Note 8 - Employee Stock Ownership Plan

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

Note

8:

Employee Stock Ownership Plan

As part of the Company

’s stock conversion, shares were purchased by the ESOP with a loan from New Bancorp. All employees of the Bank meeting certain tenure requirements are entitled to

participate in the ESOP. Compensation expense related to the

ESOP was

$12,000

and

$25,000

for the

three

and

six

month periods ended

June 30, 2017,

respectively

.

The stock price at the formation date was

$10.00.

The aggregate fair value of the

48,378

unallocated shares was

$682,000

based on the

$14.09

closing price of our common stock on

June 30, 2017.