NORTHEAST INDIANA BANCORP, INC. ANNOUNCES TWENTY EIGHTH ANNUAL SHAREHOLDER MEETING DATE AND QUARTERLY CASH DIVIDEND

HUNTINGTON, Ind., Feb. 2, 2023 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, has announced that the Corporation will hold its twenty eighth annual shareholders' meeting on April 25, 2023, at 1:00 PM local time. The meeting will be held in the boardroom of First Federal Savings Bank at 100 Frontage Road, Huntington Indiana. The holders of record date for the annual meeting will be March 6, 2023.

The Company also announced a quarterly cash dividend of $0.32 per common share. This cash dividend will be payable on March 2, 2023 to common shareholders of record on February 16, 2023.

The book value of NIDB's stock was $35.80 per common share as of December 31, 2022. The last reported trade of the Company's stock at the close of business on February 1, 2023 was $43.50 per common share and the number of outstanding common shares was 1,216,335 as of the same date. The annualized dividend yield is currently 2.9% when annualizing the current quarter cash dividend of $0.32 per common share against the February 1, 2023 closing price of $43.50 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 six full-service Indiana offices in Huntington (2), Warsaw(2) 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.

SOURCE Northeast Indiana Bancorp, Inc.