Republic Bancorp of Ann Arbor, Mich., said last week that it will take a $30 million after-tax restructuring charge to complete its $286 million purchase of D&N Financial Corp.

Analysts said the figure represented an increase from Republic's estimate in December, when it announced that it would buy Troy, Mich.-based D&N. Republic then projected a pretax charge of $20 million to $30 million.

The change reflected Republic's writing off a little more real estate than expected, as well as the sale of some low-yielding fixed-rate securities and an additional $3.5 million added to its loan-loss reserve, Analysts said.

Bank analyst Michael M. Moran of Roney & Co. in Detroit said the extra charge was "realistic and conservative." He commended the company for making sure all of the costs of the deal are behind it.

Jerry D. Campbell, chairman and chief executive officer of Republic, said the charges will be taken in the second quarter. He said the company is still on track to meet its operating earnings estimates for the quarter.

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