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STANDARD FEDERAL BANK REPORTS MONTHLY FINANCIAL HIGHLIGHTS

 TROY, Mich., Nov. 9 /PRNewswire/ -- Today, Standard Federal Bank (NYSE: SFB) reported the following selected financial data on its operations for the month ended Oct. 31, 1993:
 At
 Oct. 31, Dec. 31, Oct. 31,
 1993 1992 1992
 (Dollars in Thousands)
 SELECTED FINANCIAL DATA:
 Total assets $9,806,578 $9,544,731 $9,706,513
 Investment securities 478,279 543,149 625,498
 Mortgage-backed securities 2,512,163 3,175,781 3,411,171
 Loans receivable 6,286,584 5,235,399 5,066,852
 Deposits 6,745,351 6,527,603 6,407,236
 Borrowings 1,999,838 2,081,312 2,209,084
 Loan servicing portfolio 2,974,801 3,615,238 3,771,861
 Total allowance for
 loan losses 29,100 27,700 25,530
 Number of employees (FTE's) 2,253 2,221 2,203
 Weighted average rate on
 deposit portfolio(A) (pct) 3.82 4.11 4.22
 Ratio of nonperforming assets
 to total assets (pct) 0.70 0.75 0.81
 Ratio of nonperforming assets
 (net of reserves) to total
 assets (pct) 0.41 0.46 0.54
 One-year repricing gap as a
 percentage of total
 assets(B) (pct) +8.00 +11.05 +13.78
 (A) 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.
 (B) The percentage reported as of Oct. 31, 1993, is an estimate of the bank's repricing position. The amounts for both Dec. 31, 1992, and Oct. 31, 1992, have been restated from prior periods' disclosures to reflect Standard Federal's recent change in assumptions concerning the maturities of those FHLB advances which contain a call provision at Standard Federal's option.
 For the Month of Oct. Year-to-Date Through Oct.
 1993 1992 1993 1992
 (In Thousands)
 DEPOSIT PORTFOLIO ACTIVITY:
 Net customer deposits
 (withdrawals) ($10,074) ($95,566) $61,972 ($170,357)
 Deposits acquired from
 merger/branch
 purchases --- --- 4,546 170,549
 Interest credited
 to deposits 11,953 12,298 207,717 218,494
 Sales of deposits --- --- (56,487) ---
 Net increase (decrease)
 in deposit portfolio $1,879 ($83,268) $217,748 $218,686
 Total increase (decrease)
 as a percentage of
 beginning deposits (pct) --- -1.3 3.3 3.5
 For the Month of Oct. Year-to-Date Through Oct.
 1993 1992 1993 1992
 (In Thousands)
 MORTGAGE LOAN ACTIVITY:
 Total volume of
 loan closings
 Residential $382,613 $376,125 $3,316,090 $2,956,014
 Apartment --- 1,000 2,324 1,305
 Commercial --- --- 5,650 1,105
 Total loan closings 382,613 377,125 3,324,064 2,958,424
 Loans acquired from
 mergers --- --- --- 149,940
 Loans securitized
 and sold (110,701) (231,299) (743,900)(1,026,276)
 Loans repaid, net (198,519) (155,105) (1,516,196)(1,028,494)
 Net increase (decrease)
 in mortgage loan
 portfolio $73,393 ($9,279) $1,063,968 $1,053,594
 For the Month of Oct. Year-to-Date Through Oct.
 1993 1992 1993 1992
 (In Thousands)
 MORTGAGE LOAN CLOSINGS
 DATA:
 Loan type closed as a
 percentage of total
 loans closed:
 30-year fixed-rate 31 32 29 34
 15-year fixed-rate 36 48 36 44
 10-year fixed-rate 13 N/A 12 N/A
 Balloons 12 9 14 8
 Adjustable-rate 8 11 9 14
 Total 100 100 100 100
 Average yield on
 loans closed:
 30-year fixed-rate 7.11 8.30 7.68 8.70
 15-year fixed-rate 6.68 7.93 7.26 8.35
 10-year fixed-rate 6.45 N/A 6.95 N/A
 Balloons 6.25 7.85 6.92 8.36
 Adjustable-rate 5.75 6.75 6.15 7.19
 Total 6.65 7.92 7.19 8.31
 For the Month of Oct. Year-to-Date Through Oct.
 1993 1992 1993 1992
 WEIGHTED AVERAGE RATES:
 Yield on earning
 assets (pct) 7.48 8.21 7.74 8.54
 Cost of interest-bearing
 liabilities (pct) 4.67 5.42 4.88 5.94
 Interest rate
 spread (pct) 2.81 2.79 2.86 2.60
 Net interest margin
 on average earning
 assets (pct) 2.95 2.97 3.10 2.85
 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- 11/9/93
 /CONTACT: Joseph Krul, senior vice president and chief financial officer, stockholder relations of Standard Federal Bank, 313-643-9600/
 (SFB)


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

JG -- DE015 -- 2258 11/09/93 13:03 EST
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