BBVA Compass reports earnings of $467 million for the full-year of 2014, up 12% from prior year
- Fourth quarter earnings increase 49% from prior year
- Total loans end the year at $57.5 billion, up 13% from prior year levels; funded loan originations up 8% to $17.7 billion driven by strong commercial demand
- Total deposits increase 12% to $61.2 billion, driven by a 16% increase in interest bearing transaction accounts
- Key credit quality metrics show continued improvement; nonperforming asset ratio drops to 0.73% from 1.09% and net charge-off ratio declines to 0.22%
- Diversification of fee-based businesses spurs 7% increase in noninterest income; focus on improving efficiency and costs controls results in 1% decline in noninterest expenses
HOUSTON, Feb. 4, 2015 /PRNewswire/ -- BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $467 million for the full-year of 2014, a 12 percent increase compared to $418 million earned for the full-year of 2013. Return on average assets and return on average tangible equity1 for the twelve months of 2014 were 0.60 percent and 7.03 percent, respectively.
Net income attributable to shareholder for the fourth quarter of 2014 was $102 million, a 49 percent increase from the $69 million earned during the fourth quarter of 2013. Return on average assets and return on average tangible equity1 for the fourth quarter of 2014 were 0.49 percent and 5.97 percent, respectively.
"BBVA Compass delivered outstanding financial results in 2014 despite the prolonged low-interest rate environment, which continues to impede revenue growth across our industry," said Manolo Sanchez, chairman and CEO of BBVA Compass. "We delivered robust balance sheet growth with double-digit increases in both total loans and total deposits. We funded a record $17.7 billion of new customer loans, with strong commercial demand driving loan growth. What's more, our focus on deposits met with continued success as total deposits increased $6.8 billion during the year, led by a 16 percent increase in interest bearing transaction accounts."
Sanchez noted that balance sheet growth did not come at the expense of maintaining sound risk and underwriting standards. Credit quality metrics showed further improvement as nonperforming assets as a percentage of loans, other real estate and other repossessed assets dropped to 0.73 percent and net charge-offs as a percentage of average loans declined to 22 basis points compared to 44 basis points for the full-year of 2013.
"While compressed spreads tempered the positive impact of balance sheet growth on net interest income, efforts to further diversify and expand fee-based businesses resulted in a 7 percent increase in noninterest income," Sanchez said. "We also did a good job curbing costs, as disciplined expense management led to a 1 percent decrease in total noninterest expenses."
Total shareholder's equity ended the fourth quarter of 2014 at $12.0 billion, a 4 percent increase from $11.5 billion at the end of the fourth quarter of 2013. Accordingly, regulatory capital ratios remain significantly above "well-capitalized" guidelines.
During the fourth quarter, BBVA Compass announced a new $11 billion community development program designed to support low- and moderate-income individuals and neighborhoods and boost economic development across all communities in the markets it serves.
Over the next five years, the bank intends to originate $2.1 billion in mortgage loans to low- and moderate-income (LMI) homebuyers and in LMI neighborhoods, $6.2 billion for small business lending, $1.8 billion for community development lending, and make $900 million in community development investments. The bank also plans to unveil new delivery channels, products and services for LMI individuals in 2015.
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 lead 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 (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and in 2014 ranked 12th nationally in total SBA loan volume. BBVA Compass earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. Additional information about BBVA Compass can be found under the Investor Relations tab at www.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 www.bbva.com.
Forward-Looking Statements
Certain statements in this press release may contain forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. 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. 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 28, 2014, as updated by our subsequent SEC filings.
|
BBVA COMPASS BANCSHARES, INC. | ||||||||||||||||||
|
(Unaudited) | ||||||||||||||||||
|
(Dollars in thousands) | ||||||||||||||||||
|
Three Months Ended |
% |
Years Ended |
% |
|||||||||||||||
|
2014 |
2013 |
Change |
2014 |
2013 |
Change |
|||||||||||||
|
EARNINGS SUMMARY |
||||||||||||||||||
|
Net interest income |
$ 509,453 |
$ 507,509 |
— |
$ 1,985,494 |
$ 2,042,681 |
(3) |
||||||||||||
|
Noninterest income [a] |
230,784 |
191,074 |
21 |
864,695 |
801,644 |
8 |
||||||||||||
|
Total revenue [a] |
740,237 |
698,583 |
6 |
2,850,189 |
2,844,325 |
— |
||||||||||||
|
Investment securities gain (loss), net |
5,434 |
(1,659) |
NM |
53,042 |
31,371 |
69 |
||||||||||||
|
Gain (loss) on prepayment of FHLB advances |
— |
— |
NM |
(315) |
21,775 |
NM |
||||||||||||
|
Provision for loan losses |
19,914 |
26,160 |
(24) |
106,301 |
107,546 |
(1) |
||||||||||||
|
Noninterest expense |
583,481 |
576,671 |
1 |
2,180,752 |
2,199,175 |
(1) |
||||||||||||
|
Pretax income |
142,276 |
94,093 |
51 |
615,863 |
590,750 |
4 |
||||||||||||
|
Income tax expense |
39,864 |
24,787 |
61 |
147,331 |
170,820 |
(14) |
||||||||||||
|
Net income |
102,412 |
69,306 |
48 |
468,532 |
419,930 |
12 |
||||||||||||
|
Net income attributable to noncontrolling interests |
204 |
486 |
(58) |
1,976 |
2,094 |
(6) |
||||||||||||
|
Net income attributable to shareholder |
$ 102,208 |
$ 68,820 |
49 |
$ 466,556 |
$ 417,836 |
12 |
||||||||||||
|
SELECTED RATIOS |
||||||||||||||||||
|
Return on average assets |
0.49 % |
0.38 % |
0.60 % |
0.60 % |
||||||||||||||
|
Return on average tangible equity [b] |
5.97 |
4.31 |
7.03 |
6.77 |
||||||||||||||
|
Average common equity to average assets |
14.52 |
15.94 |
15.28 |
16.12 |
||||||||||||||
|
Average loans to average total deposits |
92.31 |
93.96 |
93.18 |
91.26 |
||||||||||||||
|
Tier I capital ratio [c] |
10.94 |
11.62 |
10.94 |
11.62 |
||||||||||||||
|
Tier 1 common capital ratio [b] [c] |
10.74 |
11.39 |
10.74 |
11.39 |
||||||||||||||
|
Total capital ratio [c] |
12.81 |
13.74 |
12.81 |
13.74 |
||||||||||||||
|
Leverage ratio [c] |
9.09 |
9.87 |
9.09 |
9.87 |
||||||||||||||
|
Average for Three Months |
Average for Year Ended |
Ending Balance |
||||||||||||||||
|
Ended December 31, |
% |
Ended December 31, |
% |
December 31, |
% | |||||||||||||
|
2014 |
2013 |
Change |
2014 |
2013 |
Change |
2014 |
2013 |
Change | ||||||||||
|
BALANCE SHEET HIGHLIGHTS |
||||||||||||||||||
|
Total loans |
$ 56,419,150 |
$ 50,506,422 |
12 |
$ 54,423,885 |
$ 47,959,849 |
13 |
$ 57,526,600 |
$ 50,814,125 |
13 | |||||||||
|
Total investment securities |
11,023,444 |
9,921,998 |
11 |
10,541,348 |
10,100,601 |
4 |
11,585,629 |
9,832,281 |
18 | |||||||||
|
Earning assets |
69,447,957 |
60,532,456 |
15 |
65,574,287 |
58,197,813 |
13 |
72,344,332 |
60,726,001 |
19 | |||||||||
|
Total assets |
82,702,903 |
72,099,576 |
15 |
77,520,755 |
70,309,637 |
10 |
83,152,427 |
71,965,476 |
16 | |||||||||
|
Noninterest bearing demand deposits |
17,473,984 |
15,492,506 |
13 |
16,633,240 |
14,586,725 |
14 |
17,169,412 |
15,377,844 |
12 | |||||||||
|
Interest bearing transaction accounts |
30,695,786 |
26,298,335 |
17 |
28,896,496 |
25,961,989 |
11 |
31,176,846 |
26,969,845 |
16 | |||||||||
|
Total transaction accounts |
48,169,770 |
41,790,841 |
15 |
45,529,736 |
40,548,714 |
12 |
48,346,258 |
42,347,689 |
14 | |||||||||
|
Total deposits |
61,116,755 |
53,755,937 |
14 |
58,407,635 |
52,553,744 |
11 |
61,189,716 |
54,437,490 |
12 | |||||||||
|
Shareholder's equity |
12,005,933 |
11,491,753 |
4 |
11,841,999 |
11,337,388 |
4 |
12,003,574 |
11,487,759 |
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. | ||||||||||||||||||
|
NM = Not meaningful |
|
BBVA COMPASS BANCSHARES, INC. | ||||||||||
|
(Unaudited) | ||||||||||
|
(Dollars in Thousands) | ||||||||||
|
2014 |
2013 | |||||||||
|
December 31 |
September 30 |
June 30 |
March 31 |
December 31 | ||||||
|
NONPERFORMING ASSETS |
||||||||||
|
Nonaccrual loans |
$ 322,654 |
$ 344,937 |
$ 341,807 |
$ 388,597 |
$ 441,718 | |||||
|
Loans 90 days or more past due [a] |
71,454 |
76,196 |
76,219 |
83,490 |
82,814 | |||||
|
TDRs 90 days or more past due |
1,722 |
991 |
629 |
204 |
1,317 | |||||
|
Total nonperforming loans [b] |
395,830 |
422,124 |
418,655 |
472,291 |
525,849 | |||||
|
Other real estate owned, net (OREO) |
20,600 |
17,058 |
21,113 |
25,817 |
23,228 | |||||
|
Other repossessed assets |
3,920 |
3,618 |
2,796 |
3,313 |
3,360 | |||||
|
Total nonperforming assets |
$ 420,350 |
$ 442,800 |
$ 442,564 |
$ 501,421 |
$ 552,437 | |||||
|
TDRs accruing and past due less than 90 days |
$ 161,261 |
$ 170,789 |
$ 177,630 |
$ 202,075 |
$ 208,391 | |||||
|
Covered loans [c] |
495,190 |
580,756 |
613,152 |
701,158 |
734,190 | |||||
|
Covered nonperforming loans [c] |
48,071 |
56,221 |
59,331 |
63,664 |
62,038 | |||||
|
Covered nonperforming assets [c] |
51,989 |
59,609 |
62,824 |
67,500 |
66,151 | |||||
|
Total nonperforming loans as a % of loans |
0.69 % |
0.76 % |
0.77 % |
0.89 % |
1.03 % | |||||
|
Total nonperforming loans as a % of loans, excluding covered loans |
0.61 |
0.67 |
0.67 |
0.78 |
0.93 | |||||
|
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets |
0.73 |
0.80 |
0.81 |
0.95 |
1.09 | |||||
|
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets, excluding covered assets |
0.65 |
0.70 |
0.71 |
0.83 |
0.97 | |||||
|
Three Months Ended | ||||||||||
|
2014 |
2013 | |||||||||
|
December 31 |
September 30 |
June 30 |
March 31 |
December 31 | ||||||
|
ALLOWANCE FOR LOAN LOSSES |
||||||||||
|
Balance at beginning of period |
$ 695,878 |
$ 714,760 |
$ 707,665 |
$ 700,719 |
$ 717,937 | |||||
|
Net charge-offs (NCO) |
30,751 |
22,751 |
38,157 |
30,320 |
43,378 | |||||
|
Provision for loan losses |
19,914 |
3,869 |
45,252 |
37,266 |
26,160 | |||||
|
Balance at end of period |
$ 685,041 |
$ 695,878 |
$ 714,760 |
$ 707,665 |
$ 700,719 | |||||
|
Allowance for loan losses as a % of total loans |
1.19 % |
1.27 % |
1.32 % |
1.34 % |
1.38 % | |||||
|
Allowance for loan losses as a % of nonperforming loans [d] |
173.06 |
164.85 |
170.73 |
149.84 |
133.25 | |||||
|
Allowance for loan losses as a % of nonperforming assets [d] |
162.97 |
157.15 |
161.50 |
141.13 |
126.84 | |||||
|
Annualized as a % of average loans: |
||||||||||
|
NCO - QTD |
0.22 |
0.16 |
0.28 |
0.24 |
0.34 | |||||
|
NCO - YTD |
0.22 |
0.23 |
0.26 |
0.24 |
0.44 | |||||
|
[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 December 31, | ||||||||||||
|
2014 |
2013 | |||||||||||
|
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate | |||||||
|
YIELD/RATE ANALYSIS |
||||||||||||
|
(Taxable Equivalent Basis) |
||||||||||||
|
Assets |
||||||||||||
|
Earning assets: |
||||||||||||
|
Loans |
$ 56,419,150 |
$ 561,422 |
3.95 % |
$ 50,506,422 |
$ 535,388 |
4.21 % | ||||||
|
Investment securities available for sale [a] |
9,583,937 |
47,503 |
1.97 |
8,352,631 |
46,740 |
2.22 | ||||||
|
Investment securities held to maturity |
1,394,926 |
9,835 |
2.80 |
1,535,107 |
10,720 |
2.77 | ||||||
|
Other earning assets |
2,005,363 |
6,262 |
1.24 |
104,036 |
615 |
2.35 | ||||||
|
Total earning assets [a] |
69,403,376 |
625,022 |
3.57 |
60,498,196 |
593,463 |
3.89 | ||||||
|
Allowance for loan losses |
(692,839) |
(717,913) |
||||||||||
|
Unrealized gain (loss) on securities available for sale |
44,581 |
34,260 |
||||||||||
|
Other assets |
13,947,785 |
12,285,033 |
||||||||||
|
Total assets |
$ 82,702,903 |
$ 72,099,576 |
||||||||||
|
Liabilities and Shareholders' Equity |
||||||||||||
|
Interest bearing liabilities: |
||||||||||||
|
Interest bearing demand deposits |
$ 7,311,384 |
$ 2,920 |
0.16 |
$ 7,240,082 |
$ 2,940 |
0.16 | ||||||
|
Savings and money market accounts |
23,384,402 |
27,750 |
0.47 |
19,058,253 |
15,779 |
0.33 | ||||||
|
Certificates and other time deposits |
12,783,269 |
40,280 |
1.25 |
11,847,529 |
33,099 |
1.11 | ||||||
|
Foreign office deposits |
163,716 |
84 |
0.20 |
117,567 |
61 |
0.21 | ||||||
|
Total interest bearing deposits |
43,642,771 |
71,034 |
0.65 |
38,263,431 |
51,879 |
0.54 | ||||||
|
FHLB and other borrowings |
4,799,343 |
20,010 |
1.65 |
4,508,823 |
17,205 |
1.51 | ||||||
|
Federal funds purchased and securities sold under agreement to repurchase |
1,084,679 |
918 |
0.34 |
964,386 |
505 |
0.21 | ||||||
|
Other short-term borrowings |
1,448,610 |
4,802 |
1.32 |
12,916 |
31 |
0.95 | ||||||
|
Total interest bearing liabilities |
50,975,403 |
96,764 |
0.75 |
43,749,556 |
69,620 |
0.63 | ||||||
|
Noninterest bearing deposits |
17,473,984 |
15,492,506 |
||||||||||
|
Other noninterest bearing liabilities |
2,247,583 |
1,365,761 |
||||||||||
|
Total liabilities |
70,696,970 |
60,607,823 |
||||||||||
|
Shareholder's equity |
12,005,933 |
11,491,753 |
||||||||||
|
Total liabilities and shareholder's equity |
$ 82,702,903 |
$ 72,099,576 |
||||||||||
|
Net interest income/ net interest spread |
528,258 |
2.82 % |
523,843 |
3.26 % | ||||||||
|
Net yield on earning assets |
3.02 % |
3.44 % | ||||||||||
|
Total taxable equivalent adjustment |
18,805 |
16,334 |
||||||||||
|
Net interest income |
$ 509,453 |
$ 507,509 |
||||||||||
|
[a] Excludes adjustment for market valuation. | ||||||||||||
|
BBVA COMPASS BANCSHARES, INC. | ||||||||||||
|
(Unaudited) | ||||||||||||
|
(Dollars in Thousands) | ||||||||||||
|
Years Ended December 31, | ||||||||||||
|
2014 |
2013 | |||||||||||
|
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate | |||||||
|
YIELD/RATE ANALYSIS |
||||||||||||
|
(Taxable Equivalent Basis) |
||||||||||||
|
Assets |
||||||||||||
|
Earning assets: |
||||||||||||
|
Loans |
$ 54,423,885 |
$ 2,139,429 |
3.93 % |
$ 47,959,849 |
$ 2,149,731 |
4.48 % | ||||||
|
Investment securities available for sale [a] |
9,052,396 |
198,732 |
2.20 |
8,462,224 |
185,624 |
2.19 | ||||||
|
Investment securities held to maturity |
1,447,636 |
40,145 |
2.77 |
1,539,945 |
43,467 |
2.82 | ||||||
|
Other earning assets |
609,054 |
8,434 |
0.01 |
137,363 |
3,171 |
0.02 | ||||||
|
Total earning assets [a] |
65,532,971 |
2,386,740 |
3.64 |
58,099,381 |
2,381,993 |
4.10 | ||||||
|
Allowance for loan losses |
(703,902) |
(752,801) |
||||||||||
|
Unrealized gain (loss) on securities available for sale |
41,316 |
98,432 |
||||||||||
|
Other assets |
12,650,370 |
12,864,625 |
||||||||||
|
Total assets |
$ 77,520,755 |
$ 70,309,637 |
||||||||||
|
Liabilities and Shareholders' Equity |
||||||||||||
|
Interest bearing liabilities: |
||||||||||||
|
Interest bearing demand deposits |
$ 7,280,418 |
11,986 |
0.16 |
$ 6,824,450 |
11,377 |
0.17 | ||||||
|
Savings and money market accounts |
21,616,078 |
87,672 |
0.41 |
19,137,539 |
71,860 |
0.38 | ||||||
|
Certificates and other time deposits |
12,745,974 |
151,997 |
1.19 |
11,886,386 |
128,600 |
1.08 | ||||||
|
Foreign office deposits |
131,925 |
259 |
0.20 |
118,644 |
263 |
0.22 | ||||||
|
Total interest bearing deposits |
41,774,395 |
251,914 |
0.60 |
37,967,019 |
212,100 |
0.56 | ||||||
|
FHLB and other borrowings |
4,254,352 |
68,957 |
1.62 |
4,269,521 |
66,275 |
1.55 | ||||||
|
Federal funds purchased and securities sold under agreement to repurchase |
935,439 |
2,302 |
0.25 |
979,759 |
2,082 |
0.21 | ||||||
|
Other short-term borrowings |
385,461 |
5,318 |
1.38 |
12,739 |
118 |
0.93 | ||||||
|
Total interest bearing liabilities |
47,349,647 |
328,491 |
0.69 |
43,229,038 |
280,575 |
0.65 | ||||||
|
Noninterest bearing deposits |
16,633,240 |
14,586,725 |
||||||||||
|
Other noninterest bearing liabilities |
1,695,869 |
1,156,486 |
||||||||||
|
Total liabilities |
65,678,756 |
58,972,249 |
||||||||||
|
Shareholder's equity |
11,841,999 |
11,337,388 |
||||||||||
|
Total liabilities and shareholder's equity |
$ 77,520,755 |
$ 70,309,637 |
||||||||||
|
Net interest income/ net interest spread |
2,058,249 |
2.95 % |
2,101,418 |
3.45 % | ||||||||
|
Net yield on earning assets |
3.14 % |
3.62 % | ||||||||||
|
Total taxable equivalent adjustment |
72,755 |
58,737 |
||||||||||
|
Net interest income |
$ 1,985,494 |
$ 2,042,681 |
||||||||||
|
[a] Excludes adjustment for market valuation. | ||||||||||||
|
BBVA COMPASS BANCSHARES, INC. | ||||||||||||||||
|
(Unaudited) | ||||||||||||||||
|
(Dollars in Thousands) | ||||||||||||||||
|
Year Ended |
Three Months Ended | |||||||||||||||
|
December 31, |
% |
2014 |
2013 | |||||||||||||
|
2014 |
2013 |
Change |
December 31 |
September 30 |
June 30 |
March 31 |
December 31 | |||||||||
|
NONINTEREST INCOME |
||||||||||||||||
|
Service charges on deposit accounts |
$ 222,685 |
$ 221,413 |
1 |
$ 56,799 |
$ 57,537 |
$ 54,958 |
$ 53,391 |
$ 56,812 | ||||||||
|
Card and merchant processing fees |
107,891 |
102,189 |
6 |
26,432 |
28,682 |
28,473 |
24,304 |
25,320 | ||||||||
|
Retail investment sales |
108,477 |
97,276 |
12 |
25,424 |
27,645 |
28,844 |
26,564 |
25,552 | ||||||||
|
Investment banking and advisory fees |
87,454 |
47,604 |
84 |
24,228 |
18,750 |
22,280 |
22,196 |
13,958 | ||||||||
|
Asset management fees |
42,772 |
40,939 |
4 |
10,813 |
10,666 |
10,535 |
10,758 |
9,796 | ||||||||
|
Corporate and correspondent investment sales |
29,635 |
35,674 |
(17) |
7,619 |
5,388 |
7,972 |
8,656 |
8,720 | ||||||||
|
Mortgage banking income |
24,551 |
35,399 |
(31) |
5,627 |
8,498 |
6,150 |
4,276 |
3,178 | ||||||||
|
Bank owned life insurance |
18,616 |
17,747 |
5 |
5,809 |
4,603 |
4,237 |
3,967 |
4,846 | ||||||||
|
Other |
222,614 |
203,403 |
9 |
68,033 |
54,809 |
50,532 |
49,240 |
42,892 | ||||||||
|
864,695 |
801,644 |
8 |
230,784 |
216,578 |
213,981 |
203,352 |
191,074 | |||||||||
|
Investment securities gains, net |
53,042 |
31,371 |
69 |
5,434 |
9,710 |
21,464 |
16,434 |
(1,659) | ||||||||
|
Gain (loss) on prepayment of FHLB and other borrowings |
(315) |
21,775 |
NM |
— |
143 |
— |
(458) |
— | ||||||||
|
Total noninterest income |
$ 917,422 |
$ 854,790 |
7 |
$ 236,218 |
$ 226,431 |
$ 235,445 |
$ 219,328 |
$ 189,415 | ||||||||
|
NONINTEREST EXPENSE |
||||||||||||||||
|
Salaries, benefits and commissions |
$ 1,072,269 |
$ 1,005,244 |
7 |
$ 281,065 |
$ 265,334 |
$ 263,301 |
$ 262,569 |
$ 261,643 | ||||||||
|
FDIC indemnification expense |
115,049 |
267,159 |
(57) |
34,313 |
18,748 |
30,370 |
31,618 |
55,453 | ||||||||
|
Professional services |
207,679 |
191,402 |
9 |
59,027 |
52,463 |
49,790 |
46,399 |
58,204 | ||||||||
|
Equipment |
223,963 |
208,059 |
8 |
58,401 |
56,355 |
55,469 |
53,738 |
59,070 | ||||||||
|
Net occupancy |
158,379 |
157,737 |
— |
39,865 |
39,357 |
40,200 |
38,957 |
40,115 | ||||||||
|
Marketing |
35,991 |
37,352 |
(4) |
5,894 |
11,587 |
9,986 |
8,524 |
9,212 | ||||||||
|
Communications |
24,608 |
25,965 |
(5) |
6,003 |
5,964 |
6,294 |
6,347 |
7,392 | ||||||||
|
Amortization of intangibles |
50,856 |
60,691 |
(16) |
24,556 |
12,635 |
13,631 |
12,534 |
14,305 | ||||||||
|
Other |
291,958 |
245,566 |
19 |
74,357 |
70,699 |
76,221 |
58,181 |
71,277 | ||||||||
|
Total noninterest expense |
$ 2,180,752 |
$ 2,199,175 |
(1) |
$ 583,481 |
$ 533,142 |
$ 545,262 |
$ 518,867 |
$ 576,671 | ||||||||
|
NM = Not meaningful |
||||||||||||||||
|
BBVA COMPASS BANCSHARES, INC. | ||||||||
|
(Unaudited) | ||||||||
|
(Dollars in Thousands) | ||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||
|
2014 |
2013 |
2014 |
2013 | |||||
|
NON-GAAP RECONCILIATION |
||||||||
|
Computation of Average Tangible Equity: |
||||||||
|
Total stockholder's equity |
$ 12,005,933 |
$ 11,491,753 |
$ 11,841,999 |
$ 11,337,388 | ||||
|
Less: Goodwill and other intangibles |
5,198,332 |
5,116,852 |
5,175,940 |
5,132,741 | ||||
|
Tangible common equity |
$ 6,807,601 |
$ 6,374,901 |
$ 6,666,059 |
$ 6,204,647 | ||||
|
Computation of Tier 1 Tangible Common Equity: |
||||||||
|
Total stockholder's equity |
$ 11,974,683 |
$ 11,458,752 |
$ 11,974,683 |
$ 11,458,752 | ||||
|
Less: Goodwill and other intangibles |
5,153,119 |
5,110,834 |
5,153,119 |
5,110,834 | ||||
|
Tier 1 tangible common equity |
$ 6,821,564 |
$ 6,347,918 |
$ 6,821,564 |
$ 6,347,918 | ||||
|
BBVA COMPASS BANCSHARES, INC. | |||||||||||||||
|
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) | |||||||||||||||
|
(Dollars in Thousands) | |||||||||||||||
|
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 |
$ - | |||||||
|
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. | |||||||||||||||
|
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) | |||||||||||||||
|
(Dollars in Thousands) | |||||||||||||||
|
At or Quarter Ended June 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 |
$ 8,399 |
$ 3,520 |
$ 2,311 |
$ 72,606 |
$ 10,491 |
$ 22,268,502 |
$ 22,365,829 |
$ 11,584 | |||||||
|
Real estate – construction |
923 |
418 |
1,138 |
9,401 |
2,244 |
1,778,056 |
1,792,180 |
1,070 | |||||||
|
Commercial real estate – mortgage |
5,675 |
3,358 |
221 |
88,554 |
45,836 |
9,317,448 |
9,461,092 |
4,062 | |||||||
|
Residential real estate – mortgage |
43,219 |
15,305 |
2,332 |
110,077 |
73,329 |
13,111,778 |
13,356,040 |
2,030 | |||||||
|
Equity lines of credit |
9,113 |
4,776 |
2,044 |
35,552 |
- |
2,186,966 |
2,238,451 |
6,204 | |||||||
|
Equity loans |
6,364 |
2,666 |
833 |
19,571 |
42,460 |
537,900 |
609,794 |
1,345 | |||||||
|
Credit card |
5,186 |
3,766 |
8,737 |
- |
- |
619,215 |
636,904 |
8,857 | |||||||
|
Consumer – direct |
8,859 |
1,441 |
2,194 |
282 |
67 |
551,106 |
563,949 |
4,071 | |||||||
|
Consumer – indirect |
24,633 |
4,585 |
1,231 |
1,611 |
- |
2,416,342 |
2,448,402 |
2,614 | |||||||
|
Covered loans |
7,184 |
4,182 |
55,178 |
4,153 |
3,832 |
538,623 |
613,152 |
(3,680) | |||||||
|
Total loans |
$ 119,555 |
$ 44,017 |
$ 76,219 |
$ 341,807 |
$ 178,259 |
$ 53,325,936 |
$ 54,085,793 |
$ 38,157 | |||||||
|
Loans held for sale |
$ 70 |
$ - |
$ - |
$ - |
$ - |
$ 211,809 |
$ 211,879 |
$ - | |||||||
|
At or Quarter Ended March 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 |
$ 10,240 |
$ 2,277 |
$ 1,403 |
$ 103,133 |
$ 21,244 |
$ 21,601,190 |
$ 21,739,487 |
$ (51) | |||||||
|
Real estate – construction |
3,346 |
147 |
1,337 |
10,999 |
2,436 |
1,711,285 |
1,729,550 |
(915) | |||||||
|
Commercial real estate – mortgage |
12,173 |
3,070 |
626 |
106,295 |
59,543 |
9,121,321 |
9,303,028 |
2,023 | |||||||
|
Residential real estate – mortgage |
42,003 |
15,432 |
2,632 |
107,601 |
72,043 |
12,746,663 |
12,986,374 |
6,057 | |||||||
|
Equity lines of credit |
10,249 |
9,068 |
5,285 |
33,178 |
- |
2,161,082 |
2,218,862 |
4,838 | |||||||
|
Equity loans |
8,410 |
3,970 |
825 |
20,130 |
43,078 |
540,349 |
616,762 |
2,119 | |||||||
|
Credit card |
5,742 |
4,254 |
9,965 |
- |
- |
614,305 |
634,266 |
8,679 | |||||||
|
Consumer – direct |
7,375 |
1,509 |
2,814 |
355 |
79 |
501,665 |
513,797 |
3,942 | |||||||
|
Consumer – indirect |
18,980 |
3,569 |
497 |
1,349 |
- |
2,226,493 |
2,250,888 |
3,754 | |||||||
|
Covered loans |
8,088 |
11,378 |
58,106 |
5,557 |
3,856 |
614,173 |
701,158 |
(126) | |||||||
|
Total loans |
$ 126,606 |
$ 54,674 |
$ 83,490 |
$ 388,597 |
$ 202,279 |
$ 51,838,526 |
$ 52,694,172 |
$ 30,320 | |||||||
|
Loans held for sale |
$ - |
$ - |
$ - |
$ - |
$ - |
$ 101,615 |
$ 101,615 |
$ - | |||||||
|
BBVA COMPASS BANCSHARES, INC. | |||||||||||||||
|
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) | |||||||||||||||
|
(Dollars in Thousands) | |||||||||||||||
|
At or Quarter Ended December 31, 2013 | |||||||||||||||
|
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 |
$ 9,485 |
$ 6,111 |
$ 2,212 |
$ 128,231 |
$ 25,548 |
$ 20,037,622 |
$ 20,209,209 |
$ 10,205 | |||||||
|
Real estate – construction |
4,258 |
1,862 |
240 |
14,183 |
3,801 |
1,712,004 |
1,736,348 |
(43) | |||||||
|
Commercial real estate – mortgage |
9,521 |
4,869 |
797 |
129,672 |
59,727 |
8,901,743 |
9,106,329 |
5,980 | |||||||
|
Residential real estate – mortgage |
48,597 |
22,629 |
2,460 |
102,904 |
74,236 |
12,456,053 |
12,706,879 |
8,608 | |||||||
|
Equity lines of credit |
12,230 |
6,252 |
5,109 |
31,431 |
- |
2,181,345 |
2,236,367 |
7,039 | |||||||
|
Equity loans |
7,630 |
3,170 |
1,167 |
20,447 |
42,850 |
568,804 |
644,068 |
2,341 | |||||||
|
Credit card |
5,955 |
4,676 |
10,277 |
- |
- |
639,165 |
660,073 |
7,578 | |||||||
|
Consumer – direct |
8,736 |
3,000 |
2,402 |
540 |
91 |
501,803 |
516,572 |
3,732 | |||||||
|
Consumer – indirect |
24,945 |
5,276 |
1,540 |
1,523 |
- |
2,083,697 |
2,116,981 |
3,494 | |||||||
|
Covered loans |
8,254 |
4,171 |
56,610 |
5,428 |
3,455 |
656,272 |
734,190 |
(5,556) | |||||||
|
Total loans |
$ 139,611 |
$ 62,016 |
$ 82,814 |
$ 434,359 |
$ 209,708 |
$ 49,738,508 |
$ 50,667,016 |
$ 43,378 | |||||||
|
Loans held for sale |
$ - |
$ - |
$ - |
$ 7,359 |
$ - |
$ 139,750 |
$ 147,109 |
$ - | |||||||
|
BBVA COMPASS BANCSHARES, INC. | |||||||||
|
BALANCE SHEET (Unaudited) | |||||||||
|
(Dollars in Thousands) | |||||||||
|
2014 |
2013 | ||||||||
|
December 31, |
September 30, |
June 30, |
March 31, |
December 31, | |||||
|
Assets: |
|||||||||
|
Cash and due from banks |
$ 2,764,345 |
$ 4,643,636 |
$ 3,232,911 |
$ 4,257,226 |
$ 3,563,349 | ||||
|
Federal funds sold, securities purchased under agreements to resell and interest bearing deposits |
624,060 |
271,898 |
31,291 |
16,446 |
35,111 | ||||
|
Cash and cash equivalents |
3,388,405 |
4,915,534 |
3,264,202 |
4,273,672 |
3,598,460 | ||||
|
Trading account assets |
2,834,397 |
515,136 |
356,889 |
342,963 |
319,930 | ||||
|
Investment securities available for sale |
10,237,275 |
9,326,413 |
8,972,237 |
8,533,722 |
8,313,085 | ||||
|
Investment securities held to maturity |
1,348,354 |
1,417,985 |
1,448,192 |
1,493,396 |
1,519,196 | ||||
|
Loans held for sale |
154,816 |
190,882 |
211,879 |
101,615 |
147,109 | ||||
|
Loans |
57,371,784 |
55,009,233 |
54,085,793 |
52,694,172 |
50,667,016 | ||||
|
Allowance for loan losses |
(685,041) |
(695,878) |
(714,760) |
(707,665) |
(700,719) | ||||
|
Net loans |
56,686,743 |
54,313,355 |
53,371,033 |
51,986,507 |
49,966,297 | ||||
|
Premises and equipment, net |
1,351,479 |
1,333,008 |
1,359,750 |
1,387,812 |
1,420,988 | ||||
|
Bank owned life insurance |
694,335 |
695,842 |
691,445 |
687,200 |
683,224 | ||||
|
Goodwill |
5,046,847 |
5,060,924 |
5,076,142 |
5,077,223 |
4,971,645 | ||||
|
Other intangible assets |
70,784 |
82,840 |
95,475 |
107,110 |
109,040 | ||||
|
Other real estate owned |
20,600 |
17,058 |
21,113 |
25,817 |
23,228 | ||||
|
Other assets |
1,318,392 |
1,323,212 |
878,743 |
940,190 |
893,274 | ||||
|
Total assets |
$ 83,152,427 |
$ 79,192,189 |
$ 75,747,100 |
$ 74,957,227 |
$ 71,965,476 | ||||
|
Liabilities: |
|||||||||
|
Deposits: |
|||||||||
|
Noninterest bearing |
$ 17,169,412 |
$ 16,979,235 |
$ 16,321,003 |
$ 16,322,699 |
$ 15,377,844 | ||||
|
Interest bearing |
44,020,304 |
43,291,723 |
41,797,403 |
40,762,511 |
39,059,646 | ||||
|
Total deposits |
61,189,716 |
60,270,958 |
58,118,406 |
57,085,210 |
54,437,490 | ||||
|
FHLB and other borrowings |
4,809,843 |
4,551,050 |
3,958,497 |
4,257,587 |
4,298,707 | ||||
|
Federal funds purchased and securities sold under agreements to repurchase |
1,129,503 |
809,053 |
864,263 |
957,378 |
852,570 | ||||
|
Other short-term borrowings |
2,545,724 |
246,835 |
15,705 |
28,822 |
5,591 | ||||
|
Accrued expenses and other liabilities |
1,474,067 |
1,387,240 |
940,691 |
898,396 |
883,359 | ||||
|
Total liabilities |
71,148,853 |
67,265,136 |
63,897,562 |
63,227,393 |
60,477,717 | ||||
|
Shareholder's Equity: |
|||||||||
|
Common stock — $0.01 par value |
2,230 |
2,230 |
2,230 |
2,230 |
2,207 | ||||
|
Surplus |
15,285,991 |
15,333,316 |
15,383,867 |
15,383,954 |
15,273,218 | ||||
|
Retained deficit |
(3,262,181) |
(3,364,389) |
(3,507,192) |
(3,614,263) |
(3,728,737) | ||||
|
Accumulated other comprehensive loss |
(51,357) |
(73,846) |
(58,295) |
(71,547) |
(87,936) | ||||
|
Total BBVA Compass Bancshares, Inc. shareholder's equity |
11,974,683 |
11,897,311 |
11,820,610 |
11,700,374 |
11,458,752 | ||||
|
Noncontrolling interests |
28,891 |
29,742 |
28,928 |
29,460 |
29,007 | ||||
|
Total shareholder's equity |
12,003,574 |
11,927,053 |
11,849,538 |
11,729,834 |
11,487,759 | ||||
|
Total liabilities and shareholder's equity |
$ 83,152,427 |
$ 79,192,189 |
$ 75,747,100 |
$ 74,957,227 |
$ 71,965,476 | ||||
|
BBVA COMPASS BANCSHARES, INC. | |||||||||
|
INCOME STATEMENT (Unaudited) | |||||||||
|
(Dollars in Thousands) | |||||||||
|
Three Months Ended | |||||||||
|
2014 |
2013 | ||||||||
|
December 31 |
September 30 |
June 30 |
March 31 |
December 31 | |||||
|
Interest income: |
|||||||||
|
Interest and fees on loans |
$ 547,309 |
$ 509,766 |
$ 520,516 |
$ 508,506 |
$ 524,274 | ||||
|
Interest on investment securities available for sale |
45,786 |
48,363 |
48,253 |
49,090 |
44,742 | ||||
|
Interest on investment securities held to maturity |
6,860 |
6,862 |
7,003 |
7,246 |
7,500 | ||||
|
Interest on federal funds sold, securities purchased under agreements to resell and interest bearing deposits |
|||||||||
|
566 |
47 |
42 |
47 |
28 | |||||
|
Interest on trading account assets |
5,696 |
933 |
578 |
516 |
585 | ||||
|
Total interest income |
606,217 |
565,971 |
576,392 |
565,405 |
577,129 | ||||
|
Interest expense: |
|||||||||
|
Interest on deposits |
71,034 |
66,763 |
60,901 |
53,216 |
51,879 | ||||
|
Interest on FHLB and other borrowings |
20,010 |
16,399 |
16,184 |
16,364 |
17,205 | ||||
|
Interest on federal funds purchased and securities sold under agreements to repurchase |
918 |
447 |
437 |
500 |
505 | ||||
|
Interest on other short-term borrowings |
4,802 |
394 |
96 |
26 |
31 | ||||
|
Total interest expense |
96,764 |
84,003 |
77,618 |
70,106 |
69,620 | ||||
|
Net interest income |
509,453 |
481,968 |
498,774 |
495,299 |
507,509 | ||||
|
Provision for loan losses |
19,914 |
3,869 |
45,252 |
37,266 |
26,160 | ||||
|
Net interest income after provision for loan losses |
489,539 |
478,099 |
453,522 |
458,033 |
481,349 | ||||
|
Noninterest income: |
|||||||||
|
Service charges on deposit accounts |
56,799 |
57,537 |
54,958 |
53,391 |
56,812 | ||||
|
Card and merchant processing fees |
26,432 |
28,682 |
28,473 |
24,304 |
25,320 | ||||
|
Retail investment sales |
25,424 |
27,645 |
28,844 |
26,564 |
25,552 | ||||
|
Investment banking and advisory fees |
24,228 |
18,750 |
22,280 |
22,196 |
13,958 | ||||
|
Asset management fees |
10,813 |
10,666 |
10,535 |
10,758 |
9,796 | ||||
|
Corporate and correspondent investment sales |
7,619 |
5,388 |
7,972 |
8,656 |
8,720 | ||||
|
Mortgage banking income |
5,627 |
8,498 |
6,150 |
4,276 |
3,178 | ||||
|
Bank owned life insurance |
5,809 |
4,603 |
4,237 |
3,967 |
4,846 | ||||
|
Investment securities gains, net |
5,434 |
9,710 |
21,464 |
16,434 |
(1,659) | ||||
|
Gain (loss) on prepayment of FHLB and other borrowings |
— |
143 |
— |
(458) |
— | ||||
|
Other |
68,033 |
54,809 |
50,532 |
49,240 |
42,892 | ||||
|
Total noninterest income |
236,218 |
226,431 |
235,445 |
219,328 |
189,415 | ||||
|
Noninterest expense: |
|||||||||
|
Salaries, benefits and commissions |
281,065 |
265,334 |
263,301 |
262,569 |
261,643 | ||||
|
FDIC indemnification expense |
34,313 |
18,748 |
30,370 |
31,618 |
55,453 | ||||
|
Professional services |
59,027 |
52,463 |
49,790 |
46,399 |
58,204 | ||||
|
Equipment |
58,401 |
56,355 |
55,469 |
53,738 |
59,070 | ||||
|
Net occupancy |
39,865 |
39,357 |
40,200 |
38,957 |
40,115 | ||||
|
Marketing |
5,894 |
11,587 |
9,986 |
8,524 |
9,212 | ||||
|
Communications |
6,003 |
5,964 |
6,294 |
6,347 |
7,392 | ||||
|
Amortization of intangibles |
24,556 |
12,635 |
13,631 |
12,534 |
14,305 | ||||
|
Other |
74,357 |
70,699 |
76,221 |
58,181 |
71,277 | ||||
|
Total noninterest expense |
583,481 |
533,142 |
545,262 |
518,867 |
576,671 | ||||
|
Net income before income tax expense |
142,276 |
171,388 |
143,705 |
158,494 |
94,093 | ||||
|
Income tax expense |
39,864 |
27,770 |
36,130 |
43,567 |
24,787 | ||||
|
Net income |
102,412 |
143,618 |
107,575 |
114,927 |
69,306 | ||||
|
Less: net income attributable to noncontrolling interests |
204 |
815 |
504 |
453 |
486 | ||||
|
Net income attributable to shareholder |
$ 102,208 |
$ 142,803 |
$ 107,071 |
$ 114,474 |
$ 68,620 | ||||
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SOURCE BBVA Compass Bancshares, Inc.
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