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STANDARD FEDERAL BANK, FIRST FEDERAL SAVINGS OF LENAWEE MERGER COMPLETED

STANDARD FEDERAL BANK, FIRST FEDERAL SAVINGS OF LENAWEE MERGER COMPLETED
 TROY, Mich., Aug. 7 /PRNewswire/ -- Effective Saturday, Aug. 8, First Federal Savings of Lenawee will be merged into Standard Federal Bank (NYSE: SFB).
 Thomas R. Ricketts, president and chairman of the board of Standard Federal Bank, said, "We are pleased to announce the merger of First Federal Savings of Lenawee into Standard Federal Bank. Combining this profitable franchise with our own enables us to significantly expand our customer base, the number of accounts we serve, and allows us to further increase our operational efficiencies."
 Headquartered in Troy, Standard Federal Bank is one of the Midwest's largest thrift institutions and is, by a large margin, the leading residential lender in Michigan. With the merger of First Federal Savings of Lenawee into Standard Federal, the bank now operates 125 branch offices and 186 automated teller machines (ATMs) located throughout southern Michigan, northern Indiana and northern Ohio. Its total checking and saving deposits now exceed $6.4 billion and its total assets now approximate $9.8 billion.
 -0- 8/7/92
 /CONTACT: William R. Yaw Jr. of Standard Federal Bank, 313-643-9600, 800-482-3930 (in Michigan), or 800-874-3716 (in Indiana)/
 (SFB) CO: Standard Federal Bank; First Federal Savings of Lenawee ST: Michigan IN: FIN SU: TNM


KR -- DE014 -- 8083 08/07/92 14:35 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
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