Charter One in Deal for St. Paul Bancorp

Charter One Financial, Inc. said late Monday that it would buy St. Paul Bancorp, Inc., for $1.2 billion. The $6 billion-asset St. Paul, based in Chicago, has been a takeover target for the past year because of sluggish returns and depressed earnings. Harry Keefe, St. Paul's largest shareholder, has been agitating for a sale since last fall.

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