STRATEGIC PARTNERS
January 1, 2002
TROY, Mich. -- When Standard Federal Bank and Michigan National Bank merge operations under the name Standard Federal Bank N.A. this fall, customers of the combined bank will have access to the largest ATM network in Michigan, as well as the most branch locations, according to a release issued by the two companies.
Standard Federal Bank and Michigan National Bank are subsidiaries of ABN AMRO North America, Inc.
Beginning October 9, the new Standard Federal Bank will operate approximately 300 branches and 850 ATMs in the state of Michigan. While the two institutions will not merge until the fall, customers of both Standard Federal Bank and Michigan National can already use any Standard Federal Bank, Michigan National or LaSalle Bank (ABN AMRO's Chicago-based subsidiary) ATM, free of surcharges or foreign fees.
Standard Federal Bank will close 29 Michigan National branches and consolidate 30 more this fall. According to the release, a consolidation occurs when two branches located within a short distance of one another are combined into one location. More than half of the closings/consolidations are within one mile of the next closest branch.
