Central Federal Bancshares (CFDB) 10-Q 28 Dec 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Dec. 22, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Central Federal Bancshares, Inc
Entity Central Index Key	1,651,987
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		0
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

STATEMENTS OF FINANCIAL CONDITI

STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Cash and Due from Financial Institutions	$ 7,850,000	$ 7,802,000
Federal Funds Sold	100,000	100,000
Cash and Cash Equivalents	7,950,000	7,902,000
Certificates of Deposit in Other Financial Institutions	2,480,000	2,480,000
Securities Available-for-Sale at Fair Value (Amortized cost is $423,000 at September 30, 2015, and $15,000 at December 31, 2014)	442,000	31,000
Federal Home Loan Bank (FHLB) Stock, at Cost	77,000	78,000
Loans, Net of Allowance for Loan Losses of $261,000 at September 30, 2015 and $279,000 at December 31, 2014	48,793,000	52,184,000
Foreclosed Assets	608,000	243,000
Premises and Equipment, Net	695,000	739,000
Accrued Interest Receivable	120,000	122,000
Deferred Tax Asset, Net	96,000	144,000
Income Taxes Receivable	40,000
Other Assets	532,000	54,000
Total Assets	61,833,000	63,977,000
Deposits:
Noninterest-Bearing	2,514,000	2,640,000
Interest-Bearing	45,537,000	47,642,000
Total Deposits	48,051,000	50,282,000
Other Liabilities	128,000	113,000
Total Liabilities	48,179,000	50,395,000
EQUITY
Retained Earnings - Substantially Restricted	13,642,000	13,571,000
Accumulated Other Comprehensive Income	12,000	11,000
Total Equity	13,654,000	13,582,000
Total Liabilities and Equity	$ 61,833,000	$ 63,977,000

STATEMENTS OF FINANCIAL CONDIT3

STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Parenthetical) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Amortized cost of Securities Available-for-Sale	$ 423,000	$ 15,000
Allowance for Loan Losses	$ 261,000	$ 279,000

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
INTEREST INCOME
Loans, Including Fees	$ 558,000	$ 598,000	$ 1,750,000	$ 1,803,000
Securities and Other	17,000	16,000	47,000	41,000
Total Interest Income	575,000	614,000	1,797,000	1,844,000
INTEREST EXPENSE
Deposits	114,000	122,000	350,000	372,000
Total Interest Expense	114,000	122,000	350,000	372,000
NET INTEREST INCOME	461,000	492,000	1,447,000	1,472,000
PROVISION FOR LOAN LOSSES				60,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	461,000	492,000	1,447,000	1,412,000
NONINTEREST INCOME
Customer Service Fees	12,000	11,000	34,000	35,000
Other Income	5,000	4,000	15,000	17,000
Total Noninterest Income	17,000	15,000	49,000	52,000
NONINTEREST EXPENSE
Compensation and Employee Benefits	249,000	260,000	774,000	785,000
Data Processing and Other Outside Services	66,000	66,000	188,000	190,000
FDIC Insurance and Regulatory Assessment	21,000	21,000	61,000	62,000
Occupancy and Equipment	53,000	53,000	161,000	161,000
Legal and Professional Services	57,000	15,000	83,000	44,000
Supplies, Telephone, and Postage	9,000	10,000	31,000	32,000
Operations of Foreclosed Assets	7,000	3,000	16,000	8,000
Other	25,000	20,000	66,000	61,000
Total Noninterest Expense	487,000	448,000	1,380,000	1,343,000
INCOME (LOSS) BEFORE INCOME TAXES	(9,000)	59,000	116,000	121,000
INCOME TAX EXPENSE	1,000	21,000	45,000	45,000
NET INCOME (LOSS)	$ (10,000)	$ 38,000	$ 71,000	$ 76,000

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (10,000)	$ 38,000	$ 71,000	$ 76,000
Other Comprehensive Income (Loss):
Unrealized Gains/(Losses) on Securities Available-for-Sale		(16,000)	2,000	(1,000)
Income Tax (Expense)/Benefit		5,000	(1,000)
Total Other Comprehensive Income (Loss), net of tax		(11,000)	1,000	(1,000)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ (10,000)	$ 27,000	$ 72,000	$ 75,000

STATEMENTS OF CHANGES IN EQUITY

STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
BALANCE at Dec. 31, 2013	$ 13,452,000	$ 19,000	$ 13,471,000
Net Income	76,000		76,000
Other Comprehensive Income Loss		(1,000)	(1,000)
BALANCE at Sep. 30, 2014	13,528,000	18,000	13,546,000
BALANCE at Dec. 31, 2014	13,571,000	11,000	13,582,000
Net Income	71,000		71,000
Other Comprehensive Income Loss		1,000	1,000
BALANCE at Sep. 30, 2015	$ 13,642,000	$ 12,000	$ 13,654,000

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 71,000	$ 76,000
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:
Provision for Loan Losses		60,000
Depreciation	56,000	54,000
Deferred Income Tax	47,000	(26,000)
Net Changes in:
Accrued Interest Receivable	2,000	10,000
Income Taxes Receivable	(40,000)	50,000
Other Assets	(478,000)	16,000
Other Liabilities	15,000	10,000
Net Cash (Used in) Provided by Operating Activities	(327,000)	250,000
CASH FLOWS FROM INVESTING ACTIVITIES
Net Change in FHLB Stock	1,000
Purchase of Securities Available-for-Sale	(409,000)
Net Decrease in Loans	3,026,000	1,177,000
Purchases of Premises and Equipment	(12,000)	(78,000)
Net Cash Provided by Investing Activities	2,606,000	1,099,000
CASH FLOWS FROM FINANCING ACTIVITIES
Net Decrease in Deposits	(2,231,000)	233,000
Net Cash (Used in) Provided by Financing Activities	(2,231,000)	233,000
NET CHANGE IN CASH AND CASH EQUIVALENTS	48,000	1,582,000
Cash and Cash Equivalents at Beginning of Period	7,902,000	7,258,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD	7,950,000	8,840,000
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest Paid on Deposits	345,000	367,000
Income Taxes Paid, Net of Refunds Received	38,000	$ 22,000
Noncash Investing Activities:
Transfer of Loans to Foreclosed Assets	$ 365,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Central Federal Savings and Loan Association of Rolla (the “Association”) is a community-oriented financial institution, dedicated to serving the financial service needs of customers within its market area, which generally consists of Phelps County, Missouri, although it also services customers in the contiguous Missouri counties of Dent, Texas, Crawford, Pulaski and Maries. The Association offers a variety of loan and deposit products to meet the borrowing needs of its customers. The Association operates out of its office in Rolla, Missouri. The Association is subject to regulation, examination, and supervision by the Office of the Comptroller of the Currency, or OCC, its primary federal regulator, and the Federal Deposit Insurance Corporation, or FDIC, its deposit insurer. Unaudited Interim Financial Statements The interim financial statements prepared by management as of September 30, 2015 and for the three and nine months ended September 30, 2015 and September 30, 2014 contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at September 30, 2015, and the results of operations and cash flows for the periods ended September 30, 2015 and 2014 and are not necessarily indicative of the results to be expected for the full year. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for loan losses, valuation of foreclosed assets, valuation of deferred tax assets, and fair values of financial instruments. Subsequent Events In preparing these financial statements, the Association has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were available to be issued.

CERTIFICATES OF DEPOSIT IN OTHE

CERTIFICATES OF DEPOSIT IN OTHER FINANCIAL INSTITUTIONS	9 Months Ended
	Sep. 30, 2015
Deposits [Abstract]
CERTIFICATES OF DEPOSIT IN OTHER FINANCIAL INSTITUTIONS	NOTE 2 CERTIFICATES OF DEPOSIT IN OTHER FINANCIAL INSTITUTIONS Certificates of deposit in other financial institutions are as follows: September 30, December 31, 2015 2014 (Unaudited) Certificates of Deposit at Cost Maturing In: One Year or Less $ - $ 496,000 One Year to Five Years 2,480,000 1,488,000 Over Five Years - 496,000 $ 2,480,000 $ 2,480,000

SECURITIES

SECURITIES	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
SECURITIES	NOTE 3 SECURITIES The carrying amount and estimated fair market value of investment securities classified as available-for-sale are summarized as follows: September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Unaudited) Muncipal Obligation $ 408,000 $ 2,000 $ - $ 410,000 Federal Home Loan Mortgage Corp. Stock 15,000 17,000 - 32,000 Total $ 423,000 $ 19,000 $ - $ 442,000 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Federal Home Loan Mortgage Corp. Stock $ 15,000 $ 16,000 $ - $ 31,000 During the nine month periods ended September 30, 2015 and 2014, the Association did not sell any securities. The following table indicates amortized cost and estimated fair value of securities available- for-sale at September 30, 2015 based upon contractual maturity. Amortized Cost Fair Value Five Years or Less $ - $ - Over Ten Years 408,000 410,000 No stated maturity date 15,000 32,000 $ 423,000 $ 442,000

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
LOANS AND ALLOWANCE FOR LOAN LOSSES	NOTE 4 LOANS AND ALLOWANCE FOR LOAN LOSSES Loans are summarized as follows: September 30, December 31, 2015 2014 (Unaudited) Commercial Business $ 1,787,000 $ 1,880,000 Commercial and Multi-Family Real Estate 15,833,000 15,993,000 Residential Real Estate 31,048,000 34,179,000 Consumer and Other 406,000 432,000 49,074,000 52,484,000 Allowance for Loan Losses (261,000 ) (279,000 ) Net Deferred Loan Fees (20,000 ) (21,000 ) Loans, Net $ 48,793,000 $ 52,184,000 Residential real estate loans at September 30, 2015 and December 31, 2014 include loans secured by one- to four-family, non-owner occupied properties of $10,639,000 and $11,759,000, respectively. At September 30, 2015 and December 31, 2014, construction loans were $1,145,000 and $826,000, respectively. Loans in process at September 30, 2015 and December 31, 2014 were $1,471,000 and $282,000, respectively. The following presents by portfolio segment, the activity in the allowance for loan losses for the nine months ended September 30, 2015 and 2014: September 30, 2015 (Unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 4,000 $ 46,000 $ 193,000 $ 4,000 $ 32,000 $ 279,000 Provision for Loan Losses - (15,000 ) 3,000 2,000 10,000 - Loans Charged-Off - - (17,000 ) (2,000 ) - (19,000 ) Recoveries of Loans Previously Charged-Off - - 1,000 - - 1,000 Balance at End of Period $ 4,000 $ 31,000 $ 180,000 $ 4,000 $ 42,000 $ 261,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 15,000 $ - $ - $ 15,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 31,000 $ 165,000 $ 4,000 $ 42,000 $ 246,000 Loans: Ending Balance: Individually Evaluated for Impairment $ - $ 386,000 $ 295,000 $ - $ 681,000 Ending Balance: Collectively Evaluated for Impairment $ 1,787,000 $ 15,447,000 $ 30,753,000 $ 406,000 $ 48,393,000 September 30, 2014 (Unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 3,000 $ 142,000 $ 149,000 $ 4,000 $ 53,000 $ 351,000 Provision for Loan Losses 1,000 6,000 62,000 3,000 (12,000 ) 60,000 Loans Charged-Off - - - (4,000 ) - (4,000 ) Recoveries of Loans Previously Charged-Off - - - 1,000 - 1,000 Balance at End of Period $ 4,000 $ 148,000 $ 211,000 $ 4,000 $ 41,000 $ 408,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 20,000 $ - $ - $ 20,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 148,000 $ 191,000 $ 4,000 $ 41,000 $ 388,000 The following presents by portfolio segment, the activity in the allowance for loan losses for the three months ended September 30, 2015 and 2014: September 30, 2015 (unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 4,000 $ 31,000 $ 211,000 $ 4,000 $ 28,000 $ 278,000 Provision for Loan Losses - - (14,000 ) - 14,000 - Loans Charged-Off - - (17,000 ) - - (17,000 ) Recoveries of Loans Previously Charged-Off - - - - - - Balance at End of Period $ 4,000 $ 31,000 $ 180,000 $ 4,000 $ 42,000 $ 261,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 15,000 $ - $ - $ 15,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 31,000 $ 165,000 $ 4,000 $ 42,000 $ 246,000 September 30, 2014 (unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 4,000 $ 236,000 $ 164,000 $ 3,000 $ 1,000 $ 408,000 Provision for Loan Losses - (88,000 ) 47,000 1,000 40,000 - Loans Charged-Off - - - - - - Recoveries of Loans Previously Charged-Off - - - - - - Balance at End of Period $ 4,000 $ 148,000 $ 211,000 $ 4,000 $ 41,000 $ 408,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 20,000 $ - $ - $ 20,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 148,000 $ 191,000 $ 4,000 $ 41,000 $ 388,000 The following tables show the loans allocated by management’s internal risk ratings: Credit Risk Profile by Risk Rating Commercial Commercial and Multi-Family Residential Consumer September 30, 2015 (Unaudited) Business Real Estate Real Estate and Other Total Risk Rating: Unclassified $ 1,787,000 $ 15,833,000 $ 30,385,000 $ 406,000 $ 48,411,000 Special Mention - - 110,000 - 110,000 Substandard - - 553,000 - 553,000 Total $ 1,787,000 $ 15,833,000 $ 31,048,000 $ 406,000 $ 49,074,000 Credit Risk Profile by Risk Rating Commercial Commercial Commercial and Multi-Family Residential and Multi-Family December 31, 2014 Business Real Estate Real Estate Real Estate Total Risk Rating: Unclassified $ 1,631,000 $ 15,993,000 $ 32,795,000 $ 429,000 $ 50,848,000 Special Mention 198,000 - 679,000 - 877,000 Substandard 51,000 - 705,000 3,000 759,000 Total $ 1,880,000 $ 15,993,000 $ 34,179,000 $ 432,000 $ 52,484,000 The following tables show the aging analysis of the loan portfolio by time past due: Accruing Interest 30-89 90 Days or Total Total September, 30 2015 (Unaudited) Current Days Past Due More Past Due Nonaccrual Loans Commercial Business $ 1,787,000 $ - $ - $ - $ 1,787,000 Commercial and Multi-Family Real Estate 15,821,000 12,000 - - 15,833,000 Residential Real Estate 30,678,000 75,000 - 295,000 31,048,000 Consumer and Other 395,000 11,000 - - 406,000 $ 48,681,000 $ 98,000 $ - $ 295,000 $ 49,074,000 Accruing Interest 30-89 90 Days or Total Total December 31, 2014 Current Days Past Due More Past Due Nonaccrual Loans Commercial Business $ 1,880,000 $ - $ - $ - $ 1,880,000 Commercial and Multi-Family Real Estate 15,942,000 - - 51,000 15,993,000 Residential Real Estate 33,132,000 145,000 312,000 590,000 34,179,000 Consumer and Other 417,000 12,000 - 3,000 432,000 $ 51,371,000 $ 157,000 $ 312,000 $ 644,000 $ 52,484,000 Interest income that would have been recorded for the nine months ended September 30, 2015 and 2014 had nonaccrual loans been current according to their original terms amounted to $17,000 and$37,000, respectively. Interest income recognized on nonaccrual loans during the nine months ended September 30, 2015 and 2014 amounted to $4,000 and$1,000, respectively. The following tables present information related to impaired loans: September 30, 2015 (Unaudited) Unpaid Recorded Principal Related Investment Balance Allowance Loans With No Related Allowance Recorded: Commercial and Multi-Family Real Estate $ 386,000 $ 386,000 $ - Residential Real Estate 1,000 131,000 - Total Loans With No Related Allowance Recorded $ 387,000 $ 517,000 $ - Loans With an Allowance Recorded: Residential Real Estate $ 294,000 $ 307,000 $ 15,000 Total Impaired Loans: Commercial and Multi-Family Real Estate $ 386,000 $ 386,000 $ - Residential Real Estate 295,000 438,000 15,000 Total $ 681,000 $ 824,000 $ 15,000 September 30, 2014 (Unaudited) Unpaid Recorded Principal Related Investment Balance Allowance Loans With No Related Allowance Recorded: Commercial and Multi-Family Real Estate $ 574,000 $ 615,000 $ - Residential Real Estate 287,000 418,000 - Total Loans With No Related Allowance Recorded $ 861,000 $ 1,033,000 $ - Loans With an Allowance Recorded: Residential Real Estate $ 380,000 $ 380,000 $ 20,000 Total Impaired Loans: Commercial and Multi-Family Real Estate $ 574,000 $ 615,000 $ - Residential Real Estate 667,000 798,000 20,000 Total $ 1,241,000 $ 1,413,000 $ 20,000 September 30, 2015 (Unaudited) Three Months Ended Nine Months Ended Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Loans With No Related Allowance Recorded: Commercial and Multi-Family Real Estate $ 389,000 $ 3,000 $ 389,000 $ 9,000 Residential Real Estate 4,000 1,000 4,000 4,000 Total Loans With No Related Allowance Recorded $ 393,000 $ 4,000 $ 393,000 $ 13,000 Loans With an Allowance Recorded: Residential Real Estate $ 306,000 $ - $ 303,000 $ - Total Impaired Loans: Commercial and Multi-Family Real Estate $ 389,000 $ 3,000 $ 389,000 $ 9,000 Residential Real Estate 310,000 1,000 307,000 4,000 Total $ 699,000 $ 4,000 $ 696,000 $ 13,000 For the nine months ended September 30, 2014, the Association had an average recorded investment of impaired loans of $1,251,000, which was comprised of $667,000 of residential real estate loans and $584,000 of commercial and multi-family real estate loans. The Association recognized $1,000 of interest income on impaired loans, all of which was related to residential real estate loans. The Association does not have material commitments to lend additional funds to borrowers with loans whose terms have been modified in TDRs or whose loans are on nonaccrual. There were no loans modified in TDRs for the nine months ended September 30, 2015 and 2014.

FORECLOSED ASSETS

FORECLOSED ASSETS	9 Months Ended
	Sep. 30, 2015
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
FORECLOSED ASSETS	NOTE 5 FORECLOSED ASSETS Activity in foreclosed assets is as follows: Nine Months Nine Months Ended Ended September 30, 2015 September 30, 2014 (Unaudited) Balance Beginning of Period $ 243,000 $ 243,000 Additions 365,000 - Sales - - Loss on Sales - - Balance at End of Period $ 608,000 $ 243,000

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	9 Months Ended
	Sep. 30, 2015
Risks and Uncertainties [Abstract]
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	NOTE 6 FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK In the normal course of business, the Association has outstanding commitments and contingent liabilities, such as commitments to extend credit and standby letters of credit, which are not included in the accompanying financial statements. The Association’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual or notional amount of those instruments. The Association uses the same credit policies in making such commitments as it does for instruments that are included in the statement s The following financial instruments whose contract amount represents credit risk were approximately as follows: September 30, December 31, 2015 2014 (Unaudited) Commitments to Extend Credit $ 4,273,000 $ 2,589,000 Standby Letters of Credit 15,000 15,000 $ 4,288,000 $ 2,604,000 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Association evaluates each customer’s creditworthiness on a case by case basis. The amount of collateral obtained, if deemed necessary by the Association upon extension of credit, is based on management’s credit evaluation. Collateral held varies but may include accounts receivable, inventory, property and equipment, and income producing commercial properties. Standby letters of credit are conditional commitments issued by the Association to guarantee the performance of a customer to a third party. Standby letters-of-credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Association’s policy for obtaining collateral, and the nature of such collateral, is essentially the same as that involved in making commitments to extend credit. The Association was not required to perform on any financial guarantees and did not incur any losses on its commitments.

REGULATORY MATTERS

REGULATORY MATTERS	9 Months Ended
	Sep. 30, 2015
Regulated Operations [Abstract]
REGULATORY MATTERS	NOTE 7 REGULATORY MATTERS The Association is subject to various regulatory capital requirements administered by the federal and state 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 Association’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Association must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. As of September 30, 2015, the most recent notification from the banking regulators categorized the Association as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Association must maintain minimum total risk-based, Tier 1 risk-based, common equity Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed the Association’s category. Quantitative measures established by regulation to ensure capital adequacy require the Association to maintain minimum amounts and ratios set forth in the following table. Management believes, as of September 30, 2015, that the Association met all its capital adequacy requirements. The Association’s capital amounts and ratios are presented in the following table. Minimum Capital Minimum to be Actual Requirement Well Capitalized Amount Ratio Amount Ratio Amount Ratio September 30, 2015 (Unaudited) Total Capital to Risk Weighted Assets $ 13,807,000 39.2 % $ 2,818,000 8.0 % $ 3,522,000 10.0 % Tier I Capital to Risk Weighted Assets 13,546,000 38.5 % 2,113,000 6.0 % 2,818,000 8.0 % Common Equity Tier I Capital to Risk Weighted Assets 13,546,000 38.5 % 1,585,000 4.5 % 2,289,000 6.5 % Tier I Capital to Average Assets 13,546,000 21.8 % 2,488,000 4.0 % 3,110,000 5.0 % December 31, 2014 Total Capital to Risk Weighted Assets $ 13,863,000 34.7 % $ 3,199,000 8.0 % $ 3,998,000 10.0 % Tier I Capital to Risk Weighted Assets 13,571,000 33.9 % 1,599,000 4.0 % 2,399,000 6.0 % Tier I Capital to Average Assets 13,571,000 21.2 % 2,558,000 4.0 % 3,198,000 5.0 % The Basel III Capital Rules, which became effective January 1, 2015, revised the prompt corrective action requirements by: (i) introducing a Common Equity Tier 1 risk-based ratio requirement at each level (other than critically undercapitalized), with the required Common Equity Tier 1 risk-based ratio being 6.5% for “well-capitalized” status; (ii) increasing the minimum Tier 1 risk-based capital ratio requirement for each category (other than critically undercapitalized), with the minimum Tier 1 risk-based capital ratio for “well-capitalized” status being 8% (compared to the prior ratio of 6%); and (iii) eliminating the former provision that provided that a bank with a composite supervisory rating of 1 may have a 3% Leverage Ratio and still be adequately capitalized. The Basel III Capital Rules did not change the total risk based capital requirement for any prompt corrective action category.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 8 FAIR VALUE MEASUREMENTS The Association categorizes its assets and liabilities measured at fair value into a three-level hierarchy based on the priority of the inputs to the valuation technique used to determine fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used in the determination of the fair value measurement fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement. Assets and liabilities valued at fair value are categorized based on the inputs to the valuation techniques as follows: Level 1 Level 2 Level 3 Subsequent to initial recognition, the Association may remeasure the carrying value of assets and liabilities measured on a nonrecurring basis to fair value. Adjustments to fair value usually result when certain assets are impaired. Such assets are written down from their carrying amounts to their fair value. Professional standards allow entities the irrevocable option to elect to measure certain financial instruments and other items at fair value for the initial and subsequent measurement on an instrument-by-instrument basis. The Association adopted the policy to value certain financial instruments at fair value. The Association has not elected to measure any existing financial instruments at fair value; however, it may elect to measure newly acquired financial instruments at fair value in the future. Recurring Basis The Association uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The following tables present the balances of assets and liabilities measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total September 30, 2015 (Unaudited) Securities Available-for-Sale Muncipal Obligation $ - $ 410,000 $ - $ 410,000 Federal Home Loan Mortgage Corp. Stock 32,000 - - 32,000 Total $ 32,000 $ 410,000 $ - $ 442,000 December 31, 2014 Securities Available-for-Sale Federal Home Loan Mortgage Corp. Stock $ 31,000 $ - $ - $ 31,000 The following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy. Securities When available, the Association uses quoted market prices to determine the fair value of securities; such items are classified in Level 1 of the fair value hierarchy. For the Association’s securities for which quoted prices are not available for identical securities in an active market, the Association determines fair value utilizing vendors who apply matrix pricing for similar bonds for which no price is observable or may compile prices from various sources; such items are classified in Level 2 of the fair value hierarchy. Nonrecurring Basis Certain assets are measured at fair value on a nonrecurring basis. These assets are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as there is evidence of impairment or a change in the amount of previously recognized impairment. Net impairment losses including charge-offs or allocated losses, related to nonrecurring fair value measurements of certain assets for the nine month period ended September 30, 2015 and the year ended December 31, 2014 consisted of the following: Impairment Level 1 Level 2 Level 3 Losses September 30, 2015 (Unaudited) Impaired Loans $ - $ - $ 279,000 $ 15,000 December 31, 2014 Impaired Loans $ - $ - $ 265,000 $ 104,000 The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on the nonrecurring basis are as follows as of September 30, 2015 and December 31, 2014: Valuation Unobservable Range Techniques Inputs (Average) Impaired Loans Evaluation of Collateral Estimation of Value NM* * Not Meaningful. Impaired Loans In accordance with the provisions of the loan impairment guidance, impairment was measured for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceeds the recorded investments in such loans. Impaired loans for which an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. Collateral values are estimated using Level 3 Impairment amounts on impaired loans represent specific valuation allowance and write-downs during the period presented on impaired loans that were individually evaluated for impairment based on the estimated fair value of the collateral less estimated selling costs, excluding impaired loans fully charged-off.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Of Financial Instruments [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 9 FAIR VALUE OF FINANCIAL INSTRUMENTS Disclosure of fair value information about financial instruments, for which it is practicable to estimate that value, is required whether or not recognized in the statements of financial condition. In cases in which quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases could not be realized in immediate settlement of the instruments. Certain financial instruments with a fair value that is not practicable to estimate and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value of the Association. The following disclosures represent financial instruments in which the ending balances at September 30, 2015 and December 31, 2014 are not carried at fair value in their entirety on the statements of financial condition. Cash and Cash Equivalents and Accrued Interest The carrying amounts reported in the statements of financial condition approximate those assets’ and liabilities’ fair values. Accrued interest is primarily accrued interest from loans. Certificates of Deposit in Other Financial Institutions Fair values of certificates of deposit in other financial institutions are estimated using discounted cash flow analyses based on current rates for similar types of deposits. FHLB Stock, at Cost The carrying amount of FHLB stock approximates its fair value based on the redemption provisions of the FHLB. Loans For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values of other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Deposits The fair values of demand deposits are, by definition, equal to the amount payable on demand at the balance sheet date. The fair values of fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies current incremental interest rates being offered on certificates of deposit to a schedule of aggregated expected monthly maturities of the outstanding certificates of deposit. Off-Balance-Sheet Credit-Related Instruments Off-Balance-Sheet Credit Related Instrument commitments are generally of a short-term nature. The contract amount of such commitments approximates their fair value since the commitments are comprised primarily of unfunded loan commitments which are generally priced at market at the time of funding. Fair Value of Financial Instruments The estimated fair values, and related carrying or notional amounts, of the Association’s financial instruments are as follows: September 30, 2015 December 31, 2014 (Unaudited) Carrying Fair Carrying Fair Input Amount Value Amount Value Level Financial Assets: Cash and Cash Equivalents $ 7,950,000 7,950,000 $ 7,902,000 $ 7,902,000 1 Certificates of Deposit in Other Financial Institutions 2,480,000 2,511,000 2,480,000 2,519,000 2 FHLB Stock 77,000 77,000 78,000 78,000 2 Loans, net 48,793,000 49,164,000 52,184,000 52,031,000 3 Accrued Interest Receivable 120,000 120,000 122,000 122,000 2 Financial Liabilities: Deposits 48,051,000 48,342,000 50,282,000 50,624,000 3 Accrued Interest Payable 6,000 6,000 1,000 1,000 2

SUBSEQUENT EVENT - CONVERSION

SUBSEQUENT EVENT - CONVERSION	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENT - CONVERSION	NOTE 10 SUBSEQUENT EVENT - CONVERSION On August 4, 2015, the Board of Directors of the Association adopted a Plan of Conversion, which was amended on September 8, 2015 and October 20, 2015, under which the Association would convert from a federally chartered mutual savings association into a federally chartered stock savings association and will operate as a wholly-owned subsidiary of a newly chartered savings and loan holding company (the “Holding Company”). The Plan of Conversion was approved by the applicable regulatory agencies and also by the members of the Association at a special meeting of such members. The Plan of Conversion also included the filing of a registration statement with the U.S. Securities and Exchange Commission. Pursuant to the Plan, the Holding Company will determine the total offering value and number of shares of common stock based upon a valuation by an independent appraiser. The stock will be priced at $10.00 per share. The Holding Company’s Board of Directors also adopted an employee stock ownership plan which will subscribe for up to 8% of the common stock sold in the offering. The cost of conversion and issuing the capital stock will be deferred and deducted from the proceeds of the offering. In the event the conversion and offering are not completed, any deferred costs will be charged to operations. At September 30, 2015 (unaudited), there were deferred conversion costs of $471,000. At December 31, 2014 the Association had not incurred any conversion costs. As part of the Plan of Conversion, the Holding Company established a charitable foundation (the “Foundation”). The Foundation will be funded with $100,000 in cash and a number of shares of Holding Company common stock equal to 4% of the shares sold in the offering. In connection with the Plan of Conversion and stock offering, the Association intends to enter into an employment agreement with the President and Chief Executive Officer that contains change in control provisions and intends to enter into change in control agreements with another executive officer of the Association. At the completion of the conversion to stock form, the Association will establish a liquidation account in the amount of retained earnings contained in the final prospectus. The liquidation account will be maintained for the benefit of eligible depositors who maintain deposit accounts in the Association subsequent to conversion. The conversion will be accounted for as a change in corporate form with the historic basis of the Association’s assets, liabilities and equity unchanged as a result.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Central Federal Savings and Loan Association of Rolla (the “Association”) is a community-oriented financial institution, dedicated to serving the financial service needs of customers within its market area, which generally consists of Phelps County, Missouri, although it also services customers in the contiguous Missouri counties of Dent, Texas, Crawford, Pulaski and Maries. The Association offers a variety of loan and deposit products to meet the borrowing needs of its customers. The Association operates out of its office in Rolla, Missouri. The Association is subject to regulation, examination, and supervision by the Office of the Comptroller of the Currency, or OCC, its primary federal regulator, and the Federal Deposit Insurance Corporation, or FDIC, its deposit insurer.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for loan losses, valuation of foreclosed assets, valuation of deferred tax assets, and fair values of financial instruments.
Subsequent Events	Subsequent Events In preparing these financial statements, the Association has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were available to be issued.

CERTIFICATES OF DEPOSIT IN OT19

CERTIFICATES OF DEPOSIT IN OTHER FINANCIAL INSTITUTIONS (Tables)	9 Months Ended
	Sep. 30, 2015
Deposits [Abstract]
Schedule of certificates of deposit in other financial institutions	September 30, December 31, 2015 2014 (Unaudited) Certificates of Deposit at Cost Maturing In: One Year or Less $ - $ 496,000 One Year to Five Years 2,480,000 1,488,000 Over Five Years - 496,000 $ 2,480,000 $ 2,480,000

SECURITIES (Tables)

SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of carrying amount and estimated fair market value of investment securities classified as available-for-sale	September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Unaudited) Muncipal Obligation $ 408,000 $ 2,000 $ - $ 410,000 Federal Home Loan Mortgage Corp. Stock 15,000 17,000 - 32,000 Total $ 423,000 $ 19,000 $ - $ 442,000 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Federal Home Loan Mortgage Corp. Stock $ 15,000 $ 16,000 $ - $ 31,000
Schedule of amortized cost and estimated fair value of securities available for sale	Amortized Cost Fair Value Five Years or Less $ - $ - Over Ten Years 408,000 410,000 No stated maturity date 15,000 32,000 $ 423,000 $ 442,000

LOANS AND ALLOWANCE FOR LOAN 21

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Schedule of loans	September 30, December 31, 2015 2014 (Unaudited) Commercial Business $ 1,787,000 $ 1,880,000 Commercial and Multi-Family Real Estate 15,833,000 15,993,000 Residential Real Estate 31,048,000 34,179,000 Consumer and Other 406,000 432,000 49,074,000 52,484,000 Allowance for Loan Losses (261,000 ) (279,000 ) Net Deferred Loan Fees (20,000 ) (21,000 ) Loans, Net $ 48,793,000 $ 52,184,000
Schedule of portfolio segment, the activity in allowance for loan losses	September 30, 2015 (Unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 4,000 $ 46,000 $ 193,000 $ 4,000 $ 32,000 $ 279,000 Provision for Loan Losses - (15,000 ) 3,000 2,000 10,000 - Loans Charged-Off - - (17,000 ) (2,000 ) - (19,000 ) Recoveries of Loans Previously Charged-Off - - 1,000 - - 1,000 Balance at End of Period $ 4,000 $ 31,000 $ 180,000 $ 4,000 $ 42,000 $ 261,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 15,000 $ - $ - $ 15,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 31,000 $ 165,000 $ 4,000 $ 42,000 $ 246,000 Loans: Ending Balance: Individually Evaluated for Impairment $ - $ 386,000 $ 295,000 $ - $ 681,000 Ending Balance: Collectively Evaluated for Impairment $ 1,787,000 $ 15,447,000 $ 30,753,000 $ 406,000 $ 48,393,000 September 30, 2014 (Unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 3,000 $ 142,000 $ 149,000 $ 4,000 $ 53,000 $ 351,000 Provision for Loan Losses 1,000 6,000 62,000 3,000 (12,000 ) 60,000 Loans Charged-Off - - - (4,000 ) - (4,000 ) Recoveries of Loans Previously Charged-Off - - - 1,000 - 1,000 Balance at End of Period $ 4,000 $ 148,000 $ 211,000 $ 4,000 $ 41,000 $ 408,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 20,000 $ - $ - $ 20,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 148,000 $ 191,000 $ 4,000 $ 41,000 $ 388,000 September 30, 2015 (unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 4,000 $ 31,000 $ 211,000 $ 4,000 $ 28,000 $ 278,000 Provision for Loan Losses - - (14,000 ) - 14,000 - Loans Charged-Off - - (17,000 ) - - (17,000 ) Recoveries of Loans Previously Charged-Off - - - - - - Balance at End of Period $ 4,000 $ 31,000 $ 180,000 $ 4,000 $ 42,000 $ 261,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 15,000 $ - $ - $ 15,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 31,000 $ 165,000 $ 4,000 $ 42,000 $ 246,000 September 30, 2014 (unaudited) Commercial Commercial and Multi-Family Residential Consumer Business Real Estate Real Estate and Other Unallocated Total Allowance for Loan Losses: Balance at Beginning of Period $ 4,000 $ 236,000 $ 164,000 $ 3,000 $ 1,000 $ 408,000 Provision for Loan Losses - (88,000 ) 47,000 1,000 40,000 - Loans Charged-Off - - - - - - Recoveries of Loans Previously Charged-Off - - - - - - Balance at End of Period $ 4,000 $ 148,000 $ 211,000 $ 4,000 $ 41,000 $ 408,000 Ending Balance: Individually Evaluated for Impairment $ - $ - $ 20,000 $ - $ - $ 20,000 Ending Balance: Collectively Evaluated for Impairment $ 4,000 $ 148,000 $ 191,000 $ 4,000 $ 41,000 $ 388,000
Schedule of loans allocated by management's internal risk ratings	Credit Risk Profile by Risk Rating Commercial Commercial and Multi-Family Residential Consumer September 30, 2015 (Unaudited) Business Real Estate Real Estate and Other Total Risk Rating: Unclassified $ 1,787,000 $ 15,833,000 $ 30,385,000 $ 406,000 $ 48,411,000 Special Mention - - 110,000 - 110,000 Substandard - - 553,000 - 553,000 Total $ 1,787,000 $ 15,833,000 $ 31,048,000 $ 406,000 $ 49,074,000 Credit Risk Profile by Risk Rating Commercial Commercial Commercial and Multi-Family Residential and Multi-Family December 31, 2014 Business Real Estate Real Estate Real Estate Total Risk Rating: Unclassified $ 1,631,000 $ 15,993,000 $ 32,795,000 $ 429,000 $ 50,848,000 Special Mention 198,000 - 679,000 - 877,000 Substandard 51,000 - 705,000 3,000 759,000 Total $ 1,880,000 $ 15,993,000 $ 34,179,000 $ 432,000 $ 52,484,000
Schedule of aging analysis of loan portfolio by time past due	Accruing Interest 30-89 90 Days or Total Total September, 30 2015 (Unaudited) Current Days Past Due More Past Due Nonaccrual Loans Commercial Business $ 1,787,000 $ - $ - $ - $ 1,787,000 Commercial and Multi-Family Real Estate 15,821,000 12,000 - - 15,833,000 Residential Real Estate 30,678,000 75,000 - 295,000 31,048,000 Consumer and Other 395,000 11,000 - - 406,000 $ 48,681,000 $ 98,000 $ - $ 295,000 $ 49,074,000 Accruing Interest 30-89 90 Days or Total Total December 31, 2014 Current Days Past Due More Past Due Nonaccrual Loans Commercial Business $ 1,880,000 $ - $ - $ - $ 1,880,000 Commercial and Multi-Family Real Estate 15,942,000 - - 51,000 15,993,000 Residential Real Estate 33,132,000 145,000 312,000 590,000 34,179,000 Consumer and Other 417,000 12,000 - 3,000 432,000 $ 51,371,000 $ 157,000 $ 312,000 $ 644,000 $ 52,484,000
Schedule of impaired loans	September 30, 2015 (Unaudited) Unpaid Recorded Principal Related Investment Balance Allowance Loans With No Related Allowance Recorded: Commercial and Multi-Family Real Estate $ 386,000 $ 386,000 $ - Residential Real Estate 1,000 131,000 - Total Loans With No Related Allowance Recorded $ 387,000 $ 517,000 $ - Loans With an Allowance Recorded: Residential Real Estate $ 294,000 $ 307,000 $ 15,000 Total Impaired Loans: Commercial and Multi-Family Real Estate $ 386,000 $ 386,000 $ - Residential Real Estate 295,000 438,000 15,000 Total $ 681,000 $ 824,000 $ 15,000 September 30, 2014 (Unaudited) Unpaid Recorded Principal Related Investment Balance Allowance Loans With No Related Allowance Recorded: Commercial and Multi-Family Real Estate $ 574,000 $ 615,000 $ - Residential Real Estate 287,000 418,000 - Total Loans With No Related Allowance Recorded $ 861,000 $ 1,033,000 $ - Loans With an Allowance Recorded: Residential Real Estate $ 380,000 $ 380,000 $ 20,000 Total Impaired Loans: Commercial and Multi-Family Real Estate $ 574,000 $ 615,000 $ - Residential Real Estate 667,000 798,000 20,000 Total $ 1,241,000 $ 1,413,000 $ 20,000 September 30, 2015 (Unaudited) Three Months Ended Nine Months Ended Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Loans With No Related Allowance Recorded: Commercial and Multi-Family Real Estate $ 389,000 $ 3,000 $ 389,000 $ 9,000 Residential Real Estate 4,000 1,000 4,000 4,000 Total Loans With No Related Allowance Recorded $ 393,000 $ 4,000 $ 393,000 $ 13,000 Loans With an Allowance Recorded: Residential Real Estate $ 306,000 $ - $ 303,000 $ - Total Impaired Loans: Commercial and Multi-Family Real Estate $ 389,000 $ 3,000 $ 389,000 $ 9,000 Residential Real Estate 310,000 1,000 307,000 4,000 Total $ 699,000 $ 4,000 $ 696,000 $ 13,000

FORECLOSED ASSETS (Tables)

FORECLOSED ASSETS (Tables)	9 Months Ended
	Sep. 30, 2015
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
Schedule of activity in foreclosed assets	Nine Months Nine Months Ended Ended September 30, 2015 September 30, 2014 (Unaudited) Balance Beginning of Period $ 243,000 $ 243,000 Additions 365,000 - Sales - - Loss on Sales - - Balance at End of Period $ 608,000 $ 243,000

FINANCIAL INSTRUMENTS WITH OF23

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Tables)	9 Months Ended
	Sep. 30, 2015
Risks and Uncertainties [Abstract]
Schedule of financial instruments whose contract amount represents credit risk	September 30, December 31, 2015 2014 (Unaudited) Commitments to Extend Credit $ 4,273,000 $ 2,589,000 Standby Letters of Credit 15,000 15,000 $ 4,288,000 $ 2,604,000

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	9 Months Ended
	Sep. 30, 2015
Regulated Operations [Abstract]
Schedule of association's capital amounts and ratios	Minimum Capital Minimum to be Actual Requirement Well Capitalized Amount Ratio Amount Ratio Amount Ratio September 30, 2015 (Unaudited) Total Capital to Risk Weighted Assets $ 13,807,000 39.2 % $ 2,818,000 8.0 % $ 3,522,000 10.0 % Tier I Capital to Risk Weighted Assets 13,546,000 38.5 % 2,113,000 6.0 % 2,818,000 8.0 % Common Equity Tier I Capital to Risk Weighted Assets 13,546,000 38.5 % 1,585,000 4.5 % 2,289,000 6.5 % Tier I Capital to Average Assets 13,546,000 21.8 % 2,488,000 4.0 % 3,110,000 5.0 % December 31, 2014 Total Capital to Risk Weighted Assets $ 13,863,000 34.7 % $ 3,199,000 8.0 % $ 3,998,000 10.0 % Tier I Capital to Risk Weighted Assets 13,571,000 33.9 % 1,599,000 4.0 % 2,399,000 6.0 % Tier I Capital to Average Assets 13,571,000 21.2 % 2,558,000 4.0 % 3,198,000 5.0 %

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of balances of assets and liabilities measured at fair value on a recurring basis	Level 1 Level 2 Level 3 Total September 30, 2015 (Unaudited) Securities Available-for-Sale Muncipal Obligation $ - $ 410,000 $ - $ 410,000 Federal Home Loan Mortgage Corp. Stock 32,000 - - 32,000 Total $ 32,000 $ 410,000 $ - $ 442,000 December 31, 2014 Securities Available-for-Sale Federal Home Loan Mortgage Corp. Stock $ 31,000 $ - $ - $ 31,000
Schedule of impairment losses including charge-offs or allocated losses, related to nonrecurring fair value measurements of certain assets	Impairment Level 1 Level 2 Level 3 Losses September 30, 2015 (Unaudited) Impaired Loans $ - $ - $ 279,000 $ 15,000 December 31, 2014 Impaired Loans $ - $ - $ 265,000 $ 104,000
Schedule of significant inputs used in the fair value measurements for Level 3 assets measured at fair value on nonrecurring basis	Valuation Unobservable Range Techniques Inputs (Average) Impaired Loans Evaluation of Collateral Estimation of Value NM* * Not Meaningful.

FAIR VALUE OF FINANCIAL INSTR26

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Of Financial Instruments [Abstract]
Schedule of estimated fair values and related carrying or notional amounts of financial instruments	September 30, 2015 December 31, 2014 (Unaudited) Carrying Fair Carrying Fair Input Amount Value Amount Value Level Financial Assets: Cash and Cash Equivalents $ 7,950,000 7,950,000 $ 7,902,000 $ 7,902,000 1 Certificates of Deposit in Other Financial Institutions 2,480,000 2,511,000 2,480,000 2,519,000 2 FHLB Stock 77,000 77,000 78,000 78,000 2 Loans, net 48,793,000 49,164,000 52,184,000 52,031,000 3 Accrued Interest Receivable 120,000 120,000 122,000 122,000 2 Financial Liabilities: Deposits 48,051,000 48,342,000 50,282,000 50,624,000 3 Accrued Interest Payable 6,000 6,000 1,000 1,000 2

CERTIFICATES OF DEPOSIT IN OT27

CERTIFICATES OF DEPOSIT IN OTHER FINANCIAL INSTITUTIONS (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Certificates of Deposit at Cost Maturing In:
One Year or Less		$ 496,000
One Year to Five Years	$ 2,480,000	1,488,000
Over Five Years		496,000
Certificates of Deposit at Cost	$ 2,480,000	$ 2,480,000

SECURITIES - Carrying amount an

SECURITIES - Carrying amount and estimated fair market value of investment securities (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 423,000	$ 15,000
Gross Unrealized Gains	$ 19,000
Gross Unrealized Losses
Fair Value	$ 442,000	31,000
Municipal Obligation
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	408,000
Gross Unrealized Gains	$ 2,000
Gross Unrealized Losses
Fair Value	$ 410,000
Federal Home Loan Mortgage Corp. Stock
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,000	15,000
Gross Unrealized Gains	$ 17,000	$ 16,000
Gross Unrealized Losses
Fair Value	$ 32,000	$ 31,000

SECURITIES - Amortized cost and

SECURITIES - Amortized cost and estimated fair value of securities available for sale (Details 1)	Sep. 30, 2015USD ($)
Amortized Cost
Five Years or Less
Over Ten Years	$ 408,000
No stated maturity date	15,000
Amortized cost of securities available for sale	$ 423,000
Fair Value
Five Years or Less
Over Ten Years	$ 410,000
No stated maturity date	32,000
Fair value amortized cost of securities available for sale	$ 442,000

LOANS AND ALLOWANCE FOR LOAN 30

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Loan Losses	$ (261,000)		$ (279,000)
Loans, Net	48,793,000		52,184,000
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, Gross	49,074,000		52,484,000
Allowance for Loan Losses	(261,000)	$ (278,000)	(279,000)	$ (408,000)	$ (408,000)	$ (351,000)
Net Deferred Loan Fees	(20,000)		(21,000)
Loans, Net	48,793,000		52,184,000
Loans Receivable | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, Gross	1,787,000		1,880,000
Allowance for Loan Losses	(4,000)	(4,000)	(4,000)	(4,000)	(4,000)	(3,000)
Loans Receivable | Commercial and Multi-Family Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, Gross	15,833,000		15,993,000
Allowance for Loan Losses	(31,000)	(31,000)	(46,000)	(148,000)	(236,000)	(142,000)
Loans Receivable | Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, Gross	31,048,000		34,179,000
Allowance for Loan Losses	(180,000)	(211,000)	(193,000)	(211,000)	(164,000)	(149,000)
Loans, Net	10,639,000		11,759,000
Loans Receivable | Consumer and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, Gross	406,000		432,000
Allowance for Loan Losses	$ (4,000)	$ (4,000)	$ (4,000)	$ (4,000)	$ (3,000)	$ (4,000)

LOANS AND ALLOWANCE FOR LOAN 31

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Allowance for Loan Losses:
Balance at Beginning of Period			$ 279,000
Provision for Loan Losses				$ 60,000
Balance at End of Period	$ 261,000		261,000
Loans Receivable
Allowance for Loan Losses:
Balance at Beginning of Period	$ 278,000	$ 408,000	$ 279,000	351,000
Provision for Loan Losses				60,000
Loans Charged-Off	$ (17,000)		$ (19,000)	(4,000)
Recoveries of Loans Previously Charged-Off			1,000	1,000
Balance at End of Period	$ 261,000	$ 408,000	261,000	408,000
Loans and Leases Receivable, Allowance [Abstract]
Ending Balance: Individually Evaluated for Impairment	15,000	20,000	15,000	20,000
Ending Balance: Collectively Evaluated for Impairment	246,000	$ 388,000	246,000	$ 388,000
Loans:
Ending Balance: Individually Evaluated for Impairment	681,000		681,000
Ending Balance: Collectively Evaluated for Impairment	48,393,000		48,393,000
Loans Receivable | Commercial Business
Allowance for Loan Losses:
Balance at Beginning of Period	$ 4,000	$ 4,000	$ 4,000	$ 3,000
Provision for Loan Losses				$ 1,000
Loans Charged-Off
Recoveries of Loans Previously Charged-Off
Balance at End of Period	$ 4,000	$ 4,000	$ 4,000	$ 4,000
Loans and Leases Receivable, Allowance [Abstract]
Ending Balance: Individually Evaluated for Impairment
Ending Balance: Collectively Evaluated for Impairment	$ 4,000	$ 4,000	$ 4,000	$ 4,000
Loans:
Ending Balance: Individually Evaluated for Impairment
Ending Balance: Collectively Evaluated for Impairment	$ 1,787,000		$ 1,787,000
Loans Receivable | Commercial and Multi-Family Real Estate
Allowance for Loan Losses:
Balance at Beginning of Period	$ 31,000	236,000	46,000	142,000
Provision for Loan Losses		$ (88,000)	$ (15,000)	$ 6,000
Loans Charged-Off
Recoveries of Loans Previously Charged-Off
Balance at End of Period	$ 31,000	$ 148,000	$ 31,000	$ 148,000
Loans and Leases Receivable, Allowance [Abstract]
Ending Balance: Individually Evaluated for Impairment
Ending Balance: Collectively Evaluated for Impairment	$ 31,000	$ 148,000	$ 31,000	$ 148,000
Loans:
Ending Balance: Individually Evaluated for Impairment	386,000		386,000
Ending Balance: Collectively Evaluated for Impairment	15,447,000		15,447,000
Loans Receivable | Residential Real Estate
Allowance for Loan Losses:
Balance at Beginning of Period	211,000	164,000	193,000	149,000
Provision for Loan Losses	(14,000)	$ 47,000	3,000	$ 62,000
Loans Charged-Off	$ (17,000)		(17,000)
Recoveries of Loans Previously Charged-Off			1,000
Balance at End of Period	$ 180,000	$ 211,000	180,000	$ 211,000
Loans and Leases Receivable, Allowance [Abstract]
Ending Balance: Individually Evaluated for Impairment	15,000	20,000	15,000	20,000
Ending Balance: Collectively Evaluated for Impairment	165,000	191,000	165,000	191,000
Loans:
Ending Balance: Individually Evaluated for Impairment	295,000		295,000
Ending Balance: Collectively Evaluated for Impairment	30,753,000		30,753,000
Loans Receivable | Consumer and Other
Allowance for Loan Losses:
Balance at Beginning of Period	$ 4,000	3,000	4,000	4,000
Provision for Loan Losses		$ 1,000	2,000	3,000
Loans Charged-Off			$ (2,000)	(4,000)
Recoveries of Loans Previously Charged-Off				1,000
Balance at End of Period	$ 4,000	$ 4,000	$ 4,000	$ 4,000
Loans and Leases Receivable, Allowance [Abstract]
Ending Balance: Individually Evaluated for Impairment
Ending Balance: Collectively Evaluated for Impairment	$ 4,000	$ 4,000	$ 4,000	$ 4,000
Loans:
Ending Balance: Individually Evaluated for Impairment
Ending Balance: Collectively Evaluated for Impairment	$ 406,000		$ 406,000
Loans Receivable | Unallocated
Allowance for Loan Losses:
Balance at Beginning of Period	28,000	1,000	32,000	53,000
Provision for Loan Losses	$ 14,000	$ 40,000	$ 10,000	$ (12,000)
Loans Charged-Off
Recoveries of Loans Previously Charged-Off
Balance at End of Period	$ 42,000	$ 41,000	$ 42,000	$ 41,000
Loans and Leases Receivable, Allowance [Abstract]
Ending Balance: Individually Evaluated for Impairment
Ending Balance: Collectively Evaluated for Impairment	$ 42,000	$ 41,000	$ 42,000	$ 41,000

LOANS AND ALLOWANCE FOR LOAN 32

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) - Loans Receivable - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	$ 49,074,000	$ 52,484,000
Commercial Business
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	1,787,000	1,880,000
Commercial and Multi-Family Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	15,833,000	15,993,000
Residential Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	31,048,000	34,179,000
Consumer and Other
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	406,000	432,000
Unclassified
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	48,411,000	50,848,000
Unclassified | Commercial Business
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	1,787,000	1,631,000
Unclassified | Commercial and Multi-Family Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	15,833,000	15,993,000
Unclassified | Residential Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	30,385,000	32,795,000
Unclassified | Consumer and Other
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	406,000	429,000
Special Mention
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	$ 110,000	877,000
Special Mention | Commercial Business
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross		$ 198,000
Special Mention | Commercial and Multi-Family Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross
Special Mention | Residential Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	$ 110,000	$ 679,000
Special Mention | Consumer and Other
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross
Substandard
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	$ 553,000	$ 759,000
Substandard | Commercial Business
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross		$ 51,000
Substandard | Commercial and Multi-Family Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross
Substandard | Residential Real Estate
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross	$ 553,000	$ 705,000
Substandard | Consumer and Other
Financing Receivable, Modifications [Line Items]
Loans and Leases Receivable, Gross		$ 3,000

LOANS AND ALLOWANCE FOR LOAN 33

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) - Loans Receivable - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 48,681,000	$ 51,371,000
Total Nonaccrual	295,000	644,000
Total	49,074,000	52,484,000
30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest	$ 98,000	157,000
90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest		312,000
Commercial Business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 1,787,000	$ 1,880,000
Total Nonaccrual
Total	$ 1,787,000	$ 1,880,000
Commercial Business | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest
Commercial Business | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest
Commercial and Multi-Family Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 15,821,000	$ 15,942,000
Total Nonaccrual		51,000
Total	$ 15,833,000	$ 15,993,000
Commercial and Multi-Family Real Estate | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest	$ 12,000
Commercial and Multi-Family Real Estate | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 30,678,000	$ 33,132,000
Total Nonaccrual	295,000	590,000
Total	31,048,000	34,179,000
Residential Real Estate | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest	$ 75,000	145,000
Residential Real Estate | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest		312,000
Consumer and Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 395,000	417,000
Total Nonaccrual		3,000
Total	$ 406,000	432,000
Consumer and Other | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest	$ 11,000	$ 12,000
Consumer and Other | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Accruing Interest

LOANS AND ALLOWANCE FOR LOAN 34

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Loans With No Related Allowance Recorded:
Recorded Investment	$ 17,000	$ 17,000	$ 37,000
Interest Income Recognized		4,000	1,000
Loans Receivable
Loans With No Related Allowance Recorded:
Recorded Investment	387,000	387,000	861,000
Unpaid Principal Balance	517,000	517,000	1,033,000
Average Recorded Investment	393,000	393,000	1,251,000
Interest Income Recognized	4,000	13,000
Total Impaired Loans:
Recorded Investment	681,000	681,000	1,241,000
Unpaid Principal Balance	824,000	824,000	1,413,000
Related Allowance	15,000	15,000	20,000
Average Recorded Investment	699,000	696,000
Interest Income Recognized	4,000	13,000
Loans Receivable | Commercial and Multi-Family Real Estate
Loans With No Related Allowance Recorded:
Recorded Investment	386,000	386,000	574,000
Unpaid Principal Balance	386,000	386,000	615,000
Average Recorded Investment	389,000	389,000	584,000
Interest Income Recognized	3,000	9,000
Total Impaired Loans:
Recorded Investment	386,000	386,000	574,000
Unpaid Principal Balance	$ 386,000	$ 386,000	$ 615,000
Related Allowance
Average Recorded Investment	$ 389,000	$ 389,000
Interest Income Recognized	3,000	9,000
Loans Receivable | Residential Real Estate
Loans With No Related Allowance Recorded:
Recorded Investment	1,000	1,000	$ 287,000
Unpaid Principal Balance	131,000	131,000	418,000
Average Recorded Investment	4,000	4,000	667,000
Interest Income Recognized	1,000	4,000
Loans With an Allowance Recorded:
Recorded Investment	294,000	294,000	380,000
Unpaid Principal Balance	307,000	307,000	380,000
Related Allowance	15,000	15,000	20,000
Average Recorded Investment	$ 306,000	$ 303,000
Interest Income Recognized
Total Impaired Loans:
Recorded Investment	$ 295,000	$ 295,000	667,000
Unpaid Principal Balance	438,000	438,000	798,000
Related Allowance	15,000	15,000	$ 20,000
Average Recorded Investment	310,000	307,000
Interest Income Recognized	$ 1,000	$ 4,000

LOANS AND ALLOWANCE FOR LOAN 35

LOANS AND ALLOWANCE FOR LOAN LOSSES (Detail Textuals) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 48,793,000		$ 48,793,000		$ 52,184,000
Interest income recognized on nonaccrual loans			4,000	$ 1,000
Interest recorded for nonaccrual loans	17,000	$ 37,000	17,000	37,000
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	48,793,000		48,793,000		52,184,000
Interest income recognized on nonaccrual loans	4,000		13,000
Average Recorded Investment	393,000		393,000	1,251,000
Interest recorded for nonaccrual loans	387,000	861,000	387,000	861,000
Loans Receivable | Construction Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,145,000		1,145,000		826,000
Loans in process	1,471,000		1,471,000		282,000
Loans Receivable | Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	10,639,000		10,639,000		$ 11,759,000
Interest income recognized on nonaccrual loans	1,000		4,000
Average Recorded Investment	4,000		4,000	667,000
Interest income on impaired loans		1,000
Interest recorded for nonaccrual loans	1,000	287,000	1,000	287,000
Loans Receivable | Commercial and Multi-Family Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income recognized on nonaccrual loans	3,000		9,000
Average Recorded Investment	389,000		389,000	584,000
Interest recorded for nonaccrual loans	$ 386,000	$ 574,000	$ 386,000	$ 574,000

FORECLOSED ASSETS (Details)

FORECLOSED ASSETS (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]
Balance Beginning of Period	$ 243,000	$ 243,000
Additions	$ 365,000
Sales
Loss on Sales
Balance at End of Period	$ 608,000	$ 243,000

FINANCIAL INSTRUMENTS WITH OF37

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total financial instruments with off-balance sheet risk	$ 4,288,000	$ 2,604,000
Commitments to Extend Credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total financial instruments with off-balance sheet risk	4,273,000	2,589,000
Standby Letters of Credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total financial instruments with off-balance sheet risk	$ 15,000	$ 15,000

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Regulatory Matters [Abstract]
Total Capital to Risk Weighted Assets, Actual Amount	$ 13,807,000	$ 13,863,000
Total Capital to Risk Weighted Assets, Actual Ratio	39.20%	34.70%
Total Capital to Risk Weighted Assets, Minimum Capital Requirement Amount	$ 2,818,000	$ 3,199,000
Total Capital to Risk Weighted Assets, Minimum Capital Requirement Ratio	8.00%	8.00%
Total Capital to Risk Weighted Assets, Minimum to be Well Capitalized Amount	$ 3,522,000	$ 3,998,000
Total Capital to Risk Weighted Assets, Minimum to be Well Capitalized Ratio	10.00%	10.00%
Tier I Capital to Risk Weighted Assets, Actual Amount	$ 13,546,000	$ 13,571,000
Tier I Capital to Risk Weighted Assets, Actual Ratio	38.50%	33.90%
Tier I Capital to Risk Weighted Assets, Minimum Capital Requirement Amount	$ 2,113,000	$ 1,599,000
Tier I Capital to Risk Weighted Assets, Minimum Capital Requirement Ratio	6.00%	4.00%
Tier I Capital to Risk Weighted Assets, Minimum to be Well Capitalized Amount	$ 2,818,000	$ 2,399,000
Tier I Capital to Risk Weighted Assets, Minimum to be Well Capitalized Ratio	8.00%	6.00%
Common Equity Tier I Capital to Risk Weighted Assets, Actual Amount	$ 13,546,000
Common Equity Tier I Capital to Risk Weighted Assets, Actual Ratio	38.50%
Common Equity Tier I Capital to Risk Weighted Assets, Minimum Capital Requirement Amount	$ 1,585,000
Common Equity Tier I Capital to Risk Weighted Assets, Minimum Capital Requirement Ratio	4.50%
Common Equity Tier I Capital to Risk Weighted Assets, Minimum to be Well Capitalized Amount	$ 2,289,000
Common Equity Tier I Capital to Risk Weighted Assets, Minimum to be Well Capitalized Ratio	6.50%
Tier I Capital to Average Assets, Actual Amount	$ 13,546,000	$ 13,571,000
Tier I Capital to Average Assets, Actual Ratio	21.80%	21.20%
Tier I Capital to Average Assets , Minimum Capital Requirement Amount	$ 2,488,000	$ 2,558,000
Tier I Capital to Average Assets, Minimum Capital Requirement Ratio	4.00%	4.00%
Tier I Capital to Average Assets, Minimum to be Well Capitalized Amount	$ 3,110,000	$ 3,198,000
Tier I Capital to Average Assets, Minimum to be Well Capitalized Ratio	5.00%	5.00%

REGULATORY MATTERS (Detail Text

REGULATORY MATTERS (Detail Textuals)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Regulated Operations [Abstract]
Common Equity Tier I Capital to Risk Weighted Assets, Minimum to be Well Capitalized Ratio	6.50%
Tier I Capital to Risk Weighted Assets, Minimum to be Well Capitalized Ratio	8.00%	6.00%
Leverage ratio to be adequately capitalized	3.00%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	$ 442,000	$ 31,000
Municipal Obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	410,000
Federal Home Loan Mortgage Corp. Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	32,000	31,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	442,000
Fair Value, Measurements, Recurring | Municipal Obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	410,000
Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corp. Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	32,000	31,000
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	$ 32,000
Fair Value, Measurements, Recurring | Level 1 | Municipal Obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale
Fair Value, Measurements, Recurring | Level 1 | Federal Home Loan Mortgage Corp. Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	$ 32,000	$ 31,000
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	410,000
Fair Value, Measurements, Recurring | Level 2 | Municipal Obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	$ 410,000
Fair Value, Measurements, Recurring | Level 2 | Federal Home Loan Mortgage Corp. Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale
Fair Value, Measurements, Recurring | Level 3 | Municipal Obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale
Fair Value, Measurements, Recurring | Level 3 | Federal Home Loan Mortgage Corp. Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale

FAIR VALUE MEASUREMENTS (Deta41

FAIR VALUE MEASUREMENTS (Details 1) - Fair Value, Measurements, Nonrecurring - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Losses	$ 15,000	$ 104,000
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans	$ 279,000	$ 265,000

FAIR VALUE OF FINANCIAL INSTR42

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financial Assets:
Cash and Cash Equivalents	$ 7,950,000	$ 7,902,000	$ 8,840,000	$ 7,258,000
Certificates of Deposit in Other Financial Institutions	2,480,000	2,480,000
Loans, net	48,793,000	52,184,000
Accrued Interest Receivable	120,000	122,000
Financial Liabilities:
Deposits	48,051,000	50,282,000
Carrying Amount | Level 1
Financial Assets:
Cash and Cash Equivalents	7,950,000	7,902,000
Carrying Amount | Level 2
Financial Assets:
Certificates of Deposit in Other Financial Institutions	2,480,000	2,480,000
FHLB Stock	77,000	78,000
Accrued Interest Receivable	120,000	122,000
Financial Liabilities:
Accrued Interest Payable	6,000	1,000
Carrying Amount | Level 3
Financial Assets:
Loans, net	48,793,000	52,184,000
Financial Liabilities:
Deposits	48,051,000	50,282,000
Fair Value | Level 1
Financial Assets:
Cash and Cash Equivalents	7,950,000	7,902,000
Fair Value | Level 2
Financial Assets:
Certificates of Deposit in Other Financial Institutions	2,511,000	2,519,000
FHLB Stock	77,000	78,000
Accrued Interest Receivable	120,000	122,000
Financial Liabilities:
Accrued Interest Payable	6,000	1,000
Fair Value | Level 3
Financial Assets:
Loans, net	49,164,000	52,031,000
Financial Liabilities:
Deposits	$ 48,342,000	$ 50,624,000

SUBSEQUENT EVENT - CONVERSION (

SUBSEQUENT EVENT - CONVERSION (Detail Textuals) - Plan Of Conversion	9 Months Ended
	Sep. 30, 2015USD ($)$ / shares
Subsequent Event [Line Items]
Stock price per share (in dollars per share) | $ / shares	$ 10
Percentage of common stock subscription under employee stock ownership plan	8.00%
Deferred conversion costs	$ 471,000
Payments for funding charitable foundation	$ 100,000
Percentage of common stock for funding charitable foundation	4.00%