Charter One Financial, Cleveland, has agreed to acquire Alliance Bancorp, the holding company forLiberty Federal Bank, Hinsdale, Ill., in a deal valued at $245 million. The transactionwill use the purchase method of accounting. Charter One already has a presence in the Chicago area through itslate 1999 acquisition of St. Paul Federal Bank. It still uses the St. Paul name in the Chicago area. Accordingto the Mortgage Industry Sourcebook 2001, Liberty Federal isthe nation's 208th-largest home improvement lender, with volume of $13.9 million. It is also the nation's 75th-largestmultifamily lender, with volume of $73.9 million. Charter One finished 1999 as the nation's 39th-largest residentialoriginator, with volume of $5.7 billion.
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