First Defiance Financial Corporation announced that net income for its quarter ending June 30, totaled $2.1 million, or $0.19 per diluted common share, compared to $2.9 million or $0.29 per diluted common share for the same period last year.
The 2010 results included $37,000 of acquisition-related charges associated with the company’s May 2010 purchase of the group benefits business line from Andres O’Neil & Lowe Insurance Agency.
For the six month period ending June 30, 2010, First Defiance earned $3.6 million or $0.31 per diluted common share compared to $6.3 million or $0.65 per diluted common share for the six month period ending June 30, 2009. Excluding the after-tax cost of the $24,000 acquisition-related charges in 2010, First Defiance earned $3.6 million, or $0.32 per diluted common share for the first half of 2010.
“We are encouraged by our overall second quarter results,” said William J. Small, Chairman, president and chief executive officer. “Credit quality once again had a major impact on our second quarter earnings with a higher provision for loan losses, but we are seeing some positive movement toward improving credit quality over the last several quarters. We are also pleased with the improvement in the net interest margin this quarter despite the low interest rate environment. We do foresee a continuation of a difficult economic environment throughout 2010.”
First Defiance is the parent company of First Federal Bank, which has local offices in Genoa and Oregon.
The right thing
North Branch Nursery has donated 20 trees to Lake Township trustees to replace trees lost at Friendship Park during the June tornado.
Jeff Chio and Laurene Moore of the Edward Jones branch office in Oak Harbor are collecting school supplies for students in the Benton-Carroll-Salem school district. Drop off items at 178 W. Water Street, Suite A Monday through Friday 8 to 5. The drive ends August 13. Call 419-898-0821.
Recycling firm moving
Gateway Recycling and Waste Reduction, Inc. plans to complete its move to a building in the city of Oregon by the middle of September.
Ryan Palmier, general manager of the company’s Toledo-area operations, said the business is experiencing growth in its client base and needs additional space.
Gateway is currently working out of a 55,000-square-foot building at 1800 N. Water St. in Toledo. The company has applied for a permit to move into a 112,000-square-foot at 926-30 Dearborn Ave. in Oregon.
“We expect very minimal upgrades will be needed to the building, plus the Dearborn site gives us great access to I-280,” Palmier said.
The company employs about 20 people at the Toledo facility.
The Dearborn Avenue property is owned by Willis Day Properties, Inc.
Gateway also has a facility in Cleveland.
Elizabeth Mayer, Physician Assistant, has joined the staff of the NorthWest Ohio Primary Care Physicians, Perrysburg.
Mayer previously worked at Family Medical Center of Michigan and Portage Valley Medical Center. She is a graduate of Medical College of Ohio with her MSBS, PA-C, and University of Toledo with her BA; she is also a nationally certified PA.
Mayer has been a practicing physician assistant for 10 years in primary care and dermatology.
The NorthWest Ohio Primary Care Physicians has offices in Perrysburg, Woodville, Rossford and Maumee.
Susan Patton, Northwood, and Lillian Meadows, Walbridge, are among the Avon sales representatives to win a trip to Punta Cana in the Dominican Republic. The two were recognized as being among the company’s top performers in sales and leadership.
Leadership Ottawa County is seeking applications for its 2010-2011 class. The initiative helps trains civic and business leaders. Class curriculum includes sessions on: leadership skills, team building, problem solving, conflict resolution, communication, public speaking, boardmanship, business and economic development, government structure, and the history and heritage of Ottawa County.
Class meets the second Wednesday of each month September through May, 1 to 9 p.m. Call Sheila Powell at 419-366-7420.
At the clubs
The Oregon Economic Development Foundation and the Eastern Maumee Bay Camber of Commerce will host its annual Party in the Parking Lot Thursday, Aug. 19 from 4 to 8 p.m. at 2460 Navarre. Call Linda at 419-693-9999.