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

HUNTINGTON, Ind., April 25, 2024 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB:  NIDB), the parent company of First Federal Savings Bank, has announced that the Corporation will pay a cash dividend of $0.17 per common share.  This cash dividend will be payable on May 23, 2024, to common shareholders of record on May 9, 2024.

Northeast Indiana Bancorp, Inc. held its twenty-ninth annual shareholders' meeting on April 23, 2024.  The shareholders elected Michael S. Zahn and Kyle D. Koob as directors of the company for terms to expire in 2027. 

The book value of NIDB's stock was $19.05 per common share as of March 31, 2024.  The last reported trade of the Company's stock at the close of business on April 24, 2024 was $16.55 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 4.11% when annualizing the current quarter cash dividend of $0.17 per common share against the April 24, 2024 closing price of $16.55 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.