DEFIANCE, Ohio, April 27, 2011 /PRNewswire/ -- First Defiance
Financial Corp. (NASDAQ: FDEF) hosted its annual meeting of
shareholders on April 26 at the
company's Operations Center in Defiance. William J.
Small, Chairman, President and CEO, reviewed the company's
2010 achievements and challenges as well as current issues facing
the financial industry. Donald P. Hileman, EVP and CFO,
provided details on the company's financial performance in 2010 and
first quarter of 2011.
Mr. Small noted that 2010 showed signs of economic recovery and
First Defiance ended the year in a solid position by following its
basic, conservative business plan. Deposit growth,
record-breaking mortgage loan volume, strong core fundamentals and
the maintenance of net interest margin were the keys to success.
The bank grew deposits to $1.6
billion and originated over $409
million in mortgage loans in 2010, and consolidated assets
grew to $2.06 billion at March 31, 2011. Small noted that First
Federal Bank is the largest community bank based in northwest
Ohio, allowing the bank to offer a
full menu of services with decision makers close to home.
Mr. Small also reviewed the regulatory environment and its
impact on financial institutions, and expressed optimism for the
future. "The economy is slowly improving and we will continue to
focus on core deposit growth, asset quality and expense control in
2011," Small said. "Our core fundamentals are strong, we are
well-capitalized and we have the people in place to take First
Federal Bank successfully through 2011 and beyond."
In the business portion of the meeting, shareholders re-elected
four directors for three-year terms expiring at the annual meeting
in 2014: Jean A. Hubbard, who was
appointed as a director in 2008; Barbara A.
Mitzel, appointed as a director in 2008; James L. Rohrs, appointed in 2002; and
Thomas A. Voigt, who has been a
director since 1995. Shareholders also approved a non-binding
advisory vote on First Defiance's executive compensation and
approved the ratification of the appointment of Crowe Horwath, LLP as the registered independent
accounting firm for 2011.
About First Defiance Financial Corp.
First Defiance Financial Corp., headquartered in Defiance, Ohio, is the holding company for
First Federal Bank of the Midwest and First Insurance &
Investments. First Federal operates 33 full service branches and 45
ATM locations in northwest Ohio,
southeast Michigan and
Fort Wayne, Indiana. First
Insurance & Investments specializes in property and casualty
and group health and life insurance, with offices in Defiance, Archbold, Bryan and Bowling
Green, Ohio. For more information, visit the
company's website at www.fdef.com.
SOURCE First Defiance Financial Corp.