Our History

Sovereign Bancorp, Inc., the parent company of Sovereign Bank, is a financial institution with principal markets in the Northeast United States. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management, and insurance.

Sovereign Bank's roots reach as far back as 1902, when the bank began as a Wyomissing, PA building and loan association created to help textile workers become homeowners.

The Bank officially took the name “Sovereign” in 1986, and a year later formed the parent company, Sovereign Bancorp, Inc.

Sovereign has successfully completed more than two dozen acquisitions since the late 1980s, with each acquisition accelerating Sovereign's earnings growth. Most notably, in July 2000, Sovereign completed its largest acquisition: approximately $12 billion in deposits, $8.1 billion in loans, 281 Community Banking Offices, and 550 ATMs from FleetBoston Financial. At the time, it was the largest branch acquisition in banking history.