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"Our Board believes it is prudent to proceed conservatively with quarterly dividends until the current economic environment stabilizes and therefore reduced the dividend by 50 percent," said William J. Small, Chairman, President and CEO of First Defiance Financial Corp. "This decision is not based on any significant or specific issues within the company. It is based on external concerns such as the rate of the economic recovery, the upcoming FDIC Special Assessment and uncertainty over the impact of proposed regulatory reforms."
First Defiance Financial Corp. is the holding company for First Federal Bank of the Midwest and First Insurance and Investments. First Federal is a community bank serving northwest Ohio, southeast Michigan, and northeast Indiana where it currently operates 35 banking centers. First Insurance & Investments is a full line insurance agency with offices in Defiance and Bowling Green, Ohio.
First Defiance has approximately 8,117,520 common shares outstanding.
SOURCE First Defiance Financial Corp.
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