-offs	(2)	(1)	(2)	(17)	(22)
Recoveries		8		10	29
Provisions (Reversals)	(1)	(25)	3	(19)	(275)
Ending balance	961	1,202	961	1,202	960
Allowance for Loan Losses
Ending balance: individually evaluated for impairment	45	46	45	46	46
Ending balance: collectively evaluated for impairment	916	1,158	916	1,158	914
Loans:
Ending balance: individually evaluated for impairment	3,816	4,994	3,816	4,994	3,189
Ending balance: collectively evaluated for impairment	77,506	80,500	77,506	80,500	79,265
Real estate | Non-residential
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	196	79	194	79	79
Charge-offs					(247)
Recoveries					5
Provisions (Reversals)	(17)	9	(15)	9	357
Ending balance	179	88	179	88	194
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	179	88	179	88	194
Loans:
Ending balance: individually evaluated for impairment	1,255	1,948	1,255	1,948	1,299
Ending balance: collectively evaluated for impairment	6,321	7,312	6,321	7,312	6,991
Real estate | Construction and Land
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	146	174	157	174	174
Charge-offs	(81)		(81)		(106)
Recoveries					170
Provisions (Reversals)	22	11	11	11	(81)
Ending balance	87	185	87	185	157
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	87	185	87	185	157
Loans:
Ending balance: individually evaluated for impairment	2,411	2,207	2,411	2,207	1,971
Ending balance: collectively evaluated for impairment	2,205	2,921	2,205	2,921	2,864
Unallocated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		250	250	250	250
Charge-offs
Recoveries
Provisions (Reversals)			(250)
Ending balance		250		250	250
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment		250		250	250
Loans:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment

LOANS RECEIVABLE (Details 2)

LOANS RECEIVABLE (Details 2) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Total	$ 93,514	$ 95,579
Pass
Financing Receivable, Recorded Investment [Line Items]
Total	84,424	89,716
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	3,109	1,575
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	5,981	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	81,322	82,454
Residential Real Estate, HELOC, and Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	76,081	79,697
Residential Real Estate, HELOC, and Consumer | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	2,858	1,481
Residential Real Estate, HELOC, and Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	2,383	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
Real estate | Non-residential
Financing Receivable, Recorded Investment [Line Items]
Total	7,576	8,290
Real estate | Non-residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	6,138	7,156
Real estate | Non-residential | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	161
Real estate | Non-residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	1,277	1,134
Real estate | Non-residential | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Real estate | Non-residential | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Real estate | Construction and land loans
Financing Receivable, Recorded Investment [Line Items]
Total	4,616	4,835
Real estate | Construction and land loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	2,205	2,863
Real estate | Construction and land loans | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	90	94
Real estate | Construction and land loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	2,321	1,878
Real estate | Construction and land loans | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Real estate | Construction and land loans | Loss
Financing Receivable, Recorded Investment [Line Items]
Total

LOANS RECEIVABLE (Details 3)

LOANS RECEIVABLE (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
With no related allowance recorded:
Recorded investment	$ 6,285	$ 8,091	$ 6,285	$ 8,091	$ 5,469
Unpaid principal balance	8,055	9,909	8,055	9,909	7,146
Average recorded investment	6,353	8,204	5,832	8,376	7,263
Interest income recognized	93	89	166	185	418
Interest income foregone	12	25	21	48	74
With an allowance recorded:
Recorded investment	1,197	1,058	1,197	1,058	990
Unpaid principal balance	1,197	1,058	1,197	1,058	990
Related allowance	45	46	45	46	46
Average recorded investment	1,200	1,060	1,191	1,064	880
Interest income recognized	15	9	23	17	33
Interest income foregone	1		1
Total
Recorded investment	7,482	9,149	7,482	9,149	6,459
Unpaid principal balance	9,252	10,967	9,252	10,967	8,136
Related allowance	45	46	45	46	46
Average recorded investment	7,553	9,264	7,023	9,440	8,143
Interest income recognized	108	98	189	202	451
Interest income foregone	13	25	22	48	74
Residential Real Estate, HELOC, and Consumer
With no related allowance recorded:
Recorded investment	2,619	3,936	2,619	3,936	2,199
Unpaid principal balance	2,951	4,686	2,951	4,686	2,528
Average recorded investment	2,620	4,035	2,272	4,196	3,321
Interest income recognized	39	53	71	110	270
Interest income foregone	7	12	12	26	39
With an allowance recorded:
Recorded investment	1,197	1,058	1,197	1,058	990
Unpaid principal balance	1,197	1,058	1,197	1,058	990
Related allowance	45	46	45	46	46
Average recorded investment	1,200	1,060	1,191	1,064	880
Interest income recognized	15	9	23	17	33
Interest income foregone	1		1
Total
Recorded investment	3,816	4,994	3,816	4,994	3,189
Unpaid principal balance	4,148	5,744	4,148	5,744	3,518
Related allowance	45	46	45	46	46
Average recorded investment	3,820	5,095	3,463	5,260	4,201
Interest income recognized	54	62	94	127	303
Interest income foregone	8	12	13	26	39
Real estate | Non-residential
With no related allowance recorded:
Recorded investment	1,255	1,948	1,255	1,948	1,299
Unpaid principal balance	1,535	1,996	1,535	1,996	1,570
Average recorded investment	1,261	1,957	1,321	1,961	1,766
Interest income recognized	13	10	22	21	44
Interest income foregone	3	12	7	19	28
With an allowance recorded:
Recorded investment
Unpaid principal balance
Related allowance
Average recorded investment
Interest income recognized
Interest income foregone
Total
Recorded investment	1,255	1,948	1,255	1,948	1,299
Unpaid principal balance	1,535	1,996	1,535	1,996	1,570
Related allowance
Average recorded investment	1,261	1,957	1,321	1,961	1,766
Interest income recognized	13	10	22	21	44
Interest income foregone	3	12	7	19	28
Real estate | Construction and land loans
With no related allowance recorded:
Recorded investment	2,411	2,207	2,411	2,207	1,971
Unpaid principal balance	3,569	3,227	3,569	3,227	3,048
Average recorded investment	2,472	2,212	2,239	2,219	2,176
Interest income recognized	41	26	73	54	104
Interest income foregone	2	1	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	2,411	2,207	2,411	2,207	1,971
Unpaid principal balance	3,569	3,227	3,569	3,227	3,048
Related allowance
Average recorded investment	2,472	2,212	2,239	2,219	2,176
Interest income recognized	41	26	73	54	104
Interest income foregone	$ 2	$ 1	$ 2	$ 3	$ 7

LOANS RECEIVABLE (Details 4)

LOANS RECEIVABLE (Details 4) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 91,341	$ 94,261
Greater than 90 day past due and still accruing	175
Total past due	2,173	1,318
Total	93,514	95,579
30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,284	949
60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	265	6
Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	449	363
Residential Real Estate, HELOC, and Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	79,292	81,278
Greater than 90 day past due and still accruing	175
Total past due	2,030	1,176
Total	81,322	82,454
Residential Real Estate, HELOC, and Consumer | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,284	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	342	260
Real estate | Non-residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	7,469	8,187
Greater than 90 day past due and still accruing
Total past due	107	103
Total	7,576	8,290
Real estate | Non-residential | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due
Real estate | Non-residential | 60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due
Real estate | Non-residential | Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	107	103
Real estate | Construction and land loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	4,580	4,796
Greater than 90 day past due and still accruing
Total past due	36	39
Total	4,616	4,835
Real estate | Construction and land loans | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		39
Real estate | Construction and land loans | 60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	36
Real estate | Construction and land loans | 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) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	$ 1,524	$ 1,566
Other non-accrual loans	348	294
Total non-accrual loans	1,872	1,860
Accruing troubled debt restructured loans	3,502	3,697
Total	5,374	5,557
Residential Real Estate, HELOC, and Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	420	430
Other non-accrual loans	348	294
Total non-accrual loans	768	724
Accruing troubled debt restructured loans	1,507	1,657
Total	2,275	2,381
Real estate | Non-residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	1,067	1,097
Other non-accrual loans
Total non-accrual loans	1,067	1,097
Accruing troubled debt restructured loans	188	202
Total	1,255	1,299
Real estate | Construction and land loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	37	39
Other non-accrual loans
Total non-accrual loans	37	39
Accruing troubled debt restructured loans	1,807	1,838
Total	$ 1,844	$ 1,877

LOANS RECEIVABLE (Details 6)

LOANS RECEIVABLE (Details 6) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)Contracts
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts	7
Pre-modification Outstanding Recorded Investment	$ 844
Post-modification Outstanding Recorded Investment	$ 844
Residential real estate and consumer
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts	7
Pre-modification Outstanding Recorded Investment	$ 844
Post-modification Outstanding Recorded Investment	$ 844
Real estate | Non-residential
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Pre-modification Outstanding Recorded Investment
Post-modification Outstanding Recorded Investment
Real estate | Construction and land loans
Financing Receivable, Modifications [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 ($)	Jun. 30, 2016	Dec. 31, 2015
Receivables [Abstract]
Maximum percent of 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	$ 426,000	$ 434,000
Residential real estate property for foreclosure	$ 5,000

OTHER REAL ESTATE OWNED (Detail

OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 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 (Deta46

OTHER REAL ESTATE OWNED (Detail Textuals) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Real Estate [Abstract]
Other real estate owned			$ 379

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Deposit Liabilities Disclosure [Abstract]
Non-interest-bearing deposits	$ 1,450	$ 1,758
NOW and Money market	21,386	20,591
Savings	14,481	14,721
Certificates of deposit	57,232	55,622
Total deposits	$ 94,549	$ 92,692

DEPOSITS (Details 1)

DEPOSITS (Details 1) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Deposit Liabilities Disclosure [Abstract]
2,016	$ 13,978
2,017	16,438
2,018	9,431
2,019	6,151
2,020	6,161
2,021	5,073
Total	$ 57,232	$ 55,622

DEPOSITS (Detail Textuals)

DEPOSITS (Detail Textuals) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Deposit Liabilities [Line Items]
Time deposits, $250,000 or more	$ 1,843	$ 1,575
Deposits	94,549	92,692
Executive officers and directors
Deposit Liabilities [Line Items]
Deposits	$ 534	$ 609

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Deferred tax assets:
Deferred loan fees and costs, net	$ 11	$ 5
Allowance for credit losses	484	616
Deferred compensation	64	97
Allowance for ground rents	59	54
Allowance for delinquent mortgage interest	153	149
Contribution carryforward	2	2
Net operating loss carryforward	1,598	1,442
Unrealized loss on available-for-sale securities		7
Total deferred tax assets	2,371	2,372
Valuation allowance	(1,598)	(1,442)
Deferred tax assets after valuation allowance	773	930
Deferred tax liabilities:
Depreciation	128	128
ESOP	16	9
Unrealized gain on available-for-sale securities	23
Total deferred tax liabilities	167	137
Net deferred tax assets	$ 606	$ 793

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Current federal and state			$ (6)	$ (3)
Deferred tax			156	108
Total	$ 22	$ 86	$ 150	$ 105

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Deferred Tax Assets Valuation Allowance [Roll Forward]
Beginning balance			$ (1,442)
Ending balance	$ (1,598)		(1,598)		$ (1,442)
Valuation allowance for Capital Loss Carryforwards
Deferred Tax Assets Valuation Allowance [Roll Forward]
Beginning balance	(1,531)	$ (936)	(1,442)	$ (843)	(843)
Expiration of capital loss carryforwards					2
Increase in valuation allowance	(67)	(143)	(156)	(236)	(601)
Ending balance	$ (1,598)	$ (1,079)	$ (1,598)	$ (1,079)	$ (1,442)

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	36 Months Ended
	Dec. 31, 2010	Jun. 30, 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		$ 606,000
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		$ 3,800,000

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Detail Textuals) - 2016 Equity Incentive Plan - Employees, officers and directors	May 24, 2016shares
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to be issued (in shares)	84,640
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to be issued (in shares)	211,600

REGULATORY CAPITAL REQUIREMEN55

REGULATORY CAPITAL REQUIREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Total risk-based capital (to risk-weighted assets) Amount	$ 25,830	$ 25,897
Total risk-based capital (to risk-weighted assets) Ratio	37.98%	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	$ 5,866	$ 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	$ 24,974	$ 24,993
Tier I capital (to risk-weighted assets) Ratio	36.72%	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	$ 4,506	$ 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	$ 24,974	$ 24,993
Tier I capital (to adjusted total assets) Ratio	18.22%	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	$ 5,483	$ 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	4.00%	4.00%
Common equity tier 1 capital (to risk weighted assets) Amount	$ 24,974	$ 24,993
Common equity tier 1 capital (to risk weighted assets) Ratio	36.72%	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	$ 3,486	$ 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 REQUIREMEN56

REGULATORY CAPITAL REQUIREMENTS (Details 1) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Total Company equity capital	$ 32,065	$ 34,881
LESS: Parent Only Equity	7,054	9,899
LESS: Net unrealized (losses) gains on available-for-sale securities	37	(11)
Tier 1 Capital	24,974	24,993
Tier 1 Capital	24,974	24,993
Allowance for loan and lease losses includible in Tier 2 capital	856	904
Total risk-based capital	$ 25,830	$ 25,897

OTHER COMPREHENSIVE INCOME (Det

OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Total available for sale securities before reclassification after tax	$ (8)	$ (13)	$ 79	$ (13)
Net unrealized loss on securities available-for-sale, Tax Effect	3	5	(31)	5
Net unrealized gain (loss) on securities available-for-sale, Net of Tax	(5)	(8)	48	(8)
Other Comprehensive Gain (Loss), Before Tax	(8)	(13)	79	(13)
Other Comprehensive Gain (Loss), Tax Effect	3	5	(31)	5
Other Comprehensive Gain (Loss), Net of Tax	$ (5)	$ (8)	$ 48	$ (8)

OTHER COMPREHENSIVE INCOME (D58

OTHER COMPREHENSIVE INCOME (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Period			$ (11)
Other comprehensive gain (loss)	$ (5)	$ (8)	48	$ (8)
Balance at End of Period	37		37
Securities Available-for-sale
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Period	42	15	(11)	15
Other comprehensive gain (loss)	(5)	(8)	48	(8)
Balance at End of Period	37	7	37	7
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Period	42	15	(11)	15
Other comprehensive gain (loss)	(5)	(8)	48	(8)
Balance at End of Period	$ 37	$ 7	$ 37	$ 7

OTHER COMPREHENSIVE INCOME (D59

OTHER COMPREHENSIVE INCOME (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on redemption of investment securities	$ 2		$ 27
Provision for Income Tax	22	$ 86	150	$ 105
Net of Tax	$ (172)	$ (231)	(171)	(435)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of Tax			(18)
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			(27)
Provision for Income Tax			9
Net of Tax			$ (18)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic EPS
Net loss available to shareholders	$ (172)	$ (231)	$ (171)	$ (435)
Shares (Denominator)	1,792,806	1,951,420	1,876,346	1,950,018
Basic loss earnings per share (in dollars per share)	$ (0.10)	$ (0.12)	$ (0.09)	$ (0.22)
Diluted EPS
Effect of dilutive shares, Income (Loss)
Effect of dilutive shares, Shares (Denominator)
Effect Of Dilutive Shares, Per Share Amount
Net loss available to shareholders	$ (172)	$ (231)	$ (171)	$ (435)
Shares (Denominator)	1,792,806	1,951,420	1,876,346	1,950,018
Diluted loss per share (in dollars per share)	$ (0.10)	$ (0.12)	$ (0.09)	$ (0.22)

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Investments (available-for-sale) :
Available-for-sale securities	$ 2,489	$ 8,480
Recurring basis
Mortgage backed securities:
Total Changes In Fair Values Included In Period Earnings
Total assets measured at fair value on a recurring basis	2,489	8,480
Recurring basis | FHLMC Certificates
Mortgage backed securities:
Total Changes in Fair Values Included in Period Earnings
Mortgage-backed securities	669	703
Recurring basis | FNMA Certificates
Mortgage backed securities:
Total Changes in Fair Values Included in Period Earnings
Mortgage-backed securities	107	123
Recurring basis | GNMA Certificates
Mortgage backed securities:
Total Changes in Fair Values Included in Period Earnings
Mortgage-backed securities	709	710
Recurring basis | FFCB Bonds
Investments (available-for-sale) :
Available-for-sale securities	1,004	4,980
Mortgage backed securities:
Total Changes in Fair Values Included in Period Earnings
Recurring basis | FHLMC bonds
Investments (available-for-sale) :
Available-for-sale securities		1,964
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 Certificates
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 Certificates
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | GNMA Certificates
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | FFCB Bonds
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	2,489	8,480
Recurring basis | Other Observable Inputs (Level 2) | FHLMC Certificates
Mortgage backed securities:
Mortgage-backed securities	669	703
Recurring basis | Other Observable Inputs (Level 2) | FNMA Certificates
Mortgage backed securities:
Mortgage-backed securities	107	123
Recurring basis | Other Observable Inputs (Level 2) | GNMA Certificates
Mortgage backed securities:
Mortgage-backed securities	709	710
Recurring basis | Other Observable Inputs (Level 2) | FFCB Bonds
Investments (available-for-sale) :
Available-for-sale securities	1,004	4,980
Recurring basis | Other Observable Inputs (Level 2) | FHLMC bonds
Investments (available-for-sale) :
Available-for-sale securities		1,964
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 Certificates
Investments (available-for-sale) :
Available-for-sale securities
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Significant Unobservable Inputs (Level 3) | FNMA Certificates
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Significant Unobservable Inputs (Level 3) | GNMA Certificates
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Significant Unobservable Inputs (Level 3) | FFCB Bonds
Investments (available-for-sale) :
Available-for-sale securities

FAIR VALUE MEASUREMENTS (Deta62

FAIR VALUE MEASUREMENTS (Details 1) - Fair value measurements, nonrecurring - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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]
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]
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]
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]
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]
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	7,437	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	3,771	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	1,255	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	2,411	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
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
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
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
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	7,437	6,413
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	3,771	3,143
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	1,255	1,299
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	2,411	1,971
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 (Deta63

FAIR VALUE MEASUREMENTS (Details 2) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Carrying Value
ASSETS
Cash, interest-bearing deposits and federal funds sold	$ 5,079	$ 2,924
Other interest bearing deposits in other banks	13,137	19,107
Investment securities	22,561	17,625
Federal Home Loan Bank stock	673	688
Loans, net	91,366	93,125
Bank owned life insurance	921	896
Accrued interest receivable	315	324
LIABILITIES
Deposits	93,096	92,692
FHLB Borrowings	12,000	12,000
Accrued interest payable	67	68
Fair Value
ASSETS
Cash, interest-bearing deposits and federal funds sold	5,079	2,924
Other interest bearing deposits in other banks	13,137	19,128
Investment securities	22,949	17,775
Federal Home Loan Bank stock	673	688
Loans, net	92,123	90,004
Bank owned life insurance	921	896
Accrued interest receivable	315	324
LIABILITIES
Deposits	91,897	89,354
FHLB Borrowings	12,501	12,400
Accrued interest payable	67	68
Quoted Prices In Active Markets for Identical Assets (Level 1)
ASSETS
Cash, interest-bearing deposits and federal funds sold	5,079	2,924
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
Accrued interest payable
Other Observable Inputs (Level 2)
ASSETS
Cash, interest-bearing deposits and federal funds sold
Other interest bearing deposits in other banks	13,137	19,128
Investment securities	22,949	17,775
Federal Home Loan Bank stock	673	688
Loans, net
Bank owned life insurance	921	896
Accrued interest receivable	315	324
LIABILITIES
Deposits
FHLB Borrowings
Accrued interest payable	67	68
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	92,123	90,004
Bank owned life insurance
Accrued interest receivable
LIABILITIES
Deposits	91,897	89,354
FHLB Borrowings	12,501	12,400
Accrued interest payable

FAIR VALUE MEASUREMENTS (Deta64

FAIR VALUE MEASUREMENTS (Detail Textuals) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans with a fair value reclassified from level 2 to level 3		$ 6.4
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%