Thursday, Oct 19, 2017
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Economy

First Defiance completes acquisition of ComBanc

DEFIANCE - First Defiance Financial Corp. yesterday said it had completed its $38 million acquisition of ComBanc Inc. and its subsidiary, The Commercial Bank of Delphos.

The four branches of the Commercial Bank will be closed today and reopen Monday as branches of First Federal Bank of the Midwest, the main subsidiary of First Defiance.

There are two offices in Lima and one each in Delphos and Elida.

The acquisition increases First Defiance's deposits by $166 million and its loans by approximately $116 million. As of Dec. 31, First Defiance had deposits of $798 million and loans totalling $881 million, with assets of $1.13 billion.

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