MB Bancorp (MBCQ) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 10, 2017
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		1,890,200
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets:
Cash and due from banks	$ 4,598	$ 5,399
Interest bearing deposits in other banks	4,726	3,868
Total cash and cash equivalents	9,324	9,267
Other interest-bearing deposits in other banks	5,728	7,222
Investment securities available-for-sale - at fair value	12,930	3,698
Investment securities held to maturity - amortized cost	18,462	18,818
Loans, net of unearned fees	84,449	87,248
Less allowance for loan losses	(1,195)	(1,218)
Loans, net	83,254	86,030
Real estate ground rents	831	829
Less allowance for credit losses	(140)	(141)
Ground rents, net	691	688
Federal Home Loan Bank stock, at cost	626	418
Property and equipment - net	3,702	3,677
Deferred income taxes
Bank-owned life insurance	4,455	931
Accrued interest receivable and other assets	576	562
TOTAL ASSETS	139,748	131,311
LIABILITIES:
Deposits	97,741	93,015
Federal Home Loan Bank advances	11,000	7,000
Deferred compensation liability	153	170
Accounts payable and other liabilities	692	802
Total liabilities	109,586	100,987
STOCKHOLDERS' EQUITY:
Common stock .01 par value; authorized 19,000,000 shares; issued 1,892,200 and 1,902,900 shares at March 31, 2017 and December 31, 2016, respectively	19	19
Additional paid-in capital	18,049	18,132
Retained earnings - substantially restricted	13,685	13,770
Accumulated other comprehensive loss	(161)	(139)
Unearned ESOP shares	(1,430)	(1,458)
Total stockholders' equity	30,162	30,324
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 139,748	$ 131,311

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parantheticals) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
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	1,892,200	1,902,900

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
INTEREST INCOME:
Interest and fees on loans	$ 838	$ 947
Interest on federal funds sold and other investments	24	38
Interest and dividends on investment securities	197	168
Total interest income	1,059	1,153
INTEREST EXPENSE:
Interest on deposits	193	187
Interest on short-term borrowings	14
Interest on long-term borrowings	7	126
Total interest expense	214	313
NET INTEREST INCOME	845	840
(REVERSAL) PROVISION FOR LOAN LOSSES		(255)
NET INTEREST INCOME AFTER (REVERSAL) PROVISION FOR LOAN LOSSES	845	1,095
NON-INTEREST INCOME:
Service charges on deposit accounts	3	3
Fees and charges on loans	10	8
Increase in cash surrender value of life insurance	24	12
Gain on investment securities	16
Ground rent fees	12	13
Other income	28	32
Total non-interest income	93	68
NON-INTEREST EXPENSE:
Salaries and employee benefits	542	593
Occupancy expenses	114	117
Furniture and equipment expenses	9	12
Legal and professional expenses	115	66
Data processing and other outside services	75	67
FDIC insurance premiums	(6)	22
Advertising and marketing related expenses	3	8
Provision for loss on other real estate owned
Benefit for loss on ground rents	(2)	(2)
Other expenses	119	151
Total non-interest expenses	969	1,034
INCOME (LOSS) BEFORE INCOME TAXES	(31)	129
INCOME TAX EXPENSE		128
NET INCOME (LOSS)	$ (31)	$ 1
Basic earnings (loss) per share (in dollars per share)	$ (0.02)
Diluted earnings (loss) per share (in dollars per share)	$ (0.02)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (31)	$ 1
OTHER COMPREHENSIVE INCOME (LOSS) ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES:
Unrealized gains arising during the period	(6)	87
Reclassification of gain included in net income	(16)
Unrealized gains arising during the period	(22)	87
Income taxes on unrealized gains arising during the period		(34)
TOTAL COMPREHENSIVE INCOME (LOSS) ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES	(22)	53
COMPREHENSIVE INCOME (LOSS)	$ (53)	$ 54

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid In Capital	Retained Earnings	Unearned ESOP Shares	Accumulated Other Comprehensive Income (Loss)	Total
BALANCES at Dec. 31, 2015	$ 21	$ 20,158	$ 16,284	$ (1,571)	$ (11)	$ 34,881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (loss)			1			1
Net unrealized gain (loss) on available- for sale securities, net of taxes of (($34) and 0 for the period ended March 31, 2016 and March 31, 2017 respectively).					53	53
Stock-based compensation		4		29		33
BALANCES at Mar. 31, 2016	21	20,162	16,285	(1,542)	42	34,968
BALANCES at Dec. 31, 2016	19	18,132	13,770	(1,458)	(139)	30,324
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (loss)			(31)			(31)
Net unrealized gain (loss) on available- for sale securities, net of taxes of (($34) and 0 for the period ended March 31, 2016 and March 31, 2017 respectively).					(22)	(22)
Stock-based compensation		18		28		46
Repurchase of shares		(101)	(54)			(155)
BALANCES at Mar. 31, 2017	$ 19	$ 18,049	$ 13,685	$ (1,430)	$ (161)	$ 30,162

CONSOLIDATED STATEMENTS OF CHA7

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

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (31)	$ 1
Adjustment to reconcile net income (loss) to net cash used in operating activities:
Depreciation expense	31	34
Increase in cash surrender value of life insurance	(24)	(12)
Net amortization/accretion of premiums and discounts	7	(2)
(Reversal) provision for loan losses		(255)
Reversal for ground rent losses	(2)	(2)
Decrease in deferred income taxes		130
Provision for loss on other real estate owned
Non-cash compensation under stock-based benefit plan	46	33
Gain on sale of other real estate owned
Increase in accrued interest and other assets	(14)	(66)
Gain on sale of investment securities	(16)
Decrease in deferred compensation liability	(17)	(87)
(Decrease) increase in accounts payable and other liabilities	(111)	(34)
Net cash used in operating activities	(131)	(260)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net decrease (increase) in other interest bearing deposits in other banks	1,494	3,727
Purchase of available-for-sale securities	(9,677)
Proceeds from calls/repayments of available-for-sale investments	122	5,047
Proceeds from sale of available-for-sale securities	312
Purchase of held-to-maturity investments	(1,732)	(14,347)
Proceeds from maturity/repayments of held-to-maturity investments	2,086	2,207
Net decrease in loans	2,776	676
Proceeds from sale of ground rents		3
Purchase of bank-owned life insurance	(3,500)
Purchase of property, plant and equipment	(56)	(17)
Redemption of Federal Home Loan Bank stock	(208)	15
Net cash used in investing activities	(8,383)	(2,689)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	4,726	4,066
Federal Home Loan Bank advances	11,000	1,000
Federal Home Loan Bank repayments	(7,000)	(1,000)
Repurchase of common stock	(155)
Net cash provided by financing activities	8,571	4,066
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	57	1,117
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	9,267	3,721
CASH AND CASH EQUIVALENTS AT END OF YEAR	9,324	4,838
Supplemental cash flow information:
Interest paid	217	313
Income taxes paid
Noncash:
Transfer of other real estate owned to loans

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES In 2002, Bohemian American Federal Savings and Loan Association, Inc., incorporated in 1899 in the State of Maryland, merged with Madison & Bradford Federal Savings & Loan Association, incorporated in 1904 in the State of Maryland, to form Madison Bohemian Savings Bank. On September 1, 2009 Madison Bohemian Savings Bank changed its name to Madison Bank of Maryland (the “Bank”). The Bank’s principal business is providing mortgage and consumer loans in Baltimore and Harford County. The Bank also provides construction and lot loans. Significant accounting policies followed by the Bank are presented below. On August 26, 2014, the Bank’s Board of Directors approved a plan (the “Plan”) to convert from a federally-chartered mutual savings bank to a federally-chartered stock savings bank form of organization, which was subsequently approved by the Bank’s members. The Plan included the formation of MB Bancorp, Inc (the “Company”) to own all of the outstanding capital stock of the Bank. On December 29, 2014, the Bank completed its mutual-to-stock conversion. On that date, the Bank became the wholly owned subsidiary of the Company and the Company sold 2,116,000 shares of its common stock for gross offering proceeds of $21,160,000. The cost of conversion and issuing and selling the capital stock of approximately $995,000 was deducted from the proceeds of the offering. At the time of conversion, the Bank established a liquidation account in an amount equal to its retained earnings as reflected in the latest balance sheet used in the final conversion prospectus. The liquidation account will be maintained for the benefit of eligible account holders who continue to maintain their deposit accounts in the Bank after conversion. The liquidation account will be reduced annually to the extent that eligible depositors have reduced their qualifying deposits. In the event of a complete liquidation of the Bank, eligible depositors who continue to maintain accounts in accordance with Office of the Comptroller of the Currency (“OCC”) regulations will be entitled to receive a distribution from the liquidation account before any liquidation may be made with respect to the Company’s common stock. The conversion was accounted for as change in corporate form with the historic base of the Bank’s assets, liabilities and equity unchanged as a result. The Bank may not declare or pay a cash dividend if the effect thereof would cause its net worth to be reduced below either the amount required for the liquidation account discussed below or the regulatory capital requirements imposed by the OCC. Unaudited Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, the accompanying consolidated financial statements as of March 31, 2017 and for the three months ended March 31, 2017 and 2016 contains all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at March 31, 2017. 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, 2016. The results of operations and cash flows for the three months ended March 31, 2017 and 2016 are not necessarily indicative of the results to be expected for the year ended December 31, 2017. Principles of Consolidation The consolidated financial statements include the accounts of MB Bancorp, Inc. (“The Company”) and it’s wholly owned subsidiaries, Madison Bank of Maryland (“The Bank”), 1920 Rock Spring Road, LLC formed in 1998 to own and hold real estate and Mutual, LLC formed in 2011 to hold other real estate owned. All significant intercompany accounts and transactions have been eliminated. The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles and to general practices in the banking industry. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Loans Loans are stated at the principal amount outstanding net of any deferred fees and costs. Interest income on loans is accrued at the contractual rate on the principal amount outstanding. It is the Company’s policy to discontinue the accrual of interest when circumstances indicate that collection is doubtful. Direct loan origination fees, net of direct loan origination costs, are amortized or accreted over the contractual life of the loan using the interest method. Loans are considered impaired when, based on current information; it is probable that the Company will not collect all principal and interest payments according to contractual terms. Generally, loans are considered impaired once principal and interest payments are past due and they are placed on non-accrual. Management also considers the financial condition of the borrower, cash flows of the loan and the value of the related collateral. Impaired loans do not include large groups of smaller balance homogeneous credits such as residential real estate and consumer installment loans, which are evaluated collectively for impairment. Loans specifically reviewed for impairment are not considered impaired during periods of “minimal delay” in payment (usually ninety days or less) provided eventual collection of all amounts due is expected. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, the Company may measure impairment based on a loan’s observable market price or the fair value of the collateral, if the loan is collateral dependent. The Company recognizes interest income on impaired loans on a cash basis if the borrower demonstrates the ability to meet the contractual obligation and collateral is sufficient. If there is doubt regarding the borrower’s ability to make payments or the collateral is not sufficient, payments received are accounted for as a reduction in principal. A loan is considered to be a troubled debt restructured loan (“TDR”) when the Company grants a concession to the borrower that the Company would not otherwise consider to a borrower of comparable risk and placed on non-accrual status. Such concessions include the reduction of interest rates, forgiveness of all or a portion of principal or interest, extension of loan term or other modifications at interest rates that are less than the current market rate for new obligations with similar risk. If a loan is in nonaccrual status at the time we restructure it and classify the restructure as a troubled debt restructuring, it is our policy to maintain the loan as nonaccrual until we receive six consecutive monthly payments under the restructured terms. TDR loans that are in compliance with their modified terms and that yield a market rate may be removed from the TDR status after a period of one year. Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Company maintains an allowance for loan losses at an amount estimated to equal all loan losses incurred in our loan portfolio that are both probable and reasonable to estimate at a balance sheet date. The evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, and current economic conditions and trends that may affect the borrowers’ ability to pay. The allowance for loan losses represents an estimation done pursuant to either Accounting Standards Codification (“ASC”) Topic 450 “ Contingencies Receivables While management believes it has established the allowance for loan losses in accordance with generally accepted accounting principles and has taken into account the views of its regulators and the current economic environment, there can be no assurance that in the future the Bank’s regulators or the economic environment will not require further increases in the allowance. Other Real Estate Owned Real estate acquired in satisfaction of a debt is carried at fair value net of estimated selling costs. Costs incurred in maintaining foreclosed real estate and write-downs to reflect declines in the fair value of the properties after acquisition are included in noninterest expenses. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Bank, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Income Taxes The Bank uses the liability method of accounting for income taxes. Under the liability method, deferred-tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities ( i.e., ASC Topic 740, “ Income Taxes, Recognition of Deferred Tax Valuation Allowance During 2014, management established a valuation allowance for the net operating loss component of the Bank’s deferred tax assets as 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 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. As of December 31, 2016, 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 deferred tax assets and placed a full valuation allowance on all net deferred tax assets. Stock-Based Compensation The Company has stock-based incentive arrangements to attract and retain key personnel in order to promote the success of the business. In May 2016, the 2016 Equity Incentive Plan (the “2016 plan”) was approved by shareholders, which authorizes the issuance of restricted stock and stock options to the Board of Directors and key employees. Compensation cost for all stock-based awards is measured at fair value on date of grant and recognized over the vesting period on a straight-line basis. Such value is recognized as expense over the service period, net of estimated forfeitures. The estimation of stock awards that ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class and historical experience. Supplemental Executive Retirement Plans (“SERP”) The Bank has SERP’s with various former officers and directors of the Bank. The liabilities under the majority of the agreements are capped at the cash values of insurance policies that have been purchased to fund the policies. The liability for a director who has already attained retirement age has been calculated on the present value of payments under the plan. There is also life insurance to protect the Bank under this director’s plan.

IMPACT OF RECENT ACCOUNTING PRO

IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	2. IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contract with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016. I n July 2015, the FASB voted to approve deferring the effective date by one year (i.e., interim and annual reporting periods beginning after December 15, 2017). In January 2016, FASB issues ASU 2016-1, “No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, FASB issued ASU-2016-02, “ Leases (Topic 842). In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments” which updated guidance intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The updated guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires the consideration of a broader range of reasonable and supportable information to inform credit loss estimates. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The Company is currently assessing the impact of the new guidance on its condensed consolidated financial statements. In March 2017, the FASB issued SU 2017-08, “Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20)—Premium Amortization on Purchased Callable Debt Securities.” ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. ASU 2017-08 will be effective for us on December 31, 2018 and is not expected to have a significant impact on our financial statements.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	3. INVESTMENT SECURITIES The carrying amount and estimated fair market value of investment securities classified as available-for-sale are summarized as follows: March 31, 2017 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government securities $ 1,000 $ — $ (66 ) $ 934 Mortgage-backed securities: 12,094 7 (105 ) 11,996 Total investments available-for-sale $ 13,094 $ 7 $ (171 ) $ 12,930 December 31, 2016 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government securities $ 1,000 $ — $ (67 ) $ 933 Mortgage-backed securities: 2,837 10 (82 ) 2,765 Total investments available-for-sale $ 3,837 $ 10 $ (149 ) $ 3,698 The carrying amount and estimated fair market value of investment securities classified as held-to-maturity are summarized as follows: March 31, 2017 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government securities: $ 12,500 $ — $ (585 ) $ 11,915 Mortgage backed securities 5,962 153 (120 ) 5,995 Total investments held-to-maturity $ 18,462 $ 153 $ (705 ) $ 17,910 December 31, 2016 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government securities: $ 12,500 $ — $ (612 ) $ 11,888 Mortgage-backed securities: 6,318 183 (118 ) 6,383 Total U.S. Government securities $ 18,818 $ 183 $ (730 ) $ 18,271 Below are schedules of both available-for-sale and held-to-maturity securities with unrealized losses as of March 31, 2017 (unaudited) and December 31, 2016 and the length of time the individual security has been in a continuous unrealized loss position. Unrealized losses are the result of interest rate levels differing from those existing at the time of purchase of the securities and as to mortgage-backed securities, estimated prepayment speeds. At March 31, 2017 (unaudited) and December 31, 2016, these unrealized losses are considered temporary as they reflect changes in fair values and are subject to change daily as interest rates fluctuate and the Bank has the ability and intent to hold the securities until the earlier of maturity or recovery. March 31, 2017 (unaudited) Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ 11,343 $ (225 ) $ — $ — $ 11,343 $ (225 ) U.S. Government securities 12,849 (651 ) — — 12,849 (651 ) Total temporarily impaired securities $ 24,192 $ (876 ) $ — $ — $ 24,192 $ (876 ) December 31, 2016 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ 5,369 $ (200 ) $ — $ — $ 5,369 $ (200 ) U.S. Government securities 12,821 (679 ) — — 12,821 (679 ) Total temporarily impaired securities $ 18,190 $ (879 ) $ — $ — $ 18,190 $ (879 ) The scheduled maturities of debt securities at March 31, 2017 (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 3,000 2,895 Due after ten years 10,500 9,954 Mortgage-backed securities 18,056 17,991 Total $ 31,556 $ 30,840

LOANS RECEIVABLE

LOANS RECEIVABLE	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
LOANS RECEIVABLE	4. LOANS RECEIVABLE Loans receivable consist of the following: March 31, 2017 December 31, 2016 (Dollars in thousands) (unaudited) Secured by real estate: Residential: One-to four-family $ 70,665 $ 71,266 Multi-family 589 2,038 Total 71,254 73,304 Non-residential 6,938 7,021 Construction and land loans 3,622 5,104 Home equity line of credit (“HELOC”) 3,579 3,473 Commercial, Consumer and other loans: Commercial loans 345 Loans to depositors, secured by savings 16 18 85,754 88,920 Add: Net (discount) premium on purchased loans 9 10 Unamortized net deferred costs 19 16 Less: Undisbursed portion of construction loans (1,287 ) (1,650 ) Unearned net loan origination fees (46 ) (48 ) Less allowance for loan losses (1,195 ) (1,218 ) Loans receivable, net $ 83,254 $ 86,030 The risks associated with lending activities differ among the various loan types and are subject to the impact of changes in interest rates, market conditions of collateral securing the loans, and general economic conditions. All of these factors may adversely impact the borrower’s ability to repay its loans and impact the associated collateral. Residential real estate includes mortgage loans with the underlying one- to four-family or multi-family residential property (primarily owner-occupied) securing the debt. The Bank’s attempt to minimize risk exposure is minimized in these types of loans through the evaluation of the credit worthiness of the borrower, including debt-to-income ratios and underwriting standards which limit the loans-to-value ratio to generally no more than 80% unless the borrower obtains private mortgage insurance. Residential real estate also includes home equity loans and lines of credit. These present a slightly higher risk to the Bank than one-to four-family first lien mortgages as they can be first or second liens on the underlying property. These loans are generally limited with respect to loan-to-value ratios and the credit worthiness of the borrower is considered including debt-to-income ratios. Non-residential real estate includes various types of loans which have differing levels of credit risk associated with them. Owner-occupied commercial real estate loans are generally dependent upon the successful operation of the borrower’s business, with cash flows generated from the business being the primary source of loan repayment. If the business suffers a downturn in sales or profitability, the borrower’s ability to repay the loan could be in jeopardy. The Bank, attempts to minimize this credit risk through its underwriting standards which include the credit worthiness of the borrower, a limitation on loan amounts to the value of the property securing the loan, and an evaluation of debt service coverage ratios. Non-owner occupied commercial real estate loans present a different credit risk to the Bank than owner-occupied commercial real estate, as the repayment of the loan is dependent upon the borrower’s ability to generate a sufficient level of occupancy to produce rental income that exceeds debt service requirement and operating expenses. Lower occupancy or lease rates may result in a reduction in cash flows, which hinder the ability of the borrower to meet debt service requirements, and may result in lower collateral values. The Bank generally follows the same underwriting standards for these loans as with owner occupied commercial real estate, but recognizes the greater risk inherent in these credit relationships in its loan pricing. Construction and land loans consist of one- to four-family residential construction and land development loans. The risk of loss on these loans is largely dependent on the Bank’s ability to assess the property’s value at the completion of the project. During the construction phase, a number of factors could potentially negatively impact the collateral value, including cost overruns, delays in completing the project, competition and real estate market conditions which may change based on the supply of similar properties in the area. In the event the collateral value at the completion of the project is not sufficient to cover the outstanding loan balance, the Bank must rely upon other repayment sources, including the borrowers and/or guarantors of the project or other collateral securing the loan. The Bank attempts to mitigate credit risk through strict underwriting standards including evaluation of the credit worthiness of the borrowers and their success in other projects, adequate loan-to-value ratios and continual monitoring of the project during its construction phase. Consumer loans consist primarily of loans secured by the borrower’s deposit balance at the Bank. As these loans are typically 100% secured by savings and certificate of deposits, the risk of credit loss is not deemed significant. The Bank maintains an allowance for loan losses at an amount estimated to equal all loan losses incurred in our loan portfolio that are both probable and reasonable to estimate at a balance sheet date. Our determination as to the classification of our assets is subject to review by the OCC and the FDIC. We regularly review our asset portfolio to determine whether any assets require classification in accordance with applicable regulatory guidelines. The Bank provides for loan losses based upon the consistent application of our documented allowance for loan loss methodology. All loan losses are charged to the allowance for loan losses and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors which, in our judgment, deserve current recognition is estimating probable losses. We regularly review the loan portfolio and make provisions for loan losses in order to maintain the allowance for loan losses in accordance with Generally Accepted Accounting Principles (“GAAP”). The allowance for loan losses consists of two components: • Specific allowances Losses on non-modified loans are charged-off in the month the loss is measured. Non-modified loans are measured for loss at the point the loan becomes 90 to 120 days delinquent or at maturity if an extension is requested. We obtain a third party appraisal to determine the fair value of the collateral. We measure these loans for loss by using the fair value of collateral less disposition costs method and if any loss is determined it is charged off directly. Subsequently, these loans are re-evaluated at least annually by obtaining an updated third party appraisal to determine if there should be any further loss recognition. • General allowances Management’s periodic evaluation of the adequacy of the allowance is based on the Bank’s historical loan loss experience, known and inherent losses in the portfolio, adverse situations that may affect the borrower’s ability to repay, and the estimated value of any underlying collateral. The historical loss experience is further adjusted for qualitative factors which include: changes in composition of the loan portfolio, current economic conditions, trends of past due and classified loans, quality of loan review system and Board oversight, existence and effect of concentrations and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change, including the amounts and timing of future cash flows expected to be received on impaired loans. A loan is considered past due or delinquent when a contractual payment is not paid on the day it is due. Loans are generally placed on non-accrual status when they become 120 days delinquent. We may choose to consider loans from 90 to 119 days delinquent to be non-accrual, and generally do so except where a borrower has a history of periodically bringing a loan current after being 90 days or more delinquent. If the loan is less than 90 days delinquent, but information is brought to our attention that indicates the collection of interest is doubtful, the loan will immediately be considered non-accrual. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis. If the loan is deemed collateral dependent, the impairment is measured on the net realizable value of the collateral. If loan repayment is not deemed collateral dependent, impairment is measured on the net present value of the expected discounted future cash flows. The Bank charges off loans after, the loan or a portion of the loan is deemed to be a loss and the loss amount has been determined. The loss amount is charged to the established allowance for loan losses. Each loss is evaluated on its specific facts regarding the appropriate timing to recognize the loss. Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2017 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Consumer Non- residential Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance $ 973 $ 158 $ 87 $ — $ 1,218 Charge-offs (4 ) (19 ) — — (23 ) Recoveries — — — — — Provisions 79 (42 ) (37 ) — — Ending balance $ 1,048 $ 97 $ 50 $ — $ 1,195 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 38 $ — $ — — $ 38 Ending balance: collectively evaluated for impairment $ 1,010 $ 97 $ 50 $ — $ 1,157 Loans: Ending balance: individually evaluated for impairment $ 2,741 $ 1,345 $ 1,249 $ — $ 5,335 Ending balance: collectively evaluated for impairment $ 72,453 $ 5,593 $ 2,373 $ — $ 80,419 Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Consumer Non- residential Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs — — — — — Recoveries — — — — — Provisions 4 2 (11 ) (250 ) (255 ) Ending balance $ 964 $ 196 $ 146 $ — $ 1,306 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 41 $ — $ — — $ 41 Ending balance: collectively evaluated for impairment $ 923 $ 196 $ 146 $ — $ 1,265 Loans: Ending balance: individually evaluated for impairment $ 3,036 $ 1,275 $ 1,953 — $ 6,264 Ending balance: collectively evaluated for impairment $ 78,834 $ 6,655 $ 3,185 — $ 88,674 Allowance for loan losses and recorded investment in loans for the year ended December 31, 2016 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Consumer Non- Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs (4 ) — (81 ) — (85 ) Recoveries — — — — — Provisions 17 (36 ) 11 (250 ) (258 ) Ending balance $ 973 $ 158 $ 87 $ — $ 1,218 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 38 $ — $ — — $ 38 Ending balance: collectively evaluated for impairment $ 935 $ 158 $ 87 $ — $ 1,180 Loans: Ending balance: individually evaluated for impairment $ 3,772 $ 1,451 $ 2,346 — $ 7,569 Ending balance: collectively evaluated for impairment $ 73,023 $ 5,570 $ 2,758 — $ 81,351 Credit risk profile by internally assigned classification as of March 31, 2017 (unaudited) is as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-classified $ 69,225 $ 5,752 $ 2,288 $ 77,265 Special mention 3,276 — 85 3,361 Substandard 2,693 1,186 1,249 5,128 Doubtful — — — — Loss — — — — Total $ 75,194 $ 6,938 $ 3,622 $ 85,754 Credit risk profile by internally assigned classification as of December 31, 2016 is as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-classified $ 71,147 $ 5,653 $ 2,791 $ 79,591 Special mention 3,005 159 87 3,251 Substandard 2,643 1,209 2,226 6,078 Doubtful — — — — Loss — — — — Total $ 76,795 $ 7,021 $ 5,104 $ 88,920 • Special Mention • Substandard • Doubtful • Loss Impaired loans as of and for the three months ended March 31, 2017 (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 $ 2,231 $ 1,345 $ 1,249 $ 4,825 Unpaid principal balance 2,471 1,648 2,286 6,405 Average recorded investment, for the three months ended March 31, 2017 2,252 1,353 1,741 5,346 Interest income recognized 47 14 12 73 Interest income foregone 4 4 18 26 With an allowance recorded: Recorded investment 510 — — 510 Unpaid principal balance 511 — — 511 Related allowance 38 — — 38 Average recorded investment, for the three months ended March 31, 2017 513 — — 513 Interest income recognized 12 — — 12 Interest income foregone — — — — Total Recorded investment 2,741 1,345 1,249 5,335 Unpaid principal balance 2,982 1,648 2,286 6,916 Related allowance 38 — — 38 Average recorded investment, for the three months ended March 31, 2017 2,765 1,353 1,741 5,859 Interest income recognized 59 14 12 85 Interest income foregone 4 4 18 26 Impaired loans as of and for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,219 $ 1,275 $ 1,953 $ 5,447 Unpaid principal balance 2,548 1,552 3,031 7,131 Average recorded investment, for the three months ended March 31, 2016 2,320 1,382 2,006 5,708 Interest income recognized 32 9 25 66 Interest income foregone 7 3 2 12 With an allowance recorded: Recorded investment 817 — — 817 Unpaid principal balance 817 — — 817 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 696 — — 696 Interest income recognized 6 — — 6 Interest income foregone — — — — Total Recorded investment 3,036 1,275 1,953 6,264 Unpaid principal balance 3,365 1,552 3,031 7,948 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 3,016 1,382 2,006 6,404 Interest income recognized 38 9 25 72 Interest income foregone 7 3 2 12 Impaired loans as of and for the year ended December 31, 2016 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non-residential Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,633 $ 1,451 $ 2,346 $ 6,430 Unpaid principal balance 2,971 1,665 3,512 8,148 Average recorded investment, for the twelve months ended December 31, 2016 2,522 1,353 2,309 6,184 Interest income recognized 166 45 122 333 Interest income foregone 11 18 7 36 With an allowance recorded: Recorded investment 1,139 — — 1,139 Unpaid principal balance 1,140 — — 1,140 Related allowance 38 — — 38 Average recorded investment, for the twelve months ended December 31, 2016 1,151 — — 1,151 Interest income recognized 792 — — 792 Interest income foregone 50 — — 50 Total Recorded investment 3,772 1,451 2,346 7,569 Unpaid principal balance 4,111 1,665 3,512 9,288 Related allowance 38 — — 38 Average recorded investment, for the twelve months ended December 31, 2016 3,673 1,353 2,309 7,335 Interest income recognized 958 45 122 1,125 Interest income foregone 61 18 7 86 An aged analysis of past due loans as of March 31, 2017 (unaudited) is as follows: (Dollars in thousands) Residential Non-residential Construction Total Current $ 73,926 $ 6,829 $ 2,860 $ 83,615 30 – 59 days past due 373 — — 373 60 – 89 days past due 223 — — 223 Greater than 90 day past due and still accruing — — — — Greater than 90 days past due 672 109 762 1,543 Total past due 1,268 109 762 2,139 Total $ 75,194 $ 6,938 $ 3,622 $ 85,754 An aged analysis of past due loans as of December 31, 2016 are as follows: (Dollars in thousands) Residential Real Estate, HELOC, Commercial, and Consumer Non-residential Real Estate Construction Total Current $ 74,773 $ 6,912 $ 3,312 $ 84,997 30 – 59 days past due 908 — 1,792 2,700 60 – 89 days past due 433 — — 433 Greater than 90 day past due and still accruing — — — — Greater than 90 days past due 681 109 — 790 Total past due 2,022 109 1,792 3,923 Total $ 76,795 $ 7,021 $ 5,104 $ 88,920 Non-performing loans as of March 31, 2017 (unaudited) are as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-accruing troubled debt restructured loans $ 554 $ 999 $ 27 $ 1,580 Other non-accrual loans 726 — — 726 Total non-accrual loans 1,280 999 27 2,306 Accruing troubled debt restructured loans 1,159 346 761 2,266 Total $ 2,439 $ 1,345 $ 788 $ 4,572 Non-performing loans as of December 31, 2016 are as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-accruing troubled debt restructured loans $ 565 $ 1,020 $ 33 $ 1,618 Other non-accrual loans 541 — — 541 Total non-accrual loans 1,106 1,020 33 2,159 Accruing troubled debt restructured loans 1,172 348 1,760 3,280 Total $ 2,278 $ 1,368 $ 1,793 $ 5,439 Troubled debt restructurings (“TDRs”) are modifications of loans to assist borrowers who are unable to meet the original terms of their loans, in an effort to minimize the potential loss on the loan. Modifications of the loan terms includes but is not necessarily limited to: reduction of interest rates, forgiveness of all or a portion of principal or interest, extension of loan term or other modifications at interest rates that are less than the current market rate for new obligations with similar risk. If a loan is in non-accrual status at the time we restructure it and classify the restructure as a troubled debt restructuring, it is our policy to maintain the loan as nonaccrual until we receive six consecutive payments under the restructured terms. TDR loans that are in compliance with their modified terms and that yield a market rate, may be removed from the TDR status after a period of one year. The following includes loans classified as troubled debt restructurings during the three months ended March 31, 2017 (unaudited). (Dollars in thousands) Number of Contracts Pre- Outstanding Recorded Investment Post- Outstanding Recorded Investment Residential real estate, commercial, and consumer — $ — $ — Non-residential real estate — — — Construction and land — — — Total — $ — $ — The following includes loans classified as troubled debt restructurings during the three months ended March 31, 2016 (unaudited). (Dollars in thousands) Number of Contracts Pre- Outstanding Recorded Investment Post- Outstanding Recorded Investment Residential real estate, commercial, and consumer — $ — $ — Non-residential real estate — — — Construction and land — — — Total — $ — $ — The following includes loans classified as troubled debt restructures that subsequently defaulted during the year ended March 31, 2017 (unaudited). During Three Months Ended March 31, 2017 (Unaudited) (Dollars in thousands) Number of Contracts Recorded Investment TDRs that subsequently defaulted Residential real estate, commercial, and consumer $ — $ — Non-residential real estate — — Construction and land — — The following includes loans classified as troubled debt restructures that subsequently defaulted during the three months ended March 31, 2016 (unaudited). During the Three Months Ended at (Dollars in thousands) Number of Contracts Recorded Investment TDRs that subsequently defaulted Residential real estate, commercial, and consumer — $ — Non-residential real estate — — Construction and land — — Loans serviced by the Bank for the benefit of others totaled $411,000 and $422,000 at March 31, 2017 (unaudited) and December 31, 2016, respectively. There was $91,000 of consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure as of March 31, 2017 (unaudited).

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	3 Months Ended
	Mar. 31, 2017
Other Real Estate [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED The balance in other real estate owned at March 31, 2017 (unaudited) and December 31, 2016 was zero. The activity in residential other real estate owned is as follows: March 31, 2017 December 31, 2016 (Dollars in thousands) (unaudited) Beginning balance $ — $ — Additions — — Transfers from Loans — — Transfers to Loans — — Sales — — Provisions — — Ending balance $ — $ —

DEPOSITS

DEPOSITS	3 Months Ended
	Mar. 31, 2017
Deposit Liabilities Disclosure [Abstract]
DEPOSITS	6. DEPOSITS Deposits are summarized as follows: March 31, 2017 December 31, (Dollars in thousands) (unaudited) Non-interest-bearing deposits $ 1,397 $ 1,415 NOW and Money market 22,845 21,241 Savings 14,001 13,811 Certificates of deposit 59,498 56,548 Total deposits $ 97,741 $ 93,015 The aggregate amount of time deposits in denominations of $250,000 or more as of March 31, 2017 (unaudited) and December 31, 2016 was $2,003,000 and $2,724,000, respectively. Deposit amounts in excess of $250,000 generally are not insured by the Federal Deposit Insurance Corporation. At March 31, 2017 (unaudited), the schedule maturities of certificates of deposit are as follows: (Dollars in thousands) 2017 $ 18,003 2018 15,375 2019 9,678 2020 6,907 2021 7,644 2022 1,891 Total $ 59,498 Executive officers’ and directors’ deposits were $249,000 and $237,000 at March 31, 2017 (unaudited) and December 31, 2016, respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	7. INCOME TAXES The sources of deferred tax assets and liabilities and the tax effect of each are as follows: March 31, December 31, (Dollars in thousands) (unaudited) Deferred tax assets: Deferred loan fees and costs, net $ 11 $ 12 Allowance for credit losses 471 481 Deferred compensation 61 67 Severance payments 128 170 Restricted stock awards 3 2 Allowance for ground rents 55 56 Allowance for delinquent mortgage interest 144 141 Contribution carryforward 2 2 Net operating loss carryforward 1,905 1,831 Unrealized loss on available-for-sale securities — — Total deferred tax assets 2,780 2,762 Valuation allowance (2,621 ) (2,608 ) Deferred tax assets after valuation allowance 159 154 Deferred tax liabilities: Depreciation 129 130 ESOP 30 24 Total deferred tax liabilities 159 154 Net deferred tax assets $ — $ — Management evaluates deferred tax assets annually. The provision for income taxes is comprised of the following: March 31, March 31, (Dollars in thousands) (unaudited) (unaudited) Tax expense (benefit): Current federal and state $ (5 ) $ (3 ) Deferred tax 5 131 Total $ — $ 128 At March 31, 2017, the Bank had approximately $4,800,000 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 months ended March 31, 2017 (unaudited) and December 31, 2016 is as follows: (Dollars in thousands) Valuation Balance of January 1, 2016 $ (1,442 ) Expiration of capital loss carryforwards — Increase in valuation allowance (1,166 ) Balance of December 31, 2016 $ (2,608 ) Expiration of capital loss carryforwards — Increase in valuation allowance (13 ) Balance of March 31, 2017 $ (2,621 ) As of December 31, 2016 and March 31, 2017, 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, additional expenses 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 entire deferred tax asset.

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	3 Months Ended
	Mar. 31, 2017
Regulatory Capital Requirements [Abstract]
REGULATORY CAPITAL REQUIREMENTS	8. REGULATORY CAPITAL REQUIREMENTS The Bank is subject to various regulatory capital requirements administered by the Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory — and possibly additional discretionary — actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain amounts and ratios (set forth in the table below) of Total and Common Equity and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average assets. Management believes as of March 31, 2017 and December 31, 2016 that the Bank met all capital adequacy requirements to which it is subject. As of December 31, 2016, the most recent notification from the OCC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table. There are no conditions or events that management believes will adversely affect the Bank’s ability to remain in the well-capitalized category. The following table presents the Bank’s capital position based on the March 31, 2017 (unaudited) and December 31, 2016 financial statements and the current capital requirements: Actual Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio As of March 31, 2017: Total risk-based capital (to risk-weighted assets) $ 24,436 35.89 % $ 5,872 ≥8.625 % Tier I capital (to risk-weighted assets) 23,581 34.64 4,510 ≥6.625 Tier I capital (to adjusted total assets) 23,581 17.53 6,220 ≥4.625 Common equity tier 1 capital (to risk weighted assets) 23,581 34.64 3,489 > As of December 31, 2016: Total risk-based capital (to risk-weighted assets) $ 24,359 37.47 % $ 5,606 ≥8.625 % Tier I capital (to risk-weighted assets) 23,541 36.22 4,306 ≥6.625 Tier I capital (to adjusted total assets) 23,541 17.44 5,400 ≥4.625 Common equity tier 1 capital (to risk weighted assets) 23,541 36.22 3,331 > The following table presents a reconciliation of the Bank’s GAAP capital to each major category of regulatory capital for the dates indicated. March 31, December 31, (Dollars in thousands) (unaudited) Total Company equity capital $ 30,162 $ 30,324 LESS: Parent Only Equity 6,742 6,922 LESS: Net unrealized losses on available-for-sale securities (161 ) (139 ) Tier 1 Capital $ 23,581 $ 23,541 Tier 1 Capital $ 23,581 $ 23,541 Allowance for loan and lease losses includible in Tier 2 capital 855 818 Total risk-based capital $ 24,436 $ 24,359

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
OTHER COMPREHENSIVE INCOME	9. OTHER COMPREHENSIVE INCOME The following table presents the components of other comprehensive gains and losses for the three months ended March 31, 2017 and 2016 (unaudited). (Dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2017 (unaudited) Net unrealized loss on securities available-for-sale $ 161 $ - $ 161 Other Comprehensive Gain $ 161 $ - $ 161 Three Months Ended March 31, 2016 (unaudited) Net unrealized loss on securities available-for-sale $ 87 $ (34 ) $ 53 Other Comprehensive Loss $ 87 $ (34 ) $ 53 The following table presents the changes in each components of accumulated other comprehensive income, net of tax, for the three months ended March 31, 2017 and 2016 (unaudited). (Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2017 (unaudited) Balance at Beginning of Year $ (139 ) $ (139 ) Other comprehensive loss (22 ) (22 ) Balance at End of Period $ (161 ) $ (161 ) (Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2016 (unaudited) Balance at Beginning of Year $ (11 ) $ (11 ) Other comprehensive gain 53 53 Balance at End of Period $ 42 $ 42 The following table presents the amount reclassified out of accumulated other comprehensive income: Details about Accumulated Other Comprehensive Income Components Amount Reclassified Affected Line Item in the Statement Where March 31, March 31, (Dollars in thousands) (unaudited) Redemption of Investment Securities Available-for-Sale $ (16 ) $ (25 ) Realized gain on redemption of investment securities - 9 Provision for Income Tax $ (16 ) $ (16 ) Net of Tax Total Reclassifications for the Period $ (16 ) $ (16 ) Net of Tax

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	10. EARNINGS PER SHARE Basic per share amounts are based on the weighted average shares of common stock outstanding. Unearned ESOP shares are not included in outstanding shares. Diluted earnings per share assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. The basic and diluted weighted average shares outstanding for the three months ended March 31, 2017 and 2016 are as follows: Three Months Ended March 31, 2017 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) (Numerator) Shares (Denominator) Per Share Amount Basic EPS Net loss available to shareholders $ (31 ) 1,753,524 $ (0.02 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (31 ) 1,753,524 $ (0.02 ) Three Months Ended March 31, 2016 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) (Numerator) Shares (Denominator) Per Share Amount Basic EPS Net loss available to shareholders $ 1 1,959,885 $ 0.00 Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ 1 1,959,885 $ 0.00 There were no anti-dilutive shares excluded from the March 31, 2017 and 2016 diluted earnings per share calculation.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	11. FAIR VALUE MEASUREMENTS Effective January 1, 2009, the Bank adopted the Guidance in ASC Topic 820, “ Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Bank utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available-for-sale is recorded at fair value on a recurring basis. Additionally, from time to time, the Bank may be required to record at fair value all other assets on a nonrecurring basis, such as loans held for sale, loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. ASC Topic 820 establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. The fair value hierarchy is as follows: Level 1 Inputs Level 2 Inputs Level 3 Inputs The following is a description of valuation methodologies used for assets and liabilities recorded at fair value: Investment Securities Available-for-Sale. Loans. Contingencies Assets measured at fair value on a recurring basis are included in the table below: Fair Value Measurements at March 31, 2017 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : Obligations of U.S. Government Agencies $ 934 $ — $ 934 $ — $ — $ — Mortgage-backed securities 11,996 — 11,996 — — — Total assets measured at fair value on a recurring basis $ 12,930 $ — $ 12,930 $ — $ — $ — Fair Value Measurements at December 31, 2016 Using: Description (Dollars in thousands) Fair Value 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : Obligations of U.S. Government Agencies $ 933 $ — $ 933 $ — $ — $ — Mortgage-backed securities 2,765 — 2,765 — — — Total assets measured at fair value on a recurring basis $ 3,698 $ — $ 3,698 $ — $ — $ — The Bank may be required from time to time, to measure certain assets at fair value on a non-recurring basis in accordance with GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below: Fair Value Measurements at March 31, 2017 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 2,703 $ — $ 2,231 $ 472 $ — $ — Commercial 1,345 — 1,345 — — — Land 1,249 — 1,249 — — — Construction — — — — — — Other real estate owned — — — — — — Total assets measured at fair value on a non-recurring basis $ 5,297 $ — $ 4,825 $ 472 $ — $ — The significant unobservable inputs (Level 3) are determined by using the net present value of the expected discounted future cash flows methodology. Loans were modified based on the expected cash flows with modified terms and rates ranging from 3.00% to 4.00% discounted at contractual rates ranging from 5.25% to 7.375%. Fair Value Measurements at December 31, 2016 Using: Description (Dollars in thousands) Fair Value December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,734 $ — $ 2,633 $ 1,101 $ — $ — Commercial 1,451 — 1,451 — — — Land 2,346 — 2,346 — — — Construction — — — — — — Other real estate owned — — — — — — Total assets measured at fair value on a non-recurring basis $ 7,531 $ — $ 6,430 $ 1,101 $ — $ — The significant unobservable inputs (Level 3) are determined by using the net present value of the expected discounted future cash flows methodology. Loans were modified based on the expected cash flows with modified terms and rates ranging from 3.00% to 4.00% discounted at contractual rates ranging from 5.25% to 7.375%. In accordance with the disclosure requirements of ASC Topic 825, the estimated fair values of financial instruments at March 31, 2017 (unaudited) and December 31, 2016 are as follows: (Dollars in thousands) Carrying Value March 31, 2017 (unaudited) Fair Value March 31, 2017 (unaudited) Quoted Prices In Active Markets For Identical Assets (Level 1) Other Inputs (Level 2) Significant Observable Inputs (Level 3) ASSETS Cash, interest bearing deposits and federal funds sold $ 4,598 $ 4,598 $ — $ 4,598 $ — Other interest bearing deposits in other banks 10,454 10,454 — 10,454 — Investment securities 31,392 30,300 — 30,300 — Federal Home Loan Bank stock 626 626 — 626 — Loans, net 83,254 82,830 — 4.825 78.005 Bank owned life insurance 4,455 4,455 — 4,455 — Accrued interest receivable 397 397 — 397 — LIABILITIES Deposits $ 97,741 $ 95,620 $ — $ — $ 95,620 FHLB advances 11,000 10,997 — — 10,997 (Dollars in thousands) Carrying Value December 31, 2016 Fair Value December 31, 2016 Quoted Prices In Active Markets For Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Observable Inputs (Level 3) ASSETS Cash, interest bearing deposits and federal funds sold $ 5,399 $ 5,399 $ — $ 5,399 $ — Other interest bearing deposits in other banks 11,090 11,090 — 11,090 — Investment securities 22,516 21,969 — 21,969 — Federal Home Loan Bank stock 418 418 — 418 — Loans, net 86,030 85,525 — 6,430 79,095 Bank owned life insurance 931 931 — 931 — Accrued interest receivable 356 356 — 356 — LIABILITIES Deposits $ 93,015 $ 90,912 $ — $ — $ 90,912 FHLB advances 7,000 7,005 — — 7,005 The following methods and assumptions were used to estimate the fair value disclosures for financial instruments as of March 31, 2017 (unaudited) and December 31, 2016: Cash, Interest-Bearing Deposits and Federal Funds Sold and Other Interest-Bearing Deposits in Other Banks The amounts reported in the balance sheet approximate the fair value of these assets. Investment Securities The fair values are based on the quoted market prices, if available. If quoted prices are not available, fair value is measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Federal Home Loan Bank Stock The par value of Federal Home Loan Bank stock report on the balance sheet is a reasonable estimate of fair value. Accrued Interest Receivable The amounts reported in the balance sheet approximate the fair value of these assets. Loans, Deposits and Federal Home Loan Bank Advances Loans receivable were discounted using a single discount rate, comparing the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered on deposits of similar remaining maturities. The fair value of Federal Home Loan Bank advances is estimated using rates currently offered on advances of similar remaining maturities. Bank-Owned Life Insurance The amounts reported in the balance sheet approximate the fair value of these assets.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, the accompanying consolidated financial statements as of March 31, 2017 and for the three months ended March 31, 2017 and 2016 contains all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at March 31, 2017. 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, 2016. The results of operations and cash flows for the three months ended March 31, 2017 and 2016 are not necessarily indicative of the results to be expected for the year ended December 31, 2017.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of MB Bancorp, Inc. (“The Company”) and it’s wholly owned subsidiaries, Madison Bank of Maryland (“The Bank”), 1920 Rock Spring Road, LLC formed in 1998 to own and hold real estate and Mutual, LLC formed in 2011 to hold other real estate owned. All significant intercompany accounts and transactions have been eliminated. The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles and to general practices in the banking industry.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Loans	Loans Loans are stated at the principal amount outstanding net of any deferred fees and costs. Interest income on loans is accrued at the contractual rate on the principal amount outstanding. It is the Company’s policy to discontinue the accrual of interest when circumstances indicate that collection is doubtful. Direct loan origination fees, net of direct loan origination costs, are amortized or accreted over the contractual life of the loan using the interest method. Loans are considered impaired when, based on current information; it is probable that the Company will not collect all principal and interest payments according to contractual terms. Generally, loans are considered impaired once principal and interest payments are past due and they are placed on non-accrual. Management also considers the financial condition of the borrower, cash flows of the loan and the value of the related collateral. Impaired loans do not include large groups of smaller balance homogeneous credits such as residential real estate and consumer installment loans, which are evaluated collectively for impairment. Loans specifically reviewed for impairment are not considered impaired during periods of “minimal delay” in payment (usually ninety days or less) provided eventual collection of all amounts due is expected. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, the Company may measure impairment based on a loan’s observable market price or the fair value of the collateral, if the loan is collateral dependent. The Company recognizes interest income on impaired loans on a cash basis if the borrower demonstrates the ability to meet the contractual obligation and collateral is sufficient. If there is doubt regarding the borrower’s ability to make payments or the collateral is not sufficient, payments received are accounted for as a reduction in principal. A loan is considered to be a troubled debt restructured loan (“TDR”) when the Company grants a concession to the borrower that the Company would not otherwise consider to a borrower of comparable risk and placed on non-accrual status. Such concessions include the reduction of interest rates, forgiveness of all or a portion of principal or interest, extension of loan term or other modifications at interest rates that are less than the current market rate for new obligations with similar risk. If a loan is in nonaccrual status at the time we restructure it and classify the restructure as a troubled debt restructuring, it is our policy to maintain the loan as nonaccrual until we receive six consecutive monthly payments under the restructured terms. TDR loans that are in compliance with their modified terms and that yield a market rate may be removed from the TDR status after a period of one year.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Company maintains an allowance for loan losses at an amount estimated to equal all loan losses incurred in our loan portfolio that are both probable and reasonable to estimate at a balance sheet date. The evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, and current economic conditions and trends that may affect the borrowers’ ability to pay. The allowance for loan losses represents an estimation done pursuant to either Accounting Standards Codification (“ASC”) Topic 450 “ Contingencies Receivables While management believes it has established the allowance for loan losses in accordance with generally accepted accounting principles and has taken into account the views of its regulators and the current economic environment, there can be no assurance that in the future the Bank’s regulators or the economic environment will not require further increases in the allowance.
Other Real Estate Owned	Other Real Estate Owned Real estate acquired in satisfaction of a debt is carried at fair value net of estimated selling costs. Costs incurred in maintaining foreclosed real estate and write-downs to reflect declines in the fair value of the properties after acquisition are included in noninterest expenses.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Bank, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Income Taxes	Income Taxes The Bank uses the liability method of accounting for income taxes. Under the liability method, deferred-tax assets and liabilities are determined based on differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities ( i.e., ASC Topic 740, “ Income Taxes,
Recognition of Deferred Tax Valuation Allowance	Recognition of Deferred Tax Valuation Allowance During 2014, management established a valuation allowance for the net operating loss component of the Bank’s deferred tax assets as 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 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. As of December 31, 2016, 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 deferred tax assets and placed a full valuation allowance on all net deferred tax assets.
Stock-Based Compensation	Stock-Based Compensation The Company has stock-based incentive arrangements to attract and retain key personnel in order to promote the success of the business. In May 2016, the 2016 Equity Incentive Plan (the “2016 plan”) was approved by shareholders, which authorizes the issuance of restricted stock and stock options to the Board of Directors and key employees. Compensation cost for all stock-based awards is measured at fair value on date of grant and recognized over the vesting period on a straight-line basis. Such value is recognized as expense over the service period, net of estimated forfeitures. The estimation of stock awards that ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class and historical experience.
Supplemental Executive Retirement Plans ("SERP")	Supplemental Executive Retirement Plans (“SERP”) The Bank has SERP’s with various former officers and directors of the Bank. The liabilities under the majority of the agreements are capped at the cash values of insurance policies that have been purchased to fund the policies. The liability for a director who has already attained retirement age has been calculated on the present value of payments under the plan. There is also life insurance to protect the Bank under this director’s plan.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of carrying amount and estimated fair market value of investment securities classified as available-for-sale	March 31, 2017 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government securities $ 1,000 $ — $ (66 ) $ 934 Mortgage-backed securities: 12,094 7 (105 ) 11,996 Total investments available-for-sale $ 13,094 $ 7 $ (171 ) $ 12,930 December 31, 2016 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments available-for-sale: U.S. Government securities $ 1,000 $ — $ (67 ) $ 933 Mortgage-backed securities: 2,837 10 (82 ) 2,765 Total investments available-for-sale $ 3,837 $ 10 $ (149 ) $ 3,698
Schedule of carrying amount and estimated fair market value of investment securities classified as held-to-maturity	March 31, 2017 (unaudited) (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government securities: $ 12,500 $ — $ (585 ) $ 11,915 Mortgage backed securities 5,962 153 (120 ) 5,995 Total investments held-to-maturity $ 18,462 $ 153 $ (705 ) $ 17,910 December 31, 2016 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Investments held-to-maturity: U.S. Government securities: $ 12,500 $ — $ (612 ) $ 11,888 Mortgage-backed securities: 6,318 183 (118 ) 6,383 Total U.S. Government securities $ 18,818 $ 183 $ (730 ) $ 18,271
Schedule of unrealized losses are considered temporary	March 31, 2017 (unaudited) Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ 11,343 $ (225 ) $ — $ — $ 11,343 $ (225 ) U.S. Government securities 12,849 (651 ) — — 12,849 (651 ) Total temporarily impaired securities $ 24,192 $ (876 ) $ — $ — $ 24,192 $ (876 ) December 31, 2016 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-backed securities $ 5,369 $ (200 ) $ — $ — $ 5,369 $ (200 ) U.S. Government securities 12,821 (679 ) — — 12,821 (679 ) Total temporarily impaired securities $ 18,190 $ (879 ) $ — $ — $ 18,190 $ (879 )
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 3,000 2,895 Due after ten years 10,500 9,954 Mortgage-backed securities 18,056 17,991 Total $ 31,556 $ 30,840

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Schedule of Loans receivable	March 31, 2017 December 31, 2016 (Dollars in thousands) (unaudited) Secured by real estate: Residential: One-to four-family $ 70,665 $ 71,266 Multi-family 589 2,038 Total 71,254 73,304 Non-residential 6,938 7,021 Construction and land loans 3,622 5,104 Home equity line of credit (“HELOC”) 3,579 3,473 Commercial, Consumer and other loans: Commercial loans 345 Loans to depositors, secured by savings 16 18 85,754 88,920 Add: Net (discount) premium on purchased loans 9 10 Unamortized net deferred costs 19 16 Less: Undisbursed portion of construction loans (1,287 ) (1,650 ) Unearned net loan origination fees (46 ) (48 ) Less allowance for loan losses (1,195 ) (1,218 ) Loans receivable, net $ 83,254 $ 86,030
Schedule of allowance for loan losses and recorded investment	Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2017 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Consumer Non- residential Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance $ 973 $ 158 $ 87 $ — $ 1,218 Charge-offs (4 ) (19 ) — — (23 ) Recoveries — — — — — Provisions 79 (42 ) (37 ) — — Ending balance $ 1,048 $ 97 $ 50 $ — $ 1,195 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 38 $ — $ — — $ 38 Ending balance: collectively evaluated for impairment $ 1,010 $ 97 $ 50 $ — $ 1,157 Loans: Ending balance: individually evaluated for impairment $ 2,741 $ 1,345 $ 1,249 $ — $ 5,335 Ending balance: collectively evaluated for impairment $ 72,453 $ 5,593 $ 2,373 $ — $ 80,419 Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Consumer Non- residential Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs — — — — — Recoveries — — — — — Provisions 4 2 (11 ) (250 ) (255 ) Ending balance $ 964 $ 196 $ 146 $ — $ 1,306 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 41 $ — $ — — $ 41 Ending balance: collectively evaluated for impairment $ 923 $ 196 $ 146 $ — $ 1,265 Loans: Ending balance: individually evaluated for impairment $ 3,036 $ 1,275 $ 1,953 — $ 6,264 Ending balance: collectively evaluated for impairment $ 78,834 $ 6,655 $ 3,185 — $ 88,674 Allowance for loan losses and recorded investment in loans for the year ended December 31, 2016 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Consumer Non- Real Estate Construction and Land Unallocated Total Allowance for loan losses: Beginning balance $ 960 $ 194 $ 157 $ 250 $ 1,561 Charge-offs (4 ) — (81 ) — (85 ) Recoveries — — — — — Provisions 17 (36 ) 11 (250 ) (258 ) Ending balance $ 973 $ 158 $ 87 $ — $ 1,218 Allowance for loan losses: Ending balance: individually evaluated for impairment $ 38 $ — $ — — $ 38 Ending balance: collectively evaluated for impairment $ 935 $ 158 $ 87 $ — $ 1,180 Loans: Ending balance: individually evaluated for impairment $ 3,772 $ 1,451 $ 2,346 — $ 7,569 Ending balance: collectively evaluated for impairment $ 73,023 $ 5,570 $ 2,758 — $ 81,351
Schedule of Credit risk classification	Credit risk profile by internally assigned classification as of March 31, 2017 (unaudited) is as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-classified $ 69,225 $ 5,752 $ 2,288 $ 77,265 Special mention 3,276 — 85 3,361 Substandard 2,693 1,186 1,249 5,128 Doubtful — — — — Loss — — — — Total $ 75,194 $ 6,938 $ 3,622 $ 85,754 Credit risk profile by internally assigned classification as of December 31, 2016 is as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-classified $ 71,147 $ 5,653 $ 2,791 $ 79,591 Special mention 3,005 159 87 3,251 Substandard 2,643 1,209 2,226 6,078 Doubtful — — — — Loss — — — — Total $ 76,795 $ 7,021 $ 5,104 $ 88,920
Schedule of impaired loans	Impaired loans as of and for the three months ended March 31, 2017 (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 $ 2,231 $ 1,345 $ 1,249 $ 4,825 Unpaid principal balance 2,471 1,648 2,286 6,405 Average recorded investment, for the three months ended March 31, 2017 2,252 1,353 1,741 5,346 Interest income recognized 47 14 12 73 Interest income foregone 4 4 18 26 With an allowance recorded: Recorded investment 510 — — 510 Unpaid principal balance 511 — — 511 Related allowance 38 — — 38 Average recorded investment, for the three months ended March 31, 2017 513 — — 513 Interest income recognized 12 — — 12 Interest income foregone — — — — Total Recorded investment 2,741 1,345 1,249 5,335 Unpaid principal balance 2,982 1,648 2,286 6,916 Related allowance 38 — — 38 Average recorded investment, for the three months ended March 31, 2017 2,765 1,353 1,741 5,859 Interest income recognized 59 14 12 85 Interest income foregone 4 4 18 26 Impaired loans as of and for the three months ended March 31, 2016 (unaudited) is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non- Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,219 $ 1,275 $ 1,953 $ 5,447 Unpaid principal balance 2,548 1,552 3,031 7,131 Average recorded investment, for the three months ended March 31, 2016 2,320 1,382 2,006 5,708 Interest income recognized 32 9 25 66 Interest income foregone 7 3 2 12 With an allowance recorded: Recorded investment 817 — — 817 Unpaid principal balance 817 — — 817 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 696 — — 696 Interest income recognized 6 — — 6 Interest income foregone — — — — Total Recorded investment 3,036 1,275 1,953 6,264 Unpaid principal balance 3,365 1,552 3,031 7,948 Related allowance 41 — — 41 Average recorded investment, for the three months ended March 31, 2016 3,016 1,382 2,006 6,404 Interest income recognized 38 9 25 72 Interest income foregone 7 3 2 12 Impaired loans as of and for the year ended December 31, 2016 is as follows: (Dollars in thousands) Residential Real Estate, HELOC, and Non-residential Real Estate Construction and Land Total With no related allowance recorded: Recorded investment $ 2,633 $ 1,451 $ 2,346 $ 6,430 Unpaid principal balance 2,971 1,665 3,512 8,148 Average recorded investment, for the twelve months ended December 31, 2016 2,522 1,353 2,309 6,184 Interest income recognized 166 45 122 333 Interest income foregone 11 18 7 36 With an allowance recorded: Recorded investment 1,139 — — 1,139 Unpaid principal balance 1,140 — — 1,140 Related allowance 38 — — 38 Average recorded investment, for the twelve months ended December 31, 2016 1,151 — — 1,151 Interest income recognized 792 — — 792 Interest income foregone 50 — — 50 Total Recorded investment 3,772 1,451 2,346 7,569 Unpaid principal balance 4,111 1,665 3,512 9,288 Related allowance 38 — — 38 Average recorded investment, for the twelve months ended December 31, 2016 3,673 1,353 2,309 7,335 Interest income recognized 958 45 122 1,125 Interest income foregone 61 18 7 86
Schedule of aged analysis of past due loans	An aged analysis of past due loans as of March 31, 2017 (unaudited) is as follows: (Dollars in thousands) Residential Non-residential Construction Total Current $ 73,926 $ 6,829 $ 2,860 $ 83,615 30 – 59 days past due 373 — — 373 60 – 89 days past due 223 — — 223 Greater than 90 day past due and still accruing — — — — Greater than 90 days past due 672 109 762 1,543 Total past due 1,268 109 762 2,139 Total $ 75,194 $ 6,938 $ 3,622 $ 85,754 An aged analysis of past due loans as of December 31, 2016 are as follows: (Dollars in thousands) Residential Real Estate, HELOC, Commercial, and Consumer Non-residential Real Estate Construction Total Current $ 74,773 $ 6,912 $ 3,312 $ 84,997 30 – 59 days past due 908 — 1,792 2,700 60 – 89 days past due 433 — — 433 Greater than 90 day past due and still accruing — — — — Greater than 90 days past due 681 109 — 790 Total past due 2,022 109 1,792 3,923 Total $ 76,795 $ 7,021 $ 5,104 $ 88,920
Schedule of non-performing loans	Non-performing loans as of March 31, 2017 (unaudited) are as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-accruing troubled debt restructured loans $ 554 $ 999 $ 27 $ 1,580 Other non-accrual loans 726 — — 726 Total non-accrual loans 1,280 999 27 2,306 Accruing troubled debt restructured loans 1,159 346 761 2,266 Total $ 2,439 $ 1,345 $ 788 $ 4,572 Non-performing loans as of December 31, 2016 are as follows: (Dollars in thousands) Residential Non-residential Construction Total Non-accruing troubled debt restructured loans $ 565 $ 1,020 $ 33 $ 1,618 Other non-accrual loans 541 — — 541 Total non-accrual loans 1,106 1,020 33 2,159 Accruing troubled debt restructured loans 1,172 348 1,760 3,280 Total $ 2,278 $ 1,368 $ 1,793 $ 5,439
Schedule of loans classified as troubled debt restructurings	The following includes loans classified as troubled debt restructurings during the three months ended March 31, 2017 (unaudited). (Dollars in thousands) Number of Contracts Pre- Outstanding Recorded Investment Post- Outstanding Recorded Investment Residential real estate, commercial, and consumer — $ — $ — Non-residential real estate — — — Construction and land — — — Total — $ — $ — The following includes loans classified as troubled debt restructurings during the three months ended March 31, 2016 (unaudited). (Dollars in thousands) Number of Contracts Pre- Outstanding Recorded Investment Post- Outstanding Recorded Investment Residential real estate, commercial, and consumer — $ — $ — Non-residential real estate — — — Construction and land — — — Total — $ — $ —
Schedule of loans classified as troubled debt restructures subsequently defaulted	The following includes loans classified as troubled debt restructures that subsequently defaulted during the year ended March 31, 2017 (unaudited). During Three Months Ended March 31, 2017 (Unaudited) (Dollars in thousands) Number of Contracts Recorded Investment TDRs that subsequently defaulted Residential real estate, commercial, and consumer $ — $ — Non-residential real estate — — Construction and land — — The following includes loans classified as troubled debt restructures that subsequently defaulted during the three months ended March 31, 2016 (unaudited). During the Three Months Ended at (Dollars in thousands) Number of Contracts Recorded Investment TDRs that subsequently defaulted Residential real estate, commercial, and consumer — $ — Non-residential real estate — — Construction and land — —

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	3 Months Ended
	Mar. 31, 2017
Other Real Estate [Abstract]
Schedule of activity in residential other real estate owned	March 31, 2017 December 31, 2016 (Dollars in thousands) (unaudited) Beginning balance $ — $ — Additions — — Transfers from Loans — — Transfers to Loans — — Sales — — Provisions — — Ending balance $ — $ —

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
	Mar. 31, 2017
Deposit Assets Disclosure [Abstract]
Schedule of deposit liabilities	March 31, 2017 December 31, (Dollars in thousands) (unaudited) Non-interest-bearing deposits $ 1,397 $ 1,415 NOW and Money market 22,845 21,241 Savings 14,001 13,811 Certificates of deposit 59,498 56,548 Total deposits $ 97,741 $ 93,015
Schedule maturities of certificates of deposit	(Dollars in thousands) 2017 $ 18,003 2018 15,375 2019 9,678 2020 6,907 2021 7,644 2022 1,891 Total $ 59,498

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	March 31, December 31, (Dollars in thousands) (unaudited) Deferred tax assets: Deferred loan fees and costs, net $ 11 $ 12 Allowance for credit losses 471 481 Deferred compensation 61 67 Severance payments 128 170 Restricted stock awards 3 2 Allowance for ground rents 55 56 Allowance for delinquent mortgage interest 144 141 Contribution carryforward 2 2 Net operating loss carryforward 1,905 1,831 Unrealized loss on available-for-sale securities — — Total deferred tax assets 2,780 2,762 Valuation allowance (2,621 ) (2,608 ) Deferred tax assets after valuation allowance 159 154 Deferred tax liabilities: Depreciation 129 130 ESOP 30 24 Total deferred tax liabilities 159 154 Net deferred tax assets $ — $ —
Schedule of provision for income taxes	March 31, March 31, (Dollars in thousands) (unaudited) (unaudited) Tax expense (benefit): Current federal and state $ (5 ) $ (3 ) Deferred tax 5 131 Total $ — $ 128
Schedule of valuation allowance for deferred taxes	(Dollars in thousands) Valuation Balance of January 1, 2016 $ (1,442 ) Expiration of capital loss carryforwards — Increase in valuation allowance (1,166 ) Balance of December 31, 2016 $ (2,608 ) Expiration of capital loss carryforwards — Increase in valuation allowance (13 ) Balance of March 31, 2017 $ (2,621 )

REGULATORY CAPITAL REQUIREMEN26

REGULATORY CAPITAL REQUIREMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
Regulatory Capital Requirements [Abstract]
Schedule of Bank's capital position based	Actual Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio As of March 31, 2017: Total risk-based capital (to risk-weighted assets) $ 24,436 35.89 % $ 5,872 ≥8.625 % Tier I capital (to risk-weighted assets) 23,581 34.64 4,510 ≥6.625 Tier I capital (to adjusted total assets) 23,581 17.53 6,220 ≥4.625 Common equity tier 1 capital (to risk weighted assets) 23,581 34.64 3,489 > As of December 31, 2016: Total risk-based capital (to risk-weighted assets) $ 24,359 37.47 % $ 5,606 ≥8.625 % Tier I capital (to risk-weighted assets) 23,541 36.22 4,306 ≥6.625 Tier I capital (to adjusted total assets) 23,541 17.44 5,400 ≥4.625 Common equity tier 1 capital (to risk weighted assets) 23,541 36.22 3,331 >
Schedule of reconciliation of Bank's GAAP capital	March 31, December 31, (Dollars in thousands) (unaudited) Total Company equity capital $ 30,162 $ 30,324 LESS: Parent Only Equity 6,742 6,922 LESS: Net unrealized losses on available-for-sale securities (161 ) (139 ) Tier 1 Capital $ 23,581 $ 23,541 Tier 1 Capital $ 23,581 $ 23,541 Allowance for loan and lease losses includible in Tier 2 capital 855 818 Total risk-based capital $ 24,436 $ 24,359

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of components of other comprehensive gains and losses	(Dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2017 (unaudited) Net unrealized loss on securities available-for-sale $ 161 $ - $ 161 Other Comprehensive Gain $ 161 $ - $ 161 Three Months Ended March 31, 2016 (unaudited) Net unrealized loss on securities available-for-sale $ 87 $ (34 ) $ 53 Other Comprehensive Loss $ 87 $ (34 ) $ 53
Schedule of components of accumulated other comprehensive income, net of tax	(Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2017 (unaudited) Balance at Beginning of Year $ (139 ) $ (139 ) Other comprehensive loss (22 ) (22 ) Balance at End of Period $ (161 ) $ (161 ) (Dollars in thousands) Securities Accumulated Other Three Months Ended March 31, 2016 (unaudited) Balance at Beginning of Year $ (11 ) $ (11 ) Other comprehensive gain 53 53 Balance at End of Period $ 42 $ 42
Schedule of reclassified out of accumulated other comprehensive income	Details about Accumulated Other Comprehensive Income Components Amount Reclassified Affected Line Item in the Statement Where March 31, March 31, (Dollars in thousands) (unaudited) Redemption of Investment Securities Available-for-Sale $ (16 ) $ (25 ) Realized gain on redemption of investment securities - 9 Provision for Income Tax $ (16 ) $ (16 ) Net of Tax Total Reclassifications for the Period $ (16 ) $ (16 ) Net of Tax

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of basic and diluted weighted average shares outstanding	Three Months Ended March 31, 2017 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) (Numerator) Shares (Denominator) Per Share Amount Basic EPS Net loss available to shareholders $ (31 ) 1,753,524 $ (0.02 ) Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ (31 ) 1,753,524 $ (0.02 ) Three Months Ended March 31, 2016 (unaudited) (Dollars in thousands, except per share amount) Income (Loss) (Numerator) Shares (Denominator) Per Share Amount Basic EPS Net loss available to shareholders $ 1 1,959,885 $ 0.00 Diluted EPS Effect of dilutive shares — — — Net loss available to shareholders $ 1 1,959,885 $ 0.00

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis	Fair Value Measurements at March 31, 2017 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : Obligations of U.S. Government Agencies $ 934 $ — $ 934 $ — $ — $ — Mortgage-backed securities 11,996 — 11,996 — — — Total assets measured at fair value on a recurring basis $ 12,930 $ — $ 12,930 $ — $ — $ — Fair Value Measurements at December 31, 2016 Using: Description (Dollars in thousands) Fair Value 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Investments (available-for-sale) : Obligations of U.S. Government Agencies $ 933 $ — $ 933 $ — $ — $ — Mortgage-backed securities 2,765 — 2,765 — — — Total assets measured at fair value on a recurring basis $ 3,698 $ — $ 3,698 $ — $ — $ —
Schedule of fair value on a nonrecurring basis	Fair Value Measurements at March 31, 2017 (unaudited) Using: Description (Dollars in thousands) Fair Value March 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 2,703 $ — $ 2,231 $ 472 $ — $ — Commercial 1,345 — 1,345 — — — Land 1,249 — 1,249 — — — Construction — — — — — — Other real estate owned — — — — — — Total assets measured at fair value on a non-recurring basis $ 5,297 $ — $ 4,825 $ 472 $ — $ — Fair Value Measurements at December 31, 2016 Using: Description (Dollars in thousands) Fair Value December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Trading Gains and (Losses) Total Changes in Fair Values Included in Period Earnings Impaired loans: Residential $ 3,734 $ — $ 2,633 $ 1,101 $ — $ — Commercial 1,451 — 1,451 — — — Land 2,346 — 2,346 — — — Construction — — — — — — Other real estate owned — — — — — — Total assets measured at fair value on a non-recurring basis $ 7,531 $ — $ 6,430 $ 1,101 $ — $ —
Schedule of estimated fair values of financial instruments	(Dollars in thousands) Carrying Value March 31, 2017 (unaudited) Fair Value March 31, 2017 (unaudited) Quoted Prices In Active Markets For Identical Assets (Level 1) Other Inputs (Level 2) Significant Observable Inputs (Level 3) ASSETS Cash, interest bearing deposits and federal funds sold $ 4,598 $ 4,598 $ — $ 4,598 $ — Other interest bearing deposits in other banks 10,454 10,454 — 10,454 — Investment securities 31,392 30,300 — 30,300 — Federal Home Loan Bank stock 626 626 — 626 — Loans, net 83,254 82,830 — 4.825 78.005 Bank owned life insurance 4,455 4,455 — 4,455 — Accrued interest receivable 397 397 — 397 — LIABILITIES Deposits $ 97,741 $ 95,620 $ — $ — $ 95,620 FHLB advances 11,000 10,997 — — 10,997 (Dollars in thousands) Carrying Value December 31, 2016 Fair Value December 31, 2016 Quoted Prices In Active Markets For Identical Assets (Level 1) Other Observable Inputs (Level 2) Significant Observable Inputs (Level 3) ASSETS Cash, interest bearing deposits and federal funds sold $ 5,399 $ 5,399 $ — $ 5,399 $ — Other interest bearing deposits in other banks 11,090 11,090 — 11,090 — Investment securities 22,516 21,969 — 21,969 — Federal Home Loan Bank stock 418 418 — 418 — Loans, net 86,030 85,525 — 6,430 79,095 Bank owned life insurance 931 931 — 931 — Accrued interest receivable 356 356 — 356 — LIABILITIES Deposits $ 93,015 $ 90,912 $ — $ — $ 90,912 FHLB advances 7,000 7,005 — — 7,005

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	1 Months Ended	3 Months Ended
	Dec. 29, 2014	Mar. 31, 2017
Summary Of Significant Accounting Policies [Line Items]
Number of shares sold	2,116,000
Gross offering proceeds	$ 21,160,000
Cost of conversion and issuing and selling capital stock		$ 995,000

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 13,094	$ 3,837
Gross Unrealized Gains	7	10
Gross Unrealized Losses	(171)	(149)
Estimated Fair Value	12,930	3,698
U.S. Government sponsored securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,000	1,000
Gross Unrealized Gains
Gross Unrealized Losses	(66)	(67)
Estimated Fair Value	934	933
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12,094	2,837
Gross Unrealized Gains	7	10
Gross Unrealized Losses	(105)	(82)
Estimated Fair Value	$ 11,996	$ 2,765

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 18,462	$ 18,818
Gross Unrealized Gains	153	183
Gross Unrealized Losses	(705)	(730)
EstimatedFair Value	17,910	18,271
U.S. Government sponsored securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	12,500	12,500
Gross Unrealized Gains
Gross Unrealized Losses	(585)	(612)
EstimatedFair Value	11,915	11,888
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	5,962	6,318
Gross Unrealized Gains	153	183
Gross Unrealized Losses	(120)	(118)
EstimatedFair Value	$ 5,995	$ 6,383

INVESTMENT SECURITIES (Detail33

INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value	$ 24,192	$ 18,190
Less than 12 Months : Unrealized Losses	(876)	(879)
12 Months or More : Fair Value
12 Months or More : Unrealized Losses
Total : Fair Value	24,192	18,190
Total : Unrealized Losses	(876)	(879)
Mortgage-backed securities
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value	11,343	5,369
Less than 12 Months : Unrealized Losses	(225)	(200)
12 Months or More : Fair Value
12 Months or More : Unrealized Losses
Total : Fair Value	11,343	5,369
Total : Unrealized Losses	(225)	(200)
U.S. Government sponsored securities
Schedule of Investments [Line Items]
Less than 12 Months : Fair Value	12,849	12,821
Less than 12 Months : Unrealized Losses	(651)	(679)
12 Months or More : Fair Value
12 Months or More : Unrealized Losses
Total : Fair Value	12,849	12,821
Total : Unrealized Losses	$ (651)	$ (679)

INVESTMENT SECURITIES (Detail34

INVESTMENT SECURITIES (Details 3) $ in Thousands	Mar. 31, 2017USD ($)
Amortized Cost
Due over one year through five years
Due over five years through ten years	3,000
Due after ten years	10,500
Mortgage-backed securities	18,056
Total - Amortized Cost	31,556
Fair Value
Due over one year through five years
Due over five years through ten years	2,895
Due after ten years	9,954
Mortgage-backed securities	17,991
Total - Fair Value	$ 30,840

LOANS RECEIVABLE (Details)

LOANS RECEIVABLE (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable Disclosure [Line Items]
Total	$ 85,754	$ 88,920
Net (discount) premium on purchased loans	9	10
Unamortized net deferred costs	19	16
Undisbursed portion of construction loans	(1,287)	(1,650)
Unearned net loan origination fees	(46)	(48)
Less allowance for loan losses	(1,195)	(1,218)	$ (1,306)	$ (1,561)
Loans receivable, net	83,254	86,030
Commercial loans
Loans and Leases Receivable Disclosure [Line Items]
Total	345
Loans to depositors, secured by savings
Loans and Leases Receivable Disclosure [Line Items]
Total	16	18
Real estate | Residential
Loans and Leases Receivable Disclosure [Line Items]
Total	71,254	73,304
Real estate | One-to four-family
Loans and Leases Receivable Disclosure [Line Items]
Total	70,665	71,266
Real estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total	589	2,038
Real estate | Non-residential
Loans and Leases Receivable Disclosure [Line Items]
Total	6,938	7,021
Less allowance for loan losses	(97)	(158)	(196)	(194)
Real estate | Construction and Land
Loans and Leases Receivable Disclosure [Line Items]
Total	3,622	5,104
Less allowance for loan losses	(50)	(87)	$ (146)	$ (157)
Real estate | Home equity line of credit ("HELOC")
Loans and Leases Receivable Disclosure [Line Items]
Total	$ 3,579	$ 3,473

LOANS RECEIVABLE (Details 1)

LOANS RECEIVABLE (Details 1) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 1,218	$ 1,561	$ 1,561
Charge-offs	(23)		(85)
Recoveries
Provisions (Reversals)		(255)	(258)
Ending balance	1,195	1,306	1,218
Allowance for Loan Losses
Ending balance: individually evaluated for impairment	38	41	38
Ending balance: collectively evaluated for impairment	1,157	1,265	1,180
Loans:
Ending balance: individually evaluated for impairment	5,335	6,264	7,569
Ending balance: collectively evaluated for impairment	80,419	88,674	81,351
Residential Real Estate, HELOC, Commercial, and Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	973	960	960
Charge-offs	(4)		(4)
Recoveries
Provisions (Reversals)	79	4	17
Ending balance	1,048	964	973
Allowance for Loan Losses
Ending balance: individually evaluated for impairment	38	41	38
Ending balance: collectively evaluated for impairment	1,010	923	935
Loans:
Ending balance: individually evaluated for impairment	2,741	3,036	3,772
Ending balance: collectively evaluated for impairment	72,453	78,834	73,023
Real estate | Non-residential
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	158	194	194
Charge-offs	(19)
Recoveries
Provisions (Reversals)	(42)	2	(36)
Ending balance	97	196	158
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	97	196	158
Loans:
Ending balance: individually evaluated for impairment	1,345	1,275	1,451
Ending balance: collectively evaluated for impairment	5,593	6,655	5,570
Real estate | Construction and Land
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	87	157	157
Charge-offs			(81)
Recoveries
Provisions (Reversals)	(37)	(11)	11
Ending balance	50	146	87
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	50	146	87
Loans:
Ending balance: individually evaluated for impairment	1,249	1,953	2,346
Ending balance: collectively evaluated for impairment	2,373	3,185	2,758
Unallocated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		250	250
Charge-offs
Recoveries
Provisions (Reversals)		(250)	(250)
Ending balance
Allowance for Loan Losses
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment
Loans:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment

LOANS RECEIVABLE (Details 2)

LOANS RECEIVABLE (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Total	$ 85,754	$ 88,920
Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	77,265	79,591
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	3,361	3,251
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	5,128	6,078
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Residential Real Estate, HELOC, Commercial, and Consumer
Financing Receivable, Recorded Investment [Line Items]
Total	75,194	76,795
Residential Real Estate, HELOC, Commercial, and Consumer | Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	69,225	71,147
Residential Real Estate, HELOC, Commercial, and Consumer | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	3,276	3,005
Residential Real Estate, HELOC, Commercial, and Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	2,693	2,643
Residential Real Estate, HELOC, Commercial, and Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Residential Real Estate, HELOC, Commercial, and Consumer | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Real estate | Non-residential
Financing Receivable, Recorded Investment [Line Items]
Total	6,938	7,021
Real estate | Non-residential | Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	5,752	5,653
Real estate | Non-residential | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total		159
Real estate | Non-residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	1,186	1,209
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
Financing Receivable, Recorded Investment [Line Items]
Total	3,622	5,104
Real estate | Construction and Land | Non-classified
Financing Receivable, Recorded Investment [Line Items]
Total	2,288	2,791
Real estate | Construction and Land | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	85	87
Real estate | Construction and Land | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	1,249	2,226
Real estate | Construction and Land | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Real estate | Construction and Land | Loss
Financing Receivable, Recorded Investment [Line Items]
Total

LOANS RECEIVABLE (Details 3)

LOANS RECEIVABLE (Details 3) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
With no related allowance recorded:
Recorded investment	$ 4,825	$ 5,447	$ 6,430
Unpaid principal balance	6,405	7,131	8,148
Average recorded investment	5,346	5,708	6,184
Interest income recognized	73	66	333
Interest income foregone	26	12	36
With an allowance recorded:
Recorded investment	510	817	1,139
Unpaid principal balance	511	817	1,140
Related allowance	38	41	38
Average recorded investment	513	696	1,151
Interest income recognized	12	6	792
Interest income foregone			50
Total
Recorded investment	5,335	6,264	7,569
Unpaid principal balance	6,916	7,948	9,288
Related allowance	38	41	38
Average recorded investment	5,859	6,404	7,335
Interest income recognized	85	72	1,125
Interest income foregone	26	12	86
Residential Real Estate, HELOC, Commercial, and Consumer
With no related allowance recorded:
Recorded investment	2,231	2,219	2,633
Unpaid principal balance	2,471	2,548	2,971
Average recorded investment	2,252	2,320	2,522
Interest income recognized	47	32	166
Interest income foregone	4	7	11
With an allowance recorded:
Recorded investment	510	817	1,139
Unpaid principal balance	511	817	1,140
Related allowance	38	41	38
Average recorded investment	513	696	1,151
Interest income recognized	12	6	792
Interest income foregone			50
Total
Recorded investment	2,741	3,036	3,772
Unpaid principal balance	2,982	3,365	4,111
Related allowance	38	41	38
Average recorded investment	2,765	3,016	3,673
Interest income recognized	59	38	958
Interest income foregone	4	7	61
Real estate | Non-residential
With no related allowance recorded:
Recorded investment	1,345	1,275	1,451
Unpaid principal balance	1,648	1,552	1,665
Average recorded investment	1,353	1,382	1,353
Interest income recognized	14	9	45
Interest income foregone	4	3	18
With an allowance recorded:
Recorded investment
Unpaid principal balance
Related allowance
Average recorded investment
Interest income recognized
Interest income foregone
Total
Recorded investment	1,345	1,275	1,451
Unpaid principal balance	1,648	1,552	1,665
Related allowance
Average recorded investment	1,353	1,382	1,353
Interest income recognized	14	9	45
Interest income foregone	4	3	18
Real estate | Construction and Land
With no related allowance recorded:
Recorded investment	1,249	1,953	2,346
Unpaid principal balance	2,286	3,031	3,512
Average recorded investment	1,741	2,006	2,309
Interest income recognized	12	25	122
Interest income foregone	18	2	7
With an allowance recorded:
Recorded investment
Unpaid principal balance
Related allowance
Average recorded investment
Interest income recognized
Interest income foregone
Total
Recorded investment	1,249	1,953	2,346
Unpaid principal balance	2,286	3,031	3,512
Related allowance
Average recorded investment	1,741	2,006	2,309
Interest income recognized	12	25	122
Interest income foregone	$ 18	$ 2	$ 7

LOANS RECEIVABLE (Details 4)

LOANS RECEIVABLE (Details 4) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 83,615	$ 84,997
Greater than 90 day past due and still accruing
Total past due	2,139	3,923
Total	85,754	88,920
30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	373	2,700
60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	223	433
Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,543	790
Residential Real Estate, HELOC, Commercial, and Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	73,926	74,773
Greater than 90 day past due and still accruing
Total past due	1,268	2,022
Total	75,194	76,795
Residential Real Estate, HELOC, Commercial, and Consumer | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	373	908
Residential Real Estate, HELOC, Commercial, and Consumer | 60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	223	433
Residential Real Estate, HELOC, Commercial, and Consumer | Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	672	681
Real estate | Non-residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	6,829	6,912
Greater than 90 day past due and still accruing
Total past due	109	109
Total	6,938	7,021
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	109	109
Real estate | Construction and Land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	2,860	3,312
Greater than 90 day past due and still accruing
Total past due	762	1,792
Total	3,622	5,104
Real estate | Construction and Land | 30 - 59 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		1,792
Real estate | Construction and Land | 60 - 89 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due
Real estate | Construction and Land | Greater than 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 762

LOANS RECEIVABLE (Details 5)

LOANS RECEIVABLE (Details 5) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	$ 1,580	$ 1,618
Other non-accrual loans	726	541
Total non-accrual loans	2,306	2,159
Accruing troubled debt restructured loans	2,266	3,280
Total	4,572	5,439
Residential Real Estate, HELOC, Commercial, and Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	554	565
Other non-accrual loans	726	541
Total non-accrual loans	1,280	1,106
Accruing troubled debt restructured loans	1,159	1,172
Total	2,439	2,278
Real estate | Non-residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	999	1,020
Other non-accrual loans
Total non-accrual loans	999	1,020
Accruing troubled debt restructured loans	346	348
Total	1,345	1,368
Real estate | Construction and Land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accruing troubled debt restructured loans	27	33
Other non-accrual loans
Total non-accrual loans	27	33
Accruing troubled debt restructured loans	761	1,760
Total	$ 788	$ 1,793

LOANS RECEIVABLE (Details 6)

LOANS RECEIVABLE (Details 6)	3 Months Ended
	Mar. 31, 2017USD ($)Contracts	Mar. 31, 2016USD ($)Contracts
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Pre-modification Outstanding Recorded Investment
Post-modification Outstanding Recorded Investment
Residential real estate, commercial, and consumer
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Pre-modification Outstanding Recorded Investment
Post-modification Outstanding Recorded Investment
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
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Pre-modification Outstanding Recorded Investment
Post-modification Outstanding Recorded Investment

LOANS RECEIVABLE (Details 7)

LOANS RECEIVABLE (Details 7)	3 Months Ended
	Mar. 31, 2017USD ($)Contracts	Mar. 31, 2016USD ($)Contracts
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Recorded Investment | $
Residential real estate, commercial, and consumer
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Recorded Investment | $
Real estate | Non-residential
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Recorded Investment | $
Real estate | Construction and Land
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contracts
Recorded Investment | $

LOANS RECEIVABLE (Detail Textua

LOANS RECEIVABLE (Detail Textuals) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
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	$ 411,000	$ 422,000
Residential real estate property for foreclosure	$ 91,000

OTHER REAL ESTATE OWNED (Detail

OTHER REAL ESTATE OWNED (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Other Real Estate [Roll Forward]
Beginning balance
Additions
Transfers from Loans
Transfers to Loans
Sales
Provisions
Ending balance

OTHER REAL ESTATE OWNED (Deta45

OTHER REAL ESTATE OWNED (Detail Textuals) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Real Estate [Abstract]
Other real estate owned

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Deposit Liabilities Disclosure [Abstract]
Non-interest-bearing deposits	$ 1,397	$ 1,415
NOW and Money market	22,845	21,241
Savings	14,001	13,811
Certificates of deposit	59,498	56,548
Total deposits	$ 97,741	$ 93,015

DEPOSITS (Details 1)

DEPOSITS (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Deposit Liabilities Disclosure [Abstract]
2,017	$ 18,003
2,018	15,375
2,019	9,678
2,020	6,907
2,021	7,644
2,022	1,891
Total	$ 59,498	$ 56,548

DEPOSITS (Detail Textuals)

DEPOSITS (Detail Textuals) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Deposit Liabilities [Line Items]
Time deposits, $250,000 or more	$ 2,003,000	$ 2,724,000
Deposits	97,741,000	93,015,000
Executive officers and directors
Deposit Liabilities [Line Items]
Deposits	$ 249,000	$ 237,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Deferred loan fees and costs, net	$ 11	$ 12
Allowance for credit losses	471	481
Deferred compensation	61	67
Severance payments	128	170
Restricted stock awards	3	2
Allowance for ground rents	55	56
Allowance for delinquent mortgage interest	144	141
Contribution carryforward	2	2
Net operating loss carryforward	1,905	1,831
Unrealized loss on available-for-sale securities
Total deferred tax assets	2,780	2,762
Valuation allowance	(2,621)	(2,608)
Deferred tax assets after valuation allowance	159	154
Deferred tax liabilities:
Depreciation	129	130
ESOP	30	24
Total deferred tax liabilities	159	154
Net deferred tax assets

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Tax expense (benefit):
Current federal and state	$ (5)	$ (3)
Deferred tax	5	131
Total		$ 128

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Deferred Tax Assets Valuation Allowance [Roll Forward]
Balance at beginning of period	$ (2,608)
Ending balance	(2,621)	$ (2,608)
Valuation allowance for Capital Loss Carryforwards
Deferred Tax Assets Valuation Allowance [Roll Forward]
Balance at beginning of period	(2,608)	(1,442)
Expiration of capital loss carryforwards
Increase in valuation allowance	(13)	(1,166)
Ending balance	$ (2,621)	$ (2,608)

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals)	Mar. 31, 2017USD ($)
Federal and state
Operating Loss Carryforwards [Line Items]
Federal and state net operating loss carryforwards	$ 4,800,000

REGULATORY CAPITAL REQUIREMEN53

REGULATORY CAPITAL REQUIREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Regulatory Capital Requirements [Abstract]
Total risk-based capital (to risk-weighted assets) Amount	$ 24,436	$ 24,359
Total risk-based capital (to risk-weighted assets) Ratio	35.89%	37.47%
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	$ 5,872	$ 5,606
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%	8.625%
Tier I capital (to risk-weighted assets) Amount	$ 23,581	$ 23,541
Tier I capital (to risk-weighted assets) Ratio	34.64%	36.22%
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	$ 4,510	$ 4,306
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%	6.625%
Tier I capital (to adjusted total assets) Amount	$ 23,581	$ 23,541
Tier I capital (to adjusted total assets) Ratio	17.53%	17.44%
Tier I capital (to adjusted total assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Amount	$ 6,220	$ 5,400
Tier I capital (to adjusted total assets) Minimum Requirements for Capital Adequacy Purposes and to be Adequately Capitalized Under the Prompt Corrective Action Provisions, Ratio	4.625%	4.625%
Common equity tier 1 capital (to risk weighted assets) Amount	$ 23,581	$ 23,541
Common equity tier 1 capital (to risk weighted assets) Ratio	34.64%	36.22%
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	$ 3,489	$ 3,331
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%	5.125%

REGULATORY CAPITAL REQUIREMEN54

REGULATORY CAPITAL REQUIREMENTS (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Regulatory Capital Requirements [Abstract]
Total Company equity capital	$ 30,162	$ 30,324
LESS: Parent Only Equity	6,742	6,922
LESS: Net unrealized losses on available-for-sale securities	(161)	(139)
Tier 1 Capital	23,581	23,541
Tier 1 Capital	23,581	23,541
Allowance for loan and lease losses includible in Tier 2 capital	855	818
Total risk-based capital	$ 24,436	$ 24,359

OTHER COMPREHENSIVE INCOME (Det

OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net unrealized gain (loss) on securities available-for-sale, Before Tax	$ (6)	$ 87
Net unrealized loss on securities available-for-sale, Tax Effect		(34)
Net unrealized gain (loss) on securities available-for-sale, Net of Tax	161	53
Other Comprehensive Gain (Loss), Before Tax	161	87
Other Comprehensive Gain (Loss), Tax Effect		(34)
Other Comprehensive Gain (Loss), Net of Tax	$ 161	$ 53

OTHER COMPREHENSIVE INCOME (D56

OTHER COMPREHENSIVE INCOME (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Period	$ (139)
Other comprehensive gain (loss)	(22)	$ 53
Balance at End of Period	(161)
Securities Available-for-sale
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Period	(139)	(11)
Other comprehensive gain (loss)	(22)	53
Balance at End of Period	(161)	42
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at Beginning of Period	(139)	(11)
Other comprehensive gain (loss)	(22)	53
Balance at End of Period	$ (161)	$ 42

OTHER COMPREHENSIVE INCOME (D57

OTHER COMPREHENSIVE INCOME (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on redemption of investment securities	$ 16
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of Tax	(16)	$ (16)
Reclassification out of Accumulated Other Comprehensive Income | Redemption of Investment Securities Available-for-sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on redemption of investment securities	(16)	(25)
Provision for Income Tax		9
Net of Tax	$ (16)	$ (16)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic EPS
Net loss available to shareholders	$ (31)	$ 1
Shares (Denominator)	1,753,524	1,959,885
Basic loss earnings per share (in dollars per share)	$ (0.02)
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	$ (31)	$ 1
Shares (Denominator)	1,753,524	1,959,885
Diluted earnings (loss) per share (in dollars per share)	$ (0.02)

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Investments (available-for-sale) :
Available-for-sale securities	$ 12,930	$ 3,698
Obligations of U.S. Government Agencies
Investments (available-for-sale) :
Trading Gains and (Losses)
Total Changes in Fair Values Included in Period Earnings
Available-for-sale securities	934	933
Mortgage-backed securities
Investments (available-for-sale) :
Available-for-sale securities	11,996	2,765
Mortgage backed securities:
Trading Gains and (Losses)
Total Changes in Fair Values Included in Period Earnings
Recurring basis
Mortgage backed securities:
Trading Gains and (Losses)
Total Changes In Fair Values Included In Period Earnings
Total assets measured at fair value on a recurring basis	12,930	3,698
Recurring basis | Obligations of U.S. Government Agencies
Investments (available-for-sale) :
Available-for-sale securities	934	933
Recurring basis | Mortgage-backed securities
Mortgage backed securities:
Mortgage-backed securities	11,996	2,765
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) | Obligations of U.S. Government Agencies
Investments (available-for-sale) :
Available-for-sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | Mortgage-backed securities
Mortgage backed securities:
Mortgage-backed securities
Recurring basis | Other Observable Inputs (Level 2)
Mortgage backed securities:
Total assets measured at fair value on a recurring basis	12,930	3,698
Recurring basis | Other Observable Inputs (Level 2) | Obligations of U.S. Government Agencies
Investments (available-for-sale) :
Available-for-sale securities	934	933
Recurring basis | Other Observable Inputs (Level 2) | Mortgage-backed securities
Mortgage backed securities:
Mortgage-backed securities	11,996	2,765
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) | Obligations of U.S. Government Agencies
Investments (available-for-sale) :
Available-for-sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities
Mortgage backed securities:
Mortgage-backed securities

FAIR VALUE MEASUREMENTS (Deta60

FAIR VALUE MEASUREMENTS (Details 1) - Fair value measurements, nonrecurring - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Impaired loans - Construction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Gains and (Losses)
Total Changes in Fair Values Included in period earnings
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	4,825	6,430
Other Observable Inputs (Level 2) | Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	2,231	2,633
Other Observable Inputs (Level 2) | Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	1,345	1,451
Other Observable Inputs (Level 2) | Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	1,249	2,346
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	472	1,101
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	472	1,101
Significant Unobservable Inputs (Level 3) | Impaired loans - Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Significant Unobservable Inputs (Level 3) | Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Significant Unobservable Inputs (Level 3) | Impaired loans - Construction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Significant Unobservable Inputs (Level 3) | Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	5,297	7,531
Fair Value | Impaired loans - Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	2,703	3,734
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	1,345	1,451
Fair Value | Impaired loans - Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis	1,249	2,346
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

FAIR VALUE MEASUREMENTS (Deta61

FAIR VALUE MEASUREMENTS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Quoted Prices In Active Markets for Identical Assets (Level 1)
ASSETS
Cash, interest-bearing deposits and federal funds sold
Other interest bearing deposits in other banks
Investment securities
Federal Home Loan Bank stock
Loans, net
Bank owned life insurance
Accrued interest receivable
LIABILITIES
Deposits
FHLB Borrowings
Other Observable Inputs (Level 2)
ASSETS
Cash, interest-bearing deposits and federal funds sold	4,598	5,399
Other interest bearing deposits in other banks	10,454	11,090
Investment securities	30,300	21,969
Federal Home Loan Bank stock	626	418
Loans, net	4,825	6,430
Bank owned life insurance	4,455	931
Accrued interest receivable	397	356
LIABILITIES
Deposits
FHLB Borrowings
Significant Unobservable Inputs (Level 3)
ASSETS
Cash, interest-bearing deposits and federal funds sold
Other interest bearing deposits in other banks
Investment securities
Federal Home Loan Bank stock
Loans, net	78,005	79,095
Bank owned life insurance
Accrued interest receivable
LIABILITIES
Deposits	95,620	90,912
FHLB Borrowings	10,997	7,005
Carrying Value
ASSETS
Cash, interest-bearing deposits and federal funds sold	4,598	5,399
Other interest bearing deposits in other banks	10,454	11,090
Investment securities	31,392	22,516
Federal Home Loan Bank stock	626	418
Loans, net	83,254	86,030
Bank owned life insurance	4,455	931
Accrued interest receivable	397	356
LIABILITIES
Deposits	97,741	93,015
FHLB Borrowings	11,000	7,000
Fair Value
ASSETS
Cash, interest-bearing deposits and federal funds sold	4,598	5,399
Other interest bearing deposits in other banks	10,454	11,090
Investment securities	30,300	21,969
Federal Home Loan Bank stock	626	418
Loans, net	82,830	85,525
Bank owned life insurance	4,455	931
Accrued interest receivable	397	356
LIABILITIES
Deposits	95,620	90,912
FHLB Borrowings	$ 10,997	$ 7,005

FAIR VALUE MEASUREMENTS (Deta62

FAIR VALUE MEASUREMENTS (Detail Textuals)	3 Months Ended
	Mar. 31, 2017
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	3.00%
Contractual rates	5.25%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	4.00%
Contractual rates	7.375%