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Published: Tuesday, 10/26/2010

First Defiance reports sharp jump in profit


DEFIANCE — First Defiance Financial Corp. reported a third-quarter profit Monday of $2.3 million, or 22 cents a share, a nearly sevenfold increase from $329,000, or 2 cents a share, from the same period a year ago.

The parent firm of First Federal Bank of the Midwest said its provisions for loan losses decreased to $5.2 million from $8.1 million a year ago. The company's net interest income increased to $17.8 million from $17.6 million a year ago.

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