EXHIBIT 99.1


                              FOR IMMEDIATE RELEASE

                              FOR FURTHER INFORMATION CONTACT:

                              Jay S. Sidhu        (610) 320-8416
                              Karl D. Gerhart     (610) 320-8437
                              Linda Hagginbothom  (610) 320-8498


                            SOVEREIGN

                      COMPLETES ACQUISITION

                               OF

                     WEST JERSEY BANCSHARES


     WYOMISSING, PA....Sovereign Bancorp, Inc. (NASDAQ/NMS:SVRN),
parent company of Sovereign Bank, FSB ("Sovereign"), today
announced the completion of the acquisition of West Jersey
Bancshares, Inc. ("West Jersey"), headquartered in Fairfield, New
Jersey.

     In accordance with the merger agreement, West Jersey
shareholders of common stock will receive 0.8335 shares of
Sovereign Common Stock in exchange for each shares of West Jersey
Common Stock.  Based upon a pricing period prescribed in the
merger agreement, West Jersey shareholders will receive total
value of $8.91 in exchange for each share of West Jersey Common
Stock.  Sovereign will issue approximately 1.7 million new shares
of Common Stock.  

     The transaction will be tax free to Sovereign and to West
Jersey shareholders.  The merger will be treated as a pooling-of-
interests for financial accounting purposes.

     The addition of West Jersey's approximately $100 million in
assets increases, on a proforma basis, Sovereign's total assets,
deposits and equity to approximately $8.5 billion, $5.1 billion
and $447 million, respectively.  Sovereign now has 122 offices
throughout eastern Pennsylvania, New Jersey and northern
Delaware.

     Sovereign is the 4th largest financial institution
headquartered in Pennsylvania.  Today, Friday, May 31, 1996,
Sovereign's Common Stock closed at $10.50 per share and its
Preferred Stock closed at $59.50 per shares.

                             THE END