Sunday, May 31st, 2020

NE Indiana Bancorp announce quarterly earnings

Posted: Friday, April 17, 2020

Northeast Indiana Bancorp, Inc., (OTCQB:  NIDB), the parent company of First Federal Savings Bank, has announced net income of $1.03 million ($0.86 per diluted common share) for the first quarter ended March 31, 2020. This earnings level was relatively unchanged when compared to earnings from the quarter ended March 31, 2019 of $1.06 million ($0.88 per diluted common share). The current three months earnings equate to an annualized return on average assets (ROA) of 1.16% and a return on average equity (ROE) of 9.86% compared to a ROA of 1.24% and ROE of 11.20% for the prior year quarter ended March 31, 2019.

Total loans decreased $1.8 million to $251.6 million at March 31, 2020 compared to total loans of $253.4 million at December 31, 2019. Total deposits increased $7.6 million or 3.0% to $259.9 million at March 31, 2020 compared to $252.3 million at December 31, 2019.

Shareholders’ equity increased $1.6 million to $42.9 million at March 31, 2020 compared to $41.3 million at December 31, 2019. The book value of NIDB stock increased $1.18 to $35.43 per common share as of March 31, 2020 compared to $34.25 at December 31, 2019. The number of outstanding common shares was 1,210,327. The last reported trade of the stock on April 10, 2020 was $28.45 per common share.