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. 161, No. 125, July 1

1st Chicago Weighs Selling Corporate Banking Units
First Chicago NBD Corp. is considering selling unprofitable parts of its corporate bank, bank officials told equity analysts last week at a private meeting in Chicago. A bank spokesman confirmed Friday that the company was examining ways to boost profitability...
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A Blow to Signature as State St. Garners Morgan, Citi Accounts
Two of Signature Financial Group's biggest bank clients have taken most of their fund administration business to archrival State Street Boston Corp., triggering speculation that more Signature clients will defect. Industry sources said J.P. Morgan &...
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AOL Card from 1st USA Offers Time as a Bonus
First USA Inc. and America Online Services Co. has launched a cobranded card that offers Internet users a break on browsing. America Online Visa is the first cobranded card to offer on-line rebates, and industry consultants say it will serve a growing...
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At Great Western, Outsourcing Supports Push into Checking
Bankers often refer to their check processing operations as factories, and the image fits. It's a noisy, complex business that involves daily check deliveries from branches, hungry reader-sorters, and legions of encoders that stamp the checks whizzing...
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Automation Gets a Look for Commercial Loan Decisions
Automation has wreaked havoc on traditional banking jobs. Machines do the work of tellers. Software helps make consumer and small-business credit decisions. The only bankers that appear safe from the onslaught of technology are commercial lenders. Or...
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Bankers Worry about Hong Kong's Future
One year from today, this bustling trade hub on the South China Sea will officially become a Chinese territory for the first time in nearly 150 years. In the United States, attention has been focused largely on the political squabbling between Britain...
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Banks with a Consumer Bent Show Surge in Short Interest
In another sign of the mounting concerns over credit quality, short selling in the stocks of banks with strong ties to consumers rose steeply in the four weeks ending June 14. Short interest in Bank of New York Co., which startled Wall Stret on June...
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CFI Rallies Its Forces for a Run at Branch Automation Market
CFI Proservices Inc. is known primarily as a maker of compliance software, but its top executives want that to change soon. The Portland, Ore., company has been on an acquisition spree - bringing nine companies into its fold in the last two years. ...
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Coin Dispenser, Wider Deposit Slot Said to Ease Merchant Transactions
A Canadian company is marketing devices designed to keep small-business customers from clogging teller lines with swollen deposit pouches and demands for coins. The Frisco Bay Industries products - a coin dispenser and a deposit machine that accepts...
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Conn. Expands Loan-Guarantee Program Statewide
A Connecticut program to encourage small-business lending is being expanded statewide. Three years after launching the Urban Banking Initiative, or Urbank, in the state's five largest cities, the Connecticut Development Authority is now making the loans...
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Credit Union Setback for Farm Credit System
An administrative law judge has denied the Farm Credit System's request for a credit union charter, ruling that its proposed field of membership was too broad. The decision is a victory for the banks that claimed a tax-exempt credit union run by a government-sponsored...
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Earnings Anticipation Hinders Tech Stocks
Bank technology stocks were mixed last week, reflecting investors' conservative anticipation of second-quarter earnings announcements. Analysts said June can be a trying time for technology stocks, since it ushers in the first indications of whether...
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Election-Year Politics at Root of Capital Push to Restrict ATM Fees
Election-year politics is threatening newly authorized fees on automatic teller machine users. In April, banks got the green light to add charges for noncustomers who use their ATMs. Proposals to limit the new fees popped up quickly on Capitol Hill....
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Fleet Mortgage Hires Chase's No. 2 Man to Replace Its Outgoing Chief Executive
In its search for the right formula to boost profits from residential lending, Fleet Mortgage Group is replacing its chairman with the No. 2 executive from another industry giant, Chase Manhattan Mortgage Corp. Gerald L. Baker, chairman of Fleet Financial...
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GAO Helps House Panel in Investigation of Top Credit Union Regulator
Congress has enlisted the General Accounting Office to bolster its investigation into allegations of mismanagement at the National Credit Union Administration. GAO officials have interviewed the agency's director, Shirlee P. Bowne, and former Director...
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Home Equity Wholesaler Gets into Retail, under New Name
RAC Financial Corp. has spent its 10 years in the home equity business building up to the summer of 1996. The Dallas-based loan wholesaler has decided it has already generated enough steam through correspondent lending and securitization efforts. Now,...
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Irish Eyes Smiling on Suburban Bank's N.Y. Foray
Three years ago, William Burke was happily heading Bank of Ireland's small retail operation in New York City. The 54-year-old native of Ireland had been recruited by the international bank in 1977, and had been steadily gaining prominence in the local...
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Many Banks Maintain Giving to Charity in Face of Mergers
Like other corporations, banks have long sought to cast themselves as good corporate citizens by giving time and money to charities and community activities. The commitment to charitable giving has not diminished at several large banks that merged in...
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NationsBank Corp. Sets Up Unit That Will Offer Secured Working-Capital Loans
NationsBank Corp. has created a unit to provide secured working capital to small businesses. NationsBanc Small Business Credit, which is part of the North Carolina banking company's factoring subsidiary, was organized to serve a niche the company says...
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New Top Cop at Chicago Fed Emphasizes Self-Regulation
There is a new sheriff at the Federal Reserve Bank of Chicago. John J. Wixted Jr. takes over today as senior vice president for supervision. The former top regulator at the Federal Reserve Bank of Cleveland now supervises Chicago's 210 examiners, who...
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Rate Outlook Muddy as Fed Policymakers to Meet
The outlook for interest rates remains muddled as bankers and investors await this week's gathering of Federal Reserve monetary policymakers. The Fed's Open Market Committee will likely do nothing about rates at its midyear meeting, which begins Tuesday,...
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Security Fears Temper Internet Business Gains, Study Finds
Bankers have come away from their early testing of the Internet both optimistic and wary, according to survey results being released today by consultants at Grant Thornton. Six out of 10 bankers surveyed this spring said they had attracted new customers...
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Swiss Bank Gains Efficiency Via Benchmarking Scrutiny
When Swiss Bank Corp. wanted to boost foreign exchange trading in New York, it faced a problem. Traders wanted to cut costs, but the back-office staff simply did not know how the operation stacked up against those of competitors. Swiss Bank scouted...
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Technology Advances Make Systems Decisions That Much Harder
U.S. commercial banks will spend nearly $18 billion on information technology this year. For an industry that is required to produce reams of financial reports, it is perhaps incongruous that there is no public information on where all this money goes....
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Temporary Jobs Claim More Downsized Professionals
Gary Goldstein has some bad news for bankers worried about losing their jobs to mergers or downsizings. "A lot more skilled professionals who are finding it very difficult finding permanent employment are being forced into taking temporary assignments,"...
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Top-Paid Bankers Took in 24% More Last Year
Managing banks in times of upheaval can certainly carry big rewards. The nation's 100 highest-paid bankers received 24% more in salary and bonuses last year than in 1994, according to a study prepared for the American Banker by SNL Securities, Charlottesville,...
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Wash. Mutual Said to Eye Deal for American Savings of Calif
Two of the nation's largest thrifts are in serious merger talks and may announce a deal within the next several weeks, according to well-placed sources. They said that Washington Mutual Bank, Seattle, has been negotiating for several months to acquire...
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Waterlogged Crops Hurt Upper Midwest Farm Borrowers
Farther south the problem is drought, but for many farmers in the Upper Midwest it's too much rain. Waterlogged fields have dealt another blow to the dairy farmers who predominate in the region and had already seen feed prices rise. "Every client that...
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Wells Picks Windows NT System to Save Millions at Trading Desk
Wells Fargo & Co. has long been known as a thrifty bank that deploys technology wisely. And the changes under way at the San Francisco-based bank's trading desk may advance that reputation. Wells Fargo is in the midst of installing systems to support...
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