Thursday, April 25th, 2019

NE Indiana Bancorp, Inc. announces earnings

Posted: Friday, April 12, 2019

Northeast Indiana Bancorp, Inc., (OTCQB:  NIDB), the parent company of First Federal Savings Bank, has announced net income of $1.1 million ($0.88 per diluted common share) for the first quarter ended March 31, 2019. This earnings level was relatively unchanged when compared to earnings from the quarter ended March 31, 2018 of $1.1 million ($0.92 per diluted common share). The current three months earnings equate to an annualized return on average assets (ROA) of 1.24% and a return on average equity (ROE) of 11.20% compared to an ROA of 1.39% and an ROE of 12.41% for the prior year quarter ended March 31, 2018.

Total loans increased $5.7 million or 2.4% to $245.8 million at March 31, 2019 compared to total loans of $240.1 million at December 31, 2018. Total deposits increased $12.3 million or 5.3% to $245.7 million at March 31, 2019 compared to $233.4 million at December 31, 2018.

Shareholders’ equity increased $1.4 million to $38.7 million at March 31, 2019 compared to $37.3 million at December 31, 2018. The book value of NIDB stock was $32.09 per common share as of March 31, 2019. The number of outstanding common shares was 1,206,327. The last reported trade of the stock on April 9, 2019 was $36.11 per common share.

The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol “NIDB.” Their website address is www.firstfedhuntington.com.