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. 179, No. 13, January 27

Avoid Too Many Promises about M&A Deals: BancorpSouth Chief
Byline: Robert Barba The banking industry has a funny way of fixating on specific metrics. Sometimes it is the efficiency ratio, other times it is the net interest margin. The darling of bank M&A these days is how long a buyer needs to rebuild...
Bancorp Bank's T-Mobile Deal Opens Pipeline to Huge Consumer Base
Byline: Mary Wisniewski The Bancorp Bank, which provides the bank charter behind "neobank" media darlings such as Simple and Moven, added a major distribution partner to its belt this week: T-Mobile. The partnership positions the bank to acquire...
Bucking Industry Trend, First Niagara Looks to Spend
Byline: Chris Cumming First Niagara's chief executive shares at least one thing in common with his predecessor: a willingness to frustrate Wall Street by spending money. Beyond that, the similarities end. John Koelmel, ousted in April, was intent...
Discover to Start Refinancing Student Loans
Byline: Kevin Wack Discover Financial Services (DFS) plans to start offering loans that help college graduates consolidate and refinance their student debt sometime in 2014. The Riverwoods, Ill., company is the second lender in recent weeks to...
First Marblehead to Sell 73% of Private Student Loan Portfolio
Byline: Sarah Todd First Marblehead (FMD) in Boston has agreed to sell $53.9 million of private student loans to RBS Citizens Financial Group in Providence, R.I. The sale represents roughly 73% of the private student loans held by First Marblehead's...
First Niagara to Spend $200M-Plus on Technology
Byline: Chris Cumming First Niagara Financial Group (FNFG) in Buffalo, N.Y., met quarterly estimates and announced a plan to invest heavily in technological improvements as it moves beyond its recent phase of rapid growth. The $37.6 billion-asset...
Florida Businessman Sentenced for Defrauding Export-Import Bank
Byline: Sarah Todd A Florida businessman has been ordered to pay roughly $1 million and spend over a year in prison for defrauding the Export-Import Bank of the United States. Emilio Michel, 55, was the owner of Sea Star Boat Corp., a boat manufacturing...
Is More M&A the Fix for KeyCorp's Cost Problems?
KeyCorp (KEY) has largely focused on cutting expenses to improve efficiency but perhaps doing deals, as either a buyer or seller, is the way to go. Analysts in recent quarters have hammered management at the Cleveland company for its chronically...
Senators Dispute Treasury Data on Asset Manager Risks
Byline: Donna Borak WASHINGTON - A group of bipartisan senators are urging Treasury Secretary Jack Lew not to rely on a recent study as basis for labeling asset management firms as systemically risky. On Thursday, Sens. Mark Kirk, R-Ill., Thomas...
SVB Handily Beats Estimates; Share Price Soars
Byline: Antonio Olivero California-based SVB Financial Group (SIVB) announced earnings Thursday of $58.8 million for the fourth quarter of 2013, a 16.7% increase from the same quarter in 2012. Earnings of $1.27 per share crushed the estimates...
Western Sky, CashCall Reach Settlement with New York AG
Byline: Sarah Todd The online lender Western Sky and the online loan servicer CashCall agreed to pay $1.5 million in penalties and stop collecting interest on outstanding loans to New York borrowers in a proposed settlement with New York Attorney...