SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549



                                   FORM 10-QSB

   [X]     QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE
           SECURITIES EXCHANGE ACT OF 1934

           For the quarterly period ended March 31, 2000

  [  ]     TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE
           EXCHANGE ACT

                        For the transition period from to

                         Commission file number 0-26012.

                         NORTHEAST INDIANA BANCORP, INC.
        (Exact Name of Small Business Issuer as Specified in its Charter)

           Delaware                                    35-1948594
 ------------------------------                       -------------
(State or other jurisdiction of                       (IRS Employer
incorporation or organization)                       Identification No.)


                648 North Jefferson Street, Huntington, IN 46750
               ----------------------------------------------------
               (Address of principal executive offices) (Zip Code)

Issuer's telephone number, including area code: (219) 356-3311

    Check  whether  the Issuer  (1) filed all  reports  required  to be filed by
    Section  13 or 15(d) of the  Exchange  Act during the past 12 months (or for
    such shorter period that the Issuer was required to file such reports),  and
    (2) has been subject to such requirements for the past 90 days.
    YES [X] NO [ ]


State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:


CLASS                                         OUTSTANDING AT MAY 4, 2000
---------------------                         ---------------------------
Common Stock, par value $.01 per share               1,743,036


         Transitional Small Business Disclosure Format:  YES [ ]  NO [X]


<PAGE>

                         NORTHEAST INDIANA BANCORP, INC.

                                      INDEX
                                                                            Page
             PART 1.     FINANCIAL INFORMATION (UNAUDITED)

             Item 1.     Financial Statements (Condensed)

                         Consolidated Balance Sheets
                         March 31, 2000 and December 31, 1999                  1

                         Consolidated Statements of Income for the
                          three months ended March 31, 2000 and 1999           2

                         Consolidated Statement of Changes in Shareholders'
                         Equity for the three months ended March 31, 2000      3

                         Consolidated Statements of Cash Flows for the three
                         months ended March 31, 2000 and 1999                  4

                         Notes to Consolidated Financial Statements            5


             Item 2.     Management's Discussion and Analysis of Financial
                         Condition and Results of Operations                   8



             PART II.    OTHER INFORMATION

             Item 1.     Legal Proceedings                                    14

             Item 2.     Change In Securities                                 14

             Item 3.     Defaults Upon Senior Securities                      14

             Item 4.     Submissions of Matter to a Vote
                         of Security Holders                                  14

             Item 5.     Other Information                                    15

             Item 6.     Exhibits and Reports on Form 8-K                     15

                         Signature page                                       16

<PAGE>
<TABLE>
<CAPTION>
                         NORTHEAST INDIANA BANCORP, INC.
                           CONSOLIDATED BALANCE SHEETS
                      March 31, 2000 And December 31, 1999

                                                                                  March 31,          December 31,
                                                                                    2000                1999
                                                                                (Unaudited)
ASSETS
<S>                                                                          <C>                   <C>
Interest earning cash and cash equivalents                                   $   4,398,782         $   2,938,701
Noninterest earning cash and cash equivalents                                    2,112,863             2,960,502
                                                                             -------------        --------------
        Total cash and cash equivalents                                          6,511,645             5,899,203
Interest-earning deposits in financial institutions                                100,000               100,000
Securities available for sale                                                   33,152,210            33,192,217
Securities held to maturity (fair value: March 31, 2000- $420,251;
  December 31, 1999 - $456,511)                                                    420,251               456,511
Loans receivable, net of allowance for loan losses March 31, 2000
  $1,876,987 and December 31, 1999 $1,766,700                                  209,063,014           208,394,576
Accrued interest receivable                                                        983,635               839,967
Premises and equipment                                                           2,295,754             2,292,342
Investments in limited liability partnerships                                    1,304,732             1,332,128
Other assets                                                                     2,914,347             2,239,874
                                                                             -------------        --------------
        Total assets                                                         $ 256,745,588         $ 254,746,818
                                                                             =============         =============

LIABILITIES AND SHAREHOLDERS' EQUITY
Demand deposits                                                              $   4,619,909          $  4,407,411
Savings                                                                         10,231,057             9,709,295
NOW and MMDDA                                                                   28,903,106            30,544,441
Other time deposits                                                             97,746,000            98,550,446
                                                                             -------------        --------------
        Total deposits                                                         141,500,072           143,211,593
Borrowed funds                                                                  87,994,439            84,753,919
Accrued expenses and other liabilities                                           1,303,850             1,126,007
                                                                             -------------        --------------
        Total liabilities                                                      230,798,361           229,091,519

Shareholders' equity
        Preferred Stock 500,000 shares authorized; 0 shares issued                     --                    --
        Common stock, $.01 par value: 4,000,000 shares
          authorized; 2,640,672 shares issued at
           March 31, 2000 and December 31,1999                                      26,407                26,407
        Additional paid in capital                                              28,743,036            28,733,423
        Retained earnings, substantially restricted                             10,985,894            10,641,144
        Unearned employee stock ownership plan shares                           (1,018,325)           (1,018,325)
        Unearned recognition and retention plan shares                            (173,814)             (229,851)
        Net unrealized appreciation on securities available
          for sale                                                                (543,060)             (543,742)
        Treasury stock, 897,636 and 887,152 common shares, at
          cost, at March 31, 2000 and December 31, 1999                        (12,072,911)          (11,953,757)
                                                                             -------------        --------------
               Total shareholders' equity                                       25,947,227            25,655,299
                      Total liabilities and shareholders' equity             $ 256,745,588         $ 254,746,818
                                                                             =============       ===============
</TABLE>
                 See accompanying notes to financial statements

                                       1
<PAGE>
<TABLE>
<CAPTION>
                         NORTHEAST INDIANA BANCORP, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
                   Three months ended March 31, 2000 and 1999

                                                         Three months ended
                                                              March 31,
                                                       2000             1999
                                                       ----             ----
                                                                     (Unaudited)
Interest income
<S>                                             <C>              <C>
   Loans, including fees                        $   4,234,434    $    3,770,467
   Taxable securities                                 548,478           226,915
   Non-taxable securities                               5,817             6,487
   Deposits with banks                                 52,190            46,266
                                                -------------     --------------
     Total interest income                          4,840,919         4,050,135

Interest expense
   Deposits                                         1,677,744         1,328,343
   Borrowed funds                                   1,234,806           837,869
                                                -------------     --------------
     Total interest expense                         2,912,550         2,166,212

Net interest income                                 1,928,369         1,883,923
Provision for loan losses                             191,250           100,500
                                                -------------     --------------

Net interest income after provision for loan
  losses                                            1,737,119         1,783,423

Noninterest income
   Service charges on deposit accounts                 85,794            73,050
   Loan servicing fees                                 52,607            67,843
   Other                                               91,095            48,398
                                                -------------     --------------
     Total noninterest income                         229,496           189,291

Noninterest expense
   Salaries and employee benefits                     589,547           523,479
   Occupancy                                          116,180            99,190
   Data processing                                    143,860           126,566
   Insurance expense                                    6,360            19,714
   Professional fees                                   63,065            38,874
   Correspondent bank charges                          55,970            52,528
   Other expense                                      194,231           171,052
                                                -------------     --------------
     Total noninterest expense                      1,169,213         1,031,403
                                                -------------     --------------
Income before income taxes                            797,402           941,311
   Income tax expense                                 278,428           360,287
                                                -------------     --------------

Net income                                      $     518,974       $    581,024
                                                =============       ============
Comprehensive income                            $     519,656       $    556,241
                                                =============       ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S>                                             <C>              <C>
Basic earnings per common share                 $     0.32        $      0.35
Diluted earnings per common share               $     0.32        $      0.34
Net interest margin                                   3.14%              3.70%
Return on average assets                              0.81%              1.10%
Return on average equity                              8.03%              9.18%
Shareholder's Equity to assets                       10.11%             11.74%
</TABLE>
                 See accompanying notes to financial statements

                                       2
<PAGE>
<TABLE>
<CAPTION>
                         NORTHEAST INDIANA BANCORP, INC.
            CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY
                        Three months ended March 31, 2000
                                   (Unaudited)

                                                                                                 Unearned
                                                                                                 Employee       Unearned
                                                                   Additional                     Stock        Recognition
                                                         Common     Paid-in       Retained       Ownership    And Retention
                                                         Stock      Capital       Earnings      Plan Shares    Plan Shares
                                                         -----      -------       --------      -----------    -----------
<S>                                                      <C>      <C>            <C>             <C>              <C>
 Earnings
Balance, December 31, 1999                               26,407   28,733,423     10,641,144      (1,018,325)      (229,851)

Net Income March 31, 2000                                                           518,974



     Total other comprehensive income

Comprehensive income

Dividends Paid $.10 per share year to date                                         (174,224)

Purchase of 14,422 shares of Treasury Stock

Sale of 4,422 shares of Treasury Stock                                (5,942)

Shares committed to be released under  ESOP                           15,426

Purchase of 500 shares for RRP                                           129                                        (5,656)

Amortization of RRP Contributions net of 984                                                                       (61,693)
RRP Shares forfeited
                                                     ----------  -----------   ------------    ------------  -------------
Balance at March 31, 2000                                26,407   28,743,036     10,985,894      (1,018,325)      (173,814)
                                                     ==========  ===========   ============    ============  =============
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                                                          Net
                                                       Unrealized
                                                      Appreciation
                                                      on Securities                      Total
                                                       Available-     Treasury       Shareholders'
                                                        For Sale        Stock           Equity
                                                        --------    -------------   --------------
<S>                                                      <C>          <C>              <C>
Balance, December 31, 1999                              (543,742)    (11,953,757)      25,655,299

Net Income March 31, 2000                                                                 518,974



     Total other comprehensive income                         682                             682

Comprehensive income                                                                      519,656

Dividends Paid $.10 per share year to date                                               (174,224)

Purchase of 14,422 shares of Treasury Stock                             (162,583)        (162,583)

Sale of 4,422 shares of Treasury Stock                                    48,879           42,937

Shares committed to be released under  ESOP                                                15,426

Purchase of 500 shares for RRP                                             5,527                -

Amortization of RRP Contributions net of 984                             (10,977)          50,716
RRP Shares forfeited
                                                     -------------  -------------      ----------
Balance at March 31, 2000                                (543,060)   (12,072,911)      25,947,227
                                                     =============  =============      ==========
</TABLE>


                 See accompanying notes to financial statements

                                       3
<PAGE>
<TABLE>
<CAPTION>
                         NORTHEAST INDIANA BANCORP, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                   Three months ended March 31, 2000 and 1999
                                                                                     Three months ended
                                                                                           March 31,
                                                                                    2000                1999
                                                                                    ----                ----
                                                                                         (Unaudited)
<S>                                                                           <C>                  <C>
Cash flows from operating activities
        Net income                                                            $    518,974         $    581,024
        Adjustments to reconcile net income
          to net cash from operating activities
        Depreciation and amortization                                              117,573               55,256
        Provision for loan losses                                                  191,250              100,500
        Net (gain) loss on sale of foreclosed real estate                            4,437               (1,811)
        Net (gain) loss on sale of premises and equipment                           14,452                    -
        Net (gain) loss on sale of securities available for sale                     1,563                    -

        Reduction of obligation under ESOP                                          15,426               31,640
        Amortization of RRP                                                         50,716               52,971
               Net change in:
                      Other assets                                                (645,541)             506,155
                      Accrued interest receivable                                 (143,668)              70,415
                      Accrued expenses and other liabilities                       177,843             (198,191)
                                                                                -----------          ----------
                      Total adjustments                                           (215,949)             616,935
                                                                                -----------          ----------
                                    Net cash from operating activities             303,025            1,197,959

Cash flows from investing activities
        Purchases of securities available for sale                              (5,057,675)            (689,783)
        Proceeds from maturities and principal payments
          of securities available for sale                                          67,874            2,356,987
        Proceeds from maturities and principal payments
          of securities held to maturity                                            36,212               35,264
        Proceeds from sale of securities available for sale                      4,998,438                    -
        Purchases of loans                                                               -                    -
        Proceeds from sale of loans                                                      -                    -
        Net change in loans                                                       (938,066)          (4.824,301)
        Proceeds from sale of foreclosed real estate                                44,563               92,856
        Expenditures on premises and equipment                                     (77,433)            (151,537)
        Proceeds from sale of premises and equipment                                   375                    -
                                                                               -----------           ----------
               Net cash from investing activities                                 (925,712)          (3,180,514)

Cash flows from financing activities
        Net change in deposits                                                  (1,711,521)            (165,262)
        Advances from FHLB                                                      45,000,000           27,000,000
        Repayment of FHLB advances                                             (41,499,772)         (24,999,745)
        Payments of demand notes                                                         -             (390,000)
        Net change in other borrowed funds                                        (259,708)             513,412
        Dividends paid                                                            (174,224)            (150,112)
        Purchase of stock                                                         (162,583)            (333,225)
        Sale of treasury stock                                                      42,937                7,476
                                                                               -----------           ----------
               Net cash from financing activities                                1,235,129            1,482,544
                                                                               -----------           ----------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S>                                                                           <C>                  <C>
Net change in cash and cash equivalents                                            612,442             (500,011)

Cash and cash equivalents at beginning of period                                 5,899,203            6,295,637
                                                                               -----------           ----------

Cash and cash equivalents at end of period                                    $  6,511,645         $  5,795,626
                                                                              ============           ==========

Cash paid for:
        Interest                                                              $  2,777,447         $  2,163,139
        Income taxes                                                                82,000               50,000

Non-cash transactions:
        Investment in obligation relative to limited partnership                  $      -              $     -
        Transfer from loans to other real estate                                    78,378               32,829
</TABLE>
                 See accompanying notes to financial statements

                                       4

<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2000

NOTE 1 - BASIS OF PRESENTATION

The  unaudited  information  for the three  months ended March 31, 2000 and 1999
includes  the  results  of  operations  of  Northeast   Indiana  Bancorp,   Inc.
("Northeast  Indiana  Bancorp") and its wholly-owned  subsidiary,  First Federal
Savings  Bank  ("First  Federal")  and its wholly  owned  subsidiary,  Northeast
Indiana  Financial,  Inc.  ("Northeast  Indiana  Financial").  In the opinion of
management,  the information reflects all adjustments (consisting only of normal
recurring  adjustments)  necessary  for a fair  presentation  of the  results of
operations  for the three month period  reported but should not be considered as
indicative of the results to be expected for the full year.

NOTE 2 - EMPLOYEE STOCK OWNERSHIP PLAN

The Company has  established an employee stock  ownership plan ("ESOP").  At the
date of conversion the ESOP purchased  211,261 shares of common stock (restated)
of Northeast Indiana Bancorp,  which was financed,  by Northeast Indiana Bancorp
and  collateralized  by the  shares  purchased.  The  borrowing  is  payable  in
semi-annual  principal  payments of $72,000 over a 12 year period plus interest.
All  employees of First  Federal are eligible to  participate  in the ESOP after
they attain age 21 and complete one year of service  during which they worked at
least 1,000 hours. As of December 31, 1999,  88,044 shares have been distributed
to the plan participants.

NOTE 3 - EARNINGS PER SHARE
Basic   earnings  per  share  are  based  on   weighted-average   common  shares
outstanding.  Diluted  earnings per share  further  assume issue of any dilutive
potential  common shares.  The following  table has been restated to reflect the
10% stock  dividend  announced  on October 26, 1999 and payable on November  22,
1999 to shareholders of record on November 8, 1999.
<TABLE>
<CAPTION>
                                                                   Three months ended
                                                                       March 31,
                                                                 2000               1999
                                                                 ----               ----
<S>                                                           <C>               <C>
Earnings Per Share
  Net income available to common shareholders                 $  518,974        $  581,024
  Weighted average common shares outstanding                   1,606,319         1,650,047
     Basic Earnings Per Share                                 $     0.32        $     0.35

Earnings Per Share Assuming Dilution
   Net income available to common shareholders                $  518,974        $  581,024
   Weighted average common shares outstanding                  1,606,319         1,650,047
   Add: dilutive effects of assumed exercises of
             incentive stock options and non qualified
             stock options                                        30,268            64,916
   Weighted average and dilutive common shares
      outstanding                                              1,636,587         1,714,963
Diluted earnings per share                                    $     0.32        $     0.34
</TABLE>

                                       5

<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2000



NOTE 4 - COMMON STOCK DIVIDENDS

On April 21, 2000 the Board of  Directors  of Northeast  Indiana  Bancorp,  Inc.
announced a quarterly cash dividend of $.10 per share. The dividend will be paid
on May 22,  2000 to  shareholders  of record on May 8, 2000.  The payment of the
cash dividend will reduce shareholders' equity (second quarter) by approximately
$174,000.

Common share amounts,  market values and price per share disclosures  related to
stock  repurchase  programs,  stock based  compensation  plans and  earnings and
dividends per share  disclosures  have been restated for the 10% stock  dividend
declared on October 26, 1999.  Stock  dividends  for 20% or less are reported by
transferring  the market value, as of the ex-dividend  date, of the stock issued
from  retained   earnings  to  common  stock  and  additional   paid-in-capital.
Fractional shares will be rounded up to the next whole share.

NOTE 5 - STOCK REPURCHASE PLAN

On June 29, 1999  Northeast  Indiana  Bancorp  announced a new stock  repurchase
program  to  repurchase  10% of the  outstanding  shares  in the open  market as
Treasury  shares over the next twelve  months.  This  program will include up to
180,165 shares.  As of May 4, 2000,  53,100 shares have been  repurchased  under
this program since its announcement.

There were also 4,422 shares  repurchased  from  exercised  options year to date
through  May 4,  2000  and  984  shares  of  RRP's  relinquished  due  to  early
retirement.

                                       6
<PAGE>
                        NORTHEAST INDIANA BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2000


NOTE 6 - REGULATORY CAPITAL REQUIREMENTS

Pursuant to federal regulatory  agencies,  savings  institutions must meet three
separate minimum capital-to-asset  requirements. The following table summarizes,
as of March 31, 2000,  the capital  requirements  for First  Federal under those
regulatory  requirements and First Federal's actual capital ratios.  As of March
31, 2000, First Federal  substantially  exceeded all current  regulatory capital
standards.
<TABLE>
<CAPTION>

                                                                             Minimum Required For       Minimum Required To Be Well
                                                                           Capital Adequacy Purpose      Capitalized Under Prompt
                                                          Actual                                       Corrective Action Regulations
                                                    Amount       Ratio      Amount           Ratio           Amount      Ratio
                                                    ------      -------     ------          -------          ------     -------
                                                                            (Dollars in thousands)
<S>                                               <C>            <C>         <C>               <C>           <C>           <C>
Total Capital
(to risk weighted assets)                         $25,517        15.59%      $13,096           8.0%          $16,370       10.0%


Tier 1 (core) capital
(to risk weighted assets)                          24,354        14.88%        6,548           4.0%            9,822        6.0%


Tier 1(core) capital
(to adjusted total assets)                         24,354         9.47%       10,291           4.0%           12,864        5.0%

Tier 1 (core) capital
(to average assets)                                24,354         9.53%       10,217           4.0%           12,772        5.0%
</TABLE>

                                       7
<PAGE>

                         NORTHEAST INDIANA BANCORP, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
                              RESULTS OF OPERATIONS

GENERAL

Northeast Indiana Bancorp,  Inc.  ("Northeast  Indiana Bancorp") was formed as a
Delaware corporation in March, 1995, for the purpose of issuing common stock and
owning all the common stock of First Federal Savings Bank ("First Federal") as a
unitary thrift  holding  company.  Prior to the  conversion,  Northeast  Indiana
Bancorp did not engage in any material  operations and at March 31, 2000, had no
significant  assets  other than the  investment  in the  capital  stock of First
Federal and cash and cash equivalents.

The  principal  business  of  savings  banks,   including  First  Federal,   has
historically consisted of attracting deposits from the general public and making
loans secured by residential real estate. First Federal's earnings are primarily
dependent on net interest  income,  the difference  between  interest income and
interest  expense.  Interest  income is a function of the  balances of loans and
investments  outstanding  during the period and the yield earned on such assets.
Interest  expense is the function of the  balances of deposits  and  borrowings.
First  Federal's  earnings  are also  affected by  provisions  for loan  losses,
service charge and fee income, and other non-interest income, operating expenses
and income taxes.  Operating expenses consist primarily of employee compensation
and benefits, occupancy and equipment expenses, data processing, federal deposit
insurance premiums and other general administrative expenses.

The most significant outside factors influencing the operations of First Federal
Savings Bank and other savings institutions include general economic conditions,
competition in the local market place and related  monetary and fiscal  policies
of agencies that regulate financial institutions. More specifically, the cost of
funds is  influenced  by interest  rates on  competing  investments  and general
market rates of interest.  Lending  activities  are influenced by the demand for
real estate financing and other types of loans, which in turn is affected by the
interest  rates at which such loans may be offered and other  factors  affecting
loan demand and funds availability.

TRUST AND FINANCIAL SERVICES

During the year of 1998,  First Federal  established a trust  department,  which
began  operations  in the fourth  quarter.  At the end of March 31, 2000,  $20.4
million was held under asset  management.  In February 1999,  Northeast  Indiana
Bancorp  announced the  establishment of Northeast  Indiana  Financial,  Inc., a
wholly owned  subsidiary of First Federal.  Northeast  Indiana  Financial,  Inc.
provides  brokerage  services  through the purchase of mutual funds,  annuities,
stocks and bonds for its customers. Until these operations are well established,
management expects a slight negative impact to net income.


                                      8
<PAGE>
                        NORTHEAST INDIANA BANCORP, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
                              RESULTS OF OPERATIONS

FINANCIAL CONDITION

Northeast  Indiana  Bancorp's total assets  increased $2.0 million or 0.79% from
$254.7  million at December 31, 1999 to $256.7  million at March 31, 2000.  This
increase was due primarily to funds generated from increased  borrowings of $3.2
million net of decreased deposits of $1.7 million.

Net loans receivable increased $668,000 or 0.32% from $208.4 million at December
31, 1999 to $209.1  million at March 31, 2000.  The increase in loans during the
first three months of 2000 was in mortgage  loan  products  which  accounted for
$728,000 of the increase  along with a $798,000  increase in commercial  lending
and  $748,000  decrease  in  consumer  lending.  This  growth was because of the
generally  favorable  market  conditions.  Allowances for loan losses  increased
approximately  $110,000  through the three  months  ended March 31,  2000.  This
increase was to provide a general allowance for the increases in non-residential
real estate,  commercial  and credit cards loans.  The allowance of $1.9 million
includes  $714,000 of specific reserves for loans or partial loans classified as
substandard.

INVESTMENTS

Securities available-for-sale remained unchanged at $33.2 million for the period
December 31, 1999 to March 31, 2000.  Investments of $5.1 million were purchased
to  replenish  the $5.1  million  of calls,  payments,  maturities  and sales of
investments.

RESULTS OF OPERATIONS

Northeast  Indiana Bancorp had net income of $519,000 or $0.32 per diluted share
for the three  months  ended  March 31,  2000  compared to $581,000 or $0.34 per
diluted share for the three months ended March 31, 1999. Note that all per share
earnings have been  restated to reflect the 10% stock  dividend paid on November
22, 1999.

Net  interest  income  remained  unchanged  at $1.9 million for the three months
ended March 31, 2000  compared to $1.9  million for the three months ended March
31, 1999.  Interest income increased $791,000 to $4.8 million for March 31, 2000
compared to $4.1  million for March 31,  1999.  For the first  quarter  interest
expense increased  $747,000 to $2.9 million for the quarter ended March 31, 2000
compared to $2.2 million March 31, 1999.


                                      9
<PAGE>
                        NORTHEAST INDIANA BANCORP, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
                              RESULTS OF OPERATIONS


RESULTS OF OPERATIONS (CONTINUED)

Provisions for loan losses increased by $91,000 for the three months ended March
31, 2000  compared  to the same  period  ended  March 31,  1999.  The  increases
provisions  are  discussed  in more detail under the  non-performing  assets and
allowance for loan loss section.

Non-interest  income  increased to $229,000 for the three months ended March 31,
2000 compared to $189,000 for the comparable  period in 1999. This represents an
increase of $40,000 or 21.2% for the three  months  ended March 31,  2000.  This
increase is from service fees on deposits and other income  including fee income
from Trust and Financial Services and insurance.

Non-interest  expense increased to $1.2 million for the three months ended March
31, 2000  compared to $1.0 million for the  corresponding  period in 1999.  This
represents  an increase of $200,000  for the three  months ended March 31, 2000.
This  increase is due  partially  to higher  salaries  and  benefits  reflecting
increases in  compensation  for 2000 and additional  employees  added to support
customer service as we grow. Data processing  expense has increased  $17,000 for
the three  months ended March 31, 2000 due to software  upgrades  and  increased
processing volume and fees.

Income tax expense  decreased  for the three  months ended March 31, 2000 due to
lower  taxable  income  compared to 1999 and an increase  in the  available  tax
credits from the Northeast Indiana Bancorp's  investment in a low income housing
project.

NON-PERFORMING ASSETS AND ALLOWANCE FOR LOAN LOSSES

The allowance for loan losses is established through a provision for loan losses
based on management's  quarterly asset  classification  review and evaluation of
the risk inherent in its loan  portfolio and changes in the nature and volume of
its loan activity.  Such  evaluation,  which considers among other matters,  the
estimated value of the underlying  collateral,  economic  conditions,  cash flow
analysis,  historical  loan loss  experience,  discussion  held with  delinquent
borrowers  and other  factors  that  warrant  recognition  in  providing  for an
adequate allowance for loan loss. As a result of this review process, management
recorded  provisions  for loan  losses in the amount of  $191,000  for the three
months ended March 31, 2000 compared to $100,000 for the same period ended March
31, 1999. The current provision for the first quarter is anticipated to continue
for the second  quarter  2000 as we  continue to  recognize  the need for higher
allowances due to the higher risks associated with commercial and consumer loans
and the specific reserves set up for several classified loans.

NON-PERFORMING ASSETS AND ALLOWANCE FOR LOAN LOSSES (CONTINUED)

The non-performing assets to total assets ratio is one indicator of the exposure
to  credit  risk.   Non-performing  assets  of  First  Federal  consist  of  the
non-accruing loans,  troubled debt restructuring and real estate owned which has


                                      10
<PAGE>
                        NORTHEAST INDIANA BANCORP, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
                              RESULTS OF OPERATIONS


been  acquired  as a result  of  foreclosure  or  insubstance  foreclosure.  The
following table summarizes in thousands the various categories of non-performing
assets:
<TABLE>
<CAPTION>
                                                         March 31       December 31
                                                            2000            1999
                                                            ----            ----
<S>                                                      <C>              <C>
             Non-performing loans
                One-to-four-family                       $     342        $      339
                Multi-family                                    23                22
                Commercial real estate                           -               247
                Construction or development                    693               683
                Consumer                                       463               186
                Commercial Business                            354               233
                                                         ---------        ----------
                   Total                                     1,875             1,710
                                                         ---------        ----------
             Foreclosed assets

                One-to-four-family                              78                49
                Commercial                                       -                 -
                                                         ---------        ----------
                   Total                                        78                49
                                                         ---------        ----------
             Repossessed Assets
                Consumer                                        51                14
                                                         ---------        ----------
                   Total                                        51                14
                                                         ---------        ----------

                   Total non-performing assets               2,004             1,773
                                                         =========        ==========
                   Total non-performing assets as a
                       percentage of total assets             0.78%             0.70%
                                                         =========        ==========
</TABLE>
Total non-performing assets increased from $1.8 million to $2.0 million or 0.78%
of total  assets at March 31, 2000 from 0.70% of total  assets at  December  31,
1999.

LIQUIDITY AND CAPITAL RESOURCES

First Federal is required to maintain  specific  amounts of  regulatory  capital
pursuant to regulations of the Office of Thrift Supervision (OTS). Those capital
requirements  follow: a risk-based  capital  standard  expressed as a percent of
risk adjusted  assets,  a leverage ratio of core capital to total assets,  and a
core capital ratio expressed

                                       11

<PAGE>
                        NORTHEAST INDIANA BANCORP, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
                              RESULTS OF OPERATIONS


LIQUIDITY AND CAPITAL RESOURCES (CONTINUED)

as a percent of total adjusted assets. At March 31, 2000, First Federal exceeded
all regulatory capital standards.

At March 31,  2000,  First  Federal's  risk based  capital was $25.5  million or
15.59% of risk adjusted assets, which exceeds the $13.1 million and the 8.0% OTS
requirement  by $12.4 million and 7.59%.  First  Federal's core capital at March
31, 2000 is $24.4 million or 9.47%,  which exceeds the OTS  requirement of $10.3
million,  and 4.00% by $14.1 million and 5.47%.

First Federal's primary sources of funds are deposits, FHLB advances,  principal
and interest payments of loans,  operations  income and short-term  investments.
Deposit flows and mortgage  payments are greatly  influenced by general interest
rates, economic conditions and competition.

Current OTS  regulations  require that First Federal  maintain cash and eligible
investments  in an amount equal to at least 4% of its average  daily  balance of
net withdrawable  customer deposit accounts and short-term  borrowings to assure
its  ability  to meet  demands  for  withdrawals  and  repayment  of  short-term
borrowings.  As of March 31, 2000,  First Federal's  liquidity ratio was 11.70%,
which is in excess of the minimum regulatory requirements.

First  Federal  uses its  capital  resources  principally  to meet  its  ongoing
commitments  to fund  maturing  certificates  of deposit  and loan  commitments,
maintain its liquidity, and meet operating expenses. As of March 31, 2000, First
Federal  had  commitments  to  originate  loans and to fund open lines of credit
totaling  $23.2  million.  First  Federal  considers  its  liquidity and capital
resources  to be adequate to meet its  foreseeable  short and  long-term  needs.
First Federal  expects to be able to fund or refinance,  on a timely basis,  its
material commitments and long-term liabilities.

First Federal,  however,  has grown substantially for the last several years and
therefore our liquidity position has tightened as we have leveraged our capital.
First  Federal  now expects  asset  growth to slow as rates  increase  therefore
reducing loan demand.

FORWARD-LOOKING STATEMENTS

When used in this filing and in future filings by Northeast Indiana Bancorp with
the Securities and Exchange  Commission,  in Northeast  Indiana  Bancorp's press
releases or other public or shareholder  communications,  or in oral  statements
made with the

                                      12
<PAGE>
                        NORTHEAST INDIANA BANCORP, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
                              RESULTS OF OPERATIONS


FORWARD-LOOKING STATEMENTS (CONTINUED)

approval of an authorized  executive  officer,  the words or phrases "would be,"
"will  allow,"  "intends  to," "will likely  result,"  "are  expected to," "will
continue," "is anticipated,"  "estimate,"  "project" or similar  expressions are
intended  to  identify  "forward-looking  statements"  within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are subject to
risks and  uncertainties,  including  but not  limited to  changes  in  economic
conditions in Northeast  Indiana  Bancorp's market area,  changes in policies by
regulatory  agencies,  fluctuations  in  interest  rates,  demand  for  loans in
Northeast  Indiana  Bancorp's market area and competition,  all or some of which
could cause actual results to differ  materially  from  historical  earnings and
those presently anticipated or projected.

Northeast  Indiana Bancorp wishes to caution readers not to place undue reliance
on any such  forward-looking  statements,  which speak only as of the date made,
and advises  readers  that  various  factors,  including  regional  and national
economic  conditions,  substantial  changes in levels of market  interest rates,
credit and other risks of lending and investment  activities and competitive and
regulatory   factors,   could  affect  Northeast  Indiana  Bancorp's   financial
performance  and could cause  Northeast  Indiana  Bancorp's  actual  results for
future periods to differ materially from those anticipated or projected.

Northeast  Indiana Bancorp does not undertake,  and  specifically  disclaims any
obligation,  to update any forward-looking  statements to reflect occurrences or
unanticipated events or circumstances after the date of such statements.

                                       13
<PAGE>

                         NORTHEAST INDIANA BANCORP, INC.
                                     PART II
                                Other Information

ITEM 1 - LEGAL PROCEEDING

               Northeast  Indiana  Bancorp and First  Federal are involved  from
               time to time,  as plaintiff or defendant in various legal actions
               arising  from the normal  course of their  businesses.  While the
               ultimate  outcome of these  proceedings  cannot be predicted with
               certainty, it is the opinion of management that the resolution of
               these proceedings  should not have a material effect on Northeast
               Indiana Bancorp's results of operations on a consolidated basis.

ITEM 2 - CHANGES IN SECURITIES
               None

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES
               None

ITEM 4    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDER

          (a) The Annual Meeting of  Shareholders  ("the  meeting") of Northeast
              Indiana  Bancorp,  Inc.  was held on April 19,  2000.  The matters
              approved  by  shareholders  at the meeting and the number of votes
              cast  for,   against  or  withheld  (as  well  as  the  number  of
              abstentions) as to each matter are set forth below:

              (1) The election of the following directors for a three year term:

                                                    Votes
                                                    -----
                                           For                Withheld
                                           ---                --------

               Michael S. Zahn           1,279,678            32,979
               Randall C. Rider          1,281,594            31,063

              (2) Ratification of Crowe,  Chizek and Company LLP as auditors for
                  the year ending December 31, 2000:


                                         Votes
                                         -----

                   For                  Against                 Withheld
                   ---                  -------                 --------

                1,283,898               18,161                   10,598



                                       14
<PAGE>

                         NORTHEAST INDIANA BANCORP, INC.
                                     PART II
                                Other Information
                                    Continued


ITEM 5 - OTHER INFORMATION
               None


ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K
(a)            Exhibits
                      None

               (b) Reports on Form 8-K

                 (1) January 18, 2000 Announcing Fourth Quarter Earnings

                 (2) January 26, 2000 Announcing Cash Dividends

                 (3) April 21,  2000  Announcing  First  Quarter  Earnings, Cash
                     Dividends and Annual Meeting Results


                                       15
<PAGE>
                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act  of  1934  the
Registrant  has duly  caused  this  Report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                           NORTHEAST INDIANA BANCORP, INC.


 Date:  May 15, 2000                 By:   /S/ Stephen E. Zahn
                                           -------------------
                                           STEPHEN E. ZAHN
                                           President and Chief Executive Officer
                                           (Duly Authorized Officer)


 Date:  May 15, 2000                 By:   /S/  Darrell E. Blocker
                                           -----------------------
                                           DARRELL E. BLOCKER
                                           Senior Vice President and
                                           Chief Financial Officer
                                           (Principal Financial Officer)


                                       16