Friday, January 17, 1964—THE DETROIT JEWISH NEWS—S
Strength,
Stability
and
Safety for Savings
since 1893
WE INVITE YOU to share in the strength, safety and substantial
earnings for your savings offered by Detroit's oldest and one of
America's largest savings and loan associations. We are pleased
to report that during 1963 Standard Federal Savings continued
its strong, healthy growth in assets, savings, mortgages and
reserves. Our total assets as of December 3I., 1963, were
$273,708,000, an increase of $41,276,000 over assets held as
of the same date the previous year. Our savings increased
$35,204,000 for the year, and we added more than $40,000,000
to our mortgage portfolio. Our already sizeable reserve funds
were increased by $1,502,000, and our present reserves total
7.88% of total savings—well above the requirements set by
federal supervisory agencies. Our present liquid assets total
over 17% of savings, a figure well in excess of supervisory re
quirements. We look forward to serving more people during
the coming year and have expanded our facilities to help our
savers enjoy the safety, convenience and profit of saving at
Standard Federal Savings.
Robert J. Hutton, President
STANDARD FEDERAL SAVINGS AND LOAN ASSOCIATION
141st semi-annual statement of condition
DECEMBER 31, 1963
LIABILITIES
ASSETS
Savings Accounts .•• • • ,• • • ....**0**0414.4
First Mortgage Loans
F. H. A.-Insured
G. I. Veterans' Loans
Standard Mortgage Loans
$
870,841.10
43,587.06
.
914,428.16
..
Stock in Federal Home Loan Bank
Standard Federal Buildings and
Equipment, Less Depreciation
TOTAL
Ili
• • ••IVO
Advances From Federal Home Loan Bank ...•••. r..
$221,949,222.08
346,169.19
121,930.01
Loans on Savings Accounts
Properties Sold on Land Contract
Real Estate Held for Redemption
Real Estate Owned
Cash on Hand and in Banks
U. S. Government and Federal
Agency Obligations
96,277,957.17
24,244,599.55
101,426,665.36
9,060,151.49
$246,091,123.41
3,000,000.00
0-**
483,640.86
Advance Payment by Borrowers
for Insurance and Taxes...sr-4.4,w Sai•••••tt-terti
L740,639.33
Liabilities • .....•-••• ■ •• 4•044 ■ 414-41.04414044,114-•••
81,677.84
Loans in Process •••••••••.
Other
04 • • 11-1•IF 0 4114 -•-•+4,1114. O.
N6,92224
Specific Reserves . *401144 *a ii•o oaots*••••
34,784,077.34
43,844,228.83
3,200,000.00
General Reserves
MOO
et•••••••
Surplus • • • f•.•• it*•/4-• * • • • •• ••
.4..4
17,366,242.55
2,018,540.98
19,384,783.53
2,165,564.10
1,167,244.84
. ,,," ..... $273,708,787.21
TOTAL
•••11411•••••••• ► •0••111••1•6••411•00•9
$273,708,787.21
IF..rl• ■ •••••.
MAIN OFFICE
GRISWOLD AND JEFFERSON
BOARD OF DIRECTORS
Walter J. L Ray
Chairman of the Board
CONVENIENT BRANCHES TO SERVE YOU
William H. Baldwin
Wilson R. Paxton
Oscar L. Bard
Edward A. Warnica
Robert J. Hutton
Robert F. Weber
James B. Ogden
Ormond S. Wessels
current
rate
Compounded and Paid
Four Times a Year