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  September 5, 2001
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Home > Company Index > Banking > Banking - Northeast > Sovereign Bancorp, Inc.

Sovereign Bancorp, Inc.
Nasdaq: SOV
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 NEWS FROM THE WIRES
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
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
FleetBoston Financial Corporation (FBF)
Mellon Financial Corporation (MEL)
The PNC Financial Services Group, Inc. (PNC)

 STOCK ANALYSIS
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FURTHER ANALYSIS
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 FINANCIAL OVERVIEW
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
• Jay S. Sidhu
    CEO
• Dennis S. Marlo
    CFO

 CONTACT INFO
1130 Berkshire Blvd.
Wyomissing, PA 19610
US
Phone: 610-320-8400
Fax: 610-320-8448
Online: Web Site

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