First Defiance Financial Q4 Profit Declines

(RTTNews) - First Defiance Financial Corp. (FDEF) reported net income for the fourth quarter of $5.1 million, or $0.50 per share, compared to $5.2 million; or $0.52 per share for the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.51 per share for the fourth quarter.

The latest quarter results were negatively impacted by a $219,000 after tax loss, or $0.02 per share, as a result of $337,000 in other-than-temporary impairment losses recognized on $1.9 million of collateralized debt obligations.

Net interest income for the fourth quarter declined to $17.0 million from $17.4 million a year ago. Provision for loan losses fell to $475,000 from $2.6 million a year earlier.

First Defiance's non-interest income for the fourth quarter fell to $6.5 million from $10.2 million last year.