Sovereign Bancorp's deal for Peoples Bancorp, Lawrenceville, N.J., will be accounted for as a purchase transaction, not a pooling as originally structured.

Changes in the marketplace prompted the decision, said chief financial officer Dennis S. Marlo.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.