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. 86, May 4

1Q Earnings: A Hypercom Sale Stalled in Weak Quarter, It Says
The point of sale terminal company Hypercom Corp. has confirmed that it would consider selling itself. The Phoenix company said Thursday that it had incurred $1.7 million of accounting and legal expenses in the first quarter for work on a deal...
At Boston Private Interest-Only Is 'Right' for Rich
Interest-only loans, asdfgwhich many banks regard as too risky, have grown strongly at Boston Private Bank and Trust Co., largely because it is pitching them to the right borrowers - wealthy households buying properties for $1.5 million to $3 million....
B of A, Amro Going to Court?: LaSalle Deal Frozen; Costly Fight Seen Ahead
Bank of America Corp. is expected to sue ABN Amro Holding NV in an effort to save the Charlotte company's deal to acquire LaSalle Bank Corp. "We have a binding contract and intend to take all necessary steps to protect our legal rights," B of...
FHA Reform Bill Clears Committee Largely Unchanged
WASHINGTON -- The House Financial Services Committee approved a bill, 45 to 19, on Thursday that would reform the Federal Housing Administration. During two days of debate, Republicans focused most of their attention on attempting to remove or...
Highlights: Thursday, May 3, 2007
TOP GAINERS % GreaterBayBncp-CA Doral Financial-PR CorusBkshrs-IL HorizonFinCorp-WA PeoplesComnty-OH IndyMac-CA OceanFirstFinancial-NJ HeritageCommerce-CA RegionsFinCorp-AL FirstIndianaCrp-IN TOP LOSERS % PremierFinBncrp-KY...
In Focus: Eye on Profit, Wamu Trims Retail Bank
Known in the first half of this decade for its rapid-fire branch building, frequent acquiring, and its patented Occasio branch design, Washington Mutual Inc. has hit middle age - its retail bank is slimming down, shedding dead weight, and scaling...
People
The People Speak The International Academy of Digital Arts and Sciences announced its annual Webby Awards this week to honor "excellence on the Internet." The academy's members include the musicians Beck and David Bowie, as well as "The Simpsons"...
Predictions of '07 M&A Uptick Coming to Fruition
Like many small banks, the $22 million-asset Johnsonville State Bank in South Carolina has found it increasingly difficult of late to compete for deposits while grappling with higher regulatory costs and trying to maintain credit quality. So...
Schumer Fix in Subprime: Refi Fund, Tighter Regs
WASHINGTON -- Sen. Charles Schumer unveiled a two-part plan Thursday to fix problems in the subprime mortgage industry, calling for tougher standards on all loan originators and a federal appropriation of $300 million to help prevent foreclosures....
The Tech Scene: This Is Only a Test: Firms Staging Mock Breaches
Sometime this year somebody is going to try to rip off Numerica Credit Union - again. The Spokane credit union has hired TraceSecurity Inc. of Baton Rouge to send impostors to several branches, where they will try to bluff their way into data...
Union Credit Joins U.N. Ecological Program
The United Nations has been promoting "green" lending for 15 years and counts some of the world's biggest banking companies as its partners. Now Union Credit Bank in Miami has become the first community bank to join the U.N. Environment Program...
Viewpoint: Preemption Authorized for State Banks, Too
The Supreme Court's April 17 decision in Watters v. Wachovia holds that states have no regulatory authority over national-bank operating subsidiaries, because of preemption by the OCC's visitorial powers, the same as for the national bank. This...
Viewpoint: Subprime Loans Helping a Tex. Town
Imagine you're a bank regulator or a member of Congress concerned about trends in subprime mortgages. You see the foreclosure rates climbing. You hear the stories of homeowners who , stretched beyond their means, are facing the prospect of...
Viewpoint: The Surprising Power of a Little Personal Touch
If I asked you how an additional or redirected $25 a week per branch would have the most impact, what would your answer be? The fact is you probably couldn't be sure, but the answer to that simple question is one that I believe is worth discovering...
Visa in Exclusive Prepaid Card Deal
Visa U.S.A. Inc. said Thursday that it had formalized its cobranding of prepaid payroll cards with ADP Employer Services in a five-year exclusive deal. ADP, a division of Automatic Data Processing Inc., has cobranded cards with Visa without a...
Why Long-Term Care Can Be a Tough Sell
Natalie Shamley, a financial planner for Investment Centers of America Inc.'s brokerage operation at Home State Bank in Loveland, Colo., does not sell much long-term-care insurance, but she routinely brings it up with clients, using her own situation...