In Brief: First Defiance Buying an S&L

Published October 15, 2004, 6:07 p.m. EDT

Updated October 14, 2004, 5:07 p.m. EDT

1 Min Read

First Defiance Financial Corp. of Ohio has agreed to buy Genoa Savings and Loan Co. for $11 million in cash.

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The deal, announced late Wednesday, calls for First Defiance to pay $30.22 a share for the $94 million-asset savings and loan.

The purchase would give First Defiance four branches in the Toledo area. It said those branches would complement a loan production office it opened in May 2002.

Each of the institutions has a branch in the Toledo suburb of Maumee; First Defiance said the two branches would merge.

The transaction is expected to close in the first quarter.

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In Brief: First Defiance Buying an S&amp;L

In Brief: First Defiance Buying an S&L