BBVA Compass

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BBVA Compass Bancshares, Inc.
Type Subsidiary
Industry Finance
Founded 1964
Headquarters Daniel Building
Birmingham, Alabama, USA
Products Financial Services
Revenue IncreaseUS$ 3.4 Billion (2010)
Employees 11,647
Parent BBVA
Website http://www.bbvacompass.com/
BBVA Compass branch, Austin, Texas

BBVA Compass Bancshares, Inc. (formerly Compass Bancshares) is a United States financial holding company headquartered in Birmingham, Alabama, with US $65 billion in assets[citation needed] and primarily located in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. BBVA Compass is one of the U.S.’s 25 largest banks with 716 branch locations,[citation needed] and was previously a member of the S&P 500 Index and the Dow Jones Select Dividend Index. The corporate headquarters are in the Daniel Building in downtown Birmingham, the city where also all of BBVA Compass's administrative and operational functions are located.[citation needed]

On February 16, 2007, Compass Bancshares announced that it would be acquired by Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain. The deal was completed on September 7, 2007, when Compass Bancshares became a wholly owned subsidiary of BBVA and was renamed BBVA Compass. The transaction gave BBVA a substantial stakehold in the US banking sector and placed it among the largest financial institutions in the Sun Belt region. BBVA plans to integrate banks previously acquired in the US with the current Compass technology and management platforms.[citation needed]

On August 21, 2009, in a Federal Deposit Insurance Corporation-supervised transaction, BBVA Compass acquired the deposits and other core assets of the failed Guaranty Bank of Austin, Texas. The deal gave BBVA Compass a first-time presence in California and expanded an existing presence in Texas.[1] BBVA further expanded its regional presence with BBVA Compass Plaza, a 312,000 square foot office building in Houston, which was officially opened on 13 June 2013.[2]

BBVA Compass is the title sponsor of the BBVA Compass Bowl, a college football bowl game played annually in Birmingham, and also holds naming rights to BBVA Compass Stadium, a soccer venue in Houston.

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