Schedule 13 G


Item 1    (a)  Charter Financial Inc.   
     (b)  114 West Broadway            
          Sparta, IL  62286         


Item 2    (a)  Corbyn Investment Management, Inc., et al.
     (b)  Suite 108
          2330 W. Joppa Road
          Lutherville, Maryland  21093  
     (c)  Incorporated in the State of Maryland
     (d)  Common Stock
     (e)  161225107

Item 3    (h)  The filer is a group consisting of an Investment Adviser
registered under Section 203 of the Investment Advisers Act of 1940 and
an Investment Company registered under Section 8 of the Investment
Company Act.


Item 4 N/A


Item 5    Reporting person has ceased to be the beneficial owner of more
than 5% of the class of securities.


Item 6    N/A


Item 7    N/A


Item 8    (a)  The group consists of an Investment Adviser registered
under Section 203 of the Investment Advisers Act of 1940 (IA) and an
Investment Company registered under Section 8 of the Investment
Company Act (IV).


Item 9    N/A





                   Schedule 13 G




Item 1    (a)  Charter Financial, Inc. 
     (b)  114 West Broadway       
          Sparta, IL  62286         


Item 2    (a)  Corbyn Investment Management, Inc.
     (b)  Suite 108
          2330 W. Joppa Road
          Lutherville, Maryland  21093
     (c)  Incorporated in the State of Maryland
     (d)  Common Stock
     (e)  161225107

Item 3    (e)  The filer is an Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940.


Item 4    N/A


Item 5    Reporting person has ceased to be the beneficial owner of more
than 5% of the class of securities.


Item 6    N/A


Item 7    N/A


Item 8    N/A


Item 9    N/A





                   Schedule 13 G




Item 1    (a)  Charter Financial, Inc.  
     (b)  114 West Broadway        
          Sparta, IL  62286          

Item 2    (a)  Greenspring Fund, Inc.
     (b)  Suite 110
          2330 W. Joppa Road
          Lutherville, Maryland  21093
     (c)  Incorporated in the State of Maryland
     (d)  Common Stock                 
     (e)  161225107


Item 3    (d)  The filer is an Investment Company registered under
Section 8 of the Investment Company Act.


Item 4    N/A


Item 5  Reporting person has ceased to be the beneficial owner of more
than 5% of the class of securities.


Item 6    N/A


Item 7    N/A


Item 8    N/A


Item 9    N/A











Item 10   By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of and
do not have the effect of changing or influencing the control of the issuer
of such securities and were not acquired in connection with or as a
participant in any transaction having such purposes or effect.


     After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.


January 6, 1998


Signature
Charles vK. Carlson, President
Name/Title


CUSIP No.  161225107     13G


1.  Name of Reporting Person
    SS Identification No. of Above Person

     Corbyn Investment Management, Inc. et al 
     n/a

2.  Check The Appropriate Box If A Member Of A Control Group (a) [x]
                                           (b) [ ]

3.  SEC Use Only

4.  Citizenship or Place of Organization

     Suite 108  2330 W. Joppa Rd.
     Lutherville, MD  21093   


Number Of 5.  Sole Voting Power
Shares              0
Beneficially   6.  Shared Voting Power
Owned By
Each      7.  Sole Dispositive Power
Reporting      0
Person With    8.  Shared Dispositive Power


9.  Aggregate Amount Beneficially Owned By Each Reporting Person
     0

10.  Check Box if the Aggregate Amount in Row (9) Excludes 
     Certain Shares [ ]

11.  Percent Of Class Represented By Amount In Row 9
     n/a

12.  Type Of Reporting Person
     00- Group Consisting of IA and IV







CUSIP No.  161225107     13G


1.  Name of Reporting Person
    SS Identification No. of Above Person

     Corbyn Investment Management, Inc.  
     52-0964322

2.  Check The Appropriate Box If A Member Of A Control Group (a) [x]
                                           (b) [ ]

3.  SEC Use Only

4.  Citizenship or Place of Organization

     Suite 108  2330 W. Joppa Rd.
     Lutherville, MD  21093   


Number Of 5.  Sole Voting Power
Shares              0
Beneficially   6.  Shared Voting Power
Owned By
Each      7.  Sole Dispositive Power
Reporting      0
Person With    8.  Shared Dispositive Power


9.  Aggregate Amount Beneficially Owned By Each Reporting Person
     0

10.  Check Box if the Aggregate Amount in Row (9) Excludes 
     Certain Shares [ ]

11.  Percent Of Class Represented By Amount In Row 9
     n/a

12.  Type Of Reporting Person
      IA 






CUSIP No.  161225107     13G


1.  Name of Reporting Person
    SS Identification No. of Above Person

     Greenspring Fund, Inc. 
     52-1267740

2.  Check The Appropriate Box If A Member Of A Control Group (a) [x]
                                           (b) [ ]

3.  SEC Use Only

4.  Citizenship or Place of Organization

     Suite 110  2330 W. Joppa Rd.
     Lutherville, MD  21093   


Number Of 5.  Sole Voting Power
Shares              0
Beneficially   6.  Shared Voting Power
Owned By
Each      7.  Sole Dispositive Power
Reporting      0
Person With    8.  Shared Dispositive Power


9.  Aggregate Amount Beneficially Owned By Each Reporting Person
     0

10.  Check Box if the Aggregate Amount in Row (9) Excludes 
     Certain Shares [ ]

11.  Percent Of Class Represented By Amount In Row 9
     n/a

12.  Type Of Reporting Person
      IV