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. 149, January 4

After 10 Years, the Last of Diversified Mountaineer Corp.'s Assets Are Sold
CHARLESTON, W.Va. -- One of the worst financial episodes in West Virginia history came to a close last month when the remaining assets of Diversified Mountaineer Corp. were sold. U.S. District Court Judge Dennis R. Knapp approved the sale of $3.44...
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CoreStates Restructures Its Assets: Company Redirects Money Market Deposit Account Funds
PHILADELPHIA -- Like many banks, CoreStates Financial Corp. was unsure about the characteristics of the money market deposit account when that instrument was introduced Dec. 20, 1982. In particular the banking company could not assess the new instrument's...
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In Piru, Where They Stick to Tradition, Bank of America Manages a Graceful Exit
PIRU, Calif. -- Citizens State Bank opened a branch in this ranching community Tuesday, but will wait until the town's next Christmas parade to hold its grand opening. Tht won't be long. The parade is scheduled for Jan. 14, five weeks after the...
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In Praise of the Effects of Marketing Follow-Through
Consider the fact that unless there were engineers, contractors, and subcontractors to follow blueprints and specifications and do the work, there would be no Empire State Building, no Transamerica Building, no Galleria, not even a Walt Disney World....
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Louisiana Multibank Forces See New Governor as Key Ally
NEW YORK -- With the March 10 inauguration of Edwin Edwards as governor of Louisiana, supporters of multibank holding companies hope to achieve what has long eluded them: the establishment of bigger banks able to meet the burgeoning demands of the...
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Maine to Look at Reciprocity Requirement
NEW YORK -- Maine lawmakers and banking officials this month will address a legal problem that is blocking the Bank of Boston Corp.'s proposed acquisition of Casco-Northern Corp., Portland, Maine. At issue is the reciprocity requirement in the state's...
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New Jersey Commissioner Approves Bank for Merrill
NEW YORK -- The New Jersey banking commissioner announced he has approved a charter for securities giant Merrill Lynch & Co. to form a commercial bank outside Princeton. Despite opposition from the local banking community, the commissioner,...
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Ohio Bankers Focusing on Renewal of Two Laws Due to Expire in '85
NEW YORK -- Ohio bankers, emerging from a long struggle over state taxation that culminated in a temporary standoff, have set their sights on two major legislative objectives. Confronting the bankers is the possible demise of two laws with "sunset"...
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Random Thoughts
The fourth quarter is shaping up as a singularly dull and perhaps even lugubrious earnings period. Year-over-year returns for most large banks are expected to be flat or down. The spread between prime and the Fed funds rate, which drives the net...
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Rustling Up a Big City Bank: Cowboy Bankers, Once Led by Grandpa Ferm, Are Now Rounding Up a Branch in Rapid City
RAPID CITY, S.D. -- Scott Clarkson is the third generation in a family of cowboy-bankers from Belle Fourche, S.D. "I'm no cowboy," he demurs. But he's not above a little rustlin' either, especially when it's from the spread of Citicorp. No sooner...
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Standard & Poor's Begins Ratings of Money Funds
NEW YORK -- Standard & Poor's Corp. began rating money market funds Tuesday. The rating agency announced evaluations for 14 money market funds, and said it will release additional ratings in the near future. "The new service judges the 'future...
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Two California Firms Are Offering Alternative to FSLIC-Backed Bonds
NEW YORK -- Two California firms last week launched a municipal bond product to replace the practice of insuring mortgage revenue bonds with guarantees from the Federal Savings and Loan Insurance Corp. The product, called the FMIS FISER FSLIC Alternative,...
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