Citizens Bancshares 10-Q 15 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 11, 2016
Entity Registrant Name	CITIZENS BANCSHARES CORP /GA/
Entity Central Index Key	813,640
Document Type	10-Q
Trading Symbol	CZBS
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016
Common Stock [Member]
Entity Common Stock, Shares Outstanding		2,079,997
Nonvoting Common Stock [Member]
Entity Common Stock, Shares Outstanding		90,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 2,948	$ 2,577
Federal funds sold	16,537	16,500
Interest-bearing deposits with banks	53,098	29,820
Certificates of deposit	900	900
Investment securities available for sale, at fair value	114,732	123,258
Other investments	958	965
Loans receivable, net	197,097	184,836
Premises and equipment, net	6,649	6,136
Cash surrender value of life insurance	10,224	10,090
Other real estate owned	2,849	4,463
Other assets	8,184	9,075
Total assets	414,176	388,620
LIABILITIES:
Noninterest-bearing deposits	91,919	88,543
Interest-bearing deposits	259,326	240,319
Total deposits	351,245	328,862
Accrued expenses and other liabilities	4,843	4,147
Advances from Federal Home Loan Bank	5,225	5,235
Total liabilities	361,313	338,244
STOCKHOLDERS' EQUITY:
Additional paid-in capital	8,322	8,344
Retained earnings	30,756	29,941
Treasury stock at cost, 250,030 and 241,454 shares at June 30, 2016 and December 31, 2015, respectively	(1,991)	(1,930)
Accumulated other comprehensive income (loss), net of income taxes	1,573	(71)
Total stockholders' equity	52,863	50,376
Total liabilities and stockholders' equity	414,176	388,620
Series B Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Preferred stock	7,462	7,462
Series C Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Preferred stock	4,379	4,379
Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	2,330	2,308
Nonvoting Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	90	90
Nonvested Restricted Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	$ (58)	$ (147)

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Treasury stock, shares	250,030	241,454
Series B Preferred Stock [Member]
Preferred stock, no par value (in dollars per share)
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	7,462	7,462
Preferred stock, shares outstanding	7,462	7,462
Series C Preferred Stock [Member]
Preferred stock, no par value (in dollars per share)
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	4,379	4,379
Preferred stock, shares outstanding	4,379	4,379
Common Stock [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	2,330,028	2,308,228
Common stock, shares outstanding	2,330,028	2,308,228
Nonvoting Common Stock [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	90,000	90,000
Common stock, shares outstanding	90,000	90,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest income:
Loans, including fees	$ 2,406	$ 2,439	$ 4,703	$ 4,842
Investment securities:
Taxable	466	470	976	977
Tax-exempt	199	218	408	453
Federal funds sold	28		56
Interest-bearing deposits	56	37	115	66
Total interest income	3,155	3,164	6,258	6,338
Interest expense:
Deposits	159	179	325	363
Other borrowings	6		9
Total interest expense	165	179	334	363
Net interest income	2,990	2,985	5,924	5,975
Provision for (recovery of) loan losses	(175)	50	(100)	125
Net interest income after provision for loan losses	3,165	2,935	6,024	5,850
Noninterest income:
Service charges on deposits	659	665	1,303	1,333
Gain on sales of securities		121		312
Other operating income	544	273	803	578
Total noninterest income	1,203	1,059	2,106	2,223
Noninterest expense:
Salaries and employee benefits	1,685	1,689	3,419	3,365
Net occupancy and equipment	506	524	981	1,025
Amortization of core deposit intangible		118	118	236
FDIC insurance	61	75	147	168
Other real estate owned, net	(3)	92	(136)	111
Other operating expenses	1,086	1,082	2,134	2,233
Total noninterest expense	3,335	3,580	6,663	7,138
Income before income taxes	1,033	414	1,467	935
Income tax expense	284	66	360	159
Net income	749	348	1,107	776
Preferred dividends	59	59	118	118
Net income available to common stockholders	$ 690	$ 289	$ 989	$ 658
Net income per common share - basic (in dollars per share)	$ 0.31	$ 0.13	$ 0.45	$ 0.3
Net income per common share - diluted (in dollars per share)	$ 0.31	$ 0.13	$ 0.45	$ 0.3
Weighted average common outstanding shares - basic (in shares)	2,207	2,183	2,205	2,180
Weighted average common outstanding shares - diluted (in shares)	2,209	2,212	2,207	2,209

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statements Of Comprehensive Income
Net Income	$ 749	$ 348	$ 1,107	$ 776
Other Comprehensive Income
Unrealized holding gain (loss) on investment securities available for sale, net of tax	422	(765)	1,644	(236)
Reclassification adjustment for realized gains (loss) included in net income, net of tax		(80)		(206)
Other Comprehensive Income (loss)	422	(845)	1,644	(442)
Total Comprehensive Income (loss)	$ 1,171	$ (497)	$ 2,751	$ 334

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statements Of Comprehensive Income Parenthetical
Unrealized holding gain (loss) on investment securities available for sale, tax	$ 217	$ (397)	$ 848	$ (126)
Reclassification adjustment for holding gains included in net income, tax	$ 0	$ (41)		$ (106)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Nonvoting Common Stock [Member]	Nonvested Restricted Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at beginning at Dec. 31, 2014	$ 11,841	$ 2,303	$ 90	$ (107)	$ 8,119	$ 28,532	$ (1,882)	$ 670	$ 49,566
Balance at beginning (in shares) at Dec. 31, 2014	12	2,303	90				(236)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						776			776
Other comprehensive loss								(442)	$ (442)
Issuance of common stock		$ 5			38		$ (48)
Issuance of common stock (in shares)		5					(5)		(5)
Nonvested restricted stock				(160)	187				$ 27
Dividends declared - preferred						(118)			(118)
Dividends declared - common						(174)			(174)
Balance at end at Jun. 30, 2015	$ 11,841	$ 2,308	$ 90	(267)	8,344	29,016	$ (1,930)	228	49,630
Balance at end (in shares) at Jun. 30, 2015	12	2,308	90				(241)
Balance at beginning at Dec. 31, 2015	$ 11,841	$ 2,308	$ 90	(147)	8,344	29,941	$ (1,930)	(71)	50,376
Balance at beginning (in shares) at Dec. 31, 2015	12	2,308	90				(241)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						1,107			1,107
Other comprehensive loss								1,644	1,644
Issuance of common stock		$ 22			(157)		$ (61)		(196)
Issuance of common stock (in shares)		22					(9)
Nonvested restricted stock				89	135				224
Dividends declared - preferred						(118)			(118)
Dividends declared - common						(174)			(174)
Balance at end at Jun. 30, 2016	$ 11,841	$ 2,330	$ 90	$ (58)	$ 8,322	$ 30,756	$ (1,991)	$ 1,573	$ 52,863
Balance at end (in shares) at Jun. 30, 2016	12	2,330	90				(250)

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
OPERATING ACTIVITIES:
Net income	$ 749	$ 348	$ 1,107	$ 776
Adjustments to reconcile net income to net cash provided by operating activities:
(Recovery of) Provision for loan losses	(175)	50	(100)	125
Depreciation			293	273
Amortization and accretion, net			318	512
Provision for deferred income tax			199	477
Gains on sales of securities				(312)
Restricted stock based compensation plan			224	27
Decrease in carrying value of other real estate owned			98	53
Net gain on sale of other real estate owned			(269)	(12)
Bank owned life insurance income			(134)	(106)
Change in other assets			(272)	118
Change in accrued expenses and other liabilities			696	(920)
Net cash provided by operating activities			2,160	1,011
INVESTING ACTIVITIES:
Proceeds from calls of investment securities held to maturity				240
Proceeds from the sales, maturities and paydowns of securities available for sale			11,376	22,602
Purchases of investment securities available for sale			(650)	(19,316)
Net change in other investments			7	(7)
Net change in loans receivable			(12,561)	(6,037)
Proceeds from the sale of other real estate owned			2,140	545
Redemption of bank owned life insurance				2,232
Purchases of premises and equipment, net			(806)	(126)
Net cash provided by (used in) investing activities			(494)	133
FINANCING ACTIVITIES:
Net change in deposits			22,383	(3,787)
Net change in advances from Federal Home Loan Bank			(10)	(10)
Restricted stock remitted by employees for taxes			(61)	(5)
Dividends paid - preferred			(118)	(118)
Dividends paid - common			(174)	(174)
Net cash provided by (used in) financing activities			22,020	(4,094)
Net change in cash and cash equivalents			23,686	(2,950)
Cash and cash equivalents, beginning of period			48,897	48,411	$ 48,411
Cash and cash equivalents at end of period	$ 72,583	$ 45,461	72,583	45,461	48,897
Supplemental disclosures of cash paid during the period for:
Interest			337	359
Income taxes			30	20
Supplemental disclosures of noncash transactions:
Real estate acquired through foreclosure			355	94	$ 976
Change in unrealized gain on investment securities available for sale, net of taxes			$ 1,644	$ (442)

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Citizens Bancshares Corporation (the “Company”) is a holding company that provides a full range of commercial and personal banking services to individual and corporate customers in metropolitan Atlanta and Columbus, Georgia, and in Birmingham and Eutaw, Alabama, through its wholly owned subsidiary, Citizens Trust Bank (the “Bank”). The Bank operates under a state charter and serves its customers through seven full-service financial centers in metropolitan Atlanta, Georgia, one full-service financial center in Columbus, Georgia, one full-service financial center in Birmingham, Alabama, and one full-service financial center in Eutaw, Alabama. The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain disclosures required by generally accepted accounting principles are not included herein. These interim statements should be read in conjunction with the financial statements and notes thereto included in the Company’s latest Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2015. The results of operations for the interim periods reported herein are not necessarily representative of the results expected for the full 2016 fiscal year. The consolidated financial statements of the Company for the three and six month periods ended June 30, 2016 are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the financial position and results of operations and cash flows for the three month period have been included. All adjustments are of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. Accounting Policies The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which often require the judgment of management in the selection and application of certain accounting principles and methods. Reference is made to the accounting policies of the Company described in the notes to the consolidated financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company has followed those policies in preparing this report. Management believes that the quality and reasonableness of its most critical policies enable the fair presentation of its financial position and of its results of operations. Troubled Asset Relief Program On August 13, 2010, as part of the U.S. Department of the Treasury (the “Treasury”) Troubled Asset Relief Program (“TARP”) Community Development Capital Initiative, the Company entered into a Letter Agreement, and an Exchange Agreement–Standard Terms (“Exchange Agreement”), with the Treasury, pursuant to which the Company agreed to exchange 7,462 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Shares”), issued on March 6, 2009, pursuant to the Company’s participation in the TARP Capital Purchase Program, for 7,462 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series B (“Series B Preferred Shares”) issued pursuant to the TARP Community Development Capital Initiative, both of which have a liquidation preference of $1,000 (the “Exchange Transaction”). No new monetary consideration was exchanged in connection with the Exchange Transaction. The Exchange Transaction closed on August 13, 2010 (the “Closing Date”). On September 17, 2010, the Company issued 4,379 shares of its Series C Preferred Shares to the Treasury as part of its TARP Community Development Capital Initiative for a total of 11,841 shares of Series B and C Preferred Shares issued to Treasury. The issuance of the Series B and Series C Preferred Shares was a private placement exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended. The Series B and Series C Preferred Shares qualify as Tier 1 capital and will pay cumulative dividends at a rate of 2% per annum for the first eight years after the Closing Date and 9% per annum thereafter. The Company may, subject to consultation with the Federal Reserve Bank of Atlanta, redeem the Series B and Series C Preferred Shares at any time for its aggregate liquidation amount plus any accrued and unpaid dividends. Recently Issued Accounting Standards In May 2014, the FASB issued guidance to change the recognition of revenue from contracts with customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for reporting periods beginning after December 15, 2017. The Company will apply the guidance using a full retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements. In February 2015, the FASB issued guidance which amends the consolidation requirements and significantly changes the consolidation analysis required under U.S. GAAP. Although the amendments are expected to result in the deconsolidation of many entities, the Company will need to reevaluate all its previous consolidation conclusions. The amendment was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. These amendments did not have a material effect on its financial statements. In August 2015, the FASB deferred the effective date of ASU 2014-09, Revenue from Contracts with Customers In November 2015, the FASB amended the Income Taxes topic of the Accounting Standards Codification to simplify the presentation of deferred income taxes by requiring that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments will be effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, with early adoption permitted as of the beginning of an interim or annual reporting period. The Company will apply the guidance prospectively. The Company does not expect these amendments to have a material effect on its financial statements. In January 2016, the FASB amended the Financial Instruments topic of the Accounting Standards Codification to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will apply the guidance by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values will be applied prospectively to equity investments that exist as of the date of adoption of the amendments. The Company does not expect these amendments to have a material effect on its financial statements. In February 2016, the FASB amended the Leases topic of the Accounting Standards Codification to revise certain aspects of recognition, measurement, presentation, and disclosure of leasing transactions. The amendments will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows. In March 2016, the FASB amended the Revenue from Contracts with Customers topic of the Accounting Standards Codification to clarify the implementation guidance on principal versus agent considerations and address how an entity should assess whether it is the principal or the agent in contracts that include three or more parties. In March 2016, the FASB issued guidance to simplify several aspects of the accounting for share-based payment award transactions including the income tax consequences, the classification of awards as either equity or liabilities, and the classification on the statement of cash flows. Additionally, the guidance simplifies two areas specific to entities other than public business entities allowing them apply a practical expedient to estimate the expected term for all awards with performance or service conditions that have certain characteristics and also allowing them to make a one-time election to switch from measuring all liability-classified awards at fair value to measuring them at intrinsic value. The amendments will be effective for the Company for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company does not expect these amendments to have a material effect on its financial statements. In June 2016, the FASB issued guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. The amendments will be effective for the Company for reporting periods beginning after December 15, 2019. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

INVESTMENT

INVESTMENT	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	2. INVESTMENTS Investment securities available for sale are summarized as follows (in thousands): At June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State, county, and municipal securities $ 26,972 $ 1,382 $ — $ 28,354 Mortgage-backed securities 85,376 1,119 117 86,378 Totals $ 112,348 $ 2,501 $ 117 $ 114,732 At December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State, county, and municipal securities $ 28,248 $ 1,223 $ 14 $ 29,457 Mortgage-backed securities 93,118 65 1,383 91,800 Corporate securities 2,000 1 — 2,001 Totals $ 123,366 $ 1,289 $ 1,397 $ 123,258 At June 30, 2016 and December 31, 2015, there were no investment securities held to maturity. The amortized costs and fair values of investment securities at June 30, 2016, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with and without call or prepayment penalties (in thousands). Available for Sale Amortized Fair Cost Value Due in one year or less $ 822 $ 824 Due after one year through five years 4,237 4,418 Due after five years through ten years 30,276 31,743 Due after ten years 77,013 77,747 $ 112,348 $ 114,732 Securities with carrying values of $81,735,000 and $93,161,000 as of June 30, 2016 and December 31, 2015, respectively, were pledged to secure public deposits, FHLB advances and a $28,227,000 line of credit at the Federal Reserve Bank discount window and for other purposes as required by law. There were no sales of securities during the three or six months ended June 30, 2016. During the first half of 2015, proceeds from the sale of securities were $12,385,000 and gross realized gains on sales of securities were $312,000. For the three month period ended June 30, 2015, gross realized gains on securities were $121,000. There were no gross realized losses on sales of securities during the three and six month periods ended June 30, 2016 and 2015. The Company’s investment portfolio consists principally of obligations of the United States, its agencies, or its corporations, general obligation and revenue municipals and corporate securities. In the opinion of management, there is no concentration of credit risk in its investment portfolio. The company places its deposits and correspondent accounts with and sells its federal funds to high quality institutions. Management believes credit risk associated with correspondent accounts is not significant. The following tables show investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at June 30, 2016 and December 31, 2015. Except as explicitly identified below, all unrealized losses on investment securities are considered by management to be temporarily impaired given the credit ratings on these investment securities and the short duration of the unrealized loss (in thousands): At June 30, 2016 Securities Available for Sale Securities in a loss position for Securities in a loss position for less than twelve months twelve months or more Total Unrealized Unrealized Unrealized Fair value losses Fair value losses Fair value losses Mortgage-backed securities $ — $ — $ 17,877 $ (117 ) $ 17,877 $ (117 ) Municipal securities — — — — — — Total $ — $ — $ 17,877 $ (117 ) $ 17,877 $ (117 ) At December 31, 2015 Securities Available for Sale Securities in a loss position for Securities in a loss position for less than twelve months twelve months or more Total Unrealized Unrealized Unrealized Fair value losses Fair value losses Fair value losses Mortgage-backed securities $ 63,533 $ (723 ) $ 21,333 $ (660 ) $ 84,866 $ (1,383 ) Municipal securities 2,587 (14 ) — — 2,587 (14 ) Total $ 66,120 $ (737 ) $ 21,333 $ (660 ) $ 87,453 $ (1,397 ) The Company’s available for sale portfolio had thirteen (13) investment securities at June 30, 2016 that were in an unrealized loss position for longer than twelve months. At December 31, 2015, the Company had fifteen (15) investment securities that were in an unrealized loss position for longer than twelve months. The Company reviews these securities for other-than-temporary impairment on a quarterly basis by monitoring their credit support and coverage, constant payment of the contractual principal and interest, loan to value and delinquencies ratios. We use prices from third party pricing services and, to a lesser extent, indicative (non-binding) quotes from third party brokers, to measure fair value of our investment securities. Fair values of the investment securities portfolio could decline in the future if the underlying performance of the collateral for collateralized mortgage obligations or other securities deteriorates and the levels do not provide sufficient protection for contractual principal and interest. As a result, there is risk that an other-than-temporary impairment may occur in the future particularly in light of the current economic environment. As of the date of its evaluation, the Company did not intend to sell and has the ability to hold these securities and it is more likely than not that the Company will not be required to sell those securities before recovery of its amortized cost or the security matures. The Company believes, based on industry analyst reports and credit ratings, that it will continue to receive scheduled interest payments as well as the entire principal balance, and the deterioration in value is attributable to changes in market interest rates and is not in the credit quality of the issuer and therefore, these losses are not considered other-than-temporary.

LOANS RECEIVABLE AND ALLOWANCE

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Jun. 30, 2016
Loans and Leases Receivable Disclosure [Abstract]
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES	3. LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES Loans outstanding, by classification, are summarized as follows (in thousands): June 30, December 31, 2016 2015 Commercial, financial, and agricultural $ 44,345 $ 42,748 Commercial Real Estate 108,436 104,092 Single-Family Residential 32,184 31,096 Construction and Development 6,838 2,220 Consumer 7,352 6,804 199,155 186,960 Allowance for loan losses 2,058 2,124 $ 197,097 $ 184,836 Activity in the allowance for loan losses by portfolio segment is summarized as follows (in thousands): For the Three Month Period Ended June 30, 2016 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 604 $ 952 $ 364 $ 6 $ 226 $ 2,152 Recovery of loan losses (181 ) (164 ) 176 3 (9 ) (175 ) Loans charged-off — (179 ) (58 ) — (19 ) (256 ) Recoveries on loans charged-off 5 316 1 — 15 337 Ending Balance $ 428 $ 925 $ 483 $ 9 $ 213 $ 2,058 For the Six Month Period Ended June 30, 2016 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 342 $ 1,170 $ 435 $ 3 $ 174 $ 2,124 Recovery of loan losses 105 (386 ) 70 6 105 (100 ) Loans charged-off (30 ) (179 ) (101 ) — (97 ) (407 ) Recoveries on loans charged-off 11 320 79 — 31 441 Ending Balance $ 428 $ 925 $ 483 $ 9 $ 213 $ 2,058 For the Three Month Period Ended June 30, 2015 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 289 $ 1,308 $ 350 $ 52 $ 227 $ 2,226 Provision for loan losses 346 (228 ) (10 ) (48 ) (10 ) 50 Loans charged-off — — (73 ) — (56 ) (129 ) Recoveries on loans charged-off 5 111 23 5 30 174 Ending Balance $ 640 $ 1,191 $ 290 $ 9 $ 191 $ 2,321 For the Six Month Period Ended June 30, 2015 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 415 $ 1,366 $ 254 $ 72 $ 192 $ 2,299 Provision for loan losses 215 (268 ) 182 (69 ) 65 125 Loans charged-off — (83 ) (170 ) — (111 ) (364 ) Recoveries on loans charged-off 10 176 24 6 45 261 Ending Balance $ 640 $ 1,191 $ 290 $ 9 $ 191 $ 2,321 Portions of the allowance for loan losses may be allocated for specific loans or portfolio segments. However, the entire allowance for loan losses is available for any loan that, in the judgment of management, should be charged-off. In determining our allowance for loan losses, we regularly review loans for specific reserves based on the appropriate impairment assessment methodology. Consumer residential loans are evaluated as a homogeneous population and therefore loans are not evaluated individually for impairment. General reserves are determined using historical loss trends measured over a rolling four quarter average for consumer loans, and a three year average loss factor for commercial loans which is applied to risk rated loans grouped by Federal Financial Examination Council (“FFIEC”) call code. For commercial loans, the general reserves are calculated by applying the appropriate historical loss factor to the loan pool. Impaired loans greater than a minimum threshold established by management are excluded from this analysis. The sum of all such amounts determines our total allowance for loan losses. The allocation of the allowance for loan losses by portfolio segment was as follows (in thousands): At June 30, 2016 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Specific Reserves: Impaired loans $ 74 $ 426 $ 180 $ — $ — $ 680 Total specific reserves 74 426 180 — — 680 General reserves 354 499 303 9 213 1,378 Total $ 428 $ 925 $ 483 $ 9 $ 213 $ 2,058 Loans individually evaluated for impairment $ 150 $ 9,884 $ 426 $ — $ — $ 10,460 Loans collectively evaluated for impairment 44,195 98,552 31,758 6,838 7,352 188,695 Total $ 44,345 $ 108,436 $ 32,184 $ 6,838 $ 7,352 $ 199,155 At December 31, 2015 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Specific Reserves: Impaired loans $ — $ 550 $ 100 $ — $ — $ 650 Total specific reserves — 550 100 — — 650 General reserves 342 620 335 3 174 1,474 Total $ 342 $ 1,170 $ 435 $ 3 $ 174 $ 2,124 Loans individually evaluated for impairment $ — $ 9,392 $ 417 $ — $ — $ 9,809 Loans collectively evaluated for impairment 42,748 94,700 30,679 2,220 6,804 177,151 Total $ 42,748 $ 104,092 $ 31,096 $ 2,220 $ 6,804 $ 186,960 The following table presents impaired loans by class of loan (in thousands): At June 30, 2016 Impaired Loans - With Impaired Loans - With Allowance no Allowance Unpaid Principal Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Recorded Investment Residential: First mortgages $ — $ — $ — $ — $ — HELOC’s and equity 263 217 180 296 209 Commercial Secured 150 150 74 — — Unsecured — — — — — Commercial Real Estate: Owner occupied 406 406 416 8,516 7,901 Non-owner occupied 608 10 10 1,627 1,567 Multi-family — — — — — Construction and Development: Construction — — — — — Improved Land — — — — — Unimproved Land — — — — — Consumer and Other — — — — — Total $ 1,427 $ 783 $ 680 $ 10,439 $ 9,677 The following table presents the average recorded investment and interest income recognized on impaired loans by class of loan (in thousands): Six Months Ended Six Months Ended June 30, 2016 June 30, 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Residential: First mortgages $ — $ — $ — $ — HELOC’s and equity 388 5 214 26 Commercial: Secured 150 — — — Unsecured — — — — Commercial Real Estate: Owner occupied 8,593 129 8,526 200 Non-owner occupied 1,997 13 2,841 127 Multi-family — — 50 30 Construction and Development: Construction — — — — Improved Land — — — — Unimproved Land — — — — Consumer and Other — — — — Total $ 11,128 $ 147 $ 11,631 $ 383 At December 31, 2015 Impaired Loans - With Impaired Loans - With Allowance no Allowance Unpaid Principal Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Recorded Investment Average Recorded Investment Interest Income Recognized Residential: First mortgages $ — $ — $ — $ — $ — $ — $ — HELOC’s and equity 134 134 100 304 283 209 43 Commercial Secured — — — — — — — Unsecured — — — — — — — Commercial Real Estate: Owner occupied 4,115 4,115 356 4,456 3,972 8,666 391 Non-owner occupied 691 691 194 667 614 1,679 193 Multi-family — — — — — — — Construction and Development Construction — — — — — — — Improved Land — — — — — — — Consumer and Other — — — — — — Total $ 4,940 $ 4,940 $ 650 $ 5,427 $ 4,869 $ 10,554 $ 627 The following table is an aging analysis of our loan portfolio (in thousands): At June 30, 2016 30- 59 Days Past Due 60- 89 Days Past Due Over 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing Nonaccrual Residential: First mortgages $ — $ 368 $ 664 $ 1,032 $ 19,345 $ 20,377 $ — $ 1,160 HELOC’s and equity 303 106 139 548 11,259 11,807 — 278 Commercial: Secured — 1 150 151 39,669 39,820 — 150 Unsecured — — — — 4,525 4,525 — — Commercial Real Estate: Owner occupied 728 209 293 1,230 49,406 50,636 — 846 Non-owner occupied 414 27 606 1,047 52,067 53,114 — 699 Multi-family — — — — 4,686 4,686 — — Construction and Development — — — — 6,838 6,838 — — Consumer and Other 1 12 12 25 7,327 7,352 1 11 Total $ 1,446 $ 723 $ 1,864 $ 4,033 $ 195,122 $ 199,155 $ 1 $ 3,144 At December 31, 2015 30- 59 Days Past Due 60- 89 Days Past Due Over 90 Days Past Due Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing Nonaccrual Residential: First mortgages $ 1,581 $ 824 $ 745 $ 3,150 $ 19,253 $ 22,403 $ — $ 1,246 HELOC’s and equity 224 59 173 456 8,237 8,693 — 250 Commercial: Secured 49 — 30 79 36,144 36,223 — 30 Unsecured — — — — 6,525 6,525 — — Commercial Real Estate: Owner occupied 931 336 — 1,267 51,180 52,447 — 933 Non-owner occupied 441 691 — 1,132 45,684 46,816 — 551 Multi-family — — — — 4,829 4,829 — — Construction and Development: Construction — — — — 2,220 2,220 — — Consumer and Other 29 41 6 76 6,728 6,804 — 6 Total $ 3,255 $ 1,951 $ 954 $ 6,160 $ 180,800 $ 186,960 $ — $ 3,016 Each of our portfolio segments and the classes within those segments are subject to risks that could have an adverse impact on the credit quality of our loan and lease portfolio. Management has identified the most significant risks as described below which are generally similar among our segments and classes. While the list is not exhaustive, it provides a description of the risks that management has determined are the most significant. Commercial, financial and agricultural loans Consumer Commercial Real Estate Single-family Residential Construction and Development Risk categories Loans excluded from the scope of the annual review process above are generally classified as pass credits until: (a) they become past due; (b) management becomes aware of deterioration in the credit worthiness of the borrower; or (c) the customer contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification as to special mention, substandard or even charged off. The Company uses the following definitions for risk ratings: Special Mention Substandard Doubtful The following table presents our loan portfolio by risk rating (in thousands): At June 30, 2016 Total Pass Credits Special Mention Substandard Doubtful Single-Family Residential: First mortgages $ 20,377 $ 19,240 $ — $ 1,137 $ — HELOC’s and equity 11,807 11,253 — 404 150 Commercial, financial, and agricultural: Secured 39,820 39,670 — 150 — Unsecured 4,525 4,525 — — — Commercial Real Estate: Owner occupied 50,636 43,791 1,003 5,842 — Non-owner occupied 53,114 51,510 — 1,604 — Multi-family 4,686 4,387 299 — — Construction and Development 6,838 6,838 — — — Consumer 7,352 7,329 11 10 2 Total $ 199,155 $ 188,543 $ 1,313 $ 9,147 $ 152 At December 31, 2015 Total Pass Credits Special Mention Substandard Doubtful Single-Family Residential: First mortgages $ 22,403 $ 20,729 $ — $ 1,651 $ 23 HELOC’s and equity 8,693 8,004 66 547 76 Commercial, financial, and agricultural: Secured 36,223 36,193 — — 30 Unsecured 6,525 6,525 — — — Commercial Real Estate: Owner occupied 52,447 45,274 1,604 5,569 — Non-owner occupied 46,816 45,458 107 1,251 — Multi-family 4,829 4,524 305 — — Construction and Development 2,220 2,220 — — — Consumer 6,804 6,749 — 16 39 Total $ 186,960 $ 175,676 $ 2,082 $ 9,034 $ 168 During the three and six months ended June 30, 2016, the Company did not modify any loan that was considered to be a troubled debt restructuring. During the three and six months ended June 30, 2015, the Company modified two (2) and four (4) loans, respectively, that were considered to be troubled debt restructurings. We extended the terms and decreased the interest rate on these loans (dollars in thousands). Extended Terms and Decreased Interest Rate Three Months Ended June 30, 2015 Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Troubled Debt Restructurings Residential mortgages 2 $ 86 $ 86 Total 2 $ 86 $ 86 Decreased Interest Rate Only Six Months Ended June 30, 2015 Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Residential mortgages 4 $ 120 $ 120 Total 4 $ 120 $ 120 There was one (1) loan restructured during the last twelve months that experienced payment default subsequent to restructuring during the three and six month periods ended June 30, 2016. During the three and six month periods ended June 30, 2015, there was one (1) loan restructured during the last twelve months that experienced payment default subsequent to restructuring. The Company considers a default as failure to comply with the restructured loan agreement. This would include the restructured loan being past due greater than 90 days, failure to comply with financial covenants, or failure to maintain current insurance coverage or real estate taxes after the loan restructure date.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	4. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company measures or monitors certain of its assets and liabilities on a fair value basis. Fair value is used on a recurring basis for assets and liabilities that are elected to be accounted for under ASC guidance as well as certain assets and liabilities in which fair value is the primary basis of accounting. Depending on the nature of the asset or liability, the Company uses various valuation techniques and assumptions when estimating fair value, which are in accordance with the guidance for determining the fair value of a financial asset when the market for that asset is not active. In accordance with ASC guidance, the Company applied the following fair value hierarchy: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as U.S. Treasury and other highly liquid investments that are actively traded in over-the-counter markets. Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes U.S. Government and agency mortgage-backed debt securities, certain derivative contracts and impaired loans. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. For example, this category generally includes certain private equity investments, retained residual interests in securitizations, residential mortgage servicing rights, and highly structured or long-term derivative contracts. Investment Securities Available for Sale—Investment securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are 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. Level 1 securities include those traded on an active exchange such as the New York Stock Exchange, Treasury securities that are traded by dealers or brokers in active over-the counter markets and money market funds. Level 2 securities include mortgage backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. Securities classified as Level 3 include asset-backed securities in less liquid markets. Other Real Estate Owned— Assets acquired through or instead of loan foreclosure are initially recorded at fair value less estimated costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. The fair value of other real estate owned is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. In addition, the Company may further adjust an appraised amount given its knowledge of a specific property or market. Loans—The Company does not record loans at fair value on a recurring basis; however, from time to time, a loan is considered impaired, and an allowance for loan loss is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan are considered impaired. Once a loan is identified as individually impaired, management measures impairment. The fair value of impaired loans is estimated using one of several methods, including the collateral value, market value of similar debt, and discounted cash flows. Those impaired loans not requiring a specific allowance represent loans for which the fair value of expected repayments or collateral exceed the recorded investment in such loans. At June 30, 2016 and December 31, 2015, substantially all of the impaired loans were evaluated based upon the fair value of the collateral. Impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. The fair value of collateral dependent impaired loans is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. In addition, the Company may further adjust an appraised amount given its knowledge of a specific property or market. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. The following tables present financial assets measured at fair value on a recurring and nonrecurring basis and the change in fair value for those specific financial instruments in which fair value has been elected. (there were no financial liabilities measured at fair value for the periods being reported) (in thousands): Fair Value Measurements at June 30, 2016 Quoted Prices In Active Significant Markets for Other Significant Assets Identical Observable Unobservable Measured at Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Recurring Basis: Assets Securities available for sale: State, county, and municipal securities $ 28,354 $ — $ 28,354 $ — Mortgage-backed securities 86,378 — 86,378 — 114,732 — 114,732 — Nonrecurring Basis: Assets Impaired loans: Commercial Real Estate $ 9,458 $ — $ — $ 9,458 Single-family Residential 246 — — 246 Commercial 76 — — 76 Other real estate owned 2,849 — — 2,849 12,629 — — 12,629 Fair Value Measurements at December 31, 2015 Quoted Prices In Active Significant Markets for Other Significant Assets Identical Observable Unobservable Measured at Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Recurring Basis: Assets Securities available for sale: State, county, and municipal securities $ 29,457 $ — $ 29,457 $ — Mortgage-backed securities 91,800 — 91,800 — Corporate securities 2,001 — 2,001 — 123,258 — 123,258 — Nonrecurring Basis: Assets Impaired loans: Commercial Real Estate $ 8,842 $ — $ — $ 8,842 Single-family Residential 317 — — 317 Other real estate owned 4,463 — — 4,463 13,622 — — 13,622 For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of June 30, 2016, the significant unobservable inputs used in the fair value measurements were as follows (dollars in thousands): Fair Value at Valuation Unobservable (Dollars in thousands) June 30, 2016 Technique Inputs Range Impaired Loans: Commercial Real Estate $ 9,458 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% Single-family Residential $ 246 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% Commercial $ 76 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% OREO $ 2,849 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% As of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows (dollars in thousands): Fair Value at Valuation Unobservable (Dollars in thousands) December 31, 2015 Technique Inputs Range Impaired Loans: Commercial Real Estate $ 8,842 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% Single-family Residential $ 317 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% OREO $ 4,463 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% Following are disclosures of fair value information about financial instruments, whether or not recognized on the balance sheet, for which it is practicable to estimate that value. The assumptions used in the estimation of the fair values are based on estimates using discounted cash flows and other valuation techniques. The use of discounted cash flows can be significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. The following disclosures should not be considered an estimate of the liquidation value of the Company, but rather a good-faith estimate of the increase or decrease in the value of financial instruments held by the Company since purchase, origination, or issuance. Cash, Due from Banks, Federal Funds Sold, Interest-Bearing Deposits with Banks and Certificates of Deposits Investment Securities Other Investments Loans Cash Surrender Value of Life Insurance Deposits Advances from Federal Home Loan Bank Commitments to Extend Credit and Commercial Letters of Credit Limitations The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2016 (in thousands): June 30, 2016 Fair Value Measurements Carrying Amount Total Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 2,948 $ 2,948 $ 2,948 $ — $ — Interest-bearing deposits with banks 53,098 53,098 53,098 — — Federal funds sold 16,537 16,537 16,537 — — Certificates of deposit 900 900 900 — — Investment securities 114,732 114,732 — 114,732 — Other investments 958 958 958 — — Loans-net 197,097 196,522 — — 196,522 Cash surrender value of life insurance 10,224 10,224 10,224 — — Financial liabilities: Deposits 351,245 352,022 228,113 123,909 Advances from Federal Home Loan Bank 5,225 5,225 — 5,225 — Notional Estimated Amount Fair Value Off-balance-sheet financial instruments: Commitments to extend credit $ 28,885 $ — Commercial letters of credit 1,889 — The carrying values and estimated fair values of the Company’s financial instruments at December 31, 2015 are as follows: December 31, 2015 Fair Value Measurements Carrying Amount Total Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 2,577 $ 2,577 $ 2,577 $ — $ — Interest-bearing deposits with banks 29,820 29,820 29,820 — — Federal funds sold 16,500 16,500 16,500 — — Certificates of deposit 900 900 900 — — Investment securities 123,258 123,258 — 123,258 — Other investments 965 965 965 — — Loans-net 184,836 183,929 — — 183,929 Cash surrender value of life insurance 10,090 10,090 10,090 — — Financial liabilities: Deposits 328,862 329,211 212,820 116,391 — Advances from Federal Home Loan Bank 5,235 5,235 — 5,235 — Notional Estimated Amount Fair Value Off-balance-sheet financial instruments: Commitments to extend credit $ 35,843 $ — Commercial letters of credit 1,889 —

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED Other real estate owned is reported at the lower of cost or fair value less estimated disposal costs, determined on the basis of current appraisals, comparable sales, and other estimates of value obtained principally from independent sources. Any excess of the loan balance at the time of foreclosure over the fair value of the real estate held as collateral is treated as a charge-off against the allowance for loan losses. Any subsequent declines in value are charged to earnings. Transactions in other real estate owned are summarized below (in thousands): June 30, December 31, 2016 2015 Balance—beginning of period $ 4,463 $ 4,668 Additions 355 976 Sales (1,871 ) (964 ) Write downs (98 ) (217 ) Balance—end of period $ 2,849 $ 4,463

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	6. INTANGIBLE ASSETS Finite lived intangible assets of the Company represent deposit assumption premiums recorded upon the purchase of certain assets and liabilities from other financial institutions. Deposit assumption premiums are amortized over seven years, the estimated average lives of the deposit bases acquired, using the straight-line method and are included within other assets on the Condensed Consolidated Balance Sheets. During the first quarter of 2016, the deposit premium became fully amortized. The Company applies a fair value-based impairment test to the carrying value of goodwill on an annual basis and on an interim basis if certain events or circumstances indicate that an impairment loss may have been incurred. The following table presents information about the Company’s intangible assets (in thousands): June 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Unamortized intangible asset: Goodwill $ 362 $ — $ 362 $ — Amortized intangible assets: Core deposit intangibles $ 3,303 $ 3,303 $ 3,303 $ 3,185 The following table presents information about aggregate amortization expense (in thousands): Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Aggregate amortization expense of core deposit intangibles: $ — $ 118 $ 118 $ 236 Estimated aggregate amortization expense of core deposit intangibles for the years ending December 31: 2016 $ 118 2017 and thereafter $ —

NET INCOME PER COMMON AND COMMO

NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE	7. NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE Basic and diluted net income per share available to common and potential common stockholders has been calculated based on the weighted average number of shares outstanding. Options with exercise prices greater than the average market price of the Company’s stock during the periods are excluded from computation of diluted earnings per share. Options with exercise prices lower than the average market price of the Company’s stock during the periods are considered dilutive and are therefore included in the computation of diluted earnings per share. The following table presents the number of options that are considered antidilutive and dilutive in the computation of diluted earnings per share: Three months ended Six months ended 2016 2015 2016 2015 Options excluded from calculation of diluted earnings per share 32,500 24,877 32,500 24,877 Dilutive options included in calculation of diluted earnings per share — 16,500 — 16,500 Total number of options outstanding 32,500 41,377 32,500 41,377 The following schedule reconciles the numerator and denominator of the basic and diluted net income per share available to common and potential common stockholders for the three and six months ended June 30, 2016 and 2015 (in thousands, except per share data): Net Income Shares Per Share (Numerator) (Denominator) Amount Three Months ended June 30, 2016 Basic earnings per share available to common stockholders $ 690 2,207 $ 0.31 Nonvested restricted stock grant — 2 — Effect of dilutive securities: options to purchase common shares — — — Diluted earnings per share $ 690 2,209 $ 0.31 Six Months ended June 30, 2016 Basic earnings per share available to common stockholders $ 989 2,205 $ 0.45 Nonvested restricted stock grant — 2 — Effect of dilutive securities: options to purchase common shares — — — Diluted earnings per share $ 989 2,207 $ 0.45 Three Months ended June 30, 2015 Basic earnings per share available to common stockholders $ 289 2,183 $ 0.13 Nonvested restricted stock grant — 12 — Effect of dilutive securities: options to purchase common shares — 17 — Diluted earnings per share $ 289 2,212 $ 0.13 Six Months ended June 30, 2015 Basic earnings per share available to common stockholders $ 658 2,180 $ 0.30 Nonvested restricted stock grant — 12 — Effect of dilutive securities: options to purchase common shares — 17 — Diluted earnings per share $ 658 2,209 $ 0.30

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	8. SUBSEQUENT EVENTS The Company evaluated subsequent events through the date its financial statements were issued.

RECLASSIFICATIONS

RECLASSIFICATIONS	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
RECLASSIFICATIONS	9. RECLASSIFICATIONS Certain amounts in the 2015 consolidated financial statements were reclassified to conform to the 2016 presentation. These reclassifications had no effect on shareholders’ equity or the results of operations as previously presented.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Citizens Bancshares Corporation (the “Company”) is a holding company that provides a full range of commercial and personal banking services to individual and corporate customers in metropolitan Atlanta and Columbus, Georgia, and in Birmingham and Eutaw, Alabama, through its wholly owned subsidiary, Citizens Trust Bank (the “Bank”). The Bank operates under a state charter and serves its customers through seven full-service financial centers in metropolitan Atlanta, Georgia, one full-service financial center in Columbus, Georgia, one full-service financial center in Birmingham, Alabama, and one full-service financial center in Eutaw, Alabama. The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain disclosures required by generally accepted accounting principles are not included herein. These interim statements should be read in conjunction with the financial statements and notes thereto included in the Company’s latest Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2015. The results of operations for the interim periods reported herein are not necessarily representative of the results expected for the full 2016 fiscal year. The consolidated financial statements of the Company for the three and six month periods ended June 30, 2016 are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the financial position and results of operations and cash flows for the three month period have been included. All adjustments are of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation.
Accounting Policies	Accounting Policies The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which often require the judgment of management in the selection and application of certain accounting principles and methods. Reference is made to the accounting policies of the Company described in the notes to the consolidated financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company has followed those policies in preparing this report. Management believes that the quality and reasonableness of its most critical policies enable the fair presentation of its financial position and of its results of operations.
Troubled Asset Relief Program	Troubled Asset Relief Program On August 13, 2010, as part of the U.S. Department of the Treasury (the “Treasury”) Troubled Asset Relief Program (“TARP”) Community Development Capital Initiative, the Company entered into a Letter Agreement, and an Exchange Agreement–Standard Terms (“Exchange Agreement”), with the Treasury, pursuant to which the Company agreed to exchange 7,462 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Shares”), issued on March 6, 2009, pursuant to the Company’s participation in the TARP Capital Purchase Program, for 7,462 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series B (“Series B Preferred Shares”) issued pursuant to the TARP Community Development Capital Initiative, both of which have a liquidation preference of $1,000 (the “Exchange Transaction”). No new monetary consideration was exchanged in connection with the Exchange Transaction. The Exchange Transaction closed on August 13, 2010 (the “Closing Date”). On September 17, 2010, the Company issued 4,379 shares of its Series C Preferred Shares to the Treasury as part of its TARP Community Development Capital Initiative for a total of 11,841 shares of Series B and C Preferred Shares issued to Treasury. The issuance of the Series B and Series C Preferred Shares was a private placement exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended. The Series B and Series C Preferred Shares qualify as Tier 1 capital and will pay cumulative dividends at a rate of 2% per annum for the first eight years after the Closing Date and 9% per annum thereafter. The Company may, subject to consultation with the Federal Reserve Bank of Atlanta, redeem the Series B and Series C Preferred Shares at any time for its aggregate liquidation amount plus any accrued and unpaid dividends.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued guidance to change the recognition of revenue from contracts with customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for reporting periods beginning after December 15, 2017. The Company will apply the guidance using a full retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements. In February 2015, the FASB issued guidance which amends the consolidation requirements and significantly changes the consolidation analysis required under U.S. GAAP. Although the amendments are expected to result in the deconsolidation of many entities, the Company will need to reevaluate all its previous consolidation conclusions. The amendment was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. These amendments did not have a material effect on its financial statements. In August 2015, the FASB deferred the effective date of ASU 2014-09, Revenue from Contracts with Customers In November 2015, the FASB amended the Income Taxes topic of the Accounting Standards Codification to simplify the presentation of deferred income taxes by requiring that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments will be effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, with early adoption permitted as of the beginning of an interim or annual reporting period. The Company will apply the guidance prospectively. The Company does not expect these amendments to have a material effect on its financial statements. In January 2016, the FASB amended the Financial Instruments topic of the Accounting Standards Codification to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will apply the guidance by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values will be applied prospectively to equity investments that exist as of the date of adoption of the amendments. The Company does not expect these amendments to have a material effect on its financial statements. In February 2016, the FASB amended the Leases topic of the Accounting Standards Codification to revise certain aspects of recognition, measurement, presentation, and disclosure of leasing transactions. The amendments will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows. In March 2016, the FASB amended the Revenue from Contracts with Customers topic of the Accounting Standards Codification to clarify the implementation guidance on principal versus agent considerations and address how an entity should assess whether it is the principal or the agent in contracts that include three or more parties. In March 2016, the FASB issued guidance to simplify several aspects of the accounting for share-based payment award transactions including the income tax consequences, the classification of awards as either equity or liabilities, and the classification on the statement of cash flows. Additionally, the guidance simplifies two areas specific to entities other than public business entities allowing them apply a practical expedient to estimate the expected term for all awards with performance or service conditions that have certain characteristics and also allowing them to make a one-time election to switch from measuring all liability-classified awards at fair value to measuring them at intrinsic value. The amendments will be effective for the Company for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company does not expect these amendments to have a material effect on its financial statements. In June 2016, the FASB issued guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. The amendments will be effective for the Company for reporting periods beginning after December 15, 2019. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of investment securities available for sale	Investment securities available for sale are summarized as follows (in thousands): At June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State, county, and municipal securities $ 26,972 $ 1,382 $ — $ 28,354 Mortgage-backed securities 85,376 1,119 117 86,378 Totals $ 112,348 $ 2,501 $ 117 $ 114,732 At December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State, county, and municipal securities $ 28,248 $ 1,223 $ 14 $ 29,457 Mortgage-backed securities 93,118 65 1,383 91,800 Corporate securities 2,000 1 — 2,001 Totals $ 123,366 $ 1,289 $ 1,397 $ 123,258
Schedule of amortized costs and fair values of investment securities, by contractual maturity	The amortized costs and fair values of investment securities at June 30, 2016, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with and without call or prepayment penalties (in thousands). Available for Sale Amortized Fair Cost Value Due in one year or less $ 822 $ 824 Due after one year through five years 4,237 4,418 Due after five years through ten years 30,276 31,743 Due after ten years 77,013 77,747 $ 112,348 $ 114,732
Schedule of investments' gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealzied loss position	The following tables show investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at June 30, 2016 and December 31, 2015. Except as explicitly identified below, all unrealized losses on investment securities are considered by management to be temporarily impaired given the credit ratings on these investment securities and the short duration of the unrealized loss (in thousands): At June 30, 2016 Securities Available for Sale Securities in a loss position for Securities in a loss position for less than twelve months twelve months or more Total Unrealized Unrealized Unrealized Fair value losses Fair value losses Fair value losses Mortgage-backed securities $ — $ — $ 17,877 $ (117 ) $ 17,877 $ (117 ) Municipal securities — — — — — — Total $ — $ — $ 17,877 $ (117 ) $ 17,877 $ (117 ) At December 31, 2015 Securities Available for Sale Securities in a loss position for Securities in a loss position for less than twelve months twelve months or more Total Unrealized Unrealized Unrealized Fair value losses Fair value losses Fair value losses Mortgage-backed securities $ 63,533 $ (723 ) $ 21,333 $ (660 ) $ 84,866 $ (1,383 ) Municipal securities 2,587 (14 ) — — 2,587 (14 ) Total $ 66,120 $ (737 ) $ 21,333 $ (660 ) $ 87,453 $ (1,397 )

LOANS RECEIVABLE AND ALLOWANC20

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Jun. 30, 2016
Loans and Leases Receivable Disclosure [Abstract]
Summary of loans outstanding, by classification	Loans outstanding, by classification, are summarized as follows (in thousands): June 30, December 31, 2016 2015 Commercial, financial, and agricultural $ 44,345 $ 42,748 Commercial Real Estate 108,436 104,092 Single-Family Residential 32,184 31,096 Construction and Development 6,838 2,220 Consumer 7,352 6,804 199,155 186,960 Allowance for loan losses 2,058 2,124 $ 197,097 $ 184,836
Summary of activity in the allowance for loan losses by portfolio segment	Activity in the allowance for loan losses by portfolio segment is summarized as follows (in thousands): For the Three Month Period Ended June 30, 2016 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 604 $ 952 $ 364 $ 6 $ 226 $ 2,152 Recovery of loan losses (181 ) (164 ) 176 3 (9 ) (175 ) Loans charged-off — (179 ) (58 ) — (19 ) (256 ) Recoveries on loans charged-off 5 316 1 — 15 337 Ending Balance $ 428 $ 925 $ 483 $ 9 $ 213 $ 2,058 For the Six Month Period Ended June 30, 2016 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 342 $ 1,170 $ 435 $ 3 $ 174 $ 2,124 Recovery of loan losses 105 (386 ) 70 6 105 (100 ) Loans charged-off (30 ) (179 ) (101 ) — (97 ) (407 ) Recoveries on loans charged-off 11 320 79 — 31 441 Ending Balance $ 428 $ 925 $ 483 $ 9 $ 213 $ 2,058 For the Three Month Period Ended June 30, 2015 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 289 $ 1,308 $ 350 $ 52 $ 227 $ 2,226 Provision for loan losses 346 (228 ) (10 ) (48 ) (10 ) 50 Loans charged-off — — (73 ) — (56 ) (129 ) Recoveries on loans charged-off 5 111 23 5 30 174 Ending Balance $ 640 $ 1,191 $ 290 $ 9 $ 191 $ 2,321 For the Six Month Period Ended June 30, 2015 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Beginning balance $ 415 $ 1,366 $ 254 $ 72 $ 192 $ 2,299 Provision for loan losses 215 (268 ) 182 (69 ) 65 125 Loans charged-off — (83 ) (170 ) — (111 ) (364 ) Recoveries on loans charged-off 10 176 24 6 45 261 Ending Balance $ 640 $ 1,191 $ 290 $ 9 $ 191 $ 2,321
Schedule of allocation of allowance for loan losses by portfolio segment	The allocation of the allowance for loan losses by portfolio segment was as follows (in thousands): At June 30, 2016 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Specific Reserves: Impaired loans $ 74 $ 426 $ 180 $ — $ — $ 680 Total specific reserves 74 426 180 — — 680 General reserves 354 499 303 9 213 1,378 Total $ 428 $ 925 $ 483 $ 9 $ 213 $ 2,058 Loans individually evaluated for impairment $ 150 $ 9,884 $ 426 $ — $ — $ 10,460 Loans collectively evaluated for impairment 44,195 98,552 31,758 6,838 7,352 188,695 Total $ 44,345 $ 108,436 $ 32,184 $ 6,838 $ 7,352 $ 199,155 At December 31, 2015 Commercial Commercial Real Estate Single-family Residential Construction & Development Consumer Total Specific Reserves: Impaired loans $ — $ 550 $ 100 $ — $ — $ 650 Total specific reserves — 550 100 — — 650 General reserves 342 620 335 3 174 1,474 Total $ 342 $ 1,170 $ 435 $ 3 $ 174 $ 2,124 Loans individually evaluated for impairment $ — $ 9,392 $ 417 $ — $ — $ 9,809 Loans collectively evaluated for impairment 42,748 94,700 30,679 2,220 6,804 177,151 Total $ 42,748 $ 104,092 $ 31,096 $ 2,220 $ 6,804 $ 186,960
Schedule of impaired loans by class of loan	The following table presents impaired loans by class of loan (in thousands): At June 30, 2016 Impaired Loans - With Impaired Loans - With Allowance no Allowance Unpaid Principal Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Recorded Investment Residential: First mortgages $ — $ — $ — $ — $ — HELOC’s and equity 263 217 180 296 209 Commercial Secured 150 150 74 — — Unsecured — — — — — Commercial Real Estate: Owner occupied 406 406 416 8,516 7,901 Non-owner occupied 608 10 10 1,627 1,567 Multi-family — — — — — Construction and Development: Construction — — — — — Improved Land — — — — — Unimproved Land — — — — — Consumer and Other — — — — — Total $ 1,427 $ 783 $ 680 $ 10,439 $ 9,677 The following table presents the average recorded investment and interest income recognized on impaired loans by class of loan (in thousands): Six Months Ended Six Months Ended June 30, 2016 June 30, 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Residential: First mortgages $ — $ — $ — $ — HELOC’s and equity 388 5 214 26 Commercial: Secured 150 — — — Unsecured — — — — Commercial Real Estate: Owner occupied 8,593 129 8,526 200 Non-owner occupied 1,997 13 2,841 127 Multi-family — — 50 30 Construction and Development: Construction — — — — Improved Land — — — — Unimproved Land — — — — Consumer and Other — — — — Total $ 11,128 $ 147 $ 11,631 $ 383 At December 31, 2015 Impaired Loans - With Impaired Loans - With Allowance no Allowance Unpaid Principal Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Recorded Investment Average Recorded Investment Interest Income Recognized Residential: First mortgages $ — $ — $ — $ — $ — $ — $ — HELOC’s and equity 134 134 100 304 283 209 43 Commercial Secured — — — — — — — Unsecured — — — — — — — Commercial Real Estate: Owner occupied 4,115 4,115 356 4,456 3,972 8,666 391 Non-owner occupied 691 691 194 667 614 1,679 193 Multi-family — — — — — — — Construction and Development Construction — — — — — — — Improved Land — — — — — — — Consumer and Other — — — — — — Total $ 4,940 $ 4,940 $ 650 $ 5,427 $ 4,869 $ 10,554 $ 627
Schedule of aging analysis of loan portfolio	The following table is an aging analysis of our loan portfolio (in thousands): At June 30, 2016 30- 59 Days 60- 89 Days Over 90 Days Total Current Total Loans Receivable Recorded Investment > 90 Days and Accruing Nonaccrual Residential: First mortgages $ — $ 368 $ 664 $ 1,032 $ 19,345 $ 20,377 $ — $ 1,160 HELOC’s and equity 303 106 139 548 11,259 11,807 — 278 Commercial: Secured — 1 150 151 39,669 39,820 — 150 Unsecured — — — — 4,525 4,525 — — Commercial Real Estate: Owner occupied 728 209 293 1,230 49,406 50,636 — 846 Non-owner occupied 414 27 606 1,047 52,067 53,114 — 699 Multi-family — — — — 4,686 4,686 — — Construction and Development — — — — 6,838 6,838 — — Consumer and Other 1 12 12 25 7,327 7,352 1 11 Total $ 1,446 $ 723 $ 1,864 $ 4,033 $ 195,122 $ 199,155 $ 1 $ 3,144 At December 31, 2015 30- 59 Days 60- 89 Days Over 90 Days Total Current Total Loans Receivable Recorded Investment > 90 Days and Accruing Nonaccrual Residential: First mortgages $ 1,581 $ 824 $ 745 $ 3,150 $ 19,253 $ 22,403 $ — $ 1,246 HELOC’s and equity 224 59 173 456 8,237 8,693 — 250 Commercial: Secured 49 — 30 79 36,144 36,223 — 30 Unsecured — — — — 6,525 6,525 — — Commercial Real Estate: Owner occupied 931 336 — 1,267 51,180 52,447 — 933 Non-owner occupied 441 691 — 1,132 45,684 46,816 — 551 Multi-family — — — — 4,829 4,829 — — Construction and Development: Construction — — — — 2,220 2,220 — — Consumer and Other 29 41 6 76 6,728 6,804 — 6 Total $ 3,255 $ 1,951 $ 954 $ 6,160 $ 180,800 $ 186,960 $ — $ 3,016
Schedule of loan portfolio by risk rating	The following table presents our loan portfolio by risk rating (in thousands): At June 30, 2016 Total Pass Credits Special Mention Substandard Doubtful Single-Family Residential: First mortgages $ 20,377 $ 19,240 $ — $ 1,137 $ — HELOC’s and equity 11,807 11,253 — 404 150 Commercial, financial, and agricultural: Secured 39,820 39,670 — 150 — Unsecured 4,525 4,525 — — — Commercial Real Estate: Owner occupied 50,636 43,791 1,003 5,842 — Non-owner occupied 53,114 51,510 — 1,604 — Multi-family 4,686 4,387 299 — — Construction and Development 6,838 6,838 — — — Consumer 7,352 7,329 11 10 2 Total $ 199,155 $ 188,543 $ 1,313 $ 9,147 $ 152 At December 31, 2015 Total Pass Credits Special Mention Substandard Doubtful Single-Family Residential: First mortgages $ 22,403 $ 20,729 $ — $ 1,651 $ 23 HELOC’s and equity 8,693 8,004 66 547 76 Commercial, financial, and agricultural: Secured 36,223 36,193 — — 30 Unsecured 6,525 6,525 — — — Commercial Real Estate: Owner occupied 52,447 45,274 1,604 5,569 — Non-owner occupied 46,816 45,458 107 1,251 — Multi-family 4,829 4,524 305 — — Construction and Development 2,220 2,220 — — — Consumer 6,804 6,749 — 16 39 Total $ 186,960 $ 175,676 $ 2,082 $ 9,034 $ 168
Schedule of troubled debt restructurings	During the three and six months ended June 30, 2016, the Company did not modify any loan that was considered to be a troubled debt restructuring. During the three and six months ended June 30, 2015, the Company modified two (2) and four (4) loans, respectively, that were considered to be troubled debt restructurings. We extended the terms and decreased the interest rate on these loans (dollars in thousands). Extended Terms and Decreased Interest Rate Three Months Ended June 30, 2015 Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Troubled Debt Restructurings Residential mortgages 2 $ 86 $ 86 Total 2 $ 86 $ 86 Decreased Interest Rate Only Six Months Ended June 30, 2015 Number of Loans Pre-Modification Recorded Investment Post-Modification Recorded Investment Residential mortgages 4 $ 120 $ 120 Total 4 $ 120 $ 120

FAIR VALUE OF FINANCIAL INSTR21

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of financial assets measured at fair value on a recurring and nonrecurring basis and the change in fair value for those specific financial instruments in which fair value has been elected	The following tables present financial assets measured at fair value on a recurring and nonrecurring basis and the change in fair value for those specific financial instruments in which fair value has been elected. (there were no financial liabilities measured at fair value for the periods being reported) (in thousands): Fair Value Measurements at June 30, 2016 Quoted Prices In Active Significant Markets for Other Significant Assets Identical Observable Unobservable Measured at Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Recurring Basis: Assets Securities available for sale: State, county, and municipal securities $ 28,354 $ — $ 28,354 $ — Mortgage-backed securities 86,378 — 86,378 — 114,732 — 114,732 — Nonrecurring Basis: Assets Impaired loans: Commercial Real Estate $ 9,458 $ — $ — $ 9,458 Single-family Residential 246 — — 246 Commercial 76 — — 76 Other real estate owned 2,849 — — 2,849 12,629 — — 12,629 Fair Value Measurements at December 31, 2015 Quoted Prices In Active Significant Markets for Other Significant Assets Identical Observable Unobservable Measured at Assets Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Recurring Basis: Assets Securities available for sale: State, county, and municipal securities $ 29,457 $ — $ 29,457 $ — Mortgage-backed securities 91,800 — 91,800 — Corporate securities 2,001 — 2,001 — 123,258 — 123,258 — Nonrecurring Basis: Assets Impaired loans: Commercial Real Estate $ 8,842 $ — $ — $ 8,842 Single-family Residential 317 — — 317 Other real estate owned 4,463 — — 4,463 13,622 — — 13,622
Significant unobservable inputs used for assets and liabilities measured at fair value on a recurring or non-recurring basis	For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of June 30, 2016, the significant unobservable inputs used in the fair value measurements were as follows (dollars in thousands): Fair Value at Valuation Unobservable (Dollars in thousands) June 30, 2016 Technique Inputs Range Impaired Loans: Commercial Real Estate $ 9,458 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% Single-family Residential $ 246 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% Commercial $ 76 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% OREO $ 2,849 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% As of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows Fair Value at Valuation Unobservable (Dollars in thousands) December 31, 2015 Technique Inputs Range Impaired Loans: Commercial Real Estate $ 8,842 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% Single-family Residential $ 317 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20% OREO $ 4,463 Appraised Value Negative adjustment for selling costs and changes in market conditions since appraisal 5% - 20%
Schedule of carrying values and estimated fair values of the Company's financial instruments	The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2016 (in thousands): June 30, 2016 Fair Value Measurements Carrying Amount Total Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 2,948 $ 2,948 $ 2,948 $ — $ — Interest-bearing deposits with banks 53,098 53,098 53,098 — — Federal funds sold 16,537 16,537 16,537 — — Certificates of deposit 900 900 900 — — Investment securities 114,732 114,732 — 114,732 — Other investments 958 958 958 — — Loans-net 197,097 196,522 — — 196,522 Cash surrender value of life insurance 10,224 10,224 10,224 — — Financial liabilities: Deposits 351,245 352,022 228,113 123,909 Advances from Federal Home Loan Bank 5,225 5,225 — 5,225 — Notional Estimated Amount Fair Value Off-balance-sheet financial instruments: Commitments to extend credit $ 28,885 $ — Commercial letters of credit 1,889 — The carrying values and estimated fair values of the Company’s financial instruments at December 31, 2015 are as follows: December 31, 2015 Fair Value Measurements Carrying Amount Total Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 2,577 $ 2,577 $ 2,577 $ — $ — Interest-bearing deposits with banks 29,820 29,820 29,820 — — Federal funds sold 16,500 16,500 16,500 — — Certificates of deposit 900 900 900 — — Investment securities 123,258 123,258 — 123,258 — Other investments 965 965 965 — — Loans-net 184,836 183,929 — — 183,929 Cash surrender value of life insurance 10,090 10,090 10,090 — — Financial liabilities: Deposits 328,862 329,211 212,820 116,391 — Advances from Federal Home Loan Bank 5,235 5,235 — 5,235 — Notional Estimated Amount Fair Value Off-balance-sheet financial instruments: Commitments to extend credit $ 35,843 $ — Commercial letters of credit 1,889 —

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Summary of transactions in other real estate owned	Transactions in other real estate owned are summarized below (in thousands): June 30, December 31, 2016 2015 Balance—beginning of period $ 4,463 $ 4,668 Additions 355 976 Sales (1,871 ) (964 ) Write downs (98 ) (217 ) Balance—end of period $ 2,849 $ 4,463

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	The following table presents information about the Company’s intangible assets (in thousands): June 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Unamortized intangible asset: Goodwill $ 362 $ — $ 362 $ — Amortized intangible assets: Core deposit intangibles $ 3,303 $ 3,303 $ 3,303 $ 3,185
Schedule of aggregate amortization expense	The following table presents information about aggregate amortization expense (in thousands): Three months ended Six months ended 2016 2015 2016 2015 Aggregate amortization expense of core deposit intangibles: $ — $ 118 $ 118 $ 236 Estimated aggregate amortization expense of core deposit intangibles for the years ending December 31: 2016 $ 118 2017 and thereafter $ —

NET INCOME PER COMMON AND COM24

NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of antidilutive and dilutive in the computation of diluted earnings per share	The following table presents the number of options that are considered antidilutive and dilutive in the computation of diluted earnings per share: Three months ended Six months ended 2016 2015 2016 2015 Options excluded from calculation of diluted earnings per share 32,500 24,877 32,500 24,877 Dilutive options included in calculation of diluted earnings per share — 16,500 — 16,500 Total number of options outstanding 32,500 41,377 32,500 41,377
Schedule of reconciliation of the numerators and denominator of the basic and diluted net income per common and potential common share	The following schedule reconciles the numerator and denominator of the basic and diluted net income per share available to common and potential common stockholders for the three and six months ended June 30, 2016 and 2015 (in thousands, except per share data): Net Income Shares Per Share (Numerator) (Denominator) Amount Three Months ended June 30, 2016 Basic earnings per share available to common stockholders $ 690 2,207 $ 0.31 Nonvested restricted stock grant — 2 — Effect of dilutive securities: options to purchase common shares — — — Diluted earnings per share $ 690 2,209 $ 0.31 Six Months ended June 30, 2016 Basic earnings per share available to common stockholders $ 989 2,205 $ 0.45 Nonvested restricted stock grant — 2 — Effect of dilutive securities: options to purchase common shares — — — Diluted earnings per share $ 989 2,207 $ 0.45 Three Months ended June 30, 2015 Basic earnings per share available to common stockholders $ 289 2,183 $ 0.13 Nonvested restricted stock grant — 12 — Effect of dilutive securities: options to purchase common shares — 17 — Diluted earnings per share $ 289 2,212 $ 0.13 Six Months ended June 30, 2015 Basic earnings per share available to common stockholders $ 658 2,180 $ 0.30 Nonvested restricted stock grant — 12 — Effect of dilutive securities: options to purchase common shares — 17 — Diluted earnings per share $ 658 2,209 $ 0.30

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	Aug. 13, 2010	Jun. 30, 2016	Dec. 31, 2015	Sep. 17, 2010
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Number of preferred shares issued	7,462	7,462	7,462
Monetary consideration exchanged in connection with the Exchange Transaction	$ 1
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Number of preferred shares exchanged	7,462
Monetary consideration exchanged in connection with the Exchange Transaction	$ 1
Series B and Series C Preferred Stock [Member]
Class of Stock [Line Items]
Number of preferred shares issued				11,841
Cumulative dividend payment for first eight years after closing date (as a percent)		2.00%
Period for which preferred stock dividend rate is 2%		8 years
Cumulative dividend payment after the first eight years of closing date (as a percent)		9.00%
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Number of preferred shares issued		4,379	4,379	4,379

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Amortized Cost	$ 112,348	$ 123,366
Gross Unrealized Gains	2,501	1,289
Gross Unrealized Losses	117	1,397
Total	114,732	123,258
State, county and municipal securities [Member]
Amortized Cost	26,972	28,248
Gross Unrealized Gains	1,382	1,223
Gross Unrealized Losses		14
Total	28,354	29,457
Mortgage Backed Securities [Member]
Amortized Cost	85,376	93,118
Gross Unrealized Gains	1,119	65
Gross Unrealized Losses	117	1,383
Total	$ 86,378	91,800
Corporate Securities [Member]
Amortized Cost		2,000
Gross Unrealized Gains		1
Gross Unrealized Losses
Total		$ 2,001

INVESTMENTS (Details 2)

INVESTMENTS (Details 2) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Available for Sale, Amortized Cost
Due in one year or less	$ 822
Due after one year through five years	4,237
Due after five years through ten years	30,276
Due after ten years	77,013
Total	112,348
Available for Sale, Fair Value
Due in one year or less	824
Due after one year through five years	4,418
Due after five years through ten years	31,743
Due after ten years	77,747
Total	$ 114,732	$ 123,258

INVESTMENTS (Details 3)

INVESTMENTS (Details 3) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Available-for-sale securities
Less Than 12 Months, Fair Value		$ 66,120
Less Than 12 Months, Unrealized Losses		(737)
12 Months Or Longer, Fair Value	17,877	21,333
12 Months Or Longer, Unrealized Losses	(117)	(660)
Total Fair Value	17,877	87,453
Total Unrealized Losses	(117)	(1,397)
Mortgage Backed Securities [Member]
Available-for-sale securities
Less Than 12 Months, Fair Value		63,533
Less Than 12 Months, Unrealized Losses		(723)
12 Months Or Longer, Fair Value	17,877	21,333
12 Months Or Longer, Unrealized Losses	(117)	(660)
Total Fair Value	17,877	84,866
Total Unrealized Losses	(117)	(1,383)
State, county and municipal securities [Member]
Available-for-sale securities
Less Than 12 Months, Fair Value		2,587
Less Than 12 Months, Unrealized Losses		(14)
12 Months Or Longer, Fair Value
12 Months Or Longer, Unrealized Losses
Total Fair Value		2,587
Total Unrealized Losses		$ (14)

INVESTMENTS (Details Narrative)

INVESTMENTS (Details Narrative) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
Securities pledged as collateral
Securities pledged to secure public funds on deposit and for other purposes as required by law, FHLB advances			$ 81,735	$ 93,161
Line of credit at Federal Reserve Bank discount window			$ 28,227
Gross realized gains (losses) on securities
Proceeds from sale of securities		$ 12,385
Gross realized gains	$ 121	$ 312
Number of securities unrealized loss position for longer than twelve months | Number			13	15

LOANS RECEIVABLE AND ALLOWANC30

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Loans, gross	$ 199,155	$ 186,960
Allowance for loan losses	2,058	2,124
Loans, net	197,097	184,836
Commercial Financial and Agricultural Portfolio Segment [Member]
Loans, gross	44,345	42,748
Commercial Real Estate Portfolio Segment [Member]
Loans, gross	108,436	104,092
Single Family Residential Mortgage [Member]
Loans, gross	32,184	31,096
Construction and Development Portfolio Segment [Member]
Loans, gross	6,838	2,220
Consumer Portfolio Segment [Member]
Loans, gross	$ 7,352	$ 6,804

LOANS RECEIVABLE AND ALLOWANC31

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Activity in allowance for loan losses by portfolio segment
Beginning balance	$ 2,152	$ 2,226	$ 2,124	$ 2,299
Provision for loan losses	(175)	50	(100)	125
Loans charged-off	(256)	(129)	(407)	(364)
Recoveries on loans charged-off	337	174	441	261
Ending Balance	2,058	2,321	2,058	2,321
Commercial Financial and Agricultural Portfolio Segment [Member]
Activity in allowance for loan losses by portfolio segment
Beginning balance	604	289	342	415
Provision for loan losses	(181)	346	105	215
Loans charged-off			(30)
Recoveries on loans charged-off	5	5	11	10
Ending Balance	428	640	428	640
Commercial Real Estate Portfolio Segment [Member]
Activity in allowance for loan losses by portfolio segment
Beginning balance	952	1,308	1,170	1,366
Provision for loan losses	(164)	(228)	(386)	(268)
Loans charged-off	(179)		(179)	(83)
Recoveries on loans charged-off	316	111	320	176
Ending Balance	925	1,191	925	1,191
Single Family Residential Mortgage [Member]
Activity in allowance for loan losses by portfolio segment
Beginning balance	364	350	435	254
Provision for loan losses	176	(10)	70	182
Loans charged-off	(58)	(73)	(101)	(170)
Recoveries on loans charged-off	1	23	79	24
Ending Balance	483	290	483	290
Construction and Development Portfolio Segment [Member]
Activity in allowance for loan losses by portfolio segment
Beginning balance	6	52	3	72
Provision for loan losses	3	(48)	6	(69)
Loans charged-off
Recoveries on loans charged-off		5		6
Ending Balance	9	9	9	9
Consumer Portfolio Segment [Member]
Activity in allowance for loan losses by portfolio segment
Beginning balance	226	227	174	192
Provision for loan losses	(9)	(10)	105	65
Loans charged-off	(19)	(56)	(97)	(111)
Recoveries on loans charged-off	15	30	31	45
Ending Balance	$ 213	$ 191	$ 213	$ 191

LOANS RECEIVABLE AND ALLOWANC32

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Allocation of allowance for loan losses by portfolio segment
Specific Reserves, Impaired loans	$ 680		$ 650
Total specific reserves	680		650
General reserves	1,378		1,474
Total	2,058	$ 2,152	2,124	$ 2,321	$ 2,226	$ 2,299
Loans individually evaluated for impairment	10,460		9,809
Loans collectively evaluated for impairment	188,695		177,151
Total	199,155		186,960
Commercial Financial and Agricultural Portfolio Segment [Member]
Allocation of allowance for loan losses by portfolio segment
Specific Reserves, Impaired loans	74
Total specific reserves	74
General reserves	354		342
Total	428	604	342	640	289	415
Loans individually evaluated for impairment	150
Loans collectively evaluated for impairment	44,195		42,748
Total	44,345		42,748
Commercial Real Estate Portfolio Segment [Member]
Allocation of allowance for loan losses by portfolio segment
Specific Reserves, Impaired loans	426		550
Total specific reserves	426		550
General reserves	499		620
Total	925	952	1,170	1,191	1,308	1,366
Loans individually evaluated for impairment	9,884		9,392
Loans collectively evaluated for impairment	98,552		94,700
Total	108,436		104,092
Single Family Residential Mortgage [Member]
Allocation of allowance for loan losses by portfolio segment
Specific Reserves, Impaired loans	180		100
Total specific reserves	180		100
General reserves	303		335
Total	483	364	435	290	350	254
Loans individually evaluated for impairment	426		417
Loans collectively evaluated for impairment	31,758		30,679
Total	32,184		31,096
Construction and Development Portfolio Segment [Member]
Allocation of allowance for loan losses by portfolio segment
Specific Reserves, Impaired loans
Total specific reserves
General reserves	9		3
Total	9	6	3	9	52	72
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	6,838		2,220
Total	6,838		2,220
Consumer Portfolio Segment [Member]
Allocation of allowance for loan losses by portfolio segment
Specific Reserves, Impaired loans
Total specific reserves
General reserves	213		174
Total	213	$ 226	174	$ 191	$ 227	$ 192
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	7,352		6,804
Total	$ 7,352		$ 6,804

LOANS RECEIVABLE AND ALLOWANC33

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended	24 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2016
Impaired Loans - With Allowance, Unpaid Principal	$ 1,427		$ 4,940
Impaired Loans - With Allowance, Recorded Investment	783		4,940
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	680		650
Impaired Loans - With no Allowance, Unpaid Principal	10,439		5,427
Impaired Loans - With no Allowance, Recorded Investment	9,677		4,869
Average Recorded Investment	11,128	$ 11,631	10,554
Interest Income Recognized	147	383	627
Single Family Residential Mortgage [Member]
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	180		100
Single Family Residential Mortgage [Member] | First Mortgage [Member]
Impaired Loans - With Allowance, Unpaid Principal
Impaired Loans - With Allowance, Recorded Investment
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment
Interest Income Recognized
Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member]
Impaired Loans - With Allowance, Unpaid Principal	263		134
Impaired Loans - With Allowance, Recorded Investment	217		134
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	180		100
Impaired Loans - With no Allowance, Unpaid Principal	296		304
Impaired Loans - With no Allowance, Recorded Investment	209		283
Average Recorded Investment	388	214	209
Interest Income Recognized	5	26	43
Commercial Financial and Agricultural Portfolio Segment [Member]
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	74
Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal	150
Impaired Loans - With Allowance, Recorded Investment	150
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	74
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment	150
Interest Income Recognized
Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal
Impaired Loans - With Allowance, Recorded Investment
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment
Interest Income Recognized
Commercial Real Estate Portfolio Segment [Member]
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	426		550
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal	406		4,115
Impaired Loans - With Allowance, Recorded Investment	406		4,115
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	416		356
Impaired Loans - With no Allowance, Unpaid Principal	8,516		4,456
Impaired Loans - With no Allowance, Recorded Investment	7,901		3,972
Average Recorded Investment	8,593	8,526	8,666
Interest Income Recognized	129	200	391
Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal	608		691
Impaired Loans - With Allowance, Recorded Investment	10		691
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated	10		194
Impaired Loans - With no Allowance, Unpaid Principal	1,627		667
Impaired Loans - With no Allowance, Recorded Investment	1,567		614
Average Recorded Investment	1,997	2,841	1,679
Interest Income Recognized	13	127	193
Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal
Impaired Loans - With Allowance, Recorded Investment
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment		50
Interest Income Recognized		30
Construction and Development Portfolio Segment [Member]
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal
Impaired Loans - With Allowance, Recorded Investment
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment
Interest Income Recognized
Construction and Development Portfolio Segment [Member] | Improved Land Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal
Impaired Loans - With Allowance, Recorded Investment
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment
Interest Income Recognized
Construction and Development Portfolio Segment [Member] | Unimproved Land Financing Receivable [Member]
Impaired Loans - With Allowance, Unpaid Principal
Impaired Loans - With Allowance, Recorded Investment
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment
Interest Income Recognized
Consumer Portfolio Segment [Member]
Impaired Loans - With Allowance, Unpaid Principal
Impaired Loans - With Allowance, Recorded Investment
Impaired Loans - With Allowance, Allowance for Loan Losses Allocated
Impaired Loans - With no Allowance, Unpaid Principal
Impaired Loans - With no Allowance, Recorded Investment
Average Recorded Investment
Interest Income Recognized

LOANS RECEIVABLE AND ALLOWANC34

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details 5) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Total Past Due	$ 4,033	$ 6,160
Current	195,122	180,800
Total	199,155	186,960
Recorded Investment > 90 Days and Accruing	1
Nonaccrual	3,144	3,016
30 to 59 Days Past Due [Member]
Total Past Due	1,446	3,255
60 to 89 Days Past Due [Member]
Total Past Due	723	1,951
Equal to Greater than 90 Days Past Due [Member]
Total Past Due	1,864	954
Single Family Residential Mortgage [Member]
Total	32,184	31,096
Single Family Residential Mortgage [Member] | First Mortgage [Member]
Total Past Due	1,032	3,150
Current	19,345	19,253
Total	20,377	22,403
Recorded Investment > 90 Days and Accruing
Nonaccrual	1,160	1,246
Single Family Residential Mortgage [Member] | First Mortgage [Member] | 30 to 59 Days Past Due [Member]
Total Past Due		1,581
Single Family Residential Mortgage [Member] | First Mortgage [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	368	824
Single Family Residential Mortgage [Member] | First Mortgage [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due	664	745
Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member]
Total Past Due	548	456
Current	11,259	8,237
Total	11,807	8,693
Recorded Investment > 90 Days and Accruing
Nonaccrual	278	250
Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member] | 30 to 59 Days Past Due [Member]
Total Past Due	303	224
Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	106	59
Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due	139	173
Commercial Financial and Agricultural Portfolio Segment [Member]
Total	44,345	42,748
Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member]
Total Past Due	151	79
Current	39,669	36,144
Total	39,820	36,223
Recorded Investment > 90 Days and Accruing
Nonaccrual	150	30
Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member] | 30 to 59 Days Past Due [Member]
Total Past Due		49
Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	1
Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due	150	30
Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member]
Total Past Due
Current	4,525	6,525
Total	4,525	6,525
Recorded Investment > 90 Days and Accruing
Nonaccrual
Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | 30 to 59 Days Past Due [Member]
Total Past Due
Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | 60 to 89 Days Past Due [Member]
Total Past Due
Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due
Commercial Real Estate Portfolio Segment [Member]
Total	108,436	104,092
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member]
Total Past Due	1,230	1,267
Current	49,406	51,180
Total	50,636	52,447
Recorded Investment > 90 Days and Accruing
Nonaccrual	846	933
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member] | 30 to 59 Days Past Due [Member]
Total Past Due	728	931
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	209	336
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due	293
Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member]
Total Past Due	1,047	1,132
Current	52,067	45,684
Total	53,114	46,816
Recorded Investment > 90 Days and Accruing
Nonaccrual	699	551
Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member] | 30 to 59 Days Past Due [Member]
Total Past Due	414	441
Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	27	691
Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due	606
Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member]
Total Past Due
Current	4,686	4,829
Total	4,686	4,829
Recorded Investment > 90 Days and Accruing
Nonaccrual
Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member] | 30 to 59 Days Past Due [Member]
Total Past Due
Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member] | 60 to 89 Days Past Due [Member]
Total Past Due
Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due
Construction and Development Portfolio Segment [Member]
Total	6,838	2,220
Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member]
Total Past Due
Current	6,838	2,220
Total	6,838	2,220
Recorded Investment > 90 Days and Accruing
Nonaccrual
Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member] | 30 to 59 Days Past Due [Member]
Total Past Due
Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member] | 60 to 89 Days Past Due [Member]
Total Past Due
Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due
Consumer Portfolio Segment [Member]
Total Past Due	25	76
Current	7,327	6,728
Total	7,352	6,804
Recorded Investment > 90 Days and Accruing	1
Nonaccrual	11	6
Consumer Portfolio Segment [Member] | 30 to 59 Days Past Due [Member]
Total Past Due	1	29
Consumer Portfolio Segment [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	12	41
Consumer Portfolio Segment [Member] | Equal to Greater than 90 Days Past Due [Member]
Total Past Due	$ 12	$ 6

LOANS RECEIVABLE AND ALLOWANC35

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details 6) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Total	$ 199,155	$ 186,960
Single Family Residential Mortgage [Member]
Total	32,184	31,096
Single Family Residential Mortgage [Member] | First Mortgage [Member]
Total	20,377	22,403
Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member]
Total	11,807	8,693
Commercial Financial and Agricultural Portfolio Segment [Member]
Total	44,345	42,748
Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member]
Total	39,820	36,223
Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member]
Total	4,525	6,525
Commercial Real Estate Portfolio Segment [Member]
Total	108,436	104,092
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member]
Total	50,636	52,447
Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member]
Total	53,114	46,816
Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member]
Total	4,686	4,829
Construction and Development Portfolio Segment [Member]
Total	6,838	2,220
Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member]
Total	6,838	2,220
Consumer Portfolio Segment [Member]
Total	7,352	6,804
Pass [Member]
Total	188,543	175,676
Pass [Member] | Single Family Residential Mortgage [Member] | First Mortgage [Member]
Total	19,240	20,729
Pass [Member] | Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member]
Total	11,253	8,004
Pass [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member]
Total	39,670	36,193
Pass [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member]
Total	4,525	6,525
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member]
Total	43,791	45,274
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member]
Total	51,510	45,458
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member]
Total	4,387	4,524
Pass [Member] | Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member]
Total	6,838	2,220
Pass [Member] | Consumer Portfolio Segment [Member]
Total	7,329	6,749
Special Mention [Member]
Total	1,313	2,082
Special Mention [Member] | Single Family Residential Mortgage [Member] | First Mortgage [Member]
Total
Special Mention [Member] | Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member]
Total		66
Special Mention [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member]
Total
Special Mention [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member]
Total
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member]
Total	1,003	1,604
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member]
Total		107
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member]
Total	299	305
Special Mention [Member] | Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member]
Total
Special Mention [Member] | Consumer Portfolio Segment [Member]
Total	11
Substandard [Member]
Total	9,147	9,034
Substandard [Member] | Single Family Residential Mortgage [Member] | First Mortgage [Member]
Total	1,137	1,651
Substandard [Member] | Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member]
Total	404	547
Substandard [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member]
Total	150
Substandard [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member]
Total
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member]
Total	5,842	5,569
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member]
Total	1,604	1,251
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member]
Total
Substandard [Member] | Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member]
Total
Substandard [Member] | Consumer Portfolio Segment [Member]
Total	10	16
Doubtful [Member]
Total	152	168
Doubtful [Member] | Single Family Residential Mortgage [Member] | First Mortgage [Member]
Total		23
Doubtful [Member] | Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member]
Total	150	76
Doubtful [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Secured Financing Receivable [Member]
Total		30
Doubtful [Member] | Commercial Financial and Agricultural Portfolio Segment [Member] | Unsecured Financing Receivable [Member]
Total
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Financing Receivable [Member]
Total
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Non Owner Occupied Financing Receivable [Member]
Total
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Multi Family Financing Receivable [Member]
Total
Doubtful [Member] | Construction and Development Portfolio Segment [Member] | Construction Financing Receivable [Member]
Total
Doubtful [Member] | Consumer Portfolio Segment [Member]
Total	$ 2	$ 39

LOANS RECEIVABLE AND ALLOWANC36

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details 7) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)Number	Jun. 30, 2015USD ($)Number
Number of Contracts | Number	2	4
Troubled Debt Restructuring [Member]
Number of Contracts | Number	2	4
Pre-Modification Outstanding Recorded Investment	$ 86	$ 120
Post-Modification Outstanding Recorded Investment	$ 86	$ 120
Single Family Residential Mortgage [Member] | Home Equity Line of Credit [Member] | Troubled Debt Restructuring [Member]
Number of Contracts | Number	2	4
Pre-Modification Outstanding Recorded Investment	$ 86	$ 120
Post-Modification Outstanding Recorded Investment	$ 86	$ 120

LOANS RECEIVABLE AND ALLOWANC37

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Details Narrative) - Number	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Loans Receivable And Allowance For Loan Losses Details Narrative
Number of modifications contracts		2		4
Troubled debt restructurings that subsequently defaulted	1	1	1	1
Minimum period of restructured loan past due			90 days

FAIR VALUE OF FINANCIAL INSTR38

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	$ 114,732	$ 123,258
Other real estate owned	2,849	4,463	$ 4,668
State, county and municipal securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	28,354	29,457
Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	86,378	91,800
Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:		2,001
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	9,458	8,842
Fair Value, Inputs, Level 3 [Member] | Single Family Residential Mortgage [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	246	317
Fair Value, Inputs, Level 3 [Member] | Commercial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	76
Fair Value, Inputs, Level 3 [Member] | Other real estate owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	2,849	4,463
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	114,732	123,258
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | State, county and municipal securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	28,354	29,457
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	86,378	91,800
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:		2,001
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	114,732	123,258
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | State, county and municipal securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	28,354	29,457
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	86,378	91,800
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:		2,001
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans and Other real estate owned	12,629	13,622
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	9,458	8,842
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Single Family Residential Mortgage [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	246	317
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Commercial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	76
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Other real estate owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	2,849	4,463
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans and Other real estate owned	12,629	13,622
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	9,458	8,842
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Single Family Residential Mortgage [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	246	317
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Dependent Impaired loans	76
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other real estate owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	$ 2,849	$ 4,463

FAIR VALUE OF FINANCIAL INSTR39

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Commercial Real Estate Portfolio Segment [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral Dependent Impaired loans	$ 9,458	$ 8,842
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	5.00%	5.00%
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	20.00%	20.00%
Single Family Residential Mortgage [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral Dependent Impaired loans	$ 246	$ 317
Single Family Residential Mortgage [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	5.00%	5.00%
Single Family Residential Mortgage [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	20.00%	20.00%
Other real estate owned [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral Dependent Impaired loans	$ 2,849	$ 4,463
Other real estate owned [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	5.00%	5.00%
Other real estate owned [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	20.00%	20.00%
Commercial [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Collateral Dependent Impaired loans	$ 76
Commercial [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	5.00%
Commercial [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Negative adjustment for selling costs and changes in market conditions since appraisal (as a percent)	20.00%

FAIR VALUE OF FINANCIAL INSTR40

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Financial assets:
Cash and due from banks	$ 2,948	$ 2,577
Interest-bearing deposits with banks	53,098	29,820
Federal funds sold	16,537	16,500
Certificates of deposit	900	900
Other investments	958	965
Loans-net	197,097	184,836
Cash surrender value of life insurance	10,224	10,090
Financial liabilities:
Deposits	351,245	328,862
Advances from Federal Home Loan Bank	5,225	5,235
Commitments to Extend Credit [Member]
Off-balance-sheet financial instruments:
Notional amount	28,885	35,843
Estimated fair value
Letter of Credit [Member]
Off-balance-sheet financial instruments:
Notional amount	1,889	1,889
Estimated fair value
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Cash and due from banks	2,948	2,577
Interest-bearing deposits with banks	53,098	29,820
Federal funds sold	16,537	16,500
Certificates of deposit	900	900
Investment securities
Other investments	958	965
Cash surrender value of life insurance	10,224	10,090
Financial liabilities:
Deposits	228,113	212,820
Advances from Federal Home Loan Bank
Fair Value, Inputs, Level 2 [Member]
Financial assets:
Cash and due from banks
Interest-bearing deposits with banks
Federal funds sold
Certificates of deposit
Investment securities	114,732	123,258
Other investments
Loans-net
Cash surrender value of life insurance
Financial liabilities:
Deposits	123,909	116,391
Advances from Federal Home Loan Bank	5,225	5,235
Fair Value, Inputs, Level 3 [Member]
Financial assets:
Cash and due from banks
Interest-bearing deposits with banks
Federal funds sold
Certificates of deposit
Investment securities
Other investments
Loans-net	196,522	183,929
Cash surrender value of life insurance
Financial liabilities:
Deposits
Advances from Federal Home Loan Bank
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Financial assets:
Cash and due from banks	2,948	2,577
Interest-bearing deposits with banks	53,098	29,820
Federal funds sold	16,537	16,500
Certificates of deposit	900	900
Investment securities	114,732	123,258
Other investments	958	965
Loans-net	197,097	184,836
Cash surrender value of life insurance	10,224	10,090
Financial liabilities:
Deposits	351,245	328,862
Advances from Federal Home Loan Bank	5,225	5,235
Estimate of Fair Value, Fair Value Disclosure [Member]
Financial assets:
Cash and due from banks	2,948	2,577
Interest-bearing deposits with banks	53,098	29,820
Federal funds sold	16,537	16,500
Certificates of deposit	900	900
Investment securities	114,732	123,258
Other investments	958	965
Loans-net	196,522	183,929
Cash surrender value of life insurance	10,224	10,090
Financial liabilities:
Deposits	352,022	329,211
Advances from Federal Home Loan Bank	$ 5,225	$ 5,235

OTHER REAL ESTATE OWNED (Detail

OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Transactions in other real estate owned
Balance-beginning of period	$ 4,463	$ 4,668	$ 4,668
Additions	355	$ 94	976
Sales	(1,871)		(964)
Write downs	(98)		(217)
Balance-end of period	$ 2,849		$ 4,463

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Period over which the deposit assumption premiums are amortized			7 years
Gross Carrying Amount, Goodwill	$ 362		$ 362		$ 362
Amortized intangible asset:
Gross Carrying Amount, Core deposit intangibles	3,303		3,303		3,303
Accumulated Amortization, Core deposit intangibles	3,303		3,303		$ 3,185
Aggregate amortization expense of core deposit intangibles		$ 118	$ 118	$ 236

INTANGIBLE ASSETS (Details 1)

INTANGIBLE ASSETS (Details 1) $ in Thousands	Jun. 30, 2016USD ($)
Estimated aggregate amortization expense of core deposit intangibles
2,016	$ 118
2017 and thereafter

NET INCOME PER COMMON AND COM44

NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE (Details 2) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income Per Common And Common Equivalent Share Details 2
Options excluded from calculation of diluted earnings per share	32,500	24,877	32,500	24,877
Dilutive options included in calculation of diluted earnings per share		16,500		16,500
Total number of options outstanding	32,500	41,377	32,500	41,377

NET INCOME PER COMMON AND COM45

NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income (Numerator)
Basic earnings available to common stockholders	$ 690	$ 289	$ 989	$ 658
Nonvested restricted stock grant
Effect of dilutive securities: options to purchase common shares
Diluted earnings	$ 690	$ 289	$ 989	$ 658
Shares (Denominator)
Basic (in shares)	2,207	2,183	2,205	2,180
Nonvested restricted stock grant (in shares)	2	12	2	12
Effect of dilutive securities: options to purchase common shares (in shares)		17		17
Diluted (in shares)	2,209	2,212	2,207	2,209
Per Share Amount
Basic earnings per share available to common stockholders (in dollars per share)	$ 0.31	$ 0.13	$ 0.45	$ 0.3
Nonvested resticted stock grant (in dollars per share)
Effect of dilutive securities: options to purchase common shares (in dollars per shares)
Diluted earnings per share (in dollars per share)	$ 0.31	$ 0.13	$ 0.45	$ 0.3