You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Jobless rate falls to 4.9%
    The bleeding stopped last month.Unemployment in metro Fort Wayne declined to 4.9 percent in August, compared with 6 percent in July – the third consecutive month the jobless rate fell.
  • Business leaders off to Japan
    John Sampson, president and CEO of the Northeast Indiana Regional Partnership, will lead a delegation of representatives from Fort Wayne Metals, Indiana Michigan Power and the LaGrange County Economic Development Corp. to Japan.
  • Metro area reports unemployment decline
    Metro Fort Wayne unemployment declined in August to 4.
Advertisement

Northeast Indiana Bancorp sets earnings record

Northeast Indiana Bancorp Inc. on Friday reported record annual earnings for last year. The financial services company reported 2012 earnings of $2.86 million, or $2.31 per diluted common share, a 40 percent jump from the $2.04 million, or $1.65 a share, posted for 2011.

The Huntington-based parent of First Federal Savings Bank also reported record fourth-quarter earnings of $913,187, or 74 cents per diluted common share, a 23 percent increase from the $742,814, or 60 cents a share, posted for the same three months of the prior year.

First Federal Savings Bank converted last year from a federal thrift charter to an Indiana commercial bank charter. Bank officials decided to make the change because federal thrift rules require a certain minimum of total assets be used for residential mortgages and no more than 20 percent of total loans be made to business borrowers. The bank is anticipating growth in commercial lending, an official said in June.

Advertisement