Exhibit 28.1


                                               FOR IMMEDIATE RELEASE
                                               NOVEMBER 1, 2002
                                               FOR ADDITIONAL INFORMATION
                                               CONTACT:  RANDY J SIZEMORE
                                                         SR VICE PRESIDENT, CFO
                                                         (260) 358-4680



             NORTHEAST INDIANA BANCORP, INC. INCREASES CASH DIVIDEND



HUNTINGTON,  INDIANA, -- (NASDAQ:  "NEIB") Northeast Indiana Bancorp,  Inc., the
parent  corporation  of First Federal  Savings Bank,  today  announced  that the
Corporation  has  approved a quarterly  cash  dividend of $0.13 per share.  This
represents  an 8.3% increase over the  Company's  previous  quarter  dividend of
$0.12 per share,  and is the  seventh  consecutive  year the  dividend  has been
increased.  This  cash  dividend  will  be  payable  on  November  27,  2002  to
shareholders of record on November 14, 2002.

Northeast  Indiana  Bancorp  Chairman  Stephen E. Zahn stated that "the Board of
Directors  has  increased  this cash  dividend in  recognition  of the Company's
continued profitability."

The book value of NEIB's  stock was $17.42 per share as of  September  30, 2002.
The last  reported  trade of the  Company's  stock at the close of  business  on
October 31, 2002 was $15.10 per share and the number of  outstanding  shares was
1,508,943  as of the same date.  The  Company  reported  total  assets of $223.0
million as of September 30, 2002.

Northeast Indiana Bancorp,  Inc. is headquartered at 648 North Jefferson Street,
Huntington,  Indiana.  The Company  offers a full array of banking,  trust,  and
financial  brokerage  services  to its  customers  through  three  full  service
branches  located in  Huntington,  Indiana.  The Company is traded on the NASDAQ
National Market under the symbol "NEIB".