Alliance Bancorp Announces Stockholder Approval of Merger Agreement With Charter One Financial.Business Editors HINSDALE, Ill.--(BUSINESS WIRE)--May 30, 2001 Alliance Bancorp (Nasdaq: ABCL ABCL American Birth Control League ABCL As Built Configuration List ABCL Amitabh Bachhan Corporation Limited ) today announced that stockholders have approved the Agreement and Plan of Merger with Charter One Financial, Inc. of Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. . Under the merger agreement, each share of Alliance Bancorp common stock is to be converted into the right to receive $5.25 in cash and 0.72 shares of Charter One Financial common stock. In addition to today's shareholder approval, the merger requires various regulatory approvals. The Federal Reserve Board has approved the merger, the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. has deemed the merger application complete, and all other regulatory steps have been accomplished. As a consequence, the merger is on track to be completed in early July. Alliance Bancorp is the holding company for Liberty Federal Bank, which will be merged into Charter One Bank, F.S.B. Charter One currently has 423 branch locations (436 after the net additions from Alliance) in Ohio, Michigan, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Illinois, Massachusetts, and Vermont. Their diverse products include: consumer banking, indirect auto finance, commercial leasing, business lending, commercial real estate lending, mortgage banking, and retail investment products. For additional information about Charter One, including press releases and investor presentations, investors are directed to their website: www.charterone.com. Alliance Bancorp's common stock trades on the Nasdaq National Market tier of the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol: ABCL. The common stock of Charter One Financial Inc. trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol: CF. Charter One has approximately $34 billion in total assets ($36 billion after the merger with Alliance), making it one of the 30 largest bank holding companies in the country |
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