BBVA Compass Bank Quick Stats

Type – Subsidiary
Founded – 1964
Headquarters – Birmingham, Alabama, USA
Industry – Finance
Products – Financial Services
Revenue – +$4.0 Billion USD (2008)
Owner(s) – Banco Bilbao Vizcaya Argentaria (BBVA)
Employees – 8,808
Website – bbvacompass.com

Recent History

BBVA Compass was founded in 1964 and is one of the nation’s 25 largest banks, and was previously a member of the S&P 500 Index and the Dow Jones Select Dividend Index. The corporate headquarters are located in the Daniel Building in downtown Birmingham.

On February 16, 2007, Compass 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. 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. (BBVA compass online banking)

On August 21, 2009, in an FDIC-supervised transaction, BBVA Compass acquired the deposits and other core assets of the failed Guaranty Bank of Austin, Texas. This deal gives BBVA a first-time presence in California and expands an existing presence in Texas.