NORTHEAST INDIANA BANCORP, INC. ANNOUNCES FOURTH QUARTER AND ANNUAL EARNINGS | NIDB Stock News

, /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, today announced net income of $1,774,000 ($0.75 per diluted common share) for the fourth quarter ended December 31, 2025 compared to net income of $972,000 ($0.41 per diluted common share) for the fourth quarter ended December 31, 2024. The current quarter earnings equate to an annualized return on average assets (ROA) of 1.27% and an annualized return on average equity (ROE) of 13.14% compared to an annualized ROA of 0.74% and an annualized ROE of 8.01% for the fourth quarter ending December 31, 2024.Net interest income increased $838,000 in the fourth quarter of 2025 compared to the same period in 2024. Provision for credit loss expense decreased by $574,000 for the three months ended December 31, 2025 as compared to the same period in 2024. Total non-interest income was $611,000 in the fourth quarter of 2025 compared to $660,000 the same period in 2024. Total non-interest expense was $3,333,000 for the three months ended December 31, 2025 as compared to $3,126,000 for the three months ended December 31, 2024.Net income for the year ended December 31, 2025, was $6.3 million, or $2.64 per diluted common share, compared to net income of $4.3 million, or $1.80 per diluted common share for the year ended December 31, 2024. The current year earnings equate to an annualized ROA of 1.14% and an annualized ROE of 12.32% compared to an annualized ROA of 0.84% and an annualized ROE of 9.13% for the year ended December 31, 2024. Total assets increased $37 million, or 7%, to $559.3 million at December 31, 2025 compared to total assets of $522.3 million at December 31, 2024. Total net loans increased $34.7 million, or 8.9%, to $425.3 million at December 31, 2025 compared to total loans of $390.6 million at December 31, 2024. Total deposits increased $26.9 million, or 6.3% on an annualized basis, to $455.8 million at December 31, 2025 compared to $428.9 million at December 31, 2024. Shareholders' equity increased $6.6 million to $54.9 million at December 31, 2025 compared to $48.3 million at December 31, 2024. The book value of NIDB stock increased $3.05 to $23.19 per common share as of December 31, 2025, compared to $20.14 the previous year-end. The number of outstanding common shares was 2,367,741 as of December 31, 2025. Additionally, Northeast Indiana Bancorp, Inc. maintained its position on the Dividend Champions List. To achieve Champion status, a company must increase its dividend payments to its shareholders for 25 consecutive years. Northeast Indiana Bancorp, Inc. is one of 146 companies in the United States to achieve this status. With the latest dividend increase in the fourth quarter of 2025, Northeast Indiana Bancorp has increased dividends 31 years in a row.Michael S. Zahn, President and CEO, commented, "I am very pleased with our financial performance in 2025. Our team does an amazing job serving our customers and our communities. I am optimistic that we will continue to meet the expectations of our customers and shareholders while helping to make the communities which we serve the best versions of themselves." 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 services.NORTHEAST INDIANA BANCORP, INC.CONDENSED CONSOLIDATED FINANCIAL STATEMENTSDecember 31,December 31,Balance Sheet (Unaudited)20252024(Audited)AssetsNon-interest earning cash and cash equivalents$ 3,894,280$ 3,754,395Interest-earning cash and cash equivalents3,185,6246,452,143Total cash and cash equivalents7,079,90410,206,538Interest-earning time deposits1,470,0004,275,000Securities available for sale82,257,90874,789,791Securities held to maturity11,545,96411,602,482Loans held for sale81,20071,200Loans, gross431,869,990397,334,479Allowance for credit losses(6,593,425)(6,771,171)Loans, net425,276,565390,563,308Accrued interest receivable2,574,4302,237,407Premises and equipment8,669,7207,907,303FHLB Stock2,835,0002,835,000Cash surrender value of life insurance12,502,81312,159,543Other assets5,040,4845,676,203Total Assets$ 559,333,988$ 522,323,775Liabilities and Stockholders' EquityNon-interest bearing deposits$ 51,188,798$ 48,168,488Interest bearing deposits404,656,646380,771,626Borrowed funds44,400,00041,000,000Accrued interest payable and other liabilities4,173,4304,106,965Total Liabilities504,418,874474,047,079Stockholders' equity54,915,11448,276,696Total Liabilities and Stockholders' Equity$ 559,333,988$ 522,323,775 Three months ended Twelve months endedDecember 31,September 30,December 31,December 31,December 31,Income Statement (Unaudited)20252025202420252024Net interest incomeTotal interest income$ 7,936,531$ 8,055,361$ 7,243,589$ 30,947,699$ 28,234,218Total interest expense3,129,8383,311,8543,275,09212,797,24513,067,903Net interest income4,806,6934,743,5073,968,49718,150,45415,166,315Provision for credit loss expenseLoans--423,538809,0171,518,538Off-balance sheet credit exposures(45,000)(35,000)105,000(69,000)35,000Total provision for credit loss expense(45,000)(35,000)528,538740,0171,553,538Net interest income after provision for credit losses4,851,6934,778,5073,439,95917,410,43713,612,777Non-interest incomeService charges on deposit accounts171,625177,533176,311670,377704,644Interchange fees192,598200,695195,040783,032811,235Loan servicing fees80,39283,94769,887364,737340,874Net gain on sale of loans116,150139,75457,991409,019341,272Increase in cash surrender value of life insurance87,32487,08084,117343,270333,516Net loss on sales of available-for-sale securities(128,680)(119,062)-(247,720)-Other income91,72689,59576,746367,4681,038,031Total non-interest income611,135659,542660,0922,690,1833,569,572Non-interest expenseSalaries and employee benefits1,712,3221,747,0451,529,3336,816,0556,459,098Occupancy426,660439,253365,6471,711,3321,474,751Data processing474,230385,504433,3251,485,8771,704,538Deposit insurance premiums79,08275,00057,000314,082294,000Professional fees238,807225,147167,477761,932622,157Advertising and marketing fees102,29994,74161,688369,108335,887Correspondent bank charges27,60529,43653,454108,197173,480Other expense271,799285,664458,3291,111,9081,406,067Total non-interest expense3,332,8043,281,7903,126,25312,678,49112,469,978Income before income taxes2,130,0242,156,259973,7987,422,1294,712,371Income tax expense355,997363,6991,3411,155,875406,812Net income$ 1,774,027$ 1,792,560$ 972,457$ 6,266,254$ 4,305,559 Three months ended Twelve months endedDecember 31,September 30,December 31,December 31,December 31,Selected Financial Ratios and Other Financial Data (Unaudited)20252025202420252024Average shares outstanding - basic2,358,2732,369,9202,378,3572,372,1472,393,143Average shares outstanding - diluted2,358,4052,369,9202,378,3572,372,1802,393,143Basic earnings per share$ 0.75$ 0.76$ 0.41$ 2.64$ 1.80Diluted earnings per share$ 0.75$ 0.76$ 0.41$ 2.64$ 1.80Net interest margin3.56 %3.53 %3.13 %3.42 %3.06 %Return on average assets1.27 %1.29 %0.74 %1.14 %0.84 %Return on average equity13.14 %13.95 %8.01 %12.32 %9.13 %Efficiency ratio61.52 %60.74 %67.54 %60.84 %66.56 %Allowance for credit losses:Balance, beginning of period$ 6,608,476$ 6,595,962$ 6,326,783$ 6,771,171$ 5,335,305Charge-offs:One-to-four family----39,022Commercial real estate-----Land/land development-----Commercial --20,441959,74920,441Consumer27,84521,48521,194168,165168,743Gross charge-offs27,84521,48541,6351,127,914228,206Recoveries:One-to-four family--39,0223,24740,544Commercial real estate-----Land/land development-----Commercial -1,705-1,705-Consumer12,79432,29423,463136,199104,990Gross recoveries12,79433,99962,485141,151145,534Net charge-offs (recoveries)15,051(12,514)(20,850)986,76382,672Provision for credit losses--423,538809,0171,518,538Balance, end of period$ 6,593,425$ 6,608,476$ 6,771,171$ 6,593,425$ 6,771,171Net loan charge-offs (recoveries) to average loans0.01 %-0.01 %-0.02 %0.23 %0.02 % As of December 31,September 30,December 31,Non-performing assets202520252024Loans:Non-accrual$ 5,447,240$ 5,082,212$ 5,031,555Past 90 days or more and still accruing---Troubled debt modification2,529,4892,529,489926,960Total non-performing loans7,976,7297,611,7015,958,515Real estate owned---Other repossessed assets---Total non-performing assets$ 7,976,729$ 7,611,701$ 5,958,515Non-performing assets to total assets1.43 %1.36 %1.14 %Non-performing loans to gross loans1.85 %1.76 %1.50 %Allowance for credit losses to non-performing loans82.66 %86.82 %113.64 %Allowance for credit losses to gross loans1.53 %1.53 %1.70 %Other financial ratiosTangible common equity9.82 %9.51 %9.24 %Book value per share$ 23.19$ 22.37$ 20.14Common shares outstanding2,367,7412,376,0662,397,496(1) Ratios for three-month periods are annualizedSOURCE Northeast Indiana Bancorp, Inc.