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. 161, No. 30, February 14

Banc One Forms Group for Commercial Lending as Part of Consolidation
As part of its move to centralize operations across the company, Columbus, Ohio-based Banc One Corp. has formed a council of eight commercial bankers to oversee commercial lending products and operations. However, the bank said it would like to leave...
Boatmen's Aids Equipment-Lease Deal
When a consortium of road construction companies came to Boone County National Bank asking to refinance a short-term equipment loan, bank officials had a problem. The consortium wanted to stretch out the repayments on the equipment while seeking new...
Canadian Firm Makes Inroads with Data 'Pipes' for Internet
A Canadian provider of leading-edge communications technology is starting to make its mark with banks that want to improve the security of their internal data flows. TimeStep Corp. of Kanata, Ontario, has developed a technology that enables banks and...
CCB Stock Wins 'Buy' Rating on Strength of Acquisitions
Shares of CCB Financial Corp. gained Tuesday after Interstate/Johnson Lane put the Durham, N.C.-based company on its "buy" list. The Atlanta firm said it had upgraded the CCB's shares from a "neutral" rating because it expects the bank will benefit...
Class-Action Lawsuits Are Pummeling Banks
Bank One, Columbus, bought collateral protection insurance for a borrower who let her own car insurance lapse. The bank now faces civil racketeering charges. Citibank, South Dakota, charged California residents fees for paying their credit card bills...
Commercial Mortgage-Backeds, Boosted by the Thrift Bailout, Becoming a Fixture for Lenders
After a boost from the government's savings and loan bailout, the secondary market for commercial real estate loans appears to have gained a permanent place on the lending landscape. Despite higher interest rates early in the year and the gradual withdrawal...
Congress Urged to Pass Thrift Fund Rescue Bill to Stem Loss of Deposits
Congress must act quickly to shore up the Savings Association Insurance Fund or it may be unable to meet its obligations to depositors, banking regulators told lawmakers Tuesday. In a letter sent to House Speaker Newt Gingrich, Senate Majority Leader...
HUD Tackling Big Task in Settlement Act Talks
Last year witnessed historic negotiations with regard to world trouble spots and the federal budget. While admittedly of a lesser magnitude, negotiations initiated by the Department of Housing and Urban Development could have a huge impact on the mortgage...
KeyCorp CEO's Upbeat about the Rebuilding Job
Like a lot of other bank chief executives, KeyCorp's Robert Gillespie knows one stumble can quickly transform a bank from a survivor into a takeover target. Looking into the future, Mr. Gillespie and others at the Cleveland-based company didn't like...
Labor Unions Wooing Worried Bank Employees
Labor unions are going after bank workers with a newfound optimism. Long stifled in their bank-organization attempts, unions are playing the merger card, pointing to the massive layoffs from large-bank consolidations that have brought an unprecedented...
Mellon, Cutting Back in Md., Pins Hopes on Superbranches
Mellon Bank Corp. executives said the bank didn't have the branch network to compete in Maryland's mass retail market. But a retooled system of six "financial centers" may enable Mellon's Maryland subsidiary to profitably serve small businesses and...
Microsoft Signs Visa as a Processor; Pact Gives Banks Alternative to Intuit
Visa International has struck a deal with Microsoft Corp. to process payments for users of the Microsoft Money personal finance software. The result of months of negotiations that sparked persistent rumors in the home banking community, the agreement...
Nation's Taste for Country Retreats Seen Heating Up Vacation Markets
Loans for recreational homes may give mortgage lenders that service beach and lakefront communities a reason to celebrate in upcoming years. The number of households that purchase vacation homes is expected to almost double from 1990 to 2005, according...
Regulators Dropping Idea of Rate-Risk Capital Rule
The U.S. banking agencies are close to giving up on devising a capital standard for interest-rate risk. This would be a big victory for bankers, who have criticized regulators' rate risk proposals as burdensome and flawed. It would also mark a big step...
Sale Seen Reviving TRW Credit Reporting Unit: Market Share Had Dwindled under Preoccupied Parent
TRW's credit reporting business, which it agreed to spin off to an investment group last week after years of losing market share, should thrive under its new majority owners, analysts say. TRW Information Systems & Services Inc., which sells real...
Signet High-Yield Account Meant as Fund Door-Opener
Signet Banking Corp., one of banking's more innovative marketers, is pursuing mutual fund assets with an unusual lure: a money market deposit account with a lofty yield. Executives of the Richmond, Va.-based banking company refused to discuss the product....
S&P to Air Private Placement Ratings
Standard & Poor's is planning to make public its ratings on some privately placed debt issues. The ratings group was expected to announce this week that it has decided the 144A private placement market is sufficiently liquid and mature to require...
Tuning Up Staffing Strategies to Set Tone for Success
In a previous column, I pointed out the importance of the bank's human resources as a factor in providing added value to the customer. But how do you make sure that your human resource strategy is integrated into the business strategy of the company,...