NORTHEAST INDIANA BANCORP, INC. ANNOUNCES FIRST QUARTER 2025 EARNINGS
Northeast Indiana Bancorp (OTCQB: NIDB) reported strong Q1 2025 financial results with net income of $1.06 million ($0.44 per diluted share), up from $722,000 ($0.30 per share) in Q1 2024. The company achieved an annualized ROA of 0.80% and ROE of 8.71%, improving from 0.57% and 6.26% respectively year-over-year.
Key metrics show substantial growth: Total assets increased 15.6% annualized to $542.6 million, total loans grew 23.7% annualized to $413.7 million, and deposits rose 12.2% annualized to $442.1 million. The bank's credit quality improved with non-performing loans to gross loans decreasing to 1.24% from 1.84% year-over-year.
Shareholders' equity increased by $1 million to $49.3 million, with book value per share rising to $20.57 from $20.14 in the previous quarter.
Northeast Indiana Bancorp (OTCQB: NIDB) ha riportato solidi risultati finanziari nel primo trimestre 2025 con un utile netto di 1,06 milioni di dollari (0,44 dollari per azione diluita), in aumento rispetto a 722.000 dollari (0,30 dollari per azione) nel primo trimestre 2024. L'azienda ha raggiunto un ROA annualizzato dello 0,80% e un ROE dell'8,71%, migliorando rispettivamente dallo 0,57% e dal 6,26% anno su anno.
I principali indicatori mostrano una crescita significativa: gli attivi totali sono aumentati del 15,6% annualizzato a 542,6 milioni di dollari, i prestiti totali sono cresciuti del 23,7% annualizzato a 413,7 milioni di dollari e i depositi sono saliti del 12,2% annualizzato a 442,1 milioni di dollari. La qualità del credito della banca è migliorata con i prestiti non performanti sul totale dei prestiti lordi che sono scesi all'1,24% dall'1,84% anno su anno.
Il patrimonio netto degli azionisti è aumentato di 1 milione di dollari, raggiungendo 49,3 milioni di dollari, con il valore contabile per azione salito a 20,57 dollari rispetto ai 20,14 dollari del trimestre precedente.
Northeast Indiana Bancorp (OTCQB: NIDB) reportó sólidos resultados financieros en el primer trimestre de 2025 con un ingreso neto de 1,06 millones de dólares (0,44 dólares por acción diluida), aumentando desde 722.000 dólares (0,30 dólares por acción) en el primer trimestre de 2024. La compañía alcanzó un ROA anualizado del 0,80% y un ROE del 8,71%, mejorando desde 0,57% y 6,26% respectivamente año tras año.
Las métricas clave muestran un crecimiento sustancial: los activos totales aumentaron un 15,6% anualizado a 542,6 millones de dólares, los préstamos totales crecieron un 23,7% anualizado a 413,7 millones de dólares y los depósitos subieron un 12,2% anualizado a 442,1 millones de dólares. La calidad crediticia del banco mejoró con los préstamos en mora sobre préstamos brutos disminuyendo al 1,24% desde 1,84% año tras año.
El patrimonio de los accionistas aumentó en 1 millón de dólares hasta 49,3 millones, con el valor en libros por acción subiendo a 20,57 dólares desde 20,14 dólares en el trimestre anterior.
Northeast Indiana Bancorp (OTCQB: NIDB)는 2025년 1분기에 순이익 106만 달러 (희석 주당 0.44달러)를 기록하며 2024년 1분기의 72만 2천 달러 (주당 0.30달러)에서 증가한 강력한 재무 성과를 보고했습니다. 회사는 연환산 ROA 0.80%와 ROE 8.71%를 달성하여 전년 동기 대비 각각 0.57%와 6.26%에서 개선되었습니다.
주요 지표는 상당한 성장을 보여줍니다: 총자산은 연환산 15.6% 증가하여 5억 4,260만 달러에 달했고, 총대출은 연환산 23.7% 증가한 4억 1,370만 달러, 예금은 연환산 12.2% 증가한 4억 4,210만 달러에 이르렀습니다. 은행의 신용 품질은 부실 대출 비율이 총 대출 대비 1.84%에서 1.24%로 개선되었습니다.
주주 자본은 100만 달러 증가하여 4,930만 달러가 되었으며, 주당 장부 가치는 이전 분기의 20.14달러에서 20.57달러로 상승했습니다.
Northeast Indiana Bancorp (OTCQB : NIDB) a annoncé de solides résultats financiers pour le premier trimestre 2025 avec un bénéfice net de 1,06 million de dollars (0,44 dollar par action diluée), en hausse par rapport à 722 000 dollars (0,30 dollar par action) au premier trimestre 2024. La société a réalisé un ROA annualisé de 0,80 % et un ROE de 8,71 %, en amélioration par rapport à 0,57 % et 6,26 % respectivement d'une année sur l'autre.
Les indicateurs clés montrent une croissance substantielle : le total des actifs a augmenté de 15,6 % annualisé pour atteindre 542,6 millions de dollars, les prêts totaux ont crû de 23,7 % annualisé à 413,7 millions de dollars, et les dépôts ont progressé de 12,2 % annualisé à 442,1 millions de dollars. La qualité du crédit de la banque s'est améliorée avec une baisse des prêts non performants par rapport aux prêts bruts, passant de 1,84 % à 1,24 % d'une année sur l'autre.
Les capitaux propres des actionnaires ont augmenté de 1 million de dollars pour atteindre 49,3 millions de dollars, avec une valeur comptable par action en hausse à 20,57 dollars contre 20,14 dollars au trimestre précédent.
Northeast Indiana Bancorp (OTCQB: NIDB) meldete starke Finanzergebnisse für das erste Quartal 2025 mit einem Nettogewinn von 1,06 Millionen US-Dollar (0,44 US-Dollar je verwässerter Aktie), gegenüber 722.000 US-Dollar (0,30 US-Dollar je Aktie) im ersten Quartal 2024. Das Unternehmen erzielte eine annualisierte Gesamtkapitalrendite (ROA) von 0,80 % und eine Eigenkapitalrendite (ROE) von 8,71 %, was eine Verbesserung gegenüber 0,57 % bzw. 6,26 % im Jahresvergleich darstellt.
Wichtige Kennzahlen zeigen ein erhebliches Wachstum: Die Gesamtaktiva stiegen annualisiert um 15,6 % auf 542,6 Millionen US-Dollar, die Gesamtkredite wuchsen annualisiert um 23,7 % auf 413,7 Millionen US-Dollar, und die Einlagen erhöhten sich annualisiert um 12,2 % auf 442,1 Millionen US-Dollar. Die Kreditqualität der Bank verbesserte sich, da notleidende Kredite im Verhältnis zu den Bruttokrediten von 1,84 % auf 1,24 % zurückgingen.
Das Eigenkapital der Aktionäre stieg um 1 Million US-Dollar auf 49,3 Millionen US-Dollar, wobei der Buchwert je Aktie von 20,14 US-Dollar im Vorquartal auf 20,57 US-Dollar anstieg.
- Net income increased 46.6% year-over-year to $1.06 million
- EPS grew 46.7% to $0.44 from $0.30 year-over-year
- Strong loan growth of 23.7% annualized
- Deposit growth of 12.2% annualized
- Improved credit quality with NPLs decreasing to 1.24% from 1.84%
- Net interest margin improved to 3.23% from 2.99% year-over-year
- Higher provision for credit losses at $620,017 vs $500,000 year-over-year
- Increased net charge-offs of 0.99% compared to -0.02% in previous quarter
- Non-interest expense remained elevated at $3 million
Net interest income increased
Total assets increased
Non-performing loans to gross loans were
Shareholders' equity increased
Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street,
This press release may contain forward-looking statements, which are based on management's current expectations regarding economic, legislative and regulatory issues. Factors which may cause future results to vary materially include, but are not limited to, general economic conditions, changes in interest rates, loan demand, and competition. Additional factors include changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, regulatory and technological factors affecting each company's operations, pricing, products and services.
NORTHEAST INDIANA BANCORP | |||||
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | |||||
March 31, | December 31, | March 31, | |||
Balance Sheet (Unaudited) | 2025 | 2024 | 2024 | ||
(Audited) | |||||
Assets | |||||
Non-interest earning cash and cash equivalents | $ 5,788,111 | $ 3,754,395 | $ 2,479,777 | ||
Interest-earning cash and cash equivalents | 864,862 | 6,452,143 | 3,661,568 | ||
Total cash and cash equivalents | 6,652,973 | 10,206,538 | 6,141,345 | ||
Interest-earning time deposits | 3,410,000 | 4,275,000 | 4,520,000 | ||
Securities available for sale | 76,415,124 | 74,789,791 | 76,768,514 | ||
Securities held to maturity | 11,574,919 | 11,602,482 | 11,630,908 | ||
Loans held for sale | 161,175 | 71,200 | 74,900 | ||
Loans, gross | 420,051,989 | 397,334,479 | 385,129,684 | ||
Allowance for credit losses | (6,381,216) | (6,771,171) | (5,790,301) | ||
Loans, net | 413,670,773 | 390,563,308 | 379,339,383 | ||
Accrued interest receivable | 2,367,992 | 2,237,407 | 2,455,724 | ||
Premises and equipment | 7,884,632 | 7,907,303 | 7,752,161 | ||
FHLB Stock | 2,835,000 | 2,835,000 | 2,835,000 | ||
Cash surrender value of life insurance | 12,243,227 | 12,159,543 | 12,334,196 | ||
Other assets | 5,420,798 | 5,676,203 | 5,508,735 | ||
Total Assets | $ 542,636,613 | $ 522,323,775 | $ 509,360,866 | ||
Liabilities and Stockholders' Equity | |||||
Non-interest bearing deposits | $ 50,913,707 | $ 48,168,488 | $ 50,297,770 | ||
Interest bearing deposits | 391,154,920 | 380,771,626 | 353,098,422 | ||
Borrowed funds | 46,300,000 | 41,000,000 | 56,000,000 | ||
Accrued interest payable and other liabilities | 4,954,691 | 4,106,965 | 3,675,681 | ||
Total Liabilities | 493,323,318 | 474,047,079 | 463,071,873 | ||
Stockholders' equity | 49,313,295 | 48,276,696 | 46,288,993 | ||
Total Liabilities and Stockholders' Equity | $ 542,636,613 | $ 522,323,775 | $ 509,360,866 | ||
Three months ended | |||||
March 31, | December 31, | March 31, | |||
Income Statement (Unaudited) | 2025 | 2024 | 2024 | ||
Net interest income | |||||
Total interest income | $ 7,225,168 | $ 7,243,589 | $ 6,729,934 | ||
Total interest expense | 3,087,649 | 3,275,092 | 3,105,342 | ||
Net interest income | 4,137,519 | 3,968,497 | 3,624,592 | ||
Provision for credit loss expense | |||||
Loans | 620,017 | 423,538 | 500,000 | ||
Off-balance sheet credit exposures | - | 105,000 | - | ||
Total provision for credit loss expense | 620,017 | 528,538 | 500,000 | ||
Net interest income after provision for credit losses | 3,517,502 | 3,439,959 | 3,124,592 | ||
Non-interest income | |||||
Service charges on deposit accounts | 157,638 | 176,311 | 178,670 | ||
Interchange fees | 189,909 | 195,040 | 200,018 | ||
Loan servicing fees | 116,046 | 69,887 | 109,708 | ||
Net gain on sale of loans | 48,032 | 57,991 | 36,024 | ||
Increase in cash surrender value of life insurance | 83,684 | 84,117 | 82,543 | ||
Other income | 116,244 | 76,746 | 87,825 | ||
Total non-interest income | 711,553 | 660,092 | 694,788 | ||
Non-interest expense | |||||
Salaries and employee benefits | 1,646,304 | 1,529,333 | 1,640,271 | ||
Occupancy | 432,190 | 365,647 | 355,051 | ||
Data processing | 379,124 | 433,325 | 438,832 | ||
Deposit insurance premiums | 82,500 | 57,000 | 74,000 | ||
Professional fees | 134,494 | 167,477 | 104,013 | ||
Advertising and marketing fees | 86,048 | 61,688 | 87,680 | ||
Correspondent bank charges | 22,615 | 53,454 | 39,596 | ||
Other expense | 262,123 | 458,329 | 341,495 | ||
Total non-interest expense | 3,045,398 | 3,126,253 | 3,080,938 | ||
Income before income taxes | 1,183,657 | 973,798 | 738,442 | ||
Income tax expense | 124,696 | 1,341 | 16,252 | ||
Net income | $ 1,058,961 | $ 972,457 | $ 722,190 | ||
Three months ended | |||||
March 31, | December 31, | March 31, | |||
Selected Financial Ratios and Other Financial Data (Unaudited) | 2025 | 2024 | 2024 | ||
Average shares outstanding - basic | 2,379,792 | 2,378,357 | 2,405,122 | ||
Average shares outstanding - diluted | 2,379,792 | 2,378,357 | 2,405,122 | ||
Basic earnings per share | $ 0.44 | $ 0.41 | $ 0.30 | ||
Diluted earnings per share | $ 0.44 | $ 0.41 | $ 0.30 | ||
Net interest margin (1) | 3.23 % | 3.13 % | 2.99 % | ||
Return on average assets (1) | 0.80 % | 0.74 % | 0.57 % | ||
Return on average equity (1) | 8.71 % | 8.01 % | 6.26 % | ||
Efficiency ratio | 62.80 % | 67.54 % | 71.33 % | ||
Allowance for credit losses: | |||||
Balance, beginning of period | $ 6,771,171 | $ 6,326,783 | $ 5,335,305 | ||
Charge-offs: | |||||
One-to-four family | - | - | - | ||
Commercial real estate | - | - | - | ||
Land/land development | - | - | - | ||
Commercial | 959,749 | 20,441 | - | ||
Consumer | 84,138 | 21,194 | 69,725 | ||
Gross charge-offs | 1,043,887 | 41,635 | 69,725 | ||
Recoveries: | |||||
One-to-four family | 3,247 | 39,022 | - | ||
Commercial real estate | - | - | - | ||
Land/land development | - | - | - | ||
Commercial | - | - | - | ||
Consumer | 30,668 | 23,463 | 24,721 | ||
Gross recoveries | 33,915 | 62,485 | 24,721 | ||
Net charge-offs (recoveries) | 1,009,972 | (20,850) | 45,004 | ||
Provision for credit losses | 620,017 | 423,538 | 500,000 | ||
Balance, end of period | $ 6,381,216 | $ 6,771,171 | $ 5,790,301 | ||
Net loan charge-offs (recoveries) to average loans | 0.99 % | -0.02 % | 0.05 % | ||
As of | |||||
March 31, | December 31, | March 31, | |||
Non-performing assets | 2025 | 2024 | 2024 | ||
Loans: | |||||
Non-accrual | $ 2,636,083 | $ 5,031,555 | $ 6,547,940 | ||
Past 90 days or more and still accruing | - | - | - | ||
Troubled debt modification | 2,573,342 | 926,960 | 524,970 | ||
Total non-performing loans | 5,209,425 | 5,958,515 | 7,072,910 | ||
Real estate owned | - | - | - | ||
Other repossessed assets | - | - | - | ||
Total non-performing assets | $ 5,209,425 | $ 5,958,515 | $ 7,072,910 | ||
Non-performing assets to total assets | 0.96 % | 1.14 % | 1.39 % | ||
Non-performing loans to gross loans | 1.24 % | 1.50 % | 1.84 % | ||
Allowance for credit losses to non-performing loans | 122.49 % | 113.64 % | 81.87 % | ||
Allowance for credit losses to gross loans | 1.52 % | 1.70 % | 1.50 % | ||
Other financial ratios | |||||
Tangible common equity | 9.09 % | 9.24 % | 9.09 % | ||
Book value per share | $ 20.57 | $ 20.14 | $ 19.05 | ||
Common shares outstanding | 2,397,496 | 2,397,496 | 2,429,698 | ||
(1) Ratios for three-month periods are annualized | |||||
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SOURCE Northeast Indiana Bancorp, Inc.
FAQ
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