NORTHEAST INDIANA BANCORP, INC. ANNOUNCES $1.25 SPECIAL CASH DIVIDEND

HUNTINGTON, Ind., Nov. 23, 2022 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB:  NIDB), the parent company of First Federal Savings Bank, is proud to announce that its Board of Directors has declared a special cash dividend of $1.25 per share on the Company's common stock.  The record date will be December 8, 2022 and the payment date will be December 22, 2022.

Commenting on the announcement, President and CEO Michael S. Zahn stated, "For the 8^th year in a row, the Bank's earnings and capital levels have allowed the Board of Directors to issue a special cash dividend.  During that period, over $7.8 million in special dividends have been returned to our shareholders."

The book value of NIDB's stock was $34.85 per common share as of September 30, 2022 with 1,205,135 shares outstanding.  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.