NORTHEAST INDIANA BANCORP, INC. ANNOUNCES TWENTY NINTH ANNUAL SHAREHOLDER MEETING DATE AND QUARTERLY CASH DIVIDEND

HUNTINGTON, Ind., Jan. 25, 2024 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB:  NIDB), the parent company of First Federal Savings Bank, has announced that the Corporation will hold its twenty ninth annual shareholders' meeting on April 23, 2024, at 1:00 PM local time.  The meeting will be held in the boardroom of First Federal Savings Bank at 100 Frontage Road, Huntington, Indiana.  The holders of record date for the annual meeting will be March 4, 2024.

The Company also announced a quarterly cash dividend of $0.17 per common share.  This cash dividend will be payable on February 22, 2024, to common shareholders of record on February 8, 2024.

The book value of NIDB's stock was $19.15 per common share as of December 31, 2023.  The last reported trade of the Company's stock at the close of business on January 24, 2024 was $18.00 per common share and the number of outstanding common shares was 2,429,698 as of the same date.  The annualized dividend yield is currently 3.78% when annualizing the current quarter cash dividend of $0.17 per common share against the January 24, 2024 closing price of $18.00 per common share. 

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana.  The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and six full-service Indiana offices in Huntington (2), Warsaw (2) and Fort Wayne (2).  The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol "NIDB".  Our web site address is www.firstfedindiana.bank.

SOURCE Northeast Indiana Bancorp, Inc.