BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group. BBVA USA Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary, BBVA, operates 649 branches, including 336 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 in New Mexico. Its lending portfolio comprises small business lines of credit, business term loans, commercial real estate loans, and debt. Following the acquisition, Compass Bank was renamed BBVA Compass. BBVA (formerly BBVA Compass) is a full-service bank offering a wide range of products, from online checking accounts with no monthly Service Charges, to savings, MMA, and CD accounts to meet your financial needs. The first branch in New York is established. It then became BBVA Compass Bank in 2007 when it was acquired by Banco Bilboa Vizcaya Argentaria, the second-largest bank in Spain. Central’s expansion into high-growth markets begins when it becomes the first out-of-state bank holding company to enter Texas. Now it is just BBVA. Central reaches an important milestone—surpassing $1 billion in total assets. “Iberdrola was our least strategic stake. PNC Bank’s acquisition of BBVA USA Bancshares will have a large impact on the Birmingham banking scene. It has been a subsidiary of the Spanish multinational Banco Bilbao Vizcaya Argentaria since 2007 and operates chiefly in Alabama, Arizona, California, Colorado, Florida, … Chairman Francisco Gonzalez wouldn't say whether BBVA might sell other holdings, which include 6 percent of Telefonica TEF.MC. Compass expands customer service delivery channels through the addition of Online Banking and the opening of a telephone banking center. BBVA Compass Bancshares, Inc. Compass Bancshares is a wholly‐owned subsidiary of BBVA and a bank holding company incorporated in the State of Texas with its principal place of business in Houston, Texas. BBVA believes that high immigration levels and the prospect of U.S. cost cuts justified Compass’ purchase price, a person familiar with the matter said. From our founding, few could have predicted the path of our growth over the next 50 years. Spain-based BBVA Group owns nearly 40 percent of Garanti. The latter compares with a 13.9 multiple for the S&P Regional Banks Index, To help fund the Compass purchase, BBVA is selling its 5 percent stake in utility Iberdrola. MADRID/NEW YORK (Reuters) - Banco Bilbao Vizcaya Argentaria SA BBVA.MC, Spain's second-largest bank, agreed to buy Compass Bancshares Inc. CBSS.O for $9.6 billion, realizing a long-held goal of gaining a solid foothold in fast-growing southern U.S. states. Onur Genç succeeds Carlos Torres Vila as Group CEO. Established in 1964, BBVA USA Bank (formerly BBVA Compass) is headquartered in Birmingham, Alabama. BBVA's operational headquarters are located in Madrid, in the "Ciudad BBVA" complex.It is Spain's second largest bank after Banco Santander.It is listed on the Madrid Stock Exchange, the New York Stock Exchange and on the Mexican Stock Exchange.It is also a part of the IBEX 35 as well as the … BBVA names Javier Rodriguez Soler as Country Manager and CEO for BBVA in the USA. Yet analysts have long considered Compass an attractive takeover target because of the rapid growth in areas where it operates, including Texas and other states with big Hispanic populations. MONTGOMERY, Ala. (AP) - Compass Bancshares Inc. said Friday it is being purchased by Banco Bilbao Vizcaya Argentaria S.A., in a $9.6 billion cash and stock deal that strengthens the Spanish company's foothold in Texas … The purchase would triple BBVA’s U.S. base to 622 branches, including 33 in California. Microsoft's support for your web browser ended on January 12, 2016. D. Paul Jones Jr. will continue to run Compass. The transaction is expected to close in the second half of 2007. Javelin Strategy & Research as a Leader in its 2019 Mobile and Online Banking awards. Shareholders of Birmingham, Alabama-based Compass will receive $71.82 in cash or 2.8 BBVA American Depository Shares. Compass shares rose $4.04, or 6.1 percent, to $70.41 in afternoon trading on the Nasdaq. Sandler O’Neill & Partners LP and the law firms Balch & Bingham LLP and Wachtell, Lipton, Rosen & Katz advised Compass on the transaction. Central Bank acquires State National Bank to form what will later be named Central Bancshares of the South, Inc., the state’s second multibank holding company. Compass continues its high-growth expansion through the addition of two new Western markets—Colorado and New Mexico. BBVA is recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranks 6th nationally in the total number of SBA loans originated in fiscal year 2015. Telefonica is the most strategic, although that does not mean 100 percent strategic,” Gonzalez said at a news conference. Harry B. Brock Jr. established the bank in Birmingham, Alabama in 1964. “It was an absolutely unique franchise, a leader in high-growth markets in the United States,” said Jose Ignacio Goirigolzarri, BBVA’s No. Within six months, Compass acquires 15 banking centers—primarily in Phoenix—to form the state’s fourth largest bank. MADRID/NEW YORK (Reuters) - Banco Bilbao Vizcaya Argentaria SA. “There’s an awful lot of operating leverage to be gained, if you will,” he said. The bank plans no more U.S. acquisitions until it absorbs Compass, the person said. Headquartered in Birmingham, Alabama, it operates more than 600 branches throughout Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. All quotes delayed a minimum of 15 minutes. BBVA last year paid $2.64 billion for two Texas banks, McAllen’s Texas Regional Bancshares Inc. and Fort Worth’s State National Bancshares Inc. Our Standards: The Thomson Reuters Trust Principles. Our challenges have been great; our achievements notable. Last year, the bank carried out a surprise 3 billion euro capital increase to strengthen its balance sheet following U.S. and Chinese acquisitions. Central merges ten of its affiliate banks to form the first statewide bank and largest bank in Alabama. Customers soon discovered we were different, better. Compass celebrates its 40th anniversary by being added to the S&P 500 Index and the Dow Jones Select Dividend Index. Compass enters its fourth Sunbelt market—Arizona—with the acquisition of Tucson-based Arizona Bank, the largest independent bank in the state. At the same time, our team was also working together, hand-in-hand, on Simple’s most significant project to date: a complete rebuild of our ‘banking backend’ in preparation for opening new accounts supported by BBVA Compass (BBVAC), our parent company BBVA’s U.S. arm. The repositioning strategy that began in 1987 transforms an Alabama bank into a Southwestern franchise with more than two-thirds of its deposits and banking centers outside of its home state. Shareholders of Birmingham, Alabama-based Compass will receive $71.82 in cash or 2.8 BBVA American Depository Shares BBV.N for each share. Morgan Stanley and the law firm Cleary Gottlieb Steen & Hamilton LLP advised BBVA. Contact Bbva Compass Bank customer service. It is not clear what role — if any — the company's performance played in the executive shuffle. BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of the global financial services group BBVA. It is the first new bank to open in Birmingham in almost 20 years. BBVA Bank was founded in 1964 as Central Bank and Trust Company of Birmingham Alabama. Following the 10th consecutive year of record earnings, Compass is named to the Keefe, Bruyette & Woods, Inc. “Honor Roll” as one of the best performing banks over the past 10 years. According to BhamWiki, BBVA bought out the Birmingham-based Compass Bancshares in 2007, a company which can be traced back to the incorporation of Central Bank and Trust Company in 1963. In November, two other Birmingham banks merged, when Regions Financial Corp. RF.N paid about $10 billion for AmSouth Bancorp Inc. Analysts estimated that BBVA paid 3.3 to 3.4 times book value and 19 times expected 2007 profit for Compass. In a more important measure of success, the company’s market capitalization exceeds $1 billion. BBVA shares closed 0.5% lower on concern that it might be paying too much, offering a 16% premium over … Central pioneers two new services—HandyBank and HandyCheck—. Chairman Francisco Gonzalez wouldn't say whether BBVA might sell other holdings, which include 6 percent of Telefonica. banking, corporate and investment banking, and treasury segments. “Nothing about buying a foreclosed home is similar to buying a typical home, except maybe the preapproval process,” he said. Other banks with major Texas branch presences include Bank of America Corp. Central’s expansion continues with its initial foray into the Florida market. And through it all, our willingness to serve customers in ways unfamiliar to traditional banks has fueled a remarkable trajectory of growth in assets and earnings. Compass would become the bank’s largest foreign purchase. Due to scheduled system maintenance, some services may be temporarily unavailable in Online and Mobile Banking this Sunday, January 24 from 12:00 a.m. until 2:30 a.m. CT. Focus on expansion and diversification of its fee-based businesses accelerates as Compass acquires three insurance agencies within its footprint—Dallas, Denver, and Phoenix—and a wealth management firm in Jacksonville. “BBVA is paying a lot,” wrote CreditSights Inc. analyst John Raymond. "BBVA is a global financial group that can tap the world's best talent and Onur is a clear example of that," Sánchez said in a news release. Other banks with major Texas branch presences include Bank of America Corp. BAC.N and JPMorgan Chase & Co. JPM.N. BBVA has been making acquisitions in the southern United States to diversify its business and benefit from cross-border money flows with Mexico, where it owns top lender Bancomer. … In awarding BBVA Compass a spot on the list, DiversityInc pointed to the following: • The makeup of the bank’s senior leadership ranks: The percentage of minorities (blacks, Latinos and Asians) in BBVA Compass’ senior leadership is higher than the average among the Top 50 companies by 88.4 percent, or nearly double the Top 50 average. BBVA Chairman Francisco Gonzalez at a news conference at the company's headquarters in Madrid, January 31, 2007. About BBVA Bank. The bank is a wholly-owned subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA). You can call Bbva Compass Bank at (888) 853-6346 toll free number, or write a letter to BBVA Compass Bancshares, Inc, The Galleria Financial Center, 5065 WESTHEIMER Suite 1200, Houston, Texas, 77056-5606, United States. That represents a 16.3 percent premium over Compass’ closing price on Wednesday, before takeover speculation caused a 7.4 percent surge on Thursday. Between the years 2004 and 2014, BBVA acquired several banks in the US, including Compass in 2007. BBVA will issue about 196 million shares, and pay $4.6 billion in cash. Following the acquisition, Compass Bank was renamed BBVA Compass. BBVA Chairman Francisco Gonzalez at a news conference at the company's headquarters in Madrid, January 31, 2007. In 2005, it bought Laredo National Bancshares Inc. for $850 million. The purchase will increase BBVA’s capital level by 5.5 percent. BBVA shares fell 48 cents to 19.49 euros in Madrid. On a conference call, he said Compass will keep its name and Birmingham headquarters, and said cost savings of about 7.1 percent will include some job cuts. In order to minimize disruption to our customers, we schedule maintenance at times during which these systems are least likely to be used. It serves as the U.S. bank holding company for BBVA and is the owner of the Bank and BBVA Securities Inc. (“BSI”). One investor said BBVA had wrong-footed the market. Compass Bancshares became a wholly-owned subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain. Manolo Sánchez retires as Non-Executive Chairman of BBVA Compass board of directors; longtime director Terry Strange steps into role. “(Still), the deal makes strategic sense, given BBVA’s well-flagged desire to continue adding to the franchise it has been expanding across neighboring territories.”. The bank announced last week that its CEO of the past eight years, Manolo Sanchez, will shift to a new role of nonexecutive chairman. It has about 107,000 employees, about 47 million customers worldwide and about 1 million shareholders. BBVA is known for its strong online presence, excellent customer service, and user-friendly mobile app. Central Bank opens its doors on March 2, 1964. BBVA Compass offers a full range of retail banking, commercial banking and wealth management services. With over 600 locations across the U.S. and great user experience, BBVA is a reputable bank to consider. We shook up the banking establishment by introducing all-day banking and becoming. 2009. NEW YORK (Reuters) - Azlo, a U.S. digital banking startup that is majority-owned by Banco Bilbao Vizcaya Argentaria S.A. BBVA.MC, will open for business this week, marking the … To help fund the Compass purchase, BBVA is selling its 5 percent stake in utility Iberdrola IBE.MC, and expects to realize an 844 million euro capital gain. It’s been an exciting ride. Bottom line. How could the bank We were more innovative, more willing to serve people in ways that other banks wouldn’t. Moody’s Investors Service, Standard & Poor’s and Fitch Ratings affirmed BBVA’s and may raise Compass’ credit ratings. How old is BBVA Compass? , and expects to realize an 844 million euro capital gain. Who We Are. “Introducing the BBVA Compass brand and successfully integrating the four banks into Compass’ operating systems and product … 2 executive, on a Webcast. BBVA launches its first iPhone app. It has $34.2 billion of assets and operates 415 branches, including 162 in Texas and 253 in Alabama, Arizona, Colorado, Florida and New Mexico. © 2021 BBVA USA Bancshares, Inc. BBVA USA is a Member FDIC and an Equal Housing Lender. Compass introduces “Just a little better,” a brand position that embodies the beliefs on which the company was founded. BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). See reviews below to learn more or submit your own review. Central changes its name to Compass to reflect the growing diversity of the franchise. BBVA Compass. , Spain's second-largest bank, agreed to buy Compass Bancshares Inc. for $9.6 billion, realizing a long-held goal of gaining a solid foothold in fast-growing southern U.S. states. BBVA was founded in 1964, and is headquartered in Birmingham, Alabama. At BBVA, we value your business and apologize for any inconvenience that you may experience during this maintenance period. BBVA Compass Bank is the U.S. banking subsidiary for Banco Bilbao Vizcaya Argentaria S.A. (BBVA). BBVA Compass (Compass Bank) is a US commercial bank that operates through the Sunbelt Region of United States. See here for a complete list of exchanges and delays. BBVA Compass was founded in 1964. BBVA will merge the other three banks with Compass, and expects U.S. banking to contribute 10 percent to total profit. In this photo illustration, a Google logo is displayed on a smartphone. Compass Bancshares became a wholly-owned subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain. BBVA has agreed to buy U.S. bank Compass Bancshares Inc. for $9.6 billion, the Spanish bank said on Friday, realizing a long-held ambition to gain a firm footing in the United States. After a series of mergers, the bank became Compass in the early 1990s. The bank was founded as Banco de Bilbao, on May 28, 1857, in Bilbao. Compass would receive this honor in each of the years following including 2004. BBVA will work best for smaller deposits, particularly on the Money Market Account and the 12-month CD. BBVA Compass, the Houston area's fourth-largest bank in terms of deposits, named a new chief executive Wednesday. According to Bradshaw, BBVA was interested in merging with Compass in order for Compass to run three banks BBVA owns in the Western United States — Texas State Bank, Laredo National Bank and State National Bank. Compass Bank is a subsidiary of Compass Bancshares, Inc., which is a wholly owned subsidiary of BBVA. The BBVA Mobile Banking app was also recognized by Javelin Strategy & Research in 2014 for leading the industry in innovative mobile technology and in 2013 for Best in Mobile Functionality Award. BBVA Stadium (formerly BBVA Compass Stadium) is an American multi-purpose stadium located in Houston, Texas that is home to the Houston Dynamo FC, a Major League Soccer club, the Houston Dash of the National Women's Soccer League, and to Texas Southern Tigers football.The stadium is the result of combined commitments of $35.5 million from the city of Houston and … Banco Bilbao Vizcaya Argentaria ( BBVA ) is a bank Spanish with interests in financial institutions in over thirty countries. BBVA Compass Director of Mortgage and Home Equity Originations Jose Pascual says that buyers could find the deal of a lifetime, but people tend to be surprised by the effort it takes. In November, two other Birmingham banks merged, when Regions Financial Corp. paid about $10 billion for AmSouth Bancorp Inc. Analysts estimated that BBVA paid 3.3 to 3.4 times book value and 19 times expected 2007 profit for Compass. It is a subsidiary of Compass Bancshares, Inc., which is a wholly owned subsidiary of BBVA (Banco Bilbao Vizcaya Argentaria , … Compass Bank BBVA was named the Best Digital Bank in North America by global finance magazine. On March 2, 1964, we opened our first branch in Birmingham, Alabama as Central Bank & Trust Company. “Plenty of hedge funds (are) unwinding positions in BBVA because they saw the bank as a target,” said Javier Galan, a fund manager at Renta 4 brokerage. Colorado, Florida, New Mexico and Texas. Forbes names Compass as one of the best-managed companies in America for the sixth consecutive year. BBVA Compass Bank is a wholly owned subsidiary of BBVA, a global financial company with operations in Spain, Mexico and South America. It even has a free checking account, which is unusual for brick-and-mortar banks. This company is not yet accredited. The BBVA Mobile Banking app earned the 2016 Javelin Mobile Banking Leader award for functionality for the third consecutive year in Javelin Strategy & Research's Mobile Banking Financial Institution Scorecard. For a time, BBVA went by BBVA Compass. Total assets in Texas exceed $1 billion. Business challenge Strong growth and acquisitions left BBVA Compass with over 2.5 PB of data of disparate structures and little insight into it. It has nearly 650 branches spread across 7 southern states. REUTERS/Sergio Perez. BBVA Compass Bank in fact did take ownership of the property on April 17, 2013 at 10:00 a.m. and forced the viable and popular Inspirador business to CLOSE unnecessarily. Total assets surpass $10 billion. BBVA is a customer-centric global financial services group founded in 1857. BBVA announces unified global brand and logo update. She was making regular monthly payments of $12,850 and had paid more than $650,000 in principal and interest and $510,000 of her families life savings — all in good faith. To continue to use our online services, you must upgrade to a current version of Google ChromeTM, Mozilla Firefox® or Microsoft Internet Explorer®. BBVA USA (formerly BBVA Compass) is a bank holding company headquartered in Birmingham, Alabama. BBVA Compass Bank is one of the largest US commercial banks in the country. The latter compares with a 13.9 multiple for the S&P Regional Banks Index .GSPBNKS. Taking his place will be Onur Genc, deputy CEO of Garanti Bank, a Turkish bank BBVA partially owns. BBVA USA, formerly BBVA Compass, has announced that it is . Compass Bank has branches across the southern US states Spain's BBVA has agreed to buy US bank Compass Bancshares for $9.6bn (£4.9bn). 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