NORTHEAST INDIANA BANCORP, INC. ANNOUNCES A 2-FOR-1 STOCK SPLIT

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Northeast Indiana Bancorp, Inc. announces a 2-for-1 stock split

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• Northeast Indiana Bancorp, Inc. will execute a forward share split of two new common shares for each old common share. The share split will be implemented on July 14, 2023. All shareholders of record as of June 30, 2023, will be entitled to the split. The Company will increase its outstanding common shares from 1,216,335 to 2,432,670 after the split.

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HUNTINGTON, Ind., June 8, 2023 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, has announced that the Corporation will execute a forward share split of two (2) new common shares for each one (1) old common share. All shareholders of record as of the record date of June 30, 2023 will be entitled to the share split to be implemented on July 14, 2023.

The Company had 1,216,335 outstanding common shares as of March 31, 2023 and will increase to 2,432,670 outstanding common shares after the split.

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and six full-service Indiana offices in Huntington (2), Warsaw(2) and Fort Wayne(2). The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol "NIDB". Our web site address is www.firstfedindiana.bank.

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SOURCE Northeast Indiana Bancorp, Inc.

What is the stock split ratio announced by Northeast Indiana Bancorp, Inc.?

Northeast Indiana Bancorp, Inc. has announced a 2-for-1 stock split.

When will the share split be implemented?

The share split will be implemented on July 14, 2023.

Who is entitled to the share split?

All shareholders of record as of June 30, 2023, will be entitled to the share split.

How many outstanding common shares will the Company have after the split?

The Company will increase its outstanding common shares from 1,216,335 to 2,432,670 after the split.