Santander Holdings USA is the parent company of Sovereign Bank, which reigns in the Northeast with more than 700 branch locations. The bank caters to individuals and small to midsized businesses, offering deposits, credit cards, insurance, and investments, as well as commercial loans and mortgages (which together account for nearly half of its total portfolio) and residential mortgages and home equity loans (more than a quarter). Santander Holdings also owns a majority of Santander Consumer USA, which purchases and services subprime car loans made by auto dealerships and other companies. Spain-based banking giant Banco Santander acquired the rest of Sovereign Bancorp it didn't already own in 2009.