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Sovereign Bank, N.A. is a Member FDIC and a wholly owned subsidiary of Banco Santander, N.A.© 2012 Sovereign Bank | Sovereign and Santander and its logo are registered trademarks of Sovereign Bank and Santander, respectively, or their affiliates or subsidiaries in the United States and other countries. MasterCard is a registered trademark of MasterCard International Incorporated. The Sovereign Student Banking package is available for full-time and part-time students between the ages of 16 and 25 attending a college, university or other undergraduate level school. Proof of enrollment required.
*In order to qualify for the cash bonus, you need to: (1) open a new Sovereign Student Banking package, which comprises a Sovereign Student Checking account and a Sovereign Student Savings account, or have a pre-existing savings account, each with a minimum opening deposit of $10; (2) enroll in Online Banking at account opening; (3) request a Sovereign Debit MasterCard (“Debit Card”), (4) provide a valid email address, and (5) make 5 purchases with your Sovereign Debit Card or have a direct deposit. The 5 debit card purchases or direct deposit must be made within 60 days of the last day of the month in which the account was opened. The account will be credited within 75 days from the last day of the month in which the account was opened. Maximum $25 bonus per customer. The annual percentage yield (APY) as of 3/24/2012 for Sovereign Student Savings is 0.05%. APYs are subject to change at any time and after account opening. Fees may reduce earnings. The total amount of the bonus credited to your account will be reported to the IRS as interest on your Form 1099—INT for the year in which the bonus is paid. Current personal checking customers or anyone who has had a personal checking account with Sovereign Bank or any of its divisions in the last year are not eligible for this offer. Cannot be combined with other personal checking offers. Offer available only to residents in the following states: ME, VT, NH, CT, RI, MA, NY, NJ, PA, WV, MD, DE, District of Columbia. Offer expires 6/30/2012. Sovereign team members are not eligible for this offer.
Bankrate info:
Sovereign Bank
824 North Market Street, Suite 100
Wilmington, Delaware 19801
STAR RATING: 4
Predictive Indicator - (decline)
As of December 31, 2011
Institution Commentary
OVERVIEW of Institution
Sovereign Bank is a federally chartered thrift institution, which, as of December 31, 2011, reported $78.1468 billion in total assets. Mortgage loans and deposits held by the institution, at that date, amounted to $35.9986 billion and $47.3678 billion, respectively. December 31, 2011 net worth, the difference between total thrift assets and liabilities, was determined to have been $12.6444 billion, which was 16.18% of total assets.
COMPOSITE SUMMARY
Bankrate believes that, as of December 31, 2011, this thrift exhibited a sound condition, characterized by substantially lower than normal overall, sustainable profitability, good asset quality, strong capitalization, and lower than normal liquidity.
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Other sign-up bonuses
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