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STANDARD FEDERAL BANK IS THE LEADING MORTGAGE LENDER FOR SOUTHEASTERN MICHIGAN

 STANDARD FEDERAL BANK IS THE LEADING MORTGAGE LENDER
 FOR SOUTHEASTERN MICHIGAN
 TROY, Mich., Aug. 6 /PRNewswire/ -- Standard Federal Bank (NYSE: SFB) announced today that it continues its leadership in home mortgage lending in the four-county area of Wayne, Oakland, Macomb and Washtenaw counties. According to the most recent Lawyer's Title Insurance Company report, the bank recorded 2,972 single-family residential mortgages of $250,000 and less, totaling $196,783,000 during May of this year. The bank's mortgage loan volume was more than the next three largest lenders combined.
 FINANCIAL INSTITUTION VOLUME SHARE OF MARKET
 Standard Federal Bank $196,783,000 19.10 percent
 Comerica Bank $70,028,000 6.80 percent
 Michigan National Bank $58,565,000 5.68 percent
 NBD Bank $55,893,000 5.42 percent
 "Record low interest rates continue to keep our mortgage volume high in all of the regions that we serve," noted Thomas R. Ricketts, chairman and president of Standard Federal Bank. "But, it is our commitment to provide our customers with the highest level of service that allows us to maintain our leadership position in the industry."
 Standard Federal Bank, headquartered in Troy, has current assets of $9.4 billion and operates 119 branch offices throughout Michigan, Indiana and Ohio.
 -0- 8/6/92
 /CONTACT: William R. Yaw Jr., marketing director, Standard Federal Bank, 313-643-9600, (in Michigan) 800-482-3930 or (in Indiana) 800-874-3716/
 (SFB) CO: Standard Federal Bank ST: Michigan IN: FIN SU:


SM -- DE018 -- 7518 08/06/92 10:38 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
Words:249
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