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. 217, November 9

3Q Earnings: BancWest Bracing Itself for Builder Loan Losses
BancWest Corp., like certain other banking companies, is digging in for what is expected to be a lengthy period of losses tied to exposure to home builders. BNP Paribas SA, the French company that bought the $71.7 billion-asset BancWest in 2001,...
3Q Earnings: Losses Aside, AIG Still Committed to Mortgages
While predicting housing market losses will continue through next year, executives at American International Group Inc. said it has no plans to abandon its mortgage-related investments, even though losses in that area played a major role in the company's...
AMEX Will Pursue Full Damages from MasterCard in Suit
After settling with Visa U.S.A. Inc. and its member institutions for up to $2.25 billion, American Express Co. said it would seek full damages in its antitrust suit against MasterCard Inc. - not some prorated share. Louise M. Parent, Amex's general...
A Small Bank's Subprime Pursuit Backfires Badly
It has been a challenging year for community banking companies, but most can take comfort at least in the fact that they have little or no exposure to subprime mortgages. One of the exceptions is First Mariner Bancorp, which has been swamped by...
Banks Thrifts with Highest Nonperformer Ratios: On June 30, 2007. Dollars in Thousands
Holding company Institution type Ratio* Year earlier Nonperformers Net chargeoffs** Assets 1 Hull State Bank Tex. none commercial bank 45.20% 1.45% $10,354 0.10% $42,174 2 Eastern Savings Bank Hunt Valley, Md. none thrift ...
Bernanke's Mortgage Fix Ideas: Modify and Guaranty
WASHINGTON -- As lawmakers continue to debate how the government-sponsored enterprises can best help the struggling mortgage market, Federal Reserve Board Chairman Ben Bernanke offered a new idea Thursday - allowing Fannie Mae and Freddie Mac to securitize...
Defining Unfair: OTS Hears Pros, Cons
WASHINGTON -- Bankers are urging the Office of Thrift Supervision to abandon or limit its plan to define unfair and deceptive lending practices, while consumer groups and some lawmakers say the agency should move quickly to ban a host of practices...
Finance Celebrity Forms Counseling, Referral Firm
Jennifer Openshaw, who founded the online brokerage Women's Financial Network and sold it to Siebert Financial Corp. in 2000, has started a for-profit counseling and referral service to help borrowers get out of debt. Ms. Openshaw, the author of...
Highlights: Thursday, November 8, 2007
Percentage Changes Computed from the indexes reported one, five and 20 days previous, respectively Value Day Week Month American Banker Bank Index: 1990.4 -0.42 -6.91 -17.49 Thrift Index: 663.7 -0.81 -10.58 -23.77 S&P...
JPM Chase Retail Exec Bullish on Branches, Eyes N.J. Growth
JPMorgan Chase & Co. executives have been pretty vocal about how bullish they are on consumer banking, particularly mortgages, despite the market downturn. And Charles W. Scharf told investors Thursday to expect more retail branches and possibly...
Letter to the Editor: Credit Unions and Banks Have Common Ground
To the Editor: I am writing in response to your recent "Perspective" by Bradley E. Rock ["Bankers Win When They Speak with One Voice," Community Banking, Nov. 1, page 2], which contained excerpts from his speech at the American Bankers Association's...
New Lawyer Incentives to Encourage Workouts
To stem the tide of foreclosures, Fannie Mae has begun paying incentive fees to foreclosure lawyers who qualify delinquent borrowers for repayment plans or loan modifications. Michael A. Quinn, a senior vice president and the single-family risk...
People
Marathon Man Mike Richter, a former professional hockey goalie and first-time marathoner, ran the New York City Marathon Sunday, teaming up with ING Group NV and 4,000 other runners to help raise $50,000 for charity. In August Mr. Richter, who...
The Tech Scene: BNY Mellon Pools Human Capital in Social Network
Hoping to tap their collective wisdom, Bank of New York Mellon Corp. is creating a social network for employees to share ideas about everything from the company's continuing integration to basic technology problems - and even for them to solicit advice...
Viewpoint: A Private-Equity Primer for Bank Investments
Several recent transactions by private-equity investors, such as the HSH Nordbank deal led by the J.C. Flowers Fund and the Doral Financial Corp. deal led by Bear Stearns Merchant Banking, highlight the newly discovered interest of private investors...
Viewpoint: Regulatory Blitz for Subprime Players?
The recent failures of NetBank and Miami Valley Bank - two in one week - brings back many memories of my time at the FDIC during the last banking crisis in the United States in the late '80s and early '90s. Those were the bad old days when bank...
Viewpoint: The Market Can Absorb Mortgage Pain by Itself
There is no doubt that the meltdown in the subprime mortgage market is serious; estimates are that well over a million homes will be subject to foreclosure, with hundreds of billions of dollars at risk. There will be losses at every level. Individuals...
Wells Sees More Loan-Loss Increases
Wells Fargo & Co. said Thursday that it expects the slumping housing market to cause further loan-loss increases for the foreseeable future, but it stopped short of giving specific guidance. "We do expect to see increasing losses in the fourth...