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 July 25

Citi, JPM CEOs Rally Staff, Street
After a day in which their companies shared the heat of a congressional spotlight and the pressure of plunging stock prices, the top executives J.P. Morgan Chase & Co. and Citigroup Inc. took to the stump to shore up morale and -- in Morgan Chase's...
Even in No-Win Situation, Banks Fell Short on Hill
Citigroup Inc. and J.P. Morgan Chase & Co. executives may have faced a no-win situation when called to testify on Capitol Hill Tuesday about complex financing deals for the now-bankrupt Enron Corp., but observers said their performance was more...
Executive Changes
MIDWEST Southern Michigan Bank and Trust in Coldwater has hired Kurt Miller as its president. Mr. Miller was the vice president of commercial loans at Sturgis Bank and Trust. He was also a member of its asset liability management group and its...
Fifth Third Buying Again: Eyes Chicago after $240M Nashville Deal
After nearly two years on the sidelines Fifth Third Bancorp has gotten back in the merger game, with a deal for a small Tennessee company it plans to use as a platform for expansion in the Nashville market. Fifth Third said Wednesday that it had...
MasterCard, Visa Defense vs. Wal-Mart Unsealed
Throughout the pretrial proceedings in the Wal-Mart lawsuit, Visa U.S.A. and MasterCard International have complained that they were muzzled by a judicial seal on many documents, while the plaintiffs freely circulated potential damage figures and other...
Mellon, ABN Amro Agree to Form Custody Venture
Mellon Financial Corp. said Wednesday that it had agreed to form a joint venture with Dutch banking giant ABN Amro Holding NV that would provide global custody and related services. ABN Amro Mellon Global Securities Services BV would be based in...
Nat City: Client Demand Behind Fee Cancellation
National City Corp., which announced Monday that it will drop fees for online bill payment, said it was not doing so to emulate Bank of America Corp. -- which trumpeted the change in May -- but because its customers were saying that the fees dissuaded...
Rates Boost Allstate Unit's Bank Annuity Sales
Glenbrook Life and Annuity Co. said that its sales of fixed annuities through banks jumped in the second quarter as a result of competitive interest rates. The Allstate Insurance Co. unit's fixed sales through banks rose 75% from the first quarter...
Socially Responsible Fund Boom? Maybe
Will conservative bank investors buzzed off by corporate scandals now stock up on so-called socially responsible funds? The owner of one such fund company says they will. But there are doubters. Sophia Collier said that her Citizens Advisers...
Texas Bank Names Wear Pride like 10-Gallon Hat
Texas likes itself, and this is evident even in the names of its financial institutions. Take its newest bank, in Houston: The Right Bank for Texas. Chief executive Mike Roy said he got the idea for the name from his wife, who jokingly suggested...
Thornburg Counts on Gut More Than on FICO
Before obtaining a loan recently from Thornburg Mortgage Inc., a recent borrower had been turned down at five large mortgage lenders. He had strong income, but the theft of a credit card had resulted in severe damage to his Fair, Isaac & Co....
Yes Votes Seen Today on Reform Bill
The House and Senate are expected today to give final approval to sweeping corporate reform legislation that congressional negotiators signed off on Wednesday. Lobbyists succeeded in 11th-hour efforts Wednesday aimed at getting lawmakers to let...