NORTHEAST INDIANA BANCORP, INC. ANNOUNCES FIRST QUARTER 2024 EARNINGS

April 24, 2024

HUNTINGTON, Ind., April 24, 2024 /PRNewswire/ — Northeast Indiana Bancorp, Inc., (OTCQB:  NIDB), the parent company of First Federal Savings Bank, today announced net income of $722,000 ($0.30 per diluted common share) for the first quarter ended March 31, 2024 compared to earnings from the quarter ended March 31, 2023 of $1.17 million ($0.49 per diluted common share).  The current three months earnings equate to an annualized return on average assets (ROA) of 0.57% and a return on average equity (ROE) of 6.26% compared to an ROA of 1.04% and an ROE of 10.75% for the prior year quarter ended March 31, 2023.

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