SOUTH RIVER, N.J. - Pulse Bancorp Inc. said its subsidiary, $339 million-asset Pulawski Savings Bank, has obtained all necessary approvals to convert its state savings and loan charter to that of a savings bank.

The state-chartered savings bank will still be called Pulawski Savings Bank.

The company said it changed the charter to reduce regulatory compliance costs. It has reduced its number of regulators to two from three and will no longer be subject to the primary supervision of the Office of Thrift Supervision.

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