STURGIS, Mich., April 23 /PRNewswire-FirstCall/ -- Sturgis Bancorp, Inc. (OTC:STBI.OB) (BULLETIN BOARD: STBI.OB) , holding company for Sturgis Bank & Trust Company and its subsidiary Oak Mortgage, LLC, announced today Oak Mortgage, LLC was recently awarded Freddie Mac's prestigious 2007 Tier One Gold performance ranking for excellence in investor reporting and default management. Oak Mortgage was one of 26 mortgage servicing companies nationwide to meet this standard, according to Freddie Mac, one of the nation's largest investors in residential mortgages. There are approximately 1,500 lenders nationwide servicing loans for Freddie Mac. "To be in a group of 26 loan servicing companies achieving this high status, out of 1,500 companies, is a real honor. I am very proud of our staff. This is a testament to their commitment to quality. Attention to detail and following sound banking practices is part of our Bank's philosophy and commitment to our customers. This is one of the many differences you will find at Sturgis Bank & Trust Company and our subsidiary Oak Mortgage LLC," said Eric L. Eishen, President and CEO. Freddie Mac ranks its servicers each month on the basis of a wide range of performance activities, such as investor reporting, minimizing credit losses and helping delinquent borrowers avoid foreclosure. Servicers are ranked in four tiers ranging from Tier One (superior) to Tier Four (unacceptable), based on management of active and delinquent loans. Sturgis Bancorp is the holding company for Sturgis Bank & Trust Company, and its subsidiaries Oakleaf Financial Services, Inc. and Oak Mortgage, LLC. Sturgis Bancorp provides a full array of trust, commercial and consumer banking services from 12 banking centers in Sturgis, Bronson, Centreville, Climax, Coldwater, Colon, South Haven, Three Rivers and White Pigeon, Mich. Oakleaf Financial Services offers a complete range of investment and financial-advisory services. Oak Mortgage offers residential mortgages in all markets of the Bank. This release contains statements that constitute forward-looking statements. These statements regarding commitment of the board of directors and management and circumstances which "could" or "should" occur and statements and implications regarding the future financial performance of the company are forward-looking statements. Such forward-looking statements are not guarantees of future events or performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statement. The ability of the company and its subsidiaries to preserve well capitalized regulatory status, raise additional capital and identify and implement favorable strategic opportunities depend on future events and circumstances and are not assured. Factors that could cause a difference between an ultimate actual outcome and a preceding forward-looking statement include, but are not limited to, changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking laws and regulations; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; government and regulatory policy changes; the outcome of any pending and future litigation and contingencies; trends in consumer behavior and ability to repay loans; and changes of the world, national and local economies. Bancorp undertakes no obligation to update, amend or clarify forward-looking statements as a result of new information, future events, or otherwise. The numbers presented herein are unaudited. For additional information, visit our website at http://www.sturgisbank.com/ . DATASOURCE: Sturgis Bancorp, Inc. CONTACT: Eric L. Eishen, President & CEO, or Brian P. Hoggatt, CFO +1-269-651-9345, both of Sturgis Bancorp Web site: http://www.sturgisbank.com/

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