BBVA Compass Bancshares, Inc. reports earnings of $277 million for first half of 2015

- Total loans end the quarter at $60.2 billion, up 11 percent from prior year levels

- Total deposits increase 8 percent to $62.5 billion, spurred by a 17 percent increase in noninterest bearing deposits

- Total revenue increases 3 percent, fueled by a 9 percent increase in income from fee-based businesses; disciplined expense management drives 2 percent decline in expenses

- Key credit quality metrics remain healthy; net charge-off ratio at 18 basis points, nonperforming loan ratio at 77 basis points and coverage ratio strong at 155 percent

- Second quarter earnings increase 27 percent from prior year levels

Jul 31, 2015, 09:32 ET from BBVA Compass Bancshares, Inc.

HOUSTON, July 31, 2015 /PRNewswire/ -- BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $277 million for the first six months of 2015, a 25 percent increase compared to $222 million earned during the first six months of 2014. Return on average assets and return on average tangible equity1 for the first six months of 2015 were 0.65 percent and 7.99 percent, respectively.

Net income attributable to shareholder for the second quarter of 2015 was $136 million, a 27 percent increase from the $107 million earned during the second quarter of 2014. Return on average assets and return on average tangible equity1 for the second quarter of 2015 were 0.62 percent and 7.74 percent, respectively.

"BBVA Compass delivered strong results highlighted by robust balance sheet growth and positive revenue generation," said Manolo Sanchez, chairman and CEO of BBVA Compass. "Strong commercial activity was the driver behind the 11 percent increase in total loans while total deposits increased eight percent, spurred by a 17 percent increase in noninterest bearing demand deposits."

"Moreover, this growth reflects the tremendous transformation at BBVA Compass that has allowed us to expand our capabilities, while simultaneously providing our customers the real-time solutions they desired," Sanchez said. "Digital change is coming to the banking industry, just as it has to many others, and we are committed to being at the forefront, serving a broader array of clients with a broader array of banking solutions."

Total revenue increased three percent as both net interest income and noninterest income posted positive results. Net interest income increased one percent from prior year levels while income from fee-based businesses grew nine percent. At the same time, expenses were well contained as noninterest expense declined two percent.

Sanchez noted that strong balance sheet growth occurred while maintaining sound risk standards. Net charge-offs as a percentage of average loans at 18 basis points for the first half of 2015 are at historical lows, while the ratio of nonperforming loans to total loans at 77 basis points is unchanged from year ago levels. At the same time, the coverage ratio of nonperforming loans remains strong at 155 percent.

"All of our portfolios continue to perform well and within our expectations, including our energy portfolio," Sanchez said. "Energy represents less than six percent of our total loans outstanding and is well-diversified between oil and gas. While energy prices at current levels present a challenge to the energy sector, at this point we have not seen any deterioration in our portfolio that gives us undue concern."

"Equally important, energy companies overall are proactively managing their financial position to adjust to this period of sustained low energy prices. Having been in this business since 1994, we believe our seasoned, in-house team of lenders and engineers have built a conservatively underwritten and well-collateralized portfolio designed to withstand the various cycles experienced by this sector."

Total shareholder's equity ended the second quarter of 2015 at $12.2 billion, a three percent increase from $11.8 billion at the end of the second quarter of 2014. Each of the company's regulatory capital ratios remain significantly above 'well-capitalized' guidelines.

During the second quarter BBVA Compass launched BBVA Compass ClearChoice Free Checking, the first product to roll out under the bank's new "banking on a brighter future" tagline. The account features no monthly service charge, no minimum balance requirements, unlimited check writing, complimentary online and mobile banking with bill pay, mobile alerts and other features.

BBVA Compass also announced the launch of BBVA Wallet, a digital wallet that gives customers a convenient way to monitor and safeguard their BBVA Compass credit and debit cards. BBVA Wallet provides customers a real-time view of their card transactions and the ability to temporarily or permanently deactivate lost or stolen credit cards. The service is available as an app for both iPhone and Android devices.

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 (5th). 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 June 30,

%

Six Months Ended June 30,

%

2015

2014

 Change 

2015

2014

 Change 

EARNINGS SUMMARY

Net interest income

$       491,982

$       498,774

(1)

$    1,001,011

$       994,073

1

Noninterest income [a]

234,739

213,981

10

453,726

417,333

9

Total revenue [a]

726,721

712,755

2

1,454,737

1,411,406

3

Investment securities gain, net

27,399

21,464

28

60,231

37,898

59

Loss on prepayment of FHLB advances

(3,569)

 NM 

(6,118)

(458)

 NM 

Provision for loan losses

46,149

45,252

2

88,180

82,518

7

Noninterest expense

519,636

545,262

(5)

1,042,355

1,064,129

(2)

Pretax income

184,766

143,705

29

378,315

302,199

25

Income tax expense

48,116

36,130

33

99,898

79,697

25

Net income

136,650

107,575

27

278,417

222,502

25

Net income attributable to noncontrolling interests

590

504

17

1,247

957

30

Net income attributable to shareholder

$       136,060

$       107,071

27

$       277,170

$       221,545

25

SELECTED RATIOS

Return on average assets

0.62 %

0.57 %

0.65 %

0.60 %

Return on average tangible equity [b]

7.74

6.52

7.99

6.85

Average common equity to average assets

13.92

15.56

14.08

15.69

Average loans to average total deposits

95.41

93.70

95.04

93.89

Tier I capital ratio [c]

10.59

11.27

10.59

11.27

Total capital ratio [c]

13.24

13.34

13.24

13.34

Leverage ratio [c]

8.74

9.68

8.74

9.68

Average for Three Months

Average for Six Months

Ending Balance

Ended June 30,

%

Ended June 30,

%

June 30,

%

2015

2014

 Change 

2015

2014

 Change 

2015

2014

 Change 

BALANCE SHEET HIGHLIGHTS

Total loans

$  59,746,217

$  53,924,258

11

$  59,282,211

$  52,939,163

12

$  60,202,842

$  54,297,672

11

Total investment securities

11,536,999

10,342,192

12

11,461,944

10,269,762

12

11,767,559

10,420,429

13

Earning assets

76,072,410

64,375,186

18

74,886,131

63,316,324

18

77,170,603

64,864,449

19

Total assets

87,865,950

76,004,941

16

86,484,229

74,689,351

16

88,470,749

75,747,100

17

Noninterest bearing demand deposits

18,988,231

16,342,035

16

18,463,787

15,999,415

15

19,048,273

16,321,003

17

Interest bearing transaction accounts

30,727,865

28,211,266

9

31,074,124

27,645,278

12

30,448,569

28,629,221

6

Total transaction accounts

49,716,096

44,553,301

12

49,537,911

43,644,693

14

49,496,842

44,950,224

10

Total deposits

62,622,309

57,549,565

9

62,373,147

56,386,091

11

62,499,369

58,118,406

8

Shareholder's equity

12,233,122

11,823,834

3

12,175,099

11,720,415

4

12,227,062

11,849,538

3

[a]  Excludes net gain on sales of investment securities and 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

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

2015

2014

June 30

March 31

December 31

September 30

June 30

NONPERFORMING ASSETS

Nonaccrual loans [b]

$  395,350

$  357,539

$     322,654

$      344,937

$  341,807

Loans 90 days or more past due [a]

69,710

70,750

71,454

76,196

76,219

TDRs 90 days or more past due

1,224

820

1,722

991

629

Total nonperforming loans [b]

466,284

429,109

395,830

422,124

418,655

Other real estate owned, net (OREO)

20,188

17,764

20,600

17,058

21,113

Other repossessed assets

4,255

3,823

3,920

3,618

2,796

Total nonperforming assets

$  490,727

$  450,696

$     420,350

$      442,800

$  442,564

TDRs accruing and past due less than 90 days

$  155,592

$  157,252

$     161,261

$      170,789

$  177,630

Covered loans [c]

473,842

488,560

495,190

580,756

613,152

Covered nonperforming loans [c]

44,664

45,581

48,071

56,221

59,331

Covered nonperforming assets [c]

47,085

47,598

51,989

59,609

62,824

Total nonperforming loans as a % of loans

0.77 %

0.73 %

0.69 %

0.76 %

0.77 %

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

0.71

0.66

0.61

0.67

0.67

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

0.81

0.77

0.73

0.80

0.81

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

0.74

0.69

0.65

0.70

0.71

Three Months Ended

2015

2014

June 30

March 31

December 31

September 30

June 30

ALLOWANCE FOR LOAN LOSSES

Balance at beginning of period

$  701,864

$  685,041

$     695,878

$      714,760

$  707,665

Net charge-offs (NCO)

26,542

25,208

30,751

22,751

38,157

Provision for loan losses

46,149

42,031

19,914

3,869

45,252

Balance at end of period

$  721,471

$  701,864

$     685,041

$      695,878

$  714,760

Allowance for loan losses as a % of total loans

1.20 %

1.20 %

1.19 %

1.27 %

1.32 %

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

154.73

163.56

173.06

164.85

170.73

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

147.02

155.73

162.97

157.15

161.50

Annualized as a % of average loans:

NCO - QTD

0.18

0.17

0.22

0.16

0.28

NCO - YTD

0.18

0.17

0.22

0.23

0.26

[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 June 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

$  59,746,217

$  545,701

3.66 %

$  53,924,258

$  533,572

3.97 %

Investment securities available for sale [a]

10,108,556

49,493

1.96

8,833,591

50,085

2.27

Investment securities held to maturity

1,371,906

10,000

2.92

1,463,642

10,066

2.76

Other earning assets

4,789,194

15,195

1.27

108,736

622

2.29

Total earning assets [a]

76,015,873

620,389

3.27

64,330,227

594,345

3.71

Allowance for loan losses

(704,594)

(707,222)

Unrealized gain (loss) on securities available for sale

56,537

44,959

Other assets

12,498,134

12,336,977

Total assets

$  87,865,950

$  76,004,941

Liabilities and Shareholder's Equity

Interest bearing liabilities:

Interest bearing demand deposits

$    7,268,321

$      2,888

0.16

$    7,244,052

$      3,098

0.17

Savings and money market accounts

23,459,544

21,307

0.36

20,967,214

20,000

0.38

Certificates and other time deposits

12,719,337

40,911

1.29

12,876,734

37,748

1.18

Foreign office deposits

186,876

95

0.20

119,530

55

0.18

Total interest bearing deposits

43,634,078

65,201

0.60

41,207,530

60,901

0.59

FHLB and other borrowings

6,000,934

27,540

1.84

4,100,456

16,184

1.58

Federal funds purchased and securities sold under agreement to repurchase

884,282

1,702

0.77

876,593

437

0.20

Other short-term borrowings

4,387,467

15,291

1.40

17,282

96

2.23

Total interest bearing liabilities

54,906,761

109,734

0.80

46,201,861

77,618

0.67

Noninterest bearing deposits

18,988,231

16,342,035

Other noninterest bearing liabilities

1,737,836

1,637,211

Total liabilities

75,632,828

64,181,107

Shareholder's equity

12,233,122

11,823,834

Total liabilities and shareholder's equity

$  87,865,950

$  76,004,941

Net interest income/ net interest spread

510,655

2.47 %

516,727

3.04 %

Net yield on earning assets

2.69 %

3.22 %

Total taxable equivalent adjustment

18,673

17,953

Net interest income

$  491,982

$  498,774

[a] Excludes adjustment for market valuation.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Six Months Ended June 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

$  59,282,211

$  1,103,590

3.75 %

$  52,939,163

$  1,054,164

4.02 %

Investment securities available for sale [a]

10,033,989

99,223

1.99

8,743,587

101,079

2.33

Investment securities held to maturity

1,366,182

19,663

2.90

1,484,405

20,439

2.78

Other earning assets

4,141,976

25,805

1.26

107,399

1,188

2.23

Total earning assets [a]

74,824,358

1,248,281

3.36

63,274,554

1,176,870

3.75

Allowance for loan losses

(698,100)

(704,997)

Unrealized gain (loss) on securities available for sale

61,773

41,770

Other assets

12,296,198

12,078,024

Total assets

$  86,484,229

$  74,689,351

Liabilities and Shareholders' Equity

Interest bearing liabilities:

Interest bearing demand deposits

$    7,450,170

5,925

0.16

$    7,366,899

6,095

0.17

Savings and money market accounts

23,623,954

48,205

0.41

20,278,379

35,666

0.35

Certificates and other time deposits

12,667,221

80,556

1.28

12,620,073

72,239

1.15

Foreign office deposits

168,015

168

0.20

121,325

117

0.19

Total interest bearing deposits

43,909,360

134,854

0.62

40,386,676

114,117

0.57

FHLB and other borrowings

5,443,890

46,646

1.74

4,194,210

32,548

1.57

Federal funds purchased and securities sold under agreement to repurchase

911,894

3,028

0.67

908,703

937

0.21

Other short-term borrowings

3,772,277

25,539

1.37

14,931

122

1.65

Total interest bearing liabilities

54,037,421

210,067

0.79

45,504,520

147,724

0.66

Noninterest bearing deposits

18,463,787

15,999,415

Other noninterest bearing liabilities

1,807,922

1,465,001

Total liabilities

74,309,130

62,968,936

Shareholder's equity

12,175,099

11,720,415

Total liabilities and shareholder's equity

$  86,484,229

$  74,689,351

Net interest income/ net interest spread

1,038,214

2.57 %

1,029,146

3.09 %

Net yield on earning assets

2.80 %

3.28 %

Total taxable equivalent adjustment

37,203

35,073

Net interest income

$  1,001,011

$     994,073

[a] Excludes adjustment for market valuation.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Six Months

Three Months Ended

Ended June 30,

%

2015

2014

2015

2014

 Change 

June 30

March 31

December 31

September 30

June 30

NONINTEREST INCOME

Service charges on deposit accounts

$     106,974

$     108,349

(1)

$    53,690

$    53,284

$       56,799

$        57,537

$    54,958

Card and merchant processing fees

54,894

52,777

4

28,711

26,183

26,432

28,682

28,473

Retail investment sales

51,519

55,408

(7)

26,373

25,146

25,424

27,645

28,844

Investment banking and advisory fees

67,133

44,475

51

36,799

30,334

24,229

18,750

22,279

Asset management fees

16,531

21,293

(22)

8,435

8,096

10,813

10,666

10,535

Corporate and correspondent investment sales

14,243

16,628

(14)

7,984

6,259

7,619

5,388

7,972

Mortgage banking income

20,715

10,426

99

12,556

8,159

5,627

8,498

6,150

Bank owned life insurance

9,182

8,204

12

4,394

4,788

5,809

4,603

4,237

Other

112,535

99,773

13

55,797

56,738

68,032

54,809

50,533

453,726

417,333

9

234,739

218,987

230,784

216,578

213,981

Investment securities gains, net

60,231

37,898

59

27,399

32,832

5,434

9,710

21,464

Loss on prepayment of FHLB and other borrowings

(6,118)

(458)

 NM 

(3,569)

(2,549)

143

Total noninterest income

$     507,839

$     454,773

12

$  258,569

$  249,270

$     236,218

$      226,431

$  235,445

NONINTEREST EXPENSE

Salaries, benefits and commissions

$     527,971

$     525,870

$  268,709

$  259,262

$     281,065

$      265,334

$  263,301

FDIC indemnification expense

41,208

61,988

(34)

12,419

28,789

34,313

18,748

30,370

Professional services

97,678

96,189

2

51,119

46,559

59,027

52,463

49,790

Equipment

115,316

109,207

6

57,175

58,141

58,401

56,355

55,469

Net occupancy

79,662

79,157

1

40,382

39,280

39,865

39,357

40,200

Marketing

21,706

18,510

17

11,618

10,088

5,894

11,587

9,986

Communications

11,012

12,641

(13)

5,245

5,767

6,003

5,964

6,294

Amortization of intangibles

20,576

26,165

(21)

9,889

10,687

24,556

12,635

13,631

Other

127,226

134,402

(5)

63,080

64,146

74,357

70,699

76,221

Total noninterest expense

$  1,042,355

$  1,064,129

(2)

$  519,636

$  522,719

$     583,481

$      533,142

$  545,262

NM = Not meaningful

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2015

2014

2015

2014

NON-GAAP RECONCILIATION

Computation of Average Tangible Equity:

Total stockholder's equity (average)

$          12,233,122

$          11,823,834

$          12,175,099

$          11,720,415

Less: Goodwill and other intangibles (average)

5,150,763

5,209,795

5,149,182

5,165,917

Average tangible equity [B]

$            7,082,359

$            6,614,039

$            7,025,917

$            6,554,498

Net income [A]

$              136,650

$              107,575

$              278,417

$              222,502

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

7.74 %

6.52 %

7.99 %

6.85 %

 

BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)

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

$                       -

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

$                       -

 

BBVA COMPASS BANCSHARES, INC.

BALANCE SHEET (Unaudited)

(Dollars in Thousands)

2015

2014

June 30

March 31

December 31

September 30

June 30

Assets:

Cash and due from banks

$    3,353,177

$    3,664,182

$    2,764,345

$     4,643,636

$    3,232,911

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

512,244

300,175

624,060

271,898

31,291

Cash and cash equivalents

3,865,421

3,964,357

3,388,405

4,915,534

3,264,202

Trading account assets

4,879,125

3,680,427

2,834,397

515,136

356,889

Investment securities available for sale

10,392,484

10,101,828

10,237,275

9,326,413

8,972,237

Investment securities held to maturity

1,375,075

1,373,542

1,348,354

1,417,985

1,448,192

Loans held for sale

195,616

198,488

154,816

190,882

211,879

Loans

60,007,226

58,558,463

57,371,784

55,009,233

54,085,793

Allowance for loan losses

(721,471)

(701,864)

(685,041)

(695,878)

(714,760)

Net loans

59,285,755

57,856,599

56,686,743

54,313,355

53,371,033

Premises and equipment, net

1,315,020

1,332,539

1,351,479

1,333,008

1,359,750

Bank owned life insurance

698,773

694,370

694,335

695,842

691,445

Goodwill

5,060,161

5,046,847

5,046,847

5,060,924

5,076,142

Other intangible assets

50,208

60,097

70,784

82,840

95,475

Other real estate owned

20,188

17,764

20,600

17,058

21,113

Other assets

1,332,923

1,148,883

1,318,392

1,323,212

878,743

Total assets

$ 88,470,749

$ 85,475,741

$ 83,152,427

$  79,192,189

$ 75,747,100

Liabilities:

Deposits:

Noninterest bearing

$ 19,048,273

$ 18,599,702

$ 17,169,412

$  16,979,235

$ 16,321,003

Interest bearing

43,451,096

44,300,979

44,020,304

43,291,723

41,797,403

Total deposits

62,499,369

62,900,681

61,189,716

60,270,958

58,118,406

FHLB and other borrowings

6,778,066

4,919,141

4,809,843

4,551,050

3,958,497

Federal funds purchased and securities sold under agreements to repurchase

623,400

909,683

1,129,503

809,053

864,263

Other short-term borrowings

4,982,154

3,377,694

2,545,724

246,835

15,705

Accrued expenses and other liabilities

1,360,698

1,206,612

1,474,067

1,387,240

940,691

Total liabilities

76,243,687

73,313,811

71,148,853

67,265,136

63,897,562

Shareholder's Equity:

Common stock — $0.01 par value

2,230

2,230

2,230

2,230

2,230

Surplus

15,245,414

15,278,877

15,285,991

15,333,316

15,383,867

Retained deficit

(2,985,011)

(3,121,071)

(3,262,181)

(3,364,389)

(3,507,192)

Accumulated other comprehensive loss

(64,672)

(27,654)

(51,357)

(73,846)

(58,295)

Total BBVA Compass Bancshares, Inc. shareholder's equity

12,197,961

12,132,382

11,974,683

11,897,311

11,820,610

Noncontrolling interests

29,101

29,548

28,891

29,742

28,928

Total shareholder's equity

12,227,062

12,161,930

12,003,574

11,927,053

11,849,538

Total liabilities and shareholder's equity

$ 88,470,749

$ 85,475,741

$ 83,152,427

$  79,192,189

$ 75,747,100

 

BBVA COMPASS BANCSHARES, INC.

INCOME STATEMENT (Unaudited)

(Dollars in Thousands)

Three Months Ended

2015

2014

June 30

March 31

December 31

September 30

June 30

Interest income:

Interest and fees on loans

$ 531,394

$ 543,842

$       547,309

$        509,766

$ 520,516

Interest on investment securities available for sale

48,204

48,208

45,786

48,363

48,253

Interest on investment securities held to maturity

6,924

6,702

6,860

6,862

7,003

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

1,362

996

566

47

42

Interest on trading account assets

13,832

9,614

5,696

933

578

Total interest income

601,716

609,362

606,217

565,971

576,392

Interest expense:

Interest on deposits

65,201

69,653

71,034

66,763

60,901

Interest on FHLB and other borrowings

27,540

19,106

20,010

16,399

16,184

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

1,702

1,326

918

447

437

Interest on other short-term borrowings

15,291

10,248

4,802

394

96

Total interest expense

109,734

100,333

96,764

84,003

77,618

Net interest income

491,982

509,029

509,453

481,968

498,774

Provision for loan losses

46,149

42,031

19,914

3,869

45,252

Net interest income after provision for loan losses

445,833

466,998

489,539

478,099

453,522

Noninterest income:

Service charges on deposit accounts

53,690

53,284

56,799

57,537

54,958

Card and merchant processing fees

28,711

26,183

26,432

28,682

28,473

Retail investment sales

26,373

25,146

25,424

27,645

28,844

Investment banking and advisory fees

36,799

30,334

24,228

18,750

22,280

Asset management fees

8,435

8,096

10,813

10,666

10,535

Corporate and correspondent investment sales

7,984

6,259

7,619

5,388

7,972

Mortgage banking income

12,556

8,159

5,627

8,498

6,150

Bank owned life insurance

4,394

4,788

5,809

4,603

4,237

Investment securities gains, net

27,399

32,832

5,434

9,710

21,464

Gain (loss) on prepayment of FHLB and other borrowings

(3,569)

(2,549)

143

Other

55,797

56,738

68,033

54,809

50,532

Total noninterest income

258,569

249,270

236,218

226,431

235,445

Noninterest expense:

Salaries, benefits and commissions

268,709

259,262

281,065

265,334

263,301

FDIC indemnification expense

12,419

28,789

34,313

18,748

30,370

Professional services

51,119

46,559

59,027

52,463

49,790

Equipment

57,175

58,141

58,401

56,355

55,469

Net occupancy

40,382

39,280

39,865

39,357

40,200

Marketing

11,618

10,088

5,894

11,587

9,986

Communications

5,245

5,767

6,003

5,964

6,294

Amortization of intangibles

9,889

10,687

24,556

12,635

13,631

Other

63,080

64,146

74,357

70,699

76,221

Total noninterest expense

519,636

522,719

583,481

533,142

545,262

Net income before income tax expense

184,766

193,549

142,276

171,388

143,705

Income tax expense

48,116

51,782

39,864

27,770

36,130

Net income

136,650

141,767

102,412

143,618

107,575

Less: net income attributable to noncontrolling interests

590

657

204

815

504

Net income attributable to shareholder

$ 136,060

$ 141,110

$       102,208

$        142,803

$ 107,071

 

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

 

SOURCE BBVA Compass Bancshares, Inc.



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