Charles J. Hamm wants it known that Independence Savings Bank plans to stay a part of its working-class and immigrant community after its shift to shareholder ownership later this year.

"We make it quite clear in our prospectus that if you think the only priority in the conversion is maximizing shareholder value, that is not our priority. We are doing this to become a better community bank," said Mr. Hamm, who is chairman, president, and chief executive officer.

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