Standard Federal and Michigan National to Operate Under The Name Standard Federal Bank After Systems Conversion

Financial Institutions Will Continue to Operate Separately Until Fall



Apr 02, 2001, 01:00 ET from Standard Federal Bank from ,Michigan National Bank

    TROY, Mich., April 2 /PRNewswire/ -- Standard Federal Bank and Michigan
 National Bank will operate as one entity under the Standard Federal Bank name
 and logo after they combine operating systems this fall.  Until the
 conversion, the two banks will operate under their existing names.  This
 follows today's announcement that ABN AMRO Bank N.V. (NYSE:   ABN) has completed
 its acquisition of Michigan National from National Australia Bank Limited
 (NYSE:   NAB).
     Commenting on the announcement, Standard Federal CEO Scott Heitmann said,
 "Both Standard Federal Bank and Michigan National Bank have solid reputations
 in the marketplace.  Choosing one brand over the other was a difficult, but
 critical step in creating a combined company that benefits from the individual
 strengths, diverse resources, and dedicated staffs of these two highly
 respected financial institutions."
     According to Mr. Heitmann, an important rationale for the decision was
 that the Standard Federal name is not limited by any geographic connotation.
 The combined company will have offices in Michigan, Indiana, and Ohio.
 Adopting the Standard Federal name for the combined company was also the most
 economically feasible option.
     To assist in the decision, independent research was conducted among
 commercial, municipal, and personal banking customers of both Standard Federal
 and Michigan National.  Research was also conducted among customers of other
 banks to test attitudes and awareness toward bank brands.
     Commenting on the research, Mr. Heitmann said, "The independent research
 showed that customers of both Standard Federal and Michigan National responded
 very favorably to a combined company operating under the Standard Federal
 name."
     While the two institutions will not merge until the fall, the following
 products and services will soon be available to customers of both banks:
 
     *  Beginning Tuesday, April 3, customers of both institutions may use any
 Standard Federal, Michigan National or LaSalle Bank (ABN AMRO's Chicago-based
 subsidiary) ATM, free of surcharges or foreign activity fees.  In Michigan,
 the combined network includes 873 ATMs, more than any single financial
 institution in the state.
     *  The industry-leading mortgage products of Standard Federal and the ABN
 AMRO Mortgage Group are now available to prospective mortgage customers at all
 Michigan National financial centers.
     *  Michigan National customers now have access to the convenient new
 MySites(TM) option, available at www.michigannational.com .  This account
 aggregation service, also available at Standard Federal and LaSalle Bank,
 offers people the ability to consolidate their personal online information
 from any of more than 2,000 Web sites, including sites that focus on financial
 services, travel, shopping, email, news and more.
 
     "Beginning today, customers of both banks are benefiting from Michigan's
 newest partnership," Mr. Heitmann said.  "More ATMs, access to world-class
 mortgage products and free online account aggregation will all make life a
 little more convenient for our customers."
 
     About Standard Federal Bank*
     Standard Federal Bank is Michigan's leading home mortgage lender and
 largest savings bank with $20.5 billion in assets and $12.3 billion in
 deposits.  Headquartered in Troy, Michigan, Standard Federal offers a complete
 range of retail and commercial banking products through 179 banking centers,
 13 home lending centers and 700 ATMs in Michigan, Indiana and Ohio.  ABN AMRO
 Mortgage Group, Inc., a wholly owned subsidiary of Standard Federal, is the
 nation's sixth-leading originator and tenth-leading servicer of home mortgage
 loans.  Standard Federal is located on the World Wide Web at
 www.standardfederalbank.com .
 
     About Michigan National*
     Michigan National provides diversified financial services and offers
 creative ideas and product options designed to help consumers and businesses
 meet their financial goals.  Headquartered in Farmington Hills, Michigan,
 Michigan National operates through a network of 182 financial centers, 338
 ATMs and a full-service call center.  Michigan National has assets of $12
 billion and ranked as the third-largest bank holding company in Michigan.
 Michigan National is located on the World Wide Web at www.michigannational.com
 
     *Standard Federal and Michigan National are scheduled to merge operations
 in the fall of 2001.  After the merger, the combined entity will operate as a
 full-service commercial bank under the name Standard Federal Bank, a wholly
 owned subsidiary of ABN AMRO North America, Inc.  The combined company will be
 Michigan's second-largest bank as ranked by assets.
 
 

SOURCE Standard Federal Bank; Michigan National Bank
    TROY, Mich., April 2 /PRNewswire/ -- Standard Federal Bank and Michigan
 National Bank will operate as one entity under the Standard Federal Bank name
 and logo after they combine operating systems this fall.  Until the
 conversion, the two banks will operate under their existing names.  This
 follows today's announcement that ABN AMRO Bank N.V. (NYSE:   ABN) has completed
 its acquisition of Michigan National from National Australia Bank Limited
 (NYSE:   NAB).
     Commenting on the announcement, Standard Federal CEO Scott Heitmann said,
 "Both Standard Federal Bank and Michigan National Bank have solid reputations
 in the marketplace.  Choosing one brand over the other was a difficult, but
 critical step in creating a combined company that benefits from the individual
 strengths, diverse resources, and dedicated staffs of these two highly
 respected financial institutions."
     According to Mr. Heitmann, an important rationale for the decision was
 that the Standard Federal name is not limited by any geographic connotation.
 The combined company will have offices in Michigan, Indiana, and Ohio.
 Adopting the Standard Federal name for the combined company was also the most
 economically feasible option.
     To assist in the decision, independent research was conducted among
 commercial, municipal, and personal banking customers of both Standard Federal
 and Michigan National.  Research was also conducted among customers of other
 banks to test attitudes and awareness toward bank brands.
     Commenting on the research, Mr. Heitmann said, "The independent research
 showed that customers of both Standard Federal and Michigan National responded
 very favorably to a combined company operating under the Standard Federal
 name."
     While the two institutions will not merge until the fall, the following
 products and services will soon be available to customers of both banks:
 
     *  Beginning Tuesday, April 3, customers of both institutions may use any
 Standard Federal, Michigan National or LaSalle Bank (ABN AMRO's Chicago-based
 subsidiary) ATM, free of surcharges or foreign activity fees.  In Michigan,
 the combined network includes 873 ATMs, more than any single financial
 institution in the state.
     *  The industry-leading mortgage products of Standard Federal and the ABN
 AMRO Mortgage Group are now available to prospective mortgage customers at all
 Michigan National financial centers.
     *  Michigan National customers now have access to the convenient new
 MySites(TM) option, available at www.michigannational.com .  This account
 aggregation service, also available at Standard Federal and LaSalle Bank,
 offers people the ability to consolidate their personal online information
 from any of more than 2,000 Web sites, including sites that focus on financial
 services, travel, shopping, email, news and more.
 
     "Beginning today, customers of both banks are benefiting from Michigan's
 newest partnership," Mr. Heitmann said.  "More ATMs, access to world-class
 mortgage products and free online account aggregation will all make life a
 little more convenient for our customers."
 
     About Standard Federal Bank*
     Standard Federal Bank is Michigan's leading home mortgage lender and
 largest savings bank with $20.5 billion in assets and $12.3 billion in
 deposits.  Headquartered in Troy, Michigan, Standard Federal offers a complete
 range of retail and commercial banking products through 179 banking centers,
 13 home lending centers and 700 ATMs in Michigan, Indiana and Ohio.  ABN AMRO
 Mortgage Group, Inc., a wholly owned subsidiary of Standard Federal, is the
 nation's sixth-leading originator and tenth-leading servicer of home mortgage
 loans.  Standard Federal is located on the World Wide Web at
 www.standardfederalbank.com .
 
     About Michigan National*
     Michigan National provides diversified financial services and offers
 creative ideas and product options designed to help consumers and businesses
 meet their financial goals.  Headquartered in Farmington Hills, Michigan,
 Michigan National operates through a network of 182 financial centers, 338
 ATMs and a full-service call center.  Michigan National has assets of $12
 billion and ranked as the third-largest bank holding company in Michigan.
 Michigan National is located on the World Wide Web at www.michigannational.com
 
     *Standard Federal and Michigan National are scheduled to merge operations
 in the fall of 2001.  After the merger, the combined entity will operate as a
 full-service commercial bank under the name Standard Federal Bank, a wholly
 owned subsidiary of ABN AMRO North America, Inc.  The combined company will be
 Michigan's second-largest bank as ranked by assets.
 
 SOURCE  Standard Federal Bank; Michigan National Bank

RELATED LINKS

http://www.michigannational.com