SEC FILE NUMBER
0-16533
CUSIP NUMBER
845905 10 8
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): Form 10-K ___Form 20-F ___Form 11-K
X Form 10-Q ___Form N-SAR
For Period Ended: June 30, 1998
___ Transition Report on Form 10-K
___ Transition Report on Form 20-F
___ Transition Report on Form 11-K
___ Transition Report on Form 10-Q
___ Transition Report on Form N-SAR
For the Transition Period Ended:_________________
Read Instruction (on back page) Before Preparing Form.
Please Print or Type.
Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
Sovereign Bancorp, Inc.
Full Name of Registrant
Not applicable
Former Name if Applicable
1130 Berkshire Boulevard
Address of Principal Executive Office (Street and Number)
Wyomissing, PA 19610
City, State and Zip Code
PAGE 1
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PART II -- RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to
Rule 12b-25(b), the following should be completed. (Check box if
appropriate)
[X] (a) The reasons described in reasonable detail in Part III
of this form could not be eliminated without
unreasonable effort or expense.
[X] (b) The subject annual report, semi-annual report,
transition report on Form 10-KSB, Form 20-F, 11-K or
Form N-SAR, or portions thereof, will be filed on or
before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report or
transition report on Form 10-Q, or portion thereof will
be filed on or before the fifth calendar day following
the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable.
PART III -- NARRATIVE
State below in reasonable detail the reasons why Forms 10-K,
20-F, 11-K, 10-Q, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed time period.
In February 1998, the Registrant completed its acquisition
of ML Bancorp, Inc. and its principal operating subsidiary, Main
Line Bank ("Main Line"). During the second quarter of 1998, the
Registrant changed the vendor for Main Line's general ledger
accounting system. As a result of transition issues involving
the computer systems of the Registrant and the new vendor for
Main Line's general ledger accounting system, the Registrant has
not completed the final review of all of the financial and other
information to be included in the subject report.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification.
David W. Swartz, Esq. (610) 478-2184
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under
Section 13 or 15(d) of the Securities Exchange Act of
1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such
report(s) been filed? If answer is no, identify
report(s). X Yes No
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(3) Is it anticipated that any significant change in
results of operations from the corresponding period for
the last fiscal year will be reflected by the earnings
statements to be included in the subject report or
portion thereof? Yes X No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and if appropriate, state
why a reasonable estimate cannot be made.
Sovereign Bancorp, Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: August 14, 1998 By/s/ Mark R. McCollom
Mark R. McCollom,
Chief Accounting Officer
INSTRUCTION: The form may be signed by an executive officer of
the registrant or by any other duly authorized representative.
The name and title of the person signing the form shall be typed
or printed beneath the signature. If the statement is signed on
behalf of the registrant by an authorized representative (other
than an executive officer), evidence of the representative's
authority to sign on behalf of the registrant shall be filed with
the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001). <PAGE 3>
