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. 171, September 3

ATM Beggars a Nuisance for N.Y. Banks
NEW YORK - At 10:15 last Thursday night, most stores along Park Avenue were locked and shuttered. But Bernie was doing his best business of the day. The self-appointed doorman at a Citibank branch had just coaxed "tips" from three consecutive ATM...
Bankers Trust to Offer Exchange of Preferred
Bankers Trust New York Corp.'s exchange offer for up to $150 million of outstanding preferred is likely to hit the market later this month. Bankers Trust will offer new preferred stock in exchange for the higher-cost outstanding shares. The dividend...
Bank Stocks Buoyed by Strong Dollar
Bolstered by a strengthening dollar, bank stocks staged a late rally Wednesday. After slumping for most of the day, 14 of the top 25 banks wound up on the plus side, though some of the gains were narrow. "It's mostly a nickel-and-dime scenario,"...
Beware: A Manager's Peccadillo Could Sink That Merger
If you plan to submit a regulatory application for a merger, acquisition, consolidation, or other restructuring, take heed. Regulators have changed their reviewing standards, with the result that management factors now weigh more heavily than ever...
Bush Weighed Plan to Pack FDIC Board
WASHINGTON - The Bush administration this week considered a maneuver that would have given it control of the Federal Deposit Insurance Corp.'s board, but rejected the idea as politically unfeasible, sources said Wednesday. The fact that high-level...
Custody Battles Put the Squeeze on Profit Margin
Trust bankers call it the "Calpers effect," and it's wreaking havoc on profit margins in their custody businesses. Calpers, short for the California Public Employees Retirement System, is one of the largest pension funds in the world. In a move...
Diners Club Hit with Suspension from U.S. Bids
WASHINGTON - Citicorp's Diners Club unit has been barred from bidding for new business from the U.S. government pending an investigation of its government charge card program. Described as a temporary suspension, the action will not affect the ability...
Dollar Traders See Further Woes Ahead
NEW YORK - The dollar bounced back from new lows versus the mark to stand virtually unchanged at midday trading Wednesday, but dealers said the greenback has nowhere to go but down. "We're off the lows, and that is about the only good thing that...
Finding the Hot Areas as Tech Employment Shrinks
If you're a technology wizard trying to get a job at a bank, a good bet might be networking yourself into a programmer position, especially if you're skilled in the C and C++ computer languages. These are used in distributed computing, which is one...
GE Offers Credit Card with Lure of Rebates
NEW YORK - GE Capital Corp. on Wednesday unveiled a general-purpose Mastercard that carries a steep $25 annual fee but could return $1,000 a year in benefits to active users. The long-anticipated product also carries a variable interest rate that...
Okla. Oilman Proving His Mettle as Banker
Some executives might be tempted to relax after a chancy bank rescue, but not Oklahoma oilman George B. Kaiser. Having done the impossible, he is now happily tackling the difficult. In his largest expansion since buying the then-languishing Bank...
OTS Submitting Plan to Combat Rate Risk
WASHINGTON - Thrift regulators will formally propose today a detailed formula for reducing interest rate risk that could eventually apply to commercial banks that invest heavily in home mortgages. The proposal would require about 80 thrifts to raise...
Prevention the Best Cure for SEC 'Remedies.' (Financial Institutions Should Institute Internal Accounting Controls along Securities and Exchange Commission Guidelines) (Column)
From the banking industry perspective, the Securities and Exchange Commission has joined the big league of regulators using hardball tactics to enforce federal law. The potent SEC has given itself the mission of investigating possible securities...