TROY, Mich. - Standard Federal Bank said it agreed to sell two Michigan offices and related deposits to United Bank and Trust of Tecumseh, Mich.
The sale is subject to approval from regulators. The parties expect to receive approval by December.
The offices are in Clinton and Morenci, Mich., and were recently acquired by Standard Federal when it purchased the former First Federal Savings and Loan Association of Lenawee County, Mich.
The First Federal merger was effective Aug. 8, bringing Standard Federal to $9.8 billion in assets, 125 branches, and 186 automated teller machines in southern Michigan, northern Indiana, and northern Ohio.