Northeast Indiana Bancorp, Inc. Promotes Michael Zahn to CEO

HUNTINGTON, Ind., Dec. 23, 2010 /PRNewswire-FirstCall/ — The board of directors
of Northeast Indiana Bancorp, Inc. (OTC Bulletin Board: NIDB), the parent
company of First Federal Savings Bank, announced that Michael S. Zahn will be
promoted to Chief Executive Officer effective January 1, 2011. Michael has
served as President of First Federal and Executive Vice President of Northeast
Indiana Bancorp, Inc. since 2005, served as Senior Vice President of both
companies from 2000 until 2005 and has served on the board of directors of both
entities since 2000. Prior to 2000, Michael served First Federal in various
capacities since first joining the bank in 1996. Michael holds a Bachelor of
Arts degree from Indiana University and earned an MBA from the University of
Notre Dame.

Stephen E. Zahn will retire as CEO on December 31, 2010 but will remain Chairman
of the Board of both Northeast Indiana Bancorp, Inc. and First Federal Savings
Bank. Commenting on the promotion, Chairman Zahn stated “I feel Michael will
guide the bank to continued profitability and growth in the coming years.
Michael has already been instrumental in expanding the bank’s market footprint
during his tenure as President. He’s willing to seek out new products and
services that meet demand in our markets.”

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 Over the Counter Bulletin Board under the symbol
“NIDB”. Our web site address is www.firstfedindiana.com.

SOURCE Northeast Indiana Bancorp, Inc.