First Defiance Financial Corp. Declares Quarterly Cash Dividend, Payable February 27, 2015; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 19, 2015 at 10:30 pm
Share
The Board of Directors of First Defiance Financial Corp. declared a quarterly cash dividend of $0.175 per common share payable February 27, 2015 to shareholders of record at the close of business on February 20, 2015. The dividend represents an annual dividend of 2.10% based on the First Defiance common stock closing price on January 16, 2015.
The company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest income of $19,713,000 compared to $18,737,000 a year ago. Net interest income was $18,101,000 compared to $17,009,000 a year ago. Income before income taxes was $8,312,000 compared to $7,078,000 a year ago. Net income was $5,804,000 compared to $5,087,000 a year ago. Diluted earnings per share were $0.59 compared to $0.50 a year ago.
For the year, the company reported total interest income of $76,248,000 compared to $74,781,000 a year ago. Net interest income was $69,689,000 compared to $67,611,000 a year ago. Income before income taxes was $33,455,000 compared to $31,513,000 a year ago. Net income was $23,741,000 compared to $22,235,000 a year ago. Diluted earnings per share were $2.38 compared to $2.19 a year ago.
Premier Financial Corp. is the holding company for Premier Bank (the Bank). The Bank is primarily engaged in community banking. It attracts deposits from the general public through its offices and Website, and uses those and other available sources of funds to originate residential real estate loans, commercial real estate loans, commercial loans, home improvement and home equity loans and consumer loans. In addition, the Bank invests in United States Treasury and federal government agency obligations, obligations of states and political subdivisions, mortgage-backed securities that are issued by federal agencies, including real estate mortgage investment conduits (REMICs) and residential collateralized mortgage obligations (CMOs), and corporate bonds. The Bank offers customers a range of deposit products including demand, checking, money market and savings accounts. The Bank operates approximately 75 branches and nine loan offices in Ohio, Michigan, Indiana and Pennsylvania.
First Defiance Financial Corp. Declares Quarterly Cash Dividend, Payable February 27, 2015; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014