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. 172, No. 13, January 19

4Q Earnings: BB&T: Better at Top Line, but Charges Hurt Profits
BB&T Corp.'s fourth-quarter results showed that it was able to generate revenue, deposit, and margin gains in a challenging market, but nearly $200 million in charges -- including one tied to a longstanding tax dispute -- sent its net income down...
4Q Earnings: Branch Swap, Custody Deals Lift Bank of N.Y
Bank of New York Co. Inc. said its profits more than quadrupled in the fourth quarter, in part because of the swap of its 338 retail branches for JPMorgan Chase & Co.'s corporate trust business. Net income increased 344.4%, to $1.8 billion,...
4Q Earnings: Corus - Condo Crunch No Longer a Distant Threat
Corus Bankshares Inc. achieved record earnings in 2006, but nonperforming loans are up, loan originations are down, and investors are getting nervous. The $10.1 billion-asset Chicago company, which lends almost exclusively to condominium developers,...
4Q Earnings: Fifth Third, Huntington, Comerica - A Bit More Pressure on Credits, but Less on Deposit Pricing
Three Midwestern banking companies reported noisy fourth-quarter earnings, but behind a laundry list of one-time items they gave a mostly positive review on operating trends in the region. While Fifth Third Bancorp, Huntington Bancshares Inc., and...
4Q Earnings: First Horizon Will Buy Some Small Originators: CEO
The inverted yield curve and the housing slowdown hurt First Horizon National Corp. in the fourth quarter, but its mortgage unit returned to the black after posting a third-quarter net loss. The $37.9 billion-asset Memphis banking company said its...
4Q Earnings: Merrill's '07 Plan Looks Familiar after a Solid 2006
After reporting its all-time strongest quarterly and yearly profit growth, Merrill Lynch & Co. Inc.'s chief financial officer outlined several initiatives to maintain its momentum. The New York brokerage company plans international expansion,...
4Q Earnings: Sky Seen Outdoing Its Peers
Wall Streeters got a chance to look under the hood at Sky Financial Group Inc., the Midwest banking company that has agreed to be acquired by Huntington Bancshares Inc., when it reported fourth-quarter earnings Thursday -- and for the most part they...
4Q Earnings: Washington Mutual - Setting Sights on Top-Line Growth, Deals
Coming off a year of layoffs and asset sales, Washington Mutual Inc. plans to focus on rekindling revenue growth this year, its chairman and chief executive said. Though its financial targets assume organic growth, the $346 billion-asset Seattle...
Alliance First Repeat Pick by Howe Barnes
Shares of Alliance Bankshares Corp. of Chantilly, Va., stock outperformed the Nasdaq bank index last year, and the research group at Howe Barnes Hoefer & Arnett Inc. expects the shares to continue to do so. For the second straight year Howe...
Another Calif. Deal for Umpqua
Umpqua Holdings Corp. of Portland, Ore., is continuing to bulk up in California by acquiring North Bay Bancorp in Napa for $156 million in stock. North Bay, with assets of $649 million, is the parent of Vintage Bank, which has 10 branches in California's...
Chase Buys Health Remittance Firm's Assets
JPMorgan Chase & Co. is seeking a larger role in health-care payments by buying the assets of FisaCure Inc., a Dallas-area provider of remittance processing services. The New York company announced Thursday that it has acquired all of FisaCure's...
Ending Impasse, FHFB Adopts A Director-Naming Procedure
WASHINGTON -- The Federal Housing Finance Board ended a stalemate Thursday over public-interest directors at the Federal Home Loan banks by unanimously approving procedures for making appointments to the 57 vacant seats. The procedures will require...
High Court Stance on Adverse-Action Notices Unclear
WASHINGTON -- Supreme Court Justices criticized both sides this week in a fight between insurance companies and some customers over when to send adverse-action notices to consumers, leaving observers with few clues to how the high court will rule....
In Brief: AIG Extends Reach in Canadian Market
AIG United Guaranty Corp., the first mortgage insurance provider to break the long-standing duopoly in the Canadian market, said it has received approval to cover Canadian mortgages sold in the secondary market. The Greensboro, N.C., unit of American...
Leahy Gets Gavel, and Merchants Head to Vt
Merchants unhappy with interchange fees are making sure the Senate Judiciary Committee's new chairman -- and his constituents -- hear their complaints. The Merchants Payments Coalition, a Washington group of about 30 trade associations, launched...
Pair of Deals Earn Intuit an Upgrade
Intuit Inc.'s shares rose slightly Thursday morning after a Citigroup Inc. analyst upgraded the stock, in part because of the personal financial management and tax preparation software vendor's deals to buy two payments companies. Brent Thill raised...
Security Watch
Laws A new law in Nevada aimed at curbing identity theft is causing headaches for state agencies. The law, which took effect Jan. 1, requires state agencies to scrub people's Social Security numbers from any document submitted to them that remains...
Viewpoint: Bankers Mishandled Wal-Mart's ILC Effort
The anticipation in banking circles about how the FDIC will decide Wal-Mart's application to own a Utah industrial loan company makes no sense, because either way Wal-Mart is going to lose. If it wins, it will only be a Pyrrhic victory: an ILC in...
Viewpoint: Can a Structured Portfolio Weather Coming Storm?
The leading edge of this economic down cycle's tsunami is just beginning to hit individual financial institutions. How widespread the effects will be cannot yet be determined, but it is clear they will be devastating for some financial firms. One...