|
Sovereign Bancorp is the third largest bank in the state of Pennsylvania. It is based in Wyomissing and has recently been aquiring banks in PA and NJ. It is a " large full service bank with a small community touch". SVRN has a web presence at www.sovereigbbank.com. Investor Relations can be reached at 1-800-320-8498. Sovereign pays a small dividend. Shareholders can add to their holdings though the bank's DRIP Program. Each year stockholders are rewarded with a distribution of at least 10% to upwards of 6 for 5 stock splits. As the 1997 prospectus states , Sovereign is a growth company delivering a 36% average annual increase in stock price over the last twelve years. Also as the consolidation and merger activity continues in the banking industry Sovereign is always a target for a takeover. But even if that never happens the bank is expanding and is a very well run operation. Jay S. Sidhu, President and CEO looks out for the well being of the shareholders. |
