NORTHEAST INDIANA BANCORP, INC. ANNOUNCES SECOND QUARTER 2026 EARNINGS

Rhea-AI Summary

Northeast Indiana Bancorp (OTCQB: NIDB) reported second quarter 2026 net income of $1,873,301, or $0.80 per diluted share, up from $1,640,706, or $0.69, a year earlier. Quarterly ROA was 1.34% and ROE 13.36%, with net interest income rising to $4.97 million and net interest margin improving to 3.70%.

For the first half of 2026, net income was $3,471,842 ($1.48 per diluted share) versus $2,699,667 ($1.13) in 2025, with annualized ROA of 1.24% and ROE of 12.44%. At June 30, 2026, total assets were $553.9 million, net loans $412.6 million, deposits $457.8 million, and shareholders’ equity $56.7 million. Book value per share increased to $24.11, while non-performing assets totaled $10.4 million, representing 1.88% of total assets.

Positive

• Q2 2026 diluted EPS $0.80 vs. $0.69 in Q2 2025
• Six‑month net income $3.47M vs. $2.70M in 2025
• Net interest margin 3.70% vs. 3.35% in Q2 2025
• Credit loss provision $335K six‑month vs. $820K prior year
• Deposits $457.8M vs. $455.8M at December 31, 2025
• Book value per share $24.11 vs. $21.03 at June 30, 2025

Negative

• Net loans $412.6M, down $12.7M since December 31, 2025
• Total assets $553.9M, down $5.4M since December 31, 2025
• Non‑performing assets ratio 1.88% vs. 1.58% at June 30, 2025
• Non‑performing loans to gross loans 2.48% vs. 2.05% year earlier
• Total non‑interest expense $3.28M vs. $3.02M in Q2 2025

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

HUNTINGTON, Ind., July 28, 2026 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, today announced net income of $1,873,000 ($0.80 per diluted common share) for the quarter ended June 30, 2026 compared to earnings from the quarter ended June 30, 2025 of $1,641,000 ($0.69 per diluted common share). The current three months earnings equate to an annualized return on average assets (ROA) of 1.34% and a return on average equity (ROE) of 13.36% compared to an ROA of 1.19% and an ROE of 13.27% for the quarter ended June 30, 2025.

Net interest income increased $507,000 in the second quarter of 2026 compared to the same period in 2025. Provision for credit loss expense was $155,000 for the 3 months ended June 30, 2026 compared to $200,000 for the 3 months ended June 30, 2025. Total non-interest income was $744,000 in the second quarter of 2026 compared to $708,000 the same period in 2025. Total non-interest expense was $3.3 million for the 3 months ended June 30, 2026 as compared to $3 million for the 3 months ended June 30, 2025.

Net income for the six months ended June 30, 2026, was $3.5 million, or $1.48 per diluted common share, compared to net income of $2.7 million, or $1.13 per diluted common share for the six months ended June 30, 2025. The current six months earnings equate to an annualized ROA of 1.24% and an annualized ROE of 12.44% compared to an annualized ROA of 1.00% and an annualized ROE of 11.02% for the six months ended June 30, 2025. 

Total assets decreased $5.4 million, or -3.9% on an annualized basis, to $553.9 million at June 30, 2026 compared to total assets of $559.3 million at December 31, 2025. Total net loans decreased $12.7 million, or 11.9% on an annualized basis, to $412.6 million at June 30, 2026 compared to total net loans of $425.3 million at December 31, 2025. Total deposits increased $2 million, or 1.7% on an annualized basis, to $457.8 million at June 30, 2026 compared to $455.8 million at December 31, 2025.  

Shareholders' equity increased $1.8 million to $56.7 million at June 30, 2026 compared to $50.4 million at December 31, 2025. The book value of NIDB stock increased $0.48 to $24.11 per common share as of June 30, 2026 compared to $23.63 at March 31, 2026. The number of outstanding common shares was 2,353,405 as of June 30, 2026. 

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 nine full-service Indiana offices in Huntington (3), Warsaw (2), Fort Wayne (3) and Roanoke (1). The Company trades 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.

This press release may contain forward-looking statements, which are based on management's current expectations regarding economic, legislative and regulatory issues. Factors which may cause future results to vary materially include, but are not limited to, general economic conditions, changes in interest rates, loan demand, and competition. Additional factors include changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, regulatory and technological factors affecting each company's operations, pricing, products and service.

NORTHEAST INDIANA BANCORP, INC.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
		June 30,	December 31,	June 30,
Balance Sheet (Unaudited)		2026	2025	2025
			(Audited)
Assets
Non-interest earning cash and cash equivalents		$           6,311,180	$           3,894,280	$           8,145,996
Interest-earning cash and cash equivalents		8,142,100	3,185,624	1,635,221
Total cash and cash equivalents		14,453,280	7,079,904	9,781,217
Interest-earning time deposits		1,470,000	1,470,000	2,430,000
Securities available for sale		82,410,421	82,257,908	77,788,474
Securities held to maturity		11,252,081	11,545,964	11,565,312
Loans held for sale		385,700	81,200	1,427,550
Loans, gross		419,491,918	431,869,990	429,166,850
Allowance for credit losses		(6,899,216)	(6,593,425)	(6,595,962)
Loans, net		412,592,702	425,276,565	422,570,888
Accrued interest receivable		2,361,653	2,574,430	2,244,388
Premises and equipment		8,504,164	8,669,720	8,512,877
FHLB Stock		2,835,000	2,835,000	2,835,000
Cash surrender value of life insurance		12,677,108	12,502,813	12,328,409
Other assets		4,951,232	5,040,484	5,357,208
Total Assets		$       553,893,341	$       559,333,988	$       556,841,323
Liabilities and Stockholders' Equity
Non-interest bearing deposits		$         60,050,106	$         51,188,798	$         52,914,448
Interest bearing deposits		397,780,405	404,656,646	401,819,546
Borrowed funds		35,000,000	44,400,000	47,000,000
Accrued interest payable and other liabilities		4,323,303	4,173,430	4,710,981
Total Liabilities		497,153,814	504,418,874	506,444,975
Stockholders' equity		56,739,527	54,915,114	50,396,348
Total Liabilities and Stockholders' Equity		$       553,893,341	$       559,333,988	$       556,841,323
		Three months ended				Six months ended
		June 30,	March 31,	June 30,		June 30,	June 30,
Income Statement (Unaudited)		2026	2026	2025		2026	2025
Net interest income
Total interest income		$           7,834,410	$           7,709,470	$           7,730,639		$         15,543,880	$         14,955,807
Total interest expense		2,864,801	2,957,337	3,267,904		5,822,138	6,355,553
Net interest income		4,969,609	4,752,133	4,462,735		9,721,742	8,600,254
Provision for credit loss expense
Loans		180,000	180,000	189,000		360,000	809,017
Off-balance sheet credit exposures		(25,000)	-	11,000		(25,000)	11,000
Total provision for credit loss expense		155,000	180,000	200,000		335,000	820,017
Net interest income after provision for credit losses		4,814,609	4,572,133	4,262,735		9,386,742	7,780,237
Non-interest income
Service charges on deposit accounts		174,390	154,065	163,581		328,455	321,219
Interchange fees		206,740	191,099	199,831		397,839	389,740
Loan servicing fees		78,893	90,249	84,352		169,142	200,398
Net gain on sale of loans		120,670	72,002	105,083		192,672	153,115
Increase in cash surrender value of life insurance		87,591	86,704	85,181		174,295	168,865
Other income		75,812	69,419	69,926		145,231	186,170
Total non-interest income		744,096	663,538	707,954		1,407,634	1,419,507
Non-interest expense
Salaries and employee benefits		1,749,441	1,810,242	1,710,384		3,559,683	3,356,688
Occupancy		454,697	450,576	413,228		905,273	845,418
Data processing		400,797	421,678	247,019		822,475	626,143
Deposit insurance premiums		84,500	86,250	77,500		170,750	160,000
Professional fees		169,654	176,544	163,484		346,198	297,978
Advertising and marketing fees		94,131	86,064	86,020		180,195	172,068
Correspondent bank charges		31,094	31,528	28,541		62,622	51,156
Other expense		293,052	251,131	292,324		544,183	554,447
Total non-interest expense		3,277,366	3,314,013	3,018,500		6,591,379	6,063,898
Income before income taxes		2,281,339	1,921,658	1,952,189		4,202,997	3,135,846
Income tax expense		408,038	323,117	311,483		731,155	436,179
Net income		$           1,873,301	$           1,598,541	$           1,640,706		$           3,471,842	$           2,699,667
		Three months ended				Six months ended
		June 30,	March 31,	June 30,		June 30,	June 30,
Selected Financial Ratios and Other Financial Data (Unaudited)		2026	2026	2025		2026	2025
Average shares outstanding - basic		2,346,207	2,355,016	2,380,896		2,350,585	2,380,342
Average shares outstanding - diluted		2,347,081	2,355,370	2,380,896		2,351,199	2,380,342
Basic earnings per share		$                     0.80	$                     0.68	$                     0.69		$                     1.48	$                     1.13
Diluted earnings per share		$                     0.80	$                     0.68	$                     0.69		$                     1.48	$                     1.13
Net interest margin (1)		3.70 %	3.51 %	3.35 %		3.61 %	3.29 %
Return on average assets (1)		1.34 %	1.14 %	1.19 %		1.24 %	1.00 %
Return on average equity (1)		13.36 %	11.51 %	13.27 %		12.44 %	11.02 %
Efficiency ratio		57.36 %	61.19 %	58.38 %		59.23 %	60.52 %
Allowance for credit losses:
Balance, beginning of period		$           6,769,202	$           6,593,425	$           6,381,216		$           6,593,425	$           6,771,171
Charge-offs:
One-to-four family		10,286	-	-		10,286	-
Commercial real estate		-	-	-		-	-
Land/land development		-	-	-		-	-
Commercial		-	-	-		-	959,749
Consumer		55,287	52,729	34,696		108,016	118,834
Gross charge-offs		65,573	52,729	34,696		118,302	1,078,583
Recoveries:
One-to-four family		-	-	-		-	3,247
Commercial real estate		-	-	-		-	-
Land/land development		-	-	-		-	-
Commercial		257	-	-		257	-
Consumer		15,330	48,506	60,442		63,836	91,110
Gross recoveries		15,587	48,506	60,442		64,093	94,357
Net charge-offs (recoveries)		49,986	4,223	(25,746)		54,209	984,226
Provision for credit losses		180,000	180,000	189,000		360,000	809,017
Balance, end of period		$           6,899,216	$           6,769,202	$           6,595,962		$           6,899,216	$           6,595,962
Net loan charge-offs (recoveries) to average loans		0.05 %	0.00 %	-0.02 %		0.03 %	0.47 %
		As of
		June 30,	March 31,	June 30,
Non-performing assets		2026	2026	2025
Loans:
Non-accrual		$           7,893,034	$           8,138,245	$           6,230,450
Past 90 days or more and still accruing		-	-	-
Troubled debt modification		2,505,644	2,584,342	2,551,651
Total non-performing loans		10,398,678	10,722,587	8,782,101
Real estate owned		-	-	-
Other repossessed assets		-	-	-
Total non-performing assets		$         10,398,678	$         10,722,587	$           8,782,101
Non-performing assets to total assets		1.88 %	1.92 %	1.58 %
Non-performing loans to gross loans		2.48 %	2.51 %	2.05 %
Allowance for credit losses to non-performing loans		66.35 %	63.13 %	75.11 %
Allowance for credit losses to gross loans		1.64 %	1.58 %	1.54 %
Other financial ratios
Tangible common equity		10.24 %	10.03 %	9.05 %
Book value per share		$                   24.11	$                   23.63	$                   21.03
Common shares outstanding		2,353,405	2,366,342	2,396,896
(1) Ratios for three-month periods are annualized

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/northeast-indiana-bancorp-inc-announces-second-quarter-2026-earnings-302837032.html

SOURCE Northeast Indiana Bancorp, Inc.

FAQ

What were Northeast Indiana Bancorp (OTCQB: NIDB) earnings for Q2 2026?

Northeast Indiana Bancorp reported Q2 2026 net income of $1,873,301, or $0.80 diluted EPS. According to the company, this compares with $1,640,706, or $0.69 diluted EPS, for Q2 2025, reflecting higher net interest income and improved profitability metrics.

How did Northeast Indiana Bancorp (NIDB) first half 2026 results compare to 2025?

For the first six months of 2026, Northeast Indiana Bancorp earned $3,471,842, or $1.48 diluted EPS. According to the company, this increased from $2,699,667, or $1.13 diluted EPS, in the first half of 2025, with annualized ROA rising to 1.24% and ROE to 12.44%.

What were key balance sheet trends for Northeast Indiana Bancorp (NIDB) at June 30, 2026?

At June 30, 2026, total assets were $553.9 million, net loans $412.6 million, and deposits $457.8 million. According to the company, assets fell $5.4 million and net loans declined $12.7 million since December 31, 2025, while deposits increased $2 million.

How strong were Northeast Indiana Bancorp’s (NIDB) capital and book value in Q2 2026?

Northeast Indiana Bancorp reported stockholders’ equity of $56.7 million and book value per share of $24.11 at June 30, 2026. According to the company, tangible common equity was 10.24%, and book value per share increased from $21.03 a year earlier.

What were Northeast Indiana Bancorp (NIDB) net interest margin and efficiency ratio in Q2 2026?

In Q2 2026, net interest margin was 3.70% and the efficiency ratio was 57.36%. According to the company, this compares with a 3.35% net interest margin and 58.38% efficiency ratio for Q2 2025, indicating improved core spread and cost efficiency.

What is the asset quality profile of Northeast Indiana Bancorp (NIDB) as of June 30, 2026?

As of June 30, 2026, non‑performing assets totaled $10.4 million, or 1.88% of total assets. According to the company, non‑performing loans were 2.48% of gross loans, and the allowance for credit losses covered 66.35% of non‑performing loans.

How many shares of Northeast Indiana Bancorp (NIDB) are outstanding and where does it trade?

Northeast Indiana Bancorp had 2,353,405 common shares outstanding at June 30, 2026. According to the company, the stock trades on the OTC Markets Group OTCQB platform under the symbol NIDB and is the parent of First Federal Savings Bank.