Saturday, June 24th, 2017

NEIB announces second quarter earnings

Posted: Friday, July 17, 2015

Northeast Indiana Bancorp, Inc. (OTCQB:  NIDB), the parent company of First Federal Savings Bank, today announced net income for the six months ended June 30, 2015 increased $296,000 or 19.6% to $1.8 million ($1.51 per diluted common share) compared to net income of $1.5 million ($1.24 per diluted common share) for the six months ended June 30, 2014.  The current six months earnings equates to an annualized ROA of 1.31% and an ROE of 11.63% compared to an annualized ROA of 1.12% and an annualized ROE of 10.60% for the six months ended June 30, 2014.

Net income increased $244,000 or 36.2% to $918,000 ($0.77 per diluted common share) for the Company’s second quarter ended June 30, 2015 compared to net income of $674,000 ($0.56 per diluted common share) for the second quarter ended June 30, 2014.  The current three months earnings equates to an annualized return on average assets (ROA) of 1.32% and a return on average equity (ROE) of 11.66% compared to an annualized ROA of 1.00% and an ROE of 9.32% for the three months ended June 30, 2014.

Shareholder's equity was $31.5 million at June 30, 2015 compared to $30.4 million at December 31, 2014.  The book value of NIDB’s stock was $26.22 per common share as of June 30, 2015.  The number of outstanding common shares was 1,199,879 as of the same date.  The last reported trade of the stock on July 13, 2015 was $28.00 per common share.  This is an increase of $2.00 per common share or 7.7% over the last reported trade of the stock on December 31, 2014 of $26.00 per common share.

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana.  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 in Huntington (2), Warsaw and Fort Wayne (2).  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.com.