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. 159, No. 114, June 15

Agencies like Senate Loan Plan for Small Businesses
WASHINGTON -- With Congress preparing to wrap up work on community development legislation, regulators on Tuesday urged lawmakers to adopt a Senate-passed measure that would encourage securitization of small-business loans. At the same time, the...
Bankers Trust and Charles Schwab Sign Bellsouth as First 401(k) Client
Nearly a year after they agreed to collaborate in marketing retirement savings plans to corporations, Bankers Trust New York Corp. and Charles Schwab Corp. have signed up their first client. On July 1, Bellsouth Corp., an Atlanta-based communications...
Benefits Transfer, Stored-Value Cards Seen as Prime Opportunities for Banks
The Bankers Roundtable report on the future of payment systems lists electronic benefits transfer and stored value cards among future business opportunities for banks. The report, previewed last week and due to be published within a few weeks, was...
Boeing's Loan Plan for Employees Is Low-Key
SEATTLE--Boeing Co.'s approach to its residential lending program for employees is strictly low-key. This puts Boeing poles apart from PHH US Mortgage Corp., Mount Laurel, N.J., and Lincoln Service Mortgage Corp., Owensboro, Ky., which run the program...
CoreStates Merger Deal Was Called off over CEO's Estate Planning
A privately held investment advisory firm revealed Tuesday that its chief executive backed out of a $55 million stock merger with Philadelphia-based CoreStates Financial Corp. weeks before the deal's closing. George W. Connell, president and chief...
Home Banking 'Utility' Venture Sees Deals Near
After several months of quiet preparations, Interactive Transaction Partners is poised to make a splash in the home banking market, its chief executive officer said last week. J. Randall Peyser, president of the joint venture by three powerful technology...
House Version of Credit Bill Seen as Better but Still Burdensome
WASHINGTON -- Bank lobbyists said a credit reporting bill that cleared the House Monday is much improved from earlier versions but warned that the measure would still add modestly to the industry's regulatory burden. "The industry won't exactly...
Memphis Seen as Southern Hotbed of Prime Regional Takeover Targets
NASHVILLE -- While most analysts are fixated on better known markets in Florida and Virginia, Henry Coffey of J.C. Bradford & Co. points to Memphis as the likely site for consolidation in the banking industry. The city, which falls within or...
Minnesota Pair Push Off-Site Bank Exams
Community bankers who are tired of examiner squads in vading their office and gobbling up space and staff might consider the ideas of Ronald L. Ingersoll and James A. Dosen. The Minnesota pair have struck an informal partnership to investigate how...
NationsBank Unit's New Chief Ready to Lead Drive for Growth
NationsBanc Mortgage, which has been shopping for mortgage banks lately, has brought home instead an impressive new president. The Dallas-based unit of NationsBank Corp. has hired Andrew D. Woodward Jr. from Fleet Mortgage Group to lead it into...
PNC Begins Selling Life Insurance at Retail
PNC Bank Corp. has entered the life insurance business with a retail sales program spanning several states. The Pittsburgh-based banking company this month tapped more than 40 sales representatives to market life insurance. The initiative is an...
SEC Scrutinizes Money Fund Investment Practices
The mutual fund industry, including some banks that serve as advisers, is coming under scrutiny from the Securities and Exchange Commission for investment practices in money market mutual funds. The attention, which follows a series of publicized...
Shake-Ups at Big Banks Cheer Long Island Chief Exec
SARATOGA SPRINGS, N.Y. -- Thomas F. Goldrick Jr., chairman and chief executive of State Bank of Long Island in New Hyde Park hasn't been this excited about banking in a decade. What's lifted Mr. Goldrick's spirits? A series of shake-ups of middle...
Software Measures Borrowing Capacity of Small Businesses
Credit Management Solutions Inc. has released a lending system specifically for evaluating the creditworthiness of small businesses. The software, called InCredit, is also suitable for use by leasing companies, Credit Management said. It was developed...
Southern National's CEO Engineers Transformation into a Bistate Force
WINSTON-SALEM, N.C. -- Southern National Corp. finished the 1980s as a sleepy alsoran confined mainly to the eastern part of North Carolina. Now, midway through the 1990s, it has become a highly profitable regional bank, with a strong franchise in...
Stock Downratings Signal Skepticism on Bank Rally
Analysts downrated Chase Manhattan Corp. and SunTrust Banks Inc. Tuesday - a sign of uncertainty that the recent rally in bank stocks will last. Lawrence W. Cohn of Paine-Webber Inc. downrated Chase, the nation's sixth-largest bank holding company,...
Texas Banks Are Targets for Mexican Buyers
With passage of the North American Free Trade Agreement, there is a growing interest among Mexican banks and investors about entering the United States banking market. The Texas banking market offers attractive opportunities for a Mexican bank investor...
Texas Commerce Offers Anti-Fraud Service for Small Business
Texas Commerce Bank is offering a service meant to help small businesses using personal computers prevent check fraud. The program, which the bank calls Checkmate, was developed by BankLink Inc., a subsidiary of Chemical Banking Corp., which is...
Thrift Rulings May Prod Congress to Address Statute of Limitations
WASHINGTON -- A Supreme Court decision making it harder for the government to prevail in court cases involving failed thrifts increases the likelihood that Congress soon will intervene in the matter, government officials said. On Monday, the Supreme...