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Birmingham, Alabama, USA
|Revenue||US$ 3.4 Billion (2010)|
BBVA Compass Bancshares, Inc. (formerly Compass Bancshares) is a United States financial holding company headquartered in Birmingham, Alabama, with US $65 billion in assets 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, 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.
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.
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. 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.
In July, 2012, BBVA Compass agreed to pay $11.5 million to settle a lawsuit accusing the bank of improperly manipulating customers’ checking-account transactions to generate excess overdraft fees, according to a court filing.
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.
- "BBVA Compass buys failed Guaranty Bank". San Francisco Business Times. August 21, 2009. Retrieved 2009-08-26.
- "Business and political leaders gather for public unveiling of BBVA Compass Plaza". The Sacramento Bee. June 13, 2013.
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