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. 157, No. 85, May 4

Arkansas Systems Software Speeds Lockbox Reporting
Seeking to further automate bank's lockbox services, Arkansas Systems Inc. has introduced software designed to run on the International Business Machines Corp. midrange computers. One problem associated with lockbox processing, where customers typically...
Bank of Boston's Latin Connection
Recovering from recession at home, Bank of Boston Corp. is plowing back millions of dollars from its profitable international operation to build an imposing network across Latin America. "This is a dynamic time for Latin America," said Kevin Mulvaney,...
Banks Likely to Maintain Prime of 6.5%
Chemical Banking Corp. is more likely to bump its prime rate back up to 6.5% than other major banks are to join it at 6.25%, analysts believe. "Chemica's motivation to lower the prime was to get publicity and look good to their customer base," said...
Bond Sales Lifted Profits at Top Banks in Quarter
Banks propped up earnings in the first quarter by reaping exceptionally large gains on the sale of securities, an American Banker survey shows. Twenty of the top 25 banks took advantage of last year's bond rally by booking gains on their investment...
Branching Rule Will Prevail, OTS' Ryan Says
WASHINGTON -- T. Timothy Ryan Jr., director of the Office of Thrift Supervision, predicted Friday that Congress would not block a new rule that permits 1,000 federally chartered savings and loans to branch nationwide. The rule, adopted by the OTS...
Citicorp Cuts Mortgage Service Cost: Adopts Software That Fetches Data When Clients Call
Citicorp has reduced servicing costs for home mortgages by using advanced software linking incoming telephone calls to customer profiles, a company official said. Citicorp Mortgage Inc., based in St. Louis, installed software in November from Aristacom...
CRA Activist Finds an Ally at FDIC; Stith, Head of Boston Group, Calls Taylor Responsive
American Banker: Did William Taylor, the chairman of the Federal Deposit Insurance Corp., suggest that CRA enforcement is a priority for him? Charles Stith: Most definitely. His presentation was good, not only in tone, but in substance. He is...
First Bank, Buying Bank Western, Aims to Double Colorado Presence
In the latest sign that Colorado has rebounded, First Bank Systems Inc. announced plans to more than double its presence in the state by a acquiring a major Denver-based thrift. Minneapolis-based First Bank said it would by Bank Western, a federal...
Hibernia's Rights Offering Could Spur Market Activity
Shares of long-ailing Hibernia Corp. may be set to rise in light of the New Orleas company's plans for a shareholder rights offering as part of its recapitalization efforts. "I think shareholders are viewing this as a chance to participate in the...
How Should the Community Reinvestment Act Process - Either the Law or Enforcement and Administration - Be Changed?
Donald A. Mullane Executive vice president Bank of America, San Francisco First, financial institutions that earn a rating of "outstanding" for their CRA programs -- and currently that is less than 10% of the banks in the country -- ought to be rewarded....
Kennedy Seeks Cut in Key Capital Requirement
WASHINGTON -- In an effort to spur bank lending, Rep. Joseph P. Kennedy 2d, D-Mass., has introduced legislation to reduce a key capital requirement. The Bank Lending Stimulus Act would cut the leverage capital limit to 3% of assets for up to 18...
Meetings Serve a Host of Purposes
Bankers' meetings are becoming rarer and smaller. Gone are the days of big conventions. Drops of as much as 80% in attendance from the halcyon days of banking are not uncommon, while many meetings have been consolidated or abandoned. One reason...
MNC's Gartman Resigns as CFO; Fatigue Prompted Decision, Chairman Lerner Says
WASHINGTON -- Peter L. Gartman, vice chairman and chief financial officer of ailing MNC Financial Inc., resigned last week. Mr. Gartman, who was assigned a key role in MNC's turnaround effort, issued a statement Friday that he is pursuing business...
Riedy's Golden Handshake Estimated at Up to $700,000
Mark J. Riedy, president of the National Council of Community Bankers, will be paid a lump sum of $500,000 to $700,000 when the trade group merges with the stronger U.S. League of Savings Institutions this year, American Banker has learned. Both...
Riots Disrupt L.A. Banks; Fires Level 3 Branches
The Los Angeles riots widely disrupted banking operations Thursday and Friday, as hundreds of branches closed and at least three were burned to the ground. The downtown area was virtually a ghost town Friday, as worried employees stayed home and...
Thrift's Homely Ads Make a Point
Great Lakes Bancorp is running advertisements that deliberately discard any semblance of slickness. The Ann Arbor, Mich.-based thrift is running a stark, homemade-style advertising campaign in area newspapers and on local radio and television stations...