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STANDARD FEDERAL BANK REPORTS MONTHLY FINANCIAL HIGHLIGHTS

 TROY, Mich., Aug. 11 /PRNewswire/ -- Today, Standard Federal Bank (NYSE: SFB) reported the following selected financial data on its operations for the month ended July 31, 1993:
 At
 July 31, Dec. 31, July 31,
 1993 1992 1992
 (In Thousands)
 SELECTED FINANCIAL DATA:
 Total assets $9,858,336 $9,544,731 $9,591,506
 Investment securities 502,851 543,149 883,502
 Mortgage-backed securities 2,798,179 3,175,781 3,530,679
 Loans receivable 5,981,864 5,235,399 4,588,841
 Deposits 6,770,251 6,527,603 6,260,336
 Borrowings 2,030,944 2,081,312 2,312,540
 Weighted average rate on
 deposit portfolio(1) (pct) 3.89 4.11 4.55
 Ratio of nonperforming assets
 to total assets (pct) 0.69 0.75 0.84
 Ratio of nonperforming assets
 (net of reserves) to total
 assets (pct) 0.42 0.46 0.60
 One-year repricing gap as a
 percentage of total
 assets(2) (pct) +0.50 +5.58 +6.61
 (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 July 31, 1993, is a reasonable estimate of the bank's actual repricing position and may be subject to further revision.
 For the Month of July Year-to-Date Through July
 1993 1992 1993 1992
 (In Thousands)
 DEPOSIT ACTIVITY:
 Net increase in
 deposit portfolio $134,490 $135,337 $242,648 $71,786
 Total increase as a
 percentage of beginning
 deposits (pct) 2.0 2.2 3.7 1.2
 Interest credited,
 included above $10,671 $10,149 $140,810 $145,048
 Sales of deposits,
 included above ($56,487) --- ($56,487) ---
 For the Month of July Year-to-Date Through July
 1993 1992 1993 1992
 (In Thousands)
 MORTGAGE LOAN ACTIVITY:
 Dollar volume of
 residential loan
 closings $319,029 $206,872 $2,192,547 $1,875,582
 Dollar volume of
 apartment loan
 closings --- --- 324 200
 Dollar volume of
 commercial loan
 closings --- --- 5,650 1,105
 Total loan closings $319,029 $206,872 $2,198,521 $1,876,887
 30-year fixed-rate
 loans closed as a
 percentage of total
 loans closed (pct) 31 38 28 34
 15-year fixed-rate
 loans closed as a
 percentage of total
 loans closed (pct) 31 36 36 42
 10-year fixed-rate
 loans closed as a
 percentage of total
 loans closed (pct) 12 N/A 11 N/A
 Balloon loans closed as a
 percentage of total
 loans closed (pct) 15 9 15 8
 Adjustable-rate loans
 closed as a percentage
 of total loans
 closed (pct) 11 17 10 16
 Average yield on
 30-year fixed-rate
 loans closed (pct) 7.59 8.50 7.88 8.90
 Average yield on
 15-year fixed-rate
 loans closed (pct) 7.19 8.13 7.42 8.61
 Average yield on
 10-year fixed-rate
 loans closed (pct) 7.03 N/A 7.16 N/A
 Average yield on balloon
 loans closed (pct) 6.89 8.15 7.08 8.62
 Average yield on
 adjustable-rate
 loans closed (pct) 6.00 7.00 6.28 7.33
 Securitized
 and sold ($124,412) ($116,869) ($476,932) ($678,132)
 Repaid, net ($133,919) ($78,794) ($965,350) ($628,182)
 For the Month of July Year-to-Date Through July
 1993 1992 1993 1992
 WEIGHTED AVERAGE RATES:
 Yield on earning
 assets (pct) 7.69 8.48 7.81 8.61
 Cost of interest-bearing
 liabilities (pct) 4.84 5.98 4.96 6.13
 Interest rate
 spread (pct) 2.85 2.50 2.85 2.48
 Net interest margin
 on average earning
 assets (pct) 3.13 2.83 3.10 2.79
 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- 8/11/93
 /CONTACT: Joseph Krul, senior vice president and chief financial officer, stockholder relations, Standard Federal Bank, 800-643-9600/
 (SFB)


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

SB -- DE010 -- 1717 08/11/93 13:10 EDT
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Date:Aug 11, 1993
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