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. 164, No. 162, August 24

Banks Top Retailers in 6 of 7 Call Center Categories
Banking call centers outperformed retailer call centers in a recent benchmarking survey. The 1999 O'Connor Retail Benchmark Report ranked banking call centers higher in six of seven attributes measured. Compared to the five retail call center...
Big Banks Rise on Prospect of Moderate Rate Hike
Bank stocks rallied Monday as investors apparently shrugged off the increase in interest rates anticipated today from the Federal Open Market Committee. Citigroup Inc., J.P. Morgan & Co., and First Tennessee National Corp. were standouts in...
Calif. Service Firm Starts Trading Site for Money Funds
Capital Network Services, a San Francisco mutual fund service provider, has unveiled a Web-based fund supermarket for investors looking to trade in and out of money market funds quickly. Capital Network is the first company to offer an Internet...
Carrer Tracks: Today's Teller Embodies Banking's Evolution @sh#As Services Widen, Customers' Contact Point Becomes a Sales Gateway
In the world of banking, the teller has always occupied a clear and narrowly defined place. Traditionally, a good one handled customer transactions at the window quickly and accurately. The word "teller," after all, comes from the Dutch verb, "tellen,"...
Comment: Banks Should Sell Solutions, Not Just Products
Bank One Corp.'s marketing guru of the 1970s and 1980s, John Fisher, introduced the revolutionary idea of building a complete "financial playground." He envisioned a time when customers would be drawn to an integrated financial service center for more...
Confusing, Distracting, Self-Serving: Top Gripes about Banks' Web Sites
NEW YORK - Banks are doing a poor job of making their Web sites user-friendly, according to a survey by the strategic marketing company Netsmart America. Of 1,000 people interviewed by Netsmart, 91% said bank Web sites are difficult to navigate...
Holding Company Group Declines to Join Roundtable
WASHINGTON - The Association of Financial Services Holding Companies said Monday that it has rejected a merger overture from the Financial Services Roundtable. Patrick A. Forte, president of the holding company association, which represents 25...
Insurance: Disasters Pose Challenges to Bank Agencies
A Kansas twister that ripped up five houses changed the way Capitol Federal Financial's insurance agency does business. The 1993 tornado spawned a barrage of claims, mostly from expensive hail damage, against the Overland Park banking company's...
N.C.'S Centura Takes Big Step with $608M In-State Deal
Centura Banks Inc. announced its biggest acquisition deal on Monday, saying it would buy Triangle Bancorp of Raleigh, N.C., for $608 million of stock. The deal, valued at 3.6 times Triangle's book value and 24.3 times its earnings, would create...
Outsourcing Gains Favor as Banks Flock to Internet
Banks and their financial service rivals -- even big ones -- are turning to outsourcers as they flock to the Internet. Among those recently opting to have outside parties run their Internet operations are American Express Co. and Bank One Corp....
SEC Strengthens Its Limits on Mutual Fund Insiders' Trading for Personal Gain
The Securities and Exchange Commission on Monday tightened rules for personal trading by mutual fund insiders. The amendments to Rule 17j-1 of the Investment Company Act of 1940 require greater oversight by mutual fund boards of directors, more...
Small Massachusetts Thrift Plans Internet-Only Bank
Following in the footsteps of some of the nation's largest banks, a small Massachusetts thrift company plans to form its own Internet-only bank. Brookline Bancorp, parent of a five-branch thrift just outside of Boston, has filed a request with state...
Today's News
WASHINGTON THE ASSOCIATION of Financial Services Holding Companies has rejected a merger overture from the Financial Services Roundtable. Page 2 REP. MARGE ROUKEMA plans to hold a hearing next month on a bill that would let banks make certain...
Virtual Mortgage Lenders Getting a Taste of Reality
Lots of books, CDs, and clothing have been sold over the Internet, but home mortgages have been slow to follow. Forecasts put Internet lending at $18.7 billion this year, $32.2 billion next year, and $91.2 billion by 2003 nearly 10% of the market....
Visa's CEO Planning a Shake-Up That Could Cut Jobs and Fees
Visa International chief executive officer Malcolm Williamson is pushing his organization in directions that might have seemed contradictory a few years ago. Mr. Williamson, refusing to "rest on laurels," is planning moves "that will change our...
Wall Street Watch: Countrywide Prices an $847M Securitization
Countrywide Home Loans priced an $847 million securitization of home equity loans last week -- its largest to date, the company said. The securitization was for 10 classes of fixed-rate loans and four of floating-rate loans. The deal, lead managed...
Weekly Adviser: Lessons on Lending from a Nonlender to Loan-Officer Wannabes
J. Howard Laeri, executive vice president of the American Bankers Association a couple of decades back, used to lament, "It takes four years to train a jet pilot, and we take five years to train a lending officer." Of course the response of lending...