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. 150, November 19

Alex. Brown, PNC Team Up to Invest in Regionals
BALTIMORE -- Regional bank stocks used to be among the last investments a smart investor would include in a portfolio, but the once-stodgy stocks now are becoming the darlings of the investment community. To take advantage of this change in sentiment,...
Banking Salaries Seen on Rise
CHICAGO -- Banking salaries are on the rise, according to a nationwide survey of 45 leading banking and finance institutions. After years of below-average salaries and sub-par increases, banks have begun to narrow the salary gap that exists between...
Barclays Delaware Unit Does Business Differently - Marketing Downscale, While Keeping Rates High
NEW YORK -- The Barclays American Corp. is the latest to open a bank in Delaware, but its marketing strategy contrasts with other financial institutions that have jumped on the Delaware bandwagon. The new Barclays Bank of Delaware will be in the...
Buyers of Mortgages from Troubled Firm Give Control of Investments to 3d Party
WASHINGTON--Institutions that bought mortgages from the troubled First American Mortgage Co., Baltimore, have turned over control of some $64 million of their investments to a third party as they attempt to assess their losses from the potential collapse...
Congressman Urges Shift to Cheaper Cards; Rep. Schumer Releases List of 30 Low-Interest Issuers
WASHINGTON--A House Banking committee member on Monday attacked the largest credit card issuers in the counttry as "usurious" and released a list of 30 card-issuing banks that offer low interest rates. Rep. Charles E. Schumer, D-N.Y., urged consumers...
Farm Failures Rise in Minneapolis Fed District during 3d Quarter
CHICAGO -- The rate of farm failures increased during the third quarter in several upper midwestern states, despite farmers' efforts to cut spending, stretch out debt repayment, and find new sources of credit. Bankers in the Federal Reserve District...
Farm, Oil States Witness Rising Business Failures
CHICAGO -- Persistent financial problems in the agricultural and oil sectors of the economy contributed to substantial increases in business failures in farm states and oil-producing states during the first nine months of the year, a recently published...
Fidata Posts Big Loss as It Phases out Most of Its Business
NEW YORK--Fidata Corp., in the process of phasing most of its business out of existence, reported an operating loss of $938,000 for the quarter ended Sept. 30, compared to a $578,000 gain in the same period last year. But thanks to sales of certain...
Minority Services Pact Helps Clear Way for NCNB Deal in Florida
CHARLOTTE, N.C. -- NCNB Corp. and five legal aid groups in Florida have reached an agreement that helps clear the way for NCNB's acquisition of Pan American Bank NA in Miami. One legal aid lawyer described the agreement enthusiastically as "the...
Nicholas Deak Shot to Death in New York Office
NEW YORK -- Nicholas L. Deak, 80-year-old founder and chairman of Deak & Co., one of the nation's leading precious metals and currency exchange firms, was shot to death Monday along with his receptionist in his company's 21st-floor offices by a...
Prudential Sees Potential Profits in Managing Farm Property
CHICAGO -- Prudential Insurance Company of America thinks that it can make some rather handsome profits as a result of the slumping agricultural economy. The plans of the giant insurance company do not include any substantial increase in lending...
Sears to Appeal Coonecticut's Rule on Money Centers
CHICAGO -- Sears, Roebuck and Co. said on Monday that it will appeal a federal court ruling upholding a Connecticut law that limits the number of financial service centers the company can open in that state. The ruling, issued on Friday in New Haven...
Trading Area Will Be Focus of MBank's New Dallas Building
DALLAS -- In much the same way that a housekeeper sweeps dust under the rug before guests arrive, most banks keep their capital markets trading area hidden from public view. It is unfortunate, because the busy trading center -- with its telephones...