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Encyclopedia > Sovereign Bank

Sovereign Bank NYSE: SOV, currently the 18th largest banking institution in the United States [1], has more than $63 billion in assets [2] and operates more than 650 retail banking offices [3], over 1,000 ATMs [4], and employes approximately 10,000 people [5]. The company is based in Reading, PA, 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. Image File history File links SovereignBankII.PNG‎ Sovereign Bank This is a logo of an organization, item, or event, and is protected by copyright and/or trademark. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... In business and accounting an asset is anything owned, whether in possession or by right to take possession, by a person or a group acting together, e. ... It has been suggested that this article or section be merged with Banking. ... An NCR interior, multi-function ATM in the USA Smaller indoor ATMs dispense money inside convenience stores and other busy areas, such as this off-premise Wincor Nixdorf mono-function ATM in Sweden An on-premise NCR interior, multi-function through-the-wall ATM at a CIBC branch in Canada... Regional definitions vary The Northeastern United States is a region of the United States defined by the U.S. Census Bureau. ... Introduction A mortgage is a device used to create a lien on real estate by contract. ... In United States banking, cash management, or treasury management is a marketing term for certain services offered primarily to larger business customers. ... The capital market is the market for long-term loans and equity capital. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of catastrophic financial loss. ...


The bank has naming rights to the Sovereign Bank Arena in Trenton, New Jersey, the Sovereign Center in Reading, Pennsylvania, Sovereign Bank Stadium in York, Pennsylvania, as well as the Sovereign Performing Arts Center, also located in Reading, PA. Naming rights are the right to name a piece of property, either tangible property or an event, usually granted in exchange for financial considerations. ... The Sovereign Bank Arena is an 8,500 seat capacity arena in Trenton, New Jersey, that is home to the Trenton Titans and host numerous events every year. ... Nickname: Trent Location of Trenton inside of Mercer County Coordinates: Country United States State New Jersey County Mercer County Founded circa 1719 Mayor Douglas H. Palmer Area    - City 21. ... The Sovereign Center is a 7,083-seat multi-purpose arena in Reading, Pennsylvania. ... Location in Pennsylvania Coordinates: Country United States State Pennsylvania County Berks County Founded 1748 Mayor Thomas McMahon Area    - City 26. ... Sovereign Bank Stadium will be a 5,200-seat baseball-only stadium in York, Pennsylvania that will open in 2007. ... Nickname: The White Rose City Coordinates: Country United States State Pennsylvania County York Incorporated Borough September 24, 1787 City January 11, 1887 Mayor John Brenner Area    - City 13. ...


On June 1 2006, Sovereign Bank purchased Independence Community Bank Corp. of Brooklyn, New York, for US$3.6 billion in cash. Sovereign plans to have its transition process of Independence and S.I. Bank & Trust customers complete by September 9, 2006. Sovereign financed this merger by selling a 20% stake in the bank to Spain's Banco Santander Central Hispano [6] For other meanings, see Brooklyn (disambiguation). ... The United States dollar is the official currency of the United States. ...


In June 2006, the Banco Santander Central Hispano purchased almost 20% of Sovereign Bank in June for $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.[7] Banco Santander Central Hispano is the largest bank in Spain and is part of the Santander Group which has large scale operations in the continents of Europe and South America. ...


Future

On October 10, 2006, CEO Jay S. Sidhu resigned. The resignation could speed up the sale of Sovereign, likely to its largest shareholder, Banco Santander Central Hispano. Banco Santander Central Hispano is the largest bank in Spain and is part of the Santander Group which has large scale operations in the continents of Europe and South America. ...


External links

Commercial banks in the United States
Bank of America | Bank of the West | BB&T | Capital One Bank | Charter One Bank | Chase | Citibank | Citizens Bank (Rhode Island) | Citizens Bank (Michigan) | Comerica | Commerce Bank | Compass Bank | Fifth Third Bank | First Tennessee Bank | Harris Bank | HSBC | Huntington National Bank | Key Bank | LaSalle Bank | M&T Bank | Marshall & Ilsley | National City | North Fork Bank | PNC Bank | RBC Centura | Regions Bank | Sovereign Bank | SunTrust Bank | TCF Bank | TD Banknorth | Union Bank of California | U.S. Bank | Wachovia | Washington Mutual | Wells Fargo | Zions Bancorp
Philadelphia-based Corporations
(Within the Delaware Valley)
Philadelphia-based Fortune 500 Corporations (by size):
Sunoco | Comcast | CIGNA | Aramark | Rohm and Haas Company | Crown Holdings Incorporated | Lincoln National Corporation
Philadelphia-based Fortune 1000 Corporations (by size):

Companies listed above, plus Sovereign Bancorp | Pep Boys | FMC Corporation This Banking in the United States does not cite its references or sources. ... Image File history File links Flag_of_the_United_States. ... This article or section may be confusing or unclear for some readers, and should be edited to rectify this. ... The BB&T Corporation NYSE: BBT is one of Americas ten largest banks. ... Capital One Financial Corp. ... Charter One was a Cleveland-based bank that was acquired in 2004 by Citizens Financial Group. ... JPMorgan Chase & Co. ... Citibank was founded in 1812 as the City Bank of New York. ... Citizens Financial Group, Inc. ... Citizens Banking Corp. ... Comerica Incorporated NYSE: CMA is a financial services company headquartered in Detroit. ... Commerce Bancorp is a Cherry Hill, New Jersey based bank holding company that offers banking, insurance, brokerage, and investment banking services in New Jersey, Pennsylvania, New York, Delaware, and Connecticut. ... Compass Bancshares NASDAQ: CBSS is a publicly held company based in Birmingham, Alabama. ... Fifth Third Bank (5/3 Bank) is a U.S. regional banking corporation, headquartered in Cincinnati, Ohio. ... First Tennessee (NYSE: FHN) is a financial services company based in Memphis, Tennessee. ... Harris Bank was founded by Norman Wait Harris. ... HSBC Holdings PLC (NYSE: HBC), (LSE: HSBA), (HKSE: 005), (Euronext: HSBC), is one of the largest banking groups in the world. ... Huntington National Bank is a U.S. regional banking corporation headquartered in Columbus, Ohio. ... Key Bank is a bank headquartered in the Key Tower in Cleveland, Ohio. ... LaSalle Bank is a US banking group that is a part of LaSalle Bank Corporation. ... M&T Bank is an American bank. ... Marshall & Ilsley Corporation is a Fortune 500 company based in Milwaukee, Wisconsin, and founded in 1847. ... National City Corporation NYSE: NCC, based in Cleveland, Ohio, is one of the ten largest banks in America in terms of deposits. ... North Fork Bank is an American bank headquartered in Melville, New York. ... PNC Bank is the flagship subsidiary of PNC Financial Services. ... The Royal Bank of Canada (TSX: RY, NYSE: RY) is Canadas largest chartered bank. ... Regions Financial Corporation NYSE: RF is a publicly held company based in Birmingham, Alabama. ... SunTrust Headquarters at SunTrust Plaza in Atlanta, GA. SunTrust Banks, Inc. ... It has been suggested that this article or section be merged into TCF Financial Corporation. ... TD Banknorth is a banking and insurance company serving primarily the northeastern area of the United States, with headquarters in Portland, Maine. ... Union Bank of California is one of the 25 largest commercial banks in the United States. ... U.S. Bancorp (NYSE: USB) is a financial services holding company, headquartered in Minneapolis, Minnesota. ... Wachovia Corporation NYSE: WB, based in Charlotte, North Carolina is one of the largest banking chains in the United States. ... The Washington Mutual Tower in Seattle, Washington A Washington Mutual Financial Center in San Jose, California Washington Mutual (or WaMu; NYSE: WM) is one of United Statess leading consumer and small business banks. ... A typical Wells Fargo branch, located in Berkeley, California Norwest redirects here. ... Nickname: City of Brotherly Love, Philly, the City That Loves You Back, the Quaker City, The Birthplace of America Motto: Philadelphia maneto - Let brotherly love continue Location in Pennsylvania Coordinates: Country United States State Pennsylvania County Philadelphia Founded October 27, 1682 Incorporated October 25, 1701 Mayor John F. Street (D... The Delaware Valley, also known as the Philadelphia-Camden-Vineland, PA-NJ-DE-MD Metropolitan Combined Statistical Area, is named for the Delaware River which flows through the region. ... Nickname: City of Brotherly Love, Philly, the City That Loves You Back, the Quaker City, The Birthplace of America Motto: Philadelphia maneto - Let brotherly love continue Location in Pennsylvania Coordinates: Country United States State Pennsylvania County Philadelphia Founded October 27, 1682 Incorporated October 25, 1701 Mayor John F. Street (D... The Fortune 500 is a ranking of the top 500 United States corporations as measured by gross revenue. ... Sunoco NYSE: SUN is an American petroleum and petrochemical manufacturer headquartered in Philadelphia, Pennsylvania, formerly known as Sun Company Inc. ... This article does not cite its references or sources. ... CIGNA (NYSE: CI) is a Philadelphia-based insurance company, the oldest stock insurance company in the United States. ... Aramark Corporation (NYSE: RMK) is a professional services organization, providing food services, facilities management, hospitality services, and uniforms and career apparel to health care institutions, universities and school districts, stadiums and arenas, businesses, prisons, senior living facilities, parks and resorts, correctional institutions, conference centers, convention centers, and public safety professionals... Rohm and Haas Co (NYSE: ROH), Philadelphia, Pennsylvania based company, manufactures miscellaneous materials. ... Crown Holdings Incorporated, founded in 1892 by William Painter, is a Fortune 500 company based in the United States of America. ... Lincoln National Corporation is a holding company, which operates multiple insurance and investment management businesses through subsidiary companies. ... Nickname: City of Brotherly Love, Philly, the City That Loves You Back, the Quaker City, The Birthplace of America Motto: Philadelphia maneto - Let brotherly love continue Location in Pennsylvania Coordinates: Country United States State Pennsylvania County Philadelphia Founded October 27, 1682 Incorporated October 25, 1701 Mayor John F. Street (D... Fortune 1000 is a reference to a list maintained by the American business magazine Fortune. ... The Pep Boys – Manny, Moe & Jack (NYSE: PBY) is the nation’s leading full-service automotive aftermarket chain. ... FMC Corporation is a chemical manufacturing company headquartered in Philadelphia, Pennsylvania. ...

Delaware Valley-based Fortune 1000 Corporations (by size):

Companies listed above, plus AmerisourceBergen | DuPont Company | Campbell Soup | Toll Brothers | Unisys | Jones Apparel Group | UGI Corporation | Ikon Office Solutions | Universal Health Services | SunGard Data Systems | Teleflex | Airgas | Vishay Intertechnology | Charming Shoppes | Commerce Bancorp | Hercules Inc. | Genesis HealthCare | Ametek The Delaware Valley, also known as the Philadelphia-Camden-Vineland, PA-NJ-DE-MD Metropolitan Combined Statistical Area, is named for the Delaware River which flows through the region. ... Fortune 1000 is a reference to a list maintained by the American business magazine Fortune. ... AmerisourceBergen NYSE: ABC is a Chesterbrook, PA based biotechnology company. ... This article is about the DuPont company. ... Campbell Soup Company NYSE: CPB (also known as Campbells) is undeniably the most well-known producer of canned soups and related products in the United States (and possibly the world). ... Toll Brothers is a Horsham, PA based company and the largest builder of luxury homes and luxury communities in the United States. ... Unisys Corporation (NYSE: UIS), based in Blue Bell, Pennsylvania, United States, and incorporated in Delaware[2], is a global provider of information technology services and solutions. ... Jones Apparel Group, Inc. ... UGI Corporation NYSE: UGI is a public utility holding company with a variety of assets based in King of Prussia, Pennsylvania. ... IKON Office Solutions is a Fortune 500 company based in Malvern, Pennsylvania. ... Universal Health Services, Inc. ... SunGard Data Systems provides financial services and information availability services to businesses. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Airgas Logo Airgas, Inc. ... Charming Shoppes (NASDAQ: CHRS) is a specialty and plus size clothing retail holding company. ... Commerce Bancorp is a Cherry Hill, New Jersey based bank holding company that offers banking, insurance, brokerage, and investment banking services in New Jersey, Pennsylvania, New York, Delaware, and Connecticut. ... Hercules Inc. ...

Philadelphia-based and Delaware Valley-based non-public or externally owned corporations (by size):
GlaxoSmithKline (US Operations) | Burlington Coat Factory | Forman Mills


 

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