NEIB announces third quarter earnings

Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, today announced net income of $1,793,000 ($0.76 per diluted common share) for the quarter ended September 30, 2025 compared to earnings from the quarter ended September 30, 2024 of $1,017,000 ($0.43 per diluted common share). The current three months earnings equate to an annualized return on average assets (ROA) of 1.29% and a return on average equity (ROE) of 13.95% compared to an ROA of 0.79% and an ROE of 8.46% for the quarter ended September 30, 2024.

Net interest income increased $934,000 in the third quarter of 2025 compared to the same period in 2024. Total non-interest income was $660,000 in the third quarter of 2025 compared to $1,000,000 the same period in 2024. Total non-interest expense was $3,282,000 for the three months ended September 30, 2025 as compared to $3,128,000 for the three months ended September 30, 2024.

Net income for the nine months ended September 30, 2025, was $4,492,000, or $1.89 per diluted common share, compared to net income of $3,333,000, or $1.39 per diluted common share for the nine months ended September 30, 2024. The current nine months earnings equate to an annualized ROA of 1.10% and an annualized ROE of 12.02% compared to an annualized ROA of 0.87% and an annualized ROE of 9.49% for the nine months ended September 30, 2024. Provision for credit loss expense was $785,000 for the nine months ended September 30, 2025 compared to $1,025,000 for the nine months ended September 30, 2025.

Total assets increased $36.7 million, or 9.4% on an annualized basis, to $559.1 million at September 30, 2025 compared to total assets of $522.3 million at December 31, 2024. Total net loans increased $35.1 million, or 12% on an annualized basis, to $425.7 million at September 30, 2025 compared to total net loans of $390.6 million at December 31, 2024. Total deposits increased $25.8 million, or 8.1% on an annualized basis, to $454.9 million at September 30, 2025 compared to $428.9 million at December 31, 2024.

Shareholders’ equity increased $4.9 million to $53.2 million at September 30, 2025 compared to $48.3 million at December 31, 2024. The book value of NIDB stock increased $1.34 to $22.37 per common share as of September 30, 2025 compared to $21.03 at June 30, 2025. The number of outstanding common shares was 2,376,066 as of September 30, 2025.