BBVA Compass is a United States financial holding company headquartered in Birmingham

Birmingham, Alabama

Birmingham is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area, in estimate by the U.S...

, Alabama

Alabama

Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland...

, with US$65 billion in assets and primarily located in Alabama

Alabama

Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland...

, Arizona

Arizona

Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...

, California

California

California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...

, Colorado

Colorado

Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...

, Florida

Florida

Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...

, New Mexico

New Mexico

New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...

, and Texas

Texas

Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...

. Compass Bancshares is one of the U.S.’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 in the Daniel Building

Daniel Building

The Daniel Building is a 20 story, 238 foot office building located in downtown Birmingham, Alabama. Built in 1970, the building originally served as a regional office for the engineering and construction company Daniel International...

 in downtown Birmingham. Birmingham is also the location of all BBVA Compass's administrative and operational functions.

On February 16, 2007, Compass announced that it would be acquired by Banco Bilbao Vizcaya Argentaria

Banco Bilbao Vizcaya Argentaria

Banco Bilbao Vizcaya Argentaria, S.A. is a multinational Spanish banking group. It was formed in 1999 from the merger of Banco Bilbao Vizcaya and Argentaria, both of which in turn had previously amalgamated three important banks in Spain, namely Banco de Bilbao, Banco de Vizcaya, Banco Exterior de...

 (BBVA), the second largest bank in Spain

Spain

Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...

. 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

Sun Belt

The Sun Belt or Spanish Belt is a region of the United States generally considered to stretch across the South and Southwest . Another rough boundary of the region is the area south of the 36th parallel, north latitude. It is the largest region which the U.S government does not recognize officially...

 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

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...

-supervised transaction, BBVA Compass acquired the deposits and other core assets of the failed Guaranty Bank

Guaranty Bank

Guaranty Bank was a major bank based in Austin, which collapsed in 2009.Formed in 1988 and part of Temple-Inland until 2007 when it was spun off as a standalone company, Guaranty was the second largest bank in Texas, with 162 branches across Texas and California, and at the time of its failure had...

 of Austin, Texas

Austin, Texas

Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...

. The deal gives BBVA Compass a first-time presence in California

California

California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...

and expands an existing presence in Texas.

External links

• BBVA Compass official site