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STANDARD FEDERAL BANK'S MANAGEMENT KNOWS OF NO REASON FOR RECENT STOCK PRICE WEAKNESS

 STANDARD FEDERAL BANK'S MANAGEMENT KNOWS OF NO REASON
 FOR RECENT STOCK PRICE WEAKNESS
 TROY, Mich., Aug. 21 /PRNewswire/ -- Thomas R. Ricketts, chairman and chief executive officer of Standard Federal Bank (NYSE: SFB), indicated today that the company knows of no reason for the recent weakness in the price of its stock.
 The company is having a record year in terms of net interest income, loan production and earnings. Analysts' estimates for the company's earnings for 1992 range from $2.75 per share to $3 per share, with a consensus at approximately $2.95 per share. Management agrees with the consensus estimate.
 -0- 8/21/92
 /CONTACT: Joseph Krul of Standard Federal Bank, 313-643-9600 or (in Michigan) 800-482-3930 or (in Indiana) 800-874-3716/
 (SFB) CO: Standard Federal Bank ST: Michigan IN: FIN SU:


SM -- DE021 -- 2233 08/21/92 15:37 EDT
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Publication:PR Newswire
Date:Aug 21, 1992
Words:140
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