Sovereign Bancorp, Inc., parent company of Sovereign Bank, filed an S-3, shelf registration statement, with the SEC for one billion dollars of capacity to issue various financial instruments in the normal course of business.
Sovereign Bank, currently the third largest bank headquartered in Pennsylvania and the third largest in New England. recently entered into a definitive agreement with Main Street Bancorp, Inc. for Sovereign to acquire Main Street.
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This acquisition will result in Sovereign becoming a pro forma $35 billion financial institution with over 550 community banking offices from north of Boston to south of Philadelphia.
