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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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February 17, 2015
09:34 EDTFDEFFirst Defiance Financial revises Q4 earnings upward to 65c per share
First Defiance Financial Corp. announced an upward adjustment of $551,000, or 6cper diluted common share, to its previously reported Q4 and FY14 net income. The adjustment relates to First Defiance's provision for income taxes for Q4 and has no effect on any other previously reported period. The adjustment to the provision for income taxes reflects the utilization of capital loss carryforwards greater than previously identified. As a result, the provision for income taxes for the quarter and full year ended December 31, 2014 was previously overstated by $551,000. First Defiance's revised earnings of $6.4M, or 65c per diluted common share, for the quarter ended December 31, 2014, compares to $5.1M or 50c per diluted common share for the fourth quarter a year ago.

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