First Defiance profits up $1.4M from year ago

4/23/2013

DEFIANCE — First Defiance Financial Corp. reported a first-quarter profit Monday of $5.6 million, or 55 cents per share, up 33 percent from $4.2 million, or 37 cents per share, for the same period a year ago.

First Defiance, the parent firm of First Federal Bank of the Midwest, said that its provisions for loan losses decreased to $425,000 from $3.5 million a year ago. The company’s net interest income, a key measure of a bank’s profitability, decreased to $16.5 million from $17.2 million a year ago.