Standard Federal Bank said Friday that the cessation of gains from mortgage sales lowered fourth-quarter earnings by roughly $600,000, to $30.3 million, despite a 10.7% increase in total assets.

The $12.1 billion-asset thrift, based in Troy, Mich., said annualized quarterly returns equaled 1.01% on average assets, down 19 basis points from a year ago; and 15.15% on average equity, down 260 basis points.

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