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. 162, No. 2, January 3

'97 Gets off to Weak Start as Manufacturing Index Rekindles Rate Fears
Bank stocks continued to languish on Thursday as positive economic data refueled fears of higher interest rates. The National Association of Purchasing Managers reported that its index on manufacturing activity rose to 54 in December, from 52.7. The...
A Hot Stock Picker's Advice for '97: Think Small; Ex-Fidelity Superregional Whiz Touting Small-Caps
Superregional bank stocks may have ruled the market in 1996, but small-cap financial stocks will dominate this year. So says portfolio manager Remy W. Trafelet, who had a meteoric rise at Fidelity Investments by betting on the stocks of large banks....
A Race to Serve Midsize Firms in Capital Markets
Banks are rolling out the red carpet to welcome midsize companies to a club that until recently was restricted to the biggest corporations: the capital markets. First Union Corp. enlarged its capital markets group by 20% to 1,800 in 1996 and will add...
Bank of Boston Losing U.S. Asset Management Chief
Susan P. Haney, one of the most prominent executives in the U.S. private banking business, is resigning from Bank of Boston Corp. Ms. Haney, 47, who currently holds the title of group executive for domestic asset management, informed her staff on Monday...
Banks Post a Stellar Year on Wall St.; Stocks Up 36%
It was a banner year for bank stocks in 1996, with shares at large and small ones outperforming a strong bull market. The American Banker bank index, which covers shares at 225 banks, rose 36% in 1996, compared to 21% for the S&P 500. Large banks...
... but Finance Companies Find Reason for Cheer amid Rising Consumer Woes
To most lenders, rising credit card delinquencies, high consumer debt levels, and record bankruptcy filings look like danger signs. But to finance companies that cater to homeowners with shoddy credit histories, they signal good times. At this time...
Courts: Banks Not Liable for Clean-Up Costs
The banking industry's long battle to shield itself from liability for environmental cleanups on foreclosed properties may finally be over. The federal appeals court in Cincinnati has ruled that recently enacted amendments to the Superfund law prevent...
High Prices Could Make Midsize Sector Tricky
Just as banks are pouring resources into providing midsize companies with capital markets access, some experts are sounding cautionary notes. The rising stock market has pushed up the price of acquisitions, which could make some deals tricky to finance,...
Home Loan Banks Get Power to Set Salaries of Their Presidents
The Federal Housing Finance Board on Thursday handed over responsibility for setting the salaries of the 12 Federal Home Loan Bank presidents to their boards of directors. The new rule, published in Thursday's Federal Register, is part of the agency's...
In Rush to the Net, Most PC Owners Bypass Banks
Among the millions of consumers feasting on the Internet and on-line computer services, electronic banking satisfies few appetites. In the latest American Banker/Gallup consumer survey, banking by personal computer was a mere blip on the on-line horizon....
Md. Bankers Association Decides to Let Thrifts Become Full Members
No longer divided over deposit insurance issues, Maryland's banks have decided to let the state's thrifts become equal members of the Maryland Bankers Association. The thrifts' own trade group shut down June 30 for lack of money; the Annapolis-based...
Perils of Using Statistics to Show Presence or Absence of Loan Bias
Why Some Studies to Prove or Disprove Bias Are Flawed My commentary here on Nov. 10 was quite critical of the attention given to racial disparities in mortgage rejection rates. My principal point was that those who focus on large racial disparities...
Phone Banking Keeps Rising, but Satisfaction Is So-So
In contrast to banking by personal computer, telephone-based services are widely used and growing steadily, and the industry is scrambling to meet the quality standards that consumers expect over the phone. The 1996 American Banker/Gallup consumer survey...
Progress on Wider Powers Is Win for Insurers, Too
In between bowl games, some will turn attention to New Year's resolutions. Here are some musings for life insurers, bankers, and other financial intermediaries to ponder as the New Year's prospect of real reform for financial services remains uncertain....
Rush on Northeast's Bigger Thrifts Seen Likely
With thrifts and commercial banks across the country pairing off as frequently as couples in a Virginia reel, analysts say it won't be long before some of the Northeast's largest savings institutions start to attract attention. This year could be the...
Seeing Opening after a Buyout, Bank Seeks Correspondent Role
A Minnesota community bank is taking advantage of industry consolidation to enter a niche dominated by big institutions: correspondent banking. Perceiving demand by independent banks for a correspondent provider that wasn't also competitor, Liberty...
Serious Card Delinquency Hits Unprecedented Level
Contrary to some recent hopeful signs in consumer credit quality, the most seriously delinquent credit card loans have climbed to record levels. As tracked by Veribanc Inc., bank card loans at least 90 days past due or in nonaccrual status surpassed...
With Munis in Eclipse, Nuveen to Push Bank Sales of Stock Funds
John Nuveen & Co., a mutual fund company best known for its tax-free bond offerings, is stepping up a fledgling effort to pitch stock portfolios to bank customers. Its first plan of attack: a marketing campaign starting in January that targets bank...