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Sovereign Bank

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NEWS
July 22, 2000 | By Melia Bowie, INQUIRER SUBURBAN STAFF
An armed man forced his way into the Sovereign Bank branch in the Dresher Shopping Center about a half-hour before it opened yesterday, bound several employees with duct tape, and escaped with an undisclosed amount of cash. No one was hurt in the 8:30 a.m. robbery, authorities said. Linda Vizi, an FBI spokeswoman, said the man approached several bank employees as they entered the building at Dreshertown Road and Limekiln Pike in Montgomery County. "He ushered them by point of gun into the bank, tied them, and duct-taped them," she said.
NEWS
November 14, 2011
Sovereign Bank, which has 70 branches in the Philadelphia region, said it received regulatory approval to convert from a savings bank to a national bank. The Boston-based bank, which used to be headquartered near Reading, is a subsidiary of Spain's Banco Santander S.A. Sovereign said the change would allow it to conduct more business with large corporations. Traditionally, savings banks have emphasized residential real estate lending. - Harold Brubaker
BUSINESS
March 1, 2000 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
To prevent financial indigestion, Sovereign Bank will buy its way into New England in bite-sized chunks - and take its time paying. The U.S. Office of Thrift Supervision yesterday approved Sovereign's $1.4 billion purchase of surplus New England offices of the newly merged FleetBoston Corp., contingent on 18 conditions. "It's a huge transaction, compared to their existing franchise," said Scott Albinson, the agency's managing director for supervision. He said that Sovereign will double its branch network and its deposit base.
BUSINESS
June 4, 2004 | By Todd Mason INQUIRER STAFF WRITER
Sovereign Bank is the latest institution to replace debit cards compromised in a security breach at BJ's Wholesale Club Inc. The Philadelphia-based bank said it mailed letters last month to 83,000 customers warning them that their accounts were possibly at risk and telling them that replacement cards would arrive by next week. "Based on the work of the U.S. Secret Service, we decided to take a broad approach," Sovereign spokesman Dick Ehst said. The Secret Service, which enforces laws protecting currency and payment systems, is investigating the security breach.
BUSINESS
July 10, 2001 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Also in this column: Marketing pitch Tiny Curtis grows Happy birthday? Philadelphia-area banks are getting ready to buy a whole lot of new signs - and to do a lot of explaining to confused customers. Concord EFS of Memphis, which recently merged the Wilmington-based MAC automatic-teller network with two other systems, is giving banks and merchants that offer the machines a year and a half to scrap their MAC Card signs and install new Concord Star Systems logos.
BUSINESS
July 24, 2003 | By Todd Mason INQUIRER STAFF WRITER
Investors pounced on shares of Sovereign Bancorp after its chairman, Jay Sidhu, said last week that the bank was for sale at the right price. The rumor mill matched up the Philadelphia bank with Citizens Bank of Pennsylvania and with Washington Mutual Inc. Fleet Bank is also said to be shopping for bank branches in the hotly competitive Philadelphia market. But do not expect a sequel to 1998's Bank Sign Bingo, the last wave of consolidation to hit these parts. "It may look like the time to do it, but there aren't that many candidates to go," said Arnold G. Danielson, chairman of Danielson Associates.
NEWS
September 23, 2000 | SAM RABINOWITZ/ FOR THE DAILY NEWS
Police say two men with a shotgun robbed the Sovereign Bank on Roosevelt Boulevard near Welsh Road yesterday. It was reportedly the sixth robbery in the area recently.
NEWS
December 16, 1998 | JOAN FAIRMAN KANES / Inquirer Suburban Staff
Bill Lemon of Sovereign Bank delivers toys to Presbyterian Children's Village in Rosemont. The village serves neglected and abused children. The bank and the Main Line Volunteer Force collected gifts.
NEWS
January 19, 2012 | Staff Report
Police are looking for a man who staged stickups at two banks two blocks apart in Southwest Philadelphia this morning. It is not clear yet if the thief made off with any money from the M&T Bank branch at 6301 Woodland Ave. or the Sovereign Bank branch at 6500 Woodland Ave. Police are using a photo taken from surveillance video in their hunt for the bandit.
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BUSINESS
April 24, 2014 | By Harold Brubaker, Inquirer Staff Writer
Six months after changing its name from Sovereign Bank to Santander Bank, after its Spanish parent, the Boston-based bank is opening two new branches in Philadelphia, one near Rittenhouse Square and the other in University City, bank officials will announce Wednesday. The branches are to open this summer and are a sign that Santander is expanding its branch-banking presence in the region after trimming 10 branches during the financial crisis. "There's no substitute for small-business owners and for consumers being able to walk into a branch and meet face-to-face with an experienced, professional banker," said Jonathan Roberts, Santander's regional president for Southeastern Pennsylvania, Central New Jersey, and Delaware.
NEWS
April 4, 2014 | BY VINNY VELLA & MORGAN ZALOT, Daily News Staff Writers vellav@phillynews.com, 215-854-2513
This story has been updated. A WEST PHILLY couple is accused of kidnapping an elderly woman and draining her bank account Monday, police said. And it may not be the first time they've allegedly preyed on such a victim. Vickson Korlewala, 57, and Lorpu Korlewala, 51, were arrested today and charged with robbery, kidnapping and related offenses after the victim, 80, identified them to detectives from the Southwest Detective Division, a police source said. The pair denied their involvement in the kidnapping.
NEWS
December 15, 2013 | By Jonathan Lai, Inquirer Staff Writer
CAMDEN Citing missed payments, a bank that helped finance the development of Campbell's Field, where the Camden Riversharks play, is suing to recover $4.6 million in loans. Santander Bank, a Wilmington-based entity formerly known as Sovereign Bank, filed the suit in federal court in Camden on Dec. 4. The bank is asking for a judgment against CFDA Baseball Property Inc., the Cooper's Ferry Partnership subsidiary that took the loans out to build the stadium. It is asking for the same judgment against Camden Baseball L.L.C., owner of the Riversharks, as the guarantor of the loans.
NEWS
August 14, 2013 | By John P. Martin, Inquirer Staff Writer
Ten times in February, Tarik Hooks walked into area banks with plans to rob them. He succeeded six times. The others, not so much. Even as FBI agents scrambled to put a name to the guy they saw on surveillance video, Hooks was being scared off by bank employees who were less than responsive to his demands, court filings show. Two tellers complained that they could not read his handwritten notes. Hooks abandoned a third stickup when he was told he had to show ID to get the money, according to the records, an FBI affidavit, and a prosecutor's memo.
BUSINESS
August 14, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
Bryn Mawr Trust Co. , which has been trying to expand its status as the biggest bank still based in the Philadelphia suburbs, has canceled its $33 million plan to buy MidCoast Bank and its Delaware branches after MidCoast chief executive James A. Ladio abruptly left. Bryn Mawr CEO Ted Peters had named Ladio to run the banks' combined Delaware operations. The two had been meeting with local clients and Delaware potentates in advance of the merger. Did Ladio's departure spoil the deal?
BUSINESS
July 29, 2013 | By Jeff Gelles, Inquirer Columnist
Irma Shapiro clearly has bigger things to complain about than a credit-card bill, including an annus horribilis that could make a queen of England shudder. An artist, she lost many of her paintings and a lifetime's worth of belongings last year when an electrical fire destroyed her Bala Cynwyd home. Then she lost her sister, her only sibling. Two months later, her nephew died. But sometimes, it's the small stuff that rankles - especially when you suspect a larger pattern.
NEWS
July 25, 2013 | By Mari A. Schaefer, Inquirer Staff Writer
A Philadelphia man has been arrested in connection with multiple bank robberies in the city and Montgomery County, officials announced. Demetrious Washington, 26, allegedly robbed six banks starting in mid-May. He carried a silver revolver during the heists, according to a release issued by the Montgomery County district attorney's office. On Monday police stopped Washington, who was driving a Ford Taurus and circling a Sovereign Bank in Cheltenham. The bank had been robbed twice before.
NEWS
July 14, 2013
POLICE IN Montgomery County and the FBI are on the hunt for a suspected serial bank robber who they say struck again at a Rockledge Wells Fargo branch Wednesday morning. The suspect, whom authorities describe as a black or Hispanic man with a dark complexion, 5 feet 2 to 5 feet 6 and thin, went into the bank on Huntingdon Pike near Elm Avenue shortly after 10 a.m. Wednesday and brandished a silver handgun, announcing a robbery, police said. He then demanded money from a teller and fled, hopping a fence and running westbound through neighbors' back yards.
NEWS
April 4, 2013 | By Darran Simon, INQUIRER STAFF WRITER
Two Camden men were killed in unrelated shootings Tuesday night, authorities said Wednesday. Quenzell Morris, 31, was shot several times in an apparent robbery shortly after 8 p.m. at the intersection of North 26th and Cramer Streets in the Cramer Hill section, the Camden County Prosecutor's Office and city police said. An 18-year Camden resident who was with Morris was pistol-whipped. He fled but returned to find Morris shot and helped transport Morris to Cooper University Medical Center.
NEWS
March 16, 2013
A federal judge handed down a 131/2-year sentence for a Pennsauken man who, while on release after robbing a bank, robbed three more. Richard B. Jones, 38, pleaded guilty to robbing a Sovereign Bank in Pennsauken on Nov. 28, 2011. He also admitted robbing the same bank and a PNC Bank, also in Pennsauken, that month. Jones was on federal supervised release at that time for a Rhode Island bank robbery he committed in 2006. Jones was sentenced to 151 months in prison for the new robberies and 24 months for violating release.
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