BBVA Compass
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| Type | Subsidiary |
|---|---|
| Industry | Finance |
| Founded | 1964 |
| Headquarters | Daniel Building Birmingham, Alabama, USA |
| Products | Financial Services |
| Revenue |  US$ 3.4 Billion (2010) |
| Employees | 11,647 |
| Parent | BBVA |
| Website | http://www.bbvacompass.com/ |
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 Friday, September 7th, 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 by creating the largest financial institution 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 an 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 gives BBVA Compass a first-time presence in California and expands an existing presence in Texas.[1] BBVA is further expanding its regional presence with BBVA Compass Plaza, a 312,000 square foot office building in Houston, which will be finished in 2013. [2]
BBVA Compass is the title sponsor of the BBVA Compass Bowl, a college football bowl game played annually in Birmingham.
References [edit]
- ^ "BBVA Compass buys failed Guaranty Bank". San Francisco Business Times. August 21, 2009. Retrieved 2009-08-26.
- ^ "Houston Galleria office space market receives boost with BBVA Compass Plaza". TheSquareFoot. October 2, 2012.
External links [edit]
- BBVA Compass official site
- [1]
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