Quarterly profit rose from a year earlier as net interest income improved, deposits edged higher and shareholder equity increased, even as loans and total assets declined from year-end.
Northeast Indiana Bancorp, Inc., parent of First Federal Savings Bank, reported net income of $1.87 million, or $0.80 per diluted common share, for the quarter ended June 30, 2026, up from $1.64 million, or $0.69 per diluted common share, a year earlier. Annualized return on average assets increased to 1.34% from 1.19%, while annualized return on average equity edged up to 13.36% from 13.27%. Net interest income increased by $507,000 in the second quarter from the same period of 2025. Provision for credit loss expense fell to $155,000 from $200,000, non-interest income rose to $744,000 from $708,000, and non-interest expense increased to $3.3 million from $3.0 million. For the first six months of 2026, net income rose to $3.5 million, or $1.48 per diluted common share, from $2.7 million, or $1.13 per diluted common share, in the year-earlier period. Annualized return on average assets improved to 1.24% from 1.00%, and annualized return on average equity rose to 12.44% from 11.02%. At June 30, 2026, total assets were $553.9 million, down from $559.3 million at December 31, 2025, while net loans fell to $412.6 million from $425.3 million. Deposits increased to $457.8 million from $455.8 million, and shareholders' equity rose to $56.7 million from $54.9 million at March 31, 2026 and $50.4 million at December 31, 2025. Book value per share increased to $24.11 from $23.63 at March 31, 2026. Non-performing assets were $10.4 million at quarter-end, compared with $10.7 million at March 31, 2026 and $8.8 million at December 31, 2025.