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STANDARD FEDERAL BANK DECLARES AN 8-PERCENT INCREASE IN ITS REGULAR QUARTERLY DIVIDEND, FROM $0.12 PER SHARE TO $0.13 PER SHARE

 TROY, Mich., Jan. 21 /PRNewswire/ -- Thomas R. Ricketts, chairman and chief executive officer of Standard Federal Bank (NYSE: SFB), announced today that the board of directors of the bank has declared a regular quarterly dividend of $0.13 per share of common stock to stockholders of record on Feb. 15, 1993, payable March 1, 1993. This dividend represents an 8-percent increase over the bank's $0.12 per share dividend paid by the bank for each of the previous two quarters.
 This is the third increase in the bank's regular quarterly dividend in the last five quarters and reflects the bank's increasing levels of operating earnings and higher capital ratios. The bank will consider future dividend increases based upon future earnings and capital levels.
 -0- 1/21/93
 /CONTACT: Joseph Krul, senior vice president and chief financial officer, Stockholder Relations, 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: ERN

JG -- DE018 -- 7488 01/21/93 14:17 EST
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Publication:PR Newswire
Date:Jan 21, 1993
Words:171
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