DEFIANCE, Ohio _ First Defiance Financial Corp. on Monday reported third-quarter earnings of $9.4 million. On a per-share basis, the Defiance, Ohio- based company said it had profit of 92 cents. The holding company for First Federal Bank of the Midwest posted revenue of $37.6 million in the period.
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.