DEFIANCE, Ohio _ First Defiance Financial Corp. on Monday reported fourth-quarter profit of $7.4 million. The holding company for First Federal Bank of the Midwest posted revenue of $31.1 million in the period. For the year, the company reported profit of $28.8 million, or $3.19 per share.
With narrowing margins and a growing regulatory burden, there are many reasons for small banks to throw in the towel and sell to competitors.
Prospective bank buyers are outweighing sellers, signaling that after a big lull in U.S. bank M&A last year, the market may revive in 2012.