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. 175, September 12

Ahmanson Unit Gets CPI's Mortgage Servicing Software
Home Savings of America, Irwindale, Calif., signed an agreement with Computer Power Inc. for mortgage servicing software and conversion services. Home Savings, with assets of $50 billion, has a mortgage portfolio of approximately 500,000 loans....
Antinori Offers IBM-Integrated Check Research System
SOFTWARE INC., Allanta, released an image-based check research system that integrates International Business Machines Corp.' s image solutions with Antinoti' s Tramit Research System. The image-based research system accommodates low to very high...
Banc One Selling Four Michigan Units
Banc One Corp. said it will sell four of its affiliated banks in Michigan to Citizens Banking Corp. for $115 million in cash. The Columbus, Ohio-based superregional's affiliates, located in the cities of Ypsilanti, Sturgis, Fenton, and East Lansing,...
Banking Families Team Up in K.C. Suburb
Two Kansas banking families are joining forces to go de novo in Johnson County, a booming Kansas City suburb that has been a hotbed of big-bank acquisition activity in recent years. The Winters, who own Peoples National Bank and Trust, Ottawa, and...
BankSouth Puts Its Trust in an Outsourcer
BANK SOUTH CORP. has taken a look at the record keeping of its trust depanment and found the most profitable way to conduct the business is to hire an outsourcer. Earlier this year, the $6.6 billionasset banking company started to outsource the...
Bank Stocks among Big Losers as Market Reels on Inflation Data
An unsettling inflation report sent financial markets into a tailspin Friday, with bank stocks taking one of the biggest hits. Stock prices sank in sympathy with bonds. The Dow Jones industrial average plunged 33.65 points to close at 3874.81 ...
Bill on Clinton's Desk Could Bring Secondary Market
WASHINGTON Tucked between titles in the community development bank bill is a proposed law that may spell relief for small business and commercial real estate loan secondary markets. The Small Business Loan Securitization and Secondary Market Enhancement...
BOK Financial's Roller Coaster Ride May Signal a Sale
To say shares of thinly-graded BOK Financial Corp. have behaved erratically since the star[ of the year would be an understatement. The company's stock price has bounced around haphazardly, and while there are a host of possible reasons for the...
Caliber of Ariz. Installs Sendero Risk Software
Caliber Bank, the largest independent bank in Arizona, is installing asset/liability management software that's expected to enhance the bank's ability to evaluate risk, officials said. The program, from Scottsdale, Ariz.-based Sendero Corp., was...
Canadian Credit Union Capitalizes on Client-Server
MANAGEMENT AT Vancouver City Savings Credit Union knows the value of providing a high level of service and the use of technology to get the job done. But, instead of focusing on the installation of the latest and greatest technology, management...
Conn. Start-Up Betting the Customers Will Shop Locally, Given the Choice
STAMFORD, Conn.- Fred DeCaro is declaring war on big banks. "I want to clean your clock because you don't do banking the right way," he said with intense determination to an imaginary CEO as he drove his Ford Taurus from his Stamford office to nearby...
Coverdell of Atlanta Expands Insurance Sales Pacts with Banks
Coverdell and Co., an Atlantabased insurance-marketing firm, is striking new agreements with banks to sell insurance to its customers. The company recently added Birmingham-based AmSouth Bancorp. and Houston-based First Interstate of Texas to its...
Dime Adopts Client-Server Mortgage System
Hard on the heels of its recent merger, Dime Bancorp has begun streamlining its mortgage unit with a new client-server system. The New York-based bank holding company, which merged with Anchor Bancorp two months ago, is using a Unix-based system...
Dubai's Mashreq Bank Taking on a Western Look
MASHREQ BANK MAY BE based in the United Arab Emirates, but its retail operation is beginning to look a lot like those at western banks. Mashreq, a Dubai-based bank with $3 billion (U.S.) of assets, has been transforming itself into a more service-oriented...
Electronic ID Gives Bank of Boston Clients Easy, Safe Access
BANK OF BOSTON CORP. has found what it believes to be a foolproof way to provide its corporate customers with secure electronic access to their financial information. The superregional bank found that customers wanted to have the ability to access...
Executives Provide Perspective on Credit Card History
For a special historical retrospective on credit cards published last Friday, American Banker asked a number of industry leaders and observers to provide some thoughts and impressions about this banking success story. Here are some that did not appear...
Fannie, Freddie 'Juggling' to Boost Profits; They're Buying Up Mortgage Securities for Investment Income
As the mortgage industry slumps, Fannie Mae and Freddie Mac are finding some intriguing ways to boost profits. In a strategy that one analyst has dubbed "mortgage juggling," the two titans are buying up growing amounts of outstanding mortage securities...
Finding the Right Balance between Risks and Rewards
Mortgage finance companies are focusing on higher profitability at acceptable risk levels. The critical risks in loan origination relate to operational and creditor underwriting risk. Higher interest rates reduce volume, and low volume in turn...
How Can Banks Leverage Their Electronic Mail Systems?
Robert Peyton Director of marketing Pegasystems Inc Cambridge, Mass E-MAIL SYSTEMS HAVE, in fact, facilitated good communications but they don't always provide productivity gains. The good news about E-mail is makes it easier to communicate....
In Florida, Some Small Banks Are Getting Hot
Out-of-state banks that would like a piece of the Florida community banking industry may find that the pie has been mostly eaten. But there are still community banks and thrifts, some smaller than the takeover targets of just five years ago, that...
Judge Hints He'll Back Regulator's Decision to Let Credit Union Broaden Its Membership
WASHINGTON -- A federal judge hinted Friday that he will uphold the National Credit Union Administration's decision to let a North Carolina credit union add groups that have no connection to its original sponsor. The "common bond" that unites credit...
Keyport Sales Hook for Annuities: Big Commissions
Variable annuities are getting a big marketing push once again from Keyport Life Insurance Co. This time, the Boston-based company is homing in on sales representatives, and emphasizing that they stand to make big commissions from Keyport's higherthan-usual...
Little Fentura a Pacesetter on Information Superhighway
There's a Michigan bank that has teamed up with one of the nation's biggest telecommunications companies to be a showcase for new technologies such as home banking via computerized telephone. The bank was also out in front in issuing laptop computers...
Managing the Hard and Soft Sides of Change
Banking used to be easy. But what once was a simple business where money came in at one rate, was lent out at another, and where not much changed from year to year, is now engulfed in change. Just consider the scope and impact of changes in competition,...
Minnesota's TCF to Buy Big Thrift in Michigan
Minneapolis-based TCF Financial Corp. accelerated its expansion in the Midwest on Friday, announcing an agreement to buy the $2.8 billion-asset Great Lakes Bancorp, Ann Arbor, Mich. The stock swap, worth $195 million or 164% of book value. is TCF's...
Nonbanks Up Another Notch in Card Loan Outstandings
Nonbanks have gained more ground against banks in the intensely competitive credit card business, the annum American Banker card industry survey indicates. Of the nation's top 50 credit card programs, 13 are owned by nonbanks and are gamering an...
'Nothing to Report' Is the Best News before Mergers, Too
When people ask me what is the most important news in a community bank, I usually reply "The most important thing is that there is nothing to report." Were I to write a column on the most significant developments in Schmidlap National (our prototype...
Stage Set for Action on Branching Bill
WASHINGTON -- The Senate's Democratic leaders are expected to try to move interstate branching early this week - perhaps even Tuesday - when Congress returns from a long August break. Although the bill still faces significant hurdles, industry advocates...
The Servicing Corporation: An Alternative to Outsourcing
ONE OF THE MORE innovative approaches financial institutions have taken recently to improve the services they offer involves creating separate service delivery arms or corporate entities. These offshoots of the parent bank are devoted to specific niches...
Thrifts Are Growing Again, but Crisis Seen on Insurance
WASHINGTON The thrift industry grew for the first time in six years, but its top regulator warned Friday that it may face extinction. The danger comes from the "looming" prospect that thrifts will pay more for deposit insurance than banks, said...
Using CRA to Help Rebuild the Bronx, Activist Group Takes on the Big Banks
WASHINGTON -- Most bankers see the Bronx as a crimeridden slum, full of abandoned buildings and burdenecf with most of society's evils. But when Inner City Press/Community on the Move thinks of the Bronx, it sees an area of great potential that's...