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. 158, No. 29, February 12

ABA Endorses Mutual Fund Marketing Firm
Wall Street Investor Services, a leading marketer for investment products through banks, has snared a potentially lucrative endorsement from the American Bankers Association. The ABA has decided to recommend the marketing company to member banks...
Atlantic Stewardship Puts Its Money Where Its Faith Is
By honoring an ancient tradition, Atlantic Stewardship Bank is blending banking with benevolence. The New Jersey-based bank engages in tithing, routinely donating 10% of its pretax earnings to an array of charities. Christian charity is "part...
Citicorp Rates a 'Buy' from Prudential Critic
Citicorp shares have won a buy recommendation from a long-time critic, Prudential Securities Inc.'s George M. Salem. This week's upgrade from a hold represents the first time Mr. Salem has recommended Citicorp's shares since 1985. He said he...
Citi Unveils Performance Index for Corporate Loan Portfolios
In an effort to attract new investors to the corporate loan market, Citibank has devised an index that it is promoting as a standard for evaluating the performance of loan portfolios. The "corporate loan index" -- which the bank calls the first...
Drop in Long-Term Rates Fueling a Mortgage Boom
Following a yearend slump the home-mortgage market is roaring back to life. A drop in interest rates has spurred brisk demand for both home purchases and refinancings, according to mortgage executives and industry surveys. The average rate on...
EPS Forms Group to Develop Stored-Value Payment Cards
Electronic Payment Services Inc., a joint venture formed last year by four superregional banks, has created a group dedicated to a new type of payment device called the stored-value card. The company put Donald J. Gleason, network manager of the...
Foley Backs Sanders' Bid for More Power on House Panel
WASHINGTON -- House Speaker Thomas S. Foley is trying to help Rep. Bernie Sanders, the self-described socialist from Vermont, obtain a better seating assignment on, the House Banking Committee. Rep. Sanders, who often votes with Democrats. on key...
Ford, Citi Are Aiming to Pass GM in Cards
NEW YORK -- Citicorp and Ford Motor Co., unveiling their long-awaited credit card Thursday, declared ambitious plans to surpass the rapid growth of General Motors Corp.'s card. The new product, which significantly escalates the war for credit card...
Long-Term Securities Rally after 30-Year Bond Auction
The long end of the government securities market rallied on Thursday on the heels of a successful auction of 30-year bonds. Stocks also advanced, while the dollar was firm. The Treasury Department auctioned $9.33 billion of 30-year bonds on Thursday...
Minority Banker: Help Is Needed in Tough Times
Jesse H. Turner Jr., the newly elected chairman of the National Bankers Association, said several developments are hitting his membership especially hard. The group, which represents 62 primarily urban, minority-owned banks, is particularly affected...
Savvy Bankers Remember Mother Nature
Environmental issues will help shape the banking business in the 1990s. It is not enough for bankers to pay attention to these issues; they need to know how to pay attention to them. When I was staff director for environmental affairs at McDonald's...
SEC Raises Prospect of Action against 'Bank Tying.' (Brief Article)
WASHINGTON -- Securities and Exchange Commissioner Richard Y. Roberts said Thursday that if banks and their regulators did not put an end to illegal "bank tying," the SEC could step in and take action. Although the SEC does not have direct authority...
Sellers May Suffer by Emphasizing Premium to Book
Bank sellers may be shortchanging themselves by fixating on getting the highest premium to book value in mergers. William Weiant, a bank merger specialist at Dillon, Read, & Co., said a seller should search for potential buyers whose stock can...
Today's Laws Require Lenders to Play Cop
These days lenders must be concerned with more than federal and state regulations for banks and thrifts. Workplace relations, lending practices, and public access to lending institutions, for example, are directly affected by various new rules. ...