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STANDARD FEDERAL BANKING CENTER IN DOWNTOWN MONROE TO CLOSE PERMANENTLY

 TROY, Mich., July 7 /PRNewswire/ -- Standard Federal Bank (NYSE: SFB) announced today that the Banking Center at 35 E. Front St. in downtown Monroe, Mich., will close permanently. The building which housed the Front Street Banking Center had been temporarily closed since May due to structural problems.
 Examinations of the structure by the bank and the municipal inspector have revealed a considerable state of deterioration. As a result, plans are for the building to be removed.
 All accounts from the Front Street Banking Center have been transferred to the Standard Federal Banking Center at 602 Monroe St. The staff of the Front Street Banking Center have been given other assignments in the Monroe area.
 "We believe that the Monroe-Sixth Banking Center, which is only a few blocks from the Front Street location, offers customers the opportunity to enjoy an improved level of convenience and service," said Raymond A. Smith, senior vice president and chief savings officer of Standard Federal.
 "The Monroe-Sixth facility has ample parking, a drive-up window and automated teller machine services, none of which were available at the Front Street Banking Center.
 "In addition," Smith said, "the Monroe-Sixth Banking Center has a larger customer service area and will even have some of the same people on board to wait on customers."
 Standard Federal Bank is the Midwest's largest thrift institution. The bank operates a network of full-service branch offices, automated teller machines and home lending centers in southern Michigan, northern Indiana and northwestern Ohio.
 -0- 7/7/93
 /CONTACT: William R. Yaw Jr., marketing director, Standard Federal Bank, 313-637-2520/
 (SFB)


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

SB -- DE007 -- 8988 07/07/93 10:03 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
Words:280
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