BBVA Compass Donates Historic Buildings and Land to City of Hidalgo

Donation includes historic courthouse, jail and post office built in the late 1800's

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Jan 31, 2011, 04:31 ET

HIDALGO, Texas, Jan. 31, 2011 /PRNewswire/ -- BBVA Compass announced the donation of multiple historic properties and the corresponding land to the City of Hidalgo during a ceremony on Friday. The donation from the bank includes the city's historic courthouse, jail and post office, each of which is included on the National Register of Historic Places and recorded as a Texas Historic Landmark. BBVA Compass President and CEO, Manolo Sanchez, presented keys to the historic buildings to Hidalgo Mayor John David Franz in a ceremony which included State Representative Sergio Munoz, Jr. and Hidalgo County Commissioner Hector Palacios.

(Photo: http://photos.prnewswire.com/prnh/20110131/DA39519)

Each of the historic buildings were constructed in the late 1800's. The buildings and the parcel of land on which they sit are often referred to as the "Birthplace of Hidalgo County" as their location comprised the county seat. When other townships began to develop as a result of the railroad in the early 1900's, support was generated for a more central location for the courthouse. In 1908, the courthouse records were moved, leaving the courthouse and jail unoccupied.

"Our donation today ensures that the Hidalgo community and future generations will be able to enjoy these valuable treasures that have played a significant role in their history," said Manolo Sanchez, president and CEO of BBVA Compass. "The three historic buildings are clearly a public treasure and an asset not only to Hidalgo residents but also the surrounding Rio Grande Valley community; their inclusion on the National Register of Historic Places and recording as Texas Historic Landmarks signifies this fact. With this donation, BBVA Compass stands firm in its commitment to be a valuable member of the business community and to serve the Rio Grande Valley community in meaningful ways."

Hidalgo Mayor John David Franz said, "For more than 25 years it has been a dream of the City of Hidalgo and the Hidalgo Chamber of Commerce to be able to acquire the Old Hidalgo County Courthouse and restore it to its original state in order to preserve the history of the City and County. This generous donation is the first step in achieving this dream. The Birthplace of Hidalgo County will soon be one of the major destinations in the Rio Grande valley for all residents and tourists to enjoy and learn about its important history."

With the donation of the historic buildings and the land on which they reside, Hidalgo, along with area partners, will invest nearly $3 million dollars to preserve, restore and establish Hidalgo Viejo and the old river channel as a central entertainment tourist destination. The Courthouse when restored to its original state will be open year round as a museum showcasing the history of Hidalgo and Hidalgo County, an area which was once the center of commerce and trade in the Rio Grande Valley.

ABOUT BBVA COMPASS

BBVA Compass is a Sunbelt-based financial institution that operates more than 715 branches including 380 in Texas, 92 in Alabama, 65 in California, 77 in Arizona, 45 in Florida, 36 in Colorado and 20 in New Mexico. BBVA Compass is the 15th largest U.S. commercial bank based on deposit market share and ranks among the largest banks in Texas (4th), Alabama (3rd) and Arizona (5th). For the second consecutive year, BBVA Compass was named as a "Lender of the Year" by the Small Business Administration (SBA). Additional information concerning BBVA Compass can be found on our website www.bbvacompass.com.

BBVA Compass is a subsidiary of Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a financial services group with approximately $760 billion in total assets, 48 million clients, 7,400 branches and approximately 105,000 employees in more than 30 countries. BBVA ranks among the top 20 largest financial institutions in the world based on market capitalization and 21st in Global Finance magazine's list of the "World's 50 Safest Banks" for 2010. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, and the United Kingdom. More information about the BBVA Group can be found at www.bbva.com.