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First Defiance's earnings decrease

DEFIANCE - First Defiance Financial Corp., a bank holding company, yesterday reported a smaller profit for the third quarter, at $1.7 million or 26 cents a share from $3.7 million or 58 cents a share for the period a year earlier.

The profit was affected by a $1.9 million charge to settle contingent liabilities related to the sale of its mortgage subsidiary. The banking company's net interest income was $8.6 million for the quarter, up from $7.8 million a year ago; provision for loan losses dropped to $376,000 from $497,000; and assets were $1.1 billion, up from $1 billion.

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