NEW YORK - Standard Federal Bank president and chairman Thomas R. Ricketts said the thrift holding company expects to report earnings of $3 a share for 1992, which includes 50 cents a share from a gain on the sale of mortgages.
Standard Federal earned $2.11 a share in 1991. For 1993, Mr. Ricketts projected operating earnings of $3.10 a share. The company, based in Troy, Mich., expects to continue raising its dividend as earnings improve and noted that any such increases would occur in January and July.
Mr. Ricketts said operating earnings should continue to improve as the company refunds relatively expensive debt. The bank is benefiting from the boom in mortgage refinancing, as well as a big increase in loan originations.