Exhibit 12.1

RATIOS OF EARNING TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS

The following table sets forth our consolidated ratios of earnings to fixed charges and preferred share dividends for the periods shown. For the purposes of computing the ratios, earnings represent the sum of income before income taxes plus fixed charges and preferred share dividend requirements. Fixed charges represent total interest expense, including and excluding interest on deposits, and one-third of rental expense (which First Defiance believes is representative of the interest factor). Preferred share dividend requirements represent the amount of pre-tax income required to pay the dividends on preferred shares. The Company had no preferred shares outstanding before the Series A Preferred Shares issuance in December 2008.

	For the Nine Months Ended September 30,				For the Year Ended December 31,
	2009		2008		2008		2007		2006		2005		2004
Earnings before income taxes	$	9,831	$	9,522	$	10,885	$	20,373	$	23,051	$	17,823	$	15,598
Fixed charges:
Interest expense of deposits		20,206		23,851		31,354		40,356		33,273		20,615		12,950
Interest expense on FHLB advances		3,865		4,803		6,375		6,889		8,885		7,625		7,317
Interest expense on subordinated debentures		1,139		1,445		1,907		2,115		1,308		201		0
Interest expense on notes payable		433		1,217		1,632		729		577		451		114
Rental Expense (1/3 of GL 421000)		117		110		146		141		117		109		89
Total fixed charges		25,760		31,426		41,414		50,230		44,160		29,001		20,470
Preferred dividends		2,197		0		209		0		0		0		0
Earnings	$	37,788	$	40,948	$	52,508	$	70,603	$	67,211	$	46,824	$	36,068
Ratio of earnings to fixed charges and preferred dividends:
Including interest on deposits		1.35x		1.30x		1.26x		1.41x		1.52x		1.61x		1.76x
Excluding interest on deposits		2.27x		2.26x		2.06x		3.06x		3.12x		3.13x		3.07x