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, April 24

An Alternative to Welfare: Tax Relief for the Poor
Charles Murray has become a cottage industry. Ever since Mr. Murray, a political scientist, published a book last fall arguing that welfare programs have made poverty worse, he's kept a small army of scholars, journalists, and bureaucrats busy churning...
Bad Loans Make Minor Dent in Earnings
NEW YORK -- As analysts had predicted, nonperforming loans at the nation's largest banks have remained around their yearend levels and did not have a great effect on first-quarter earnings. Nonperforming loans include those that are not accruing...
Bank Board Gives Thrifts Permission to Trade in Over-the-Counter Options
WASHINGTON -- As a result of a Federal Home Loan Bank Board action last week, federally insured thrifts are now expressly authorized to trade in over-the-counter financial options. In approving trades in these instruments, the agency reversed a...
Butcher's Fall Called 'Chapter of Tragedy' as He Caves in to Massive Federal Evidence
KNOXVILLE, Tenn. -- Jake Butcher, the flamboyant banker who twice ran for governor of Tennessee, caved in to the weight of massive criminal evidence against him Monday when he began what will be a series of guilty pleas to federal charges. Mr. Butcher,...
Citicorp Chief Endorses Pacts with Trigger Dates
CHICAGO -- Citicorp supports regional interstate banking legislation, but only if it includes a "trigger date" to permit full interstate banking within two years of enactment, Citicorp chairman John S. Reed said here Monday. Mr. Reed's endorsement...
Death of a Sales Program: Common Mistakes Made by Banks
MOST TOP BANK executives I meet want their bankers to be salespeople; they recognize the need to go after the business, not just wait for it to walk through the door. Yet, many of these bankers are finding a strong sales program to be an elusive target....
Diners Club Card Offers Package of New Services
NEW YORK -- Citicorp Diners Club In. announced Tuesday a new package of services for the Diners Club card as part of the company's renewed effort sell the charge card to the huge business travel market. The new services give travelers access to...
Earnings Turnarounds in Illinois Take Top Two Thrifts in Opposite Directions
CHICAGO -- The two largest thrifts in Illinois had turnarounds in their financial positions in the fourth quarter of 1984 -- but in opposite directions. Talman Home Federal Savings & Loan Association of Illinois, the largest thrift in the state...
Grand Jury Begins Home State Hearing; Ex-Conservator Cites Records Dispute
AKRON, Ohio -- A federal grand jury has begun hearing testimony in connection with the closing of Home State Savings Bank in Cincinnati. At least one state employee, Helen Mesko, a deputy in the savings and loan division, and Arlo M. Smith, the...
Isaac: Deposit Funds Must Merge: FDIC Chairman, Ever Controversial, Prepares to Depart after Expanding Influence of His Agency to a New High
WASHINGTON--A marriage between the two federal deposit insurance funds is inevitable, according to William M. Isaac, chairman of the Federal Deposit Insurance Corp. It's not that Mr. Isaac is trying to expand his turf by acquiring the Federal Savings...
Merrill Names William Schreyer Board Chairman
NEW YORK -- William A. Schreyer, climbing the corporate ladder at Merrill Lynch & Co. for the last 37 years, finally reached the top at the nation's largest brokerage firm on Monday. Meeting in Atlanta, Merrill's board of directors tapped Mr....
Putting On-Line Activity off Line Can Trim Costs, Consultant Says
NEW YORK -- An electronic funds transfer consultant says banks and brokers can trim the cost of on-line brokerage services by more than half if customers perform the most time-consuming part of the transactions off line. Christopher B. Reid, outlining...
Regional Interstate Banking Bill Scores 2d Victory in Minnesota
ST. PAUL -- Gov. Rudy Perpich's regional interstate banking bill has passed a Senate committee in a form slightly different from the version passed by the House earlier this month. The regional bill allows Minnesota banks to acquire banks in any...
Securities Firms' '85 Earnings Soar: Lower Rates, Active Stock Market Spur Resurgence of Top Companies
NEW YORK -- The nation's major securities firms this week continued to report impressive earnings for the first three months of this year, a period characterized by brisk stock market activity. Dean Witter Financial Services Group, a subsidiary...
Unable to Elude FBI or Raise Bail, Penn Square Exec Winds Up in Jail
OKLAHOMA CITY -- A former Penn Square Bank assistant vice president who led FBI agents on a chase was jailed after he was unable to post $40,000 bail. Clark Long, 30, was brought before U.S. Magistrate Paul Lindsey on Monday for a bond hearing...