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 September 30, 1999

         [  ]     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 NOVEMBER 9, 1999
-------------------------------------------------------------------------------
Common Stock, par value $.01 per share              approximately 1,774,137


         Transitional Small Business Disclosure Format:  YES [ ]  NO [X]
<PAGE>

              NORTHEAST INDIANA BANCORP, INC.

                           INDEX

  PART 1.    FINANCIAL INFORMATION (UNAUDITED)                         PAGE NO.

  Item 1.    Consolidated Condensed Financial Statements

             Consolidated Condensed Balance Sheets

             September 30, 1999 and December 31, 1998                       1

             Consolidated Condensed Statements of Income for the

              three and nine months ended September 30, 1999 and 1998       2

             Consolidated Statement of Change in Shareholders' Equity

             for the nine months ended September 30, 1999                   3

             Consolidated Statements of Cash Flows for the nine

             months ended September 30, 1999 and 1998                       4

             Notes to Consolidated Condensed Financial Statements           5


  Item 2.    Management's Discussion and Analysis of Financial

             Condition and Results of Operations                            9

  PART II.   OTHER INFORMATION                                             18

             Signature page                                                20


<PAGE>
<TABLE>
<CAPTION>
                                   NORTHEAST INDIANA BANCORP, INC.
                                CONDENSED CONSOLIDATED BALANCE SHEETS
                              September 30, 1999 And December 31, 1998


                                                                     September 30,       December 31,
                                                                         1999                1998
                                                                     -------------      -------------
                                                                       (Unaudited)

<S>                                                                  <C>                <C>
ASSETS
Interest earning cash and cash equivalents                           $   2,756,013      $   4,079,792
Noninterest earning cash and cash equivalents                            2,574,862          2,215,845
                                                                     -------------      -------------
     Total Cash and cash equivalents                                     5,330,875          6,295,637
Interest-earning deposits in financial institutions                        100,000            100,000
Securities available for sale                                           33,542,763         13,658,691
Securities held to maturity (fair value: September
 30, 1999- $456,755; December 31, 1998 - $528,424)                         456,754            528,424
Loans receivable, net of allowance for loan losses September 30,
1999 $1,561,176 and December 31, 1998 $1,454,000                       199,901,474        185,906,309
Other real estate owned                                                          -            110,712
Accrued interest receivable                                                910,952            487,393
Premises and equipment                                                   2,309,473          2,265,347
Investments in limited liability partnerships                            1,349,096          1,400,000
Other assets                                                             1,259,315          1,672,079
                                                                     -------------      -------------
     Total assets                                                    $ 245,160,702      $ 212,424,592
                                                                     =============      =============

LIABILITIES AND SHAREHOLDERS' EQUITY
Demand deposits                                                      $   3,957,623      $   3,058,581
Savings                                                                  9,808,298          9,811,696
NOW and MMDDA                                                           33,474,762         31,354,647
Other time deposits                                                     73,073,108         79,110,658
                                                                     -------------      -------------
     Total deposits                                                    120,313,791        123,335,582
Borrowed funds                                                          98,493,933         63,080,275
Accrued expenses and other liabilities                                     653,135          1,004,099
                                                                     -------------      -------------
     Total liabilities                                               $ 219,460,859      $ 187,419,956
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S>                                                                  <C>                <C>
Shareholders' equity
     Preferred Stock 500,000 shares authorized; 0 shares issued                  -                  -
     Common stock, $.01 par value: 4,000,000 shares
      authorized; 2,640,518 and 2,400,466 shares issued at
           September 30, 1999 and December 31,1998                          26,405             24,005
     Additional paid in capital                                         28,693,264         25,128,717
     Retained earnings, substantially restricted                        10,168,345         12,166,794
     Unearned employee stock ownership plan shares                      (1,091,063)        (1,163,800)
     Unearned recognition and retention plan shares                       (282,822)          (433,672)
     Net unrealized appreciation on securities available
       for sale                                                           (282,901)            44,105
     Treasury stock, 855,381 and 728,049 common shares, at
       cost, at September 30, 1999 and December 31, 1998               (11,531,385)       (10,761,513)
                                                                      -------------      -------------
         Total shareholders' equity                                     25,699,843         25,004,636
                                                                     -------------      -------------
              Total liabilities and shareholders' equity             $ 245,160,702      $ 212,424,592
                                                                     =============      =============
</TABLE>
                  The accompanyinbg notes are an integral part
                   of these consolidatd financial statements.



                                                 1
<PAGE>
<TABLE>
<CAPTION>
                                        NORTHEAST INDIANA BANCORP, INC.
                                       CONSOLIDATED STATEMENTS OF INCOME
                                Three and nine months ended September 30, 1999


                                                    Three months ended                Nine months ended
                                                      September 30,                     September 30,
                                                   1999            1998             1999             1998
                                               -----------      -----------      -----------      -----------
                                                                        (Unaudited)
<S>                                            <C>              <C>              <C>              <C>
Interest income
   Loans, including fees                       $ 3,981,230      $ 3,725,141      $11,630,809      $11,075,468
   Taxable securities                              546,527          262,995        1,122,277          779,961
   Non-taxable securities                            6,227            4,819           19,077           14,973
   Deposits with banks                              36,703           60,041          129,810          174,471
                                               -----------      -----------      -----------      -----------
     Total interest income                       4,570,687        4,052,996       12,901,973       12,044,873

Interest expense
   Deposits                                      1,315,487        1,532,625        3,977,206        4,425,234
   Borrowed funds                                1,253,615          765,646        3,074,894        2,337,616
                                               -----------      -----------      -----------      -----------
     Total interest expense                      2,569,102        2,298,271        7,052,100        6,762,850

Net interest income                              2,001,585        1,754,725        5,849,873        5,282,023
Provision for loan losses                           46,500           90,000          181,500          270,000
                                               -----------      -----------      -----------      -----------

Net interest income after provision
  for loan losses                                1,955,085        1,664,725        5,688,373        5,012,023

Noninterest income
   Service charges on deposit accounts              84,433           76,433          248,512          213,949
   Loan servicing fees                              56,172           57,106          182,188          183,149
   Net realized gain on sale of securities               -                -                -                -
   Other                                            72,995           53,465          180,360          129,445
                                               -----------      -----------      -----------      -----------
     Total noninterest income                  $   213,600      $   187,004      $   611,060      $   526,543
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S>                                            <C>              <C>              <C>              <C>
Noninterest expense
   Salaries and employee benefits                  559,510          461,440        1,609,071        1,361,466
   Occupancy                                       103,010           87,699          298,672          261,826
   Data processing                                 135,275          104,972          397,261          317,741
   Insurance expense                                17,862           18,124           55,728           49,823
   Professional fees                                32,162           30,956          106,599          112,926
   Correspondent bank charges                       56,598           52,763          165,726          153,099
   Other expense                                   162,259          147,048          494,335          480,004
                                               -----------      -----------      -----------      -----------
     Total noninterest expense                 $ 1,066,676      $   903,002        3,127,392        2,736,885
Income before income taxes                       1,102,009          948,727        3,152,041        2,801,681
   Income tax expense                              429,815          362,551        1,208,782        1,085,274
                                               -----------      -----------      -----------      -----------

Net income                                     $   672,194      $   586,176      $ 1,943,259      $ 1,716,407
                                               ===========      ===========      ===========      ===========

Basic earnings per common share                $      0.42      $      0.34      $      1.19      $      0.96
Diluted earnings per common share              $      0.41      $      0.34      $      1.15      $      0.91
Return on average assets                              1.11%            1.14%            1.15%            1.13%
Return on average equity                             10.51%            9.11%           10.19%            8.63%
Equity to assets                                     11.58%           12.57%           11.23%           13.10%

</TABLE>
                 See accompanying notes to financial statements

                                        2
<PAGE>
<TABLE>
<CAPTION>
                                                  NORTHEAST INDIANA BANCORP, INC.
                                     CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY
                                               Nine months ended September 30, 1999
                                                            (Unaudited)

                                                                                                    Unearned            Unearned
                                                                                                    Employee          Recognition
                                                                     Additional                       Stock               And
                                                         Common       Paid-in        Retained       Ownership          Retention
                                                         Stock        Capital        Earnings       Plan Shares       Plan Shares
                                                         -----        -------        --------       -----------       -----------
<S>                                                      <C>         <C>            <C>           <C>                  <C>
Balance, December  31, 1998                              24,005      25,128,717     12,166,794    (1,163,800)          (433,672)

Net Income September 30, 1999                                                        1,943,259

Other Comprehensive income:

   Unrealized gains on securities
   Total tax effect


     Total other comprehensive income


Comprehensive income

Dividends Paid $.25 per share year to date                                            (445,831)

Purchase of 57,420 shares of Treasury Stock

Sale of 2,343 shares of Treasury Stock                                  (3,151)

Shares committed to be released under  ESOP                              72,238                       72,737

Purchase of 550 shares for RRP                                            1,983                                          (8,063)

Amortization of RRP Contributions                                                                                        158,913
Issuance of 240,052 common shares from
declaration of 10% Stock Dividend                         2,400       3,493,477     (3,495,877)
                                                         ------      ----------     ----------    ----------           --------
Balance at September 30, 1999                            26,405      28,693,264     10,168,345    (1,091,063)          (282,822)
                                                         ======      ==========     ==========    ==========           ========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                                                 Net
                                                              Unrealized
                                                             Appreciation
                                                             On Securities                          Total
                                                              Available-         Treasury        Shareholders'
                                                              For-Sale            Stock            Equity
                                                              --------            -----            ------
<S>                                                           <C>             <C>                <C>
Balance, December  31, 1998                                       44,105     (10,761,513)         25,004,636

Net Income September 30, 1999                                                                      1,943,259

Other Comprehensive income:

   Unrealized gains on securities                              (640,685)
   Total tax effect                                              313,679

                                                               --------
     Total other comprehensive income                          (327,006)                           (327,006)
                                                                                           ------------------

Comprehensive income                                                                               1,749,333

Dividends Paid $.25 per share year to date                                                          (445,831)

Purchase of 57,420 shares of Treasury Stock                                     (801,850)          (801,850)

Sale of 2,343 shares of Treasury Stock                                            25,898             22,747

Shares committed to be released under  ESOP                                                         144,975

Purchase of 550 shares for RRP                                                     6,080                  -

Amortization of RRP Contributions                                                                    158,913
Issuance of 240,052 common shares from
declaration of 10% Stock Dividend                                                                          -
                                                               --------      -----------          ----------
Balance at September 30, 1999                                  (282,901)     (11,531,385)         25,699,843
                                                               ========      ===========          ==========

</TABLE>
                 See accompanying notes to financial statements

                                       3
<PAGE>
<TABLE>
<CAPTION>
                                 NORTHEAST INDIANA BANCORP, INC.
                              CONSOLIDATED STATEMENTS OF CASH FLOWS
                          Nine months ended September 30, 1999 and 1998

                                                                       Nine months ended
                                                                          September 30,
                                                                      1999               1998
                                                                  ------------      ------------
                                                                            (Unaudited)
<S>                                                               <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Net income                                                   $  1,943,259      $  1,716,407
     Adjustments to reconcile net income
       to net cash from operating activities
         Net (gain) loss on sale of premises and equipment                 (50)           (8,500)
         Gain on sale of securities                                          -                 -
         Net (gain) loss on sale of foreclosed real estate              10,595           (10,091)
         Provision for loan losses                                     181,500           270,000
         Depreciation and amortization                                 169,949           129,199
         Reduction of obligation under ESOP                            144,975           187,404
         Amortization of RRP                                           158,913           157,258
         Net change in:
              Other assets                                             586,530           249,729
              Accrued interest receivable                             (423,559)           83,321
              Accrued expenses and other liabilities                  (165,486)         (322,328)
                                                                  ------------      ------------
              Total adjustments                                        663,367           735,992
                                                                  ------------      ------------
                      Net cash from operating activities             2,606,626         2,452,399

Cash flows from investing activities
     Proceeds from maturities and principal payments
       of securities held to maturity                                   71,670           228,115
     Proceeds from maturities and principal payments
       of securities available for sale                              4,403,886         5,618,549
     Proceeds from sale of securities available for sale                     -                 -
     Purchases of securities available for sale                    (24,792,089)       (4,091,337)
     Proceeds from sale of loans                                             -                 -
     Purchases of loans                                                      -                 -
     Proceeds from sale of participation loans                          46,051         2,430,541
     Purchase of participation loans                                         -        (1,461,519)
     Net change in loans                                           (14,435,743)       (9,150,763)
     Expenditures on premises and equipment                           (202,407)         (304,819)
     Proceeds from sale of premises and equipment                           50             8,500
     Proceeds from sale of foreclosed real estate                      170,261           177,750
                                                                  ------------      ------------
         Net cash from investing activities                        (34,738,321)       (6,544,983)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S>                                                               <C>               <C>
Cash flows from financing activities
     Advances from FHLB                                             79,000,000        42,000,000
     Repayment of FHLB advances                                    (47,599,227)      (51,399,227)
     Payments of demand notes                                         (576,250)         (337,500)
     Net change in other borrowed funds                              4,589,135           184,963
     Dividends paid                                                   (445,831)         (425,671)
     Purchase of stock                                                (801,850)       (4,566,147)
     Sale of treasury stock                                             22,747           183,300
     Net change in deposits                                         (3,021,791)       22,428,742
                                                                  ------------      ------------
         Net cash from financing activities                         31,166,933         8,068,460
                                                                  ------------      ------------

Net change in cash and cash equivalents                               (964,762)        3,975,876

Cash and cash equivalents at beginning of year                       6,295,637         4,819,686
                                                                  ------------      ------------

Cash and cash equivalents at end of year                          $  5,330,875      $  8,795,562
                                                                  ============      ============

Cash paid for:
     Interest                                                     $  6,988,115      $  6,806,133
     Income taxes                                                    1,039,800         1,259,000

Non-cash transactions:
     Investment in obligation relative to limited partnership     $          -      $          -
     Transfer from loans to other real estate                           70,144           167,659
</TABLE>
                 See accompanying notes to financial statements


                                        4
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
             Three and nine months ended September 30, 1999 and 1998

NOTE 1 - BASIS OF PRESENTATION

The unaudited information for the three and nine months ended September 30, 1999
and 1998 includes the results of operations of Northeast  Indiana Bancorp,  Inc.
(the  "Company") and its  wholly-owned  subsidiary,  First Federal  Savings Bank
("First  Federal"  or the  "Bank") and its wholly  owned  subsidiary,  Northeast
Indiana Financial,  Inc. 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 and nine month
periods reported but should not be considered as indicative of the results to be
expected for the full year.

For fiscal years  beginning  after  December 15, 1997 the  Financial  Accounting
Standards  Board (FASB) issued its Statement of Financial  Accounting  Standards
(SFAS) #130 on reporting  comprehensive  income.  Comprehensive  income includes
both net income and other comprehensive  income. Other comprehensive income will
include the change in unrealized  gains and losses on  securities  available for
sale, foreign currency translation  adjustments,  and additional minimum pension
liability  adjustments when  applicable.  The financial  statements  reflect the
adoption of SFAS #130.

NOTE 2 - CONVERSION

First  Federal  completed a conversion  from a mutual to a stock savings bank on
June  27,  1995.  Simultaneous  with the  conversion  was the  formation  of the
Company,  incorporated in the state of Delaware.  The initial issuance of shares
of common stock in the Company on June 27, 1995 was 2,182,125  shares at $10 per
share (restated as of November 22, 1999;  2,640,518  shares at $8.26 per share),
resulting  in net  proceeds  of  $21,210,857,  and was  accomplished  through an
offering to the Bank's eligible  account holders of record and the tax qualified
employee stock  ownership plan.  Costs  associated with the conversion and stock
offering  amounted to  $610,393,  and were  accounted  for as a reduction of the
proceeds from the issuance of common stock of the Company. The Company purchased
all common  shares  issued by the Bank.  This  transaction  was accounted for at
historical cost in a manner similar to the pooling of interests method.

Federal regulations require that, upon conversion from a mutual to stock form of
ownership,  a  "liquidation  account" be established by restricting a portion of
net worth for the benefit of eligible savings account holders who maintain their
savings  accounts  with the Bank  after  conversion.  In the  event of  complete
liquidation (and only in such event),  each savings account holder who continues
to maintain his savings account shall be entitled to receive a distribution from
the liquidation  account after payment to all creditors,  but before liquidation
distribution  with respect to capital stock. This account will be proportionally
reduced for any subsequent reduction in eligible holder's savings accounts.

                                   (Continued)

                                       5
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
             Three and nine months ended September 30, 1999 and 1998

NOTE 2 - CONVERSION (Continued)

Federal  regulations  impose  limitations  on the payment of dividends and other
capital  distributions,  including,  among  others,  that First  Federal may not
declare or pay cash  dividends on any of its stock if the effect  thereof  would
cause the  Bank's  capital  to be  reduced  below the  amount  required  for the
liquidation  account  or the  capital  requirements  imposed  by  the  Financial
Institutions  Reform  Recover and  Enforcement  Act  (FIRREA)  and the Office of
Thrift Supervision (the "OTS").

NOTE 3 - EMPLOYEE STOCK OWNERSHIP PLAN

The Company has  established an employee stock  ownership plan ("ESOP").  At the
date of conversion  described in Note 2, the ESOP  purchased  210,925  shares of
common stock of the Company which was financed by the Company 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 the
Bank 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  January  1,  1999,   70,105  shares  have  been   distributed  to  the  plan
participants.

NOTE 4 - EARNINGS PER SHARE

Basic earnings per share is based on weighted-average common shares outstanding.
Diluted  earnings per share  further  assumes  issue of any  dilutive  potential
common  shares.  The  accounting  standard for computing  earnings per share was
revised for 1998, and all earnings per shares  previously  reported are restated
to follow the new standard. 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           Nine months ended
                                                                ------------------           -----------------
                                                                   September 30,                September 30,
                                                               1999          1998           1999            1998
                                                           ----------     ----------     ----------     ----------
<S>                                                        <C>            <C>            <C>            <C>
EARNINGS PER SHARE
  Net Income available to common shareholders              $  672,194     $  586,176     $1,943,259     $1,716,407
  Weighted average common shares outstanding                1,619,144      1,717,096      1,634,308      1,789,809
     Basic Earnings Per Share                              $     0.42     $     0.34     $     1.19     $     0.96

Earnings Per Share Assuming Dilution
   Net Income available to common shareholders             $  672,194     $  586,176     $1,943,259     $1,716,407
   Weighted average common shares outstanding               1,619,144      1,717,096      1,634,308      1,789,809
   Add: dilutive effects of assumed exercises of
             incentive stock options and non qualified
             stock options                                     19,414         28,180         60,471         92,224
   Weighted average and dilutive common shares
      Outstanding                                           1,638,558      1,745,276      1,694,779      1,882,033
       Diluted earnings per share                          $     0.41     $     0.34     $     1.15     $     0.91
</TABLE>
                                   (Continued)
                                       6
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
             Three and nine months ended September 30, 1999 and 1998

NOTE 5 - COMMON STOCK DIVIDENDS

On October 26, 1999 the Board of Directors of Northeast  Indiana  Bancorp,  Inc.
announced a quarterly cash dividend of $.10 per share. This increase  represents
an effective increase of 22% after the 10% stock dividend increase. The dividend
will be paid on November 22, 1999 to shareholders of record on November 8, 1999.
The  payment of the cash  dividend  will  reduce  shareholders'  equity  (fourth
quarter) by approximately $178,000.

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 were rounded up to the next whole share.

NOTE 6 - STOCK REPURCHASE PLAN

On June 29,  1999 the  Company  announced  a new  stock  repurchase  program  to
repurchase  up to 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 November 9, 1999,  27,500 shares (adjusted for the 10% dividend) have been
repurchased.  There were also 770 shares repurchased from exercised options year
to date through November 09, 1999.

NOTE 7 - 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 September 30, 1999,  the capital  requirements  for the Bank under federal
regulatory  agencies and the Bank's actual capital  ratios.  As of September 30,
1999, the Bank substantially exceeded all current regulatory capital standards.
<TABLE>
<CAPTION>
                                 Regulatory
                              Capital Requirement           Actual Capital
                           ----------------------     --------------------------
                           Amount         Percent     Amount             Percent
                           ------         -------     ------             -------
                                         (Dollars in thousands)
<S>                      <C>              <C>           <C>            <C>
Risk-based capital       $ 12,464         8.0 %         $ 24,695       15.85 %
Core capital             $  9,833         4.0 %         $ 23,242        9.46 %
Tangible capital         $  4,916         2.0 %         $ 23,242        9.46 %
</TABLE>

                                   (Continued)

                                       7
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
             Three and nine months ended September 30, 1999 and 1998

NOTE 8 - RECLASSIFICATIONS

Certain  amounts  in  the  1998  consolidated  financial  statements  have  been
reclassified to conform to the 1999 presentation.













                                       8
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
           MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                             AND OPERATING RESULTS

GENERAL

Northeast  Indiana  Bancorp,  Inc.  (the  "Company")  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" or the
"Bank")  as a unitary  thrift  holding  company.  Prior to the  conversion,  the
Company did not engage in any material operations and at September 30, 1999, 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.  The Bank'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. The
Bank'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/FINANCIAL SERVICES

During the year of 1998,  First  Federal  established a trust  department  which
began  operations in the fourth  quarter 1998. At the end of September 30, 1999,
approximately  $8.6  million  in Trust  Assets  were held under  management.  In
February  1999, the Company  announced the  establishment  of Northeast  Indiana
Financial,  Inc.,  a  wholly-owned  subsidiary  of the Bank.  Northeast  Indiana
Financial,  Inc. will provide 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.

                                  (Continued)

                                       9
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
         MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                               OPERATING RESULTS


FINANCIAL CONDITION

The Company's total assets increased $32.8 million or 15.44% from $212.4 million
at December 31, 1998 to $245.2 million at September 30, 1999.  This increase was
due  primarily to funds  generated  from  increased  borrowings of $35.4 million
offset by  decreased  deposits of $3.0  million.  In  addition  to asset  growth
through  the  first  nine  months  of 1999 the  company  purchased  3.13% of the
outstanding shares to fund Treasury Stock which reduced our capital $802,000.

Net loans  receivable  increased  $14.0 million or 7.53% from $185.9  million at
December 31, 1998 to $199.9 million at September 30, 1999. The increase in loans
during the first nine months of 1999 was predominantly in mortgage loan products
which  accounted  for $9.9  million of the  increase  along with a $5.6  million
increase in consumer lending and $111,000 increase in commercial  lending.  This
growth was because of the generally favorable market conditions.  Allowances for
loan losses  increased  approximately  $107,000  through  the nine months  ended
September  30, 1999.  This  increase  was to provide a general  increase for the
higher loan amounts and the  additional  loans secured by  non-residential  real
estate,  commercial and credit cards.  These  allowances of $1.6 million include
$159,000  of  specific  reserves  for  loans  or  partial  loans  classified  as
substandard in the amount of $2.1 million.

INVESTMENTS

Securities  available-for-sale  increased  $19.8  million from $13.7  million at
December 31, 1998 to $34.1 million at September 30, 1999.  The  securities  were
purchased  to  provide  collateral  for  growth  in our  securities  sold  under
repurchase agreements.

RESULTS OF OPERATIONS

The Company had net income of $672,000 or basic and diluted  earnings  per share
of $0.42 and $0.41 for the three months  ended  September  30, 1999  compared to
$586,000  or basic  and  diluted  earnings  per  share of $0.34  each or a 22.5%
increase  over the third  quarter  1998.  Net income for the nine  months  ended
September  30, 1999 of $1.9  million or basic and diluted  earnings per share of
$1.19 and $1.15 compared to $0.96 and $0.91 a 24% increase over the earnings per
share for the nine months  ended  September  30,  1998.  Note that all per share
earnings  have been  restated  to reflect  the 10% stock  dividend to be paid on
November 22, 1999.

Net  interest  income  increased  to $2.0  million  for the three  months  ended
September 30, 1999 compared to $1.8 million for the three months ended September
30, 1998.  Net interest  income  increased to $5.8 million or 10.8% for the nine
months  ended  September  30, 1999  compared to $5.3 million for the same period
1998.  Interest income increased $518,000 to $4.6 million for September 30, 1999
compared to $4.1 million for  September 30, 1998.  Interest  income for the


                                   (Continued)

                                       10
<PAGE>
nine months ended September 30, 1999 was $12.9 million compared to $12.0 million
for the nine months ended  September 30, 1998, an increase of $857,000 or 7.11%.
For the third quarter  interest expense  increased  $271,000 to $2.6 million for
the quarter  ended  September  30, 1999  compared to $2.3 million  September 30,
1998.  Interest  expense  for the  nine  months  ended  September  30,  1999 and
September 30, 1998 was approximately $7.1 million and $6.8 million respectively.

Provisions  for loan  losses  decreased  by $89,000 for the three  months  ended
September 30, 1999 compared to the same period ended September 30, 1998.



                                   (Continued)

                                       11

<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
         MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                               OPERATING RESULTS

RESULTS OF OPERATIONS (CONTINUED)

Non-interest  income  increased to $214,000 for the three months ended September
30,1999 compared to $187,000 for the comparable  period in 1998. This represents
an  increase  of  $27,000  for the  quarter  over the  same  period  last  year.
Non-interest  income  increased  to $612,000  compared to $527,000  for the nine
months ended September 30, 1999 and 1998 respectively.  This increase of $85,000
is the result of deposit  account service fees and  non-interest  income for the
Trust department and the Financial  Services  subsidiary.  These two new product
lines opened in the fourth quarter 1998 and the first quarter 1999.

Non-interest  expense  increased  to $1.1 million and $3.1 million for the three
and nine months ended  September  30, 1999 compared to $903,000 and $2.7 million
for the  corresponding  period in 1998.  This represents an increase of $164,000
and $612,000 for the three and nine months ended  September 30, 1999 compared to
the  corresponding  periods in 1998.  This  increase is due  partially to higher
salaries  and  benefits  reflecting  increases  in  compensation  for  1999  and
additional  employees  added  during  late 1998 and year to date 1999 to support
customer  service as we grow,  including staff for the new product lines we have
added.  Occupancy  costs  also  increased  mainly due to the  addition  added to
provide for our Trust and Financial  Services.  Occupancy  expense  increased to
$103,000 and $299,000  for the three and nine months  ended  September  30, 1999
compared to $88,000 and $262,000 for the same periods ended September 30, 1998.

Data processing expense has increased to $135,000 and $397,000 for the three and
nine months ended  September  30, 1999 due to software  upgrades  and  increased
processing  volume  compared to $105,000 and $318,000 for the same periods ended
September 30, 1998.

Income tax expense is up for the three and nine months ended  September 30, 1999
due to higher taxable income compared to the same periods 1998.

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

                                   (Continued)

                                       12
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
           MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                             AND OPERATING RESULTS

of $47,000 and $182,000 for the three and nine months ended  September  30, 1999
compared to $90,000 and $270,000 for the same periods ended  September 30, 1998.
Management  believes our current  allowance  for loan loss is adequate to absorb
possible losses and is weighted for the mix of loans  currently held;  therefore
we  anticipate  that the  standard  expense  will be  maintained  for the fourth
quarter 1999.

                                   (Continued)

                                       13

<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
         MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                               OPERATING RESULTS

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 the Bank consist of the  non-accruing
loans, troubled debt restructuring and real estate owned which has 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>

                                                                      September 30     December 31
                                                                          1999             1998
                                                                          ----             ----
<S>                                                                      <C>              <C>
Non-accruing loans                                                       $1,277           $1,208
Accruing loans delinquent 90 days and more                                    -                -
Troubled debt restructuring                                                  12                -
Foreclosed assets                                                            53              120
                                                                         ------           ------
   Total non-performing assets                                            1,342            1,328
                                                                         ======           ======
   Total non-performing assets as a percentage of total assets             0.55%            0.63%
                                                                         ======           ======
</TABLE>
Total  non-performing  assets  remained at $1.3  million  for the periods  ended
September  30,  1999  and  December  1998,  however,  due to  asset  growth  the
performance improved as a percentage of total assets to 0.55% of total assets at
September 30, 1999 from 0.63% of total assets at December 31, 1998.

The Bank 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
tangible  capital  ratio  expressed as a percent of total  adjusted  assets.  At
September 30, 1999, the Bank exceeded all regulatory capital standards.

At September 30, 1999, the Bank's risk based capital was $24.7 million or 15.85%
of risk  adjusted  assets,  which  exceeds  the $12.5  million  and the 8.0% OTS
requirement by $12.2 million and 7.85%. The Bank's core capital at September 30,
1999 is $23.2  million  or 9.41%,  which  exceeds  the OTS  requirement  of $9.8
million,  and 4.00% by $13.4 million and 5.46%. The tangible capital requirement
is $4.9  million  and 2.00% which the Bank  exceeded by $18.3  million and 7.42%
which is reflected  by  September  30, 1999  tangible  capital  balance of $23.6
million and a 9.46% ratio of tangible capital to assets.


                                  (Continued)

                                       14
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
           MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                             AND OPERATING RESULTS

LIQUIDITY AND CAPITAL RESOURCES

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 September 30, 1999, First Federal's liquidity ratio was 8.46%,
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 September 30, 1999,
First  Federal  had  commitments  to  originate  loans and to fund open lines of
credit totaling $24.7 million. First Federal considers its liquidity and capital
resources  to be adequate to meet its  foreseeable  short and  long-term  needs.
However, to improve our short-term  liquidity position we have during the fourth
quarter to date  increased our deposit rates to attract Time deposits  primarily
with six month to one year terms.  These funds are being used to reduce  Federal
Home Loan  Bank  advance  borrowings  and  provide  for  other  liquidity  needs
including funding loans.  First Federal expects to be able to fund or refinance,
on a timely basis, its material commitments and long-term liabilities.

FORWARD-LOOKING STATEMENTS

When  used  in this  filing  and in  future  filings  by the  Company  with  the
Securities  and Exchange  Commission,  in the Company's  press releases or other
public  or  shareholder  communications,  or in oral  statements  made  with the
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 the  Company's  market  area,  changes in policies by  regulatory
agencies,  fluctuations  in interest  rates,  demand for loans in the  Company'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.

                                  (Continued)

                                       15
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
           MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                             AND OPERATING RESULTS

FORWARD-LOOKING STATEMENTS  (CONTINUED)

The Company  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 the Company's  financial  performance and could cause the
Company's  actual  results for future  periods to differ  materially  from those
anticipated or projected.

The Company 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.

IMPACT OF THE YEAR 2000

The Company  relies  heavily on computer  technology to provide its products and
services  and is well  aware of all the  issues  involved  with  the  Year  2000
including how operations  could be impacted if a potential  problem would arise.
An overall plan  developed by the Year 2000  Committee was approved by the Board
of Directors and put into effect in 1998. This plan is a step by step process of
assessment,  remediations and testing of hardware, software, embedded systems as
well as a  customer  awareness  program,  contingency  and  business  continuity
planning and budgeting.

A test was  performed  on all  computer  systems  to make sure they were able to
recognize  year 2000 dates and hold these dates when powered off and on. Any new
computer  equipment  purchased  will go through the same  testing  process.  All
embedded  systems have been  assessed and will  continue to be functional in the
year 2000.

The Company has no software that is internally  developed.  The various types of
software  utilized by the Company are purchased  through third party vendors and
our service  bureau.  Our  service  bureau has kept us informed of the Year 2000
status of their  software  products.  Testing of all mission  critical data file
interfaces began in the fourth quarter of 1998 and was completed in early second
quarter 1999. Testing of all other systems was completed in second quarter 1999.

Throughout  the  remainder  of 1999,  the  Company  will be focusing on Customer
Awareness  and  continuing to monitor the Y2K status of our various  vendors.  A
Business  Continuity  Plan has been  presented  to the  Board of  Directors  and
approved.

                                  (Continued)

                                       16

<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
           MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                             AND OPERATING RESULTS



This plan sets forth  certain  procedures  to be  followed  should  problems  be
discovered resulting from issues beyond our control.







                                       17
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.
                                     PART II

                                Other Information

ITEM 1 - LEGAL PROCEEDING

         The  Company  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  the   Company'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

         None

ITEM 5 - OTHER INFORMATION

         None

                                       18
<PAGE>
                         NORTHEAST INDIANA BANCORP, INC.

                               PART II (Continued)
                                Other Information

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits
              None

         (b) Reports on Form 8-K

(1)      July 16, 1999 Announcing Second Quarter Earnings
(2)      July 28, 1999 Announcing Cash Dividends
(3)      October 21, 1999 Announcing Third Quarter Earnings
(4)      October 26, 1999 Announcing Stock Dividend and effective increase in
         Cash Dividend


                                       19

<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: November 12, 1999       By:  /S/STEPHEN E. ZAHN
                                                 ------------------
                                                 Stephen E. Zahn
                                                 President and
                                                 Chief Executive Officer

                                                 (Duly Authorized Officer)

              Date:  November 12, 1999      By:  /S/DARRELL E. BLOCKER
                                                 ---------------------
                                                 Darrell E. Blocker
                                                 Senior Vice President and
                                                 Chief Financial Officer
                                                 (Principal Financial Officer)


                                       20