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. 171, September 7

Amsouth and Stockholder Systems Join on Risk Control
Amsouth Bancorp. and Stockholder Systems, Inc. announced last week that they had agreed to jointly develop a new risk management system. Norcross, Ga.-based Stockholder Systems specializes in designing banking software applications to run on International...
Attention, Shoppers: In Aisle 5, Bank South Mutual Funds
Bank customers in the Atlanta area will soon be able to shop for mutual funds at the supermarket. Bank South Corp., which operates 48 banking outlets in Kroger and Piggly Wiggly stores, announced that it will add investments to its product mix by...
Bankers Fight New Mexico Annuity Rule
New Mexico bankers are seeking to rid themselves of a law that prohibits banks from selling annuities in their lobbies. "We're trying to work something out. New Mexico is behind the times," said Barbara Dougherty. executive vice president of the...
Bank Groups Clash on Sales of Insurance
WASHINGTON - The Independent Bankers Association of America has "opened the door wide" for the insurance industry's drive to limit bank powers, a rival trade group official charged. Last week, the Independent Bankers said banks should be permitted...
Bank Stocks Rally on Grim Jobs Report
Bank stocks rallied Friday on the strength of a surge in the government bond market. The price of the 30-year Treasury bond rose about 1 1/2 points, cutting the yield to a record 5.94%. The Labor Department sparked the rally by reporting that...
Clinton Numbers Begin to Win Some Respect
The nation's economic policy-makers may, at long last, be getting it right. That was the implicit message behind the revised budget and economic forecast issued last week by the Clinton administration. But it remains to be seen if the long-range...
Fleet Mortgage Hires a Credit Card Veteran
Fleet mortgage group has hired a veteran of the credit wars for a newly created, No. 2 management post. Robert Golitz, formerly chief information officer of AT&T Universal Card Services, will be president and chief operating officer of the Columbia,...
IBM Bank Software Unit Gets Quality Stamp
The business unit within International Business Machines Corp. responsible for branch banking software was recently certified under international quality standards for design and service. The group, Branch Delivery Systems Software Development/Services,...
Incident in Vienna: A Case of Wrong Numbers
A group of Taiwanese tourists was detained and strip-searched last month after one of them tried to use his MasterCard in a Vienna boutique, in a foul-up that quickly became an international embarrassment to the bank card industry. A group of 21...
Keycorp Stumbles in Northwest, but Comes Up Smiling
In Washington State, Keycorp is showing that even a poorly executed merger can make money. At times, it has seemed that virtually everything that could go wrong has gone wrong in the Albany N.Y.-based company's $807 million acquisition of Puget...
More Banks Hopping on ADR Bandwagon
Hong Kong's Bank of East Asia Ltd. and Portugal's Espirito Santo Financial Holding SA recently issued American depositary receipts, highlighting the increasing popularity of these programs. They joined Argentina's Banco de Galicia y Buenos Aires,...
New York City Seen Losing Its Luster with Foreign Banks
New York City's status as a major financial center is in danger because of high taxes and other costs as well as heavy regulation, warns the new representative of foreign banks on the New York State Banking Board. The official, Gonzalo de Las Heras,...
Oregon Bank to Try System for Electronic Paperwork
On Oregon community bank has bought a computer system with sophisticated document-handling features that larger banks are struggling to adopt. To speed the processing of loans in its mortgage unit, Western Bank of Coos Bay will use computers and...
Regulators Seen Delaying Plan to Ease Appraisal Rule
WASHINGTON - Federal regulators are expected to postpone action on a plan that would let banks make larger loans without a certified appraisal. An announcement is likely by the end of September. More lenient appraisal rules were expected to take...
Revamp to Meet the Future, but Beware the Pitfalls
Our society is constantly attempting to cope with the economic, political, psychological, and organizational pressures of change. Few businesses are in greater transition because of these pressures than banks, where a change in management skills...
Roundup of Credit Rating Changes
The rating agencies took the following actions last week: BayBanks Inc.: Moody's Investors Service Inc. said it may upgrade the Boston-based company's Ba1 senior debt rating to investment grade: "The review was prompted by the company's continued...
South Had Nation's Worst Rates of Delinquency in Second Quarter
The Deep South posted the worst delinquency rates in the country during the second quarter, according to data released last week by the Mortgage Bankers Association of America. In all, eight of the 10 states with the worst mortgage delinquency rates...
Southwest Bank's CEO Dazzling Them in Texas
HOUSTON - It's late on a Friday afternoon, and Walter Johnson is exuberant. As he gives a tour of his bank's rapidly expanding headquarters, air conditioned against the 105-degree Houston heat, he continually turns the conversation toward an $8...
Thriving Mich. Thrift Is Focus of Questions on Industry's Future
Though he is a recognized master of the mortgage business, Thomas R. Ricketts is the first to concede that he cannot control his future. In today's environment, a one-product focus is no guarantee of independence. As chairman and president of Standard...
Visa's Nordstrom Deal May Signal a New Era
Visa U.S.A. announced jubilantly on July 21 that Nordstrom Inc., a retailer with which it had cool relations in the past, would become an issuer of Visa credit cards. Visa saw Nordstrom's desire to join Visa as a validation of the card brand and...