PHILADELPHIA, Sept. 20 /PRNewswire-FirstCall/ -- Sovereign Bancorp,
Inc. ("Sovereign") (NYSE: SOV), parent company of Sovereign Bank ("Bank"),
today held its annual shareholder meeting in Foxborough, Massachusetts.
Speaking before shareholders, Jay S. Sidhu, Chairman and CEO, stated, "As
you know, we closed on our acquisition of Independence Community Bank Corp.
on June 1, 2006. Over the weekend of September 8, 2006, we successfully
converted Independence Community Bank's systems to Sovereign's. We are now
well- positioned to take advantage of market opportunities and execute on
our local market strategy in the New York Metro market. We are pleased to
welcome Independence's customers and team members to Sovereign."
Sovereign Bancorp, Inc. ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, an $89 billion financial institution with nearly
800 community banking offices, over 2,000 ATMs after giving effect to the
recently announced branding agreement in which Sovereign ATMs will be
placed in CVS/pharmacy locations and approximately 12,000 team members 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 is the 17th largest banking institution in the
United States. For more information on Sovereign Bank, visit
http://www.sovereignbank.com or call 1-877-SOV-BANK.
SOURCE Sovereign Bancorp, Inc.
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Related links:
http://www.sovereignbank.com
CONTACT:
FINANCIAL CONTACTS: Mark McCollom,
+1-610-208-6426, mmccollo@sovereignbank.com, or Stacey Weikel,
+1-610-208-6112, sweikel@sovereignbank.com, or MEDIA CONTACT: Ed
Shultz, +1-610-378-6159, eshultz1@sovereignbank.com, all of
Sovereign Bancorp
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