NEW YORK - The Office of Thrift Supervision on Monday approved the merger between Dime Bancorp and Anchor Bancorp.

The merger is expected to be completed in January.

Following the merger, Dime will be the fourth-largest publicly. traded thrift in the country, with more than $20 billion in assets.

Under the terms of the merger, each share of Anchor common stock will be converted into 1.77 newly issued shares of the merged company.

Each share of Dime common stock will be converted into one new share of the merged company.

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