Santander Bank, formerly Sovereign Bank, has over 700 community banking offices, and more than 2,300 ATMs, including many ATMs located in CVS pharmacies. Santander Bank holds more than $77 billion in assets. It serves primarily the Northeast states of the United States and offers home mortgages and banking products such as CDs, savings accounts, and checking accounts.
Sovereign Bank's history dates back to 1902, when it was founded as a building & loan association to help the working class in Pennsylvania. In 2000, Sovereign acquired almost $12 billion in deposits, $8.1 billion in loans, 281 bank branches and 550 ATMs from FleetBoston Financial, which helped the bank expand into New England. The bank expanded into New York in 2006. Sovereign traded under the symbol SOV on the NYSE for many years.
In 2008, Banco Santander, the largest bank in the Eurozone, purchased Sovereign Bank, which was undergoing financial difficulties at the time. In 2013, Sovereign Bank became known as Santander Bank. This new bank appears poised for growth, as Santander is already one of the major players in global banking.
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