TROY, Mich. -- Mackinac Financial Corp. and its subsidiary, Detroit Savings Bank, have officially merged into Standard Federal Bank, bringing the latter, the Midwest's biggest thrift, to about $11.6 billion of assets.
including Detroit Savings, Standard Federal also has 171 banking centers, 10 home-lending centers, and 273 automated teller machines in three states.
"Combining this profitable franchise with our own enables us to expand our customer base in the southeastern Michigan area, increase the number of accounts we serve, and further improve our operating efficiency," said Thomas R. Ricketts, chairman, president, and chief executive of Standard Federal.
