A Pennsylvania bank is planning to test uncharted regulatory waters by asking federal regulators to let it buy a tiny mutual thrift and turn it into a bank branch.

Allentown-based Ambassador Bank of the Commonwealth is following up on what amounts to an invitation from the Office of Thrift Supervision to propose merger-conversions involving extremely small mutuals.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.