First Federal Savings Bank announces first quarter numbers

Northeast Indiana Bancorp Inc., the parent company of First Federal Savings Bank, has announced net income of $1.1 million ($0.88 per diluted common share) for the first quarter ended March 31, 2019.

This earnings level was relatively unchanged when compared to earnings from the quarter ended March 31, 2018, of $1.1 million ($0.92 per diluted common share). The current three months earnings equate to an annualized return on average assets (ROA) of 1.24 percent and a return on average equity (ROE) of 11.20 percent compared to an ROA of 1.39 percent and an ROE of 12.41 percent for the prior year quarter ended March 31, 2018.

Total loans increased $5.7 million or 2.4 percent to $245.8 million at March 31, 2019, compared to total loans of $240.1 million at December 31, 2018. Total deposits increased $12.3 million or 5.3 percent to $245.7 million at March 31, 2019, compared to $233.4 million at Dec. 31, 2018.

Shareholders’ equity increased $1.4 million to $38.7 million at March 31, 2019, compared to $37.3 million at Dec. 31, 2018. The book value of NIDB stock was $32.09 per common share as of March 31, 2019. The number of outstanding common shares was 1,206,327. The last reported trade of the stock on April 9, 2019 was $36.11 per common share.

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson St., 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, Warsaw and Fort Wayne.

The company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol “NIDB.” The company web site address is www.firstfedindiana.bank.