Charter One Financial Acquires Two Cleveland-Area Branch Offices

Charter One Financial, Inc. has announced the definitive agreement to purchase two Cleveland-area branch offices from the Resolution Trust Corporation, formerly operated by TransOhio Savings Bank. The acquisition complements Charter One's strong presence in the Greater Cleveland area, where it already operates 44 offices. The properties, one located in Euclid and the other in Westlake, are fully outfitted and ready for occupancy after redecoration. Charter One plans to consolidate two nearby offices into these locations, citing the ideal positions and quick assimilation into their network.

Key Takeaways:

• Charter One Financial, Inc. has signed a definitive agreement to purchase two Cleveland-area branch offices from the Resolution Trust Corporation.
• The properties, located in Euclid and Westlake, have a total of 6,286 square feet of floor space and two drive-up windows.
• The acquisition complements Charter One's strong position in the Greater Cleveland area, where it already operates 44 offices.
• The bank plans to consolidate two nearby offices into these locations, with completion expected in the second quarter.
• Charter One's total assets stand at $6.1 billion, making it Ohio's largest thrift institution.
• The bank operates 96 offices in a 13-county area of Ohio, serving various markets including Greater Cleveland, Akron, Canton, Toledo, Youngstown, and Portsmouth.

Statistics:

• 2 branch offices acquired from the Resolution Trust Corporation (former TransOhio Savings Bank)
• 6,286 square feet of floor space (total)
• 2 drive-up windows
• Completion of the purchase expected in the second quarter
• Charter One operates 96 offices in a 13-county area of Ohio
• Total assets: $6.1 billion
• 44 offices in the Greater Cleveland area

Sources:

• PRNewswire, March 16 /PRNewswire/ -- Charter One Financial, Inc. (COFI)

(Note: The source date is provided as March 16, which is mentioned in the original text)