Loading…
Wednesday, April 23, 2014
Current Weather
Loading Current Weather....
Published: Tuesday, 7/23/2013

BUSINESS BRIEF

First Defiance’s 2nd quarter profits up 56%

DEFIANCE — First Defiance Financial Corp. reported Monday that its profits rose 56 percent in second quarter and its loan-loss provision fell substantially from the same period a year earlier.

The company, which owns First Federal Bank of the Midwest, said its profit totaled $6.1 million, or 60 cents per share, compared with $3.9 million, or 38 cents per share, for the same period a year ago.

Net interest income, a key measure of a bank’s health, was down 2 percent in the second quarter, totaling $16.9 million, compared to $17.2 million a year ago. The provision for loan loss, or funds set aside to handle bad loans, was $448,000, which compared with $4.1 million for the same period a year ago. The company’s provision for loan loss was just $425,000 in the first quarter of 2013.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories




Poll