HUNTINGTON, Ind., May 27, 2022 /PRNewswire/ — Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, were both recognized for their performance.
First Federal Savings Bank (FFSB) has been named one of American Banker magazine’s Top 200 Community Banks for the 11th consecutive year in 2021. The magazine qualifies banks for this list if they have fewer than $2 billion of total assets and are listed on the stock exchange. The FFSB came in at number 62 on this year’s list of the top 200 listed community banks. This is a 16-point improvement from 78th place in 2020. The magazine ranked institutions based on the measure of profitability, return on average equity, over a 3-year period. Only 12 state banks Indiana made this elite list and First Federal Savings Bank ranked 4th in the state.
Michael ZahnPresident and CEO of First Federal Savings Bank, said, “It is an honor to be recognized by American Banker Magazine for the 11th consecutive year. Fulfilling our role as a community bank while providing exceptional customer service from our dedicated team has led to our financial success.”
Additionally, Northeast Indiana Bancorp, Inc., the holding company of First Federal Savings Bank, maintained its position on the list of dividend champions. To achieve Champion status, a company must increase its dividend payments to its shareholders for 25 consecutive years. Northeast Indiana Bancorp is one of 141 companies in United States to achieve this status and one of Indiana’s four companies. Currently, Northeast Indiana Bancorp has increased its dividends for 27 years in a row.
Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full range of banking and financial brokerage services to its customers through its head office in Huntington and six full services Indiana offices at Huntington (2), Warsaw (2) and Fort Wayne (2). The Company is listed on OTC Markets Group, Inc. (www.otcmarkets.com) using the OTCQB platform under the symbol “NIDB”. Our website address is www.firstfedindiana.bank.
SOURCE Northeast Indiana Bancorp, Inc.