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 May 20

An Economic Time Bomb in Cash-Out Refi Loans?
Some industry observers say they are getting nervous that borrowers' use of home equity to pay off credit cards last year could lead to trouble if there is a double-dip recession. Economists estimate that homeowners who refinanced their mortgages...
Banknorth Agency Deal to Get a Unit into New York
After a more than year-long hiatus, Banknorth Group has jumped back into the insurance agency acquisition fray with a deal that would carry the company's insurance operation into New York state. Banknorth of Portland, Maine, said Thursday that it...
Changes May Clear FDIC Reform Bill's Path: Brokers That Sweep Catch a Break; ABA Steps Aside, for Now
Two hurdles to deposit insurance reform disappeared Friday, at least temporarily, as a key lawmaker agreed to eliminate a controversial surcharge on fast-growing institutions and a major trade group said it would not contest the bill. Rep. Michael...
Discount-Window Access to Be Easier, More Costly
The Federal Reserve Board on Friday proposed changes to its discount window that would increase the cost of borrowing but ease the terms, and could lead to a more stable overnight funds market. Under the plan, discount window loans to healthy banks...
Foiled in NY State, Trustco Tries, Tries Again in Fla
Trustco Bank Corp., which has failed in several recent bids to acquire rival banks in upstate New York, has had no more success in Florida. The $2.7 billion-asset company has been cold-calling community banks in central Florida, but attorneys and...
Golden State, an Investor, and the Clock: Structure of Deals Preserves Profit Potential for Revlon's Chairman
New York businessman Ronald O. Perelman, the chairman of Revlon Inc. and a major shareholder in Golden State Bancorp, has been steadily reducing his position over the last two years. Generally, when a significant investor pulls back from a company,...
In Brief: Adelphia Misses Payments
Adelphia Communications Corp. said Friday that on May 15 it missed $38.2 million of interest payments on three sets of senior notes. Among the original underwriters were Credit Suisse First Boston; Citigroup Inc.'s Salomon Smith Barney; Bank of...
In Focus: Opponents Hope Sarbanes Will Bend on Analyst Rules
Opponents of cementing the new rules for investment banking analysts into law hope that Senate Banking Committee Chairman Paul Sarbanes will back down Tuesday, when his panel is scheduled to take up Enron Corp.-inspired legislation. The Maryland...
Is Okla.-Tex. Group Deal Start of Regional Trend?
After a 25-year dip in membership, the Community Bankers Association of Oklahoma is hoping a pairing with its Texas counterpart will reverse the trend -- and perhaps trigger a movement toward regional banking associations. James P. McKeown, executive...
MBNA on Move into Spain: The Numbers Were There
MBNA Corp. says it chose Spain as the first non-English-speaking country where it will issue cards because of its location in continental Europe, its relatively strong economy, and its demonstrated appetite for credit cards. "We looked at a variety...
'Natural' Changes at Jack Henry Called Unusual
Changes to the executive lineup at Jack Henry & Associates Inc. are raising some eyebrows among analysts who follow the company, but the provider of data processing software and services says that the moves are in line with its succession plan....
Preferred Issues: Gauging Impact of Shift from 'Operating' to 'Core'
When Standard & Poor's announced a new measurement method that will enable it to recalculate the earnings of all the companies it covers, including those in its S&P 500 index, Wall Street took notice. On Tuesday the New York ratings agency...
Washington People
Clueless Pity the witnesses at last Thursday's meeting of the House Judiciary commercial and administrative law subcommittee. In a hearing meant to debate a proposed rule that would allow banking companies to enter real estate brokerage, several...
Wells to Train Platform Reps as Brokers
Wells Fargo & Co. is training hundreds of its platform reps to get full-service brokerage licenses, a move that the company says should lead to an increase in the amount of business the company can generate through internal referrals. David...