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. 173, No. 20, January 30

4Q Earnings: AMEX Volume Dip Continues; Slight Rise at Discover
American Express Co. said the sudden slowdown in spending growth on its cards that appeared in December has continued this month. Separately, Discover Financial Services said chargeoffs for its current fiscal year, which began Dec. 1, will be higher...
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Ala. National Passes 2ndrbc Centura Evaluation
As his company prepares to close its deal for Alabama National BanCorp, Royal Bank of Canada's top U.S. banking executive said he feels comfortable about the parent firm's growing credit exposure in the United States. On Tuesday and in a Jan. 17...
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Bank and Thrift Stocks
Highlights: Tuesday, January 29, 2008 Percentage Changes Computed from the indexes reported one, five and 20 days previous, respectively Value Day Week Month American Banker Bank Index: 2050.2 1.65 14.09 2.90 Thrift Index:...
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Bank Holding Companies with the Largest U.S. Consumer Loan Portfolios
On Sept. 30, 2007. Dollars in thousands Consumer loans as Total consumer loans Residential mortgage loans Home equity loans All other consumer loans % of total loans 3Q 2007 3Q 2006 Change 3Q 2007 3Q 2006 Change 3Q 2007 3Q 2006 ...
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Countrywide Loss Aside, B of A Calls Deal 'A Go'
Despite Countrywide Financial Corp.'s fourth-quarter net loss, which included a rise in delinquencies to one out of every three subprime loans, Bank of America Corp. said it is still intent on buying the bruised lender. After Countrywide reported...
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CU: Suit of IRS'A Test Case' on Insurance Tax
A Wisconsin credit union is pressuring the Internal Revenue Service to take a stand on whether income from sales of insurance products should be taxed. The $1 billion-asset Community First Credit Union in Appleton is suing the IRS in federal court,...
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Executive Changes
MIDWEST Citizens Financial Group Inc., a Providence, R.I., unit of Royal Bank of Scotland Group PLC, has hired R. Patricia Kelly as the executive vice president of commercial real estate finance for the Midwest. She will be based in Chicago, where...
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For New Northern Trust CEO, Megadeal Is Not an Option
Northern Trust Corp.'s new chief executive said he plans to use small acquisitions to expand domestically while opening offices to expand internationally. "Our expansion effort is going to focus on developing our global footprint and increasing...
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In Consumer Finance, Citi Sees Room, Reason to Grow
When Citigroup Inc. is measured against its biggest banking peers in the United States, it trails them in the breadth of its bank branch network On the consumer finance side, though, it is another story. At 2,500 offices, CitiFinancial, the company's...
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Key Policy Issues Linger as Stimulus Bill Advances
WASHINGTON -- Senate Democratic leaders pledged to keep two housing-related provisions in an economic stimulus package the House approved Tuesday 385 to 35, but also committed to take further action soon to alleviate the subprime crisis. The House...
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Loan Limits Now Look like GSE Bill Lever
WASHINGTON -- The conventional wisdom about the impact of a provision temporarily raising the conforming loan limit for Fannie Mae and Freddie Mac is shifting. Just last week many observers said the provision, included in the economic stimulus...
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No Problem? Peer Lenders Get Choosier
Individual lenders on peer-to-peer networks may not have the risk-management tools of bankers, but their decisions sometimes bear distinct resemblances to those of many financial services companies. At Prosper Marketplace Inc., the most notable...
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Security Watch
Inside Jobs The French banking company Societe Generale AG said it lost billions to a trader it labeled a fraudster, though two judges have declined requests to investigate him for fraud. Societe Generale accused Jerome Kerviel, 31, of hiding...
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