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

  • Beer trend reversal brewing
    RICHMOND, Va. – Helping to quench a growing thirst for American craft beer overseas, some of the United States’ largest craft breweries are setting up shop in Europe, challenging the very beers that inspired them on their
  • SDI forges $1.6 billion deal for Mississippi mill
    Steel Dynamics Inc. is significantly expanding its steel production with the $1.625 billion purchase of a Mississippi mini-mill, officials announced Monday.
  • Existing-home sales dip in 1st half
    Sales are down from last year, but real estate officials say there’s reason to be upbeat.
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