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Published: Tuesday, 4/24/2012

First Defiance reports 56% growth in profit


DEFIANCE -- First Defiance Financial Corp. reported a first-quarter profit Monday of $4.2 million, or 37 cents a share, a 56 percent increase from $2.7 million, or 25 cents a share, in the same period a year ago.

First Defiance, parent firm of First Federal Bank of the Midwest, said its provisions for loan losses increased to $3.5 million from $2.8 million a year ago. The company's net interest income remained unchanged at $17.2 million.

The company also declared a quarterly cash dividend of 5 cents a share, payable June 1 to shareholders of record May 15.

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