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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.
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