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Home > Company Index > Banking > Banking - Northeast > Sovereign Bancorp, Inc.
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Sovereign Bancorp, Inc. |
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NEWS FROM THE WIRES |
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Sovereign Bancorp reaffirms earnings guidance Aug 22 2001 01:59 PM PDT
RESEARCH ALERT-Salomon cuts mid-cap banks' ratings Jul 23 2001 09:01 AM PDT
Sovereign Bancorp Q2 earnings up 35 pct. Jul 18 2001 04:27 PM PDT
Sovereign Q2 results Jul 18 2001 04:11 PM PDT
Sovereign says to buy Main Street for $170 million Jul 17 2001 05:41 AM PDT
> More WIRE STORIES about this company
PROFILE |
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Sovereign Bancorp is expanding its realm. With the purchase of more than 280 New England branches divested from the Fleet/BankBoston merger, the company reigns from north of Boston to south of Philadelphia with some 550 branches and 1,000 ATMs. Offerings include CDs, IRAs, and money market accounts. Residential real estate and commercial loans (including commercial real estate) are each about 35% of its loan portfolio, with consumer loans about 25%. Subsidiaries offer title insurance, annuities, and operate a real estate investment trust among other services. Sovereign has announced plans to buy Reading, Pennsylvania-based Main Street Bancorp, which operates about 40 branches in the southeastern corner of the state.
COMPETITION |
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FleetBoston Financial Corporation (FBF)
Mellon Financial Corporation (MEL)
The PNC Financial Services Group, Inc. (PNC)
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STOCK ANALYSIS |
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FURTHER ANALYSIS
Advanced Charting
Deals
FINANCIAL OVERVIEW |
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Fiscal Year-End: December
2000 Sales (mil.): 2,378.30
1-Yr. Sales Growth: 36.9%
Employees: 7,761
Revenue per employee: $306,442.47
KEY PEOPLE |
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Jay S. Sidhu
CEO
Dennis S. Marlo
CFO
CONTACT INFO |
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1130 Berkshire Blvd.
Wyomissing, PA 19610
US
Phone: 610-320-8400
Fax: 610-320-8448
Online: Web Site
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Hoover's Company Capsule
Copyright © 2001, Hoover's Inc. Austin, Texas.
For changes and updates, contact Hoover's directly.
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