Northeast Indiana Bancorp in Huntington has announced that it would amend the third-quarter results it released Oct. 23, in order to account for an alleged fraud by a borrower.

Last month, $256 million-asset Northeast Indiana reported a profit of $481,000, down 28% from last year's third quarter. It did not disclose in its announcement late Tuesday the name of the borrower, nor did it release revised numbers, but chairman and chief executive officer Stephen E. Zahn said the alleged fraud would "materially and adversely" affect third-quarter results.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.