BBVA Compass

BBVA Compass Bancshares, Inc.

Type	Subsidiary
Industry	Finance
Founded	1964
Headquarters	Daniel Building Birmingham, Alabama, USA
Products	Financial Services
Revenue	US$ 3.4 Billion (2010)
Number of employees	11,647
Parent	BBVA
Website	https://www.bbvacompass.com/

BBVA Compass Bancshares, Inc. (formerly Compass Bancshares) is a United States-based financial holding company headquartered in Birmingham, Alabama. It has been a subsidiary of the Spanish multinational Banco Bilbao Vizcaya Argentaria since 2007 and operates chiefly in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.

BBVA Compass is one of the U.S.’s 25 largest banks with 688 branch locations, and was previously a member of the S&P 500 Index and the Dow Jones Select Dividend Index. Ranked by its US$ 65 billion total assets, BBVA Compass Bancshares is the 34th largest bank in the United States. "BBVA Compass Bancshares, Inc is the corporate parent (headquartered in Houston, Texas), of Compass Bank, a commercial banking subsidiary doing business as BBVA Compass and headquartered in the Daniel Building in downtown Birmingham, Alabama.

On February 16, 2007, Compass Bancshares announced that it would be acquired by Banco Bilbao Vizcaya Argentaria (BBVA), then 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.