517:
295:
961:
973:
27:
157:. Standard moved to a larger building at the corner of Griswold and Larned Streets in 1914. It purchased land in 1927 and constructed its own headquarters at the northwest corner of Griswold and Jefferson in 1927. This lot was known as "the Cornerstone of Detroit", as it was the site of the first building ever raised in the city:
204:
adopted a Plan of
Conversion providing for the bank's conversion from a mutual to a stock institution. As of December 31, 1986, Standard Federal had 83 offices in 16 counties in Michigan and Indiana; 78 of which were full-service branches. The conversion from a mutual company to a publicly owned stock company listed on the
224:
On April 25, 1993, Standard
Federal celebrated its centennial. The bank stood as the largest thrift institution in the Midwest and the seventh largest in the United States, with assets of approximately $ 10 billion. In December of the same year, Standard made its largest single acquisition in history
199:
In the largest merger in
Standard Federal's history, it took control of American Federal Savings of Fort Wayne, First Federal Savings of Fort Wayne, Fort Wayne Federal Savings, and South Bend Federal Savings and Loan Association (all of Indiana) in November 1983. The following year, assets totaled $
245:
reached an agreement to purchase
Standard Federal Bancorporation for $ 1.9 billion; the acquisition completed on May 1, 1997. In 1996, Standard Federal was the largest savings bank in the Midwest, and the fourth largest bank in the State of Michigan. At December 31, 1996, Standard Federal's total
211:
Standard
Federal completed the acquisition of Tower Federal Savings Bank of South Bend (Indiana) on June 18, 1988. During 1989, the bank acquired two savings institutions in Michigan: First Federal Savings and Loan Association of Kalamazoo (originally known as the Kalamazoo County Building Loan
179:
applied for and received a federal charter in 1950. This expanded its lending powers and
Standard became known as Standard Federal Savings & Loan Association. The first branch office outside Detroit city limits opened in 1957 in suburban Royal Oak on North Woodward near 12 Mile Road. Assets
203:
On
January 1, 1985, the bank converted from a federally chartered mutual savings and loan association to a federally chartered mutual savings bank and changed its name from Standard Federal Savings and Loan Association to Standard Federal Bank. On August 28, 1986, the bank's board of directors
282:
for $ 21 billion, and a net sale of $ 16 billion after the return of $ 5 billion in excess capital. A consortium led by Royal Bank of
Scotland filed a legal challenge to the deal as ABN AMRO did not seek higher bids from other potential purchasers, however, the Dutch Supreme Court ultimately
152:
Standard
Federal began as Standard Savings & Loan Association; established on April 25, 1893, assuming the charter of the Workman's Savings and Loan Association. Offices opened in the basement of the old McGraw Building at the corner of Griswold and Lafayette in downtown
195:
It acquired Wayne
Federal Savings (Michigan) in 1975 and in 1980 First Federal Savings of Niles (Michigan) merged with Standard Federal. In 1981, it purchased Landmark Savings and Loan (Saginaw/Bay City, Michigan) and First Savings Association of Dowagiac (Michigan).
220:
market, gaining a significant presence in the northwest Ohio area through the acquisition of United Home Federal Savings and Loan Association of Toledo. It purchased First Federal Savings and Loan Association of Lenawee County, Adrian (Michigan) on August 8, 1992.
233:(Michigan). Other acquisitions include InterFirst Bankcorp (1993), Colonial Central Savings Bank (1994) and Fidelity Savings Bank (1996). Effective May 1, 1995, Standard Federal Bank reorganized as Standard Federal Bancorporation, Inc., a holding company.
172:. It weathered the 1929 stock market crash, and stayed open even as many Detroit banks and thrifts permanently closed after the 1933 bank holiday. The first branch office opened in 1948 on Grand River near Southfield Road in Northwest Detroit.
265:
On September 12, 2005, ABN AMRO and its American subsidiary LaSalle Bank Corporation officially changed the name of Standard Federal Bank N.A. to LaSalle Bank Midwest N.A. in what it called a "brand consolidation" instead of a merger with
192:(Michigan) merged with Standard Federal. Main offices moved to Birmingham on Woodward Avenue near Big Beaver Road. Total assets in 1973 reached $ 1 billion. In 1973, offices moved to a larger building in Troy at 2401 Big Beaver Road.
129:
In 2005, Standard Federal was the largest bank in Michigan based on number of retail branches (265), ATMs (more than 1,000) and deposits (US 23.3B, 15.06% market share); it ranked second in assets.
696:
257:
charter and the bank became Standard Federal Bank N.A., closing 59 overlapping branch offices and making Standard Federal Michigan's largest bank by the number of branch offices.
283:
approved the sale. Bank of America closed the purchase on October 1, 2007, and LaSalle Bank Midwest began doing business under the Bank of America brand on May 5, 2008.
246:
assets amounted to $ 15.7 billion, with total deposits of $ 11.0 billion, loans serviced for others of $ 10.5 billion and stockholders' equity of $ 956.8 million.
1004:
780:
1024:
1009:
616:
468:
391:
175:
Standard's name changes over the years reflected growth in its scope and capabilities. After 57 years as Standard Savings & Loan Association, the
1039:
863:
93:
Middle-Market Commercial Real Estate Lending, Domestic and International Cash Management Commercial Banking, Wealth Management, Retail Banking,
1034:
1014:
883:
818:
788:
158:
591:
341:
1029:
808:
798:
793:
208:
took place on January 28, 1987. This was one of the largest stock conversions by dollar amount in the history of the thrift industry.
888:
868:
848:
999:
835:
823:
813:
586:
893:
853:
843:
626:
571:
858:
828:
621:
873:
681:
651:
548:
461:
691:
636:
538:
496:
176:
976:
646:
606:
533:
491:
254:
226:
317:
165:
189:
965:
910:
744:
661:
596:
454:
543:
426:
370:
576:
205:
671:
250:
164:"Safety For Savings Since 1893"... an old Standard slogan that was never tested so severely as during the
941:
765:
716:
676:
631:
641:
611:
920:
601:
581:
323:
516:
355:
770:
749:
553:
898:
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1019:
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122:-based bank serving Michigan and Northern Indiana in the United States which was acquired by
436:
431:
230:
213:
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701:
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477:
375:
279:
123:
62:
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905:
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119:
100:
80:
993:
711:
406:
656:
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300:
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on October 1, 2007 and all branches were rebranded Bank of America on May 5, 2008.
141:
253:
and merged it into Standard Federal. The merged bank adopted the acquired bank's
915:
729:
686:
407:"Barclays moves closer to ABN Amro takeover after court rules on sale of US arm"
558:
290:
278:
On April 23, 2007, ABN AMRO announced the sale of LaSalle Bank Corporation to
26:
739:
242:
133:
107:
154:
270:-based LaSalle Bank N.A. to pool the two banks' marketing resources.
161:, built July 26, 1701. In that year assets surpassed $ 10 million.
446:
666:
217:
781:
American Security and Trust Company Building (Washington, D.C.)
450:
140:
in 2005. Bank of America purchased the bank and its parent
392:"Officials say MichNat, StanFed to keep Michigan identity"
318:"BOA to 'paint the town red' with LaSalle name change"
216:. On September 6, 1991, Standard Federal entered the
929:
758:
524:
484:
99:
87:
76:
68:
57:
49:
41:
33:
316:
344:(Press release). Bank of America. April 23, 2007.
212:Association) and Peoples Savings Bank, F.S.B. in
342:"Bank of America Agrees to Acquire LaSalle Bank"
462:
180:meanwhile amounted to $ 100 million in 1957.
8:
836:Bank of America Corporate Center (Charlotte)
19:
469:
455:
447:
18:
617:Farmers and Merchants Bank of Los Angeles
358:. Monroe Bank and Trust. August 2, 2017.
427:"LaSalle becomes Bank of America today"
308:
369:Schmeltzer, John (November 23, 1996).
766:555 California Street (San Francisco)
592:Citizens & Southern National Bank
336:
334:
7:
972:
1005:Defunct companies based in Michigan
1025:Defunct banks of the United States
136:acquired it, the bank was renamed
91:Middle-Market Commercial Lending,
14:
1010:Companies based in Troy, Michigan
697:Provident Institution for Savings
371:"Bank Acquisition Endangers Jobs"
971:
960:
959:
515:
390:Merx, Katie (February 5, 2001).
293:
25:
1040:1893 establishments in Michigan
627:First Republic Bank Corporation
572:Benj. Franklin Savings and Loan
405:Inman, Philip (June 27, 2007).
105:Standard Federal Bancorporation
1:
682:National Westminster Bank USA
652:Gibraltar Savings Association
227:Heritage Federal Savings Bank
1035:Banks disestablished in 2008
1015:Bank of America legacy banks
692:North Carolina National Bank
637:Fourth Financial Corporation
539:Bank of America, Los Angeles
497:Bank of America Private Bank
667:MBNA/Maryland National Bank
249:In 2001, ABN AMRO acquired
1056:
647:Gibraltar Savings and Loan
534:Banc of America Securities
492:Bank of America Home Loans
261:Rebranding to LaSalle Bank
190:Birmingham Federal Savings
1030:Banks established in 1893
955:
785:Bank of America Building
544:Bank of America NT&SA
513:
166:Wall Street Crash of 1929
24:
911:Hearst Tower (Charlotte)
745:Western Savings and Loan
662:Mercury Asset Management
597:Commercial National Bank
324:Crain's Detroit Business
184:Mergers and acquisitions
142:LaSalle Bank Corporation
1000:Banks based in Michigan
805:Bank of America Center
274:Sale to Bank of America
206:New York Stock Exchange
880:Bank of America Tower
840:Bank of America Plaza
672:Michigan National Bank
642:G. H. Walker & Co.
612:E. A. Pierce & Co.
587:Central Bank and Trust
251:Michigan National Bank
241:On November 21, 1996,
725:Standard Federal Bank
717:Security Pacific Bank
677:Montgomery Securities
607:Countrywide Financial
582:Cassatt & Company
356:"Deposit Marketshare"
116:Standard Federal Bank
20:Standard Federal Bank
750:White Weld & Co.
602:Continental Illinois
577:Boatmen's Bancshares
237:Purchase by ABN AMRO
138:LaSalle Bank Midwest
72:Bank of America N.A.
771:701 Brickell Avenue
554:Bank of New England
21:
707:Robertson Stephens
432:Grand Rapids Press
159:Ste. Anne's Church
95:Trust and Treasury
37:Financial Services
987:
986:
776:Albuquerque Plaza
327:. April 14, 2008.
113:
112:
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975:
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963:
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448:
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437:Associated Press
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170:Great Depression
29:
22:
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1044:
990:
989:
988:
983:
951:
937:Amadeo Giannini
925:
864:Fort Lauderdale
754:
702:Rainier Bancorp
526:
520:
511:
502:BofA Securities
480:
478:Bank of America
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389:
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376:Chicago Tribune
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280:Bank of America
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168:and subsequent
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126:on 5 May 2008.
124:Bank of America
106:
83:, United States
63:Bank of America
53:17 October 2008
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12:
11:
5:
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947:Brian Moynihan
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906:Boulder Towers
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899:St. Petersburg
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735:Summit Bancorp
732:
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689:
684:
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622:First Franklin
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439:. May 5, 2008.
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120:Troy, Michigan
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81:Troy, Michigan
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712:Seafirst Bank
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549:Bank of Italy
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255:national bank
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52:
48:
44:
40:
36:
32:
28:
23:
16:Michigan bank
977:
964:
921:Museum Tower
884:Jacksonville
724:
721:Shawmut Bank
657:LaSalle Bank
564:Barnett Bank
430:
421:
412:The Guardian
410:
400:
385:
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311:
301:Banks portal
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92:
77:Headquarters
61:Absorbed by
916:Miami Tower
819:Los Angeles
730:Sovran Bank
687:NationsBank
525:Historical
200:5 billion.
994:Categories
930:Executives
632:Fleet Bank
559:BankBoston
527:components
287:References
942:Ken Lewis
889:Manhattan
869:St. Louis
849:Charlotte
809:Baltimore
789:Baltimore
759:Buildings
740:Suretrade
485:Divisions
188:In 1970,
69:Successor
1020:ABN AMRO
966:Category
243:ABN AMRO
134:ABN AMRO
108:ABN AMRO
88:Products
34:Industry
978:Commons
894:Phoenix
854:Chicago
844:Atlanta
824:Norfolk
814:Houston
799:Oakland
794:Midland
568:Baybank
507:Merrill
268:Chicago
155:Detroit
148:History
50:Defunct
42:Founded
859:Dallas
231:Taylor
214:Monroe
177:thrift
132:After
118:was a
101:Parent
874:Tampa
829:Tulsa
218:Ohio
58:Fate
45:1893
229:in
996::
435:.
429:.
409:.
373:.
333:^
321:.
225:—
470:e
463:t
456:v
415:.
394:.
379:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
