Sovereign Bank

Sovereign Bank provides a broad range of financial services, including retail, business, and corporate banking; cash management; capital markets; private wealth management; and insurance. Its roots reach back to 1902, when it was set up as a building and loan association helping Pennsylvania textile workers become homeowners. Sovereign successfully expanded into New England in 2000, and the New York area in 2006. The expansion into New England included approximately $12 billion in deposits, 8. 1 billion in loans, 281 branches, and 550 ATMs from FleetBoston Financial.