FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Assets measured at fair value

		Fair Value Measurements Using						Assets at
(in thousands)		Level 1		Level 2		Level 3		fair value
March 31, 2013
Assets at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,719	$	—	$	2,719
U.S. Government agency notes		—		7,697		—		7,697
Municipal bonds		—		45,856		—		45,856
Mortgage-backed securities:
U.S. Government agencies		—		43,958		—		43,958
Collateralized mortgage obligations:
U.S. Government agencies		—		4,752		—		4,752
Non-agency		—		10,690		—		10,690
SBA bonds		—		2,681		—		2,681
Corporate bonds		—		—		—		—
Preferred stocks		311		—		—		311
Securities available-for-sale	$	311	$	118,353	$	—	$	118,664
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans	$	—	$	—	$	7,947	$	7,947
Other real estate owned		—		—		712		712
December 31, 2012
Assets at fair value on a recurring basis
U.S. Treasury notes	$	—	$	2,733	$	—	$	2,733
U.S. Government agency notes		—		7,726		—		7,726
Municipal bonds		—		47,365		—		47,365
Mortgage-backed securities:
U.S. Government agencies		—		48,729		—		48,729
Collateralized mortgage obligations:
U.S. Government agencies		—		5,197		—		5,197
Non-agency		—		11,507		—		11,507
SBA bonds		—		2,863		—		2,863
Preferred stocks	$	167	$	126,120	$	—	$	126,287
Securities available-for-sale
Assets at fair value on a non-recurring basis
Collateral dependent impaired loans		—		—		8,434		8,434
Other real estate owned		—		—		244		244

20

Carrying values and estimated fair values of financial instruments

					Fair value measurements using
(in thousands)		Carrying value		Estimated fair value		Level 1		Level 2		Level 3
March 31, 2013
Financial Assets
Cash and due from banks	$	31,441	$	31,441	$	31,441	$	—	$	—
Securities available-for-sale		118,664		118,664		311		118,353		—
Federal Home Loan Bank stock		5,340		5,340		—		5,340		—
Loans held-for-sale		710		710		—		—		710
Loans receivable net		406,258		406,258		—		—		406,258
Accrued interest receivable		2,021		2,021		—		—		2,021
Financial Liabilities
Demand (non-interest-bearing)	$	88,464	$	88,464	$	—	$	—	$	88,464
Demand (interest-bearing)		67,714		67,714		—		—		67,714
Money market		129,832		129,832		—		—		129,832
Savings and other		109,657		109,657		—		—		109,657
Certificates of deposit		92,106		92,886		—		—		92,886
Deposits		487,773		488,553		—		—		488,553
FHLBB advances		31,574		35,203		—		—		35,203
Repurchase agreements		2,329		2,329		—		—		2,329
Accrued interest payable		163		163		—		—		163
December 31, 2012
Financial Assets
Cash and due from banks	$	43,574	$	43,574	$	43,574	$	—	$	—
Securities available-for-sale		126,287		126,287		167		126,120		—
Federal Home Loan Bank stock		5,747		5,747		—		5,747		—
Loans held-for-sale		1,879		1,893		—		—		1,893
Loans receivable net		388,758		389,292		—		—		389,292
Accrued interest receivable		1,818		1,818		—		—		1,818
Financial Liabilities
Demand (non-interest-bearing)	$	98,850	$	98,850	$	—	$	—	$	98,850
Demand (interest-bearing)		65,991		65,991		—		—		65,991
Money market		128,501		128,501		—		—		128,501
Savings and other		103,985		103,985		—		—		103,985
Certificates of deposit		93,888		94,894		—		—		94,894
Deposits		491,215		492,221		—		—		492,221
FHLBB advances		31,980		35,363		—		—		35,363
Repurchase agreements		1,784		1,784		—		—		1,784
Accrued interest payable		196		196		—		—		196