First Defiance selling 1.4M common shares

3/24/2011

DEFIANCE — First Defiance Financial Corp., the parent company of First Federal Bank of the Midwest, is selling nearly 1.4 million shares of common stock to raise money for operations.

The sale, expected to close March 29, is slated to generate $18.4 million in proceeds, or $13.25 a share. The company will net about $17 million.

The revenue will be used, in part, for general business purposes and to strengthen First Defiance's asset liquidity, the company said Wednesday.