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. 160, No. 161, August 22

Against the Tide: S. Carolina Execs Buying Bank Back from SouthTrust
The 1,805 citizens of Latta, S.C., are about to get back their hometown bank - though in a highly unorthodox way. Six years ago, $19 billion-asset SouthTrust Corp. of Birmingham, Ala., bought Latta's only locally based bank as a jumping off point into...
At Credit Suisse Unit, an Old Hand Courts Wealthy Clientele
So far, so good. Barry R. Sloane figures that he's passed the six-month test and will get to keep his job at Credit Suisse, where he heads up private banking operations in the United States. "They'll always remember what you did wrong, never what you...
Bank of New York, Joining Crowd, Signs Up to Issue $1 Billion of Debt
Bank of New York Co. on Monday filed a $1.05 billion shelf registration with the Securities and Exchange Commission. The money-center joined a string of banks that have filed this summer to issue various types of debt. Bank of New York said that under...
Boom Seen in Banks on World Wide Web
A study by an industry newsletter confirms that a large number of banks post information on the Internet and predicts that the volume of on-line banking information will skyrocket in the next five years. The banking industry has been racing to set up...
BT Installing Document Software from Saros
Bankers Trust Co. is installing document management software expected to improve the flow of information bankwide. The software, Mezzanine, comes from Bellevue, Wash.-based Saros Corp. It is used to store and retrieve documents created internally using...
Citicorp Selling Its Stake in D.C.'S Abigail Adams to W. Va. Investor Group
A West Virginia investor group has become the majority shareholder of the nation's largest bank owned and managed primarily by women. In July, a group led by Marshall Reynolds, a former West Virginia banker, purchased 71% of Abigail Adams National Bancorp...
FDIC Pinned New Bank Premiums on Some Odd Forecasts
What was the Federal Deposit Insurance Corp. thinking when it decided this month to drop its rates to 4 cents for every $100 of domestic deposits? One key assumption is that deposits will increase as much as 6% a year - a gutsy prediction, considering...
First USA Raids USAA Federal for 'Branchless Banking' Pioneer
First USA Inc. has recruited one of the credit card industry's star executives to be its chief financial officer. Jack M. Antonini, who guided USAA Federal Savings Bank to industry prominence, will become First USA's vice chairman for finance and planning,...
Fiserv Buying Check Unit from Rival Alltel Corp
Fiserv Inc. said it has reached an agreement to acquire the check processing business of Alltel Information Services Inc., one of its top rivals in bank technology outsourcing. Milwaukee-based Fiserv said it will acquire Alltel Information's Document...
Hidden Costs of Credit Risks Can Eat Up Profits
During the past few years, changes in the financial services industry have put increased pressure on profits banks earn from the small-business segment. Lower interest rates have led to shrinking margins in loans and deposits to small businesses, commonly...
Huntington Bancshares Jumping on Life Insurance Bandwagon
Huntington Bancshares will soon begin selling life insurance through its Michigan branch network. The $19.4 billion-asset banking company, based in Columbus, Ohio, has signed its first agreement with an insurance company to sell life and health insurance,...
In Internet Push, Verifone to Pay $28 Million for Software Firm
Verifone Inc., the leading manufacturer of point of sale terminals, is branching out with an Internet commerce division to develop secure payment methods for computer networks. On Monday, just six days after announcing the new division, Verifone said...
Insider Sales Seen Driven by Bank Execs Expecting the Bears
Executives at U.S. banks, apparently anticipating a downturn in bank stocks, continued to sell their companies' shares at high levels in the past month. Insiders at money-centers, superregionals, and regionals alike shed their shares, said Robert Gabele,...
Insult Me Enough and I Eventually Get the Message
I used to bank at a community bank. But no longer. I didn't change my feelings about community banking. I would still love to feel that I am known and important to my bank. I always used to brag that one day the bank called me and said, "Mr. Nadler,...
Maestro Sets Incentives to Sign Merchants in Leading Tourist Cities
Maestro U.S.A. is dangling point of sale terminals and money as incentives to encourage banks and third-party acquirers to sign up merchants for a new on-line debit promotion in the 11 top U.S. travel destinations. With its Maestro U.S. Travel Destination...
MasterCard: Customers Would Switch Banks for Smart Cards
Consumers are so interested in smart cards that they'd switch banks to get one, according to a consumer survey conducted by MasterCard International. The survey queried 2,000 consumers in 23 U.S. cities and four cities in Australia, and found that...
Mortgage Bankers Say Second-Half Surge Could Push '95 Loan Volume Past Last Year's
Mortgage bankers across the country are optimistic that for them if not for thrifts, this year will end up surpassing 1994 - even with rates continuing to creep up. "Volume is not what it was in the refinancing boom two years ago, but on the whole things...
Mortgage Lenders See Credit Scoring as Key to Hacking through Red Tape
For years, mortgage lenders have relied on skilled underwriters, complex rules, and fat folders of application documents to decide whether they would make a home loan. Now, a push to automate the credit decision is leading lenders to use a technique...
Putting Workout Experience to Work
In the 10 years since Curt Bradbury left Stephens Inc. to help revive troubled Worthen Banking Corp., he has dealt with just about every problem a commercial banker can imagine. As chairman, president, and chief executive, Mr. Bradbury helped Worthen...
Standard Federal's FSB Deal Boosts Kalamazoo Franchise
Standard Federal Bancorp. said its $27.15 million agreement to acquire FSB Financial Corp. will bolster its presence in the hotly contested Kalamazoo, Mich., market. The all-cash deal, which was announced Friday, will bring $13 billion- asset Standard...
Streamlined Examination Process Gets High Marks from Small Banks
Community bankers are pleased with the Office of the Comptroller of the Currency's new simplified exam procedures for small, "noncomplex" national banks. At least that's what they told examiners who questioned them after exams conducted under the new...
Supermart Branches Wash out in Dallas Area
Though banks nationwide are vying for supermarket branches, a community bank that pioneered the concept in Texas seven years ago is giving up on the idea - at least for small banks in big cities. "I was willing to set up supermarket branches all over...
Was Bias Case a Beginning or an End?
One year to the day after Chevy Chase Federal Savings Bank settled its controversial fair-lending case, the banking industry still can't agree what it means. Observers are split into two camps: those who believe Chevy Chase is just the start of things...
Wells Bets on Efficiency Via Outsourcing
Every year, one of every eight homeowning households, on average, needs a mortgage - and bankers know it. "Our customers demand mortgages of us - and we must be able to provide them, with our own people doing the providing," the thinking goes. As a...