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 7, 1998
NORTHEAST INDIANA BANCORP, INC.
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(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)
Registrant's telephone number, including area code: (219) 356-3311
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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. issued a press release dated July 7, 1998,
attached hereto as Exhibit 28.1 announcing First Quarter Earnings.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
Exhibit 28.1 Press Release dated July 7, 1998.
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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
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Date: July 7, 1998 By: Stephen E. Zahn
President and Chief Executive Officer
Exhibit 28.1
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FOR IMMEDIATE RELEASE
JULY 7, 1998
FOR ADDITIONAL INFORMATION
CONTACT: DARRELL E. BLOCKER
SR VICE PRESIDENT, CFO
(219) 356-3311
NORTHEAST INDIANA BANCORP, INC.
ANNOUNCES A STOCK REPURCHASE PROGRAM
HUNTINGTON, INDIANA, -- Northeast Indiana Bancorp, Inc. (the "Company")
announced its intention today to repurchase up to 10% or 164,262 shares of its
current outstanding shares in the open market over the next twelve months. These
shares will be purchased at prevailing market prices and may include odd lot
purchases over the twelve month period depending upon market conditions.
On July 18, 1997, the Company announced a stock repurchase program to buyback up
to approximately 10% of the then outstanding shares over a twelve month period.
During that twelve month period, the Company repurchased 125,000 of those
shares. The Company currently has 1,642,617 shares outstanding.
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 continue to be
of the opinion 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."
Northeast Indiana Bancorp, Inc. is headquartered at 648 North Jefferson Street,
Huntington, Indiana 46750 and the Company is traded on the Nasdaq National
Market under the symbol "NEIB".
