<PAGE> SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 8, 1997
CHARTER ONE FINANCIAL, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-16311 34-1567092
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) No.)
1215 Superior Avenue, Cleveland, Ohio 44114
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (216) 566-5300
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ITEM 5. OTHER EXHIBITS
Attached as Exhibit 99.1 is the Registrant's press release dated
August 8, 1997 announcing the termination of its stock repurchase program.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
(c) The following exhibit is filed as part of this
Report:
99.1 Press release dated August 8, 1997.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by
the undersigned thereunto duly authorized.
CHARTER ONE FINANCIAL, INC.
Date: August 8, 1997 By: /s/ Robert J. Vana
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Robert J. Vana
Chief Corporate Counsel and
Secretary
EXHIBIT INDEX
Exhibit
Number Description
99.1 Press Release dated August 8, 1997.
<PAGE>
INVESTOR CONTACT: Ellen Batkie (800) 262-6301
MEDIA CONTACT: William Dupuy (216) 566-5311
CHARTER ONE RESCINDS STOCK REPURCHASE PROGRAM
IN CONJUNCTION WITH RCSB MERGER
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CLEVELAND, Ohio, August 8, 1997 -- Charter One Financial, Inc. (NASDAQ:COFI)
announced today that, in conjunction with its pending merger with RCSB
Financial, Inc. (NASDAQ:RCSB) which will be treated as a pooling of
interests for accounting purposes, it has formally rescinded its stock
repurchase program. Charter One had 865,458 shares remaining unpurchased
in its current 5% stock repurchase program, authorized by Charter One's
board of directors in May 1996. Charter one currently has 46.3 million
shares outstanding.
RCSB is a $4 billion savings bank holding company headquartered in
Rochester, New York. In addition to the merger with RCSB, Charter One
has a merger pending with Haverfield Corporation (NASDAQ:HVFD), a
$346 million savings bank holding company headquartered in Cleveland.
Charter One's principal subsidiary, Charter One Bank, has approximately
$14.6 billion in total assets and is one of the largest thrifts in the
country. Charter One has 175 branch locations: 95 branches in Ohio
operating under the name Charter One Bank and 80 branches in Michigan
operating under the name First Federal of Michigan. RCSB is the holding
company of Rochester Community Savings Bank which operates through 38
branches in Rochester and Buffalo, New York. Haverfield's principal
subsidiary, Home Bank F.S.B., operates out of 10 branches in the
Cleveland area.
