Huntington, Ind.-based First Federal Savings Bank has named Christopher Cook senior vice president and CFO and appointed him to the boards of the bank and its holding company, Northeast Indiana Bancorp, Inc.
“We are extremely excited to welcome Chris to our team,” said Michael S. Zahn, president/CEO of the $410 million bank. “His vast banking experience and expertise will immediately add value to the organization.”
Cook is a CPA and has a bachelor’s degree and MBA from Ball State University, Muncie, Ind. He completed the Graduate School of Banking in Madison, Wis.
Also, the Northeast Indiana Bancorp board of directors increased the dividend paid to shareholders for the 27th year in a row. The cash dividend, at 30 cents per common share per quarter, represents a 2 cent or 7.1 percent increase over the company’s previous quarterly dividend. The dividend will be payable on Nov. 26 to shareholders of record on Nov. 11.
“We are pleased to reward our shareholders with our 27th consecutive year of increasing our cash dividend. Due to our continued strong financial performance and capital levels, the Board of Directors feels the dividend increase is warranted,” said President/CEO Michael S. Zahn.