Record profit for First Federal parent
HUNTINGTON, Ind. (Inside INdiana Business) — Huntington-based Northeast Indiana Bancorp is reporting record first quarter net income of $1.9 million, up from just over $1 million during the same period last year. The parent of First Federal Savings Bank says it also saw an increase in total assets, loans and deposits during the quarter.
In addition to the record earnings, the bank says it continues to provide assistance to small businesses and nonprofits throughout the region through the Paycheck Protection Program. With this year’s iteration of the SBA’s program, the bank says it has helped more than 300 clients secure about $25 million in funding during the first quarter.
The bank adds it continues to help clients with forgiveness applications for PPP loans they received last year.
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