Note 1 - Basis of Presentation

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Basis of Presentation and Significant Accounting Policies [Text Block]

Note

1:

Basis of Presentation

The accompanying

condensed consolidated balance sheet of New Bancorp, Inc. (the Company) as of

December 31, 2016,

which has been derived from audited financial statements, and the unaudited condensed consolidated financial statements of the Company as of

June 30, 2017

and for the

three

and

six

months ended

June 30, 2017

and

2016,

were prepared in accordance with instructions for Form

10

-Q and Article

10

of Regulation S-

X

and, therefore, do

not

include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto of the Company for the year ended

December 31, 2016

included in the Company’s Form

10

-K. Reference is made to the accounting policies of the Company described in the Notes to the Financial Statements contained in the Form

10

-K.

In the opinion of management, all adjustments (consisting only of normal recurring adjustments)

which are necessary for a fair presentation of the unaudited financial statements have been included to present fairly the financial position as of

June 30, 2017

and the results of operations for the

three

and

six

months ended

June 30, 2017

and

2016,

and cash flows for the

six

months ended

June 30, 2017

and

2016.

All interim amounts have

not

been audited and the results of operations for the

three

and

six

months ended

June 30, 2017

herein, are

not

necessarily indicative of the results of operations to be expected for the entire year.

Principles of Consolidation

The consolidated financial s

tatements as of and for the periods ended

June 30, 2017

and

December 31, 2016,

include New Bancorp, Inc. and its wholly-owned subsidiary the New Buffalo Savings Bank (“the Bank”), together referred to as the “Company.” Intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with U.S.

generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of deferred tax assets and fair values of financial instruments.

       Reclassifications

  Certain reclassifications have been made to the

December 31, 2016

financial statements to conform to the

June 30, 2017

financial statement presentation.  These reclassifications had

no

effect on our results of operations.