Green Point Savings Bank's decision to go public followed a bitterly divisive internal debate that led to the resignation of the thrift's chief executive, according to well-placed sources.

Michael J. Gagliardi, a well-regarded manager who had headed the prosperous Brooklyn, N.Y. savings bank since 1989, left in April, just one month before Green Point announced its plans to switch from mutual to stock ownership. Sources say Mr. Gagliardi was either fired or forced to resign because of his opposition to the plan.

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