Sovereign is the third largest financial institution headquartered in Pennsylvania and the fifth largest depository institution in New Jersey. With roots dating back more than a century, the company now has approximately 300 community banking and loan offices in eastern Pennsylvania, New Jersey and northern Delaware.
Sovereign currently has one pending acquisition.
Sovereign Bank's roots in Pennsylvania reach as far back as 1875. At that time, the Lancaster County banking community was comprised of The Union Building and Loan, Industrial Building and Loan and Home Building and Loan Associations. Sovereign's ancestry in Berks County can be traced to 1902 and the Wyomissing Building and Loan Association. Its first subsidiary was the Penn Savings Bank, which was formed in 1984 as the result of a merger between the First Federal Savings and Loan of Lancaster and the New Home Federal Savings and Loan Association. In 1989, Sovereign acquired Yardley Savings and Loan Association in Bucks County, Pennsylvania.