Exhibit 99.1









                                                FOR IMMEDIATE RELEASE
                                                SEPTEMBER 21, 2004
                                                FOR ADDITIONAL INFORMATION
                                                CONTACT:  RANDY J SIZEMORE
                                                          SR VICE PRESIDENT, CFO
                                                             (260) 358-4680



                         NORTHEAST INDIANA BANCORP, INC.
                              ANNOUNCES COMPLETION
                           OF STOCK REPURCHASE PROGRAM

HUNTINGTON,  INDIANA,  -- Northeast  Indiana Bancorp,  Inc.  (NEIB),  the parent
company of First  Federal  Savings  Bank,  has  announced  that the  Corporation
completed the stock  repurchase  program opened in March 2004. NEIB  repurchased
74,446 common shares at an average price of $21.90.  NEIB now has  approximately
1,425,000 common shares outstanding.

The book value of NEIB's  stock was $18.07 per common share as of June 30, 2004.
The last  reported  trade of the  Company's  stock at the close of  business  on
September 20, 2004 was $21.28.

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".