Part of the price tag for Bank of America Corp.’s purchase of Countrywide Financial Corp. are two state lawsuits accusing Countrywide of purposely deceiving borrowers into taking out risky loans they couldn’t afford, the Associated Press reported.

Shareholders have approved the acquisition, which was originally valued at $4 billion in stock but has slipped to about $2.8 billion in value as Bank of America’s stock price fell since January. The acquisition gives Bank of America control of 20 to 25 percent of the home loan market, which the company hopes to benefit from when the market improves.

Meanwhile, California and Illinois filed lawsuits on Wednesday, seeking unspecified damages and asking Countrywide to pay restitution to borrowers who lost their homes or loans. Washington Gov. Chris Gregoire also is accusing Countrywide of cheating his state out of $5 million by under-reporting assessments; the state could file a lawsuit soon.

Shares of Bank of America fell a penny yesterday to $26.61, while Countrywide shares fell 8 cents to $4.58, which is down nearly 90 percent from the stock’s five-year peak of $45.03 in February 2007.