BUSINESS BRIEF

First Defiance posts $5.7M profit for quarter

7/22/2014

DEFIANCE — First Defiance Financial Corp. on Monday reported a second-quarter profit of $5.7 million, or 57 cents a share, down 6 percent from the same period a year ago when the financial institution reported a profit of $6.1 million, or 60 cents a share.

First Defiance, the parent firm of First Federal Bank of the Midwest, said its provisions for loan losses decreased to $446,000, down from $448,000 a year ago. A lower loan loss provision figure is an indicator of the strength of a bank’s loan portfolio.

The company’s net interest income, a key measure of a bank’s profitability, was $17.1 million, up from $16.9 million for the first quarter a year ago.