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Northeast Indiana Bancorp posts USD 739,000 of 3Q14 net income.

BANKING AND CREDIT NEWS-October 17, 2014--Northeast Indiana Bancorp posts USD 739,000 of 3Q14 net income

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17 October 2014 -- Indiana US-based bank holding company Northeast Indiana Bancorp Inc (OTCQB: NIDB) has posted 3Q14 net income of USD 739,000 or USD 0.61 per diluted common share.

This compares with net income of USD 609,000 (USD 0.49 per diluted common share) for the third quarter ended September 30, 2013.

The current three months earnings equates to an annualised return on average assets of 1.09% and a return on average equity of 10.02% compared to an annualised ROA of 0.91% and an ROE of 8.89% for the three months ended September 30, 2013.

Net income for the nine months ended September 30, 2014 increased USD 428,000 or 23.5% to USD 2.25m (USD 1.86 per diluted common share) compared to net income of USD 1.82m (USD 1.48 per diluted common share) for the nine months ended September 30, 2013.

The current nine months earnings equates to an annualized ROA of 1.11% and an ROE of 10.40% compared to an annualized ROA of 0.91% and an annualised ROE of 8.70% for the nine months ended September 30, 2013.

Shareholder's equity was USD 29.6m at September 30, 2014 compared to USD 27.8m at December 31, 2013. The book value of NIDB's stock was USD 24.66 per common share as of September 30, 2014.

The number of outstanding common shares was 1,199,879 as of the same date. The last reported trade of the stock on October 15, 2014 was USD 24.40 per common share. This is an increase of USD 3.40 or 16.2% over the last reported trade of the stock on December 31, 2013 of USD 21.00 per common share.

Northeast Indiana Bancorp offers a range of banking and financial brokerage services to its customers through its main office in Huntington and five full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne (2).

Find out more at www.firstfedindiana.com.

1 USD = .62 GBP

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Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Geographic Code:1U3IN
Date:Oct 17, 2014
Words:375
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