NE Indiana Bancorp, First Federal recognized

Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, have both been recognized for their performance.

First Federal Savings Bank (FFSB) has been named to American Banker Magazine’s Top 200 Community Banks for the 11th consecutive year for 2021. The magazine qualifies banks for this listing if they have less than $2 billion in total assets and are publicly traded. FFSB came in at #62 on this year’s list of the top 200 publicly traded community banks. This is a 16-spot improvement from #78 in 2020. The magazine ranked the institutions based on the profitability metric, Return on Average Equity, over a 3-year period. Only 12 banks from the state of Indiana made this elite list and First Federal Savings Bank ranked 4th in the State.

Michael Zahn, president and CEO of First Federal Savings Bank, states, “It is an honor to be recognized by American Banker Magazine for the 11th year in row. Embracing our role as a community bank while providing exceptional customer service from our dedicated team has led to our financial success.”

In addition, Northeast Indiana Bancorp, Inc., the holding company for First Federal Savings Bank, maintained its position on the Dividend Champions List. 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 the United States to achieve this status and one of four companies from Indiana. Currently Northeast Indiana Bancorp has increased dividends 27 years in a row.