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STANDARD FEDERAL BANK REPORTS MAY LENDING ACTIVITY

 STANDARD FEDERAL BANK REPORTS MAY LENDING ACTIVITY
 TROY, Mich., June 11 /PRNewswire/ -- Standard Federal Bank reported


that it closed 2,616 single-family home mortgage loans during the month of May for a total of $204,568,805 loans closed. Year to date, the bank has closed 19,506 home loans for a total of $1,482,775,365. The bank doubled its lending volume compared to the 8,385 loans closed for a total of $675,748,389 for the same five-month period in 1991.
 "1992 continues to be a record-breaking year for the bank," noted Thomas R. Ricketts, president and chairman of Standard Federal Bank, "and with interest rates holding at low levels, it continues to be an excellent time for consumers to refinance their current mortgage or to buy a new home."
 Standard Federal Bank (NYSE: SFB), headquartered in Troy, is Michigan's leading home lender and largest thrift with current assets of $9.7 billion. The bank operates 120 branch offices throughout Michigan, Indiana and Ohio.
 -0- 6/11/92
 /CONTACT: William R. Yaw Jr. of Standard Federal Bank, 313-643-9600, or 800-482-3930 (Michigan), or 800-874-3716 (Indiana)/
 (SFB) CO: Standard Federal Bank ST: Michigan IN: FIN SU:


KK -- DE017 -- 9357 06/11/92 15:24 EDT
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Publication:PR Newswire
Date:Jun 11, 1992
Words:207
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