HUNTINGTON — Northeast Indiana Bancorp, Inc. (OTCQB:  NIDB), the parent company of First Federal Savings Bank, announced Tuesday, July 14, net income for the six months ended June 30 increased $296,000 or 19.6 percent 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 return on average assets of 1.31 percent and a return on average equity of 11.63 percent compared to an annualized ROA of 1.12 percent and an annualized ROE of 10.60 percent for the six months ended June 30,2014.

Net income increased $244,000 or 36.2 percent to $918,000 ($0.77 per diluted common share) for the Company’s second quarter ended June 30, 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 ROA of 1.32 percent and a ROE of 11.66 percent compared to an annualized ROA of 1.00 percent and an ROE of 9.32 percent 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 Dec. 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 was $28.00 per common share. This is an increase of $2 per common share or 7.7 percent over the last reported trade of the stock on Dec. 31, 2014 of $26 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. utilizing the OTCQB platform under the symbol “NIDB”.  Our web site address is www.firstfedindiana.com.