Correcting Sovereign expects 2nd quarter net income to be up about 20%, 119 Community Banking Offices sted 199 Community Banking Offices.WYOMISSING, Pa.--(BUSINESS WIRE)--July 13, 1995--Sovereign Bancorp Inc. (NASDAQ/NMS:SVRN) parent company of Sovereign Bank, FSB (FrontSide Bus) See system bus. FSB - front side bus ("Sovereign"). Thursday Thursday: see week. , Sovereign's President and Chief Executive Officer, Jay S. Sidhu Sidhu (Punjabi: ਸਿੱਧੂ, siddhū) is a prominent Jat/Jatt gotra (clan), .The Sidhu clan is mainly found in the state of Punjab in India. , stated that he expects Sovereign's earnings for the 2nd quarter of 1995 to be slightly over $14 million, which is consistent with analysts' estimates. "Based on preliminary figures, Sovereign expects 1995 2nd quarter net income of approximately $14 million, up over 20% from the 2nd quarter of 1994," Sidhu stated. Earnings per share are expected to be 26 cents. Sovereign is a $7 billion holding company for Sovereign Bank, FSB with its network of 119 Community Banking Offices throughout Eastern Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York , New Jersey and Northern Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). . Sovereign expects to release detailed 2nd quarter results next week. Sovereign stock closed at $10.125 on Wednesday, July 12, 1995. CONTACT: Sovereign Bancorp Inc., Wyomissing Karl D. Gerhart, 610/320-8437 Richard A. Elko, 610/320-8434 Linda Hagginbothom, 610/320-8498 |
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