<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No: 2)*
Name of Issuer: Sovereign Bancorp, Inc.
Title of Class of Securities: Common Stock
CUSIP Number: 845905108
Check the following [space] if a fee is being paid with this statement:
N/A. (A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act, but shall be subject to all other provisions of the Act (however, see
the Notes).
(Continued on the following page(s))
Page 1 of 4 Pages
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13G
CUSIP No.: 783755101
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
York Bank & Trust Company
2. CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP
A. B. X
3. SEC USE ONLY
4. CITIZENSHIP OF PLACE OF ORGANIZATION
Pennsylvania
(For questions 5-8, report the number of shares beneficially owned by each
reporting person with:)
5. SOLE VOTING POWER
4,085,721
6. SHARED VOTING POWER
-0-
7. SOLE DISPOSITIVE POWER
4,890,224
8. SHARED DISPOSITIVE POWER
-0-
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,890,224
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.4%
12. TYPE OF REPORTING PERSON
BK
Page 2 of 4 Pages
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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
----------------
Schedule 13G
Under the Securities Exchange Act of 1934
----------------
Check the following [line] if a fee is being paid with this statement: N/A.
Item 1(a) - Name of Issuer:
Sovereign Bancorp, Inc.
Item 1(b) - Address of Issuer's Principal Executive Offices:
1130 Berkshire Blvd., Wyomissing, PA 19610
Item 2(a) - Name of Person Filing:
York Bank & Trust Company
Item 2(b) - Title of Class of Securities:
Common Stock
Item 2(e) - CUSIP Number
845905108
Item 3 - Type of Filing:
This statement is being filed pursuant to Rule 13d-1(b). The person
filing is a bank as defined in Section 3(a)(6) of the Securities Exchange Act of
1934, and is trustee under the Sovereign Bancorp, Inc. Employee Stock Ownership
Plan.
Item 4 - Ownership:
(a) Amount Beneficially Owned:
4,890,224
(b) Percent of Class:
5.4%
Page 3 of 4 Pages
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(c) Number of shares as to which such person has:
(i) sole power to vote or direct to vote: 4,085,721
(ii) shared power to vote or direct to vote: -0-
(iii) sole power to dispose of or to direct the
disposition of: 4,890,224
(iv) shared power to dispose or to direct the disposition
of: -0-
Item 5 - Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 - Ownership of More Than Five Percent on Behalf of Another
Person:
Not Applicable
Item 7 - Identification and Classification of the Subsidiary Which
Acquired The Security Being Reported on by the Parent Holding
Company:
Not Applicable
Item 8 - Identification and Classification of Members of Group:
Not Applicable
Item 9 - Notice of Dissolution of Group:
Not Applicable
Item 10 - Certification:
By signing below, I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date 2-11-98 By: /s/ Jan J. Sagett
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Jan J. Sagett
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