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. 151, March 5

AmeriWest Shows Gains despite High Level Fees
AmeriWest Shows Gains Despite High Legal Fees ALBUQUERQUE -- AmeriWest Financial Corp.'s quarterly report shows how expensive a takeover fight can be -- more than $1 million in legal fees during one quarter. Despite those expenses and others related...
Baltimore Bancorp Boosts Offer for John Hanson S&L; Company Would Pay $15 a Share, Up $3, under New Merger Proposal
Baltimore Bancorp Boosts Offer for John Hanson S&L BALTIMORE -- Baltimore Bancorp renewed its bid for John Hanson Savings and Loan Association of Beltsville, Md., by offering to buy all its shares for $15 each, an increase of $3 over its initial...
Bankers Trust Halts Lending to All Sectors in South Africa
Bankers Trust Halts Lending To All Sectors in South Africa NEW YORK -- Bankers Trust New York Corp. has adopted a policy to end all lending in South Africa, including the private sector, a New York-based church group announced Tuesday. The policy,...
Bill in Parliament Could Drive Eurobond Mart out of London
Bill in Parliament Could Drive Eurobond Mart Out of London LONDON -- The Eurobond market could be driven out of London unless changes are made in legislation for the regulation of investment and securities business that is now pending before...
California Official Says State Agency Is Deficient Detective
California Official Says State Agency Is Deficient Detective SACRAMENTO, Calif. -- California's Department of Corporations does not have adequate methods of detecting conditions like those that led to the failure of the Western Community MoneyCenter...
Citibank Buys Supercomputer; Biggest Single System Ever Built for Business, Teradata Says
Citibank Buys Supercomputer NEW YORK -- Citibank is buying a fourth supercomputer from Teradata Corp., a Los Angeles producer of parallel processing systems. A 168-processor configuration of the Teradata DBC/1012 Data Base Computer System will...
Competition, Complex Laws, and a Couple of Close Calls Cause French Banks to Limit Presence in US Marketplace
Competition, Complex Laws, and a Couple of Close Calls Cause French Banks to Limit Presence in US Marketplace PARIS -- "If you want to be an international bank, you've got to have good reasons not to be present in the United States," says Charles...
Congress Urged to Ease Merger Rules in Failures; Administration Plan Would Let Securities Firms Buy Thrifts
Congress Urged To Ease Merger Rules in Failures WASHINGTON -- Responding to a dramatic rise in bank and thrift failures, the Reagan administration on Tuesday urged Congress to permit securities firms to buy troubled thrifts and to give more banks...
Home Video, Audio Equipment Offers New Marketing Channel
Home Video, Audio Equipment Offers New Marketing Channel A COUPLE OF YEARS AGO, A top executive of the J. Walter Thompson Co. observed that "marketing has been one of the last disciplines to be affected by the new technologies." Unfortunately, evidence...
Justices Question FDIC's View on Letters of Credit
Justices Question FDIC's View on Letters of Credit WASHINGTON -- Several Supreme Court justices sharply questioned the Federal Deposit Insurance Corp.'s contention that standby letters of credit are not deposits entitled to federal insurance coverage....
New Overdraft Rules Bring Diverse Response from Banks
New Overdraft Rules Bring Diverse Response from Banks NEW YORK -- Some large banks are busily upgrading their wire-transfer operations in preparation for a government program to curb bank intraday overdrafts, but others are taking a wait-and-see attitude...
Weill Withdraws Bid to Replace Armacost as Chief Executive of BankAmerica Corp
Weill Withdraws Bid to Replace Armacost As Chief Executive of BankAmerica Corp. Rebuffed by BankAmerica Corp.'s board of directors for the second time in as many months, financier Sanford I. Weill on Tuesday withdrew his bid to become chief executive...