Santander Bank, N.A., formerly known as Sovereign Bank, is a subsidiary of the Spanish Santander Group. It is based in Boston, MA, and has over $77 billion in assets while also owning 723 retail offices and more than 2,300 ATMs. Santander offers many services including mortgages, corporate banking, credit cards, trust management, insurance and retail banking. Banco Santander began in Spain on May 15, 1857, with the approval of Queen Isabel II. It grew until the 1920s when it opened several branches. After a few takeovers and acquisitions through its long history, in 2011 the bank both moved its headquarters to Boston and announced a name change to Santander as a part of the goal to create a globally recognized brand.