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. 88, May 8

1Q Results, Accounting Shift Trigger S1 Selloff
Software vendor S1 Corp. said last week that its first-quarter earnings were generally favorable, but investors seemed more fixated on the its loss of 35 cents per share, which was higher than the consensus estimate of 23 cents. S1's stock price...
Amcore of Illinois May Face Stockholder Revolt Tuesday
When Amcore Financial Inc. holds its annual meeting Tuesday, shareholders are expected to demand the Rockford, Ill., banking company put itself up for sale. Despite a strong market position, earnings at the $4.4 billion-asset company have been sluggish...
Analysts: Hudson United Is Merger Bait
Hudson United Bancorp of Mahwah, N.J., has been conspicuously quiet about its future since its planned merger with Dime Bancorp collapsed April 28. The $9.3 billion-asset company's silence has led analysts to start speculating. "One would assume...
Arshad Zakaria Named Chief Risk Manager at Merrill Lynch
Merrill Lynch & Co. in New York has promoted Arshad R. Zakaria to senior vice president, head of corporate risk management, and a seat on its management committee. He succeeded Richard A. Dunn, who is now president of Merrill's securities services...
Astoria Sets Up an Insurance Agency
Astoria Financial Corp., a New York thrift company, has established an insurance agency and begun marketing life, health, property, and casualty insurance through its 87 branches. The $22.9 billion-asset company in Lake Success, which started its...
Chase Drops on Expectation Venture Capital Unit to Slow
Shares of Chase Manhattan Corp. slid 1.45% Friday after Sanford C. Bernstein & Co. cut second-quarter and full-year earnings estimates for it because of expectations that venture capital revenue growth would slow. Analyst Ronald Mandle cut his...
Citi and Chase Join Shift Away from Card Incentives
Citigroup Inc. and Chase Manhattan Corp. recently adopted a policy of charging their customers a fee for transferring credit card debt to their Chase and Citi accounts. Free balance transfers used to be a standard inducement for customers to change...
E-Trade Reinvention about Fun and Gains
Online Broker Becomes Media Firm as Sideline Becomes Core Business Eighteen months ago, E-Trade Group Inc. began an effort to become more fun. Convinced that it was not enough just to offer discount stock trades and other routine financial services,...
Ex-Bank One Lobbyist Sues, Charging Age, Sex Bias
Lobbyist Annie Hall is suing Bank One Corp. for $15 million, claiming age and sex discrimination as well as "extensive retaliation" by superiors. The suit also names the company's president, Verne G. Istock, and a senior vice president, Gerald E. Buldak....
FDIC's Tanoue Warns Banks Taking Big Risks to Watch Their Step
Risky institutions that pay nothing for deposit insurance -- beware. In the two months since she unveiled an ambitious plan to question every aspect of the government's guarantee, Federal Deposit Insurance Corp. Chairman Donna Tanoue is starting...
Ginnie Backs off Plan Meant to Counter Home Loan Banks
Ginnie Mae has dropped a plan to unveil changes in a key mortgage securitization program at the National Secondary Market Conference that opens today in San Diego. The agency, which has new competition from the Federal Home Loan banks in the secondary...
Mortgage Insurers Launch Big-Bucks Image Makeover
The private mortgage insurance industry is set to launch a multimillion-dollar national print and radio ad campaign to improve its image, a move some see as overdue. Starting this month, the industry's trade group, the Mortgage Insurance Companies...
Suddenly, Less Is More in Silicon Valley Funds
SAN FRANCISCO - Until recently, Silicon Valley's venture capital firms followed a logic similar to the one that drove the megabank mergers of the last two years: Bigger is almost always better. That meant the size of their new investment funds,...
Today's News
WASHINGTON CHAIRMAN Donna Tanoue said the FDIC may develop a two-tier pricing structure for large and small institutions. Page 2 LOBBYIST Annie Hall is suing Bank One for $15 million, claiming age and sex discrimination at the company where she...
Treasury Hits Call for Delay of Privacy Bill
WASHINGTON - Treasury Under Secretary Gary Gensler on Friday dismissed the financial services industry's argument that the White House should delay privacy legislation to give pending regulations time to work. Instead he contended that the Clinton...
With Hire of J.P. Morgan Exec, Goldman Is Latest Trespasser on Banks' Trust Turf
Goldman Sachs Group Inc. has joined the growing ranks of brokerages marching into large commercial banks' territory of providing personal trust services to high-net-worth clients. The New York firm, which has hired Daniel M. FitzPatrick from J.P....