1. A savings bank may merge with or convert its charter to that of a bank pursuant to the provisions of section 369.087, to the same extent as if it were an association.

2. A savings bank may exercise trust powers upon filing an application for trust powers and receiving the approval of the director pursuant to chapter 362.

3. The director’s powers in sections 361.260 to 361.269 and the procedures described in such sections shall apply to any savings bank and any director, officer, agent, employee or other person participating in the conduct of its affairs to the same extent such powers ^* and procedures apply to a bank and to any director, officer, agent, employee or other person participating in the conduct of such bank’s affairs.