Ceremony in Wyomissing welcomes switch from Sovereign Bank to Santander Bank
Names of downtown Reading arena, theater also changed to reflect bank's re-branding
A familiar name in banking across the Northeast is no more.
Sovereign Bank was officially re-branded Thursday as Santander Bank.
Bank officials took part in sign unveiling ceremonies at the company's locations in Wyomissing, Berks Co., New York City, Boston and Providence R.I.
"With the full strength and resources of the Santander Group behind us, we’re now in an even better position to deepen relationships with the customers, communities and companies we serve," said Roman Blanco, president and CEO of Santander US. "This change in our name sets the stage for a new phase of investment in our customers and growth for Santander in the United States."
The name-change comes five years after Santander bought Sovereign, then a Wyomissing-based bank, in a stock-for-stock transaction.
The re-branding, officials said, coincides with an advertising campaign that introduces consumers and businesses to the Santander brand and its corporate tagline, "a bank for your ideas."
The switch has also brought about a change for downtown Reading's biggest entertainment venues. The Sovereign Center on Penn Street is now known as the Santander Arena; the Sovereign Performing Arts Center on North 6th Street now goes by the name of the Santander Performing Arts Center.
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