Big Law

First Defiance Financial acquires United Community Financial for $473M

First Defiance Financial Corp., the Defiance-based parent company of First Federal Bank of the Midwest, has announced an acquisition of United Community Financial Corp., the Youngstown-based holding company of Home Savings Bank, in a deal valued at about $473 million.

The combined organization will establish a Midwest-focused community bank (with a strong market share in Ohio) that will be better-positioned to manage margin pressures. It also establishes a larger bank with significant buying power led by motivated acquirers.

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