As one takeover proceeds, Sovereign plans another

Article Abstract:

Sovereign Bank of Wyomissing, PA, is planning to acquire Peoples Bancorp of Lawrenceville, NJ, for $400 million. The announcement, made by Sovereign Chairman Jay S. Sidhu in Manhattan, NY, comes following the completion of the purchase of over 93 former CoreStates Bank branches. Sovereign is currently implementing some customer-related moves to help smooth the transition and keep customers from switching from other banks. Sovereign's latest acquisition plan is part of its over-all strategy to grow into a bank just like multinational banks First Union, PNC and Mellon.

Comment:

Is planning to acquire Peoples Bancorp of Lawrenceville, NJ, for $400 million

Commercial Banks, Commercial Banking, New Jersey, Sovereign Bank F.S.B., Article, Peoples Bancorp (Lawrenceville, NJ)

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A Seattle company now Pa.'s biggest mortgager

Article Abstract:

Washington Mutual Inc. announced that it bought Dime Bancorp Inc. thereby allowing the company to expand beyond the Pacific states into the eastern seaboard.

United States, Savings & Loan Assns, Savings Institutions, Savings and loan associations, Dime Bancorp Inc., Washington Mutual Inc., DME, WAMU

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