HOUSTON, June 28, 2017 /PRNewswire/ -- BBVA
Compass Bancshares, Inc., a Sunbelt-based bank holding company
(BBVA Compass), announced today that the Board of Governors of the
Federal Reserve System (Federal Reserve) did not object to its
capital plan and capital actions proposed in the capital plan. BBVA
Compass' capital plan includes common dividends of $200 million during the covered period, subject
to approval by BBVA Compass' board of directors.
"For the fourth consecutive year the Federal Reserve did not
object to our proposed capital plan and the actions proposed in the
plan," said Onur Genç, president and CEO of BBVA Compass. "The
results of the stress tests and review of our capital management
process are a testament to the strength of our bank, our strong
capital position and the disciplined approach we take to managing
our risk profile."
BBVA Compass submitted its capital plan, which was approved by
its board of directors, to the Federal Reserve in April 2017 as part of the Comprehensive Capital
Analysis and Review (CCAR) of the 34 largest U.S. bank holding
companies. The capital plan includes proposed potential capital
actions covering the period from July 1,
2017 through June 30, 2018.
This marks the fourth year that BBVA Compass has been subject to
CCAR and, in each of the periods covered, has received a
no-objection response by the Federal Reserve to its capital
plan.
On June 22, the Federal Reserve
disclosed the results of its 2017 Dodd-Frank Act Stress Test
(DFAST) for the same 34 bank holding companies. Each of BBVA
Compass' projected regulatory capital ratios exceeded the
applicable regulatory minimums as defined by the Federal Reserve
for all the quarters included in the nine-quarter forecasting
horizon beginning January 1, 2017 and
ending March 31, 2019 under the
hypothetical supervisory severely adverse scenario.
Additional information pertaining to BBVA Compass' CCAR and
DFAST results can be found on our website at bbvacompass.com under
the Investor Relations tab.
To learn more about BBVA Compass, visit: bbvacompass.com
For more news visit: bbva.com and newsroom.bbvacompass.com
About BBVA Group
BBVA (NYSE: BBVA) is a
customer-centric global financial services group founded in 1857.
The Group is the largest financial institution in Spain and Mexico and it has leading franchises in
South America and the Sunbelt
Region of the United States; and
it is also the leading shareholder in Garanti, Turkey's biggest bank for market
capitalization. Its diversified business is focused on high-growth
markets and it 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. More information about BBVA Group can be found at
bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based
financial institution that operates 657 branches, including 342 in
Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 38 in Colorado and 19 in New Mexico. BBVA Compass ranks among the top
25 largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 5th nationally in
the total number of SBA loans originated in fiscal year 2016.
Additional information about BBVA Compass can be found at
bbvacompass.com. For more BBVA Compass news, follow
@BBVACompassNews on Twitter or visit
newsroom.bbvacompass.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
1, 2017, as updated by our subsequent SEC filings.
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SOURCE BBVA Compass