The Office of Thrift Supervision has approved Cleveland-based Charter One Financial Inc.'s proposed deal to acquire Haverfield Corp. and its subsidiary.

Haverfield's unit, Home Bank, has 10 branches in Cleveland totaling $346 million of assets. Home Bank's branches will be integrated into Charter Financial's Charter One Bank, assuming the deal closes in the third quarter.

The acquisition, announced April 23, was priced at $53.7 million in stock and is subject to approval by Haverfield's shareholders.

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