HUNTINGTON, Ind., Dec. 23, 2010 /PRNewswire-FirstCall/ -- The board of directors of Northeast Indiana Bancorp, Inc. (OTC Bulletin Board: NIDB), the parent company of First Federal Savings Bank, announced that Michael S. Zahn will be promoted to Chief Executive Officer effective January 1, 2011. Michael has served as President of First Federal and Executive Vice President of Northeast Indiana Bancorp, Inc. since 2005, served as Senior Vice President of both companies from 2000 until 2005 and has served on the board of directors of both entities since 2000. Prior to 2000, Michael served First Federal in various capacities since first joining the bank in 1996. Michael holds a Bachelor of Arts degree from Indiana University and earned an MBA from the University of Notre Dame.
Stephen E. Zahn will retire as CEO on December 31, 2010 but will remain Chairman of the Board of both Northeast Indiana Bancorp, Inc. and First Federal Savings Bank. Commenting on the promotion, Chairman Zahn stated "I feel Michael will guide the bank to continued profitability and growth in the coming years. Michael has already been instrumental in expanding the bank's market footprint during his tenure as President. He's willing to seek out new products and services that meet demand in our markets."
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 four full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne. The Company is traded on the Over the Counter Bulletin Board under the symbol "NIDB". Our web site address is www.firstfedindiana.com.
SOURCE Northeast Indiana Bancorp, Inc.