- Sovereign Bank
Sovereign Bank (nyse|SOV) is the 19th-largest
banking institution in the United States.
The bank has more than $90 billion in
assets, operates more than 800 retail bankingoffices, over 2,000 ATMs, and employs approximately 12,000 people. [http://www.sovereignbank.com/companyinfo/company_information/our_history/company_history.asp] The company is based in Wyomissing, Pennsylvania, near Reading, and its principal market is in the Northeastern United States. Sovereign offers an array of financial services and products including retail banking, mortgages, corporate banking, cash management, capital markets, trust and wealth management, and insurance. There is a Sovereign Bank on Fifth Avenuein New York City.
The bank has
naming rightsto the Sovereign Bank Arenain Trenton, New Jersey, the Sovereign Centerand Sovereign Performing Arts Centerin Reading, Pennsylvania, and Sovereign Bank Stadiumin York, Pennsylvania.
1 June 2006, Sovereign Bank purchased Independence Community BankCorp. of Brooklyn, New York, for US$3.6 billion in cash. Sovereign completed the transition process of Independence and S.I. Bank & Trustcustomers on 9 September 2006. Sovereign financed this merger by selling a 20% stake in the bank to Spain's Banco Santander Central Hispano. [http://www.myindependence.com/IntegrationCalendar/]
In June 2006,
Banco Santander Central Hispanopurchased almost 20% of Sovereign Bank for US$2.4 billion. As Banco Santander owns 25% of Sovereign, it has the right to buy the bank for $40 per share for one year beginning in the middle of 2008. [http://www.ydr.com/yorkbaseball]
In 2008, former
New York Metspitcher Ron Darlingappeared in commercials for the bank. Jerry Remy, a broadcaster for NESN, the official network of the Boston Red Sox, advertised Sovereign ATM's in CVS stores in the New EnglandMarket.Fact|date=September 2008
* [http://www.sovereignbank.com Official website]
* [http://www.sovereignbank.com/atm_locator ATM/Branch Locator]
* [http://www.sovereigncenter.com Sovereign Center]
* [http://www.sovereigncenter.com/events/showevents.php?field=location&wat=5 Sovereign Performing Arts Center]
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