Monday, February 24th, 2020

NEIB announces meeting, quarterly cash dividends

Posted: Friday, January 31, 2020

Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, has announced that the corporation will hold its twenty-fifth annual shareholders’ meeting on April 28, 2020 at 1 p.m., local time.  The meeting will be held in the boardroom of First Federal Savings Bank at 100 Frontage Road. The holders of record date for the annual meeting will be March 11, 2020.

The company also announced a quarterly cash dividend of $0.27 per common share. This cash dividend will be payable on February 27, 2020 to common shareholders of record on February 13, 2020.

The book value of NIDB’s stock was $34.25 per common share as of December 31, 2019. The last reported trade of the company’s stock at the close of business on January 28, 2020 was $41 per common share and the number of outstanding common shares was 1,206,327 as of the same date. The annualized dividend yield is currently 2.6% when annualizing the current quarter cash dividend of $0.27 per common share against the January 28, 2020 closing price of $41 per common share.

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and five full-service Indiana offices. The company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol “NIDB.” Our web site address is www.firstfedindiana.bank.