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. 37, March 11

Activist Investor Stilwell Pressures Two More Community Banks
Byline: Paul Davis Joseph Stilwell is at it again -- so it must be proxy season. It separate filings, the activist investor said he wants Fairmount Bancorp (FMBI) in Baltimore to find a buyer and that he plans to promote an alternate slate of...
AIG Unit Noticeably Absent from New Mortgage Insurance Lobby
Byline: Brad Finkelstein The companies behind USMI, as the new group is being called, plan to hold a press conference on Monday morning to announce its formation. "United Guaranty has declined participation in the new trade organization USMI...
Banks Pushed toward Cloud Computing by Cost Pressures
Byline: Penny Crosman U.S. banks have been hesitant to use public cloud services due to security and regulatory concerns, but shrinking profits and pressure to cut information technology spending could soon force them to change their thinking. ...
B of A Makes Long-Term Play for Young Customers
Byline: Kevin Wack More and more banks are marketing prepaid cards in a push to woo low-balance customers who have revolted against overdraft fees. Their motive is straightforward. Banks that sell prepaid cards can collect a steady stream of...
Former Senior RMBS Trader Convicted of Defrauding Tarp
Byline: Evan Nemeroff A former managing director at the New York investment banking firm Jefferies and Co., has been convicted of multiple offenses involving a scheme to defraud customers trading in residential mortgage-backed securities. Jesse...
M&T's Wilmers Defends Scrutiny of Hudson City Deal
Byline: Andy Peters Robert Wilmers, the chairman and chief executive of M&T Bank (MTB), used his annual message to shareholders to defend government scrutiny of his deal for Hudson City Bancorp, take a swipe at megabanks and sing the praises...
OCC Pushing to Simplify Big Banks
Byline: Joe Adler WASHINGTON -- Since the financial crisis, regulators have pushed megabanks to simplify their legal operations in order to make them easier to seize and dismantle if they later become troubled. But now regulators are working...
Park Sterling Finds Big Value in Small Deal
Byline: Robert Barba Small accents often follow broad strokes in the art of M&A. Park Sterling (PSTB) in Charlotte, N.C., had focused on big deals in the last few years, quadrupling its assets to $2 billion through two game-changing acquisitions....
Senators to Push Fed to Loosen Insurer Rules
Byline: Donna Borak WASHINGTON -- Lawmakers will hold their first hearing Tuesday on an issue that has largely mystified regulators: how to craft capital rules for insurance companies. It is one of the biggest unanswered questions of the post-financial...