Sovereign Bancorp
Sovereign Bancorp is one of the largest thrift banks in the United States. Its main office is located in south of Philadelphia with more than 700 branches covering 8 states. It has a subsidiary company named Sovereign Bank offering different types of financial transactions such as deposit products, credit cards, insurance, investing plans or stocks and as wells as commercial loans and mortgages and home equity loans. Sovereign Bancorp caters to individuals and small to medium sized businesses, offering loans that helps these businesses with their cash flow and be able to expand their business. Sovereign proved to be strong amidst the negative feedbacks they’ve been getting. With nearly 30 acquisitions since 1990, a net income jumping to 49 percent and earnings leaped to 30 percent, who wouldn’t want to get a fair share of these earnings. Sovereign employees keep their trust to their company giving what customers their primary need … superior service. They go beyond service … they touch a person… their customer, that’s why they keep coming back. With the teamwork from the executives down to the lowest rank, they’ll be able to surpass these trying times. In my opinion, Sovereign will be able to sustain their stature. With the strength built on the foundation of years of experience, through ups and downs they will rise above this. So hang on to your stocks and let years of Sovereign Bancorp history do the talking. But they just have to be very careful in their decisions for acquisitions. But short-term stock investments can be considered.