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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt">As filed with the Securities and Exchange Commission on January&nbsp;25, 2005.



<P align="right" style="font-size: 10pt">Registration No.&nbsp;333-______



<P align="right" style="font-size: 10pt">&nbsp;



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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000">


<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000">


<P align="center" style="font-size: 24pt"><B>SOVEREIGN BANCORP, INC.</B>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="59%" align="center" color="#000000">
(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Pennsylvania
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">23-2453088</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of <br>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification<br>
Number)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">Sovereign Bancorp, Inc.<BR>
1500 Market Street<BR>
Philadelphia, Pennsylvania 19102



<DIV align="center" style="font-size: 10pt">(215)&nbsp;557-4630</DIV>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="35%" align="center" color="#000000">
(Address of Principal Executive Offices, including zip code)</DIV>



<P align="center" style="font-size: 10pt">Waypoint Financial Corp. Retirement Savings Incentive Plan<BR>
Waypoint Financial Corp. 2001 Stock Option Plan<BR>
Harris Financial, Inc. 1999 Incentive Stock Option Plan<BR>
Harris Financial, Inc. 1999 Stock Option Plan for Outside Directors<BR>
York Financial Corp. 1997 Stock Option and Incentive Plan<BR>
Harris Savings Bank 1996 Incentive Stock Option Plan<BR>
York Financial Corp. 1995 Non-Qualified Stock Option Plan for Directors<BR>
Harris Savings Bank 1994 Incentive Stock Option Plan<BR>
Harris Savings Bank 1994 Stock Option Plan for Outside Directors


<DIV align="center" style="font-size: 10pt">York Financial Corp. Non-Incentive Stock Option Plan for Directors
<HR size="1" noshade width="35%" align="center" color="#000000">
(Full title of Plans)</DIV>



<P align="center" style="font-size: 10pt">David A. Silverman, Esquire<BR>
General Counsel<BR>
Sovereign Bancorp, Inc.<BR>
1130 Berkshire Boulevard


<DIV align="center" style="font-size: 10pt">Wyomissing, Pennsylvania 19610
<HR size="1" noshade width="30%" align="center" color="#000000">
(Name and address, including zip code of agent for service)</DIV>







<P align="center" style="font-size: 10pt">(610)&nbsp;320-8400


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="30%" align="center" color="#000000">
(Telephone number, including area code, of agent for service)</DIV>



<P align="center" style="font-size: 10pt">Copies to:



<P align="center" style="font-size: 10pt">David W. Swartz, Esquire<BR>
Stevens &#038; Lee, P.C.<BR>
111 North Sixth Street<BR>
P.O. Box 679<BR>
Reading, Pennsylvania 19603-0679<BR>
(610)&nbsp;478-2184
<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="30%" align="center" color="#000000"></DIV>
<P align="center" style="font-size: 10pt">CALCULATION OF REGISTRATION
FEE</DIV>



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="35%" align="center" color="#000000">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Title of each Class</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount of</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">of Securities to be</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount to be</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Offering Price</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Aggregate</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Registration</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Registered</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" style="border-bottom: 1px solid #000000">Registered (1)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">per Share</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Offering Price</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Fee</TD>
</TR>

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<TR valign="bottom">
    <TD><DIV style="margin-left:0px; text-indent:-0px">Common Stock, no
par value (and
associated stock
purchase rights)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">3,064,814 (2)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">$22.00 (3)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">$67,425,908.00</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">$7,936.03</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="35%" align="center" color="#000000">


<P align="left" style="font-size: 10pt">(1)&nbsp;Pursuant to Rule&nbsp;416, this Registration Statement covers, in addition to the number of shares stated herein, an
indeterminate number of shares which may be subject to grant or otherwise issuable by reason of stock splits, stock
dividends, or similar transactions.


<P align="left" style="font-size: 10pt">(2)&nbsp;Represents shares of the common stock of the Registrant issuable to participants in the Waypoint Financial Corp.
Retirement Savings Incentive Plan or issuable upon exercise of outstanding stock options previously granted by Waypoint
Financial Corp. (&#147;Waypoint&#148;) pursuant to the Waypoint Financial Corp. 2001 Stock Option Plan, the Harris Financial, Inc.
1999 Incentive Stock Option Plan, the Harris Financial, Inc. 1999 Stock Option Plan for Outside Directors, the York
Financial Corp. 1997 Stock Option and Incentive Plan, the Harris Savings Bank 1996 Incentive Stock Option Plan, the York
Financial Corp. 1995 Non-Qualified Stock Option Plan for Directors, the Harris Savings Bank 1994 Incentive Stock Option
Plan, the Harris Savings Bank 1994 Stock Option Plan for Outside Directors, and the York Financial Corp. Non-Incentive
Stock Option Plan for Directors, which plans and options were assumed by the Registrant in connection with the merger
contemplated by the Agreement and Plan of Merger, dated as of March&nbsp;8, 2004, between Registrant and Waypoint.


<P align="left" style="font-size: 10pt">(3)&nbsp;Estimated pursuant to Rule 457(c) and (h)(1) under the Securities Act of 1933 solely for the purpose of calculating the
amount of the registration fee based upon the average of the high and low prices for a share of the Registrant&#146;s common
stock on January&nbsp;18, 2005, as reported on the New York Stock Exchange.

<p>
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<P align="center" style="font-size: 10pt">1
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><U>Explanatory Note</U>

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;21, 2005, Registrant acquired all of the outstanding capital stock of Waypoint as
the result of the merger of Waypoint with and into Registrant. In connection with the merger,
certain options previously granted under the Waypoint Financial Corp. 2001 Stock Option Plan, the
Harris Financial, Inc. 1999 Incentive Stock Option Plan, the Harris Financial, Inc. 1999 Stock
Option Plan for Outside Directors, the York Financial Corp. 1997 Stock Option and Incentive Plan,
the Harris Savings Bank 1996 Incentive Stock Option Plan, the York Financial Corp. 1995
Non-Qualified Stock Option Plan for Directors, the Harris Savings Bank 1994 Incentive Stock Option
Plan, the Harris Savings Bank 1994 Stock Option Plan for Outside Directors, and the York Financial
Corp. Non-Incentive Stock Option Plan for Directors (collectively, the &#147;Option Plans&#148;), which were
exercisable to purchase Waypoint common stock, were assumed by Registrant and are now exercisable
to purchase Registrant&#146;s common stock. In addition, upon the merger, by operation of law
Registrant became the sponsor of the Waypoint Financial Corp. Retirement Savings Incentive Plan
(the &#147;Retirement Plan&#148;), pursuant to which plan participants had the option to purchase shares of
Waypoint common stock and will have the option to purchase Registrant&#146;s common stock. This
Registration Statement is being filed with respect to the shares of Registrant&#146;s common stock so
purchasable pursuant to the Retirement Plan and under options outstanding under the Option Plans.



<P align="center" style="font-size: 10pt">2
</DIV>

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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
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</TR>
<TR><TD colspan="9"><A HREF="#000"> PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001"> Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002"> Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003"> Item&nbsp;5. Interest of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004"> Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005"> Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006"> Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007"> Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="w04960exv5w1.htm">Opinion and consent of Stevens & Lee, P.C.</A></TD></TR>
<TR><TD colspan="9"><A HREF="w04960exv23w1.htm">Consent of Ernst & Young LLP.</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 " PART II " -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt">PART II



<P align="center" style="font-size: 10pt">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT


<!-- link2 " Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;3. Incorporation of Documents by Reference.




<P align="left" style="margin-left:3%; font-size: 10pt">In this Registration Statement, &#147;we,&#148; &#147;us,&#148; and &#147;our&#148; refer to Sovereign Bancorp, Inc.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Securities and Exchange Commission (the &#147;SEC&#148;) are
incorporated by reference in this Registration Statement and made a part hereof:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2003;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>our Quarterly Reports on Form 10-Q for the fiscal quarters ended March&nbsp;31, 2004, June&nbsp;30,
2004, and September&nbsp;30, 2004;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>our Current Reports on Form 8-K filed with the SEC on January&nbsp;21, 2004, January&nbsp;28, 2004,
February&nbsp;17, 2004, February&nbsp;19, 2004, March&nbsp;11, 2004,
April&nbsp;13, 2004, July&nbsp;23, 2004, August&nbsp;24, 2004, August&nbsp;27, 2004, October&nbsp;15, 2004, October&nbsp;20, 2004, October&nbsp;21, 2004, November&nbsp;23,
2004, November&nbsp;29, 2004, December&nbsp;16, 2004, December&nbsp;27, 2004, January&nbsp;5, 2005 and January&nbsp;19,
2005; and our Current Report on Form&nbsp;8-K/A (Amendment
No.&nbsp;3) filed on January&nbsp;24, 2005;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">(d)&nbsp;&nbsp;</TD>
    <TD>our Registration Statement on Form 8-A, filed with the SEC on July&nbsp;3, 2001, pursuant to which
we registered our common stock under the Securities Exchange Act of 1934, and any amendments
or reports filed for the purpose of updating such registration statement;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">(e)&nbsp;&nbsp;</TD>
    <TD>our Registration Statement on Form 8-A, filed with the SEC on July&nbsp;3, 2001, pursuant to which
we registered certain stock purchase rights under the Securities Exchange Act of 1934, and any
amendments or reports filed for the purpose of updating such registration statement; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">(f)&nbsp;&nbsp;</TD>
    <TD>all other documents filed by us after the date of this Registration Statement under Section
13(a), 13(c),14, and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a
post-effective amendment to the Registration Statement which indicates that all securities
offered have been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and part of this
Registration Statement from the date of filing of such documents.</TD>
</TR>

</TABLE>

<!-- link2 " Item&nbsp;4. Description of Securities" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;4. Description of Securities.




<P align="left" style="margin-left:3%; font-size: 10pt">Not applicable.

<!-- link2 " Item&nbsp;5. Interest of Named Experts and Counsel" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;5. Interest of Named Experts and Counsel.




<P align="left" style="margin-left:3%; font-size: 10pt">Not applicable.

<!-- link2 " Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;6. Indemnification of Directors and Officers.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania law provides that a Pennsylvania corporation may indemnify directors, officers,
employees and agents of the corporation against liabilities they may incur in such capacities for
any action taken or any failure to act, whether or not the corporation would have the power to
indemnify the person under any provision of law, unless such action or failure to act is determined
by a court to have constituted recklessness or willful misconduct. Pennsylvania law also permits
the adoption of a bylaw amendment, approved by shareholders, providing for the elimination of a
director&#146;s liability for monetary damages for any action taken or any failure to take any action
unless (1)&nbsp;the director has breached or failed to perform the duties of his office and (2)&nbsp;the
breach or failure to perform constitutes self-dealing, willful misconduct or recklessness.


<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our bylaws provide for (1)&nbsp;indemnification of our directors, officers, employees and agents
and (2)&nbsp;the elimination of a director&#146;s liability for monetary damages, to the fullest extent
permitted by Pennsylvania law.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors and officers are also insured against certain liabilities for their actions, as
such, by an insurance policy obtained by us.

<!-- link2 " Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;7. Exemption from Registration Claimed.




<P align="left" style="margin-left:3%; font-size: 10pt">Not Applicable.

<!-- link2 " Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;8. Exhibits




<P align="left" style="margin-left:3%; font-size: 10pt">Exhibits:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and restated provisions of Articles of Incorporation of Sovereign
Bancorp, Inc. (Incorporated by reference to Exhibit&nbsp;3.1 of Sovereign
Bancorp&#146;s Registration Statement No.&nbsp;333-117621 on Form&nbsp;S-8.)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws of Sovereign Bancorp, Inc. as amended and restated as of June&nbsp;24,
2004. (Incorporated by reference to Exhibit&nbsp;3.2 of Sovereign Bancorp&#146;s
Registration Statement No.&nbsp;333-117621 on Form&nbsp;S-8.)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated Rights
Agreement, dated as of January&nbsp;19, 2005, between
Sovereign Bancorp, Inc. and Mellon Investor Services. (Incorporated by
reference to Exhibit&nbsp;4.1 to Sovereign Bancorp&#146;s Current
Report on Form&nbsp;8-K/A No.&nbsp;3 filed January&nbsp;24, 2005.)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion and consent of Stevens &#038; Lee, P.C.</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP.</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Stevens &#038; Lee, P.C. (Included in Exhibit&nbsp;5.1.)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney of Directors and Officers. (Included on signature page.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 " Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="left" style="font-size: 10pt">Item&nbsp;9. Undertakings




<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The undersigned registrant hereby undertakes:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum aggregate offering
price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective registration
statement.


<P align="center" style="font-size: 10pt">4
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement.

<P align="left" style="font-size: 10pt">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Commission by the Registrant pursuant to Section&nbsp;13 or
Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference herein.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;That for the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant
to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan&#146;s annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.



<P align="center" style="font-size: 10pt">5
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 " SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="center" style="font-size: 10pt">SIGNATURES



<P align="left" style="font-size: 10pt"><B>The Registrant</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the Borough of Wyomissing, Commonwealth of Pennsylvania, on January
19, 2005.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SOVEREIGN BANCORP, INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Jay S. Sidhu</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jay S. Sidhu,<BR>
President and Chief Executive Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and
appoints Jay S. Sidhu, James D. Hogan, Lawrence M. Thompson, Jr., and Joseph M. Harenza, and each
of them, his true and lawful attorney-in-fact, as agent with full power of substitution and
resubstitution of him and in his name, place and stead, in any and all capacity, to sign any or all
amendments to this Registration Statement and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange Commission, granting unto
such attorney-in-fact and agent full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises, as fully and to all intents and
purposes as they might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or their substitute or substitutes, may lawfully do or cause to be
done by virtue hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jay S. Sidhu
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board,
President, Chief Executive
Officer and Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jay S. Sidhu</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ P. Michael Ehlerman
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">P. Michael Ehlerman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Brian Hard
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Brian Hard</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Andrew C. Hove, Jr.
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Andrew C. Hove, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Daniel K. Rothermel
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Daniel K. Rothermel</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Cameron C. Troilo
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cameron C. Troilo</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James D. Hogan
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James D. Hogan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Mark R. McCollom
<HR size="1" noshade color="#000000">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Accounting Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;19, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Mark R. McCollom</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="center" style="font-size: 10pt">EXHIBIT INDEX


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and restated provisions of Articles of Incorporation of Sovereign
Bancorp, Inc. (Incorporated by reference to Exhibit&nbsp;3.1 of Sovereign
Bancorp&#146;s Registration Statement No.&nbsp;333-117621 on Form&nbsp;S-8.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws of Sovereign Bancorp, Inc. as amended and restated as of June&nbsp;24,
2004. (Incorporated by reference to Exhibit&nbsp;3.2 of Sovereign Bancorp&#146;s
Registration Statement No.&nbsp;333-117621 on Form&nbsp;S-8.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated Rights
Agreement, dated as of January&nbsp;19, 2005, between
Sovereign Bancorp, Inc. and Mellon Investor Services. (Incorporated by
reference to Exhibit&nbsp;4.1 to Sovereign Bancorp&#146;s Current
Report on Form&nbsp;8-K/A No.&nbsp;3 filed January&nbsp;24, 2005.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion and consent of Stevens &#038; Lee, P.C.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Stevens &#038; Lee, P.C. (Included in Exhibit&nbsp;5.1.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney of Directors and Officers. (Included on signature page.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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sv8
Table of Contents
As filed with the Securities and Exchange Commission on January 25, 2005.
Registration No. 333-______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SOVEREIGN BANCORP, INC.
(Exact name of Registrant as specified in its charter)
Pennsylvania
23-2453088
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification
Number)
Sovereign Bancorp, Inc.
1500 Market Street
Philadelphia, Pennsylvania 19102
(215) 557-4630
(Address of Principal Executive Offices, including zip code)
Waypoint Financial Corp. Retirement Savings Incentive Plan
Waypoint Financial Corp. 2001 Stock Option Plan
Harris Financial, Inc. 1999 Incentive Stock Option Plan
Harris Financial, Inc. 1999 Stock Option Plan for Outside Directors
York Financial Corp. 1997 Stock Option and Incentive Plan
Harris Savings Bank 1996 Incentive Stock Option Plan
York Financial Corp. 1995 Non-Qualified Stock Option Plan for Directors
Harris Savings Bank 1994 Incentive Stock Option Plan
Harris Savings Bank 1994 Stock Option Plan for Outside Directors
York Financial Corp. Non-Incentive Stock Option Plan for Directors
(Full title of Plans)
David A. Silverman, Esquire
General Counsel
Sovereign Bancorp, Inc.
1130 Berkshire Boulevard
Wyomissing, Pennsylvania 19610
(Name and address, including zip code of agent for service)
(610) 320-8400
(Telephone number, including area code, of agent for service)
Copies to:
David W. Swartz, Esquire
Stevens & Lee, P.C.
111 North Sixth Street
P.O. Box 679
Reading, Pennsylvania 19603-0679
(610) 478-2184
CALCULATION OF REGISTRATION
FEE
Title of each Class
Proposed Maximum
Proposed Maximum
Amount of
of Securities to be
Amount to be
Offering Price
Aggregate
Registration
Registered
Registered (1)
per Share
Offering Price
Fee
Common Stock, no
par value (and
associated stock
purchase rights)
3,064,814 (2)
$22.00 (3)
$67,425,908.00
$7,936.03
(1) Pursuant to Rule 416, this Registration Statement covers, in addition to the number of shares stated herein, an
indeterminate number of shares which may be subject to grant or otherwise issuable by reason of stock splits, stock
dividends, or similar transactions.
(2) Represents shares of the common stock of the Registrant issuable to participants in the Waypoint Financial Corp.
Retirement Savings Incentive Plan or issuable upon exercise of outstanding stock options previously granted by Waypoint
Financial Corp. ("Waypoint") pursuant to the Waypoint Financial Corp. 2001 Stock Option Plan, the Harris Financial, Inc.
1999 Incentive Stock Option Plan, the Harris Financial, Inc. 1999 Stock Option Plan for Outside Directors, the York
Financial Corp. 1997 Stock Option and Incentive Plan, the Harris Savings Bank 1996 Incentive Stock Option Plan, the York
Financial Corp. 1995 Non-Qualified Stock Option Plan for Directors, the Harris Savings Bank 1994 Incentive Stock Option
Plan, the Harris Savings Bank 1994 Stock Option Plan for Outside Directors, and the York Financial Corp. Non-Incentive
Stock Option Plan for Directors, which plans and options were assumed by the Registrant in connection with the merger
contemplated by the Agreement and Plan of Merger, dated as of March 8, 2004, between Registrant and Waypoint.
(3) Estimated pursuant to Rule 457(c) and (h)(1) under the Securities Act of 1933 solely for the purpose of calculating the
amount of the registration fee based upon the average of the high and low prices for a share of the Registrant's common
stock on January 18, 2005, as reported on the New York Stock Exchange.
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Explanatory Note
On January 21, 2005, Registrant acquired all of the outstanding capital stock of Waypoint as
the result of the merger of Waypoint with and into Registrant. In connection with the merger,
certain options previously granted under the Waypoint Financial Corp. 2001 Stock Option Plan, the
Harris Financial, Inc. 1999 Incentive Stock Option Plan, the Harris Financial, Inc. 1999 Stock
Option Plan for Outside Directors, the York Financial Corp. 1997 Stock Option and Incentive Plan,
the Harris Savings Bank 1996 Incentive Stock Option Plan, the York Financial Corp. 1995
Non-Qualified Stock Option Plan for Directors, the Harris Savings Bank 1994 Incentive Stock Option
Plan, the Harris Savings Bank 1994 Stock Option Plan for Outside Directors, and the York Financial
Corp. Non-Incentive Stock Option Plan for Directors (collectively, the "Option Plans"), which were
exercisable to purchase Waypoint common stock, were assumed by Registrant and are now exercisable
to purchase Registrant's common stock. In addition, upon the merger, by operation of law
Registrant became the sponsor of the Waypoint Financial Corp. Retirement Savings Incentive Plan
(the "Retirement Plan"), pursuant to which plan participants had the option to purchase shares of
Waypoint common stock and will have the option to purchase Registrant's common stock. This
Registration Statement is being filed with respect to the shares of Registrant's common stock so
purchasable pursuant to the Retirement Plan and under options outstanding under the Option Plans.
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TABLE OF CONTENTS
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interest of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
Opinion and consent of Stevens & Lee, P.C.
Consent of Ernst & Young LLP.
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
In this Registration Statement, "we," "us," and "our" refer to Sovereign Bancorp, Inc.
The following documents filed with the Securities and Exchange Commission (the "SEC") are
incorporated by reference in this Registration Statement and made a part hereof:
(a)
our Annual Report on Form 10-K for the fiscal year ended December 31, 2003;
(b)
our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2004, June 30,
2004, and September 30, 2004;
(c)
our Current Reports on Form 8-K filed with the SEC on January 21, 2004, January 28, 2004,
February 17, 2004, February 19, 2004, March 11, 2004,
April 13, 2004, July 23, 2004, August 24, 2004, August 27, 2004, October 15, 2004, October 20, 2004, October 21, 2004, November 23,
2004, November 29, 2004, December 16, 2004, December 27, 2004, January 5, 2005 and January 19,
2005; and our Current Report on Form 8-K/A (Amendment
No. 3) filed on January 24, 2005;
(d)
our Registration Statement on Form 8-A, filed with the SEC on July 3, 2001, pursuant to which
we registered our common stock under the Securities Exchange Act of 1934, and any amendments
or reports filed for the purpose of updating such registration statement;
(e)
our Registration Statement on Form 8-A, filed with the SEC on July 3, 2001, pursuant to which
we registered certain stock purchase rights under the Securities Exchange Act of 1934, and any
amendments or reports filed for the purpose of updating such registration statement; and
(f)
all other documents filed by us after the date of this Registration Statement under Section
13(a), 13(c),14, and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a
post-effective amendment to the Registration Statement which indicates that all securities
offered have been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and part of this
Registration Statement from the date of filing of such documents.
Item 4. Description of Securities.
Not applicable.
Item 5. Interest of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Pennsylvania law provides that a Pennsylvania corporation may indemnify directors, officers,
employees and agents of the corporation against liabilities they may incur in such capacities for
any action taken or any failure to act, whether or not the corporation would have the power to
indemnify the person under any provision of law, unless such action or failure to act is determined
by a court to have constituted recklessness or willful misconduct. Pennsylvania law also permits
the adoption of a bylaw amendment, approved by shareholders, providing for the elimination of a
director's liability for monetary damages for any action taken or any failure to take any action
unless (1) the director has breached or failed to perform the duties of his office and (2) the
breach or failure to perform constitutes self-dealing, willful misconduct or recklessness.
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Our bylaws provide for (1) indemnification of our directors, officers, employees and agents
and (2) the elimination of a director's liability for monetary damages, to the fullest extent
permitted by Pennsylvania law.
Directors and officers are also insured against certain liabilities for their actions, as
such, by an insurance policy obtained by us.
Item 7. Exemption from Registration Claimed.
Not Applicable.
Item 8. Exhibits
Exhibits:
Number
Description
3.1
Amended and restated provisions of Articles of Incorporation of Sovereign
Bancorp, Inc. (Incorporated by reference to Exhibit 3.1 of Sovereign
Bancorp's Registration Statement No. 333-117621 on Form S-8.)
3.2
Bylaws of Sovereign Bancorp, Inc. as amended and restated as of June 24,
2004. (Incorporated by reference to Exhibit 3.2 of Sovereign Bancorp's
Registration Statement No. 333-117621 on Form S-8.)
4.1
Second Amended and Restated Rights
Agreement, dated as of January 19, 2005, between
Sovereign Bancorp, Inc. and Mellon Investor Services. (Incorporated by
reference to Exhibit 4.1 to Sovereign Bancorp's Current
Report on Form 8-K/A No. 3 filed January 24, 2005.)
5.1
Opinion and consent of Stevens & Lee, P.C.
23.1
Consent of Ernst & Young LLP.
23.2
Consent of Stevens & Lee, P.C. (Included in Exhibit 5.1.)
24.1
Powers of Attorney of Directors and Officers. (Included on signature page.)
Item 9. Undertakings
(a) The undersigned registrant hereby undertakes:
1. To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum aggregate offering
price set forth in the "Calculation of Registration Fee" table in the effective registration
statement.
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(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement.
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or
Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference herein.
2. That for the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
3. To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant
to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
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SIGNATURES
The Registrant
.
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the Borough of Wyomissing, Commonwealth of Pennsylvania, on January
19, 2005.
SOVEREIGN BANCORP, INC.
By
/s/ Jay S. Sidhu
Jay S. Sidhu,
President and Chief Executive Officer
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and
appoints Jay S. Sidhu, James D. Hogan, Lawrence M. Thompson, Jr., and Joseph M. Harenza, and each
of them, his true and lawful attorney-in-fact, as agent with full power of substitution and
resubstitution of him and in his name, place and stead, in any and all capacity, to sign any or all
amendments to this Registration Statement and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange Commission, granting unto
such attorney-in-fact and agent full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises, as fully and to all intents and
purposes as they might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or their substitute or substitutes, may lawfully do or cause to be
done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
/s/ Jay S. Sidhu
Chairman of the Board,
President, Chief Executive
Officer and Director
January 19, 2005
Jay S. Sidhu
/s/ P. Michael Ehlerman
Director
January 19, 2005
P. Michael Ehlerman
/s/ Brian Hard
Director
January 19, 2005
Brian Hard
/s/ Andrew C. Hove, Jr.
Director
January 19, 2005
Andrew C. Hove, Jr.
/s/ Daniel K. Rothermel
Director
January 19, 2005
Daniel K. Rothermel
/s/ Cameron C. Troilo
Director
January 19, 2005
Cameron C. Troilo
/s/ James D. Hogan
Chief Financial Officer
January 19, 2005
James D. Hogan
/s/ Mark R. McCollom
Chief Accounting Officer
January 19, 2005
Mark R. McCollom
Table of Contents
EXHIBIT INDEX
Number
Description
3.1
Amended and restated provisions of Articles of Incorporation of Sovereign
Bancorp, Inc. (Incorporated by reference to Exhibit 3.1 of Sovereign
Bancorp's Registration Statement No. 333-117621 on Form S-8.)
3.2
Bylaws of Sovereign Bancorp, Inc. as amended and restated as of June 24,
2004. (Incorporated by reference to Exhibit 3.2 of Sovereign Bancorp's
Registration Statement No. 333-117621 on Form S-8.)
4.1
Second Amended and Restated Rights
Agreement, dated as of January 19, 2005, between
Sovereign Bancorp, Inc. and Mellon Investor Services. (Incorporated by
reference to Exhibit 4.1 to Sovereign Bancorp's Current
Report on Form 8-K/A No. 3 filed January 24, 2005.)
5.1
Opinion and consent of Stevens & Lee, P.C.
23.1
Consent of Ernst & Young LLP.
23.2
Consent of Stevens & Lee, P.C. (Included in Exhibit 5.1.)
24.1
Powers of Attorney of Directors and Officers. (Included on signature page.)