Collective Bancorp, a $4.9 billion-asset thrift based in Egg Harbor City, N.J., said it plans to file with federal regulators to switch from a savings to a commercial bank charter, the company's chief executive said.

The company expects to file the application with the Federal Deposit Insurance Corp., Federal Reserve, and Office of the Comptroller of the Currency within one month.

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.