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STANDARD FEDERAL BANK LENDS $1 BILLION IN THREE MONTHS

 STANDARD FEDERAL BANK LENDS $1 BILLION IN THREE MONTHS
 TROY, Mich., April 9 /PRNewswire/ -- Standard Federal Bank


(NYSE: SFB) announced that as of April 7, 1992, it had closed approximately 13,500 single-family home mortgage loans for a total of $1,001,082,168 in loans closed this year. This volume of mortgage loan originations is the highest ever in the bank's 99-year history for a period of a little over three months.
 This activity exceeds 1991's record-setting pace of $1 billion in home mortgage originations in the first eight months. In 1990, Standard Federal was the first Michigan-based lender ever to originate $1 billion in home mortgage loans in a 12-month period.
 "Our high volume is the result of a large number of refinances fueled by low interest rates early in the year," noted Thomas R. Ricketts, chairman and president of Standard Federal Bank. "We are now seeing an increase in new home purchases throughout all of the markets that we serve and anticipate that we will continue our record-setting pace for the remainder of the year."
 Standard Federal Bank, headquartered in Troy, is Michigan's leading home mortgage lender and the Midwest's largest thrift with total assets of over $9.5 billion. The bank operates 120 branch offices in Michigan, Indiana and Ohio.
 -0- 4/9/92
 /CONTACT: William R. Yaw Jr. 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:


JG -- DE037 -- 6923 04/09/92 16:14 EDT
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Publication:PR Newswire
Date:Apr 9, 1992
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