Sovereign Bank

Sovereign Bank was established on July 29, 2004, under the original name Sovereign Bank, N.A. Initially operating under federal charters, the bank underwent a significant regulatory change on March 26, 2007, when it changed its name to Sovereign Bank and transitioned to a state-chartered bank. On the same day, the bank withdrew from the Federal Reserve System and changed its primary federal regulatory agency to the Federal Deposit Insurance Corporation (FDIC). Following this, the main office relocated to 17950 Preston Road, Suite 100, in Dallas, Texas, on September 22, 2005. Ultimately, on August 1, 2017, Sovereign Bank merged with Veritex Community Bank, located in Dallas, Texas, becoming part of a larger banking institution.

Below is a list of some important events in banks history, including mergers and acquisitions.

2004-07-29Institution established. Original name: Sovereign Bank, N.a..

2005-09-22Main Office moved to 17950 Preston Road - Suite 100, Dallas, TX 75252.

2007-03-26Institution withdraws from membership in the Federal Reserve System.

2007-03-26Changed Chartering Agency to State.

2007-03-26Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

2007-03-26Changed Primary Federal Regulatory Agency to FDIC.

2007-03-26Changed Institution Name to Sovereign Bank.

2017-08-01Merged and became part of Veritex Community Bank in Dallas, TX.