Northeast Indiana Bancorp, Inc. Announces Cash Dividend and Holds Twenty-Fifth Annual Shareholder Meeting

HUNTINGTON, Ind., April 29, 2020 /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 $0.27 per common share. The dividend will be payable on May 28, 2020 to shareholders of record on May 14, 2020.

Northeast Indiana Bancorp, Inc. held its twenty-fifth annual shareholders' meeting April 28, 2020.  The shareholders selected Dr. J. David Carnes and William A. Zimmer as directors of the company for terms to expire in 2023.  

The book value of NIDB's stock was $35.43 per common share as of March 31, 2020. The last reported trade of stock at the close of business on April 28, 2020 was $29.25 per common share and the number of outstanding shares was 1,210,327 as of the same date. The annualized dividend yield is currently 3.7% when annualizing the current quarter cash dividend of $0.27 per common share against the April 28, 2020 closing price of $29.25 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 five full-service Indiana offices in Huntington (2), Warsaw 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.

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SOURCE Northeast Indiana Bancorp, Inc.