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)
June 8, 1999
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)
(216) 566-5300
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Registrant's telephone number, including area code
N/A
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
Attached as Exhibit 99 is the Registrant's press release dated June 8,
1999 announcing its intention to repurchase up to 6 million shares of
its outstanding common stock in a buy back program.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
The exhibit referred to in Item 5 of this Report and listed on the
accompanying Exhibit Index is filed as part of this Report and is
incorporated herein by reference.
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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: June 9, 1999 By: /s/ ROBERT J. VANA
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Robert J. Vana
Chief Corporate Counsel and
Secretary
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EXHIBIT INDEX
Exhibit
Number Description
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99 Press Release dated June 8, 1999.
INVESTOR CONTACT: ELLEN BATKIE (800) 262-6301
MEDIA CONTACT: WILLIAM DUPUY (216) 566-5311
CHARTER ONE AUTHORIZES 6 MILLION SHARE REPURCHASE
CLEVELAND, June 8, 1999 -- The Board of Directors of Charter One Financial, Inc.
(NASDAQ:COFI) today voted to authorize management to repurchase up to 6 million
shares of the Company's outstanding common stock in a buy back program. The
Company has approximately 166 million common shares outstanding.
It is anticipated that the Company will purchase these shares in systematic open
market or privately negotiated transactions. The repurchased shares will be
reserved in treasury for later reissue in connection with future stock dividends
as well as employee benefit plans.
The Company intends to rescind the buy back program prior to the close of its
merger with St. Paul Bancorp, Inc. (NASDAQ:SPBC), which is anticipated early
in the fourth quarter of 1999.
Charter One Bank has approximately $24.6 billion in total assets, making it
among the five largest thrifts in the country. The Bank currently has 340 branch
locations in Ohio, Michigan, New York, Massachusetts and Vermont. Additionally,
Charter One Mortgage Corp., the Bank's mortgage banking subsidiary, operates 40
loan production offices across 12 states, and Charter One Auto Finance, the
Bank's indirect auto finance subsidiary, generates loans in nine states.
The Company's press releases are available by telefax at no charge by calling
PR Newswire Fax On Demand. To retrieve a specific press release, call: (800)
758-5804 and reference account 313075. Additional information may be found at
the Company's web site: www.charterone.com.
