NORTHEAST INDIANA BANCORP, INC. ANNOUNCES SECOND QUARTER 2025 EARNINGS

Financial Performance - Northeast Indiana Bancorp, Inc. reported net income of $1,641,000 ($0.69 per diluted common share) for Q2 2025, an increase from $1,594,000 ($0.66 per diluted common share) in Q2 2024, reflecting a growth in earnings [1][2] - For the first half of 2025, net income was $2.7 million ($1.13 per diluted common share), compared to $2.3 million ($0.96 per diluted common share) in the same period of 2024, indicating a positive trend in profitability [3] Income and Expenses - Net interest income increased by $699,000 in Q2 2025 compared to Q2 2024, while total non-interest income decreased to $708,000 from $1.2 million in the same period [2][10] - Provision for credit loss expense rose to $200,000 in Q2 2025 from $75,000 in Q2 2024, indicating a more cautious approach to credit risk [2][10] - Total non-interest expense decreased slightly to $3 million in Q2 2025 from $3.1 million in Q2 2024, showing effective cost management [2][10] Asset and Loan Growth - Total assets increased by $34.5 million, or 13.3% on an annualized basis, reaching $556.8 million as of June 30, 2025, compared to $522.3 million at the end of 2024 [4] - Total gross loans rose by $32 million, or 16.5% on an annualized basis, to $422.6 million as of June 30, 2025, compared to $390.6 million at the end of 2024 [4] - Total deposits increased by $25.8 million, or 12.1% on an annualized basis, to $454.7 million as of June 30, 2025, compared to $428.9 million at the end of 2024 [4] Shareholder Equity - Shareholders' equity increased by $2.1 million to $50.4 million as of June 30, 2025, compared to $48.3 million at the end of 2024 [5] - The book value of NIDB stock rose by $0.46 to $21.03 per common share as of June 30, 2025, compared to $20.57 at the end of Q1 2025 [5][11] Financial Ratios - The annualized return on average assets (ROA) for Q2 2025 was 1.19%, slightly down from 1.24% in Q2 2024, while the return on average equity (ROE) was 13.27%, down from 13.80% in the same period [1][10] - For the first half of 2025, the annualized ROA was 1.00% and ROE was 11.02%, compared to 0.91% and 10.01% respectively for the same period in 2024 [3][10]