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, April 3

A Florida Pioneer Looks Back, and Then Ahead to New Fields
MIAMI -- With time and technology advancing rapidly in the electronic funds transfer field, a thrift in Hollywood, Fla., now finds itself out of several electronci services in which it pioneered. But the thrift, Hollywood Federal Savings & Loan...
Amid Deregulation, United Front Needed; Banks, Thrifts, Credit Unions Can No Longer Wait for Consensus
One of the great ironies of deregulation is that it has heightened the need for political consensus among financial institutions at the very time it also is fragmenting the industry. The advantages of political unity to commercial banks, savings...
Automated Clearing Not a Bank Preserve; Thrifts Are Asking, 'What's in It?' - Answer Seems to Be, 'Plenty.'
The involvement of thrift institutions in the automated clearing house system will bring benefits both to the institutions and to their customers. It is an involvement that, with few outstanding exceptions, has barely begun to be registered. It is...
Banks Preparing for a Rejection of Bankruptcy Bill
WASHINGTON -- While Congress haggles over a measure that would save bankruptcy courts, the banking industry is slowly coming to grips with the possibility that the bailout won't happen. "They [banks] want to know what their status is if the courts...
Banks Viewed as Insurance Distributors, Not Underwriters
CHICAGO -- Banks looking to increase their fee income will turn to insurance, but will enter that market as distributors rather than underwriters, according to Huggins Financial Services Inc., a consulting firm. "taking deposits and making loans...
Citicorp Savings Makes Its Debut in Illinois with Mortgage Deal
CHICAGO -- Citicorp Savings of Illinois burst upon the scene late last week accompanied by a $200 million deal on mortgages. Walter B. Wriston, chairman of Citicorp, and Barry C. Burkholder, chairman of one of its newest thrift subsidiaries, trumpeted...
Crossing State Lines: How Some Did It; De Facto Interstate Banking Begins through Grandfathering, State Law
NEW YORK -- National banks have been prohibited from acquiring banks across state lines since the passage of the McFadden Act in 1927. Bank holding companies have been similarly limited since the 1956 enactment of the Douglas Amendment to the Bank...
Empire Adds Illinois to Its Territory; New York Thrift Sets Up Moneplex Center in Chicago's Financial District
CHICAGO -- New York's giant Empire of America savings and loan association pushed into Illinois with the opening of a Moneyplex financial services center on Monday. The new center departs from the Buffalo-based thrift's previous strategy in that...
FDIC Eyeing Government Agency Curbs
TARPON SPRINGS, Fla. -- The Federal Deposit Insurance Corp. is reviewing a proposal to strip government agencies and credit unions of their "insured depositor" status. Such an action would quickly bring to a halt the use of money brokers by agencies...
FSLIC: Will Back Mortgage Obligations If Issuer Fails
NEW YORK -- Federal regulators last week cleared a roadblock that has delayed more than $1 billion in collateralized mortgage obligation issues planned by thrift institutions. The Federal Savings and Loan Insurance Corp. has assured the rating agency...
Incentive Programs Gaining Popularity among Bankers; Innovations Prove Successful at Southern Institutions
CHICAGO -- Employees will work, but most banks haven't found the right way of getting them to work, says productivity specialist William B. Abernathy. "People have to have a reason to want to perform," he told a Bank Administration Institute productivity...
Retirement Accounts Not So Simple; IRAs Started out That Way, but Then Came More Complex Versions
SAN FRANCISCO -- At the start, individual retirement accounts seemed to be simple products that would attract large sums of long-term money into the banks and thrifts that offered them. Today, few members of the industry would consider IRAs simple...
The Bank That Makes Walter Wriston Jealous
Charles Sanford, president of Bankers Trust New York Corp., is a rarity among bankers -- one who is not overly found of making loans. He says: "We really don't need loans to make money. We can achieve the same results with Treasuries. In fact, loans...
To Succeed with 'Banking' Services, Thrifts Sorely Need Relationships
When Bank of America put together a credit for People Express Airlines, Inc., it wasn't looking for participation from a savings and loan association. Nor, adds one thrift lending officer, were any of the other banks participating in that loan. ...
Volcker Warns against Mortgage Rate Discounts
NEW YORK -- Federal Reserve Board Chairman Paul A. Volcker on Monday warned thrift executives against excessive initial discounts in offering adjustable-rate mortgages. "They seem reasonable as a mortgage instrument if they are sold fairly," Mr....