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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2013

INVESTMENT SECURITIES [Abstract]

Schedule of Cost Basis and Fair Values of Investment Securities

Investment securities available for sale:

		AT DECEMBER 31, 2013
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency		$	6,926			$	35			$	(126)			$	6,835
Corporate bonds			11,992				21				(252)				11,761
U.S. Agency mortgage-backed securities			121,480				3,129				(1,227)				123,382
Total		$	140,398			$	3,185			$	(1,605)			$	141,978

Investment securities held to maturity:

		AT DECEMBER 31, 2013
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency mortgage-backed securities		$	12,671			$	289			$	(477)			$	12,483
Taxable municipal			1,521				-				(120)				1,401
Corporate bonds and other securities			3,995				-				(91)				3,904
Total		$	18,187			$	289			$	(688)			$	17,788

Investment securities available for sale:

		AT DECEMBER 31, 2012
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency		$	5,848			$	70			$	(7	)		$	5,911
Corporate bonds			7,992				3				(103	)			7,892
U.S. Agency mortgage-backed securities			131,425				6,320				(10	)			137,735
Total		$	145,265			$	6,393			$	(120	)		$	151,538

Investment securities held to maturity:

		AT DECEMBER 31, 2012
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency mortgage-backed securities		$	9,318			$	578			$	-			$	9,896
Taxable municipal			410				6				-				416
Corporate bonds and other securities			3,995				14				(55	)			3,954
Total		$	13,723			$	598			$	(55	)		$	14,266

Schedule of Contractual Maturities of Securities

Investment securities available for sale:

		AT DECEMBER 31, 2013
		U. S. AGENCY								U.S. AGENCY MORTGAGE- BACKED SECURITIES								CORPORATE BONDS								TOTAL INVESTMENT SECURITIES AVAILABLE FOR SALE
		(IN THOUSANDS, EXCEPT YIELDS)
COST BASIS
Within 1 year		$	-				-%			$	-				-%			$	-				-%			$	-				-%
After 1 year but within 5 years			5,926				1.50				1,813				4.54				7,994				1.56				15,733				1.90
After 5 years but within 10 years			1,000				1.43				12,381				2.88				3,998				1.91				17,379				2.59
After 10 years but within 15 years			-				-				64,347				2.74				-				-				64,347				2.74
Over 15 years			-				-				42,939				2.74				-				-				42,939				2.74
Total		$	6,926				1.49			$	121,480				2.78			$	11,992				1.68			$	140,398				2.63
FAIR VALUE
Within 1 year		$	-							$	-							$	-							$	-
After 1 year but within 5 years			5,898								1,934								7,947								15,779
After 5 years but within 10 years			937								12,735								3,814								17,486
After 10 years but within 15 years			-								64,751								-								64,751
Over 15 years			-								43,962								-								43,962
Total		$	6,835							$	123,382							$	11,761							$	141,978

Investment securities held to maturity:

		AT DECEMBER 31, 2013
		U.S. AGENCY MORTGAGE-BACKED SECURITIES								CORPORATE BONDS AND OTHER								TOTAL INVESTMENT SECURITIES HELD TO MATURITY
		(IN THOUSANDS, EXCEPT YIELDS)
COST BASIS
Within 1 year		$	-				-%			$	-				-%			$	-				-%
After 1 year but within 5 years			-				-				3,000				1.46				3,000				1.46
After 5 years but within 10 years			1,760				2.10				-				-				1,760				2.10
After 10 years but within 15 years			-				-				1,011				3.14				1,011				3.14
Over 15 years			10,911				3.49				1,505				4.54				12,416				3.62
Total		$	12,671				3.30			$	5,516				2.61			$	18,187				3.09
FAIR VALUE
Within 1 year		$	-							$	-							$	-
After 1 year but within 5 years			-								2,966								2,966
After 5 years but within 10 years			1,618								-								1,618
After 10 years but within 15 years			-								891								891
Over 15 years			10,865								1,448								12,313
Total		$	12,483							$	5,305							$	17,788

Schedule of Information Concerning Investments with Unrealized Losses

Investment securities available for sale:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
U.S. Agency		$	3,812			$	(64)			$	938			$	(62)			$	4,750			$	(126)
U.S. Agency mortgage-backed securities			43,402				(1,224)				669				(3)				44,071				(1,227)
Corporate bonds			6,777				(215)				1,963				(37)				8,740				(252)
Total		$	53,991			$	(1,503)			$	3,570			$	(102)			$	57,561			$	(1,605)

Investment securities held to maturity:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
Corporate bonds/taxable municipals and other securities		$	3,801			$	(205)			$	994			$	(6)			$	4,795			$	(211)
U.S. Agency mortgage-backed securities			8,761				(477)				-				-				8,761				(477)
Total		$	12,562			$	(682)			$	994			$	(6)			$	13,556			$	(688)

The following tables present information concerning investments with unrealized losses as of December 31, 2012 (in thousands):

Investment securities available for sale:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
U.S. Agency		$	993			$	(7	)		$	-			$	-			$	993			$	(7	)
U.S. Agency mortgage-backed securities			1,140				(8	)			349				(2	)			1,489				(10	)
Corporate bonds			6,898				(103	)			-				-				6,898				(103	)
Total		$	9,031			$	(118	)		$	349			$	(2	)		$	9,380			$	(120	)

Investment securities held to maturity:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
Corporate bonds and other securities		$	965			$	(35	)		$	1,981			$	(20	)		$	2,946			$	(55	)
Total		$	965			$	(35	)		$	1,981			$	(20	)		$	2,946			$	(55	)

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563

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