þ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, |
for the fiscal year ended December 31, 2010, |
o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, |
for the transition period from N/A to . |
Virginia | 23-2453088 | |
(State or other Jurisdiction | (I.R.S. Employer Identification No.) | |
of Incorporation or Organization) | ||
75 State Street, Boston, Massachusetts | 02109 | |
(Address of Principal Executive Offices) | (Zip Code) |
Title | Name of Exchange on Which Registered | |
Depository Shares for Series C non-cumulative preferred stock | NYSE | |
7.75% Capital Securities (Sovereign Capital Trust V) | NYSE |
Large accelerated filer o | Accelerated filer o | Non-accelerated filer þ | Smaller reporting company o |
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Item 15. | Exhibits and Financial Statement Schedules. |
| Consolidated Balance Sheets | ||
| Consolidated Statements of Operations | ||
| Consolidated Statements of Stockholders Equity | ||
| Consolidated Statements of Cash Flows | ||
| Notes to Consolidated Financial Statements |
(2.1 | ) | Transaction Agreement, dated as of October 13, 2008, between Santander Holdings USA, Inc.
and Banco Santander, S.A. (Incorporated by reference to Exhibit 2.1 to SHUSAs Current Report
on Form 8-K filed October 16, 2008) |
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(3.1 | ) | Amended and Restated Articles of Incorporation of Santander Holdings USA, Inc. (Incorporated
by reference to Exhibit 3.1 to SHUSAs Current Report on Form 8-K filed January 30, 2009) |
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(3.2 | ) | Articles of Amendment to the Articles of Incorporation of Santander Holdings USA, Inc.
(Incorporated by reference to Exhibit 3.1 to SHUSAs Current Report on Form 8-K filed March
27, 2009) |
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(3.3 | ) | Articles of Amendment to the Articles of Incorporation of Santander Holdings USA, Inc.
(Incorporated by reference to Exhibit 3.1 to SHUSAs Current Report on Form 8-K filed February
5, 2010) |
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(3.4 | ) | Amended
and Restated Bylaws of Santander Holdings USA, Inc., as amended and
restated on January 20, 2010 |
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(4.1 | ) | Santander Holdings USA, Inc. has certain debt obligations outstanding. None of the
instruments evidencing such debt authorizes an amount of securities in excess of 10% of the
total assets of Santander Holdings USA, Inc. and its subsidiaries on a consolidated basis;
therefore, copies of such instruments are not included as exhibits to this Annual Report on
Form 10-K. Santander Holdings USA, Inc. agrees to furnish copies to the SEC on request |
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(4.2 | ) | Fiscal Agency Agreement dated December 22, 2008 between Sovereign Bank and The Bank of New
York Mellon Trust Company, N.A., as fiscal agent (Incorporated by reference to Exhibit 4.1 to
SHUSAs Current Report on Form 8-K filed December 22, 2008) |
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(4.3 | ) | Fiscal Agency Agreement dated December 22, 2008 between Santander Holdings USA, Inc. and The
Bank of New York Mellon Trust Company, N.A., as fiscal agent (Incorporated by reference to
Exhibit 4.2 to SHUSAs Current Report on Form 8-K filed December 22, 2008) |
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(10.1 | ) | Commercial Paper Dealer Agreement between Santander Holdings USA, Inc. and Santander
Investment Securities Inc., dated as of July 15, 2010 (Incorporated by reference to Exhibit
10.1.1 to SHUSAs Current Report on Form 8-K filed July 21, 2010) |
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(16.1 | ) | Letter from Ernst & Young LLP, dated March 27, 2009 (Incorporated by reference to Exhibit
16.1 to SHUSAs Current Report on Form 8-K filed March 27, 2009) |
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(16.2 | ) | Letter from Ernst & Young, dated April 9, 2009 (Incorporated by reference to Exhibit 16.1 to
SHUSAs Current Report on Form 8-K filed April 9, 2009) |
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*(21 | ) | Subsidiaries of Registrant |
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*(23.1 | ) | Consent of Ernst & Young LLP |
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*(23.2 | ) | Consent of Deloitte & Touche LLP |
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(31.1 | ) | Chief Executive Officer certification pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Exchange Act |
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(31.2 | ) | Chief Financial Officer certification pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Exchange Act |
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(32.1 | ) | Chief Executive Officer certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
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(32.2 | ) | Chief Financial Officer certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
* | Previously filed with the registrants Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 10, 2011 |
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SANTANDER HOLDINGS USA, INC. (Registrant) |
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By: | /s/ Jorge Morán | |||
Name: | Jorge Morán | |||
Title: | President, Chief Executive Officer |
Signature | Title | Date | ||
/s/ Jorge Morán |
President Chief Executive Officer (Principal Executive Officer) |
March 14, 2011 | ||
/s/ Guillermo Sabater |
Senior Executive Vice President Chief Financial Officer |
March 14, 2011 | ||
Chief Administration Officer | ||||
(Principal Financial Officer) | ||||
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1. | I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K/A of Santander Holdings USA, Inc.; | ||
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | ||
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | ||
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and | ||
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | ||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Jorge Morán | ||||
Name: | Jorge Morán | |||
Title: | Chief Executive Officer | |||
1. | I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K/A of Santander Holdings USA, Inc.; | ||
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | ||
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | ||
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13)-15(f) and 15d-15(f)) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and | ||
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | ||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Guillermo Sabater | ||||
Name: | Guillermo Sabater | |||
Title: | Chief Financial Officer | |||
(1) | the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and | ||
(2) | the information contained in the Report fairly presents, in all in material respects, the financial condition and results of operations of the Company. |
/s/ Jorge Morán | ||||
Name: | Jorge Morán | |||
Title: | Chief Executive Officer | |||
(1) | the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and | ||
(2) | the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ Guillermo Sabater | ||||
Name: | Guillermo Sabater | |||
Title: | Chief Financial Officer | |||