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               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                            FORM 8-K

                         CURRENT REPORT

               Pursuant to Section 13 or 15(d) of
               The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 15, 1998

                      SOVEREIGN BANCORP, INC.                    
     (Exact name of registrant as specified in its charter)

        Pennsylvania               0-16533           23-2453088  
(State or other jurisdiction     (Commission       (IRS Employer
      of incorporation)          File Number)       Ident. No.)

1130 Berkshire Boulevard, Wyomissing, Pennsylvania      19610    
     (Address of principal executive offices)        (Zip Code)

Registrant's telephone number, including area code (610) 320-8400

                               N/A                               
 (Former name or former address, if changed since last report.)

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Item 5.  Other Events.

     The press release, dated April 15, 1998, of Sovereign
Bancorp, Inc., attached hereto as Exhibit 99.1 is incorporated
herein by reference. 

Item 7.  Financial Statements and Exhibits.

     (a)  Exhibits.

          The following exhibit is filed herewith:

          99.1 Press Release, dated April 15, 1998, of Sovereign
               Bancorp, Inc.

                           SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.

                              SOVEREIGN BANCORP, INC.

Dated:  April 20, 1998

                              By/s/ Jay S. Sidhu                
                                   Jay S. Sidhu,
                                   Chief Executive Officer