SECURITIES (Tables)

6 Months Ended

Jun. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Composition of Securities

(in thousands)	Amortized cost (1)		Gross un- realized gains		Gross un-realized losses			Fair value
June 30, 2014
Available-for-sale
U.S. Treasury notes	$	2,497	$	138	$	—		$	2,635
U.S. Government Agency notes		2,503		41		—			2,544
Municipal bonds		38,249		1,004		(445	)		38,808
Mortgage-backed securities
U.S. Government Agencies		30,389		703		(13	)		31,079
Collateralized mortgage obligations
U.S. Government Agencies		3,075		29		—			3,104
Non-agency		6,905		557		(19	)		7,443
SBA bonds		1,729		129		—			1,858
Preferred stock		20		965		—			985
Total securities available-for-sale	$	85,367	$	3,566	$	(477	)	$	88,456
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	4,428	$	—	$	—		$	4,428

(in thousands)	Amortized cost (1)		Gross un- realized gains		Gross un-realized losses			Fair value
December 31, 2013
Available-for-sale
U.S. Treasury notes	$	2,497	$	160	$	—		$	2,657
U.S. Government Agency notes		2,507		83		—			2,590
Municipal bonds		41,775		782		(2,120	)		40,437
Mortgage-backed securities
U.S. Government Agencies		33,522		442		(72	)		33,892
Collateralized mortgage obligations
U.S. Government Agencies		3,545		35		—			3,580
Non-agency		7,923		401		(16	)		8,308
SBA bonds		2,042		188		—			2,230
Preferred stock		20		777		—			797
Total securities available-for-sale	$	93,831	$	2,868	$	(2,208	)	$	94,491
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	5,340	$	—	$	—		$	5,340

(1) Net of other-than-temporary impairment write-downs recognized in earnings.

Aggreggate fair value and gross unrealized loss of securities

		Less than 12 Months				12 Months or Longer				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in thousands)		Value		losses		value		losses		value		losses
June 30, 2014
Available-for-sale
Municipal bonds	$	752	$	2	$	6,070	$	443	$	6,822	$	445
Mortgage-backed securities		486		2		2,047		11		2,533		13
Collateralized mortgage obligations
Non-agency		—		—		178		4		178		4
Total temporarily impaired securities		1,238		4		8,295		458		9,533		462
Other-than-temporarily impaired securities
Collateralized mortgage obligations
Non-agency		286		15		—		—		286		15
Total temporarily and other-than-temporarily impaired securities	$	1,524	$	19	$	8,295	$	458	$	9,819	$	477

Activity related to credit losses recognized into earnings

Six months ended June 30 (in thousands)		2014		2013
Balance, beginning of period	$	1,128	$	1,128
Credit component on debt securities in which OTTI was not previously recognized		—		—
Balance, end of period	$	1,128	$	1,128