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STANDARD FEDERAL SETS RECORD FOR MONTHLY MORTGAGE ACTIVITY

 TROY, Mich., June 3 /PRNewswire/ -- Standard Federal Bank (NYSE: SFB) again set a record for mortgage lending volume by closing 6,263 single-family home mortgage loans during the month of May, 1992, for a total of $477,514,427. This is the highest level of lending volume for any month in Standard Federal's 100-year history. Standard Federal's record for May, 1993 reflects a 133-percent increase over last May's lending volume of $204,568,805.
 For the first five months of 1993, Standard Federal Bank has closed 18,790 home mortgage loans for $1,451,119,383.
 "The low interest rate environment continues to support our high mortgage lending activity," noted Thomas R. Ricketts, chairman and president of Standard Federal Bank. "Opportunities still exist for those homeowners who wish to refinance their existing mortgages as well as for those individuals and families who would like to buy a new home."
 Standard Federal Bank is by far the leading home mortgage lender in southeastern Michigan. In 1992, Standard Federal Bank closed $3,611,168,527 in home loans, and if current trends continue, Standard Federal Bank will match or exceed that figure in 1993.
 Headquartered in Troy, Standard Federal Bank is one of the Midwest's leading mortgage lenders. With approximately $9.8 billion in assets, the bank operates 123 branch offices and 190 automated teller machines in Michigan, Indiana and Ohio.
 -0- 6/3/93
 /CONTACT: William R. Yaw Jr., marketing director, Standard Federal Bank, 313-637-2520/
 (SFB)


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

DH -- DE032 -- 5117 06/03/93 15:23 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
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