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. 242, December 19

Bankers Trust Names Successor to Chairman of Australian Bank
Bankers Trust New York Corp. has appointed David Williams as deputy chairman of its Australian banking unit, paving the way for him to take over the bank's fast-growing operation when the current chairman, David Hoare, retires at yearend. Mr. Williams...
Bank of Boston Hunger for Latin Banks Lingers despite Recent Pullbacks
Bank of Boston Corp. will continue its hunt for an acquisition in Latin America despite last week's decision to pull out of the bidding for Brazil's Banco do Estado do Rio de Janeiro SA. "Brazil is one of the countries we are most interested in expanding...
Calif. Thrift's New Brokerage Chief Plans to Boost Staff, Sales
The new president at American Savings Bank's brokerage unit plans to beef up her staff and take advantage of the unit's close affiliation with the California thrift's mortgage operations. J. Pamela Dawson said she plans to add 22 sales people and two...
Court: Calif. Bank Must Repay Deposits OTS Gave by Mistake
A federal court in California has ordered a bank to repay $6.9 million in deposits and interest that the Resolution Trust Corp. accidentally overpaid to the bank seven years ago. The decision by the U.S. District Court in Los Angeles requires Rosemead,...
EDS Sets Up Unit to Woo Globe-Spanning Banks
Electronic Data Systems Corp. said it has reorganized to go more aggressively after computer services contracts from multinational banks. The data processing giant has created a global banking division based in New York and headed by Stephen R. Bova,...
Face-Lift at Kentucky's Trans Financial Is Completed with New CEO, Refocusing
When the board of Kentucky's Trans Financial Inc. this week made Vince Berta president, it formalized the complete makeover the company has experienced in the last six months. Bowling Green-based Trans Financial on Dec. 16 appointed Mr. Berta president...
Fed Seen Hiking Section 20 Cap in Vote Friday
The Federal Reserve Board is expected Friday to free commercial banks to earn more money from securities underwriting. The Fed will vote on a July 31 proposal to increase to 25%, from 10%, the amount of underwriting revenue bank section 20 units may...
Financing Casino Ships a Complex Business
With gaming established as one of America's fastest-growing industries, financing casinos may appear to be a sure thing for bankers. The reality is more complex, however, in particular when it comes to "floating" dockside casino gambling and inland...
Five Years Later, FDIC Law's Impact Still Controversial
Five years ago today, Congress handed regulators broad new powers in the Federal Deposit Insurance Corp. Improvement Act. Though the industry has rebounded from near-catastrophe in the early 1990s, the verdict on FDICIA may not be decided for years....
In Fitch's Home Equity Evaluations, Borrower Profiles Are Key
In a move that recalls the days of relationship banking, a large rating agency has decided that borrowers' behavior - and not the value of their property -is the most important consideration in evaluating home equity credit. Fitch Investors Service,...
Late Card Payments Show 1st Dip since '94, ABA Says
For the first time in two years, delinquency rates have improved on credit card and closed-end consumer loans, the American Bankers Association said Wednesday. At the end of September, 3.48% of credit card accounts were at least 30 days past due, down...
Lenders Consider Joint Ventures like HomeSide
When HomeSide Lending Inc. was formed from BancBoston Mortgage and Barnett Mortgage in May, many industry observers thought similar joint ventures would follow. More than half a year later, it hasn't happened. But now that Jacksonville, Fla.-based...
Market for Trust-Preferred Securities May Soon Suffer from Oversaturation
The market for trust-preferred securities - the hottest type of bank debt for the past two months - could soon lose steam, Wall Street sources said. Some investment bankers are worried that a deluge of issuance this week could oversaturate the market,...
OCC Rule on Subsidiaries Is Sound Public Policy
Comptroller of the Currency Eugene A. Ludwig announced recently a new rule governing operating subsidiaries of national banks. The rule provides that a national bank may establish a subsidiary to conduct any activity permissible to the bank or deemed...
Overhaul at Chase Has Fund Firms, Insurers Guessing
Sales executives at mutual fund and insurance companies are chomping at the bit as Chase Manhattan Corp. gets its brokerage house in order. Since Chase's merger with Chemical Banking Corp. closed last March, the bank is more than just the nation's largest...
PNC Home Banking System Connects to Nonbank Accounts
PNC Bank Corp. has begun offering a home banking service that lets customers electronically transfer money to and from accounts at other financial services providers, such as mutual fund companies. The service, based on personal finance software from...
Regions Financial Buying Another Small Atlanta Bank
Regions Financial Corp., looking to expand its presence in metro Atlanta, said it has agreed to acquire First Bankshares for $19 million in stock, or 2.2 times book value. First Bankshares is the parent company of $106 million-asset First Bank of Georgia,...
Texas Bank Says Chase Link Puts World at Its Feet
Ask Marc J. Shapiro what Chemical Banking Corp.'s merger with Chase Manhattan Corp. has meant for Texas Commerce Bank and he sums it up in two words - international sales. "Since the merger, the single biggest difference has been on the international...
Thrift Going Public Earmarks 3% of Its Shares for a Charity
As it enters a new phase by going public next week, Roslyn Bancorp is making an extra effort to remember its roots. The Roslyn, N.Y.-based holding company will endow $12.7 million roughly 3% of its shares - to the Roslyn Savings Bank Foundation, a charitable...
Transaction Automation's 'Other Visionary'
At Hypercom, "focus" is not the ordinary business cliche. It is a code word. When senior managers of the Phoenix-based transaction terminal manufacturer say they are focused, their subtext is, "We are not Verifone." With that, their competitor would...
Visa Runs Promotions Aimed at Film Fans, the Sports-Minded
Visa U.S.A. Inc. is now running a number of promotions designed to boost cardholder spending. The San Francisco-based association and United Artists Theaters are giving moviegoers a chance to win a $25,000 Visa travelers check. The promotion is in...