By Jennifer Chiou
New York, April 24 - First Defiance Financial Corp. registered $37 million of series A fixed-rate cumulative perpetual preferred stock for sale in an S-3 filing with the Securities and Exchange Commission.
The company sold the preferreds to the U.S. Department of the Treasury on Dec. 5, 2008 under the Troubled Asset Relief Program's Capital Purchase Program.
The dividend rate is 5% per year up to but excluding Feb. 15, 2014, at which time the dividend rate steps up to 9%. When declared by the board, dividends are payable quarterly.
The preferreds are callable at par at any time subject to the approval of the Federal Reserve Board.
First Defiance Financial is a unitary thrift holding company based in Defiance, Ohio.
| Issuer: | First Defiance Financial Corp.
|
| Issue: | Series A fixed-rate cumulative perpetual preferred stock
|
| Amount: | $37 million
|
| Maturity: | Perpetual
|
| Dividends: | 5% until Feb. 15, 2014, then 9%; payable quarterly
|
| Liquidation amount: | $1,000
|
| Call option: | At par subject to federal approval
|
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