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NORTHEAST INDIANA BANCORP, INC. ANNOUNCES THIRD QUARTER 2025 EARNINGS
Prnewswireยท2025-10-28 20:54

Financial Performance - Northeast Indiana Bancorp, Inc. reported net income of $1,793,000 ($0.76 per diluted common share) for Q3 2025, a significant increase from $1,017,000 ($0.43 per diluted common share) in Q3 2024, reflecting an annualized return on average assets (ROA) of 1.29% and return on average equity (ROE) of 13.95% compared to 0.79% and 8.46% respectively in the prior year [1][3][7] - For the nine months ended September 30, 2025, net income was $4,492,000 ($1.89 per diluted common share), up from $3,333,000 ($1.39 per diluted common share) for the same period in 2024, with an annualized ROA of 1.10% and ROE of 12.02% compared to 0.87% and 9.49% in 2024 [3][7] Income and Expenses - Net interest income increased by $934,000 in Q3 2025 compared to Q3 2024, while total non-interest income was $660,000 in Q3 2025, down from $1,000,000 in the same period of 2024 [2][6] - Total non-interest expense for Q3 2025 was $3,282,000, compared to $3,128,000 in Q3 2024, indicating a rise in operational costs [2][6] Asset and Loan Growth - Total assets increased by $36.7 million, or 9.4% on an annualized basis, reaching $559.1 million as of September 30, 2025, compared to $522.3 million at the end of 2024 [3][5] - Total net loans rose by $35.1 million, or 12% on an annualized basis, to $425.7 million as of September 30, 2025, compared to $390.6 million at December 31, 2024 [3][5] Deposits and Equity - Total deposits increased by $25.8 million, or 8.1% on an annualized basis, to $454.9 million as of September 30, 2025, compared to $428.9 million at December 31, 2024 [3][5] - Shareholders' equity rose by $4.9 million to $53.2 million as of September 30, 2025, compared to $48.3 million at December 31, 2024 [3][5] Stock Performance - The book value of NIDB stock increased by $1.34 to $22.37 per common share as of September 30, 2025, compared to $21.03 at June 30, 2025 [3][5][8] - The number of outstanding common shares was 2,376,066 as of September 30, 2025 [3][5]