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To: Harbie who wrote (99967)	1/22/2002 1:19:51 AM
From: Jim Bishop	Respond to of 150070

FDEF First Defiance Announces Record Annual Earnings DEFIANCE, Ohio, Jan. 21 /PRNewswire-FirstCall/ - HIGHLIGHTS * Record annual EPS for 2001 of $2.05 compared to $1.71 for 2000, an increase of nearly 20%. * Record quarterly EPS of $.75 for the 2001 fourth quarter compared to $.49 for the fourth quarter in 2000, an increase of 53%. * Operating results include income from The Leader Mortgage unit which is being sold to U.S. Bank in 2002. * Net interest margin for 2001 up 47 basis points from 2000; 2001 fourth quarter margin increases 97 basis points from same period in 2000 and 12 basis points from 2001 third quarter. * Asset quality remains good. * Fourth quarter 2001 income favorably impacted by $2.1 million in gains realized from the sale of certain delinquent loans from the mortgage portfolio and $438,000 from the reversal of previously recorded mortgage servicing rights impairment reserves. After tax impact of these items was $1.7 million or $.25 per share in the fourth quarter.