Bank of America acquired Standard Federal Bank as part of a larger acquisition.
The Acquisition of Standard Federal Bank
Standard Federal Bank was bought out by Bank of America. This acquisition occurred when Bank of America purchased not only Standard Federal Bank itself but also its parent company, LaSalle Bank Corporation. The deal effectively consolidated Standard Federal's operations under the Bank of America umbrella, significantly expanding its presence, particularly in the Midwest.
Key Dates in the Transition
The transition of Standard Federal Bank into Bank of America unfolded over several months, marked by specific dates for the acquisition and subsequent rebranding:
| Event | Date |
|---|---|
| Acquisition Date | October 1, 2007 |
| Rebranding Complete | May 5, 2008 |
On October 1, 2007, Bank of America officially completed the purchase of LaSalle Bank Corporation, which included Standard Federal Bank. Following this, a major rebranding effort was undertaken across all branches. By May 5, 2008, all former Standard Federal Bank branches were completely rebranded and operating as Bank of America locations, signifying the full integration of their operations and services.
This strategic move allowed Bank of America to strengthen its market position and expand its customer base. For more detailed information on Standard Federal Bank's history and its acquisition, you can refer to its Wikipedia page.
