Two activist shareholders have raised the stakes in a battle over a small Chicago thrift by announcing plans to run for seats on its board.

Paul J. Duggan nominated himself and Vincent Cainkar, a lawyer from Burbank, Ill., to the six-member board of $122 million-asset PS Financial Inc. last week. The two are members of an investor group that controls 20.3% of PS Financial's stock and asserts that the thrift is underperforming and should be sold.

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