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. 156, No. 242, December 18

A California Thrift Prospers Selling Auto Loan Securities
Selling securities backed by auto loan receivables has nudged earnings into high gear at Westcorp, a California S&L, despite some stiff competition. "There's GM, Ford, and Chrysler - then there's us, out there playing with the big boy,s" said...
After Huge Gain, Fund Decides It's Time to Dump Bank Stocks
Bank stocks helped Denver money manager Philip J. Dubuque score a 64% gain for his mutual fund this year, but over the last few months he has tossed most of them overboard. "We're at low ebb right now on the banks," he said in a telephone interview....
Airline Business Scheduled for Takeoff; in Just Two Years, Overcapacity Will Be a Memory
Will the commercial airplanes being financed today become the real estate problems of the 1990s? The answer is a resounding no. A turnaround is already at hand. One doesn't need to search far these days to uncover bad news about the aviation...
As U.S. Suffers, Latins Prosper on Debt Relief
Numerous articles have been appearing about the health of the economic recoveries in Latin America. Meanwhile, recession lingers in the United States. All this makes me even more upset about the U.S. debt-forgiveness program and more angry at...
BankAmerica Steps into Soviet Role; Mediator in Debt Negotiations Has Limited Exposure
LONDON -- BankAmerica Corp. has been recruited as a mediator in the international effort to help resolve the Soviet debt crisis. The U.S. bank, part of a group of Western financial institutions in negotiations with the Soviet foreign trade bank...
Bank One Launches System to Spur Retail Marketing
After five years of development, Banc One corp. is putting into day-to-day use what many say is the financial industry's most advanced retail banking system. The system's software, said by observers to have cost more than $100 million, will underpin...
Banks' Service Worsening, Small Businesses Complain
Despite bankers' efforts to make inroads in the small-business market, operators of small companies are becoming less satisfied with their banks, according to a survey by Trans Data Corp. Of 500 small-business owners and managers surveyed, 40% said...
Boatmen's Ranks as Canniest Acquirer in Region
With two major acquisitions in the last six months, St. Louis-based Boatmen's Bancshares has established itself as the most aggressive, and perhaps the canniest, acquirer in the central Midwest. The region's economic climate is relatively good,...
Buying a Thrift from the RTC: A Step-by-Step Guide
One by one, commercial banks are picking off the nation's thrift institutions, especially those that have fallen into the hands of the Resolution Trust Corp. Some banks doing it well, others are handling it badly, and still others are simply watching...
Currency Printer Thrives on Soviet Breakup
America's leading printer of stock certificates and currency is cashing in on the fall of communism. Thanks largely to new contracts in Russia and Lithuania, the United States Banknote Corp. expects to post a 33% jump in revenues this year and another...
Mall Deal Wins Praise for Chemical Realty Unit
In a major coup for its real estate advisory business, Chemical Banking Corp. has engineered the sale of a 76-acre shopping mall near Seattle for about $100 million. Chemical Realty Group represented the seller, Ohio developer Edward J. DeBartolo,...
Slowdown in Housing Starts Said to Support Fed's Easing
NEW YORK -- A modest drop in November housing remains mired in slow growth and gave the Federal Reserve Board additional support for a decision to ease credit, economists said. "Housing, like auto sales, has lost forward momentum due to weak income,...
Sovereign in New Bid to Acquire Flagship, Offer Valued at $11.50 a Share
WYOMISSING, Pa. -- Sovereign Bancorp Inc. said Tuesday that it has renewed acquisition discussions with Flagship Financial Corp. of Jenkintown, Pa. Sovereign, which operates in Princeton, N.J., and five southeastern Pennsylvania counties but not...
Tight Security Sought at N.Y. ATMs; City Council Member Issues a Tough New Proposal
Citing her own recent experience with ATM crime, a New York City Council member is advocating stricter security requirements for bank machines. Ronnie Eldridge - a council member from Manhattan's Upper West Side who lost a small amount of cash to...
Ukraine Set to Repay Share of Soviet Debt; Fledgling Republic Accepts Responsibility for 16% of Country's Total
LONDON -- Ukraine will make principal and interest payments starting Jan. 1 on its share of the external debt of the crumbling Soviet Union, said Boris Sobolev, deputy minister for foreign economic relations. "We will pay principal as well as interest,"...