July 29, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Northeast Indiana Bancorp, Inc., (OTCBB: NIDB), the parent company of First Federal Savings Bank, said it will pay a cash dividend of $0.17 per common share.  The dividend will be payable on August 24, 2010 to shareholders of record on August 10, 2010.

The book value of NIDB's stock was $19.11 per common share as of June 30. The last reported trade of stock at the close of business on July 27 was $10.50 per common share and the number of outstanding shares was 1,239,946 as of the same date.

Northeast Indiana said that the annualized dividend yield is currently 6.5% when annualizing the current quarter cash dividend of $0.17 per common share against the July 27 closing price of $10.50 per common share.

Indiana-based Northeast Indiana Bancorp offers a range of banking and financial brokerage services to its customers through its main office in Huntington and four full-service Indiana offices in Huntington, Warsaw and Fort Wayne, Indiana

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