American Banker

American Banker is a Monday to Friday daily trade newspaper owned and published by SourceMedia, Inc. American Banker is headquartered in New York, N.Y. and was first published in 1836. Readers of American Banker are primarily high ranking banking executives and those with billions of dollars in assets. Seventy percent of American Banker readers hold senior management positions and 66 percent come from financial institutions, with 55.8 percent of those working in the commercial and retail banking sectors. Twenty-one percent of the readership control assets totaling $50 billion and above. The newspaper is published across the United States.In the 1960s, then-editor William E. Zimmerman traveled around the United States reporting on the civil rights movement by asking African-Americans what they needed from the banking industry and in turn interviewing local bankers to find out what services they were providing for African-Americans.In 1988, American Banker reported that the Japanese have the 10 largest banks in the world and that the U.S. banks, for the first time in three decades, were knocked out of the top 25 due to the falling dollar. Citibank, the largest bank in the U.S. at the time, fell from the 17th largest bank in the world to 28th, with $101.1 billion in deposits.American Banker was also the first national publication to report extensively on the fall of Penn Square Bank in Oklahoma City. Marc Hochstein is the Executive Editor, John DelMauro is the Vice President and Group Publisher, Richard Melville is the Group Editorial Director, Banking, and John DeCesare is the Group Publisher.

Articles from Vol. 166, No. 70, April 11

1st Franklin Chief Says He's Game for Freddie Deal
An outspoken critic of Fannie Mae and Freddie Mac's expansion into the subprime market now says he is willing to become a "guarded partner" to Freddie. William D. Dallas, founder and chief executive of San Jose, Calif.-based First Franklin Financial...
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BankAtlantic, an Offbeat Thrift, Bets on Business Line Diversity
Already a prominent home lender, BankAtlantic Bancorp has suddenly become one of Florida's most prolific home builders. The thrift company entered the building business in late 1999 when it bought Levitt Corp. -- which was best known for developing...
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Countrywide Web Plans A Step Closer to Fruition: Shopping for Bank Charter, Home Lender Gets an OK for Deal
Countrywide Credit Industries Inc., which is trying to raise deposits to fund its branching out from home lending to other banking services, is one step closer to launching the Internet banking operation at the core of its diversification push. ...
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Deutsche Bank Gives Heft to Fledgling Web Exchange
Deutsche Bank Gives Heft To Fledgling Web Exchange Deutsche Bank AG has agreed to serve as the settlement agent for ITFex Ltd., a start-up company that is developing an online international trade finance exchange. The German banking company will...
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First Union Nearing Goal: 40% from Capital Group
After a period of restructuring that has included thousands of layoffs and the sale and closure of several business lines, First Union Corp. is looking to its capital management business as the revenue-generating jewel in its restructured organization....
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Franklin Opens Itself Doors in Closing Fiduciary Deal
Now that Franklin Templeton Investments has completed its purchase of Fiduciary Trust Company International, it has punched its ticket to the high-net-worth market, analysts say. The $825 million stock-swap deal, which was wrapped up Tuesday, combines...
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Huntington Hires Former Bank One Retail Delivery Chief
Huntington Bancshares, which recently replaced its chief executive officer after a period of disappointing earnings, has hired a former Bank One Corp. retail executive to lead efforts to improve service. Ronald C. Baldwin, who retired in February...
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In Brief: Insurance Agents' Top Lobbyist Quits
Paul A. Equale, chief executive officer of the Independent Insurance Agents of America, resigned Tuesday to devote himself to a new post with the Democratic National Committee. The group immediately named executive vice president Robert A. Rusbuldt...
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Institutional Investors Pass Banks in LBO Market Share
For the first time institutional investors surpassed banks during the first quarter in the amount of capital they committed to leveraged buyout lending, the latest sign that banks are tightening their purses and reserving their assets for the most...
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Pru Sues, but AIG Still Seen Likely to Get AmGen
Prudential PLC has sued to invalidate American International Group Inc.'s rival bid for Houston-based American General Corp., but analysts said they doubt the maneuver would work. The suit, filed late Monday in Texas State District Court, says American...
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Pushy Debit Card Issuers Ignite N.Y. City Council Ire
Two members of the New York City Council have asked state banking regulators to investigate banks' practices of mailing debit cards to people who did not ask for them, and to set guidelines about how banks should offer debit cards to consumers. ...
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Small-Business Advice: Focus on Deposits
The profits in small-business banking come from deposits, not loans, said bankers and consultants at a conference last week. Banks are focusing too much on loan volume as a measure of success in small business, they said at the Best Practices in...
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The Tech Scene: Vendors Band as 'Enablers' of E-Banking
For as long as banking has relied on computers, bankers have set up committees and roundtables where they set aside their competitive differences, collaborate on standards and policy, and kibbitz about matters of collective interest. Usually these...
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To Quell Lawsuit, FDIC Offers Clearer State Bank Definition
The Federal Deposit Insurance Corp. issued a technical proposal Tuesday in an effort to neutralize a court case that threatens to interfere with key credit card operations across state lines. The proposal came in response to a court case in Louisiana...
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With the Economy Shaky, Thrift Stocks Bounce Back
Thrift stocks are back in favor after falling out earlier this year when investors rushed into the higher-risk bank stock universe. Shares of savings banks ran up last year only to fall after the New Year on profit taking, analysts said. Now, with...
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