- Sovereign Bank
Sovereign Bank (nyse|SOV) is the 19th-largest
bank ing institution in theUnited States .History
The bank has more than $90 billion in
assets , operates more than 800retail banking offices, 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 inWyomissing, Pennsylvania , near Reading, and its principal market is in theNortheastern 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, andinsurance . There is a Sovereign Bank onFifth Avenue inNew York City .The bank has
naming rights to theSovereign Bank Arena in Trenton,New Jersey , theSovereign Center andSovereign Performing Arts Center in Reading, Pennsylvania, andSovereign Bank Stadium in York, Pennsylvania.On
1 June 2006 , Sovereign Bank purchasedIndependence Community Bank Corp. of Brooklyn, New York, for US$3.6 billion in cash. Sovereign completed the transition process of Independence andS.I. Bank & Trust customers on9 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 Hispano purchased 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 Mets pitcherRon Darling appeared in commercials for the bank.Jerry Remy , a broadcaster for NESN, the official network of theBoston Red Sox , advertised Sovereign ATM's in CVS stores in theNew England Market.Fact|date=September 2008References
External links
* [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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