Northeast Indiana Bancorp, Inc. (NIDB: OTCQB) | NORTHEAST INDIANA BANCORP, INC. ANNOUNCES FOURTH QUARTER AND ANNUAL EARNINGS

Northeast Indiana Bancorp, Inc. (NIDB: OTCQB) | NORTHEAST INDIANA BANCORP, INC. ANNOUNCES FOURTH QUARTER AND ANNUAL EARNINGS

Northeast Indiana Bancorp, Inc. (OTCQB: NIDB) has reported its financial results for Q4 and full-year 2024:

1. Q4 2024 highlights:
   • Net income of $972,000 ($0.41 per diluted share), up from $741,000 ($0.31 per diluted share) in Q4 2023
   • Annualized ROA of 0.74% and ROE of 8.01%, compared to 0.60% and 6.75% respectively in Q4 2023
2. Full-year 2024 results:
   • Net income of $4.3 million ($1.80 per diluted share), compared to $4.3 million ($1.77 per diluted share) in 2023
   • Annualized ROA of 0.84% and ROE of 9.13%, compared to 0.90% and 9.72% respectively in 2023
3. Financial highlights:
   • Net interest income increased by 4.1% year-over-year
   • Provision for credit losses increased by 48% compared to 2023
   • Non-interest income increased by 11.3% year-over-year
   • Non-interest expense grew by 4.5% in 2024
4. Balance sheet changes:
   • Total assets increased 4.7% to $522.3 million
   • Total loans increased 5.4% to $390.6 million
   • Total deposits increased 6.9% to $428.9 million
   • Shareholders’ equity increased to $48.3 million
   • Book value per share increased to $20.14
5. Recognitions:
   • First Federal Savings Bank named to American Banker Magazine’s Top 100 Community Banks for the 13th consecutive year
   • Northeast Indiana Bancorp maintained its position on the Dividend Champions List, having increased dividends for 30 consecutive years
     
     This report demonstrates Northeast Indiana Bancorp’s solid financial performance and continued growth in 2024.
     

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