STRATEGIC PARTNERS
February 27, 2002
WOODCLIFF LAKE, N.J. -- Sovereign Bank has become the newest member of the NYCE Network. Sovereign will add 500 ATMs and 770,000 ATM/debit cards to the network by the end of March.
Sovereign recently purchased more than 550 ATMs from FleetBoston Financial which were already NYCE participants. Pro forma, upon completion of the purchase of assets and deposits from FleetBoston, Sovereign Bank will be a $35 billion financial institution with more than 600 community banking offices in the Northeast.
"NYCE's extensive geographic reach throughout the Northeast and Midwest will help make Sovereign Bank's electronic payments program even more valuable for our customers," said John McCarthy, chief technology officer with Sovereign Bank.
Dennis F. Lynch, President and CEO of NYCE Corporation said, "We look forward to supporting Sovereign's electronic payments needs, and the bank's customers, as we continue to solidify and grow our network reach."
