Title Insurer Unit to Buy Charter One Sub

Capital Title Group Inc., a title insurance underwriter based in Scottsdale, Ariz., and Charter One Bank, Cleveland, have announced an agreement whereby a CTG subsidiary will acquire the assets of Real Estate Appraisal Services Inc., a wholly owned subsidiary of the bank.The terms of the deal were not disclosed. CTG's subsidiary CTG Real Estate Information Services will acquire REAS, a provider of appraisal and flood determination services for residential and commercial property in five states. "The vertical integration of REAS's current services with the technological support of Nationwide Appraisal Services, a CTG REIS subsidiary headquartered near Pittsburgh, will produce effective cost-saving synergies," CTG said. The companies can be found online at http://www.capitaltitlegroup.com and http://www.charterone.com.