American Banker articles from January 2003

American Banker archives from January 2003

Today's News.(financial institutions)(Brief Article)
January 2, 2003... WASHINGTON Quicken Loans will change procedures but pay no fine to settle charges by the FTC about its disclosure practices. Page 4 COMMUNITY BANKING IronStone Bank, a Georgia start-up, is branching to Texas and the West Coast....

Do Not Call? FTC Ban Hardly Matters in Ind.(Federal Trade Commission's rules on telemarketing)
January 2, 2003... Lori Danielson knows a lot about the hassles a state telemarketing do-not-call law can cause. As vice president and corporate marketing director of Old National Bank in Evansville, Ind., she has to deal with three such lists in the six...

Treasury: Launder Rules To Get 2d Look by June.(Dept. of Treasury on money laundering rules for financial institutions, 2003)
January 2, 2003... A task force of top Treasury Department officials is studying the effectiveness of rules implementing the USA Patriot Act and plans to recommend improvements by early June, a senior Treasury official said Tuesday. One of the likely changes...

Despite New Tech, Refi Boom Took Toll on Customer Service.(mortgage lenders)
January 2, 2003... On the surface 2002 was a win-win for home lenders and consumers. Low interest rates helped lenders set a $2.5 trillion production record. Some $1.45 trillion went to refinance mortgages, reducing homeowners' monthly payments and...

After Early Criticism, Will Rating Agencies Beat Heat?(securities rating agencies)
January 2, 2003... Anger over the rash of sudden corporate failures in the last two years has prompted sweeping reforms in investment banking, stock research, accounting, and corporate executive suites. But the sweep is not over. Ratings agencies are next in...

Quicken Agreement Settles FTC Charges.(Quicken Loans Inc.'s mortgage lending procedures, Federal Trade Commission)
January 2, 2003... Quicken Loans Inc., a mortgage lender in Livonia, Mich., will change its lending procedures to settle charges by the Federal Trade Commission that it did not tell potential borrowers when they were denied preapproval because of their credit...

Executive Changes.
January 2, 2003... MIDWEST First Midwest Bancorp Inc. of Itasca, Ill., has named Patrick J. McDonnell to its board. Mr. McDonnell retired as the director of PricewaterhouseCoopers' global audit practice in 1998. Earlier that year the old Price...

More Banks May Get Shot At S Corporation Status.
January 2, 2003... A plan that could double the number of banks and thrifts eligible to become tax-advantaged S corporations is expected to be part of an economic stimulus package Congress takes up early this year. Under existing law, only companies with 75...

Start-Up IronStone Scattering Branches Across the Southwest.(IronStone Bank)
January 2, 2003... IronStone Bank is not a typical start-up. Most new banks stay close to home, at least in the first few years. Ironstone, of Alpharetta, Ga., just opened up its second Austin branch, has branches under construction in Scottsdale, Ariz., and...

Bank One Fined $1.3 Million Over Telemarketing Tactics.
January 2, 2003... Ten months after Citigroup Inc. was fined by state attorneys general for what they said were deceptive telemarketing practices by credit card issuers, Bank One Corp. has been hit with a similar fine, and law enforcement officials said more...

Chase, Airline Offer Small Business Card.(J.P. Morgan Chase and Co. and Continental Airlines Corp. introduce cobranded credit card )(Brief Article)
January 2, 2003... The credit card division of J.P. Morgan Chase & Co. and Continental Airlines have introduced a cobranded card for owners of small and midsize businesses, which awards frequent flier miles. The Continental Business Credit Card from Chase...

Prudential Strength Ratings Affirmed.
January 2, 2003... A.M. Best Co. has affirmed the financial strength rating of A and maintained a positive outlook for Prudential Insurance Co. of America and its wholly owned subsidiaries in the wake of its deal last month to buy American Skandia Life Assurance...

Mining Client Relationship Requires Attention to Data.
January 2, 2003... Ask a senior retail banking executive at a top 20 U.S. bank how he or she plans to increase revenue in the next 12 to 18 months, and you are likely to get a consistent answer: Keep the customers I have and sell them more. Ask how they plan...

For Wider Distribution In Banks, Merrill Unit To Offer Fund Family.(Merrill Lynch and Company Inc. offers retail mutual fund products)(Brief Article)
January 2, 2003... In an effort to expand distribution through banks and other financial institutions, Merrill Lynch Investment Managers announced it will offer a family of retail mutual funds to third party-distributors. To create the family, the unit of...

B of A Analyst Says REITs Attractive.
January 2, 2003... We are not authorized to publish this article provided by Dow Jones. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

In Brief: Web Trader ID Effort Kicking Off in Italy.(Brief Article)
January 2, 2003... A project in Italy in which a group of banks will share a single system for their corporate customers to identify trading partners could provide a new model for online identity, says the head of Identrus LLC, the bank-owned PKI consortium. ...

In Brief: Huntington-Answer Insurance Pairing.(Huntington National Bank)(Brief Article)
January 2, 2003... Huntington National Bank has struck a deal with Answer Financial Inc. to provide auto and homeowner's insurance to its customers online and on the phone. Under the agreement, announced by Huntington last week, visitors to the bank's Web...

In Brief: TeaLeaf Relief for Bank One Web Team.(TeaLeaf Technology Inc.)(Brief Article)
January 2, 2003... Bank One Corp. says that software from TeaLeaf Technology Inc. of San Francisco has helped it solve some nagging Web-application problems by replaying online sessions from the user's point of view. Bank One wanted a new diagnostic tool when...

In Brief: Northern Trust Adds Flexibility.(online treasury management system )(Brief Article)
January 2, 2003... An addition to Northern Trust Corp.'s online treasury management system gives corporate clients more flexibility in administering user access. The feature lets corporate administrators set up a profile with a certain set of permissions;...

In Brief: Cendant Mortgage Re-Ups with Alltel.(ALLTEL Information Services Inc. contract)(Brief Article)
January 2, 2003... Alltel Information Services Inc. announced that Cendant Mortgage has renewed a contract to use Mortgage Servicing Package to service its portfolio of more than 750,000 loans. The financial software maker said the Cendant Corp. subsidiary, a...

Clarification.
January 2, 2003... A page 1 headline in the Dec. 26 issue did not accurately reflect the story about the FDIC's attempts to sell some of the failed NextBank's credit card assets. No one in the story said the agency had made a "blunder," though bondholders have...

Banks Beat Expectations As Well as Market in '02.
January 2, 2003... Closing up 2% on 2002's last trading day, the American Banker index of 225 banks outperformed the broader market for the third consecutive year. Last January many were saying 2002 would be a good campaign for bank stocks, though few said...

In Brief: Western Sierra Hires Cal Fed Tech Exec.(Kelly Briggs)(Brief Article)
January 2, 2003... Western Sierra Bancorp said Tuesday that it had named a new chief information officer, Kelly Briggs, who was most recently the retail information reporting manager at California Federal Bank. Ms. Briggs, whose rank will be vice president,...

In Brief: Investment Bank Underwriting Fees Off 22%.(Brief Article)
January 2, 2003... We are not authorized to publish this article provided by Dow Jones. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

In Brief: HSBC Units Offer Web Banking in China.(Brief Article)
January 2, 2003... We are not authorized to publish this article provided by Dow Jones. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

In Brief: B of A Group to Sell Stake in Iron Ore Giant.(Brief Article)
January 2, 2003... We are not authorized to publish this article provided by Bloomberg News. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

In Brief: Classic Entering Ohio with 1st Federal Deal.(Classic Bancshares Inc. acquires First Federal Financial Bancorp Inc.)(Brief Article)
January 2, 2003... Classic Bancshares Inc. plans to move into Ohio with the acquisition of $69 million-asset First Federal Financial Bancorp Inc. in Ironton. Classic, with $233 million of assets and eight branches in Kentucky, said it would pay the $11.5...

Citi Buying into Chinese Bank.
January 2, 2003... We are not authorized to publish this article provided by Bloomberg News. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

150 Community Banks* with Largest Card Loan Portfolios.
January 2, 2003... As of June 30, 2002. Dollars in thousands. (part 1 of 2) 1 Bankfirst Sioux Falls, S.D. 2 GE Capital Consumer Card Co. Mason, Ohio 3 First Premier Bank Sioux Falls, S.D. 4 Merrick Bank South Jordan, Utah...

Alaska Native Counters Wells with Own Advisory.(Northrim BanCorp Inc. has posted double-digit gains)
January 3, 2003... Northrim BanCorp Inc. has posted double-digit gains in loans and deposits by the last several years by playing up its local roots, particularly after Wells Fargo & Co. bought National Bank of Alaska in 2000. Now the $708 million-asset...

JPM Chase: Insurance Settlement Is a Victory.(J.P. Morgan Chase & Co.)
January 3, 2003... J.P. Morgan Chase & Co. announced $1.3 billion of fourth-quarter charges Thursday but declared victory in its dispute with 11 insurance companies over the payment of $1 billion in surety bonds. Just days ago the banking company seemed to be...

Will ID Case Tax Image of H&R Block?(Identity theft by former officer)
January 3, 2003... H&R Block Inc., which just two months ago settled a class-action lawsuit over its tax-refund-anticipation loan business, on Thursday found itself with another image headache after the arrest of a former office manager in connection with an...

Today's News.(Privacy protection)(Brief Article)
January 3, 2003... WASHINGTON Privacy hawks in California are readying a ballot initiative that would force banks to change the way they use customer information. Page 3 The OCC warned national banks that some buy-sell agreements could block S...

PEOPLE.(Don Layton)(J.P. Morgan Chase)
January 3, 2003... Cleverness on Trial Don Layton, the head of J.P. Morgan Chase's consumer bank, apparently was busier than anyone thought he was in the late 1990s. Back then he headed trading operations in the wholesale bank unit and had to keep some of...

In Brief: Buy-Sell Setups May Nullify S Corporations.(Office of the Comptroller of the Currency warned)(Brief Article)
January 3, 2003... The Office of the Comptroller of the Currency warned Thursday that some buy-sell agreements with directors could prevent national banks from qualifying for status as tax-advantaged S corporations or invalidate such status. In an advisory...

In Brief: RMA Hires Executive in Charge of Op-Risk.(Risk Management Association)(Brief Article)
January 3, 2003... RMA-the Risk Management Association, a trade association of lenders, announced Thursday that it had hired Charles R. Taylor to be its director for operational risk. Mr. Taylor, most recently a managing director of Depository Trust and...

Calif. Group Steps Up Push For Referendum on Privacy.(AARP)(Consumers Union)(Public Interest Research Group)(American Civil Liberties Union)(Consumer Federation of California)(Foundation for Taxpayer and Consumer Rights)(Privacy Rights Clearinghouse)
January 3, 2003... Privacy hawks in California are readying a fund-raising campaign for a ballot initiative that would force banks to change the way they use customer information. "It's going to take a concerted effort to raise funds because the financial...

An OK, Finally, for Northwest-Leeds.(Northwest Bancorp Inc.)(Leeds Federal Bancshares Inc.)
January 3, 2003... After nearly a year and a half of waiting, Northwest Bancorp Inc. of Warren, Pa., has won regulatory approval to enter the Baltimore market by buying Leeds Federal Bancshares Inc. there. Both are mutual holding companies, and the rare deal...

TCF Adopts SpongeBob in Bid To Bring in Business from Kids.
January 3, 2003... Trying to enroll more children as customers, TCF Financial Corp. of Wayzata, Minn., went straight to Bikini Bottom in the Ocean. That, of course, is the home of SpongeBob Square Pants, the popular cartoon character who is now pulling double...

In Brief: Jack Henry Buys Item Processor.(Jack Henry & Associates Inc.)(National Bancorp Data Services L.L.C.)(Brief Article)
January 3, 2003... Jack Henry & Associates Inc., which provides computer systems for financial institutions and processes automated teller machine and debit card transactions for them, said Thursday that it had purchased National Bancorp Data Services LLC, an...

In Brief: Egg Hires Top Citi French Exec.(Brief Article)
January 3, 2003... We are not authorized to publish this article provided by Bloomberg News. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

Risk Guarantees Will Convert Automated Evaluation Skeptics.(automated valuation model)
January 3, 2003... The automated valuation model was first introduced to academia in 1977 at the University of Tennessee by two young neophytes: Joseph Albert and me. An academic toy? Perhaps. At the time it certainly was not accepted as a useful or...

Banks' Insurance Income Up But Investment Business Ebbs.
January 3, 2003... Bank insurance fee income rose substantially in the first three quarters of 2002 while bank investment fee income fell. Of 8,432 commercial and federally insured savings banks, 4,198 were in insurance as of Sept. 30. Bank insurance fee...

Remembering When the Farm Credit System Worked.
January 3, 2003... To the Editor: I was disturbed by John Blanchfield's Viewpoints article, "Farm Credit System Loans Going to Wrong People" (page 7, Dec. 27). I grew up in rural Pennsylvania, where the hills and valleys were dotted with small dairy and...

Expect Big Changes on ATM Landscape.(Open Solutions moves ahead for ATMs)
January 3, 2003... Here are some predictions for 2003: Open Solutions moves ahead for ATMs. Open Solutions -- proprietary hardware, software, and service bundled for ATMs -- will really take hold. This will be the year the Open Solutions model finally has...

Teach Employees to Keep Promises Your Bank Makes.(KPMG reported customer loyalty in financial services industry continues to deteriorate)
January 3, 2003... This month KPMG reported that customer loyalty in the financial services industry continues to deteriorate. Most consumers maintain ties to their financial institutions out of apathy or inertia. All of which is nothing new to bankers....

In Brief: Hancock Hires, Consolidates.(John Hancock Financial Services Inc.)(Brief Article)
January 3, 2003... John Hancock Financial Services Inc. announced Thursday that it has consolidated its insurance and annuity sales, marketing, and distribution under a newly hired executive and broadened its retail chief's responsibility for individual and group...

In Brief: St. Paul Unit Keeps 'A' Rating.(Brief Article)
January 3, 2003... A.M. Best Co. has affirmed the 'A' financial strength rating of St. Paul International Insurance Co. Ltd. in London. The rating reflects the company's status as a core subsidiary of its ultimate parent, St. Paul Cos. Inc. in Minnesota; its...

Va. Bankers Group Makes SBLI of Mass. Sales Deal.(Savings Bank Life Insurance Co.)
January 3, 2003... The Virginia Bankers Association, which already offers a range of insurance products through its network of agencies, has agreed to sell life insurance from the Savings Bank Life Insurance Co. of Massachusetts through its member banks. ...

Bad Equity-Fund Year Spurred Innovations.(college finance programs)
January 3, 2003... As equity markets crumbled during much of 2002, some banking companies built a foundation of innovative investment products and services in anticipation of a year for which analysts and bankers have high hopes. Banks launched 529 college...

In Brief: Apps Pick Up as Rates Keep Falling.(Brief Article)
January 3, 2003... We are not authorized to publish this article provided by Bloomberg News. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

In Brief: More Tax Relief for Senior Home Sellers.(Brief Article)
January 3, 2003... The Internal Revenue Service modified a 1997 tax law governing exemption from taxation of gains from home sales by senior citizens. Previously, seniors could claim a once-in-a-lifetime exclusion of up to $250,000 when they sold their...

In Brief: HomeStreet Signs Calif. Correspondent.(Brief Article)
January 3, 2003... The multifamily lender HomeStreet Capital has named Barry B. Slatt Mortgage Co. a correspondent. Slatt is based in Burlingame, near the San Francisco International Airport, and has offices in Sacramento and Los Angeles. Under the...

In Brief: Apartment REITs' Value Way Down.(Brief Article)
January 3, 2003... Share prices of apartment real estate investment trusts plunged last year as a hot market for single-family homes coaxed tenants into homeownership, according to research findings from SNL Financial released Thursday. Even with an average...

In Brief: 2 Execs Promoted At Old Republic.(Brief Article)
January 3, 2003... Old Republic Title Insurance Group, a unit of the Chicago multiline insurer Old Republic International Corp., has promoted two of its officers. Stephen Wilson, the Boston-based president of its eastern title group, was given the additional...

In Brief: Boeing CU Introduces 7 Systems at Once.(Boeing Employees Credit Union)(Brief Article)
January 3, 2003... Butch Leonardson is not afraid to make big bets on technology. "Some credit unions would gag at the idea of going live with seven new systems at the same time," said Mr. Leonardson, the vice president of information technology at the $4...

In Brief: Software Firm Network-1 Looks for Buyer.(Brief Article)
January 3, 2003... Network-1 Security Solutions Inc., a security software company, on Thursday announced budget cuts aimed at making its cash last through the year. The company said it is seeking a buyer, will discontinue or sell its CyberwallPlus product...

In Brief: BearingPoint Works on IT for Afghanistan.(Information technology)(Brief Article)
January 3, 2003... BearingPoint Inc., formerly KPMG Consulting Inc., said Thursday that it had helped Afghanistan install and operate a financial management information system. The job was part of a $3.95 million contract to help the government upgrade its...

FAQs Lighten Service Load At Ind.'s First Internet Bank.(frequently-asked-questions)
January 3, 2003... When consumers first started using the World Wide Web in big numbers, most Web sites featured frequently-asked-questions areas as tools to inform and reassure. FAQ pages are less of a staple than they were in the mid-1990s but are still...

Tallying the Winners, and Losers, in 2002.(Wachovia Corp.)
January 3, 2003... Wachovia Corp.'s stock rose 16.2% in 2002, topping a short list of big banks that recorded healthy gains in a year when shares of the top 50 banks as a group, and the broader market, declined. Other big winners last year included Regions...

Panel Offers 'Regulatory Gap' Plan.(Senate sets timetable for regulators)
January 3, 2003... A key Senate panel on Thursday set out a timetable for bank and securities regulators to step up their scrutiny of complex structured finance products. The permanent subcommittee on investigations called on the Federal Reserve Board,...

In Brief: Payday Lender Settles Fla., Ohio Disputes.(Brief Article)
January 3, 2003... Ace Cash Express Inc. said it had settled all its regulatory disputes with Florida and Ohio, with the result that it will follow those states' laws when making payday loans there. Ace reached a similar settlement with Colorado authorities...

In Brief: Concord EFS Adds 2 Outside Directors.(Brief Article)
January 3, 2003... Concord EFS Inc. announced Thursday the election of two outside members to its board and the resignation from it of Ronald V. Congemi, a senior vice president and its president of network services. Concord, which owns Star Systems, the...

U.S. Banking Companies with Highest Multiples of Net to Salary, Benefits.
January 3, 2003... In the second quarter of 2002. Dollars in thousands. (part 1 of 2) 1 Dairyland Bank Holding Corp. La Crosse, Wis. 2 F.B.H. Corp. Fayette, Ala. 3 Germantown Banc Corp. Ill. 4 Amboy Bancorp. Old Bridge,...

Vendor Bender: Accounting Issues and Bank Response.(banks deciding how to respond to problems at Carreker Corp., a vendor/consultant)
January 6, 2003... After last year, most commercial lenders had been through at least one case where a customer thought to be on solid ground suddenly looked questionable. But what if the relationship were turned around, and the company facing difficulties...

Margin Pressures Could Have Large Banks Pining for '02.(margins expected to have narrowed for top 20 banks at end-2002, which may work against banks in 2003)
January 6, 2003... When executives at the largest U.S. banks closed the books on 2002, they bade farewell to a year of client bankruptcies, economic instability abroad, accounting and regulatory investigations at home, and a moribund stock market. Still,...

Small Banks No Fans of Kovacevich Opt-In Idea.(Richard M. Kobacevich's proposal to prohibit banks from sharing customer data with third parties without customer approval)
January 6, 2003... A fissure opened last week in the united front of financial companies that has fended off new privacy laws. That is bad timing for an industry preparing for a Capitol Hill showdown over privacy issues. Most bankers and other financial...

Apartments Go from Haven To Hazard.(lending for multifamily new construction during a period of low interest rates on home mortgages)
January 6, 2003... In a shaky economy, it is not surprising to hear real estate bankers say they are underwriting more cautiously. What is surprising is which subset of the commercial property market they are growing cautious about. "We more highly...

Credit Quality Hangover Expected to Linger in '03.(for banking industry)
January 6, 2003... Last year was supposed to be the year that credit quality rebounded. It did not, and the outlook for 2003 is not much brighter. "My crystal ball is perpetually foggy, but given the forecast for rather lackluster economic growth, we'll...

Executive Changes.(includes multiple assignments and promotions)
January 6, 2003... MIDWEST National City Corp. of Cleveland has promoted Rick A. Smalldon, an executive vice president, to president and chief operating officer of its Miamisburg, Ohio, subsidiary National City Mortgage Co. He led Nat City's residential...

Delinquencies Hurt Mich.'s North Bancorp.(most of 4th-quarter profit wiped out)(Brief Article)
January 6, 2003... North Bancorp Inc. is adding $1.8 million to its loss reserves to account for a surge in delinquent consumer loans. The $218 million-asset holding company for First National Bank of Gaylord said the provision would result in a...

WASHINGTON PEOPLE.(includes multiple records)
January 6, 2003... A Seat for N.C. Sen. Elizabeth Dole, R-N.C., announced last week that she had been selected to serve on the Senate Banking Committee. The big banking state has not had a representative on the panel since Democratic Sen. John Edwards traded...

Portfolio Deals at Highest Level Since Mid-1980s.(R.K. Hammer Investment Bankers' survey on credit card portfolio sales in 2002)
January 6, 2003... The market for credit card portfolio sales gained substantial steam last year, according to one tracking firm. More big deals were signed than in any year since 1986, it said. The annual survey by R.K. Hammer Investment Bankers found deals...

In Brief: Harris to Distribute State St. 529's.(Brief Article)
January 6, 2003... State Street Corp.'s college savings unit has announced an agreement with Harris Bank's wealth management group for the Chicago-based bank to distribute Schoolhouse Capital's 529 college savings program. Harrisdirect is to offer...

In Brief: REITs' Positive Yields Beat S&P 500.(financial performance of real estate investment trusts outperforms S&P 500 companies in 2002)(Brief Article)
January 6, 2003... Real estate investment trusts outperformed the S&P 500 by a wide margin in 2002, according to SNL Financial's annual study on the real estate investment business. Equity REITs returned 4.0% and retail REITs 21.1%, according to the study,...

In Brief: Nationwide Variable Annuity Strategy.(Nationwide Financial )(Brief Article)
January 6, 2003... Nationwide Financial is adopting a variable annuity strategy this month that includes a group of customized products and tools that enable registered representatives to choose subaccounts for their clients. The tools are Web-based and are...

In Brief: NYSE to Start Exchange-Traded Fund.(Brief Article)
January 6, 2003... The New York Stock Exchange has announced that it will revise its composite index this week to create an exchange-traded fund. The fund would be the exchange's first, it said on Thursday. Fifteen exchange-traded funds are traded intraday...

In Brief: State St. Closes Corporate Trust Sale.(State Street Corp.)(Brief Article)
January 6, 2003... State Street Corp. has announced completion of the sale of its corporate trust business to U.S. Bancorp. The after-tax gain on the sale was $296 million, State Street said last Tuesday. It said it will put the proceeds toward its planned...

Small Banks Seen Missing Fee-Income Boat.(by not selling insurance)
January 6, 2003... Big banks are more likely than small ones to sell insurance, and they earn the lion's share of fee income -- meaning that most community banks are missing out on a lucrative opportunity, according to a bank-insurance consulting firm. ...

Earnings in 4Q Likely Beat Weak '01, But Not by Much.(banking companies)
January 6, 2003... Analysts and investors say they do not expect many positive surprises in banking companies' fourth-quarter earnings reports, nor much momentum carrying into the first quarter. Frank J. Barkocy, the director of research at Keefe Managers...

In Brief: Moody's Downgrades GE Capital Bonds.(GE Capital Mortgage Services Inc.)(Brief Article)
January 6, 2003... Moody's Investors Service Friday downgraded $70 million of mezzanine and subordinated bonds issued by GE Capital Mortgage Services Inc. from 1996 through 1999. The 20 different classes of affected bonds are from securitizations of seasoned...

In Brief: Orix Makes Another Offer to Criimi Mae.(Brief Article)
January 6, 2003... We are not authorized to publish this article provided by Bloomberg News. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

Citi Set to Buy More of Chinese Bank.
January 6, 2003... We are not authorized to publish this article provided by Dow Jones. Copyright 2003 Thomson Media. All Rights Reserved. http://www.americanbanker.com

Big Doubts that Banks Can Keep Beating Market.(Industry Overview)
January 6, 2003... Shares of banking companies are not expected to fall dramatically this year, but many analysts and investors say they are unlikely to outperform the market -- as they have for three years. Money-centers and superregionals are thought to...