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STANDARD FEDERAL BANK AND HERITAGE BANKCORP, INC. MERGE

 TROY, Mich., Dec. 6 /PRNewswire/ -- Effective Saturday, Dec. 4, 1993, Heritage Bankcorp, Inc., was merged into Standard Federal Bank.
 Thomas R. Ricketts, chairman, president and chief executive officer of Standard Federal Bank, said, "We are pleased to announce the merger of Heritage Bankcorp, Inc. (NASDAQ-NMS: HEBC), and its principal operating subsidiary, Heritage Federal Savings Bank, 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, Michigan Standard Federal Bank (NYSE: SFB) 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 Heritage Federal Savings Bank into Standard Federal, the bank now operates 163 branch offices, 8 home lending centers and 214 automated teller machines (ATMs) located throughout southern Michigan, northern Indiana and northern Ohio. Its total checking and savings deposits now exceed $7.6 billion and its total assets now approximate $10.8 billion.
 -0- 12/6/93
 /CONTACT: Joseph Krul, senior vice president and chief financial officer of shareholder relations of Standard Federal Bank, 313-637-2530/
 (SFB HEBC)


CO: Standard Federal Bank; Heritage Bankcorp, Inc. ST: Michigan IN: FIN SU: TNM

KE-KT -- DE007 -- 0680 12/06/93 10:17 EST
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Publication:PR Newswire
Date:Dec 6, 1993
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