BBVA Compass reports earnings of $490 million for the full-year of 2015, up five percent

- Noninterest bearing deposit growth 13 percent in the fourth quarter

- Total loans end the quarter at $61.4 billion, up 7 percent from prior year levels

- Total deposits increase 8 percent to $66.0 billion, led by a 12 percent increase in noninterest bearing deposits

- Credit quality metrics remain sound; net charge-off ratio 19 basis points, nonperforming loan ratio at 78 basis points and coverage ratio at 160 percent

- Strong business activity drives 2 percent increase in total revenue; net interest income increases 1 percent while fee-based businesses expand 4 percent

- Expense growth well-contained as disciplined expense management results in 2 percent decline in noninterest expenses

Feb 03, 2016, 09:35 ET from BBVA Compass Bancshares, Inc.

HOUSTON, Feb. 3, 2016 /PRNewswire/ -- BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $490 million for the twelve months of 2015, a five percent increase compared to $467 million earned during the twelve months of 2014. Return on average assets and return on average tangible equity1 for the twelve months of 2015 were 0.56 percent and 6.86 percent, respectively.

Net income attributable to shareholder for the fourth quarter of 2015 was $87 million compared to the $102 million earned during the fourth quarter of 2014. Return on average assets and return on average tangible equity1 for the fourth quarter of 2015 were 0.38 percent and 4.68 percent, respectively.

"Despite the headwinds of a challenging environment, BBVA Compass delivered solid results in 2015 highlighted by outstanding balance sheet growth," said Manolo Sánchez, chairman and CEO of BBVA Compass. "Loan production was robust as we funded nearly $17.3 billion of customer loans, which resulted in a 7 percent increase in our loan portfolio. While total deposits increased 8 percent, growth of noninterest bearing deposits was even more pronounced at 12 percent."

"At the same time, our real-time platform and embracing of digital disruptors is allowing us to lead the charge in the new, digital banking environment our industry is quickly moving toward," said Sánchez. "Today, more so than ever before, providing innovative products and services in real-time will be a critical factor for customers in choosing their bank."

Total revenue increased 2 percent as both net interest income and noninterest income posted positive results. Strong loan and noninterest bearing deposit volume resulted in a 1 percent increase in net interest income while income from fee-based businesses grew 4 percent. Expense growth was well contained as improved efficiencies and disciplined expense management resulted in a 2 percent decrease in total noninterest expenses.

Credit quality measures continued to reflect a strong risk-profile. Net charge-offs as a percentage of average loans were 19 basis points for the full-year of 2015 compared to 22 basis points for the full-year of 2014. The ratio of nonperforming loans to total loans was 0.78 percent at year-end 2015 compared to 0.69 percent at the end of 2014. The coverage ratio that measures the amount of reserves to nonperforming loans remained strong at 160 percent.

"Clearly, our asset quality metrics continue to reflect our commitment to maintaining sound underwriting standards while at the same time expanding our lending relationships with clients," Sánchez said. "As expected, the prolonged period of low energy prices has placed some stress on our energy portfolio, which represents approximately 6 percent of our outstanding loans."

"Our exposure to oilfield services companies who have been most impacted by lower energy prices is very limited, and there were no nonaccrual loans in this portfolio at year-end. And while we have seen an increase in nonaccrual loans in the exploration and production segment, this kind of lending is supported by proven reserves of our clients which include both oil and natural gas. As a result, charge-offs in this portfolio have remained low and the vast majority of loans in this portfolio remain well collateralized."

(Dollars in thousands)

December 31, 2015


December 31, 2014


Outstanding

Nonaccrual


Outstanding

Nonaccrual

Exploration and production

$2,040,748

$91,947


$2,257,012

$     86

Midstream

1,355,503


950,483

Drilling oil & support services

266,871


242,281

5,400

Refineries and terminals

137,904

520


124,228

700

Other

39,200


38,141

   Total energy portfolio

$3,840,226

$92,467


$3,612,145

$6,186

Total shareholder's equity ended the fourth quarter of 2015 at $12.6 billion, a 5 percent increase from $12.0 billion at the end of the fourth quarter of 2014. Each of the company's regulatory capital ratios remain significantly above "well-capitalized" guidelines.

During the fourth quarter, BBVA Compass earned two awards on Money magazine's "Best Banks in America 2015-16" list. BBVA Compass was named the best regional bank in the South and West based on its ClearChoice deposit products. BBVA Compass was also awarded best mobile banking app, which won for its broad array of capabilities and user-friendly interface.

BBVA Compass also became the first major U.S. bank to offer its credit card clients real-time redemption of rewards earned on qualified purchases made at any retailer. The patent-pending innovation was introduced with the latest release of BBVA Wallet, the bank's mobile wallet that gives clients an up-to-minute view of purchases, reward balances and more.

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 was recently named the best regional bank in the South and West, as well as earning best mobile app, in Money magazine's annual list of the Best Bank's in America. 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 December 31,

%

Years ended December 31,

%

2015

2014

 Change 

2015

2014

 Change 

EARNINGS SUMMARY

Net interest income

$        504,085

$         509,453

(1)

$      2,012,963

$      1,985,494

1

Noninterest income [a]

222,467

230,784

(4)

902,833

864,695

4

Total revenue [a]

726,552

740,237

(2)

2,915,796

2,850,189

2

Investment securities gain (loss), net

14,689

5,434

170

81,656

53,042

54

Loss on prepayment of FHLB advances

(1,898)

 NM 

(8,016)

(315)

 NM 

Provision for loan losses

76,307

19,914

283

193,638

106,301

82

Noninterest expense

557,885

583,481

(4)

2,136,490

2,180,752

(2)

Pretax income

105,151

142,276

(26)

659,308

615,863

7

Income tax expense

17,505

39,864

(56)

167,513

147,331

14

Net income

87,646

102,412

(14)

491,795

468,532

5

Net income attributable to noncontrolling interests

490

204

140

2,228

1,976

13

Net income attributable to shareholder

$          87,156

$         102,208

(15)

$         489,567

$         466,556

5

SELECTED RATIOS

Return on average assets

0.38%

0.49%

0.56%

0.60%

Return on average tangible equity [b]

4.68

5.97

6.86

7.03

Average common equity to average assets

13.84

14.52

13.93

15.28

Average loans to average total deposits

94.05

92.31

94.70

93.18

Common equity tier 1 capital (CET1) [c]

10.70

 NA 

10.70

 NA 

Tier I capital ratio [c]

11.08

10.94

11.08

10.94

Total capital ratio [c]

13.68

12.81

13.68

12.81

Leverage ratio [c]

8.95

9.09

8.95

9.09

Average for Three Months

Average for Year Ended

Ending Balance

Ended December 31,

%

Ended December 31,

%

December 31,

%

2015

2014

 Change 

2015

2014

 Change 

2015

2014

 Change 

BALANCE SHEET HIGHLIGHTS

Total loans

$   61,480,854

$    56,419,150

9

$    60,176,687

$    54,423,885

11

$    61,394,666

$    57,526,600

7

Total investment securities

12,186,839

11,023,444

11

11,750,984

10,541,348

11

12,373,196

11,585,629

7

Earning assets

77,968,352

69,447,957

12

76,288,144

65,574,287

16

78,071,231

72,344,332

8

Total assets

90,341,119

82,702,903

9

88,282,486

77,520,755

14

89,965,080

83,152,427

8

Noninterest bearing demand deposits

19,805,668

17,473,984

13

19,015,802

16,633,240

14

19,290,266

17,169,412

12

Interest bearing transaction accounts

31,976,145

30,695,786

4

31,374,727

28,896,496

9

32,620,096

31,176,846

5

Total transaction accounts

51,781,813

48,169,770

7

50,390,529

45,529,736

11

51,910,362

48,346,258

7

Total deposits

65,368,720

61,116,755

7

63,541,384

58,407,635

9

65,980,530

61,189,716

8

Shareholder's equity

12,576,042

12,005,933

5

12,311,963

11,841,999

4

12,577,284

12,003,574

5

[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

December 31

September 30

June 30

March 31

December 31

NONPERFORMING ASSETS

Nonaccrual loans [a]

$     407,045

$      380,930

$  395,350

$  357,539

$     322,654

Loans 90 days or more past due [b]

68,629

73,588

69,710

70,750

71,454

TDRs 90 days or more past due

874

678

1,224

820

1,722

Total nonperforming loans [a]

476,548

455,196

466,284

429,109

395,830

Other real estate owned, net (OREO)

20,862

23,762

20,188

17,764

20,600

Other repossessed assets

8,774

3,331

4,255

3,823

3,920

Total nonperforming assets

$     506,184

$      482,289

$  490,727

$  450,696

$     420,350

TDRs accruing and past due less than 90 days

$     150,038

$      154,397

$  155,592

$  157,252

$     161,261

Covered loans [c]

440,961

458,066

473,842

488,560

495,190

Covered nonperforming loans [c]

38,107

43,192

44,664

45,581

48,071

Covered nonperforming assets [c]

40,217

45,569

47,085

47,598

51,989

Total nonperforming loans as a % of loans

0.78%

0.75%

0.77%

0.73%

0.69%

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

0.72

0.68

0.71

0.66

0.61

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

0.82

0.79

0.81

0.77

0.73

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

0.76

0.72

0.74

0.69

0.65

Three Months Ended

2015

2014

December 31

September 30

June 30

March 31

December 31

ALLOWANCE FOR LOAN LOSSES

Balance at beginning of period

$     722,122

$      721,471

$  701,864

$  685,041

$     695,878

Net charge-offs (NCO)

35,756

28,500

26,542

25,208

30,751

Provision for loan losses

76,307

29,151

46,149

42,031

19,914

Balance at end of period

$     762,673

$      722,122

$  721,471

$  701,864

$     685,041

Allowance for loan losses as a % of total loans

1.24%

1.20%

1.20%

1.20%

1.19%

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

160.04

158.64

154.73

163.56

173.06

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

150.67

149.73

147.02

155.73

162.97

Annualized as a % of average loans:

NCO - QTD

0.23

0.19

0.18

0.17

0.22

NCO - YTD

0.19

0.18

0.18

0.17

0.22

[a]  Includes loans held for sale.

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

[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,

2015

2014

Average Balance

Income/ Expense

Yield/ Rate

Average Balance

Income/ Expense

Yield/ Rate

YIELD/RATE ANALYSIS

(Taxable Equivalent Basis)

Assets

Earning assets:

Loans

$  61,480,854

$  561,790

3.63%

$  56,419,150

$  561,422

3.95%

Investment securities available for sale [a]

10,848,801

49,186

1.80

9,583,937

47,503

1.97

Investment securities held to maturity

1,337,393

10,003

2.97

1,394,926

9,835

2.80

Other earning assets

4,300,659

14,649

1.35

2,005,363

6,262

1.24

Total earning assets [a]

77,967,707

635,628

3.23

69,403,376

625,022

3.57

Allowance for loan losses

(734,031)

(692,839)

Unrealized gain (loss) on securities available for sale

645

44,581

Other assets

13,106,798

13,947,785

Total assets

$  90,341,119

$  82,702,903

Liabilities and Shareholders' Equity

Interest bearing liabilities:

Interest bearing demand deposits

$    7,033,106

$      3,143

0.18

$    7,311,384

$      2,920

0.16

Savings and money market accounts

24,943,039

23,871

0.38

23,384,402

27,750

0.47

Certificates and other time deposits

13,455,462

44,263

1.31

12,783,269

40,280

1.25

Foreign office deposits

131,445

65

0.20

163,716

84

0.20

 Total interest bearing deposits

45,563,052

71,342

0.62

43,642,771

71,034

0.65

FHLB and other borrowings

5,580,514

22,920

1.63

4,799,343

20,010

1.65

Federal funds purchased and securities sold under agreement to repurchase

732,968

2,856

1.55

1,084,679

918

0.34

Other short-term borrowings

4,104,587

15,774

1.52

1,448,610

4,802

1.32

Total interest bearing liabilities

55,981,121

112,892

0.80

50,975,403

96,764

0.75

Noninterest bearing deposits

19,805,668

17,473,984

Other noninterest bearing liabilities

1,978,288

2,247,583

Total liabilities

77,765,077

70,696,970

Shareholder's equity

12,576,042

12,005,933

Total liabilities and shareholder's equity

$  90,341,119

$  82,702,903

Net interest income/ net interest spread

522,736

2.43%

528,258

2.82%

Net yield on earning assets

2.66%

3.02%

Total taxable equivalent adjustment

18,651

18,805

Net interest income

$  504,085

$  509,453

[a] Excludes adjustment for market valuation.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Years Ended December 31,

2015

2014

Average Balance

Income/ Expense

Yield/ Rate

Average Balance

Income/ Expense

Yield/ Rate

YIELD/RATE ANALYSIS

(Taxable Equivalent Basis)

Assets

Earning assets:

Loans

$  60,176,687

$  2,221,093

3.69%

$  54,423,885

$  2,139,429

3.93%

Investment securities available for sale [a]

10,358,764

195,769

1.89

9,052,396

198,732

2.20

Investment securities held to maturity

1,359,013

39,785

2.93

1,447,636

40,145

2.77

Other earning assets

4,360,473

56,544

0.01

609,054

8,434

0.01

Total earning assets [a]

76,254,937

2,513,191

3.30

65,532,971

2,386,740

3.64

Allowance for loan losses

(714,157)

(703,902)

Unrealized gain (loss) on securities available for sale

33,207

41,316

Other assets

12,708,499

12,650,370

  Total assets

$  88,282,486

$  77,520,755

Liabilities and Shareholders' Equity

Interest bearing liabilities:

   Interest bearing demand deposits

$    7,218,956

12,011

0.17

$    7,280,418

11,986

0.16

   Savings and money market accounts

24,155,771

94,336

0.39

21,616,078

87,672

0.41

   Certificates and other time deposits

12,989,789

167,809

1.29

12,745,974

151,997

1.19

   Foreign office deposits

161,066

322

0.20

131,925

259

0.20

     Total interest bearing deposits

44,525,582

274,478

0.62

41,774,395

251,914

0.60

FHLB and other borrowings

5,701,974

89,988

1.58

4,254,352

68,957

1.62

Federal funds purchased and securities sold under agreement to repurchase

807,677

8,390

1.04

935,439

2,302

0.25

Other short-term borrowings

4,006,716

52,442

1.31

385,461

5,318

1.38

Total interest bearing liabilities

55,041,949

425,298

0.77

47,349,647

328,491

0.69

Noninterest bearing deposits

19,015,802

16,633,240

Other noninterest bearing liabilities

1,912,772

1,695,869

  Total liabilities

75,970,523

65,678,756

Shareholder's equity

12,311,963

11,841,999

  Total liabilities and shareholder's equity

$  88,282,486

$  77,520,755

Net interest income/ net interest spread

2,087,893

2.53%

2,058,249

2.95%

Net yield on earning assets

2.74%

3.14%

Total taxable equivalent adjustment

74,930

72,755

Net interest income

$  2,012,963

$  1,985,494

[a] Excludes adjustment for market valuation.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Year Ended

Three Months Ended

December 31,

%

2015

2014

2015

2014

 Change 

December 31

September 30

June 30

March 31

December 31

NONINTEREST INCOME

Service charges on deposit accounts

$     216,248

$     222,685

(3)

$       54,357

$        54,917

$    53,690

$    53,284

$       56,799

Card and merchant processing fees

112,818

107,891

5

28,900

29,024

28,711

26,183

26,432

Retail investment sales

101,614

108,477

(6)

24,040

26,055

26,373

25,146

25,424

Investment banking and advisory fees

105,235

87,454

20

20,260

17,842

36,799

30,334

24,228

Asset management fees

33,194

42,772

(22)

8,745

7,918

8,435

8,096

10,813

Corporate and correspondent investment sales

30,000

29,635

1

9,710

6,047

7,984

6,259

7,619

Mortgage banking income

27,258

24,551

11

5,989

554

12,556

8,159

5,627

Bank owned life insurance

18,662

18,616

5,135

4,345

4,394

4,788

5,809

Other

257,804

222,614

16

65,331

79,938

55,797

56,738

68,033

902,833

864,695

4

222,467

226,640

234,739

218,987

230,784

Investment securities gains, net

81,656

53,042

54

14,689

6,736

27,399

32,832

5,434

Loss on prepayment of FHLB and other borrowings

(8,016)

(315)

 NM 

(1,898)

(3,569)

(2,549)

Total noninterest income

$     976,473

$     917,422

6

$     235,258

$      233,376

$  258,569

$  249,270

$     236,218

NONINTEREST EXPENSE

Salaries, benefits and commissions

$  1,071,196

$  1,072,269

$     274,863

$      268,362

$  268,709

$  259,262

$     281,065

FDIC indemnification expense

55,129

115,049

(52)

5,460

8,461

12,419

28,789

34,313

Professional services

216,325

207,679

4

63,863

54,784

51,119

46,559

59,027

Equipment

230,960

223,963

3

57,493

58,151

57,175

58,141

58,401

Net occupancy

160,309

158,379

1

41,122

39,525

40,382

39,280

39,865

Marketing

41,770

35,991

16

9,440

10,624

11,618

10,088

5,894

Communications

21,980

24,608

(11)

5,286

5,682

5,245

5,767

6,003

Amortization of intangibles

39,208

50,856

(23)

9,125

9,507

9,889

10,687

24,556

Other

299,613

291,958

3

91,233

81,154

63,080

64,146

74,357

Total noninterest expense

$  2,136,490

$  2,180,752

(2)

$     557,885

$      536,250

$  519,636

$  522,719

$     583,481

NM = Not meaningful

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Three Months Ended December 31,

Years Ended December 31,

2015

2014

2015

2014

NON-GAAP RECONCILIATION

Computation of Average Tangible Equity:

Total stockholder's equity (average)

$      12,576,042

$      12,005,933

$  12,311,963

$  11,841,999

Less: Goodwill and other intangibles (average)

5,139,183

5,198,332

5,146,362

5,175,940

Average tangible equity [B]

$        7,436,859

$        6,807,601

$    7,165,601

$    6,666,059

Net income [A]

87,646

102,208

491,795

466,556

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

4.68%

5.97%

6.86%

7.03%

 

BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)

December 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

$                          8,197

$                          4,215

$                 3,567

$       161,591

$              9,402

$       25,835,402

$       26,022,374

$                3,345

Real estate – construction

2,864

91

421

5,908

2,247

2,342,722

2,354,253

(423)

Commercial real estate –  mortgage

3,843

1,461

2,237

69,953

33,904

10,341,882

10,453,280

1,260

Residential real estate – mortgage

47,323

19,540

1,961

113,234

67,343

13,743,884

13,993,285

1,269

Equity lines of credit

8,263

4,371

2,883

35,023

-

2,369,275

2,419,815

1,382

Equity loans

6,356

2,194

704

15,614

37,108

518,828

580,804

238

Credit card

5,563

4,622

9,718

-

-

607,456

627,359

7,299

Consumer – direct

7,648

3,801

3,537

561

908

920,416

936,871

6,126

Consumer – indirect

73,438

17,167

5,629

5,027

-

3,393,821

3,495,082

14,548

Covered loans

4,862

3,454

37,972

134

-

394,539

440,961

712

Total loans

$                     168,357

$                       60,916

$               68,629

$       407,045

$          150,912

$       60,468,225

$       61,324,084

$              35,756

Loans held for sale

$                             227

$                                 -

$                        -

$                   -

$                     -

$               70,355

$               70,582

$                       -

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

$                       -

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

$                       -

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.

BALANCE SHEET (Unaudited)

(Dollars in Thousands)

2015

2014

December 31,

September 30,

June 30,

March 31,

December 31,

Assets:

Cash and due from banks

$    4,121,944

$      3,898,257

$    3,353,177

$    3,664,182

$    2,764,345

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

330,948

479,207

512,244

300,175

624,060

Cash and cash equivalents

4,452,892

4,377,464

3,865,421

3,964,357

3,388,405

Trading account assets

4,138,132

4,193,506

4,879,125

3,680,427

2,834,397

Investment securities available for sale

11,050,520

10,803,660

10,392,484

10,101,828

10,237,275

Investment securities held to maturity

1,322,676

1,357,801

1,375,075

1,373,542

1,348,354

Loans held for sale

70,582

634,158

195,616

198,488

154,816

Loans

61,324,084

60,287,221

60,007,226

58,558,463

57,371,784

Allowance for loan losses

(762,673)

(722,122)

(721,471)

(701,864)

(685,041)

Net loans

60,561,411

59,565,099

59,285,755

57,856,599

56,686,743

Premises and equipment, net

1,320,163

1,309,009

1,315,020

1,332,539

1,351,479

Bank owned life insurance

700,285

697,023

698,773

694,370

694,335

Goodwill

5,043,197

5,060,197

5,060,161

5,046,847

5,046,847

Other intangible assets

31,576

40,701

50,208

60,097

70,784

Other real estate owned

20,862

23,762

20,188

17,764

20,600

Other assets

1,252,784

1,297,620

1,332,923

1,148,883

1,318,392

Total assets

$  89,965,080

$   89,360,000

$ 88,470,749

$ 85,475,741

$  83,152,427

Liabilities:

Deposits:

Noninterest bearing

$  19,290,266

$   19,060,016

$ 19,048,273

$ 18,599,702

$  17,169,412

Interest bearing

46,690,264

45,432,380

43,451,096

44,300,979

44,020,304

Total deposits

65,980,530

64,492,396

62,499,369

62,900,681

61,189,716

FHLB and other borrowings

5,438,620

6,216,425

6,778,066

4,919,141

4,809,843

Federal funds purchased and securities sold under agreements to repurchase

750,154

639,259

623,400

909,683

1,129,503

Other short-term borrowings

4,032,644

4,167,897

4,982,154

3,377,694

2,545,724

Accrued expenses and other liabilities

1,185,848

1,463,688

1,360,698

1,206,612

1,474,067

Total liabilities

77,387,796

76,979,665

76,243,687

73,313,811

71,148,853

Shareholder's Equity:

Preferred Stock

229,475

Common stock — $0.01 par value

2,230

2,230

2,230

2,230

2,230

Surplus

15,188,474

15,246,072

15,245,414

15,278,877

15,285,991

Retained deficit

(2,772,614)

(2,859,770)

(2,985,011)

(3,121,071)

(3,262,181)

Accumulated other comprehensive loss

(99,307)

(37,789)

(64,672)

(27,654)

(51,357)

Total BBVA Compass Bancshares, Inc. shareholder's equity

12,548,258

12,350,743

12,197,961

12,132,382

11,974,683

Noncontrolling interests

29,026

29,592

29,101

29,548

28,891

Total shareholder's equity

12,577,284

12,380,335

12,227,062

12,161,930

12,003,574

Total liabilities and shareholder's equity

$  89,965,080

$   89,360,000

$ 88,470,749

$ 85,475,741

$  83,152,427

 

BBVA COMPASS BANCSHARES, INC.

INCOME STATEMENT (Unaudited)

(Dollars in Thousands)

Three Months Ended

2015

2014

December 31

September 30

June 30

March 31

December 31

Interest income:

Interest and fees on loans

$       546,392

$        540,517

$ 531,394

$ 543,842

$       547,309

Interest on investment securities available for sale

49,066

46,646

48,204

48,208

45,786

Interest on investment securities held to maturity

6,870

6,953

6,924

6,702

6,860

Interest on federal funds sold, securities purchased under agreements to resell 

    and interest bearing deposits

1,591

1,659

1,362

996

566

Interest on trading account assets

13,058

14,431

13,832

9,614

5,696

Total interest income

616,977

610,206

601,716

609,362

606,217

Interest expense:

Interest on deposits

71,342

68,282

65,201

69,653

71,034

Interest on FHLB and other borrowings

22,920

20,422

27,540

19,106

20,010

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

2,856

2,506

1,702

1,326

918

Interest on other short-term borrowings

15,774

11,129

15,291

10,248

4,802

Total interest expense

112,892

102,339

109,734

100,333

96,764

Net interest income

504,085

507,867

491,982

509,029

509,453

Provision for loan losses

76,307

29,151

46,149

42,031

19,914

Net interest income after provision for loan losses

427,778

478,716

445,833

466,998

489,539

Noninterest income:

Service charges on deposit accounts

54,357

54,917

53,690

53,284

56,799

Card and merchant processing fees

28,900

29,024

28,711

26,183

26,432

Retail investment sales

24,040

26,055

26,373

25,146

25,424

Investment banking and advisory fees

20,260

17,842

36,799

30,334

24,228

Asset management fees

8,745

7,918

8,435

8,096

10,813

Corporate and correspondent investment sales

9,710

6,047

7,984

6,259

7,619

Mortgage banking income

5,989

554

12,556

8,159

5,627

Bank owned life insurance

5,135

4,345

4,394

4,788

5,809

Investment securities gains, net

14,689

6,736

27,399

32,832

5,434

Loss on prepayment of FHLB and other borrowings

(1,898)

(3,569)

(2,549)

Other

65,331

79,938

55,797

56,738

68,033

Total noninterest income

235,258

233,376

258,569

249,270

236,218

Noninterest expense:

Salaries, benefits and commissions

274,863

268,362

268,709

259,262

281,065

FDIC indemnification expense

5,460

8,461

12,419

28,789

34,313

Professional services

63,863

54,784

51,119

46,559

59,027

Equipment

57,493

58,151

57,175

58,141

58,401

Net occupancy

41,122

39,525

40,382

39,280

39,865

Marketing

9,440

10,624

11,618

10,088

5,894

Communications

5,286

5,682

5,245

5,767

6,003

Amortization of intangibles

9,125

9,507

9,889

10,687

24,556

Other

91,233

81,154

63,080

64,146

74,357

Total noninterest expense

557,885

536,250

519,636

522,719

583,481

Net income before income tax expense

105,151

175,842

184,766

193,549

142,276

Income tax expense

17,505

50,110

48,116

51,782

39,864

Net income

87,646

125,732

136,650

141,767

102,412

Less: net income attributable to noncontrolling interests

490

491

590

657

204

Net income attributable to shareholder

$         87,156

$        125,241

$ 136,060

$ 141,110

$       102,208

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

 

SOURCE BBVA Compass Bancshares, Inc.



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