[LOGO]





                                 March 21, 1997


Dear Stockholder:

    Enclosed is Standard Financial's 1996 Annual Report to Stockholders. Also 
enclosed is a press release, dated March 17, 1997, announcing the agreement 
to merge Standard Financial with TCF Financial Corporation. As described in 
the release, Standard Financial stockholders may elect to receive, subject to 
overall limitations on the percentages of cash and stock available to 
stockholders, cash, TCF common stock or some combination thereof. The exact 
exchange ratio of TCF shares for Standard Financial shares will depend upon 
the average trading price of TCF stock during the 30 trading days preceding 
the merger. For example, if the average trading price of TCF stock during 
that period is between $43.75 and $47.75, each Standard Financial share will 
be converted into the right to receive consideration having an aggregate 
value between $24.69 and $25.81. The receipt of TCF shares will be tax free 
to Standard Financial stockholders.

    The proposed merger with TCF is subject to the approval of the Standard 
Financial stockholders and certain regulatory filings and approvals. Standard 
Financial will call a special meeting of the stockholders in the next few 
months to vote on the merger. Because of this special meeting of the 
stockholders, the 1997 Annual Meeting has been postponed. Proxy materials for 
the special meeting detailing the background and specific terms of the 
proposed merger will be sent at a later date.

    We will keep you posted on developments.



                                        David Mackiewich
                                        President, Chief Executive Officer
                                        and Chairman of the Board