Exhibit 99

For Immediate Release

FIRST DEFIANCE FINANCIAL CORP. ANNOUNCES 2011

FIRST QUARTER EARNINGS

DEFIANCE, OHIO (April 25, 2011) – First Defiance Financial Corp. (NASDAQ: FDEF) today announced that net income for its first quarter ended March 31, 2011 totaled $2.7 million, or $0.25 per diluted common share, compared to $1.5 million or $0.12 per diluted common share for the quarter ended March 31, 2010.

“We are encouraged by the improvement in the first quarter results, even as we continue to encounter challenges in the economy,” said William J. Small, Chairman, President, and Chief Executive Officer of First Defiance Financial Corp. “We saw positive movement in credit quality in the first quarter of 2011 compared to the last several quarters.”

Credit Quality

The first quarter results include expense for provision for loan losses of $2.8 million, compared with $6.9 million for the same period in 2010 and $5.7 million in the fourth quarter of 2010.

Non-performing loans totaled $45.6 million at March 31, 2011, a decrease from $47.0 million at December 31, 2010 but an increase from $40.6 million at March 31, 2010. The March 31, 2011 balance included $40.9 million of loans that are on non-accrual and another $4.6 million of loans that are still accruing but are considered non-performing because of changes in terms granted to borrowers. In addition, First Defiance had $9.2 million of Real Estate Owned at March 31, 2011 compared to $12.8 million at March 31, 2010. For the first quarter of 2011, First Defiance recorded net charge-offs of $3.1 million, which represented .85% of average loans outstanding at March 31, 2011 (annualized), down from the fourth quarter level of 1.58%. The allowance for loan loss as a percentage of total loans increased slightly to 2.77% at March 31, 2011 from 2.70% at December 31, 2010 and 2.47% at March 31, 2010.

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“We are pleased with the slight improvement in the level of non-performing assets in the first quarter,” Small said. “We are still dealing with a weak economic environment, especially in the commercial real estate market. Improvement in this area will take some time to show a sustainable trend.”

Net Interest Margin up from 2010 First Quarter

Net interest income increased to $17.2 million in the first quarter of 2011 compared to $17.1 million in the 2010 first quarter. Net interest margin was 3.89% for the 2011 first quarter compared to 3.89% in the fourth quarter of 2010 and 3.85% in the first quarter of 2010. Yield on interest earning assets declined by 42 basis points, to 4.99% in the first quarter of 2011 from 5.41% in the 2010 first quarter, while the cost of interest-bearing liabilities and non-interest-bearing demand deposits decreased by 47 basis points, to 1.12% from 1.59%.

“The stability of our net interest margin for the quarter is noteworthy,” said Small, “especially in this extended low rate environment. We will continue to look for pricing opportunities, further improvement in credit quality, and other ways to maintain our margin going forward.”

Non-Interest Income

First Defiance’s non-interest income for the 2011 first quarter was $5.9 million compared with $6.8 million in the first quarter of 2010. Service fees and other charges were $2.6 million in the first quarter of 2011, compared with $3.2 million in the first quarter of 2010. Mortgage banking income declined to $1.3 million in the first quarter of 2011 from $1.8 million in the first quarter of 2010. Gains from the sale of mortgage loans decreased in the first quarter of 2011 to $726,000 from $1.2 million in the first quarter of 2010. Mortgage loan servicing revenue increased to $845,000 in the 2011 first quarter from $748,000 in the first quarter of 2010. Insurance and investment sales commissions also increased to $1.7 million for the first quarter of 2011 compared to $1.1 million for the first quarter of 2010.

The rising mortgage rates in the first quarter reduced originations and also triggered recovery of previously recorded mortgage servicing rights (“MSR”) impairment. The Company had a positive change in the valuation adjustment in mortgage servicing assets of $171,000 in the first quarter of 2011 compared with $321,000 in the first quarter of 2010. The MSR positive valuation adjustment is a reflection of the increase in the fair value of certain sectors of the Company’s portfolio of mortgage servicing rights for these periods. The interest rate environment that gives rise to decreased mortgage origination activity also typically causes decreases in MSR amortization and impairment, creating a natural hedge in the mortgage banking line of business.

Income from the sale of insurance and investment products increased to $1.7 million for the 2011 first quarter, from $1.1 million in the same period of 2010. First Defiance’s insurance subsidiary, First Insurance & Investments, typically recognizes contingent revenues during the first quarter. These revenues are bonuses paid by insurance carriers when the Company achieves certain loss ratios or growth targets. In 2011, First Insurance earned $329,000 of contingent

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income, compared to $91,000 recorded during the first quarter of 2010. This business unit also benefitted from the May 2010 acquisition of the group health book of business from a local insurance agency.

“We are encouraged by the solid insurance and wealth management revenue for the quarter,” said Small. “However, the quarter did reflect the ongoing pressure to maintain fee income. We are continually exploring new products and services that are priced efficiently and are customer-focused in order to maintain acceptable fee income at the bank level.”

Non-Interest Expenses

Total non-interest expense was $16.6 million for the first quarter of 2011, an increase from $14.8 million in the first quarter of 2010 and relatively flat with $16.5 million in the fourth quarter of 2010. The fourth quarter of 2010 included $802,000 of core processing conversion related charges.

Compensation and benefits increased to $7.8 million compared to $6.5 in the first quarter of 2010 and $7.2 in the fourth quarter of 2010. The increase in compensation and benefits expense is largely due to the Company freezing pay in 2010 coupled with no bonuses being paid in the first quarter of 2010 due to the Company not meeting certain targets and an increase in health insurance expense of $180,000. The Company did grant pay increases in the first quarter of 2011 and accrued for bonus payments based on performance in the first quarter of 2011. FDIC insurance expense decreased to $913,000 in the first quarter of 2011 from $1.0 million in the same period of 2010. Other non-interest expense increased to $4.1 million in the first quarter of 2011 from $3.3 million in the first quarter of 2010. Secondary market buy-back losses were $228,000 in the first quarter of 2011 compared to no losses in the same period of 2010. These losses were incurred as a result of underwriting issues identified after the loan was sold.

Total Assets at $2.06 Billion

Total assets at March 31, 2011 were $2.06 billion, compared to $2.04 billion at December 31, 2010 and $2.06 billion at March 31, 2010. Net loans receivable (excluding loans held for sale) were $1.43 billion at March 31, 2011 compared to $1.48 billion at December 31, 2010 and $1.54 billion at March 31, 2010. Total cash and cash equivalents were $235.3 million at March 31, 2011 compared with $169.2 million at December 31, 2010 and $154.7 million at March 31, 2010. Also at March 31, 2011, goodwill and other intangible assets totaled $63.3 million compared to $63.7 million at December 31, 2010 and $63.0 million at March 31, 2010.

Total deposits at March 31, 2011 were $1.59 billion compared with $1.58 billion at December 31, 2010, and $1.60 billion at March 31, 2010. Non-interest bearing deposits at March 31, 2011 were $219.4 million compared to $216.7 million at December 31, 2010 and $187.2 million at March 31, 2010. Total stockholders’ equity was $263.1 million at March 31, 2011 compared to $240.3 million at December 31, 2010 and $235.7 million at the March 31, 2010.

First Defiance completed an underwritten public common stock offering in the first quarter of 2011 by issuing 1,600,800 shares of the Company’s common stock, including 208,800

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shares issued pursuant to the exercise of the underwriter’s over-allotment option. Gross proceeds from the offering were $21.2 million.

Conference Call

First Defiance Financial Corp. will host a conference call at 11:00 a.m. (EST) on Tuesday, April 26, 2011 to discuss the earnings results and business trends. The conference call may be accessed by calling 1-800-860-2442. A live webcast may be accessed at http://www.talkpoint.com/viewer/starthere.asp?Pres=134640.

Audio replay of the Internet Web cast will be available at www.fdef.com until May 6, 2011 at 9:00 a.m.

Annual Meeting of Shareholders

First Defiance Financial Corp. will host its Annual Meeting of Shareholders at 2:00 p.m. on Tuesday, April 26, 2011 at the First Federal Bank operations center at 25600 Elliott Road in Defiance. Following the meeting, the audio replay, slide presentation and transcript will be available at the Company’s Web site at www.fdef.com.

First Defiance Financial Corp.

First Defiance Financial Corp., headquartered in Defiance, Ohio, is the holding company for First Federal Bank of the Midwest and First Insurance & Investments. First Federal operates 33 full service branches and 45 ATM locations in northwest Ohio, southeast Michigan and Fort Wayne, Indiana. First Insurance & Investments specializes in property and casualty and group health and life insurance, with offices in Defiance, Archbold, Bryan and Bowling Green, Ohio.

For more information, visit the company’s Web site at www.fdef.com.

Financial Statements and Highlights Follow-

Safe Harbor Statement

This news release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21 B of the Securities Act of 1934, as amended, which are intended to be safe harbors created thereby. Those statements may include, but are not limited to, all statements regarding intent, beliefs, expectations, projections, forecasts and plans of First Defiance Financial Corp. and its management, and specifically include statements regarding: changes in economic conditions, the nature, extent and timing of governmental actions and reforms, future movements of interest rates, the production levels of mortgage loan generation, the ability to continue to grow loans and deposits, the ability to benefit from a changing interest rate environment, the ability to sustain credit quality ratios at current or improved levels, the ability to sell OREO properties, continued strength in the market area for First Federal Bank of the Midwest, and the ability of the Company to grow in existing and adjacent markets. These forward-looking statements involve numerous risks and uncertainties, including those inherent in general and local banking, insurance and mortgage conditions, competitive factors specific to markets in which the Company and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions or capital market conditions and other risks and uncertainties detailed from time to time in the Company’s Securities and Exchange Commission (SEC) filings, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2010. One or more of these factors have affected or could in the future affect the Company’s business and financial results in future periods and could cause actual results to differ materially from plans and projections. Therefore, there can be no assurances that the forward-looking statements

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included in this news release will prove to be accurate. In light of the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other persons, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this news release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements.

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Consolidated Balance Sheets

First Defiance Financial Corp.

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Consolidated Statements of Income (Unaudited)

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Financial Summary and Comparison

First Defiance Financial Corp.

NM Percentage change not meaningful

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Income from Mortgage Banking

Revenue from sales and servicing of mortgage loans consisted of the following:

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Yield Analysis

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Selected Quarterly Information

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