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. 13, January 20

Banks Rebuild Staffs for Emerging-Market Revival
As emerging markets continue to recover, banks are beefing up the research, trading, and investment staff they slashed barely 18 months ago. The turnaround comes amid a surge in prices for emerging-market debt and equity as investors who fled the...
Bear Stearns, DLJ Report Triple-Digit Profit Gains
Bear Stearns Cos. and Donaldson, Lufkin & Jenrette Inc. reported big earnings gains Wednesday, joining a procession of banks trumpeting healthy returns this week in investment banking and market-related activities. Bear Stearns reported a 105%...
Bogle: Banks Missing the Index-Fund Boat
Ex-Vanguard Chief Says They'll Never Have Big Role as Fund Managers VALLEY FORGE, Pa. -- Even after hanging up his hat as senior chairman of Vanguard Group, John C. Bogle is still preaching his indexing message to the fund industry and to banking...
Brain Drain: Execs Head for Exits at First USA
A stream of departures by senior-level managers at First USA, the credit card unit that is largely responsible for Bank One Corp.'s recent woes, shows that investors and Wall Street analysts are not the only ones looking to distance themselves from...
Chase, Fleet, Wachovia, and KeyCorp Join 4Q Stock Market Beneficiary List
Chase Manhattan Corp., enriched by equity investments and gains in capital markets activities, reported a 48% jump in profits for the fourth quarter, to $1.7 billion, handily beating Wall Street forecasts. Like several other U.S. banking companies...
Dalbar Lauds 3 Banks' Funds for Customer Service
For the first time in three years, banking companies that manage mutual funds have won Dalbar Inc. awards for service to investors. Boston-based Dalbar honored three bank-owned fund groups in its 1999 review, First Union Corp.'s Evergreen Funds,...
Expanding N.Y. Bank Renames Subsidiary
Niagara Bancorp Inc. of Lockport, N.Y., is renaming its Lockport Savings Bank subsidiary. The $1.7 billion-asset company said last week that the unit's new name, First Niagara Bank, will convey more of the regional and diversified image sought by...
Fed Opens Fast Lane for 1-Stop-Shop Applications
WASHINGTON - Requests to create financial supermarkets -- banking, brokerage, and insurance offered under one roof -- filed by Feb. 15 will get fast replies, the Federal Reserve Board said Wednesday. The central bank promised to act on the applications...
Fledgling Seeks to Soar in Automated Lending
The new chief executive officer of Competix.com said he expects to have several hundred banks using his company's automated lending service by yearend. That would be a big achievement for a company that had only two customers when William G. Fisher...
GSE's Profits Soar, but Stocks Stay Grounded
Freddie Mac and Fannie Mae are making a strong case that their business of buying and securitizing home mortgages is not as interest-sensitive as investors think. Freddie Mac on Tuesday reported a 31% gain in annual earnings, to $2.2 billion, including...
Newlyweds E-Trade, Telebanc Ended '99 with Strong Porfits
E-Trade Group Inc. and Telebanc Financial Corp. separately announced strong quarterly earnings results on Wednesday, setting the stage for healthy growth as they pursue their plan to become a one-stop shop for on-line financial services. E-Trade's...
N.Y. Council Chief Files Bill to Ban ATM Fees, Predicts Banks Will Sue
The war over automated teller machine fees added a major new front on Wednesday as New York City Council Speaker Peter F. Vallone followed through on a promise to introduce legislation that would bar financial institutions from levying noncustomer...
Rating Agencies Side with Banks on Risk Management Issue
The rating agencies have come out in favor of letting banks keep using internal risk management systems as their main tool for allocating the capital they set aside for credit exposure. The agencies are weighing in on the issue after a Bank for...
Today's News
WASHINGTON LOAN DEMAND varied in December and early this month, according to the Beige Book, but the year-2000 rollover had little effect on banks. Page 2 NATIONAL/GLOBAL AS EMERGING MARKETS continue to recover, banks are beefing up the research,...
United National in N.J. Names Gerleit President of Bank Unit
United National Bancorp in Bridgewater, N.J., has promoted Warren R. Gerleit to president and chief operating officer of its United National Bank. He succeeded Thomas C. Gregor, who remains chairman and chief executive officer of the holding company....
U.S. Bancorp's Calif. Plan Stresses Small-Bank Buys
SANTA BARBARA, Calif. - U.S. Bancorp wants to expand its California presence in a big way by gobbling up community banks. Speaking at the bank presidents convention of the California Bankers Association last weekend, U.S. Bancorp's president...