Profile: First Defiance Financial Corp (FDEF.O)
First Defiance Financial Corp., incorporated on June 7, 1995, is a unitary thrift holding company that focuses on traditional banking and property and casualty, life and group health insurance products. The Company operates through its subsidiaries, First Federal Bank of the Midwest (First Federal or the Bank), First Insurance Group of the Midwest, Inc. (First Insurance) and First Defiance Risk Management Inc. (First Defiance Risk Management). First Federal is a federally chartered stock savings bank. First Federal's banking activities include originating and servicing residential, commercial, and consumer loans, and providing a range of depository, trust and wealth management services. First Insurance offers property and casualty, and group health and life insurance products. First Defiance Risk Management is an insurance company subsidiary of the Company to insure the Company and its subsidiaries against certain risks to the operations of the Company.
The Company's loan portfolio consists of real estate loans and other loans. Its real estate loans include one- to four-family residential loans, multi-family residential loans, commercial real estate loans and construction loans. Its other loans include commercial loans, home equity and improvement loans, and consumer finance loans. As of December 31, 2016, the Bank's total net loans were $1.91 billion.
The Company's investment securities are classified as available-for-sale securities and held-to-maturity investment securities. Its available-for-sale securities include Obligations of the United States Government corporations and agencies; mortgage-backed securities-residential; real estate mortgage investment conduits (REMICs); collateralized mortgage obligations (CMOs); preferred stock; corporate bonds, and obligations of state and political subdivisions. Its held-to-maturity securities include Federal Home Loan Mortgage Corporation (FHLMC) certificates; Federal National Mortgage Association (FNMA) certificates; Government National Mortgage Association (GNMA) certificates, and obligations of states and political subdivisions. As of December 31, 2016, the Bank's total available-for-sale securities were $250.99 million and total held-to-maturity securities were $187 thousands.
Sources of Funds
Deposits are the primary source of the Company's funds for lending and other investment purposes. In addition to deposits, it derives funds from loan principal repayments. First Defiance offers a selection of deposit instruments in various primary market areas, including checking accounts, money market accounts, savings accounts and term certificate accounts. It may obtain advances from the Federal Home Loan Bank (FHLB) of Cincinnati by pledging certain of its residential mortgage loans, non-residential loans, multi-family loans, home equity loans and investment securities. As of December 31, 2016, the Bank's total deposits were $1.98 billion.
First Defiance Financial Corp
601 Clinton St
DEFIANCE OH 43512-2636