Saturday, Oct 01, 2016
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Economy

First Defiance completes purchase of Genoa Savings

DEFIANCE - First Defiance Financial Corp. said yesterday it has completed the purchase of Genoa Savings and Loan Co., which will become part of its First Federal Bank of the Midwest.

The acquired thrift offices were to be closed today and will reopen Monday, First Defiance said. Those branches are in Genoa, Oregon, Perrysburg, and Maumee.

The deal, which expands First Federal to 25 branches and 31 ATM locations in 12 northwest Ohio counties, increases company deposits by $77 million and its loans by $67 million. First Defiance at the end of last year had $798 million in deposits, $881 million in loans, and $1.13 billion in assets.

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