WHEATON, Md. - Equitable Federal Savings Bank said it had received Office of Thrift Supervision approval to convert to a federally chartered stock savings bank from a federally chartered mutual.

An offering of up to 600,000 shares was priced at $10 a share and will expire on Aug. 31, Equitable said. The shares are being offered to customers and the general public.

Equitable had assets of $192 million as of June 30, a spokesman said.

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