Wednesday, Dec 07, 2016
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Economy

Profit up sharply at First Defiance

DEFIANCE - First Defiance Financial Corp., a bank holding company, said yesterday that its second-quarter profit was $3.95 million, or 55 cents a share, or nearly double the $2.03 million, or 28 cents a share, for the period a year ago.

The latest quarter included a $400,000 gain from the sale of its credit-card portfolio, the firm said. Net interest income was $12.3 million, up from $11.9 million a year earlier, and its non-performing assets jumped to $8.9 million because of a $2.5 million loan more than 90 days overdue. Its total assets were $1.5 billion on June 30, up from $1.4 billion a year earlier.

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