You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Yellen sees economy as hazy
    JACKSON HOLE, Wyo. – If anyone thought Janet Yellen might clarify her view of the U.S. job market in her speech Friday, the Federal Reserve chair had a message:The picture is still hazy.
  • Rib Room building sold; eatery to remain
    The owner of the Rib Room, 1234 E. State Blvd., has sold the building that houses the restaurant to local real estate investors Matt, Kurt and Chris Henry, according to a statement Friday.
  • McDonald's names Logan's CEO to lead its U.S. unit
    CHICAGO – McDonald’s Corp. said Friday that longtime restaurant executive Mike Andres will take over as president of the chain’s U.S. operations, which have struggled to boost sales amid increased competition.
Advertisement

Northeast Indiana Bancorp sets earnings record

Northeast Indiana Bancorp Inc. on Friday reported record annual earnings for last year. The financial services company reported 2012 earnings of $2.86 million, or $2.31 per diluted common share, a 40 percent jump from the $2.04 million, or $1.65 a share, posted for 2011.

The Huntington-based parent of First Federal Savings Bank also reported record fourth-quarter earnings of $913,187, or 74 cents per diluted common share, a 23 percent increase from the $742,814, or 60 cents a share, posted for the same three months of the prior year.

First Federal Savings Bank converted last year from a federal thrift charter to an Indiana commercial bank charter. Bank officials decided to make the change because federal thrift rules require a certain minimum of total assets be used for residential mortgages and no more than 20 percent of total loans be made to business borrowers. The bank is anticipating growth in commercial lending, an official said in June.

Advertisement