| | Business Summary | | Sovereign
Bancorp,
Inc.
is
the
holding
company
for
Sovereign
Bank.
Sovereign's
business
consists
primarily
of
attracting
deposits
from
its
network
of
community
banking
offices,
and
originating
small
business
and
middle-market
commercial
and
asset-based
loans,
consumer
and
residential
mortgage
loans
and
home
equity
lines
of
credit
in
eastern
Pennsylvania,
New
Jersey,
Delaware
and
New
England.
As
of
December
31,
2000,
Sovereign
had
consolidated
assets
of
$33.5
billion,
deposits
of
$24.5
billion
and
stockholders'
equity
of
$1.9
billion.
Sovereign
has
completed
25
acquisitions
with
assets
totaling
approximately
$25.7
billion
through
December
31,
2000. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Sovereign
Bancorp
is
a
holding
company
for
Sovereign
Bank
which
operates
in
eastern
PA,
NJ,
DE
and
New
England.
For
the
six
months
ended
6/30/01,
interest
income
rose
11%
to
$1.14
billion.
Net
interest
income
after
loan
loss
prov.
rose
41%
to
$462.7
million.
Net
income
before
extraordinary
item
totaled
$41.2
million
vs.
a
loss
of
$21.8
million.
Net
interest
income
reflects
internal
loan
growth,
and
lower
borrowing
costs.
Net
income
benefits
from
the
first
full
quarter
including
SBNE. | | More
from
Market Guide: Significant
Developments |
| | Officers | | | FY2000 Pay | |
| Richard Mohn, 69
Chairman | -- | Jay Sidhu, 49
Pres
and CEO | $650K | James Hogan
CFO | -- | Joseph Campanelli, 44
Pres
and COO of Sovereign Bank's Commercial and Bus. Banking Division | 311K | John Hamill, 60
Chairman
and CEO of SBNE | 300K | | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/s/sov.gif)