Exhibit 99.1





                                              FOR IMMEDIATE RELEASE
                                              JUNE 30, 2004
                                              FOR ADDITIONAL INFORMATION
                                              CONTACT: RANDY J SIZEMORE
                                                       SENIOR VICE PRESIDENT/CFO
                                                       (260) 358-4680

                         NORTHEAST INDIANA BANCORP, INC.
                     ANNOUNCES ACQUISITION OF BROKERAGE FIRM
                             THROUGH BANK SUBSIDIARY

HUNTINGTON, INDIANA, -- Northeast Indiana Bancorp, Inc. (the "Company")
announced today that its wholly-owned subsidiary, First Federal Savings Bank
(the "Bank") has acquired the brokerage firm Innovative Financial Services
("Innovative") through the Bank's subsidiary, Northeast Indiana Financial, Inc.
("Northeast Indiana"). The staff of Innovative Financial Services, including one
broker and three support staff, will become employees of the Bank through
Northeast Indiana. Innovative will be offering non-FDIC insured products such as
mutual funds, annuities, stocks, bonds, life insurance, estate planning,
retirement plans to small businesses, and brokerage accounts to its existing
customer base and to customers of the Bank and Northeast Indiana.

The broker for Innovative was named the national leading investment
representative five of the last six years out of approximately 550 national
representatives from Innovative's broker/dealer relationship. Innovative will
continue to operate from its current location for a brief period of time, but
will eventually move its operations into Northeast Indiana's location at 100
Frontage Road, Huntington, IN.

Stephen E. Zahn, President of the Company, stated that "this acquisition will
partner the leading retail bank in our market with one of the leading brokerage
firms in our market, which should make a more powerful financial services
company to serve our customer base."

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".

This press release may contain forward-looking statements, which are based on
management's current expectations regarding economic, legislative and regulatory
issues. Factors which may cause future results to vary materially include, but
are not limited to, general economic conditions, changes in interest rates, loan
demand, and competition. Additional factors include changes in accounting
principles, policies or guidelines; changes in legislation or regulation; and
other economic, competitive, regulatory and technological factors affecting each
company's operations, pricing, products and services.