The Office of Thrift Supervision on Friday granted a charter to Excel Communications Inc., the nation's fifth-largest residential long-distance phone company.

Dallas-based Excel, which becomes a unitary thrift holding company, plans to open FirstExcel Federal Savings Bank by summer, after receiving Federal Deposit Insurance Corp. coverage.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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