First Defiance to buy back up to 5% of shares


DEFIANCE — First Defiance Financial Corp.'s board of directors have approved a share repurchase program that will buy up to 5 percent, or approximately 489,000 shares, of the company’s outstanding common stock.

The repurchase will be made periodically, depending on market conditions and other factors. The reacquired shares will be held as treasury stock and will be available for general corporate purposes, including employee stock option plans.

First Defiance said that as of Sept. 27, it had 9,784,737 shares outstanding. Its stock closed at $23.39 a share Monday, down 60 cents, on the Nasdaq mark