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Stock Market & Financial Investment News

News Breaks
January 20, 2014
17:24 EDTFDEFFirst Defiance Financial reports Q4 EPS 50c, consensus 51c
First Defiance said the results were negatively impacted by a $219,000 after tax loss, or 2c, as a result of $337,000 in other-than-temporary impairment losses recognized on $1.9M of collateralized debt obligations. The CDO securities were among those considered disallowed under the revised final "Volcker Rule" of the Dodd-Frank Act which requires the Company to liquidate these securities, it stated. Non-performing loans totaled $27.8M at December 31, 2013, a decrease from $32.6M at December 31, 2012. The results include expense for provision for loan losses of $475,000, compared with $2.6M for the same period in 2012 and $476,000 in Q3.
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