NORTHEAST INDIANA BANCORP, INC. ANNOUNCES FOURTH QUARTER AND ANNUAL EARNINGS

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Jan 27, 2026, 19:35 ET

HUNTINGTON, Ind., Jan. 27, 2026 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, today announced net income of $1,774,000 ($0.75 per diluted common share) for the fourth quarter ended December 31, 2025 compared to net income of $972,000 ($0.41 per diluted common share) for the fourth quarter ended December 31, 2024. The current quarter earnings equate to an annualized return on average assets (ROA) of 1.27% and an annualized return on average equity (ROE) of 13.14% compared to an annualized ROA of 0.74% and an annualized ROE of 8.01% for the fourth quarter ending December 31, 2024.

Net interest income increased $838,000 in the fourth quarter of 2025 compared to the same period in 2024. Provision for credit loss expense decreased by $574,000 for the three months ended December 31, 2025 as compared to the same period in 2024. Total non-interest income was $611,000 in the fourth quarter of 2025 compared to $660,000 the same period in 2024. Total non-interest expense was $3,333,000 for the three months ended December 31, 2025 as compared to $3,126,000 for the three months ended December 31, 2024.

Net income for the year ended December 31, 2025, was $6.3 million, or $2.64 per diluted common share, compared to net income of $4.3 million, or $1.80 per diluted common share for the year ended December 31, 2024. The current year earnings equate to an annualized ROA of 1.14% and an annualized ROE of 12.32% compared to an annualized ROA of 0.84% and an annualized ROE of 9.13% for the year ended December 31, 2024.

Total assets increased $37 million, or 7%, to $559.3 million at December 31, 2025 compared to total assets of $522.3 million at December 31, 2024. Total net loans increased $34.7 million, or 8.9%, to $425.3 million at December 31, 2025 compared to total loans of $390.6 million at December 31, 2024. Total deposits increased $26.9 million, or 6.3% on an annualized basis, to $455.8 million at December 31, 2025 compared to $428.9 million at December 31, 2024.

Shareholders' equity increased $6.6 million to $54.9 million at December 31, 2025 compared to $48.3 million at December 31, 2024. The book value of NIDB stock increased $3.05 to $23.19 per common share as of December 31, 2025, compared to $20.14 the previous year-end. The number of outstanding common shares was 2,367,741 as of December 31, 2025.

Additionally, Northeast Indiana Bancorp, Inc. maintained its position on the Dividend Champions List. To achieve Champion status, a company must increase its dividend payments to its shareholders for 25 consecutive years. Northeast Indiana Bancorp, Inc. is one of 146 companies in the United States to achieve this status. With the latest dividend increase in the fourth quarter of 2025, Northeast Indiana Bancorp has increased dividends 31 years in a row.

Michael S. Zahn, President and CEO, commented, "I am very pleased with our financial performance in 2025. Our team does an amazing job serving our customers and our communities. I am optimistic that we will continue to meet the expectations of our customers and shareholders while helping to make the communities which we serve the best versions of themselves."

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 nine full-service Indiana offices in Huntington (3), Warsaw (2), Fort Wayne (3) and Roanoke (1). The Company trades 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.

This press release may contain forward-looking statements, which are based on management's current expectations regarding economic, legislative and regulatory issues. Factors which may cause future results to vary materially include, but are not limited to, general economic conditions, changes in interest rates, loan demand, and competition. Additional factors include changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, regulatory and technological factors affecting each company's operations, pricing, products and services.

NORTHEAST INDIANA BANCORP, INC.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	December 31,	December 31,
Balance Sheet (Unaudited)	2025	2024
		(Audited)
*Assets*
Non-interest earning cash and cash equivalents	$ 3,894,280	$ 3,754,395
Interest-earning cash and cash equivalents	3,185,624	6,452,143
Total cash and cash equivalents	7,079,904	10,206,538
Interest-earning time deposits	1,470,000	4,275,000
Securities available for sale	82,257,908	74,789,791
Securities held to maturity	11,545,964	11,602,482
Loans held for sale	81,200	71,200
Loans, gross	431,869,990	397,334,479
Allowance for credit losses	(6,593,425)	(6,771,171)
Loans, net	425,276,565	390,563,308
Accrued interest receivable	2,574,430	2,237,407
Premises and equipment	8,669,720	7,907,303
FHLB Stock	2,835,000	2,835,000
Cash surrender value of life insurance	12,502,813	12,159,543
Other assets	5,040,484	5,676,203
Total Assets	$ 559,333,988	$ 522,323,775

*Liabilities and Stockholders' Equity*
Non-interest bearing deposits	$ 51,188,798	$ 48,168,488
Interest bearing deposits	404,656,646	380,771,626
Borrowed funds	44,400,000	41,000,000
Accrued interest payable and other liabilities	4,173,430	4,106,965
Total Liabilities	504,418,874	474,047,079
Stockholders' equity	54,915,114	48,276,696
Total Liabilities and Stockholders' Equity	$ 559,333,988	$ 522,323,775


	Three months ended			Twelve months ended
	December 31,	September 30,	December 31,	December 31,	December 31,
Income Statement (Unaudited)	2025	2025	2024	2025	2024

*Net interest income*
Total interest income	$ 7,936,531	$ 8,055,361	$ 7,243,589	$ 30,947,699	$ 28,234,218
Total interest expense	3,129,838	3,311,854	3,275,092	12,797,245	13,067,903
Net interest income	4,806,693	4,743,507	3,968,497	18,150,454	15,166,315
*Provision for credit loss expense*
Loans	-	-	423,538	809,017	1,518,538
Off-balance sheet credit exposures	(45,000)	(35,000)	105,000	(69,000)	35,000
Total provision for credit loss expense	(45,000)	(35,000)	528,538	740,017	1,553,538
*Net interest income after provision for credit losses*	4,851,693	4,778,507	3,439,959	17,410,437	13,612,777

*Non-interest income*
Service charges on deposit accounts	171,625	177,533	176,311	670,377	704,644
Interchange fees	192,598	200,695	195,040	783,032	811,235
Loan servicing fees	80,392	83,947	69,887	364,737	340,874
Net gain on sale of loans	116,150	139,754	57,991	409,019	341,272
Increase in cash surrender value of life insurance	87,324	87,080	84,117	343,270	333,516
Net loss on sales of available-for-sale securities	(128,680)	(119,062)	-	(247,720)	-
Other income	91,726	89,595	76,746	367,468	1,038,031
Total non-interest income	611,135	659,542	660,092	2,690,183	3,569,572

*Non-interest expense*
Salaries and employee benefits	1,712,322	1,747,045	1,529,333	6,816,055	6,459,098
Occupancy	426,660	439,253	365,647	1,711,332	1,474,751
Data processing	474,230	385,504	433,325	1,485,877	1,704,538
Deposit insurance premiums	79,082	75,000	57,000	314,082	294,000
Professional fees	238,807	225,147	167,477	761,932	622,157
Advertising and marketing fees	102,299	94,741	61,688	369,108	335,887
Correspondent bank charges	27,605	29,436	53,454	108,197	173,480
Other expense	271,799	285,664	458,329	1,111,908	1,406,067
Total non-interest expense	3,332,804	3,281,790	3,126,253	12,678,491	12,469,978

Income before income taxes	2,130,024	2,156,259	973,798	7,422,129	4,712,371
Income tax expense	355,997	363,699	1,341	1,155,875	406,812
Net income	$ 1,774,027	$ 1,792,560	$ 972,457	$ 6,266,254	$ 4,305,559

	Three months ended			Twelve months ended
	December 31,	September 30,	December 31,	December 31,	December 31,
Selected Financial Ratios and Other Financial Data (Unaudited)	2025	2025	2024	2025	2024

Average shares outstanding - basic	2,358,273	2,369,920	2,378,357	2,372,147	2,393,143
Average shares outstanding - diluted	2,358,405	2,369,920	2,378,357	2,372,180	2,393,143
Basic earnings per share	$ 0.75	$ 0.76	$ 0.41	$ 2.64	$ 1.80
Diluted earnings per share	$ 0.75	$ 0.76	$ 0.41	$ 2.64	$ 1.80
Net interest margin	3.56 %	3.53 %	3.13 %	3.42 %	3.06 %
Return on average assets	1.27 %	1.29 %	0.74 %	1.14 %	0.84 %
Return on average equity	13.14 %	13.95 %	8.01 %	12.32 %	9.13 %
Efficiency ratio	61.52 %	60.74 %	67.54 %	60.84 %	66.56 %

*Allowance for credit losses:*
Balance, beginning of period	$ 6,608,476	$ 6,595,962	$ 6,326,783	$ 6,771,171	$ 5,335,305
Charge-offs:
One-to-four family	-	-	-	-	39,022
Commercial real estate	-	-	-	-	-
Land/land development	-	-	-	-	-
Commercial	-	-	20,441	959,749	20,441
Consumer	27,845	21,485	21,194	168,165	168,743
Gross charge-offs	27,845	21,485	41,635	1,127,914	228,206
Recoveries:
One-to-four family	-	-	39,022	3,247	40,544
Commercial real estate	-	-	-	-	-
Land/land development	-	-	-	-	-
Commercial	-	1,705	-	1,705	-
Consumer	12,794	32,294	23,463	136,199	104,990
Gross recoveries	12,794	33,999	62,485	141,151	145,534
Net charge-offs (recoveries)	15,051	(12,514)	(20,850)	986,763	82,672
Provision for credit losses	-	-	423,538	809,017	1,518,538
Balance, end of period	$ 6,593,425	$ 6,608,476	$ 6,771,171	$ 6,593,425	$ 6,771,171

Net loan charge-offs (recoveries) to average loans	0.01 %	-0.01 %	-0.02 %	0.23 %	0.02 %

	As of
	December 31,	September 30,	December 31,
*Non-performing assets*	2025	2025	2024
Loans:
Non-accrual	$ 5,447,240	$ 5,082,212	$ 5,031,555
Past 90 days or more and still accruing	-	-	-
Troubled debt modification	2,529,489	2,529,489	926,960
Total non-performing loans	7,976,729	7,611,701	5,958,515
Real estate owned	-	-	-
Other repossessed assets	-	-	-
Total non-performing assets	$ 7,976,729	$ 7,611,701	$ 5,958,515

Non-performing assets to total assets	1.43 %	1.36 %	1.14 %
Non-performing loans to gross loans	1.85 %	1.76 %	1.50 %
Allowance for credit losses to non-performing loans	82.66 %	86.82 %	113.64 %
Allowance for credit losses to gross loans	1.53 %	1.53 %	1.70 %

*Other financial ratios*
Tangible common equity	9.82 %	9.51 %	9.24 %
Book value per share	$ 23.19	$ 22.37	$ 20.14
Common shares outstanding	2,367,741	2,376,066	2,397,496

(1) Ratios for three-month periods are annualized