Roundup: Sovereign's Deal for Colonial Advances

WYOMISSING, Pa. - Sovereign Bancorp said it has signed a definitive agreement to acquire Colonial State Bank for $6.25 million.

The acquisition of Colonial, a $45 million-asset bank based in Freehold, N.J., is expected to close by June 30. The transaction is subject to regulatory and shareholder approval.

Sovereign has $6.6 billion in assets.

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