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First Defiance Financial to Acquire The Leader Mortgage Company

Monday April 13, 2:27 pm Eastern Time

FIRST DEFIANCE FINANCIAL CORP. Signs Definitive Agreement to Acquire The Leader Mortgage Company

Apr. 13, 1998, First Defiance Financial Corp. (Nasdaq:  FDEF - said it signed a definitive agreement to acquire The Leader Mortgage Company, a privately held, Ohio-based mortgage banking company.

FDEF said under terms of the agreement, the purchase price is anticipated to be $39,550,000. The pricing reflects 254% of Leader's Dec. 31, 1997 book value and 8.4 times Leader's pro forma fiscal Sept. 30, 1998 earnings.

FDEF said the acquisition of Leader will result in the merger of Leader with and into FDEF's wholly owned subsidiary, First Federal Savings and Loan, Defiance, Ohio, with Leader continuing to operate as The Leader Mortgage Company, a subsidiary of First Federal.

The transaction is expected to close in the third quarter.
 
 

 

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Certain of the statements set forth in this web site reflect management's current expectations regarding the future and are to be considered forward-looking statements. Please be assured that the information on the site is accurate and fairly represents the company given everything we know today. However, such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those discussed in these forward-looking statements. Investors are encouraged to read the company's report on forms 10-Q and 10-K, particularly those sections identified as risk factors. Thank you.