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CHARTER ONE FINANCIAL, INC. MONTHLY FINANCIAL HIGHLIGHTS

CLEVELAND, Nov. 22 /PR Newswire/ -- Charter One Financial, Inc. (Nasdaq: COFI), the holding company for Charter One Bank, F.S.B., reported the following selected financial data on its operations for the month ended October 31, 1996.

SELECTED FINANCIAL DATA AT MONTH END
 At
 10/31/96
 ($ in 000's)
 Total assets $13,814,987
 Cash & cash equivalents $256,833
 Investment securities 274,560
 Mortgage-backed securities 4,890,314
 Loans receivable 7,856,688


Portfolio of loans serviced
 for others 1,515,720


Common shares outstanding (net of
 699,572 treasury shares) 46,772,914


Deposits:
 Checking $814,053
 Savings 877,097
 MMDA 1,299,519


Certificates:
 6 month or less 627,297
 6 month to 1 year 1,416,784
 Jumbo 258,851
 Other 2,437,304
 Total CDs 4,740,236
 Total deposits $7,730,905


Borrowings:

Reverse repurchase agreements $1,543,511
 FHLB advances 3,172,699
 Other 208,239
 Total borrowings $4,924,449


Weighted average rates:
 Loans 8.02%
 MBS 7.18%
 Loans & MBS 7.70%
 Other investments 6.83%
 Total int-earn assets 7.66%
 Deposits 4.50%
 Borrowings 5.94%
 Total int-bear liabilities 5.06%
 Interest rate spread 2.60%
 Net yield on int-earn assets 2.89%


Nonperforming assets and allowance for loss
 Nonperforming loans $20,792
 Restructured loans 17,840


REO and other repossessed
 assets 11,939
 Total NPAs (as of 9/30/96) $50,571
 Allowance for loss $66,050
 Number of employees (FTEs) 2,535


SELECTED ACTIVITY FOR THE PERIODS ENDED
 One Month Ten Months
 Ended Ended
 10/31/96 10/31/96
 ($ in 000's)


Loan & MBS activity

Mortgage loan
 originations:
 Residential 1-4 $199,054 2,388,576
 Multifamily 2,233 33,510
 Commercial real estate 5,577 77,484
 Consumer loan 48,064 542,232
 Total $254,928 3,041,802
 Loans sold $3,781 56,668
 MBS purchased 0 567,104
 MBS sold 0 836,338
 Average yield on 7.34% 7.32%


residential loans

originated (excludes

impact of fees and

costs associated

with origination)

Deposit portfolio activity

Net increase (decrease):
 Checking ($8,623) 80,091
 Savings (17,382) (130,081)
 MMDA 45,478 470,432


Certificates:
 6 month or less (20,601) (28,239)
 6 months to 1 year (13,415) 246,781
 Jumbo (11,807) (211,223)
 Other 8,963 290,653
 Total CDs (36,860) 297,972


Net increase (decrease)
 in deposits ($17,387) 718,414


Interest credited to
 deposits included above $11,543 203,484


Total increase (decrease)

as a percentage of
 beginning deposits -0.22% 10.24%


The information presented herein reflects current operating statistics but does not necessarily constitute all factors affecting the quarterly or annual financial results of Charter One. This interim financial information is unaudited and may be adjusted in subsequent financial statements provided by the Company on a quarterly basis. Charter One makes no commitment to revise this information for changes in circumstances or events which may occur subsequent to the date of this release.

SOURCE Charter One Financial, Inc.
 -0- 11/22/96


/CONTACT: (Investors) Ellen L. Batkie of Charter One, 800-262-6301/

(COFI)

CO: Charter One Financial, Inc. ST: Michigan, Ohio IN: FIN SU:

SC -- DEF036 -- 5989 11/22/96 16:48 EST http://www.prnewswire.com
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Date:Nov 22, 1996
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