First Defiance Financial, in Ohio, has revised upward its fourth-quarter earnings after lowering its provision for fourth-quarter income taxes.
The $2.2 billion-asset company added $551,000 to its bottom line after the tax-related adjustment. It took greater advantage of capital loss carryforwards, according to a news release Tuesday.
Its revised quarterly profit was $6.4 million, up 25% from a year earlier. It earned 65 cents per share for the quarter, 5 cents higher than in its initial report.
First Defiance is the holding company for First Federal Bank of the Midwest and First Insurance Group. First Federal has 33 branches in northwest Ohio, southeast Michigan and northeast Indiana, and First Insurance has five offices in northwest Ohio.