NORTHEAST INDIANA BANCORP, INC. ANNOUNCES SECOND QUARTER 2026 EARNINGS

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Jul 28, 2026, 17:15 ET

HUNTINGTON, Ind., July 28, 2026 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, today announced net income of $1,873,000 ($0.80 per diluted common share) for the quarter ended June 30, 2026 compared to earnings from the quarter ended June 30, 2025 of $1,641,000 ($0.69 per diluted common share). The current three months earnings equate to an annualized return on average assets (ROA) of 1.34% and a return on average equity (ROE) of 13.36% compared to an ROA of 1.19% and an ROE of 13.27% for the quarter ended June 30, 2025.

Net interest income increased $507,000 in the second quarter of 2026 compared to the same period in 2025. Provision for credit loss expense was $155,000 for the 3 months ended June 30, 2026 compared to $200,000 for the 3 months ended June 30, 2025. Total non-interest income was $744,000 in the second quarter of 2026 compared to $708,000 the same period in 2025. Total non-interest expense was $3.3 million for the 3 months ended June 30, 2026 as compared to $3 million for the 3 months ended June 30, 2025.

Net income for the six months ended June 30, 2026, was $3.5 million, or $1.48 per diluted common share, compared to net income of $2.7 million, or $1.13 per diluted common share for the six months ended June 30, 2025. The current six months earnings equate to an annualized ROA of 1.24% and an annualized ROE of 12.44% compared to an annualized ROA of 1.00% and an annualized ROE of 11.02% for the six months ended June 30, 2025.

Total assets decreased $5.4 million, or -3.9% on an annualized basis, to $553.9 million at June 30, 2026 compared to total assets of $559.3 million at December 31, 2025. Total net loans decreased $12.7 million, or 11.9% on an annualized basis, to $412.6 million at June 30, 2026 compared to total net loans of $425.3 million at December 31, 2025. Total deposits increased $2 million, or 1.7% on an annualized basis, to $457.8 million at June 30, 2026 compared to $455.8 million at December 31, 2025.

Shareholders' equity increased $1.8 million to $56.7 million at June 30, 2026 compared to $50.4 million at December 31, 2025. The book value of NIDB stock increased $0.48 to $24.11 per common share as of June 30, 2026 compared to $23.63 at March 31, 2026. The number of outstanding common shares was 2,353,405 as of June 30, 2026.

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 service.

NORTHEAST INDIANA BANCORP, INC.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	June 30,	December 31,	June 30,
Balance Sheet (Unaudited)	2026	2025	2025
		(Audited)
*Assets*
Non-interest earning cash and cash equivalents	$ 6,311,180	$ 3,894,280	$ 8,145,996
Interest-earning cash and cash equivalents	8,142,100	3,185,624	1,635,221
Total cash and cash equivalents	14,453,280	7,079,904	9,781,217
Interest-earning time deposits	1,470,000	1,470,000	2,430,000
Securities available for sale	82,410,421	82,257,908	77,788,474
Securities held to maturity	11,252,081	11,545,964	11,565,312
Loans held for sale	385,700	81,200	1,427,550
Loans, gross	419,491,918	431,869,990	429,166,850
Allowance for credit losses	(6,899,216)	(6,593,425)	(6,595,962)
Loans, net	412,592,702	425,276,565	422,570,888
Accrued interest receivable	2,361,653	2,574,430	2,244,388
Premises and equipment	8,504,164	8,669,720	8,512,877
FHLB Stock	2,835,000	2,835,000	2,835,000
Cash surrender value of life insurance	12,677,108	12,502,813	12,328,409
Other assets	4,951,232	5,040,484	5,357,208
Total Assets	$ 553,893,341	$ 559,333,988	$ 556,841,323

*Liabilities and Stockholders' Equity*
Non-interest bearing deposits	$ 60,050,106	$ 51,188,798	$ 52,914,448
Interest bearing deposits	397,780,405	404,656,646	401,819,546
Borrowed funds	35,000,000	44,400,000	47,000,000
Accrued interest payable and other liabilities	4,323,303	4,173,430	4,710,981
Total Liabilities	497,153,814	504,418,874	506,444,975
Stockholders' equity	56,739,527	54,915,114	50,396,348
Total Liabilities and Stockholders' Equity	$ 553,893,341	$ 559,333,988	$ 556,841,323


	Three months ended			Six months ended
	June 30,	March 31,	June 30,	June 30,	June 30,
Income Statement (Unaudited)	2026	2026	2025	2026	2025

*Net interest income*
Total interest income	$ 7,834,410	$ 7,709,470	$ 7,730,639	$ 15,543,880	$ 14,955,807
Total interest expense	2,864,801	2,957,337	3,267,904	5,822,138	6,355,553
Net interest income	4,969,609	4,752,133	4,462,735	9,721,742	8,600,254
*Provision for credit loss expense*
Loans	180,000	180,000	189,000	360,000	809,017
Off-balance sheet credit exposures	(25,000)	-	11,000	(25,000)	11,000
Total provision for credit loss expense	155,000	180,000	200,000	335,000	820,017
*Net interest income after provision for credit losses*	4,814,609	4,572,133	4,262,735	9,386,742	7,780,237

*Non-interest income*
Service charges on deposit accounts	174,390	154,065	163,581	328,455	321,219
Interchange fees	206,740	191,099	199,831	397,839	389,740
Loan servicing fees	78,893	90,249	84,352	169,142	200,398
Net gain on sale of loans	120,670	72,002	105,083	192,672	153,115
Increase in cash surrender value of life insurance	87,591	86,704	85,181	174,295	168,865
Other income	75,812	69,419	69,926	145,231	186,170
Total non-interest income	744,096	663,538	707,954	1,407,634	1,419,507

*Non-interest expense*
Salaries and employee benefits	1,749,441	1,810,242	1,710,384	3,559,683	3,356,688
Occupancy	454,697	450,576	413,228	905,273	845,418
Data processing	400,797	421,678	247,019	822,475	626,143
Deposit insurance premiums	84,500	86,250	77,500	170,750	160,000
Professional fees	169,654	176,544	163,484	346,198	297,978
Advertising and marketing fees	94,131	86,064	86,020	180,195	172,068
Correspondent bank charges	31,094	31,528	28,541	62,622	51,156
Other expense	293,052	251,131	292,324	544,183	554,447
Total non-interest expense	3,277,366	3,314,013	3,018,500	6,591,379	6,063,898

Income before income taxes	2,281,339	1,921,658	1,952,189	4,202,997	3,135,846
Income tax expense	408,038	323,117	311,483	731,155	436,179
Net income	$ 1,873,301	$ 1,598,541	$ 1,640,706	$ 3,471,842	$ 2,699,667

	Three months ended			Six months ended
	June 30,	March 31,	June 30,	June 30,	June 30,
Selected Financial Ratios and Other Financial Data (Unaudited)	2026	2026	2025	2026	2025

Average shares outstanding - basic	2,346,207	2,355,016	2,380,896	2,350,585	2,380,342
Average shares outstanding - diluted	2,347,081	2,355,370	2,380,896	2,351,199	2,380,342
Basic earnings per share	$ 0.80	$ 0.68	$ 0.69	$ 1.48	$ 1.13
Diluted earnings per share	$ 0.80	$ 0.68	$ 0.69	$ 1.48	$ 1.13
Net interest margin (1)	3.70 %	3.51 %	3.35 %	3.61 %	3.29 %
Return on average assets (1)	1.34 %	1.14 %	1.19 %	1.24 %	1.00 %
Return on average equity (1)	13.36 %	11.51 %	13.27 %	12.44 %	11.02 %
Efficiency ratio	57.36 %	61.19 %	58.38 %	59.23 %	60.52 %

*Allowance for credit losses:*
Balance, beginning of period	$ 6,769,202	$ 6,593,425	$ 6,381,216	$ 6,593,425	$ 6,771,171
Charge-offs:
One-to-four family	10,286	-	-	10,286	-
Commercial real estate	-	-	-	-	-
Land/land development	-	-	-	-	-
Commercial	-	-	-	-	959,749
Consumer	55,287	52,729	34,696	108,016	118,834
Gross charge-offs	65,573	52,729	34,696	118,302	1,078,583
Recoveries:
One-to-four family	-	-	-	-	3,247
Commercial real estate	-	-	-	-	-
Land/land development	-	-	-	-	-
Commercial	257	-	-	257	-
Consumer	15,330	48,506	60,442	63,836	91,110
Gross recoveries	15,587	48,506	60,442	64,093	94,357
Net charge-offs (recoveries)	49,986	4,223	(25,746)	54,209	984,226
Provision for credit losses	180,000	180,000	189,000	360,000	809,017
Balance, end of period	$ 6,899,216	$ 6,769,202	$ 6,595,962	$ 6,899,216	$ 6,595,962

Net loan charge-offs (recoveries) to average loans	0.05 %	0.00 %	-0.02 %	0.03 %	0.47 %

	As of
	June 30,	March 31,	June 30,
*Non-performing assets*	2026	2026	2025
Loans:
Non-accrual	$ 7,893,034	$ 8,138,245	$ 6,230,450
Past 90 days or more and still accruing	-	-	-
Troubled debt modification	2,505,644	2,584,342	2,551,651
Total non-performing loans	10,398,678	10,722,587	8,782,101
Real estate owned	-	-	-
Other repossessed assets	-	-	-
Total non-performing assets	$ 10,398,678	$ 10,722,587	$ 8,782,101

Non-performing assets to total assets	1.88 %	1.92 %	1.58 %
Non-performing loans to gross loans	2.48 %	2.51 %	2.05 %
Allowance for credit losses to non-performing loans	66.35 %	63.13 %	75.11 %
Allowance for credit losses to gross loans	1.64 %	1.58 %	1.54 %

*Other financial ratios*
Tangible common equity	10.24 %	10.03 %	9.05 %
Book value per share	$ 24.11	$ 23.63	$ 21.03
Common shares outstanding	2,353,405	2,366,342	2,396,896

(1) Ratios for three-month periods are annualized