Wednesday, October 18th, 2017

Northeast Indiana Bancorp, Inc. announce earnings

Posted: Friday, July 21, 2017

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, 2017 of $1.59 million ($1.32 per diluted common share) compared to net income of $1.96 million ($1.63 per diluted common share) for the six months ended June 30, 2016. The current six months earnings equates to an annualized ROA of 1.05% and an ROE of 9.20% compared to an annualized ROA of 1.34% and an annualized ROE of 11.72% for the six months ended June 30, 2016.

Net income was $760,000 ($0.63 per diluted common share) for the Company’s second quarter ended June 30, 2017 compared to net income of $887,000 ($0.77 per diluted common share) for the second quarter ended June 30, 2016. The current three months earnings equates to an annualized return on average assets (ROA) of 1.00% and a return on average equity (ROE) of 8.68% compared to an annualized ROA of 1.19% and an ROE of 10.49% for the three months ended June 30, 2016.

Net loans increased $8.5 million or 4.3% (8.6% annualized) to $205.3 million at June 30, 2017 compared to $196.8 million at December 31, 2016.  Shareholder’s equity was $35.4 million at June 30, 2017 compared to $33.6 million at December 31, 2016. Non-performing loans have also decreased $1.5 million or 32.5% from $4.8 million at December 31, 2016 to $3.3 million at June 30, 2017. The book value of NIDB’s stock was $29.15 per common share as of June 30, 2017. The number of outstanding common shares was 1,214,879 as of the same date. The last reported trade of the stock on July 13, 2017 was $33.00 per common share.

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington. 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.bank.