First Defiance Financial Corp completes acquisition of Commercial Bancshares, Inc

First Defiance Financial Corp. announced Monday it has completed its acquisition of Commercial Bancshares, Inc. and will merge The Commercial Savings Bank, a subsidiary of Commercial Bancshares, with First Defiance’s subsidiary, First Federal Bank of the Midwest. Commercial shareholders received total consideration of 80 percent stock and 20 percent cash. Based on the Feb. 24 closing price of $49.61 per share of First Defiance, the transaction had an implied value of approximately $70.3 million.