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Northeast Indiana Bancorp Q3 net income increased 32 percent

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Christian Fernsby ▼ | October 12, 2019
First Federal Savings Bank
Northeast Indiana Bancorp   Net income increased $330,000

Northeast Indiana Bancorp, the parent company of First Federal Savings Bank, announced net income for the nine months ended September 30, 2019 increased $379,000 or 12.0% to $3.54 million ($2.96 per diluted common share), compared to net income of $3.16 million ($2.65 per diluted common share) for the nine months ended September 30, 2018.

Topics: Northeast Indiana Bancorp

The current nine months earnings represent a new record for the Company and equates to an annualized ROA of 1.34% and an annualized ROE of 12.01%.

This compares to an annualized ROA of 1.31% and an annualized ROE of 11.68% for the nine months ended September 30, 2018.

Net income increased $330,000 or 32.0% to $1.36 million ($1.14 per diluted common share) for the Company's third quarter ended September 30, 2019 compared to net income of $1.03 million ($0.86 per diluted common share) for the third quarter ended September 30, 2018.

The current three months earnings represent a new record for the Company and equates to an annualized return on average assets (ROA) of 1.53% and a return on average equity (ROE) of 13.31%.

This compares to an annualized ROA of 1.27% and an annualized ROE of 11.22% for the three months ended September 30, 2018.


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