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. 165, No. 104, May 31

Bank One Pushing Global ACH Payment
Bank One Corp., giving legs to a corporate service that has yet to be widely adopted, is marketing cross-border automated clearing house payments. Officials at the Chicago banking company say the increasingly global economy and the Internet are providing...
Citi Starts Rebuilding Mortgage Unit: Once in Reed's 'Dog' House, Subsidiary Aims to Be Top-5 Originator
Frayed blue-and-white stickers on the glass doors bear the unit's old name, Citicorp Mortgage. But inside the office building in St. Louis, colorful new banners greet the visitor. "One company. One brand. One voice," says one. Another reads: "We are...
Electronic Commerce: Royal of Canada Makes an E-Commerce Alliance
Royal Bank of Canada has aligned itself with a Montreal-based provider of electronic commerce software to create a $20 million joint venture that will build industry-specific digital marketplaces for Royal Bank's corporate customers. Royal will also...
Former S&L Exec to File Countersuit against FDIC
Former savings and loan association executive Charles E. Hurwitz is expected to file a lawsuit against the government today claiming the Federal Deposit Insurance Corp. illegally funded a suit against him through another federal agency. The lawsuit,...
Hopes for Summer Rally Draw Investors to Banks
Bank stocks continued their rise Tuesday as investors anticipated a summer rally. Buyers have been optimistic that the Federal Reserve is almost finished tightening credit ever since it raised short-term interest rates 50 basis points on May 16. In...
HSBC's Insurance Depth May Give It U.S. Edge
As other banking companies weigh insurance options introduced by the financial modernization law, HSBC Holdings PLC is already poised to build up its U.S. insurance business. London-based HSBC, which operates 450 branches in New York state as HSBC...
Insurance Pact by PNC May Inspire Other Deals
PNC Financial Services' deal to sell property and casualty insurance and group benefit plans to its middle-market commercial clients under a new marketing alliance could be the first of many for the banking industry. "We will become an extension of...
Landmark, a N.Y. Thrift, Triggers a Buyout Duel
Its prized federal thrift charter has put Landmark Community Bank of Canajoharie, N.Y., in the middle of a bidding war between a commercial bank and a mortgage company. Private Mortgage Services Inc.'s informal offer in November to buy the $26 million-asset...
OCC: Not All Computer Models Super
National banks must regularly test the accuracy of computer models being used to make loans and manage risks, the Office of the Comptroller of the Currency said Tuesday. Because an increasing number of bankers are relying on computer-based financial...
Payment Processor Drafts Former CEO to Stop Skid
Payments processor Transaction Systems Architects Inc. has returned William E. Fisher to the chief executive officer chair, a move that officials said could help rejuvenate the company's floundering stock. TSA's typical growth rate of 15% began faltering...
Reorganized ABN Amro May Add to U.S. Holdings
ABN Amro's decision to reorganize its global operations along business lines means the company, which in the United States owns LaSalle Bank, European American Bank, and Standard Federal Bank, will soon decide whether it wants to add to its American...
San Diego Start-Up Aims to Fill Small-Business Void
As local banks continue to be swallowed up by larger out-of-towners, plans are in the works for the first new bank in San Diego County in three years. A group of business leaders, including several bankers, has received approval from the state's Department...
Study: Market a Weak Cop
When it comes to influencing management decisions, debt and equity markets may not be the disciplinarians that banking company supervisors have heralded. In the past year, regulatory authorities from the Federal Reserve Board to the Basel Committee...
The Tech Scene: Patent Abuse May Plague Banks Next
As if banks lacked enough to worry about, up comes the issue of intellectual property. Thanks to a two-year-old change in policy at the U.S. Patent and Trademark Office, people outside the banking industry now can patent business practices that banks...