NORTHEAST INDIANA BANCORP, INC. ANNOUNCES SECOND QUARTER 2024 EARNINGS
HUNTINGTON, Ind., July 19, 2024 /PRNewswire/ — Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, today announced net income of $1.6 million ($0.66 per diluted common share) for the second quarter ended June 30, 2024 compared to net income of $1.1 million ($0.46 per diluted common share) for the second quarter ended June 30, 2023. The current quarter earnings equate to an annualized return on average assets (ROA) of 1.24% and an annualized return on average equity (ROE) of 13.80% compared to an annualized ROA of 0.96% and an annualized ROE of 10.16% for the second quarter ending June 30, 2023. An increase in other non-interest income of $263,000 during the second quarter 2024 as compared to the same period in 2023 contributed to the increase of net income.
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