A Bronx-based community group said it had withdrawn its opposition to a move by Independence Savings Bank to convert from mutual to public stock ownership.

In return the $3.7 billion-asset thrift agreed to make $58 million in new loans to low-income areas of the Bronx, Brooklyn, and Manhattan, according to Inner City Press/Community on the Move.

The community organization said it would no longer oppose Independence's applications for the ownership change, which are pending before federal and state regulators.

In the agreement with Inner City Press/Community on the Move, Brooklyn- based Independence also said it would put two new ATMs or a full-service branch in either Upper Manhattan or the South Bronx.

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