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STANDARD FEDERAL BANK REPORTS MONTHLY FINANCIAL HIGHLIGHTS

 TROY, Mich., Feb. 16 /PRNewswire/ -- Today, Standard Federal Bank (NYSE: SFB) reported the following selected financial data on its operations for the month ended Jan. 31, 1993:
 At
 Jan. 31, Dec. 31, Jan. 31,
 1993 1992 1992
 (Dollars in thousands)
 SELECTED FINANCIAL DATA:
 Total assets $9,594,737 $9,544,731 $9,524,493
 Investment securities 488,024 543,149 955,162
 Mortgage-backed securities 3,278,062 3,175,781 3,913,633
 Loans receivable 5,268,170 5,235,399 4,073,975
 Deposits 6,501,420 6,527,603 6,145,641
 Borrowings 2,190,220 2,081,312 2,460,396
 Weighted average rate on
 deposit portfolio(1) (pct) 4.07 4.11 5.33
 Ratio of nonperforming assets
 to total assets (pct) 0.77 0.75 0.79
 Ratio of nonperforming assets
 (net of reserves) to
 total assets (pct) 0.48 0.46 0.54
 One-year repricing gap as a
 percentage of total
 assets(2) (pct) +5.00 +5.58 -1.38
 (1) These rates represent the actual weighted average contractual rates paid to the bank's deposit customers, and exclude the impact of purchase accounting adjustments and interest rate exchange agreements.
 (2) The percentage reported as of Jan. 31, 1993, is a reasonable estimate of the bank's actual repricing position and may be subject to further revision.
 For the Month Ended
 Jan. 31,
 1993 1992
 (Dollars in thousands)
 DEPOSIT ACTIVITY:
 Net decrease in
 deposit portfolio ($26,183) ($42,909)
 Net decrease as a
 percentage of
 beginning
 deposits (pct) -0.40 -0.69
 Interest credited,
 included above $9,819 $10,877
 For the Month Ended
 Jan. 31,
 1993 1992
 (Dollars in thousands)
 MORTGAGE LOAN ACTIVITY:
 Dollar volume of residential
 loan closings $139,842 $199,057
 30-year fixed-rate
 loans closed as a
 percentage of total
 loans closed (pct) 33.60 38.40
 15-year fixed-rate
 loans closed as a
 percentage of total
 loans closed (pct) 34.80 47.70
 Balloon loans closed
 as a percentage of total
 loans closed (pct) 13.30 7.80
 Adjustable-rate loans
 closed as a percentage
 of total loans closed
 (pct) 18.30 6.10
 Average yield on
 30-year fixed-rate
 loans closed (pct) 8.32 8.81
 Average yield on
 15-year fixed-rate
 loans closed (pct) 8.00 8.54
 Average yield on balloon
 loans closed (pct) 7.79 8.66
 Average yield on
 adjustable-rate
 loans closed (pct) 6.50 7.25
 Securitized and sold ($37,118) ($93,785)
 Repaid, net ($63,736) (66,766)
 For the Month Ended
 Jan. 31,
 1993 1992
 (Dollars in thousands)
 WEIGHTED AVERAGE RATES:
 Yield on earning
 assets (pct) 7.99 8.75
 Cost of interest-bearing
 liabilities (pct) 5.17 6.33
 Interest rate spread
 (pct) 2.82 2.42
 Net interest margin
 on average earning
 assets (pct) 2.85 2.51
 The information presented herein reflects current operating statistics but does not necessarily constitute all factors affecting the quarterly or annual financial results of Standard Federal. This interim financial information is unaudited and may be adjusted in subsequent financial statements provided by the bank on a quarterly basis. Standard Federal makes no commitment to revise this information for changes in circumstances or events which may occur subsequent to the date of this release.
 -0- 2/16/93
 /CONTACT: Joseph Krul, senior vice president and chief financial officer, stockholder relations, Standard Federal Bank, 313-643-9600, or (Michigan) 1-800-482-3930, or (Indiana) 1-800-874-3716/
 (SFB)


CO: Standard Federal Bank ST: Michigan IN: FIN SU:

ML -- DE007 -- 6788 02/16/93 10:06 EST
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Date:Feb 16, 1993
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