Tuesday, Jun 28, 2016
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Quarterly profit drops at First Defiance

DEFIANCE-- First Defiance Financial Corp. reported Monday that its profits dropped in the second quarter and its loan-loss provision nearly doubled from the same period a year earlier.

The Defiance company, which owns First Federal Bank of the Midwest and an insurance firm, said its profit was $3.9 million, or 32 cents a share, compared with $4.8 million, or 43 cents a share, for the same period a year ago.

Net interest income, a key measure of a bank's health, was $17.2 million for the quarter, compared with $17.5 million a year ago.

Its provision for loan losses rose to $4.1 million from $2.4 million a year ago.

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