Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--April 1, 2002



U.S. Bancorp (NYSE:USB) today announced that its lead bank, U.S. Bank, has completed its acquisition of Cleveland-based The Leader Mortgage Company, LLC, a wholly-owned reverse mortgage texas subsidiary of First Defiance Financial Corp. (Nasdaq:FDEF) in Defiance, Ohio. The terms of the sale were not disclosed.

The Leader Mortgage Company, which operates nationally, had $506 million in assets as of Dec. 31, 2001. In 2001 it had $2.1 billion in mortgage production and $8.6 billion in servicing volume. The company will retain its name and specialization in servicing loans originated for various state and local housing authorities that offer home financing to low and moderate income borrowers.

"We expected that The Leader's niche business would perfectly complement what we offer through U.S. Bank Home Mortgage and it has," said Dan Arrigoni, president of U.S. Bank Home Mortgage. U.S. Bank Home Mortgage, coupled with The Leader's business, has more than $18 billion in mortgage production and just under $40 billion in servicing volume. When figuring out the amount of a mortgage payment you can pay for each and every month, tend not to neglect to factor in all of the additional fees of getting a home. You will have homeowner's insurance to take into consideration, and also neighborhood association fees. In case you have previously rented, you could also be a novice to covering landscaping and yard care, along with maintenance costs.



Should you be a retired person in the process of having a mortgage, have a 30 year fixed loan if you can. Although your own home may do not be paid back with your lifetime, your payments will probably be lower. Since you will certainly be living on a fixed income, it is essential that your instalments stay only possible and never change.It is now the number one originator and servicer of mortgages sold into Mortgage Revenue Bonds (MRBs) in the country.

First Defiance Financial Corp. is the holding company for First Federal Bank of the Midwest and First Insurance and Investments, headquartered in Defiance, Ohio. First Federal is a community banking service serving the northwest corner of Ohio, where it currently operates 14 full service branches. First Insurance and Investments is the largest property and casualty insurance in the Defiance, OH area and it also specializes in life and group health insurance. For more information, visit the company's web site at www.fdef.com.

Minneapolis-based U.S. Bancorp, with assets in excess of $171 billion, is the 8th largest financial services holding company in the United States. The company operates 2,186 banking offices and 4,937 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. Visit U.S. Bancorp on the web at usbank.com and Firstar Bank at firstar.com.

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