Exhibit 99.1





                                                FOR IMMEDIATE RELEASE
                                                JANUARY 28, 2004
                                                FOR ADDITIONAL INFORMATION
                                                CONTACT:  RANDY J SIZEMORE
                                                          SR VICE PRESIDENT, CFO
                                                          (260) 358-4680



                    NORTHEAST INDIANA BANCORP, INC. ANNOUNCES
                    NINTH ANNUAL SHAREHOLDER MEETING DATE AND
                             QUARTERLY CASH DIVIDEND

HUNTINGTON,  INDIANA,  -- Northeast Indiana Bancorp,  Inc.,  (NEIB),  the parent
company of First Federal Savings Bank, has announced that the  Corporation  will
hold its ninth annual shareholders' meeting on April 21, 2004 at 1:00 PM eastern
standard  time.  The  meeting  will be held in the  boardroom  of First  Federal
Savings Bank at 100 Frontage  Road,  Huntington  Indiana.  The holders of record
date for the annual meeting will be March 5, 2004.

The Company also  announced a quarterly cash dividend of $0.14 per common share.
This cash dividend  will be payable on February 24, 2004 to common  shareholders
of record on February 10, 2004.

The book value of NEIB's  stock was $18.28 per common  share as of December  31,
2003. The last reported trade of the Company's stock at the close of business on
January  27,  2004 was  $20.61 per  common  share and the number of  outstanding
common  shares was  1,487,514 as of the same date.  The company  reported  total
assets of $227.4 million as of December 31, 2003.

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
Stock Market under the symbol "NEIB".