Charter One Financial Inc. said Tuesday that it would buy 14 branches, $400 million of deposits, and $120 million of commercial loans from Chittenden Corp. of Burlington, Vt.

The transaction, which would also include a $42.5 million, or 10.5%, deposit premium, would expand Charter One's presence in the state beyond the 12 branches it acquired last year in its deal for Albank Financial Corp.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.