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. 169, No. 36, February 24

Ambitious Plans for Asian Division of Pa.'s Royal Bank
Royal Bancshares of Narberth, Pa., whose customer base of Asian-American entrepreneurs has steadily increased over the past decade, jumped at the chance to hire a respected Korean-American banker and turn a niche activity into a full-fledged business....
An Innovator in Payments Hands over the Lockbox
Wachovia Corp. -- one of the more proactive banks in the automated clearing house world -- said Monday it will outsource its retail lockbox processing to Remitco LLC, a First Data Corp. subsidiary. The deal could be a sign that the move toward paperless...
Another 1990s Buyer Says It's Going Organic
Zions Bancorp is joining a small but growing number of banks that plan to stand aside, for the most part, from the industry's consolidation trend and concentrate on internal growth instead. The Salt Lake City banking company's management said Thursday...
Another Issue: How Public Should Meetings Be?
In addition to battling the Farm Credit System over policy issues, bankers are starting to raise concerns about the process by which the system is regulated. After the Farm Credit Administration Board, the system's regulator, met Feb. 10, critics...
Brokerage Verterans Migrating to Banks
When Tommy Williams, the president of Woodforest National Bank's investment unit, hired the 20-year brokerage house veteran Frederick T. Greene in May, he got more than just another broker. Mr. Greene is a retirement expert and a polished adviser....
Editor's Note
In financial services, experience counts. By and large, customers prefer to do business with bankers they know and trust, and investors often take comfort in knowing that a bank's CEO has been through the industry's up-and-down cycles. But that...
Farm Credit Effort Unites Bankers, Realtors
Bankers and Realtors do not agree on much these days, but they are united in trying to keep the Farm Credit System's lenders out of the real estate business. Farm Credit lenders are seeking permission from their regulator to offer both trust and...
Fed Gov Bies Says Banks "Must" Disclose More
The Federal Reserve Board has long advocated increased disclosure of bank risk management practices to improve market discipline, but Fed Governor Susan Bies moved the issue forward last week. "Disclosures about how risks are being managed and the...
Flat Fees Bringing More Community Banks Online
When Clarkston State Bank opened in 1999, it felt online banking was not really an option. "The one big thing was cost," said Dawn Horner, Clarkston's president and chief executive. "We were a new bank." And even though the Clarkston, Mich.,...
Lenders Cite Consumers' 'Irrational' Behavior
When is an option not an option? Fairly often, according to lenders fighting the Securities and Exchange Commission's forthcoming change to accounting on rate locks. Lenders argue that historical evidence shows that a borrower with a lock at an...
MassMutual Hires Sales Execs to Help Expand Its 401(k) Unit
MassMutual Retirement Services has hired three sales executives to help it continue expanding its 401(k) business for small to midsize companies. The three executives, who will focus on New York State, the Southeast, and the Plains-Southwest region,...
OFHEO to Start Setting the Loan Ceiling for GSEs
At the start of a critical week for the government-sponsored enterprises, the Office of Federal Housing Enterprise Oversight said it can no longer trust Fannie Mae and Freddie Mac to recalculate the maximum size of loans they may purchase. The rebuke...
Parsing SEC's Scrutiny of Rate Locks
When it comes to rate-lock commitments, home lenders' accounting practices vary widely. On the day a lock is issued, some lenders recognize some of the anticipated gain from the sale of the loan (or the right to service it). Some count more than...
Preemption Challenge Is a Futile Exercise
The comptroller of the currency has issued final regulations clarifying when the operations of national banks are subject - and not subject - to the jurisdiction of the states. The comptroller notes that he is attempting to codify, not alter, existing...
Privacy Proposal Met with Skepticism
Given the industry's near-constant call for simpler regulations that are easier to implement, community bankers' reaction to a proposal to streamline privacy notices seems puzzling. Financial services regulators released a preliminary proposal in...
S. Korea Deal Extends Citi's Push into Asia
South Korea is the scene of Citigroup Inc.'s latest foray as it continues to troll for deals in Asia that would expand its consumer and commercial businesses into high-growth emerging markets. Over the weekend the New York banking company finalized...
Snow Weighs in Opposing Taxation of Credit Unions
Treasury Secretary John Snow on Monday delivered the Bush administration's strongest opinion to date against extending the corporate income tax to credit unions. In a speech to the nearly 4,000 attendees of the annual Washington lobbying conference...
Used-Car Dealerships Not Always Lemons
Phil Gilliland knows many used-car dealers in north-central Kansas who will push for a sale - regardless of whether or not buyers can afford the monthly payments. Those are the businesses that Mr. Gilliland, the executive vice president of the $140...
Visa Raising Interchange Fees on Credit, Matching MC, Amex
Visa U.S.A. is scheduled to announce today that it will raise its interchange rates April 3. The move, Visa said, is designed both to keep pace with MasterCard International and American Express Co. and to make itself the most attractive partner...
Wells Fargo Seen Having Resources for a Big Deal
Since the consolidation wave erupted last fall, Wells Fargo & Co. has featured regularly in market rumors -- and for good reason, according to Ruchi Madan of Citigroup Inc.'s Smith Barney. In a research report issued Monday, Ms. Madan said the...
When the Top Dog Is of a Different Breed
Dave Hickman is the rare bank chief executive who is not a career banker. Mr. Hickman, 63, started out as an accountant at the former Arthur Young & Co., became the chief administrative officer at his family's manufacturing business, then joined...