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Northeast Indiana Bancorp ( OTCQB:NIDB ), the parent company of First Federal Savings Bank, said on Thursday that it will implement a 2-for-1 forward share split on July 14.
The company said shareholders of record as of June 30 will be entitled to the share split.
Northeast Indiana Bancorp had 1.2M outstanding shares as of March 31, which will increase to 2.4M outstanding shares after the split.