Northeast Indiana Bancorp, Inc. Increases Quarterly Cash Dividend and Announces New Branch Location

HUNTINGTON, Ind., Oct. 20, 2011 /PRNewswire/ — The Board of Directors of
Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First
Federal Savings Bank, is proud to announce the Corporation has increased the
cash dividend paid to shareholders for the 17th year in row. In addition, as the
Bank celebrates its 100th anniversary next year, our 6th full service banking
location is scheduled to open in the first half of 2012 on the northeast side of
Fort Wayne.

The cash dividend of $0.18 per common share represents a 2.9% increase over the
Company’s previous quarterly dividend. President and CEO Michael S. Zahn stated,
“We are pleased to be able to reward our shareholders with another dividend
increase. Our strong earnings per share, which allows us to pay a generous
dividend, are the results of hard work by our employees and the customers’ trust
in our community bank.” The dividend will be payable on November 22, 2011 to
shareholders of record on November 8, 2011. This makes an annualized dividend
yield of 5.9% based on a closing price of $12.26 per common share, which was the
last reported trade on October 19, 2011.

In addition, First Federal Savings Bank will locate a new full-service banking
facility at 10316 Maysville Road, Fort Wayne, Indiana. This will be the Bank’s
second location in Fort Wayne. CEO Zahn further states, “After opening our first
location in 2009, we are excited about building on our success in this market.
This allows us to expand our footprint as well as the ability to serve more of
the community.” The new facility will offer traditional banking services at this
location including a full service lobby, drive-up and ATM access as well as
brokerage and financial planning services through First Federal’s wealth
management division, Innovative Financial Services.

The book value of NIDB’s stock was $20.62 per common share as of September 30,
2011, with 1,239,946 shares outstanding. 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 four full-service Indiana offices in
Huntington (2), Warsaw and Fort Wayne. 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.com.

SOURCE Northeast Indiana Bancorp, Inc.