| Business Summary | | Northeast
Indiana
Bancorp,
Inc.
is
the
holding
company
for
its
wholly
owned
subsidiary,
First
Federal
Savings
Bank,
a
federally
chartered
stock
savings
association.
The
Company's
principal
business
consists
of
attracting
retail
deposits
from
the
general
public
(primarily
in
Huntington
County,
Indiana)
and
investing
those
funds,
primarily
in
first
mortgage
loans
on
owner-occupied,
single-family
residential
real
estate.
The
Company
also
originates
commercial
real
estate,
construction,
consumer
and
commercial
business
loans,
and
invests
in
obligations
of
states
and
political
subdivisions,
mutual
funds
and
other
permissible
investments.
The
Company
offers
traditional
trust
services,
including,
but
not
limited
to,
revocable
living
trusts,
testamentary
trusts,
investment
agency
relationships,
estate
administration,
guardianships
and
custodial
accounts.
As
of
December
31,
2000,
the
Company
had
$247.1
million
of
assets
and
stockholders'
equity
of
$26.6
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NEIB
is
a
holding
company
for
First
Federal
Savings
Bank.
For
the
six
months
ended
6/30/01,
total
interest
income
decreased
7%
to
$9.1
million.
Net
interest
income
after
loan
loss
provision
decreased
8%
to
$3.1
million.
Net
income
decreased
11%
to
$908
thousand.
Net
interest
income
reflects
a
decreased
earning
asset
balance
and
lower
margins
due
to
the
current
rate
environment.
Net
income
also
reflects
an
increased
data
processing
expense
due
to
software
upgrades. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Stephen Zahn, 58 Chairman,
Pres and CEO | $327K | Darrell Blocker, 47 CFO,
Sr. VP, Treasurer | -- | Dee Ann Hammel, 48 COO,
Sr. VP, Sec. | -- | Michael Zahn, 31 Sr.
VP, Director | -- | Joseph Byers, 48 VP
and Sr. Trust Officer | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|