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The Lehigh Valley's sixth-largest bank, Sovereign Bank, is changing its name to Santander. The bank rolled out the name change Thursday at branch locations in Wyomissing, where the bank was based nationally before moving to Boston in 2011, as well as in Philadelphia, Boston, New York City and Providence, R.I.
Banco Santander was founded on 15 May 1857, with Queen Isabel II 's approval. The bank grew and in the 1920s started to build a network of branches.In 1942 it opened in Madrid.s Banco Santander owned 25% of Sovereign, it had the right to buy the bank for $40 per share for one year beginning in the middle of 2008. On June 1, 2006, Sovereign Bank purchased Independence Community Bank Corp. of Brooklyn, New York, for US$ 3.6 billion in cash.