Northeast Indiana Bancorp, Inc. Completes Reverse/Forward Stock Split

Share Name	Share Symbol	Market	Type
Northeast Indiana Bancorp (MM)	NASDAQ:NEIB	NASDAQ	Common Stock

Northeast Indiana Bancorp (NASDAQ:NEIB)
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Northeast Indiana Bancorp, Inc. Completes Reverse/Forward Stock Split HUNTINGTON, Ind., June 16 /PRNewswire-FirstCall/ -- Northeast Indiana Bancorp, Inc. ("NEIB"), announced today that its previously announced 1-for-125 reverse split of NEIB's common stock to be followed immediately by a 125-for-1 forward split has been completed (the "Split Transaction"). Stockholders holding shares of the Company's capital stock representing the required majority of votes approved the Split Transaction at the Company's annual meeting of stockholders held on June 15, 2005. The Company filed Certificates of Amendment of its Certificate of Incorporation with the Secretary of State of Delaware to effect the Split Transaction on June 15, 2005, and as a result of the effectiveness of the Split Transaction, registered stockholders holding less than one share of common stock immediately after the effectiveness of the reverse stock split on June 15, 2005, have the right to receive cash at a price of $23.50 per whole pre-split share of common stock held by them immediately prior to the effectiveness of the reverse split. Stockholders holding more than one share of common stock after the reverse split participated in the forward split and therefore continued to hold the same number of shares immediately after the Split Transaction as they did immediately before the Split Transaction. The Split Transaction has reduced the number of stockholders of record of the Company to less than 300, enabling the Company to terminate its reporting obligations with the Securities and Exchange Commission under the Securities Exchange Act of 1934. The Company expects to file a Form 15 with the Securities and Exchange Commission to cease reporting as a public company as soon as practicable. Stockholders entitled to cash payments will be requested to exchange their certificates representing shares of common stock held prior to the reverse stock split for the cash they are entitled to receive. Stockholders will be furnished with necessary materials and instructions to effect such exchange as soon as practicable by the Company's transfer agent. Stockholders should not submit any certificates until requested to do so. Northeast Indiana Bancorp, Inc. is headquartered at 648 North Jefferson Street, Huntington, Indiana. The Corporation offers a full array of banking, trust, and financial brokerage services to its customers through three full service branches located in Huntington, Indiana. The Corporation is traded on the NASDAQ-NM under the symbol "NEIB." Forward-looking statements made herein reflect management's expectations as of the date such statements are made. Such information is provided to assist stockholders and potential investors in understanding current and anticipated financial operations of the Corporation and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Corporation's ability to predict future results involves a number of risks and uncertainties, some of which have been set forth in the Corporation's most recent annual report on Form 10-KSB, which disclosures are incorporated by reference herein. The Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made. DATASOURCE: Northeast Indiana Bancorp, Inc. CONTACT: Stephen E. Zahn, Chairman of the Board, President, Chief Executive Officer, Michael S. Zahn, Senior Vice President, or Randy J. Sizemore, Senior Vice President, of Northeast Indiana Bancorp, Inc., +1-260-356-3311 Web site: http://www.firstfedhuntington.com/

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NEIB Northeast Indiana Bancorp (MM)