Community First Bank of Lansing, Mich., doesn't want to wait and see what will happen to its federal thrift charter.

The small thrift is the first in an expected wave of federally chartered thrifts to apply for Michigan's new state savings bank charter. "We're in the capital city, and the state regulators live and work right here," said Robert Becker, president and chief executive of Community First. "We feel we can work well with them."

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