|
BBVA Compass reports net income of $162 million for the first half of 2016
HOUSTON, July 29, 2016 /PRNewswire/ --
Second quarter net income of $123 million
- Loan growth solid while deposit generation remains robust
- Average total loans of $62.3 billion up $3.0 billion, or 5 percent, from year ago levels
- Newly funded customer loans of $7.6 billion in the first half of 2016
- Average total deposits of $68.0 billion up $5.6 billion, or 9 percent, from prior year
- Deposit growth fueled by 10 percent increase in noninterest bearing deposits
- Noninterest bearing deposits represent 30 percent of total deposits
- Total revenue up 1 percent, led by 2 percent increase in net interest income
- Noninterest income totals $257 million, up $12 million from 1Q16 levels
- Expenses well contained in the quarter, drop $51 million from 1Q16
- Credit quality metrics remain sound; allowance to loan ratio at 1.37 percent
- Net charge-off ratio at 39 basis points for the first half of 2016
- Provision expense for the quarter exceeded net charge-offs by $21 million
- Nonperforming loan ratio at 1.76 percent; 0.77 percent excluding energy portfolio
- Stress tests results provide further evidence of strong capital position
- Capital plan and capital actions submitted as part of the Comprehensive Capital Analysis and Review (CCAR) received no-objection from Federal Reserve
- Projected regulatory capital ratios exceeded the applicable regulatory minimums under the Dodd-Frank Act Stress Test (DFAST) hypothetical supervisory severely adverse scenario
- Regulatory capital ratios1 significantly exceed "well-capitalized" guidelines
- Common Equity Tier 1 capital ratio (phased-in)1 at 10.79 percent
 BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $162 million for the first six months of 2016 compared to $286 million earned during the first six months of 2015. Return on average assets and return on average tangible equity2 for the first six months of 2016 were 0.35 percent and 4.27 percent, respectively.
Net income for the second quarter of 2016 was $123 million compared to $39 million earned during the first quarter of 2016 and $140 million for the second quarter of 2015. Return on average assets and return on average tangible equity2 for the second quarter of 2016 were 0.53 percent and 6.45 percent, respectively.
"Our results for the second quarter reflect solid loan growth, robust deposit generation, improved growth from our fee-based businesses and strong expense management discipline," said Manolo Sánchez, chairman and CEO of BBVA Compass. "At the same time, we are focused on being at the forefront of the digital change sweeping our industry so we can better serve our clients. Euromoney recently recognized us as the Best Digital Bank in North America, in fact, a testament to our vision and the culture we've instilled in which everyone on the team has the power to move our transformation forward."
"While the low interest rate environment continues to hamper revenue growth in our industry, our focus is on delivering targeted balance sheet growth," Sánchez noted. "Average total loans for the first half of the year reached $62.3 billion, an increase of $3.0 billion or 5 percent, and we funded more than $7.6 billion in customer loans. Loan growth was fully funded by deposit generation as average deposits totaled $68.0 billion, an increase of $5.6 billion or 9 percent, led by a 10 percent increase in average noninterest bearing deposits."
Total revenue increased 1 percent from prior year levels for both the three and six month periods. Targeted loan growth coupled with strong deposit growth resulted in a 2 percent increase in net interest income during both periods. The percent net interest margin ended the quarter at 2.66 percent, down 3 basis points from second quarter 2015 levels and 7 basis points from first quarter 2016 levels.
Noninterest income for the quarter totaled $257 million, a decrease of 2 percent compared to $261 million recorded in the second quarter of 2015. In comparison to first quarter 2016 levels, noninterest income increased $12 million as the growth was widespread between most major fee-based businesses. Improved activity levels and market conditions during the quarter were a primary driver of the rebound in investment banking and advisory fees, and corporate and correspondent investment sales. Disciplined expense management helped contain expenses as total noninterest expenses declined $51 million compared to first quarter 2016 levels and were flat compared to second quarter 2015 levels.
Credit quality metrics remained sound despite continued pressure on the energy portfolio. Provision expense for the quarter totaled $87 million compared to $113 million in the first quarter of 2016 and exceeded net charge-offs by $21 million. The allowance for loan losses as a percentage of total loans ended the quarter at 1.37 percent, up from 1.32 percent at the end of the first quarter this year and 1.20 percent in the second quarter a year ago. Nonperforming loans as a percentage of total loans were 1.76 percent compared to 1.41 percent at the end of the first quarter, primarily reflecting the additional reclassification of certain energy credits.
"BBVA Compass is steadfast in its commitment to maintaining sound underwriting standards and a strong risk profile, and the proactive actions we have taken thus far to address our energy portfolio reflect this commitment," Sánchez said. "Total energy loans declined $419 million from first quarter levels and now represent 6 percent of our total loan portfolio, down from 6.7 percent at the end of the first quarter. At the same time, all of our other loan portfolios continue to perform within our expectations. Excluding energy loans, our nonperforming loan ratio was 0.77 percent and net charge-offs were 27 basis points."
"The recently completed stress tests are also further confirmation of our strong capital position, our ability to generate retained earnings and our capacity to absorb significant stress," Sánchez noted. Total shareholder's equity ended the second quarter of 2016 at $12.7 billion, a 4 percent increase from $12.3 billion at the end of the second quarter of 2015. Each of the company's regulatory capital ratios remain significantly above "well-capitalized" guidelines. The total capital ratio ended the quarter at 13.66 percent1 compared to 13.29 percent a year ago and the CET1 ratio rose to 10.79 percent1.
During the second quarter, BBVA Compass completed the purchase of four subsidiaries — Bancomer Transfer Services, Bancomer Payment Services, Bancomer Foreign Exchange and Bancomer Financial Services — from BBVA Bancomer USA, Inc. that engage in money transfer services. BBVA Bancomer USA, Inc. is a wholly owned subsidiary of BBVA Bancomer, S.A. (Mexico) and ultimately a wholly-owned subsidiary of BBVA. This transaction was accounted for as a merger of entities under common control and, accordingly, prior period financial information has been retrospectively adjusted to include their historical activity.
In recognizing BBVA Compass as the Best Digital Bank in North America, global finance magazine Euromoney recognized the strides the bank has made in mobile and lauded its efforts to transform its technology and culture in pursuit of exceptional client experiences. The publication also noted the bank's embrace of disrupters and cited its collaborations with Dwolla, FutureAdvisor and eCredable.
________________________________
1 Regulatory capital ratios at June 30, 2016, are estimated
2 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 674 branches, including 345 in Texas, 89 in Alabama, 75 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 Best Digital Bank in North America by global finance magazine Euromoney and 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 is the largest financial institution in Spain and Mexico, and has leading franchises in South America and the Sunbelt region of the United States. It also is the leading shareholder in Garanti, Turkey's largest bank based on market capitalization. Its diversified business is focused on 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 6, 2016, BBVA filed its annual report on Form 20-F for the year ended December 31, 2015, 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, 2015, 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 2, 2016, 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,
|
|
%
|
|
|
|
|
|
|
|
|
2016
|
|
2015 [d]
|
|
Change
|
|
2016
|
|
2015 [d]
|
|
Change
|
|
|
|
|
|
|
|
EARNINGS SUMMARY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
$ 504,238
|
|
$ 491,983
|
|
2
|
|
$ 1,021,120
|
|
$ 1,001,014
|
|
2
|
|
|
|
|
|
|
|
Noninterest income [a]
|
|
256,562
|
|
260,552
|
|
(2)
|
|
501,414
|
|
502,343
|
|
—
|
|
|
|
|
|
|
|
Total revenue [a]
|
|
760,800
|
|
752,535
|
|
1
|
|
1,522,534
|
|
1,503,357
|
|
1
|
|
|
|
|
|
|
|
Investment securities gain, net
|
|
21,684
|
|
27,399
|
|
(21)
|
|
30,037
|
|
60,231
|
|
(50)
|
|
|
|
|
|
|
|
Loss on prepayment of FHLB advances
|
|
—
|
|
(3,569)
|
|
NM
|
|
—
|
|
(6,118)
|
|
NM
|
|
|
|
|
|
|
|
Provision for loan losses
|
|
86,673
|
|
46,149
|
|
88
|
|
199,918
|
|
88,180
|
|
127
|
|
|
|
|
|
|
|
Noninterest expense
|
|
541,037
|
|
539,487
|
|
—
|
|
1,133,181
|
|
1,078,783
|
|
5
|
|
|
|
|
|
|
|
Pretax income
|
|
154,774
|
|
190,729
|
|
(19)
|
|
219,472
|
|
390,507
|
|
(44)
|
|
|
|
|
|
|
|
Income tax expense
|
|
32,272
|
|
50,335
|
|
(36)
|
|
57,703
|
|
104,437
|
|
(45)
|
|
|
|
|
|
|
|
Net income
|
|
122,502
|
|
140,394
|
|
(13)
|
|
161,769
|
|
286,070
|
|
(43)
|
|
|
|
|
|
|
|
Net income attributable to noncontrolling interests
|
|
518
|
|
590
|
|
(12)
|
|
1,046
|
|
1,247
|
|
(16)
|
|
|
|
|
|
|
|
Net income attributable to BBVA Compass Bancshares, Inc.
|
|
$ 121,984
|
|
$ 139,804
|
|
(13)
|
|
$ 160,723
|
|
$ 284,823
|
|
(44)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets
|
|
0.53 %
|
|
0.64 %
|
|
|
|
0.35 %
|
|
0.67 %
|
|
|
|
|
|
|
|
|
|
Return on average tangible equity [b]
|
|
6.45
|
|
7.89
|
|
|
|
4.27
|
|
8.15
|
|
|
|
|
|
|
|
|
|
Average common equity to average assets
|
|
13.79
|
|
13.97
|
|
|
|
13.79
|
|
14.13
|
|
|
|
|
|
|
|
|
|
Average loans to average total deposits
|
|
91.11
|
|
95.41
|
|
|
|
91.63
|
|
95.04
|
|
|
|
|
|
|
|
|
|
Common equity tier I capital (CET1) [c]
|
|
10.79
|
|
10.57
|
|
|
|
10.79
|
|
10.57
|
|
|
|
|
|
|
|
|
|
Tier I capital ratio [c]
|
|
11.14
|
|
10.63
|
|
|
|
11.14
|
|
10.63
|
|
|
|
|
|
|
|
|
|
Total capital ratio [c]
|
|
13.66
|
|
13.29
|
|
|
|
13.66
|
|
13.29
|
|
|
|
|
|
|
|
|
|
Leverage ratio [c]
|
|
8.78
|
|
8.74
|
|
|
|
8.78
|
|
8.74
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average for Three Months
|
|
|
|
Average for Six Months
|
|
|
|
Ending Balance
|
|
|
|
|
Ended June 30,
|
|
%
|
|
Ended June 30,
|
|
%
|
|
June 30,
|
|
%
|
|
|
2016
|
|
2015 [d]
|
|
Change
|
|
2016
|
|
2015 [d]
|
|
Change
|
|
2016
|
|
2015 [d]
|
|
Change
|
|
BALANCE SHEET HIGHLIGHTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans
|
|
$ 62,355,245
|
|
$ 59,746,217
|
|
4
|
|
$ 62,275,604
|
|
$ 59,282,211
|
|
5
|
|
$ 61,788,375
|
|
$ 60,202,842
|
|
3
|
|
Total investment securities
|
|
12,493,595
|
|
11,536,999
|
|
8
|
|
12,488,652
|
|
11,461,944
|
|
9
|
|
12,617,412
|
|
11,767,559
|
|
7
|
|
Earning assets
|
|
79,171,032
|
|
76,075,375
|
|
4
|
|
79,117,352
|
|
74,889,097
|
|
6
|
|
78,813,552
|
|
77,173,568
|
|
2
|
|
Total assets
|
|
92,440,585
|
|
87,978,092
|
|
5
|
|
92,372,846
|
|
86,585,096
|
|
7
|
|
91,753,156
|
|
88,582,887
|
|
4
|
|
Noninterest bearing demand deposits
|
|
20,521,323
|
|
18,988,347
|
|
8
|
|
20,289,233
|
|
18,463,906
|
|
10
|
|
20,132,164
|
|
19,048,379
|
|
6
|
|
Interest bearing transaction accounts
|
|
32,975,782
|
|
30,727,865
|
|
7
|
|
32,918,640
|
|
31,074,124
|
|
6
|
|
32,625,540
|
|
30,448,569
|
|
7
|
|
Total transaction accounts
|
|
53,497,105
|
|
49,716,212
|
|
8
|
|
53,207,873
|
|
49,538,030
|
|
7
|
|
52,757,704
|
|
49,496,948
|
|
7
|
|
Total deposits
|
|
68,441,915
|
|
62,622,304
|
|
9
|
|
67,960,764
|
|
62,373,191
|
|
9
|
|
67,750,318
|
|
62,499,444
|
|
8
|
|
Shareholder's equity
|
|
12,751,155
|
|
12,291,532
|
|
4
|
|
12,739,562
|
|
12,231,403
|
|
4
|
|
12,726,996
|
|
12,286,343
|
|
4
|
|
|
[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.
|
|
[d] Prior period financial information has been retrospectively adjusted to include the historical activity of the money business service subsidiaries purchased from BBVA Bancomer USA, Inc in June 2016.
|
|
NM = Not meaningful
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
2016
|
|
2015
|
|
|
June 30
|
|
March 31
|
|
December 31
|
|
September 30
|
|
June 30
|
|
NONPERFORMING ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans [a]
|
|
$ 1,026,592
|
|
$ 819,034
|
|
$ 407,045
|
|
$ 380,930
|
|
$ 395,350
|
|
Loans 90 days or more past due [b]
|
|
60,320
|
|
60,490
|
|
68,629
|
|
73,588
|
|
69,710
|
|
TDRs 90 days or more past due
|
|
998
|
|
491
|
|
874
|
|
678
|
|
1,224
|
|
Total nonperforming loans [a]
|
|
1,087,910
|
|
880,015
|
|
476,548
|
|
455,196
|
|
466,284
|
|
Other real estate owned, net (OREO)
|
|
18,225
|
|
17,877
|
|
20,862
|
|
23,762
|
|
20,188
|
|
Other repossessed assets
|
|
9,380
|
|
8,601
|
|
8,774
|
|
3,331
|
|
4,255
|
|
Total nonperforming assets
|
|
$ 1,115,515
|
|
$ 906,493
|
|
$ 506,184
|
|
$ 482,289
|
|
$ 490,727
|
|
|
|
|
|
|
|
|
|
|
|
|
TDRs accruing and past due less than 90 days
|
|
$ 118,222
|
|
$ 120,316
|
|
$ 150,038
|
|
$ 154,397
|
|
$ 155,592
|
|
|
|
|
|
|
|
|
|
|
|
|
Covered loans [c]
|
|
398,654
|
|
423,819
|
|
440,961
|
|
458,066
|
|
473,842
|
|
Covered nonperforming loans [c]
|
|
33,088
|
|
37,476
|
|
38,106
|
|
43,192
|
|
44,664
|
|
Covered nonperforming assets [c]
|
|
36,321
|
|
40,157
|
|
40,216
|
|
45,569
|
|
47,085
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nonperforming loans as a % of loans
|
|
1.76 %
|
|
1.41 %
|
|
0.78 %
|
|
0.75 %
|
|
0.77 %
|
|
Total nonperforming loans as a % of loans, excluding covered loans
|
|
1.72
|
|
1.36
|
|
0.72
|
|
0.68
|
|
0.71
|
|
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets
|
|
1.80
|
|
1.46
|
|
0.82
|
|
0.79
|
|
0.81
|
|
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets, excluding covered assets
|
|
1.76
|
|
1.40
|
|
0.76
|
|
0.72
|
|
0.74
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
2016
|
|
2015
|
|
|
June 30
|
|
March 31
|
|
December 31
|
|
September 30
|
|
June 30
|
|
ALLOWANCE FOR LOAN LOSSES
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$ 822,440
|
|
$ 762,673
|
|
$ 722,122
|
|
$ 721,471
|
|
$ 701,864
|
|
Net charge-offs (NCO)
|
|
66,062
|
|
53,478
|
|
35,756
|
|
28,500
|
|
26,542
|
|
Provision for loan losses
|
|
86,673
|
|
113,245
|
|
76,307
|
|
29,151
|
|
46,149
|
|
Balance at end of period
|
|
$ 843,051
|
|
$ 822,440
|
|
$ 762,673
|
|
$ 722,122
|
|
$ 721,471
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses as a % of total loans
|
|
1.37 %
|
|
1.32 %
|
|
1.24 %
|
|
1.20 %
|
|
1.20 %
|
|
Allowance for loan losses as a % of nonperforming loans [d]
|
|
77.49
|
|
93.46
|
|
160.04
|
|
158.64
|
|
154.73
|
|
Allowance for loan losses as a % of nonperforming assets [d]
|
|
75.58
|
|
90.73
|
|
150.67
|
|
149.73
|
|
147.02
|
|
|
|
|
|
|
|
|
|
|
|
|
Annualized as a % of average loans:
|
|
|
|
|
|
|
|
|
|
|
|
NCO - QTD
|
|
0.43
|
|
0.35
|
|
0.23
|
|
0.19
|
|
0.18
|
|
NCO - YTD
|
|
0.39
|
|
0.35
|
|
0.19
|
|
0.18
|
|
0.18
|
|
|
[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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2016
|
|
March 31, 2016
|
|
December 31, 2015
|
|
|
Recorded
Investment
|
|
Total
Commitment
|
|
Nonaccrual
|
|
Recorded
Investment
|
|
Total
Commitment
|
|
Nonaccrual
|
|
Recorded
Investment
|
|
Total
Commitment
|
|
Nonaccrual
|
|
ENERGY PORTFOLIO
|
|
|
Exploration and production
|
|
$ 1,935,062
|
|
$ 4,456,062
|
|
$ 620,612
|
|
$ 2,140,376
|
|
$ 5,034,557
|
|
$ 469,882
|
|
$ 2,040,748
|
|
$ 5,186,887
|
|
$ 91,947
|
|
Midstream
|
|
1,395,584
|
|
3,315,382
|
|
21,268
|
|
1,541,465
|
|
3,426,768
|
|
—
|
|
1,355,503
|
|
3,293,216
|
|
—
|
|
Drilling oil and support services
|
|
270,420
|
|
495,563
|
|
—
|
|
292,769
|
|
504,455
|
|
—
|
|
266,871
|
|
554,782
|
|
—
|
|
Refineries and terminals
|
|
131,626
|
|
201,399
|
|
430
|
|
134,211
|
|
202,659
|
|
475
|
|
137,904
|
|
211,258
|
|
520
|
|
Other
|
|
—
|
|
—
|
|
—
|
|
42,578
|
|
109,413
|
|
—
|
|
39,200
|
|
109,782
|
|
—
|
|
Total energy portfolio
|
|
$ 3,732,692
|
|
$ 8,468,406
|
|
$ 642,310
|
|
$ 4,151,399
|
|
$ 9,277,852
|
|
$ 470,357
|
|
$ 3,840,226
|
|
$ 9,355,925
|
|
$ 92,467
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2016
|
|
|
|
March 31, 2016
|
|
|
|
December 31, 2015
|
|
|
|
|
As a % of
Energy Loans
|
|
As a % of Total
Loans
|
|
|
|
As a % of
Energy Loans
|
|
As a % of Total
Loans
|
|
|
|
As a % of
Energy Loans
|
|
As a % of Total
Loans
|
|
|
|
ENERGY PORTFOLIO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration and production
|
|
51.8 %
|
|
3.1 %
|
|
|
|
51.6 %
|
|
3.4 %
|
|
|
|
53.2 %
|
|
3.4 %
|
|
|
|
Midstream
|
|
37.4
|
|
2.3
|
|
|
|
37.1
|
|
2.5
|
|
|
|
35.3
|
|
2.2
|
|
|
|
Drilling oil and support services
|
|
7.3
|
|
0.4
|
|
|
|
7.1
|
|
0.5
|
|
|
|
6.9
|
|
0.4
|
|
|
|
Refineries and terminals
|
|
3.5
|
|
0.2
|
|
|
|
3.2
|
|
0.2
|
|
|
|
3.6
|
|
0.2
|
|
|
|
Other
|
|
—
|
|
—
|
|
|
|
1.0
|
|
0.1
|
|
|
|
1.0
|
|
0.1
|
|
|
|
Total energy portfolio
|
|
100.0 %
|
|
6.0 %
|
|
|
|
100.0 %
|
|
6.7 %
|
|
|
|
100.0 %
|
|
6.3 %
|
|
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
2016
|
|
2015 [b]
|
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
YIELD/RATE ANALYSIS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Taxable Equivalent Basis)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
|
$ 62,355,245
|
|
$ 575,852
|
|
3.71 %
|
|
$ 59,746,217
|
|
$ 545,701
|
|
3.66 %
|
|
Investment securities available for sale [a]
|
|
11,208,678
|
|
36,519
|
|
1.31
|
|
10,108,556
|
|
49,493
|
|
1.96
|
|
Investment securities held to maturity
|
|
1,265,643
|
|
9,754
|
|
3.10
|
|
1,371,906
|
|
10,000
|
|
2.92
|
|
Other earning assets
|
|
4,322,192
|
|
17,758
|
|
1.65
|
|
4,792,159
|
|
15,196
|
|
1.27
|
|
Total earning assets [a]
|
|
79,151,758
|
|
639,883
|
|
3.25
|
|
76,018,838
|
|
620,390
|
|
3.27
|
|
Allowance for loan losses
|
|
(837,147)
|
|
|
|
|
|
(704,594)
|
|
|
|
|
|
Unrealized gain (loss) on securities available for sale
|
|
19,274
|
|
|
|
|
|
56,537
|
|
|
|
|
|
Other assets
|
|
14,106,700
|
|
|
|
|
|
12,607,311
|
|
|
|
|
|
Total assets
|
|
$ 92,440,585
|
|
|
|
|
|
$ 87,978,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholder's Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing demand deposits
|
|
$ 6,826,950
|
|
$ 3,848
|
|
0.23
|
|
$ 7,268,321
|
|
$ 2,888
|
|
0.16
|
|
Savings and money market accounts
|
|
26,148,832
|
|
24,758
|
|
0.38
|
|
23,459,544
|
|
21,307
|
|
0.36
|
|
Certificates and other time deposits
|
|
14,852,744
|
|
48,280
|
|
1.31
|
|
12,719,306
|
|
40,911
|
|
1.29
|
|
Foreign office deposits
|
|
92,066
|
|
47
|
|
0.21
|
|
186,786
|
|
95
|
|
0.20
|
|
Total interest bearing deposits
|
|
47,920,592
|
|
76,933
|
|
0.65
|
|
43,633,957
|
|
65,201
|
|
0.60
|
|
FHLB and other borrowings
|
|
4,448,139
|
|
19,592
|
|
1.77
|
|
6,000,934
|
|
27,540
|
|
1.84
|
|
Federal funds purchased and securities sold under agreement to repurchase
|
|
680,325
|
|
5,434
|
|
3.21
|
|
884,282
|
|
1,702
|
|
0.77
|
|
Other short-term borrowings
|
|
3,975,490
|
|
13,932
|
|
1.41
|
|
4,387,467
|
|
15,291
|
|
1.40
|
|
Total interest bearing liabilities
|
|
57,024,546
|
|
115,891
|
|
0.82
|
|
54,906,640
|
|
109,734
|
|
0.80
|
|
Noninterest bearing deposits
|
|
20,521,323
|
|
|
|
|
|
18,988,347
|
|
|
|
|
|
Other noninterest bearing liabilities
|
|
2,143,561
|
|
|
|
|
|
1,791,573
|
|
|
|
|
|
Total liabilities
|
|
79,689,430
|
|
|
|
|
|
75,686,560
|
|
|
|
|
|
Shareholder's equity
|
|
12,751,155
|
|
|
|
|
|
12,291,532
|
|
|
|
|
|
Total liabilities and shareholder's equity
|
|
$ 92,440,585
|
|
|
|
|
|
$ 87,978,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income/ net interest spread
|
|
|
|
523,992
|
|
2.43 %
|
|
|
|
510,656
|
|
2.47 %
|
|
Net yield on earning assets
|
|
|
|
|
|
2.66 %
|
|
|
|
|
|
2.69 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total taxable equivalent adjustment
|
|
|
|
19,754
|
|
|
|
|
|
18,673
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
|
|
$ 504,238
|
|
|
|
|
|
$ 491,983
|
|
|
|
|
[a] Excludes adjustment for market valuation.
|
|
[b] Prior period financial information has been retrospectively adjusted to include the historical activity of the money business service subsidiaries purchased from BBVA Bancomer USA, Inc. in June 2016.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
2016
|
|
2015 [b]
|
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
YIELD/RATE ANALYSIS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Taxable Equivalent Basis)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
|
$ 62,275,604
|
|
$ 1,153,074
|
|
3.72 %
|
|
$ 59,282,211
|
|
$ 1,103,590
|
|
3.75 %
|
|
Investment securities available for sale [a]
|
|
11,199,707
|
|
82,803
|
|
1.49
|
|
10,033,989
|
|
99,223
|
|
1.99
|
|
Investment securities held to maturity
|
|
1,279,209
|
|
19,592
|
|
3.08
|
|
1,366,182
|
|
19,663
|
|
2.90
|
|
Other earning assets
|
|
4,353,096
|
|
36,446
|
|
1.68
|
|
4,144,942
|
|
25,808
|
|
1.26
|
|
Total earning assets [a]
|
|
79,107,616
|
|
1,291,915
|
|
3.28
|
|
74,827,324
|
|
1,248,284
|
|
3.36
|
|
Allowance for loan losses
|
|
(810,889)
|
|
|
|
|
|
(698,100)
|
|
|
|
|
|
Unrealized gain (loss) on securities available for sale
|
|
9,736
|
|
|
|
|
|
61,773
|
|
|
|
|
|
Other assets
|
|
14,066,383
|
|
|
|
|
|
12,394,099
|
|
|
|
|
|
Total assets
|
|
$ 92,372,846
|
|
|
|
|
|
$ 86,585,096
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholder's Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing demand deposits
|
|
$ 6,956,442
|
|
7,790
|
|
0.23
|
|
$ 7,450,170
|
|
5,925
|
|
0.16
|
|
Savings and money market accounts
|
|
25,962,198
|
|
51,501
|
|
0.40
|
|
23,623,954
|
|
48,205
|
|
0.41
|
|
Certificates and other time deposits
|
|
14,643,322
|
|
95,349
|
|
1.31
|
|
12,667,191
|
|
80,556
|
|
1.28
|
|
Foreign office deposits
|
|
109,569
|
|
108
|
|
0.20
|
|
167,970
|
|
168
|
|
0.20
|
|
Total interest bearing deposits
|
|
47,671,531
|
|
154,748
|
|
0.65
|
|
43,909,285
|
|
134,854
|
|
0.62
|
|
FHLB and other borrowings
|
|
4,756,471
|
|
37,604
|
|
1.59
|
|
5,443,890
|
|
46,646
|
|
1.74
|
|
Federal funds purchased and securities sold under agreement to repurchase
|
|
740,284
|
|
11,591
|
|
3.15
|
|
911,894
|
|
3,028
|
|
0.67
|
|
Other short-term borrowings
|
|
4,000,459
|
|
27,828
|
|
1.40
|
|
3,772,277
|
|
25,539
|
|
1.37
|
|
Total interest bearing liabilities
|
|
57,168,745
|
|
231,771
|
|
0.82
|
|
54,037,346
|
|
210,067
|
|
0.79
|
|
Noninterest bearing deposits
|
|
20,289,233
|
|
|
|
|
|
18,463,906
|
|
|
|
|
|
Other noninterest bearing liabilities
|
|
2,175,306
|
|
|
|
|
|
1,852,441
|
|
|
|
|
|
Total liabilities
|
|
79,633,284
|
|
|
|
|
|
74,353,693
|
|
|
|
|
|
Shareholder's equity
|
|
12,739,562
|
|
|
|
|
|
12,231,403
|
|
|
|
|
|
Total liabilities and shareholder's equity
|
|
$ 92,372,846
|
|
|
|
|
|
$ 86,585,096
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income/ net interest spread
|
|
|
|
1,060,144
|
|
2.46 %
|
|
|
|
1,038,217
|
|
2.57 %
|
|
Net yield on earning assets
|
|
|
|
|
|
2.69 %
|
|
|
|
|
|
2.80 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total taxable equivalent adjustment
|
|
|
|
39,024
|
|
|
|
|
|
37,203
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
|
|
$ 1,021,120
|
|
|
|
|
|
$ 1,001,014
|
|
|
|
|
[a] Excludes adjustment for market valuation.
|
|
[b] Prior period financial information has been retrospectively adjusted to include the historical activity of the money business service subsidiaries purchased from BBVA Bancomer USA, Inc. in June 2016.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months
|
|
|
|
Three Months Ended
|
|
|
Ended June 30,
|
|
%
|
|
2016
|
|
2015 [a]
|
|
|
2016
|
|
2015
|
|
Change
|
|
June 30
|
|
March 31 [a]
|
|
December 31
|
|
September 30
|
|
June 30
|
|
NONINTEREST INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges on deposit accounts
|
|
$ 103,346
|
|
$ 106,974
|
|
(3)
|
|
$ 51,921
|
|
$ 51,425
|
|
$ 54,357
|
|
$ 54,917
|
|
$ 53,690
|
|
Card and merchant processing fees
|
|
61,251
|
|
54,894
|
|
12
|
|
31,509
|
|
29,742
|
|
28,900
|
|
29,024
|
|
28,711
|
|
Retail investment sales
|
|
49,552
|
|
51,519
|
|
(4)
|
|
26,985
|
|
22,567
|
|
24,040
|
|
26,055
|
|
26,373
|
|
Investment banking and advisory fees
|
|
51,939
|
|
67,133
|
|
(23)
|
|
28,335
|
|
23,604
|
|
20,260
|
|
17,842
|
|
36,799
|
|
Money transfer income
|
|
50,902
|
|
43,834
|
|
16
|
|
26,477
|
|
24,425
|
|
24,735
|
|
24,868
|
|
23,375
|
|
Asset management fees
|
|
17,191
|
|
16,531
|
|
4
|
|
8,386
|
|
8,805
|
|
8,745
|
|
7,918
|
|
8,435
|
|
Corporate and correspondent investment sales
|
|
14,516
|
|
14,243
|
|
2
|
|
10,103
|
|
4,413
|
|
9,710
|
|
6,047
|
|
7,984
|
|
Mortgage banking
|
|
(2,832)
|
|
20,715
|
|
NM
|
|
602
|
|
(3,434)
|
|
5,989
|
|
554
|
|
12,556
|
|
Bank owned life insurance
|
|
8,871
|
|
9,182
|
|
(3)
|
|
4,455
|
|
4,416
|
|
5,135
|
|
4,345
|
|
4,394
|
|
Other
|
|
146,678
|
|
117,318
|
|
25
|
|
67,789
|
|
78,889
|
|
67,536
|
|
82,414
|
|
58,235
|
|
|
501,414
|
|
502,343
|
|
—
|
|
256,562
|
|
244,852
|
|
249,407
|
|
253,984
|
|
260,552
|
|
Investment securities gains, net
|
|
30,037
|
|
60,231
|
|
(50)
|
|
21,684
|
|
8,353
|
|
14,689
|
|
6,736
|
|
27,399
|
|
Loss on prepayment of FHLB and other borrowings, net
|
|
—
|
|
(6,118)
|
|
NM
|
|
—
|
|
—
|
|
(1,898)
|
|
—
|
|
(3,569)
|
|
Total noninterest income
|
|
$ 531,451
|
|
$ 556,456
|
|
(4)
|
|
$ 278,246
|
|
$ 253,205
|
|
$ 262,198
|
|
$ 260,720
|
|
$ 284,382
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries, benefits and commissions
|
|
$ 556,935
|
|
$ 533,685
|
|
4
|
|
$ 277,166
|
|
$ 279,769
|
|
$ 276,647
|
|
$ 271,143
|
|
$ 272,071
|
|
Professional services
|
|
114,768
|
|
98,658
|
|
16
|
|
58,401
|
|
56,367
|
|
64,450
|
|
55,476
|
|
51,758
|
|
Equipment
|
|
119,949
|
|
115,897
|
|
3
|
|
59,508
|
|
60,441
|
|
57,739
|
|
58,414
|
|
57,458
|
|
Net occupancy
|
|
79,271
|
|
80,025
|
|
(1)
|
|
39,999
|
|
39,272
|
|
41,304
|
|
39,706
|
|
40,549
|
|
Money transfer expense
|
|
33,368
|
|
27,502
|
|
21
|
|
17,768
|
|
15,600
|
|
16,334
|
|
16,514
|
|
14,755
|
|
Marketing
|
|
24,215
|
|
21,707
|
|
12
|
|
11,506
|
|
12,709
|
|
9,447
|
|
10,624
|
|
11,619
|
|
Communications
|
|
10,638
|
|
11,248
|
|
(5)
|
|
5,463
|
|
5,175
|
|
5,423
|
|
5,856
|
|
5,360
|
|
Amortization of intangibles
|
|
8,187
|
|
20,576
|
|
(60)
|
|
4,094
|
|
4,093
|
|
9,125
|
|
9,507
|
|
9,889
|
|
Other
|
|
185,850
|
|
169,485
|
|
10
|
|
67,132
|
|
118,718
|
|
98,226
|
|
90,135
|
|
76,028
|
|
Total noninterest expense
|
|
$ 1,133,181
|
|
$ 1,078,783
|
|
5
|
|
$ 541,037
|
|
$ 592,144
|
|
$ 578,695
|
|
$ 557,375
|
|
$ 539,487
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NM = Not meaningful
|
|
[a] Prior period financial information has been retrospectively adjusted to include the historical activity of the money business service subsidiaries purchased from BBVA Bancomer USA, Inc. in June 2016.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
|
|
2016
|
|
2015 [a]
|
|
2016
|
|
2015 [a]
|
|
NON-GAAP RECONCILIATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Computation of Average Tangible Equity:
|
|
|
|
|
|
|
|
|
|
Total stockholder's equity (average)
|
|
$ 12,751,155
|
|
$ 12,291,532
|
|
$ 12,739,562
|
|
$ 12,231,403
|
|
Less: Goodwill and other intangibles (average)
|
|
5,109,772
|
|
5,150,763
|
|
5,112,406
|
|
5,149,182
|
|
Average tangible equity [B]
|
|
$ 7,641,383
|
|
$ 7,140,769
|
|
$ 7,627,156
|
|
$ 7,082,221
|
|
Net income [A]
|
|
$ 122,502
|
|
$ 140,394
|
|
$ 161,769
|
|
$ 286,070
|
|
Return on average tangible equity ([A]/[B], annualized)
|
|
6.45 %
|
|
7.89 %
|
|
4.27 %
|
|
8.15 %
|
|
|
[a] Prior period financial information has been retrospectively adjusted to include the historical activity of the money business service subsidiaries purchased from BBVA Bancomer USA, Inc. in June 2016.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter Ended June 30, 2016
|
|
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
|
$ 8,750
|
|
$ 4,499
|
|
$ 4,175
|
|
$ 797,066
|
|
$ 9,333
|
|
$ 25,552,413
|
|
$ 26,376,236
|
|
$ 31,773
|
|
Real estate – construction
|
1,675
|
|
1,195
|
|
2,064
|
|
1,983
|
|
2,650
|
|
2,117,823
|
|
2,127,390
|
|
(1,094)
|
|
Commercial real estate – mortgage
|
3,495
|
|
535
|
|
-
|
|
62,381
|
|
5,603
|
|
11,184,061
|
|
11,256,075
|
|
1,684
|
|
Residential real estate – mortgage
|
51,319
|
|
18,866
|
|
1,286
|
|
109,805
|
|
64,341
|
|
13,251,401
|
|
13,497,018
|
|
471
|
|
Equity lines of credit
|
7,279
|
|
3,996
|
|
1,565
|
|
34,043
|
|
-
|
|
2,418,631
|
|
2,465,514
|
|
854
|
|
Equity loans
|
4,378
|
|
1,214
|
|
568
|
|
14,254
|
|
36,485
|
|
456,090
|
|
512,989
|
|
(19)
|
|
Credit card
|
5,588
|
|
3,768
|
|
9,056
|
|
-
|
|
-
|
|
590,475
|
|
608,887
|
|
8,127
|
|
Consumer – direct
|
10,319
|
|
4,670
|
|
3,354
|
|
540
|
|
808
|
|
1,070,803
|
|
1,090,494
|
|
9,924
|
|
Consumer – indirect
|
69,575
|
|
17,053
|
|
5,324
|
|
6,360
|
|
-
|
|
3,248,374
|
|
3,346,686
|
|
13,027
|
|
Covered loans
|
5,124
|
|
4,115
|
|
32,928
|
|
160
|
|
-
|
|
356,327
|
|
398,654
|
|
1,315
|
|
Total loans
|
$ 167,502
|
|
$ 59,911
|
|
$ 60,320
|
|
$ 1,026,592
|
|
$ 119,220
|
|
$ 60,246,398
|
|
$ 61,679,943
|
|
$ 66,062
|
|
Loans held for sale
|
$ -
|
|
$ -
|
|
$ -
|
|
$ -
|
|
$ -
|
|
$ 108,432
|
|
$ 108,432
|
|
$ -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter Ended March 31, 2016
|
|
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
|
$ 17,837
|
|
$ 9,947
|
|
$ 3,012
|
|
$ 568,154
|
|
$ 9,545
|
|
$ 26,255,552
|
|
$ 26,864,047
|
|
$ 18,057
|
|
Real estate – construction
|
4,345
|
|
827
|
|
415
|
|
5,712
|
|
2,664
|
|
2,393,548
|
|
2,407,511
|
|
(302)
|
|
Commercial real estate – mortgage
|
7,865
|
|
829
|
|
807
|
|
71,889
|
|
5,425
|
|
10,560,579
|
|
10,647,394
|
|
22
|
|
Residential real estate – mortgage
|
42,126
|
|
18,321
|
|
1,507
|
|
117,602
|
|
65,173
|
|
13,345,540
|
|
13,590,269
|
|
961
|
|
Equity lines of credit
|
8,959
|
|
3,779
|
|
1,010
|
|
33,991
|
|
-
|
|
2,385,631
|
|
2,433,370
|
|
2,215
|
|
Equity loans
|
7,027
|
|
1,447
|
|
443
|
|
13,925
|
|
37,132
|
|
487,593
|
|
547,567
|
|
606
|
|
Credit card
|
4,876
|
|
3,850
|
|
9,413
|
|
-
|
|
-
|
|
587,166
|
|
605,305
|
|
8,190
|
|
Consumer – direct
|
8,239
|
|
3,201
|
|
2,951
|
|
682
|
|
868
|
|
979,711
|
|
995,652
|
|
8,711
|
|
Consumer – indirect
|
61,460
|
|
11,916
|
|
4,149
|
|
6,386
|
|
-
|
|
3,505,845
|
|
3,589,756
|
|
14,769
|
|
Covered loans
|
5,147
|
|
2,152
|
|
36,783
|
|
693
|
|
-
|
|
379,044
|
|
423,819
|
|
249
|
|
Total loans
|
$ 167,881
|
|
$ 56,269
|
|
$ 60,490
|
|
$ 819,034
|
|
$ 120,807
|
|
$ 60,880,209
|
|
$ 62,104,690
|
|
$ 53,478
|
|
Loans held for sale
|
$ -
|
|
$ -
|
|
$ -
|
|
$ -
|
|
$ -
|
|
$ 96,784
|
|
$ 96,784
|
|
$ -
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
At or Quarter Ended 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
|
|
$ -
|
|
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
|
|
$ -
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
BALANCE SHEET (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
2016
|
|
2015 [a]
|
|
June 30
|
|
March 31 [a]
|
|
December 31
|
|
September 30
|
|
June 30
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks
|
$ 4,829,763
|
|
$ 5,136,283
|
|
$ 4,165,880
|
|
$ 3,949,049
|
|
$ 3,412,125
|
|
Federal funds sold, securities purchased under agreements to resell and interest bearing deposits
|
319,644
|
|
233,411
|
|
330,948
|
|
479,207
|
|
512,244
|
|
Cash and cash equivalents
|
5,149,407
|
|
5,369,694
|
|
4,496,828
|
|
4,428,256
|
|
3,924,369
|
|
Trading account assets
|
4,355,025
|
|
4,358,533
|
|
4,138,132
|
|
4,193,506
|
|
4,879,125
|
|
Investment securities available for sale
|
11,359,159
|
|
11,265,797
|
|
11,050,520
|
|
10,803,660
|
|
10,392,484
|
|
Investment securities held to maturity
|
1,258,253
|
|
1,267,953
|
|
1,322,676
|
|
1,357,801
|
|
1,375,075
|
|
Loans held for sale
|
108,432
|
|
96,784
|
|
70,582
|
|
634,158
|
|
195,616
|
|
Loans
|
61,679,943
|
|
62,104,690
|
|
61,324,084
|
|
60,287,221
|
|
60,007,226
|
|
Allowance for loan losses
|
(843,051)
|
|
(822,440)
|
|
(762,673)
|
|
(722,122)
|
|
(721,471)
|
|
Net loans
|
60,836,892
|
|
61,282,250
|
|
60,561,411
|
|
59,565,099
|
|
59,285,755
|
|
Premises and equipment, net
|
1,290,738
|
|
1,297,539
|
|
1,322,378
|
|
1,310,995
|
|
1,316,869
|
|
Bank owned life insurance
|
708,143
|
|
704,254
|
|
700,285
|
|
697,023
|
|
698,773
|
|
Goodwill
|
5,043,197
|
|
5,043,197
|
|
5,043,197
|
|
5,060,197
|
|
5,060,161
|
|
Other intangible assets
|
23,389
|
|
27,483
|
|
31,576
|
|
40,701
|
|
50,208
|
|
Other real estate owned
|
18,225
|
|
17,877
|
|
20,862
|
|
23,762
|
|
20,188
|
|
Other assets
|
1,602,296
|
|
1,489,428
|
|
1,310,091
|
|
1,362,262
|
|
1,384,264
|
|
Total assets
|
$ 91,753,156
|
|
$ 92,220,789
|
|
$ 90,068,538
|
|
$ 89,477,420
|
|
$ 88,582,887
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
Noninterest bearing
|
$ 20,132,164
|
|
$ 20,416,248
|
|
$ 19,291,533
|
|
$ 19,060,137
|
|
$ 19,048,379
|
|
Interest bearing
|
47,618,154
|
|
48,503,973
|
|
46,690,233
|
|
45,418,270
|
|
43,451,065
|
|
Total deposits
|
67,750,318
|
|
68,920,221
|
|
65,981,766
|
|
64,478,407
|
|
62,499,444
|
|
FHLB and other borrowings
|
5,098,048
|
|
4,383,454
|
|
5,438,620
|
|
6,216,425
|
|
6,778,066
|
|
Federal funds purchased and securities sold under agreements to repurchase
|
386,343
|
|
893,786
|
|
750,154
|
|
639,259
|
|
623,400
|
|
Other short-term borrowings
|
4,352,428
|
|
3,924,781
|
|
4,032,644
|
|
4,167,897
|
|
4,982,154
|
|
Accrued expenses and other liabilities
|
1,439,023
|
|
1,375,370
|
|
1,240,645
|
|
1,531,704
|
|
1,413,480
|
|
Total liabilities
|
79,026,160
|
|
79,497,612
|
|
77,443,829
|
|
77,033,692
|
|
76,296,544
|
|
Shareholder's Equity:
|
|
|
|
|
|
|
|
|
|
|
Preferred stock
|
229,475
|
|
229,475
|
|
229,475
|
|
—
|
|
—
|
|
Common stock — $0.01 par value
|
2,230
|
|
2,230
|
|
2,230
|
|
2,230
|
|
2,230
|
|
Surplus
|
15,022,974
|
|
15,152,077
|
|
15,160,267
|
|
15,237,899
|
|
15,237,241
|
|
Retained deficit
|
(2,536,230)
|
|
(2,658,214)
|
|
(2,696,953)
|
|
(2,788,111)
|
|
(2,917,260)
|
|
Accumulated other comprehensive loss
|
(20,500)
|
|
(31,945)
|
|
(99,336)
|
|
(37,882)
|
|
(64,969)
|
|
Total BBVA Compass Bancshares, Inc. shareholder's equity
|
12,697,949
|
|
12,693,623
|
|
12,595,683
|
|
12,414,136
|
|
12,257,242
|
|
Noncontrolling interests
|
29,047
|
|
29,554
|
|
29,026
|
|
29,592
|
|
29,101
|
|
Total shareholder's equity
|
12,726,996
|
|
12,723,177
|
|
12,624,709
|
|
12,443,728
|
|
12,286,343
|
|
Total liabilities and shareholder's equity
|
$ 91,753,156
|
|
$ 92,220,789
|
|
$ 90,068,538
|
|
$ 89,477,420
|
|
$ 88,582,887
|
|
|
[a] Prior period financial information has been retrospectively adjusted to include the historical activity of the money business service subsidiaries purchased from BBVA Bancomer USA, Inc. in June 2016.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
INCOME STATEMENT (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
2016
|
|
2015 [a]
|
|
June 30
|
|
March 31 [a]
|
|
December 31
|
|
September 30
|
|
June 30
|
|
Interest income:
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on loans
|
$ 559,170
|
|
$ 561,083
|
|
$ 546,392
|
|
$ 540,517
|
|
$ 531,394
|
|
Interest on investment securities available for sale
|
36,442
|
|
46,197
|
|
49,066
|
|
46,646
|
|
48,204
|
|
Interest on investment securities held to maturity
|
6,759
|
|
6,795
|
|
6,870
|
|
6,953
|
|
6,924
|
|
Interest on federal funds sold, securities purchased under agreements to resell and interest bearing deposits
|
4,346
|
|
4,366
|
|
1,595
|
|
1,666
|
|
1,363
|
|
Interest on trading account assets
|
13,412
|
|
14,321
|
|
13,058
|
|
14,431
|
|
13,832
|
|
Total interest income
|
620,129
|
|
632,762
|
|
616,981
|
|
610,213
|
|
601,717
|
|
Interest expense:
|
|
|
|
|
|
|
|
|
|
|
Interest on deposits
|
76,933
|
|
77,815
|
|
71,342
|
|
68,282
|
|
65,201
|
|
Interest on FHLB and other borrowings
|
19,592
|
|
18,012
|
|
22,920
|
|
20,422
|
|
27,540
|
|
Interest on federal funds purchased and securities sold under agreements to repurchase
|
5,434
|
|
6,157
|
|
2,856
|
|
2,506
|
|
1,702
|
|
Interest on other short-term borrowings
|
13,932
|
|
13,896
|
|
15,774
|
|
11,129
|
|
15,291
|
|
Total interest expense
|
115,891
|
|
115,880
|
|
112,892
|
|
102,339
|
|
109,734
|
|
Net interest income
|
504,238
|
|
516,882
|
|
504,089
|
|
507,874
|
|
491,983
|
|
Provision for loan losses
|
86,673
|
|
113,245
|
|
76,307
|
|
29,151
|
|
46,149
|
|
Net interest income after provision for loan losses
|
417,565
|
|
403,637
|
|
427,782
|
|
478,723
|
|
445,834
|
|
Noninterest income:
|
|
|
|
|
|
|
|
|
|
|
Service charges on deposit accounts
|
51,921
|
|
51,425
|
|
54,357
|
|
54,917
|
|
53,690
|
|
Card and merchant processing fees
|
31,509
|
|
29,742
|
|
28,900
|
|
29,024
|
|
28,711
|
|
Retail investment sales
|
26,985
|
|
22,567
|
|
24,040
|
|
26,055
|
|
26,373
|
|
Investment banking and advisory fees
|
28,335
|
|
23,604
|
|
20,260
|
|
17,842
|
|
36,799
|
|
Money transfer income
|
26,477
|
|
24,425
|
|
24,735
|
|
24,868
|
|
23,375
|
|
Asset management fees
|
8,386
|
|
8,805
|
|
8,745
|
|
7,918
|
|
8,435
|
|
Corporate and correspondent investment sales
|
10,103
|
|
4,413
|
|
9,710
|
|
6,047
|
|
7,984
|
|
Mortgage banking
|
602
|
|
(3,434)
|
|
5,989
|
|
554
|
|
12,556
|
|
Bank owned life insurance
|
4,455
|
|
4,416
|
|
5,135
|
|
4,345
|
|
4,394
|
|
Investment securities gains, net
|
21,684
|
|
8,353
|
|
14,689
|
|
6,736
|
|
27,399
|
|
Loss on prepayment of FHLB and other borrowings
|
—
|
|
—
|
|
(1,898)
|
|
—
|
|
(3,569)
|
|
Other
|
67,789
|
|
78,889
|
|
67,536
|
|
82,414
|
|
58,235
|
|
Total noninterest income
|
278,246
|
|
253,205
|
|
262,198
|
|
260,720
|
|
284,382
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
Salaries, benefits and commissions
|
277,166
|
|
279,769
|
|
276,647
|
|
271,143
|
|
272,071
|
|
Professional services
|
58,401
|
|
56,367
|
|
64,450
|
|
55,476
|
|
51,758
|
|
Equipment
|
59,508
|
|
60,441
|
|
57,739
|
|
58,414
|
|
57,458
|
|
Net occupancy
|
39,999
|
|
39,272
|
|
41,304
|
|
39,706
|
|
40,549
|
|
Money transfer expense
|
17,768
|
|
15,600
|
|
16,334
|
|
16,514
|
|
14,755
|
|
Marketing
|
11,506
|
|
12,709
|
|
9,447
|
|
10,624
|
|
11,619
|
|
Communications
|
5,463
|
|
5,175
|
|
5,423
|
|
5,856
|
|
5,360
|
|
Amortization of intangibles
|
4,094
|
|
4,093
|
|
9,125
|
|
9,507
|
|
9,889
|
|
Other
|
67,132
|
|
118,718
|
|
98,226
|
|
90,135
|
|
76,028
|
|
Total noninterest expense
|
541,037
|
|
592,144
|
|
578,695
|
|
557,375
|
|
539,487
|
|
Net income before income tax expense
|
154,774
|
|
64,698
|
|
111,285
|
|
182,068
|
|
190,729
|
|
Income tax expense
|
32,272
|
|
25,431
|
|
19,637
|
|
52,428
|
|
50,335
|
|
Net income
|
122,502
|
|
39,267
|
|
91,648
|
|
129,640
|
|
140,394
|
|
Less: net income attributable to noncontrolling interests
|
518
|
|
528
|
|
490
|
|
491
|
|
590
|
|
Net income attributable to BBVA Compass Bancshares, Inc.
|
$ 121,984
|
|
$ 38,739
|
|
$ 91,158
|
|
$ 129,149
|
|
$ 139,804
|
|
|
[a] Prior period financial information has been retrospectively adjusted to include the historical activity of the money business service subsidiaries purchased from BBVA Bancomer USA, Inc. in June 2016.
|
Logo - http://photos.prnewswire.com/prnh/20140825/139263
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bbva-compass-reports-net-income-of-162-million-for-the-first-half-of-2016-300306227.html
SOURCE BBVA Compass
Source: PR Newswire
(July 29, 2016 - 9:31 AM EDT)
News by QuoteMedia
www.quotemedia.com
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