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Sovereign Bank

NEWS
February 25, 2004 | By Elisa Ung INQUIRER STAFF WRITER
Optimism that the Riversharks baseball team could work out its financial problems is giving way to fears the club may fail before opening day. Officials said an agreement on restructuring the team's crushing debt load must be reached soon or the team might have to file for bankruptcy. But a complex deal to refinance the debt is encountering opposition from the Delaware River Port Authority, which says it would be shortchanged by $2 million. Loss of the minor-league team would be a major setback to efforts to revitalize the Camden waterfront, which is being transformed into a tourist destination.
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
February 6, 2003 | By Keith Herbert INQUIRER STAFF WRITER
A second lender has sued B.J. Marchese Auto World of Limerick, whose business manager, Benjamin J. Marchese 3d, has been charged with using identity theft to obtain bank loans. Sovereign Bank of Easton earlier this month filed a civil suit in Montgomery County Court against the auto dealer and claimed it used fraud to obtain $2.3 million in auto loans. The bank's lawsuit charges that Benjamin Marchese 3d engaged in a scheme to dupe it into making loans to fictitious customers.
NEWS
January 5, 2003 | By Jonathan Gelb INQUIRER STAFF WRITER
Police are investigating two separate bank robberies in Montgomery County on Friday evening, neither of which appears related to a recent rash of bank holdups in the Philadelphia area, authorities said. The incidents bring to nine the unofficial count of bank robberies in the Philadelphia region in 15 days. Detectives are exploring any connections between Friday's robberies and recent heists in Philadelphia. In one of those crimes in Philadelphia, two men stole $239,200 on Tuesday from the Sentry Credit Union on Germantown Avenue, city police said.
BUSINESS
August 6, 2001 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Three blocks west of their old offices at the Philadelphia brokerage of Janney Montgomery Scott L.L.C., Michael Mufson and his team of 20 stock-pickers and -peddlers started a rival investment bank last week. Unlike 94-year-old Janney, their new employer, Commerce Bancorp Inc., which is based in Cherry Hill, has little experience in the business of taking local companies public, researching stock values, and pitching their shares to big mutual funds and pension plans. So the move represents a vote of confidence, not only in Mufson and his group, but also in the current weak investment market, and in Commerce chairman Vernon Hill's ambitions for his company as a rising financial power.
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.
NEWS
January 25, 2001 | By John Way Jennings, INQUIRER STAFF WRITER
A Camden man who is charged with robbing a Clementon bank Tuesday and is a suspect in seven other bank robberies in South Jersey was ordered held without bail yesterday, pending a detention hearing in U.S. District Court next month. Anthony L. Livingston, 29, appeared before U.S. Magistrate Judge Robert Kugler in Camden on a charge that he robbed the Sovereign Bank on Berlin Road in Clementon of $952 shortly after 2 p.m. Assistant U.S. Attorney Diana Carrig told the court that Livingston was a drug addict and had a lengthy criminal record.
NEWS
December 31, 2000 | By Kayce T. Ataiyero, INQUIRER SUBURBAN STAFF
Meet Justin Burkhardt. He's an energetic, mile-a-minute talker with a contagious enthusiasm. He meets, he greets, he does magic tricks. He is a one-man hospitality, personality machine. He also has mental retardation and cerebral palsy and is confined to a wheelchair. But his charisma is anything but confined. Employees at Sovereign Bank at Lancaster Avenue and Spring Mill Road, where he has been working as a greeter for about a month, say his presence has made the banking experience more pleasant for customers.
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
September 8, 2000 | by Jim Smith, Daily News Staff Writer
Convicted earlier of twice invading homes of bank managers, taking their families hostage, and forcing them at gunpoint to open bank vaults, John D. "Jonathan" Hall yesterday swore he was innocent. "I never hurted no one in my life," Hall told U.S. District Judge John P. Fullam. "I have feelings and also have a heart, too, your honor," Hall pleaded, suggesting he wasn't into such violent crimes. The judge wasn't impressed. "You certainly haven't demonstrated it so far," the judge replied, sentencing the defendant to 53 years in prison without chance of parole.
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