Northeast Indiana Bancorp, the parent company of First Federal Savings Bank, has promoted Michael Zahn to CEO effective 1 January 2011.

Michael has served as president of First Federal and executive vice president of Northeast Indiana Bancorp, since 2005, served as senior vice president of both companies from 2000 until 2005 and has served on the board of directors of both entities since 2000.

Prior to 2000, Zahn served First Federal in various capacities since first joining the bank in 1996.

Stephen Zahn will retire as CEO on 31 December 2010 but he will remain chairman of the board of both Northeast Indiana Bancorp and First Federal Savings Bank.

Northeast Indiana Bancorp chairman Stephen Zahn said that Michael will guide the bank to continued profitability and growth in the coming years.

"Michael has already been instrumental in expanding the bank’s market footprint during his tenure as president. He’s willing to seek out new products and services that meet demand in our markets," Stephen Zahn said.

Northeast Indiana Bancorp is headquartered in Indiana. It offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and four full-service Indiana offices in Huntington, Warsaw and Fort Wayne.