#United States #Huntington #Northeast Indiana #First Federal Savings #Michael Zahn

Northeast Indiana Bancorp's Recent Announcements

On April 23, 2025, Northeast Indiana Bancorp, Inc. (OTCQB: NIDB), the parent entity of First Federal Savings Bank, made a noteworthy announcement regarding corporate governance and shareholder returns. This communication included the declaration of a cash dividend and details about the thirty-first annual shareholder meeting.

Cash Dividend Announcement

Northeast Indiana Bancorp revealed that it will distribute a cash dividend of $0.18 per common share. This payment is scheduled for May 22, 2025, and will be available to shareholders recorded as of May 8, 2025. The significance of this dividend lies not only in demonstrating the corporation's commitment to returning value to its shareholders but also in its notable annualized dividend yield of approximately 4.07%, calculated using the closing stock price of $17.70 on April 22, 2025. As of the end of March 2025, the book value of NIDB's shares stood at $20.57.

Shareholders' Meeting Highlights

The thirty-first annual shareholder meeting took place on April 22, 2025. During this important gathering, shareholders approved the election of Stephen E. Zahn as a director, with his term expiring in 2028. Moreover, a significant leadership change occurred as Michael S. Zahn was appointed as the Chairman of the Board of Directors for First Federal Savings Bank. This prestigious position had previously been held by Stephen E. Zahn, who will continue in his role as the Chairman of the Board of Directors for Northeast Indiana Bancorp, Inc.

Company Overview

Northeast Indiana Bancorp is headquartered at 648 N. Jefferson Street, Huntington, Indiana. It operates through its main office in Huntington and seven full-service locations across Indiana, including two each in Huntington and Warsaw and three in Fort Wayne. The company provides a comprehensive range of banking and financial brokerage services to its clients, solidifying its integral role in the local financial landscape.

As a public company, Northeast Indiana Bancorp is traded on the OTC Markets Group, utilizing the OTCQB platform under the ticker symbol NIDB. The company’s website, which offers additional insights and services to current and prospective customers, can be found at www.firstfedindiana.bank.

In conclusion, Northeast Indiana Bancorp's recent announcements reflect not only its commitment to enhancing shareholder value through dividends but also the firm's leadership continuity and governance. With strategic decisions made at the shareholders' meeting, the company appears positioned to sustain its growth and community impact in the financial sector.