Mergers & Acquisitions

1/30/09

Sovereign acquired by
Banco Santander

• Exchange 1 share of SOV stock for .3206 Santander ADSs

6/1/06

Independence Community
Bancorp Acquisition

• $19.8 billion in assets
• $11.0 billion in deposits
• $13.2 billion in loans
• 126 branches in NY & northern NJ
• Exchange stock for $42.00 per share
• CIL for fractional shares: $21.06
• 100% cash

1/21/05

Waypoint Financial Corporation Acquisition

• $3.8 billion in assets
• $2.8 billion in deposits
• $2.6 billion in loans
• 66 branches serving 10 counties in south central PA & northern MD
• Exchange stock for 1.262 SOV/CIL $22.218
• 70% stock / 30% cash

7/23/04

Seacoast Financial Services Acquisition

• $5.3 billion in assets
• $3.6 billion in deposits
• $3.9 billion in loans
• 67 branches serving 7 counties in southeastern MA
• Exchange stock for 1.594 SOV/CIL $21.96
• 75% stock / 25% cash

2/6/04

First Essex Bancorp, Inc. Acquisition

• $1.8 billion in assets
• $1.3 billion in deposits
• $1.2 billion in loans
• 20 branches throughout Merrimack Valley in MA & NH
• Exchange stock for 2.9250 SOV/CIL $48.00
• 52.6% stock / 47.4% cash

3/8/02

Main Street Bancorp, Inc. Acquisition

• $1.5 billion in assets
• $1.2 billion in deposits
• $.8 billion in loans
• 42 branches in seven counties in southeastern PA & one county in NJ
• Exchange stock for 1.25988 SOV/CIL $12.779

March-July 2000

FleetBoston
Branch and lines of business Acquisition

• $12 billion of deposits
• $9 billion of loans
• 285 branches and 578 ATMs in CT, MA, NH & RI
• Creates Sovereign Bank New England

6/30/99

People's Bank Merger

• $1.4 billion in assets
• $500 million in deposits
• $490 million in loans
• 14 branch offices
• Exchange stock for 0.8 SOV/CIL $12.15625

6/15/99

Network Companies Acquisition

• $50 million in assets
• Specialty leasing company in NY

9/4/98

CoreSates/First Union Branch Acquisition

• 3 billion in assets
• $2.2 billion in Commercial bank deposits
• 93 branches - PA & NJ
• $725 million in consumer/commercial loans

7/31/98

First Home Merger

• $523 million in assets
• $309 million in deposits
• 10 branch offices, NJ & DE
• Pooling-of-interest
• Exchange stock for 1.779 SOV/CIL $17.56

7/31/98

Carnegie Merger

• $424 million in assets
• $323 million in deposits
• 8 branch offices in central NJ
• Pooling-of-interest
• Exchange stock for 2.022 SOV/CIL $17.56

2/27/98

ML Bancorp Merger

• $2.4 billion in assets
• $1.0 billion in deposits
• 29 branch offices in Philadelphia suburbs
• Pooling-of-interest
• Exchange stock for 1.62 SOV/CIL $19.30

9/19/97

Fleet Auto Division Acquisition

• $2.0 billion consumer/commercial loans
• Relationships with 2,000 dealers

8/28/97

Bankers Corp Merger

• $2.6 million in assets
• $1.7 billion in deposits
• 15 branch offices in NJ
• Pooling-of-interest
• Exchange stock for 1.854 SOV

2/18/97

First State Merger

• $603 million in assets
• $550 million in deposits
• 14 branch offices in NJ
• Pooling-of-interest
• Exchange stock for 1.225 SOV

5/31/96

West Jersey Merger

• $100 million in assets
• $90 million in deposits
• 2 branch offices in Essex County, NJ
• Exchange stock for 0.8335 SOV

11/17/95

Berkeley Federal Branch Acquisition

• $112 million of deposits
• 2 branch offices in Bergen County, NJ

11/15/95

Colonial Acquisition

• $45 million in assets
• 1 branch office Freehold, NJ
• $42 million in deposits
• Exchange stock for $11.60 in cash

1/1/95

Berkeley Federal Branch Acquisition

• $900 million in deposits
• 23 branch offices in NJ and DE

11/1/94

Charter Federal Merger

• $406 million in assets
• 10 branch offices in Morris County, NJ
• Pooling-of-interest
• Exhange stock for 3.4 shares of SOV

9/16/94

Second National RTC Branch Acquisition

• Chadds Ford office
• 1 branch office in Delaware County, PA
• $14.4 million in deposits

8/4/94

Shadow Lawn Branch Acquisition

• $787 million in assets
• 17 branch offices in Monmouth County, NJ

11/5/93

Valley Federal Merger

• $275 million in assets
• 9 branch offices in Lehigh Valley, PA area
• Pooling-of-interest
• Exchange stock for 3.2 shares of SOV

8/27/93

Home Unity RTC Acquisition

• $252 million in assets
• 9 branch offices in Philadelphia suburbs

1/1/93

Harmonia Merger

• $800 million in assets
• 17 branch offices in Kenilworth, NJ area
• Exchange stock for 1.7325 shares of SOV/CIL $2.50

9/11/92

Jersey Shore Branch Acquisition

• $505 million in assets
• 14 branch offices in Toms River, NJ area

9/6/91

United Federal RTC Acquisition

• $168.9 million in assets
• $165 million in deposits
• 5 branch offices in Mercer County, NJ

8/23/91

Nassau Federal RTC Acquisition

• $153.9 million in assets
• $158 million of deposits
• 4 branch offices in Mercer and Somerset Counties, NJ