BBVA Compass reports earnings of $402 million for the first nine months of 2015, up 10 percent

Total revenue increases 5 percent in third quarter of 2015

- Total loans end the quarter at $60.9 billion, up 10 percent from prior year levels

- Total deposits increase 7 percent to $64.5 billion, fueled by a 12 percent increase in noninterest bearing deposits

- Strong business activity drives 4 percent increase in total revenue; revenue growth in third quarter balanced as both net interest income and noninterest income increase 5 percent

- Focus on driving efficiencies and disciplined expense management result in 1 percent decline in noninterest expenses

- Credit quality metrics at historical lows; net charge-off ratio at 18 basis points, nonperforming loan ratio at 75 basis points and coverage ratio strong at 159 percent

30 Oct, 2015, 09:30 ET from BBVA Compass Bancshares, Inc.

HOUSTON, Oct. 30, 2015 /PRNewswire/ -- BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $402 million for the first nine months of 2015, a 10 percent increase compared to $364 million earned during the first nine months of 2014. Return on average assets and return on average tangible equity1 for the first nine months of 2015 were 0.62 percent and 7.64 percent, respectively.

Net income attributable to shareholder for the third quarter of 2015 was $125 million compared to the $143 million earned during the third quarter of 2014. Return on average assets and return on average tangible equity1 for the third quarter of 2015 were 0.56 percent and 6.96 percent, respectively.

"Our strong business activity allowed us to deliver solid revenue growth despite the continued challenging, low interest rate environment," said Manolo Sanchez, chairman and CEO of BBVA Compass. "Total loans increased 10 percent and we have funded more than $13.3 billion in new loans to our customers so far this year. At the same time, total deposits increased 7 percent, fueled by a 12 percent increase in noninterest bearing demand deposits."

"This level of activity also reflects our commitment to be at the forefront of the digital change sweeping the banking industry," Sanchez said. "We've been able to quickly adapt our products and services to meet our customers' changing needs due to our real-time platform and our work with digital disruptors."

Total revenue increased 4 percent as both net interest income and noninterest income posted positive results. Net interest income increased 2 percent from prior year levels while income from fee-based businesses grew 7 percent. Revenue growth in the third quarter of 2015 was more balanced as both net interest income and noninterest income grew at 5 percent. Expense growth was well contained as improved efficiencies and disciplined expense management resulted in a 1 percent decrease in total noninterest expenses.

Sanchez noted that while balance sheet growth was robust, credit quality metrics continue to measure at historical lows. Net charge-offs as a percentage of average loans were 18 basis points for the first nine months of 2015, while the ratio of nonperforming loans to total loans at 75 basis points improved from both second quarter 2015 and third quarter 2014 levels. The coverage ratio that measures the amount of reserves to nonperforming loans remains strong at 159 percent.

"Our entire organization is committed to maintaining sound underwriting standards and a strong risk profile," Sanchez said. "Importantly, each of our loan portfolios continue to perform well and within our expectations, including our energy portfolio. The prolonged period of low energy prices has, as expected, resulted in some modest, negative migration within internal classifications. But at this point we have not seen any deterioration that gives us undue concern and we remain comfortable with this conservatively underwritten and well-collateralized portfolio."

Total shareholder's equity ended the third quarter of 2015 at $12.4 billion, a 4 percent increase from $11.9 billion at the end of the third quarter of 2014. Each of the company's regulatory capital ratios remain significantly above "well-capitalized" guidelines.

During the third quarter, BBVA Compass debuted the BBVA Compass ClearSpend prepaid Visa® debit card in response to the increasing use of prepaid debit cards across all ages and income levels. The card comes with a mobile budgeting app to give users better control of their financial lives. Real-time in-app mobile alerts contain information on transaction amounts and locations, current balances and category budgeting trends.

BBVA Compass also announced its new BBVA Compass Community Advisory Board. Made up of 19 community leaders from across the BBVA Compass franchise, as well as national leaders, the board is designed to help steer the bank's efforts to better serve low-to moderate-income individuals and neighborhoods, and strengthen its community development programs.

1 Average tangible equity is a non-GAAP financial measure that we believe aids in understanding certain areas of our performance. The calculation of this measure is included on the page titled Non-GAAP Reconciliation.

About BBVA Compass
BBVA Compass Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary, BBVA Compass, operates 672 branches, including 341 in Texas, 89 in Alabama, 77 in Arizona, 62 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 (4th). BBVA Compass' mobile app recently earned the Mobile Banking Leader in Functionality Award for the second consecutive year in the Javelin Strategy & Research's Mobile Banking Financial Institution Scorecard. Additional information about BBVA Compass can be found under the Investor Relations tab at bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com

About BBVA Group
BBVA Compass Bancshares, Inc. is 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 the best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at bbva.com.

On April 15, 2015, BBVA filed its annual report on Form 20-F for the year ended December 31, 2014, with the Securities and Exchange Commission. A copy can be accessed on the BBVA website at http://shareholdersandinvestors.bbva.com/TLBB/tlbb/bbvair/ing/share/adrs/index.jsp. Holders of BBVA's American Depositary Receipts (ADRs) may request a hard copy of the Form 20-F for the year ended December 31, 2014, including its complete audited financial statements, free of charge. To request a copy, contact Ed Bilek at ed.bilek@bbva.com.

Forward-Looking Statements Certain statements in this press release may contain forward-looking statements about BBVA Compass Bancshares, Inc. (the "Company") and its industry that involve substantial risks and uncertainties. The use of "we," "our" and similar terms refer to the Company. Statements other than statements of current or historical fact, including statements regarding our future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to the Company, constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect the Company's views regarding future events and financial performance. Such statements are subject to risks, uncertainties, assumptions and other important factors, many of which may be beyond the Company's control, that could cause actual results to differ materially from anticipated results. If the Company's assumptions and estimates are incorrect, or if the Company becomes subject to significant limitations as the result of litigation or regulatory action, then the Company's actual results could vary materially from those expressed or implied in these forward-looking statements. The forward-looking statements are and will be based on the Company's then current views and assumptions regarding future events and speak only as of their dates made. The Company assumes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by securities law or regulation. For further information regarding risks and uncertainties associated with the Company's business, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 11, 2015, as updated by our subsequent SEC filings.

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in thousands)

Three Months Ended September 30,

%

Nine Months Ended September 30,

%

2015

2014

 Change 

2015

2014

 Change 

EARNINGS SUMMARY

Net interest income

$       507,867

$       481,968

5

$    1,508,878

$    1,476,041

2

Noninterest income [a]

226,640

216,578

5

680,366

633,911

7

Total revenue [a]

734,507

698,546

5

2,189,244

2,109,952

4

Investment securities gain, net

6,736

9,710

(31)

66,967

47,608

41

Gain (loss) on prepayment of FHLB advances

143

 NM 

(6,118)

(315)

 NM 

Provision for loan losses

29,151

3,869

653

117,331

86,387

36

Noninterest expense

536,250

533,142

1

1,578,605

1,597,271

(1)

Pretax income

175,842

171,388

3

554,157

473,587

17

Income tax expense

50,110

27,770

80

150,008

107,467

40

Net income

125,732

143,618

(12)

404,149

366,120

10

Net income attributable to noncontrolling interests

491

815

(40)

1,738

1,772

(2)

Net income attributable to shareholder

$       125,241

$       142,803

(12)

$       402,411

$       364,348

10

SELECTED RATIOS

Return on average assets

0.56 %

0.73 %

0.62 %

0.65 %

Return on average tangible equity [b]

6.96

8.48

7.64

7.41

Average common equity to average assets

13.72

15.30

13.95

15.56

Average loans to average total deposits

94.72

92.75

94.93

93.49

Common equity tier 1 capital (CET1) [c]

10.68

 NA 

10.68

 NA 

Tier I capital ratio [c]

10.75

11.25

10.75

11.25

Total capital ratio [c]

13.39

13.30

13.39

13.30

Leverage ratio [c]

8.69

9.58

8.69

9.58

Average for Three Months

Average for Nine Months

Ending Balance

Ended September 30,

%

Ended September 30,

%

September 30,

%

2015

2014

 Change 

2015

2014

 Change 

2015

2014

 Change 

BALANCE SHEET HIGHLIGHTS

Total loans

$  60,632,304

$  55,349,649

10

$  59,737,187

$  53,751,488

11

$  60,921,379

$  55,200,115

10

Total investment securities

11,883,785

10,593,570

12

11,604,103

10,378,884

12

12,161,461

10,744,398

13

Earning assets

77,366,246

66,142,913

17

75,721,921

64,268,874

18

77,534,173

66,503,180

17

Total assets

89,761,730

77,909,087

15

87,588,735

75,774,391

16

89,360,000

79,192,189

13

Noninterest bearing demand deposits

19,311,966

17,039,477

13

18,749,621

16,349,912

15

19,060,016

16,979,235

12

Interest bearing transaction accounts

31,364,714

29,558,841

6

31,172,051

28,290,142

10

31,813,690

30,283,451

5

Total transaction accounts

50,676,680

46,598,318

9

49,921,672

44,640,054

12

50,873,706

47,262,686

8

Total deposits

64,012,429

59,675,681

7

62,925,579

57,494,671

9

64,492,396

60,270,958

7

Shareholder's equity

12,317,150

11,917,267

3

12,222,970

11,786,754

4

12,380,335

11,927,053

4

[a]  Excludes net gain on sales of investment securities and gain (loss) on prepayment of FHLB advances.

[b]  Non-GAAP measure that we believe aids in understanding certain areas of our performance.  The calculation of this measure is included on the page titled Non-GAAP Reconciliation.

[c]  Current period regulatory capital ratios are estimated.  Figures for 2015 calculated using the applicable Transitional Basel III regulatory capital methodology.  Figures for 2014 calculated using the applicable Basel I regulatory capital methodology in place at that time.

NM = Not meaningful

NA = Not applicable

 

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

2015

2014

September 30

June 30

March 31

December 31

September 30

NONPERFORMING ASSETS

Nonaccrual loans [b]

$      380,930

$  395,350

$  357,539

$     322,654

$      344,937

Loans 90 days or more past due [a]

73,588

69,710

70,750

71,454

76,196

TDRs 90 days or more past due

678

1,224

820

1,722

991

Total nonperforming loans [b]

455,196

466,284

429,109

395,830

422,124

Other real estate owned, net (OREO)

23,762

20,188

17,764

20,600

17,058

Other repossessed assets

3,331

4,255

3,823

3,920

3,618

Total nonperforming assets

$      482,289

$  490,727

$  450,696

$     420,350

$      442,800

TDRs accruing and past due less than 90 days

$      154,397

$  155,592

$  157,252

$     161,261

$      170,789

Covered loans [c]

458,066

473,842

488,560

495,190

580,756

Covered nonperforming loans [c]

43,192

44,664

45,581

48,071

56,221

Covered nonperforming assets [c]

45,569

47,085

47,598

51,989

59,609

Total nonperforming loans as a % of loans

0.75 %

0.77 %

0.73 %

0.69 %

0.76 %

Total nonperforming loans as a % of loans, excluding covered loans

0.68

0.71

0.66

0.61

0.67

Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets

0.79

0.81

0.77

0.73

0.80

Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets, excluding covered assets

0.72

0.74

0.69

0.65

0.70

Three Months Ended

2015

2014

September 30

June 30

March 31

December 31

September 30

ALLOWANCE FOR LOAN LOSSES

Balance at beginning of period

$      721,471

$  701,864

$  685,041

$     695,878

$      714,760

Net charge-offs (NCO)

28,500

26,542

25,208

30,751

22,751

Provision for loan losses

29,151

46,149

42,031

19,914

3,869

Balance at end of period

$      722,122

$  721,471

$  701,864

$     685,041

$      695,878

Allowance for loan losses as a % of total loans

1.20 %

1.20 %

1.20 %

1.19 %

1.27 %

Allowance for loan losses as a % of nonperforming loans [d]

158.64

154.73

163.56

173.06

164.85

Allowance for loan losses as a % of nonperforming assets [d]

149.73

147.02

155.73

162.97

157.15

Annualized as a % of average loans:

NCO - QTD

0.19

0.18

0.17

0.22

0.16

NCO - YTD

0.18

0.18

0.17

0.22

0.23

[a]  Excludes loans classified as troubled debt restructuring (TDRs).

[b]  Includes loans held for sale.

[c]  Covered assets includes loans and OREO acquired from the FDIC subject to loss sharing agreements.

[d]  Includes loans held for sale that are on nonaccrual status.

 

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Three Months Ended September 30,

2015

2014

Average Balance

Income/ Expense

Yield/ Rate

Average Balance

Income/ Expense

Yield/ Rate

YIELD/RATE ANALYSIS

(Taxable Equivalent Basis)

Assets

Earning assets:

Loans

$  60,632,304

$  555,713

3.64 %

$  55,349,649

$  523,843

3.75 %

Investment securities available for sale [a]

10,507,688

47,360

1.79

9,128,401

50,150

2.18

Investment securities held to maturity

1,366,529

10,119

2.94

1,428,009

9,871

2.74

Other earning assets

4,850,157

16,090

1.32

199,694

984

1.95

Total earning assets [a]

77,356,678

629,282

3.23

66,105,753

584,848

3.51

Allowance for loan losses

(725,871)

(712,811)

Unrealized gain (loss) on securities available for sale

9,568

37,160

Other assets

13,121,355

12,478,985

Total assets

$  89,761,730

$  77,909,087

Liabilities and Shareholder's Equity

Interest bearing liabilities:

Interest bearing demand deposits

$    6,949,920

$      2,943

0.17

$    7,079,309

$      2,971

0.17

Savings and money market accounts

24,414,794

22,260

0.36

22,479,532

24,256

0.43

Certificates and other time deposits

13,158,735

42,990

1.30

12,956,374

39,478

1.21

Foreign office deposits

177,014

89

0.20

120,989

58

0.19

Total interest bearing deposits

44,700,463

68,282

0.61

42,636,204

66,763

0.62

FHLB and other borrowings

6,331,187

20,422

1.28

3,827,684

16,399

1.70

Federal funds purchased and securities sold under agreement to repurchase

677,351

2,506

1.47

838,802

447

0.21

Other short-term borrowings

4,370,077

11,129

1.01

51,290

394

3.05

Total interest bearing liabilities

56,079,078

102,339

0.72

47,353,980

84,003

0.70

Noninterest bearing deposits

19,311,966

17,039,477

Other noninterest bearing liabilities

2,053,536

1,598,363

Total liabilities

77,444,580

65,991,820

Shareholder's equity

12,317,150

11,917,267

Total liabilities and shareholder's equity

$  89,761,730

$  77,909,087

Net interest income/ net interest spread

526,943

2.51 %

500,845

2.81 %

Net yield on earning assets

2.70 %

3.01 %

Total taxable equivalent adjustment

19,076

18,877

Net interest income

$  507,867

$  481,968

[a] Excludes adjustment for market valuation.

 

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Nine Months Ended September 30,

2015

2014

Average Balance

Income/ Expense

Yield/ Rate

Average Balance

Income/ Expense

Yield/ Rate

YIELD/RATE ANALYSIS

(Taxable Equivalent Basis)

Assets

Earning assets:

Loans

$  59,737,187

$  1,659,303

3.71 %

$  53,751,488

$  1,578,007

3.93 %

Investment securities available for sale [a]

10,193,624

146,583

1.92

8,873,269

151,229

2.28

Investment securities held to maturity

1,366,299

29,782

2.91

1,465,399

30,310

2.77

Other earning assets

4,380,631

41,895

1.28

138,502

2,172

2.10

Total earning assets [a]

75,677,741

1,877,563

3.32

64,228,658

1,761,718

3.67

Allowance for loan losses

(707,459)

(707,630)

Unrealized gain (loss) on securities available for sale

44,180

40,216

Other assets

12,574,273

12,213,147

Total assets

$  87,588,735

$  75,774,391

Liabilities and Shareholders' Equity

Interest bearing liabilities:

Interest bearing demand deposits

$    7,281,588

8,868

0.16

$    7,269,983

9,066

0.17

Savings and money market accounts

23,890,463

70,465

0.39

21,020,159

59,922

0.38

Certificates and other time deposits

12,832,859

123,546

1.29

12,733,405

111,717

1.17

Foreign office deposits

171,048

257

0.20

121,212

175

0.19

  Total interest bearing deposits

44,175,958

203,136

0.61

41,144,759

180,880

0.59

FHLB and other borrowings

5,742,906

67,068

1.56

4,070,692

48,947

1.61

Federal funds purchased and securities sold under agreement to repurchase

832,854

5,534

0.89

885,147

1,384

0.21

Other short-term borrowings

3,973,734

36,668

1.23

27,183

516

2.54

Total interest bearing liabilities

54,725,452

312,406

0.76

46,127,781

231,727

0.67

Noninterest bearing deposits

18,749,621

16,349,912

Other noninterest bearing liabilities

1,890,692

1,509,944

Total liabilities

75,365,765

63,987,637

Shareholder's equity

12,222,970

11,786,754

Total liabilities and shareholder's equity

$  87,588,735

$  75,774,391

Net interest income/ net interest spread

1,565,157

2.56 %

1,529,991

3.00 %

Net yield on earning assets

2.77 %

3.18 %

Total taxable equivalent adjustment

56,279

53,950

Net interest income

$  1,508,878

$  1,476,041

[a] Excludes adjustment for market valuation.

 

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Nine Months

Three Months Ended

Ended September 30,

%

2015

2014

2015

2014

 Change 

September 30

June 30

March 31

December 31

September 30

NONINTEREST INCOME

Service charges on deposit accounts

$     161,891

$     165,886

(2)

$        54,917

$    53,690

$    53,284

$       56,799

$        57,537

Card and merchant processing fees

83,918

81,459

3

29,024

28,711

26,183

26,432

28,682

Retail investment sales

77,574

83,053

(7)

26,055

26,373

25,146

25,424

27,645

Investment banking and advisory fees

84,975

63,226

34

17,842

36,799

30,334

24,229

18,750

Asset management fees

24,449

31,959

(23)

7,918

8,435

8,096

10,813

10,666

Corporate and correspondent investment sales

20,290

22,016

(8)

6,047

7,984

6,259

7,619

5,388

Mortgage banking income

21,269

18,924

12

554

12,556

8,159

5,627

8,498

Bank owned life insurance

13,527

12,807

6

4,345

4,394

4,788

5,809

4,603

Other

192,473

154,581

25

79,938

55,797

56,738

68,032

54,809

680,366

633,911

7

226,640

234,739

218,987

230,784

216,578

Investment securities gains, net

66,967

47,608

41

6,736

27,399

32,832

5,434

9,710

Gain (loss) on prepayment of FHLB and other borrowings, net

(6,118)

(315)

 NM 

(3,569)

(2,549)

143

Total noninterest income

$     741,215

$     681,204

9

$      233,376

$  258,569

$  249,270

$     236,218

$      226,431

NONINTEREST EXPENSE

Salaries, benefits and commissions

$     796,333

$     791,204

1

$      268,362

$  268,709

$  259,262

$     281,065

$      265,334

FDIC indemnification expense

49,669

80,736

(38)

8,461

12,419

28,789

34,313

18,748

Professional services

152,462

148,652

3

54,784

51,119

46,559

59,027

52,463

Equipment

173,467

165,562

5

58,151

57,175

58,141

58,401

56,355

Net occupancy

119,187

118,514

1

39,525

40,382

39,280

39,865

39,357

Marketing

32,330

30,097

7

10,624

11,618

10,088

5,894

11,587

Communications

16,694

18,605

(10)

5,682

5,245

5,767

6,003

5,964

Amortization of intangibles

30,083

38,800

(22)

9,507

9,889

10,687

24,556

12,635

Other

208,380

205,101

1

81,154

63,080

64,146

74,357

70,699

Total noninterest expense

$  1,578,605

$  1,597,271

(1)

$      536,250

$  519,636

$  522,719

$     583,481

$      533,142

NM = Not meaningful

 

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Three Months Ended September 30,

Nine Months Ended September 30,

2015

2014

2015

2014

NON-GAAP RECONCILIATION

Computation of Average Tangible Equity:

Total stockholder's equity (average)

$          12,317,150

$          11,917,267

$          12,222,970

$          11,786,754

Less: Goodwill and other intangibles (average)

5,147,993

5,198,332

5,148,781

5,176,840

Average tangible equity [B]

$            7,169,157

$            6,718,935

$            7,074,189

$            6,609,914

Net income [A]

$               125,732

$               143,618

$               404,149

$               366,120

Return on average tangible equity ([A]/[B], annualized)

6.96 %

8.48 %

7.64 %

7.41 %

 

 

BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)

At or Quarter Ended September 30, 2015

30-59 Days Past Due

60-89 Days Past Due

90 Days or More Past Due

Nonaccrual

Accruing TDRs

Not Past Due or Impaired

Total

Net Charge Offs (Recoveries)

Commercial, financial and agricultural

$                       15,300

$                          3,930

$                 5,202

$       130,370

$              9,635

$       25,471,882

$       25,636,319

$                3,990

Real estate – construction

1,565

117

426

5,712

2,247

2,305,284

2,315,351

(426)

Commercial real estate –  mortgage

4,887

732

5,607

85,975

33,837

10,493,594

10,624,632

437

Residential real estate – mortgage

47,936

15,450

1,230

103,492

71,102

13,658,513

13,897,723

(299)

Equity lines of credit

8,988

4,675

2,411

33,436

-

2,326,898

2,376,408

2,087

Equity loans

6,485

1,807

985

15,104

37,785

549,982

612,148

384

Credit card

5,949

3,621

8,322

-

-

592,090

609,982

6,675

Consumer – direct

16,433

1,988

2,153

635

469

833,311

854,989

6,194

Consumer – indirect

60,018

12,901

4,213

6,053

-

2,818,418

2,901,603

8,970

Covered loans

4,303

3,347

43,039

153

-

407,224

458,066

488

Total loans

$                      171,864

$                        48,568

$               73,588

$       380,930

$          155,075

$        59,457,196

$        60,287,221

$              28,500

Loans held for sale

$                             416

$                             380

$                         -

$                   -

$                      -

$             633,362

$             634,158

$                        -

At or Quarter Ended June 30, 2015

30-59 Days Past Due

60-89 Days Past Due

90 Days or More Past Due

Nonaccrual

Accruing TDRs

Not Past Due or Impaired

Total

Net Charge Offs (Recoveries)

Commercial, financial and agricultural

$                       18,524

$                          7,037

$                 3,149

$       147,051

$              9,693

$       24,767,734

$       24,953,188

$                1,869

Real estate – construction

148

512

1,157

7,777

2,212

2,425,025

2,436,831

(2,106)

Commercial real estate –  mortgage

7,916

1,348

2,853

78,569

34,389

10,200,605

10,325,680

671

Residential real estate – mortgage

45,487

14,926

1,703

106,179

71,357

13,963,891

14,203,543

1,487

Equity lines of credit

7,833

4,370

2,515

33,757

-

2,304,225

2,352,700

3,608

Equity loans

5,202

1,553

1,147

16,175

38,998

576,051

639,126

(585)

Credit card

4,840

3,361

7,672

-

-

576,496

592,369

7,542

Consumer – direct

7,247

2,190

2,176

853

167

767,735

780,368

6,311

Consumer – indirect

47,676

8,895

2,810

4,853

-

3,185,345

3,249,579

7,593

Covered loans

5,930

3,640

44,528

136

-

419,608

473,842

152

Total loans

$                     150,803

$                       47,832

$               69,710

$       395,350

$          156,816

$        59,186,715

$        60,007,226

$              26,542

Loans held for sale

$                                 -

$                                 -

$                         -

$                   -

$                      -

$             195,616

$             195,616

$                        -

BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)

At or Quarter Ended March 31, 2015

30-59 Days Past Due

60-89 Days Past Due

90 Days or More Past Due

Nonaccrual

Accruing TDRs

Not Past Due or Impaired

Total

Net Charge Offs (Recoveries)

Commercial, financial and agricultural

$                          7,940

$                          3,981

$                 2,901

$         95,318

$              9,632

$       24,329,192

$       24,448,964

$                4,437

Real estate – construction

5,275

450

392

7,781

2,237

2,309,360

2,325,495

(1,426)

Commercial real estate –  mortgage

6,346

3,629

2,542

87,931

35,292

9,784,843

9,920,583

203

Residential real estate – mortgage

45,893

17,007

3,195

107,051

70,299

13,757,423

14,000,868

927

Equity lines of credit

10,615

4,602

1,995

34,597

-

2,274,075

2,325,884

1,943

Equity loans

5,387

1,728

703

18,313

40,432

568,732

635,295

371

Credit card

5,004

3,441

8,618

-

-

582,967

600,030

7,834

Consumer – direct

7,545

2,406

2,426

2,010

180

692,684

707,251

3,478

Consumer – indirect

34,444

6,726

2,576

4,102

-

3,057,685

3,105,533

6,568

Covered loans

6,582

3,872

45,402

179

-

432,525

488,560

873

Total loans

$                     135,031

$                       47,842

$               70,750

$        357,282

$          158,072

$        57,789,486

$        58,558,463

$              25,208

Loans held for sale

$                                 -

$                                 -

$                         -

$               257

$                      -

$             198,231

$             198,488

$                        -

At or Quarter Ended December 31, 2014

30-59 Days Past Due

60-89 Days Past Due

90 Days or More Past Due

Nonaccrual

Accruing TDRs

Not Past Due or Impaired

Total

Net Charge Offs (Recoveries)

Commercial, financial and agricultural

$                       10,829

$                          5,765

$                 1,610

$         61,157

$            10,127

$       23,739,049

$       23,828,537

$                    712

Real estate – construction

1,954

994

477

7,964

2,112

2,141,151

2,154,652

(1,539)

Commercial real estate –  mortgage

9,813

4,808

628

89,736

39,841

9,732,380

9,877,206

3,180

Residential real estate – mortgage

45,279

16,510

2,598

108,357

69,408

13,680,504

13,922,656

3,848

Equity lines of credit

9,929

4,395

2,679

32,874

-

2,254,907

2,304,784

2,128

Equity loans

6,357

3,268

997

19,029

41,197

564,120

634,968

755

Credit card

5,692

3,921

9,441

-

-

611,402

630,456

8,209

Consumer – direct

9,542

1,826

2,296

799

298

638,166

652,927

4,756

Consumer – indirect

35,366

7,935

2,771

2,624

-

2,821,712

2,870,408

8,367

Covered loans

6,678

4,618

47,957

114

-

435,823

495,190

335

Total loans

$                      141,439

$                       54,040

$               71,454

$       322,654

$          162,983

$        56,619,214

$        57,371,784

$              30,751

Loans held for sale

$                             240

$                                 -

$                         -

$                   -

$                      -

$             154,576

$             154,816

$                        -

BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)

At or Quarter Ended September 30, 2014

30-59 Days Past Due

60-89 Days Past Due

90 Days or More Past Due

Nonaccrual

Accruing TDRs

Not Past Due or Impaired

Total

Net Charge Offs (Recoveries)

Commercial, financial and agricultural

12,846

3,261

838

79,577

10,444

22,403,990

22,510,956

(414)

Real estate – construction

526

109

464

9,928

672

1,966,085

1,977,784

(977)

Commercial real estate –  mortgage

7,716

3,129

3,448

92,718

43,023

9,348,527

9,498,561

247

Residential real estate – mortgage

37,711

20,447

2,474

104,192

72,590

13,369,402

13,606,816

3,223

Equity lines of credit

8,046

3,966

3,308

34,115

-

2,210,126

2,259,561

2,221

Equity loans

5,624

2,746

1,068

18,637

42,595

558,377

629,047

1,142

Credit card

5,566

3,718

8,774

-

-

612,942

631,000

7,570

Consumer – direct

7,751

1,678

1,984

402

57

598,108

609,980

4,482

Consumer – indirect

30,348

6,379

1,389

1,596

-

2,665,060

2,704,772

4,553

Covered loans

9,741

4,512

52,449

3,772

2,399

507,883

580,756

704

Total loans

$                     125,875

$                       49,945

$               76,196

$       344,937

$          171,780

$        54,240,500

$        55,009,233

$              22,751

Loans held for sale

$                                 -

$                                 -

$                         -

$                   -

$                      -

$             190,882

$             190,882

$                        -

 

 

BBVA COMPASS BANCSHARES, INC.

BALANCE SHEET (Unaudited)

(Dollars in Thousands)

2015

2014

September 30

June 30

March 31

December 31

September 30

Assets:

Cash and due from banks

$     3,898,257

$    3,353,177

$    3,664,182

$    2,764,345

$     4,643,636

Federal funds sold, securities purchased under agreements to resell and interest bearing deposits

479,207

512,244

300,175

624,060

271,898

Cash and cash equivalents

4,377,464

3,865,421

3,964,357

3,388,405

4,915,534

Trading account assets

4,193,506

4,879,125

3,680,427

2,834,397

515,136

Investment securities available for sale

10,803,660

10,392,484

10,101,828

10,237,275

9,326,413

Investment securities held to maturity

1,357,801

1,375,075

1,373,542

1,348,354

1,417,985

Loans held for sale

634,158

195,616

198,488

154,816

190,882

Loans

60,287,221

60,007,226

58,558,463

57,371,784

55,009,233

Allowance for loan losses

(722,122)

(721,471)

(701,864)

(685,041)

(695,878)

Net loans

59,565,099

59,285,755

57,856,599

56,686,743

54,313,355

Premises and equipment, net

1,309,009

1,315,020

1,332,539

1,351,479

1,333,008

Bank owned life insurance

697,023

698,773

694,370

694,335

695,842

Goodwill

5,060,197

5,060,161

5,046,847

5,046,847

5,060,924

Other intangible assets

40,701

50,208

60,097

70,784

82,840

Other real estate owned

23,762

20,188

17,764

20,600

17,058

Other assets

1,297,620

1,332,923

1,148,883

1,318,392

1,323,212

Total assets

$  89,360,000

$ 88,470,749

$ 85,475,741

$ 83,152,427

$  79,192,189

Liabilities:

Deposits:

Noninterest bearing

$  19,060,016

$ 19,048,273

$ 18,599,702

$ 17,169,412

$  16,979,235

Interest bearing

45,432,380

43,451,096

44,300,979

44,020,304

43,291,723

Total deposits

64,492,396

62,499,369

62,900,681

61,189,716

60,270,958

FHLB and other borrowings

6,216,425

6,778,066

4,919,141

4,809,843

4,551,050

Federal funds purchased and securities sold under agreements to repurchase

639,259

623,400

909,683

1,129,503

809,053

Other short-term borrowings

4,167,897

4,982,154

3,377,694

2,545,724

246,835

Accrued expenses and other liabilities

1,463,688

1,360,698

1,206,612

1,474,067

1,387,240

Total liabilities

76,979,665

76,243,687

73,313,811

71,148,853

67,265,136

Shareholder's Equity:

Common stock — $0.01 par value

2,230

2,230

2,230

2,230

2,230

Surplus

15,246,072

15,245,414

15,278,877

15,285,991

15,333,316

Retained deficit

(2,859,770)

(2,985,011)

(3,121,071)

(3,262,181)

(3,364,389)

Accumulated other comprehensive loss

(37,789)

(64,672)

(27,654)

(51,357)

(73,846)

Total BBVA Compass Bancshares, Inc. shareholder's equity

12,350,743

12,197,961

12,132,382

11,974,683

11,897,311

Noncontrolling interests

29,592

29,101

29,548

28,891

29,742

Total shareholder's equity

12,380,335

12,227,062

12,161,930

12,003,574

11,927,053

Total liabilities and shareholder's equity

$  89,360,000

$ 88,470,749

$ 85,475,741

$ 83,152,427

$  79,192,189

 

 

BBVA COMPASS BANCSHARES, INC.

INCOME STATEMENT (Unaudited)

(Dollars in Thousands)

Three Months Ended

2015

2014

September 30

June 30

March 31

December 31

September 30

Interest income:

Interest and fees on loans

$        540,517

$ 531,394

$ 543,842

$       547,309

$        509,766

Interest on investment securities available for sale

46,646

48,204

48,208

45,786

48,363

Interest on investment securities held to maturity

6,953

6,924

6,702

6,860

6,862

Interest on federal funds sold, securities purchased under agreements to resell and interest bearing deposits

1,659

1,362

996

566

47

Interest on trading account assets

14,431

13,832

9,614

5,696

933

Total interest income

610,206

601,716

609,362

606,217

565,971

Interest expense:

Interest on deposits

68,282

65,201

69,653

71,034

66,763

Interest on FHLB and other borrowings

20,422

27,540

19,106

20,010

16,399

Interest on federal funds purchased and securities sold under agreements to repurchase

2,506

1,702

1,326

918

447

Interest on other short-term borrowings

11,129

15,291

10,248

4,802

394

Total interest expense

102,339

109,734

100,333

96,764

84,003

Net interest income

507,867

491,982

509,029

509,453

481,968

Provision for loan losses

29,151

46,149

42,031

19,914

3,869

Net interest income after provision for loan losses

478,716

445,833

466,998

489,539

478,099

Noninterest income:

Service charges on deposit accounts

54,917

53,690

53,284

56,799

57,537

Card and merchant processing fees

29,024

28,711

26,183

26,432

28,682

Retail investment sales

26,055

26,373

25,146

25,424

27,645

Investment banking and advisory fees

17,842

36,799

30,334

24,228

18,750

Asset management fees

7,918

8,435

8,096

10,813

10,666

Corporate and correspondent investment sales

6,047

7,984

6,259

7,619

5,388

Mortgage banking income

554

12,556

8,159

5,627

8,498

Bank owned life insurance

4,345

4,394

4,788

5,809

4,603

Investment securities gains, net

6,736

27,399

32,832

5,434

9,710

Gain (loss) on prepayment of FHLB and other borrowings

(3,569)

(2,549)

143

Other

79,938

55,797

56,738

68,033

54,809

Total noninterest income

233,376

258,569

249,270

236,218

226,431

Noninterest expense:

Salaries, benefits and commissions

268,362

268,709

259,262

281,065

265,334

FDIC indemnification expense

8,461

12,419

28,789

34,313

18,748

Professional services

54,784

51,119

46,559

59,027

52,463

Equipment

58,151

57,175

58,141

58,401

56,355

Net occupancy

39,525

40,382

39,280

39,865

39,357

Marketing

10,624

11,618

10,088

5,894

11,587

Communications

5,682

5,245

5,767

6,003

5,964

Amortization of intangibles

9,507

9,889

10,687

24,556

12,635

Other

81,154

63,080

64,146

74,357

70,699

Total noninterest expense

536,250

519,636

522,719

583,481

533,142

Net income before income tax expense

175,842

184,766

193,549

142,276

171,388

Income tax expense

50,110

48,116

51,782

39,864

27,770

Net income

125,732

136,650

141,767

102,412

143,618

Less: net income attributable to noncontrolling interests

491

590

657

204

815

Net income attributable to shareholder

$        125,241

$ 136,060

$ 141,110

$       102,208

$        142,803

 

Logo - http://photos.prnewswire.com/prnh/20140825/139263

 

SOURCE BBVA Compass Bancshares, Inc.



RELATED LINKS

http://www.bbvacompass.com