SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 8, 1996
NORTHEAST INDIANA BANCORP, INC.
(Exact name of Registrant as specified in its Charter)
Delaware 0-26012 35-1948594
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
incorporation) Number)
648 North Jefferson Street, Huntington, Indiana 46750
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(Address of principal executive offices) (Zip Code)
(219) 356-3311
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Registrant's telephone number, including area code:
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
Northeast Indiana Bancorp, Inc. (the "Registrant") issued a press release dated
July 8, 1996, attached hereto as Exhibit 28.1 announcing a stock repurchase
program.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
Exhibit 28.1 Press Release dated July 8, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
NORTHEAST INDIANA BANCORP, INC.
\S\ STEPHEN E. ZAHN
Date: July 8, 1996 By:
Stephen E. Zahn
President and Chief Executive Officer
Exhibit 28.1
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FOR IMMEDIATE RELEASE
JULY 8, 1996
FOR ADDITIONAL INFORMATION
CONTACT: DARRELL E. BLOCKER
SR VICE PRESIDENT, CFO
(219) 356-3311
NORTHEAST INDIANA BANCORP, INC.
ANNOUNCES STOCK REPURCHASE PROGRAM
HUNTINGTON, INDIANA, -- Northeast Indiana Bancorp, Inc. announced its intention
today to repurchase up to 5% of its outstanding shares in the open market over
the next six months. These shares will be purchased at prevailing market prices
from time to time over a six month period depending upon market conditions.
Stephen E. Zahn, President of the Company, indicated that the Board of Directors
approved the repurchase program in view of the current price level of the
Company's common stock and the strong capital position of the Company's
subsidiary, First Federal Savings Bank. Mr. Zahn stated that "we believe that
the repurchase of our shares represents an attractive investment opportunity
which will benefit the Company and our stockholders. The repurchased shares will
become treasury shares and will be used for general corporate purposes,
including the issuance of shares in connection with grants and awards under the
company's stock based benefit plans."
Over the past three months, the shares traded between $11.50 and $13.00. At
March 31, 1996, the Company had $141.0 million in assets and stockholders'
equity of $28.7 million. On such date, the Company had 2,061,670 shares
outstanding.
The Company's stock is traded on the NASDAQ System under the symbol "NEIB".
