HOUSTON, March 11, 2014 /PRNewswire/ -- BBVA Compass plans to open its doors in new markets from coast to coast this year to introduce more commercial banking clients to the bank's loan products and services.
BBVA Compass has received approval to open loan production offices in Los Angeles, San Francisco, Seattle, Nashville, Tenn., and the North Carolina cities of Charlotte and Raleigh. Several of the offices are already open. Last year, BBVA Compass added to nearly a dozen established loan production operations by opening offices in New York, Washington, D.C., and Tampa, Fla.
"Our new loan production offices are allowing us to build our bank beyond our Sunbelt footprint," said Rafael Bustillo, head of Commercial Banking for BBVA Compass. "We have strategically selected cities where we see growth potential for BBVA Compass."
The new loan production offices — not to be confused with retail branches — will tailor offerings to each market and provide an array of commercial banking products and services. These include commercial real estate lending, working capital, equipment finance and international trade services.
Client relationships will be handled locally by bankers knowledgeable about the needs of area businesses, including automobile dealers, food franchises, governments, international trade firms and health care providers, among others. Several of the offices will also provide certain domestic and international wealth management products and services such as financial planning and investment solutions.
BBVA Compass is a wholly owned subsidiary of BBVA and these new loan production offices will tap into the global synergies of the financial services group, which operates in 30 countries.
"Our new offices will be led by local bankers who know the market well and can offer BBVA Compass' full array of commercial banking loan products and services," Bustillo said. "Our relationship with BBVA also means bankers can deliver international expertise as well. We're eager to help our clients in these markets grow both domestically and internationally."
About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 685 branches, including 350 in Texas, 90 in Alabama, 78 in Arizona, 64 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration and was recently awarded the 2013 Celent Model Bank Award for its new core banking platform. Additional information about BBVA Compass can be found at www.bbvacompass.com.
BBVA Compass is a trade name of Compass Bank.
SOURCE BBVA Compass