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Northeast Indiana Bancorp, Inc. (OTCQB: NIDB) operates as the bank holding company for First Federal Savings Bank. Headquartered in Huntington, Indiana, the company provides a comprehensive range of banking and financial advisory services to personal and commercial clients. Its personal products include checking accounts, savings accounts, certificates of deposit, retirement accounts, and health savings accounts. Additionally, the company offers various loan products such as mortgage loans for home purchases, refinances, new construction, and home equity/home improvement, along with installment loans like auto loans, personal loans, and RV, ATV, and boat loans.
For businesses, Northeast Indiana Bancorp provides commercial loans including lines of credit, letters of credit, equipment financing, and construction loans. Commercial revolving lines of credit, term loans, real estate loans, and Small Business Administration (SBA) loans are also available. The company supports digital banking with online banking services and offers debit and credit cards, safe deposit boxes, and direct deposit services.
In recent financial updates, the company reported net income of $3.5 million for the nine months ending September 30, 2023, compared to $5 million for the same period in 2022, reflecting a downward trend due to decreased net interest income and increased overhead expenses. Total assets rose to $484.4 million, while net loans and deposits saw significant growth.
The company has been recognized for its performance, featuring on American Banker Magazine's Top 200 Community Banks list for the 12th consecutive year. It also maintained its status on the Dividend Champions List by increasing dividends for 29 straight years.
In summary, Northeast Indiana Bancorp, Inc. is a well-established financial institution dedicated to serving its community with a variety of banking products and services, strong financial growth, and consistent shareholder value.
Northeast Indiana Bancorp (NIDB) announced a cash dividend of $0.30 per common share, payable on August 25, 2022, to shareholders of record by August 11, 2022. As of June 30, 2022, the book value of NIDB's stock was $34.88, and as of July 26, 2022, the stock price was $43.00, resulting in an annualized dividend yield of 2.8%.
Northeast Indiana Bancorp (OTCQB: NIDB) reported a net income of $3.4 million for the six months ending June 30, 2022, down from $3.8 million in 2021, reflecting a decrease in diluted earnings per share from $3.19 to $2.81. The annualized ROA and ROE also fell to 1.61% and 14.96%, respectively. The second quarter net income was $1.6 million, compared to $1.9 million in the same period last year. Key factors include an $800,000 drop in mortgage loan sales due to rising interest rates, although net interest income rose by $506,000. Total assets decreased to $413.4 million, while deposits grew by $15.5 million.
Northeast Indiana Bancorp, trading on OTCQB as NIDB, announced a cash dividend of $0.30 per common share, payable on May 26, 2022, to shareholders of record by May 12, 2022. The company's stock price closed at $46.40 on April 25, 2022, with a book value of $37.60 as of March 31, 2022, reflecting an annualized dividend yield of 2.6%. Additionally, during the annual shareholders' meeting on April 26, Stephen E. Zahn and Christopher D. Cook were re-elected as directors for terms expiring in 2025.
Northeast Indiana Bancorp reported record earnings of $7.3 million for 2021, a 30.3% increase from 2020. Earnings per diluted share rose to $6.08, reflecting a strong return on average assets of 1.77% and average equity of 15.31%. Total assets grew to $417.7 million, while net loans and deposits increased by 3.8% and 15.2%, respectively. The company paid out $2.9 million in cash dividends, including a special cash dividend of $1.25 per share. Despite challenges from the pandemic, FFSB also facilitated over $68.7 million in PPP funding, supporting over 800 clients.
Northeast Indiana Bancorp (NIDB) has scheduled its twenty-seventh annual shareholders' meeting for April 26, 2022, at 1:00 PM in Huntington, Indiana. Shareholders of record as of March 7, 2022, will be eligible to vote. The company will also distribute a $0.30 quarterly cash dividend on February 24, 2022, payable to shareholders on record by February 10, 2022. As of December 31, 2021, NIDB's stock book value was $40.49, with the last trade closing at $43.76.
Northeast Indiana Bancorp (OTCQB: NIDB) has declared a special cash dividend of $1.25 per share, marking the seventh consecutive year of issuing such dividends. The record date is set for December 9, 2021, and payment will be made on December 23, 2021. Over this period, the company has returned more than $6.3 million to shareholders. The book value of NIDB's stock stands at $40.75 per common share as of September 30, 2021, with 1,202,985 shares outstanding.
Northeast Indiana Bancorp (NIDB) has announced a quarterly cash dividend increase of $0.30 per common share, marking the 27th consecutive year of dividend growth. The new dividend reflects a $0.02 per share increase, or 7.1%, over the previous quarter. This results in an annualized yield of 2.7% based on a closing price of $44.50 on October 27, 2021. The dividend will be payable on November 26, 2021, to shareholders of record on November 11, 2021. Additionally, Christopher D. Cook has been appointed as CFO as of October 25, 2021.
Northeast Indiana Bancorp (NIDB) reported a significant 17.7% increase in net income for Q3 2021, reaching $1.94 million ($1.62 per diluted share), a record for the company. Year-to-date net income rose 39.7% to $5.76 million ($4.80 per diluted share). Key metrics include annualized return on average assets (ROA) at 1.88% and return on average equity (ROE) at 15.81%. Total deposits increased by 10.03% to $326.75 million, while net loans receivable rose 5.39% to $278.47 million. The company's book value was $40.75 per share as of September 30, 2021.
Northeast Indiana Bancorp, Inc. (OTCQB: NIDB) will pay a cash dividend of $0.28 per share on August 23, 2021, to shareholders recorded on August 9, 2021. The company has been recognized as one of the 'Dividends Champions' for increasing its dividend for over 25 years, making it one of 18 banks on this prestigious list. As of June 30, 2021, NIDB's book value was $39.87 per share, with shares closing at $43.00 on July 22, 2021, resulting in an annualized yield of 2.6%.
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