First Defiance reports 56% growth in profit

4/24/2012

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.