HOUSTON, Oct. 30, 2018 /PRNewswire/ --
- Quarterly net income totals $175
million
-
- Net income up 34 percent from a year ago and 39 percent on a
year-to-date basis
- Return on average assets and return on average tangible
equity1 for the quarter were 0.77 percent and 8.35
percent, respectively
- Total revenue reaches record level; up 9 percent from prior
year levels and 10 percent on a year-to-date basis
-
- Net interest income increases $69
million or 12 percent from a year ago
- Net interest margin (FTE) increases 14 basis points from prior
year and up 21 basis points on a year-to-date basis
- Positive operating leverage results in quarterly operating
income1 of $311 million,
an increase of 14 percent from the third quarter of 2017
- Balanced loan growth supported by continued deposit
generation
-
- Total loans rise to $64.5
billion, up 7 percent year-over-year
- Newly funded customer loans of $5.9
billion in the quarter bring year-to-date total to
$16.0 billion in 2018, up 29 percent
from the prior year
- Total deposits of $70.4 billion,
up 5 percent from a year ago levels
- Key credit quality metrics show improvement during the
quarter
-
- Nonperforming loan ratio drops to 1.04 percent
- Net charge-off ratio at 45 basis points year-to-date compared
to 48 basis points in 2017
- Allowance to loan ratio at 1.36 percent and NPL coverage ratio
increases to 130 percent
- BBVA Compass mobile banking app deemed industry leader in
two areas
-
- Recognized for prowess in ease of use and customer service in
Javelin Strategy & Research's 2018 Mobile Banking
Scorecard
- Marks the fifth consecutive year BBVA Compass mobile banking
app has been recognized by the independent research firm
BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding
company (BBVA Compass), reported today net income of $175 million for the third quarter of 2018, a 34
percent increase from the $130
million earned during the third quarter of 2017. Included in
third quarter 2017 results is approximately $60 million (pre-tax) of provision expense
related to Hurricanes Harvey and Irma. Return on average assets and
return on average tangible equity1 for the third quarter
of 2018 were 0.77 percent and 8.35 percent, respectively.
Net income for the first nine months of 2018 totaled
$568 million, an increase of 39
percent from the $409 million earned
during the first nine months of 2017. Return on average assets and
return on average tangible equity1 for the first nine
months of 2018 were 0.85 percent and 9.28 percent,
respectively.
"Results for the quarter continue to reflect the positive
underlying trends throughout many of our businesses and allowed us
to post record quarterly revenue," said Onur Genç, president and
CEO of BBVA Compass. "The increase in net interest income certainly
reflects the benefit of higher short-term interest rates, coupled
with our ability to expand new and existing loan and deposit
relationships with our clients. During the quarter, newly funded
loans totaled more than $5.9 billion
and for the year exceed $16.0
billion, a 29 percent increase over last year. As we enter
the final quarter of 2018, our balance sheet is well-positioned to
continue benefiting from higher interest rates, our digital
transformation efforts continue to drive new industry-leading
product offerings and enhance customer experience, and our team is
focused on ending the year on a strong note while building momentum
for next year."
Total revenue for the quarter was a record $917 million, an increase of 9 percent from the
third quarter of 2017 and up 10 percent on a year-to-date basis.
Revenue growth was driven by an increase in net interest income.
Net interest income totaled $658
million, an increase of $69
million or 12 percent from the third quarter of 2017. The
percent net interest margin in the third quarter of 2018 was 3.27
percent, an increase of 14 basis points from a year ago. On a
year-to-date basis, net interest income totaled $1.9 billion, an increase of $198 million or 11 percent while the percentage
net interest margin was 3.28 percent, up 21 basis points compared
to the same timeframe a year ago.
Noninterest income for the quarter totaled $258 million, an increase of 1 percent compared
to the $255 million recorded in the
third quarter of 2017. Positive performances in card and merchant
processing fees (+37 percent), corporate and correspondent
investment sales (+143 percent), service charges on deposit
accounts (+8 percent) and mortgage banking (+95 percent) were
offset, in part, by a decline in underwriting activity associated
with investment banking and advisory fees (-54 percent) and a
decline in other income that primarily relates to certain
interchange fees that were reclassified to card and merchant
processing fees in 2018.
Noninterest expense totaled $606
million, an increase of 5 percent compared to the year ago
quarter. On a year-to-date basis, overall expense growth has been
well-contained at 3 percent. Maintaining good expense controls,
coupled with strong revenue generation, resulted in positive
operating leverage in the quarter as operating income totaled
$311 million, an increase of
$38 million or 14 percent compared to
the prior year quarter.
Total loans at the end of the third quarter of 2018 were
$64.5 billion, an increase of 7
percent from the $60.4 billion at the
end of the third quarter of 2017.
"Loan growth in the quarter was well-balanced between both our
commercial and consumer loan portfolios," said Genç. "Commercial
growth was driven by a 6 percent increase in C&I lending and
consumer growth was paced by a 51 percent increase in direct
consumer lending and a 29 percent increase in credit cards,
reflecting the success of our fully-digital Express Personal Loan
product and revamped credit card offering launched earlier this
year."
Total deposits at the end of the third quarter of 2018 were
$70.4 billion, a 5 percent increase
from the $67.2 billion at the end of
the third quarter of 2017. The loan to deposit ratio ended the
quarter at 92 percent, up slightly from 90 percent a year ago.
"While increasing activity with our customers and improving our
profitability profile has been our primary focal point, we also
recognize the importance of being committed to maintaining sound
underwriting standards and a strong risk profile," noted Genç.
During the quarter, many of our key credit quality metrics
showed improvement. Nonperforming loans as a percentage of total
loans were 1.04 percent, down 7 basis points from second quarter
2018 levels and down 14 basis points from the third quarter of
2017. Net charge-offs as a percentage of average loans were 49
basis points in the quarter. On a year-to-date basis, net
charge-offs as a percentage of average loans were 45 basis points
compared to 48 basis points in the same period a year ago. The
allowance for loan losses as a percentage of total loans ended the
quarter at 1.36 percent, unchanged from second quarter 2018 levels
while the coverage ratio of nonperforming loans rose to 130
percent.
Total shareholder's equity at the end of the third quarter
totaled $13.3 billion, a 2 percent
increase from $13.1 billion at the
end of the third quarter of 2017. The CET1 ratio stood at 12.08
percent2 at the end of the third quarter of 2018,
relatively unchanged from a year ago and up 28 basis points from
the end of the fourth quarter of 2017. All of BBVA Compass'
regulatory capital ratios2 continue to significantly
exceed the requirements under "well-capitalized" guidelines.
The BBVA Compass Mobile Banking App was named a leader in
both the ease of use and customer service categories in Javelin
Strategy & Research's 2018 Mobile Banking Scorecard,
marking the fifth consecutive year the app has been recognized as a
leader in mobile banking by the independent research firm.
Together, the two categories make up more than a third of the
weighting of the study, with ease of use being the most critical
component. Only three banks are recognized as leaders in each
category.
_________________________
|
1 Return
on average tangible equity and operating income are non-GAAP
financial measures that we believe aid in understanding certain
areas of our performance. The calculation of these measures is
included on the page titled Non-GAAP Reconciliation.
|
2
Regulatory capital ratios at September 30, 2018, are
estimated.
|
FTE – fully taxable
equivalent
|
About BBVA Compass
BBVA Compass is a Sunbelt-based
financial institution that operates 645 branches, including 332 in
Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 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 (6th). BBVA Compass has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 6th nationally in
the total number of SBA loans originated in fiscal year 2017.
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 (NYSE: BBVA) is a
customer-centric global financial services group founded in 1857.
The Group has a strong leadership position in the Spanish market,
is the largest financial institution in Mexico, 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.
On April 5, 2018, BBVA filed its
annual report on Form 20-F for the year ended December 31, 2017, with the U.S. Securities and
Exchange Commission. A copy can be accessed on the BBVA website at
https://shareholdersandinvestors.bbva.com/the-share/adrs-english/.
Holders of BBVA's American Depositary Receipts (ADRs) may request a
hard copy of the Form 20-F for the year ended December 31, 2017, including 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 February 28, 2018, as updated by our subsequent
SEC filings.
BBVA COMPASS
BANCSHARES, INC.
|
(Unaudited)
|
(Dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
%
|
|
Nine Months Ended
September 30,
|
|
%
|
|
|
|
|
|
|
|
2018
|
|
2017
|
|
Change
|
|
2018
|
|
2017
|
|
Change
|
|
|
|
|
|
|
EARNINGS
SUMMARY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
658,286
|
|
$
589,361
|
|
12
|
|
$
1,924,390
|
|
$
1,726,622
|
|
11
|
|
|
|
|
|
|
Noninterest income
[a]
|
258,459
|
|
254,761
|
|
1
|
|
786,303
|
|
745,773
|
|
5
|
|
|
|
|
|
|
Total revenue
[a]
|
916,745
|
|
844,122
|
|
9
|
|
2,710,693
|
|
2,472,395
|
|
10
|
|
|
|
|
|
|
Investment securities
gain, net
|
—
|
|
3,033
|
|
NM
|
|
—
|
|
3,033
|
|
NM
|
|
|
|
|
|
|
Provision for loan
losses
|
94,964
|
|
103,434
|
|
(8)
|
|
243,273
|
|
228,858
|
|
6
|
|
|
|
|
|
|
Noninterest
expense
|
605,510
|
|
573,962
|
|
5
|
|
1,747,968
|
|
1,695,759
|
|
3
|
|
|
|
|
|
|
Pretax
income
|
216,271
|
|
169,759
|
|
27
|
|
719,452
|
|
550,811
|
|
31
|
|
|
|
|
|
|
Income tax
expense
|
41,756
|
|
39,308
|
|
6
|
|
151,849
|
|
142,097
|
|
7
|
|
|
|
|
|
|
Net income
|
174,515
|
|
130,451
|
|
34
|
|
567,603
|
|
408,714
|
|
39
|
|
|
|
|
|
|
Net income
attributable to noncontrolling interests
|
426
|
|
584
|
|
(27)
|
|
1,482
|
|
1,458
|
|
2
|
|
|
|
|
|
|
Net income
attributable to BBVA Compass Bancshares, Inc.
|
$
174,089
|
|
$
129,867
|
|
34
|
|
$
566,121
|
|
$
407,256
|
|
39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
0.77 %
|
|
0.59 %
|
|
|
|
0.85 %
|
|
0.62 %
|
|
|
|
|
|
|
|
|
Return on average
tangible equity [b]
|
8.35
|
|
6.40
|
|
|
|
9.28
|
|
6.87
|
|
|
|
|
|
|
|
|
Average common equity
to average assets
|
14.51
|
|
14.74
|
|
|
|
14.56
|
|
14.56
|
|
|
|
|
|
|
|
|
Average loans to
average total deposits
|
91.41
|
|
91.89
|
|
|
|
90.56
|
|
90.93
|
|
|
|
|
|
|
|
|
Common equity tier I
capital (CET1) [c]
|
12.08
|
|
12.07
|
|
|
|
12.08
|
|
12.07
|
|
|
|
|
|
|
|
|
Tier I capital ratio
[c]
|
12.41
|
|
12.42
|
|
|
|
12.41
|
|
12.42
|
|
|
|
|
|
|
|
|
Total capital ratio
[c]
|
14.58
|
|
14.63
|
|
|
|
14.58
|
|
14.63
|
|
|
|
|
|
|
|
|
Leverage ratio
[c]
|
10.12
|
|
10.00
|
|
|
|
10.12
|
|
10.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average for Three
Months
|
|
|
|
Average for Nine
Months
|
|
|
|
Ending
Balance
|
|
|
|
Ended September
30,
|
|
%
|
|
Ended September
30,
|
|
%
|
|
September
30,
|
|
%
|
|
2018
|
|
2017
|
|
Change
|
|
2018
|
|
2017
|
|
Change
|
|
2018
|
|
2017
|
|
Change
|
BALANCE SHEET
HIGHLIGHTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
loans
|
$
64,316,342
|
|
$
60,271,504
|
|
7
|
|
$
63,247,623
|
|
$
60,166,823
|
|
5
|
|
$
64,530,848
|
|
$
60,392,987
|
|
7
|
Total debt
securities
|
13,480,726
|
|
12,883,837
|
|
5
|
|
13,336,448
|
|
12,666,227
|
|
5
|
|
13,625,428
|
|
12,897,814
|
|
6
|
Earning
assets
|
81,095,701
|
|
77,344,927
|
|
5
|
|
79,758,194
|
|
77,927,326
|
|
2
|
|
81,212,434
|
|
76,768,653
|
|
6
|
Total
assets
|
90,118,668
|
|
87,299,979
|
|
3
|
|
88,982,476
|
|
87,482,356
|
|
2
|
|
90,047,656
|
|
85,683,660
|
|
5
|
Noninterest bearing
demand deposits
|
20,990,763
|
|
21,072,789
|
|
—
|
|
21,282,629
|
|
20,922,150
|
|
2
|
|
20,968,391
|
|
21,094,235
|
|
(1)
|
Interest bearing
transaction accounts
|
34,463,223
|
|
32,108,141
|
|
7
|
|
34,000,590
|
|
32,689,955
|
|
4
|
|
34,732,504
|
|
32,637,845
|
|
6
|
Total transaction
accounts
|
55,453,986
|
|
53,180,930
|
|
4
|
|
55,283,219
|
|
53,612,105
|
|
3
|
|
55,700,895
|
|
53,732,080
|
|
4
|
Total
deposits
|
70,363,598
|
|
65,589,724
|
|
7
|
|
69,844,006
|
|
66,166,611
|
|
6
|
|
70,378,057
|
|
67,213,567
|
|
5
|
Total shareholder's
equity
|
13,334,169
|
|
13,130,915
|
|
2
|
|
13,215,032
|
|
12,997,116
|
|
2
|
|
13,342,487
|
|
13,115,903
|
|
2
|
|
[a] Excludes
net gain on sales of investment securities.
|
[b] 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.
|
[c] Current
period regulatory capital ratios are estimated.
|
NM = Not
meaningful
|
BBVA COMPASS
BANCSHARES, INC.
|
(Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
2018
|
|
2017
|
|
September
30
|
|
June
30
|
|
March
31
|
|
December
31
|
|
September
30
|
NONPERFORMING
ASSETS
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans
[a]
|
$
628,159
|
|
$662,991
|
|
$647,210
|
|
$
658,865
|
|
$
666,812
|
Loans 90 days or more
past due [b]
|
44,765
|
|
39,143
|
|
45,904
|
|
58,378
|
|
43,049
|
TDRs 90 days or more
past due
|
444
|
|
491
|
|
700
|
|
751
|
|
963
|
Total nonperforming
loans [a]
|
673,368
|
|
702,625
|
|
693,814
|
|
717,994
|
|
710,824
|
Other real estate
owned, net (OREO)
|
18,706
|
|
16,499
|
|
16,147
|
|
17,278
|
|
22,012
|
Other repossessed
assets
|
9,875
|
|
13,117
|
|
11,278
|
|
13,473
|
|
11,443
|
Total nonperforming
assets
|
$
701,949
|
|
$732,241
|
|
$721,239
|
|
$
748,745
|
|
$
744,279
|
|
|
|
|
|
|
|
|
|
|
TDRs accruing and
past due less than 90 days
|
$
92,606
|
|
$
99,251
|
|
$101,285
|
|
$
100,492
|
|
$
95,521
|
|
|
|
|
|
|
|
|
|
|
Total nonperforming
loans as a % of loans
|
1.04 %
|
|
1.11 %
|
|
1.11 %
|
|
1.16 %
|
|
1.18 %
|
Total nonperforming
assets as a % of total loans, other real estate, and other
repossessed assets
|
1.09
|
|
1.16
|
|
1.16
|
|
1.21
|
|
1.23
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
2018
|
|
2017
|
|
September
30
|
|
June
30
|
|
March
31
|
|
December
31
|
|
September
30
|
ALLOWANCE FOR LOAN
LOSSES
|
|
|
|
|
|
|
|
|
|
Balance at beginning
of period
|
$
860,000
|
|
$832,071
|
|
$842,760
|
|
$
849,119
|
|
$
816,952
|
Net charge-offs
(NCO)
|
79,571
|
|
63,351
|
|
67,718
|
|
65,194
|
|
71,267
|
Provision for loan
losses
|
94,964
|
|
91,280
|
|
57,029
|
|
58,835
|
|
103,434
|
Balance at end of
period
|
$
875,393
|
|
$860,000
|
|
$832,071
|
|
$
842,760
|
|
$
849,119
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses as a % of total loans
|
1.36 %
|
|
1.36 %
|
|
1.34 %
|
|
1.37 %
|
|
1.41 %
|
Allowance for loan
losses as a % of nonperforming loans [c]
|
130.00
|
|
122.40
|
|
119.93
|
|
117.38
|
|
119.46
|
Allowance for loan
losses as a % of nonperforming assets [c]
|
124.71
|
|
117.45
|
|
115.37
|
|
112.56
|
|
114.09
|
|
|
|
|
|
|
|
|
|
|
Annualized as a % of
average loans:
|
|
|
|
|
|
|
|
|
|
NCO - QTD
|
0.49
|
|
0.40
|
|
0.44
|
|
0.42
|
|
0.47
|
NCO - YTD
|
0.45
|
|
0.42
|
|
0.44
|
|
0.47
|
|
0.48
|
|
[a] Includes
loans held for sale.
|
[b] Excludes
loans classified as troubled debt restructuring (TDRs).
|
[c] Includes
loans held for sale that are on nonaccrual status.
|
BBVA COMPASS
BANCSHARES, INC.
|
(Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
2018
|
|
2017
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
YIELD/RATE
ANALYSIS
|
|
|
|
|
|
|
|
|
|
|
|
(Taxable Equivalent
Basis)
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
Earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
$64,316,342
|
|
$763,165
|
|
4.71 %
|
|
$60,271,504
|
|
$642,670
|
|
4.23 %
|
Debt securities
available for sale [a]
|
11,416,609
|
|
53,201
|
|
1.85
|
|
11,837,526
|
|
50,608
|
|
1.70
|
Debt securities held
to maturity
|
2,360,654
|
|
17,548
|
|
2.95
|
|
1,122,893
|
|
10,088
|
|
3.56
|
Other earning assets
[b]
|
3,298,633
|
|
18,282
|
|
2.20
|
|
4,189,586
|
|
21,135
|
|
2.00
|
Total earning assets
[a]
|
81,392,238
|
|
852,196
|
|
4.15
|
|
77,421,509
|
|
724,501
|
|
3.71
|
Allowance for loan
losses
|
(866,131)
|
|
|
|
|
|
(821,227)
|
|
|
|
|
Unrealized loss on
debt securities available for sale
|
(296,537)
|
|
|
|
|
|
(76,582)
|
|
|
|
|
Other
assets
|
9,889,098
|
|
|
|
|
|
10,776,279
|
|
|
|
|
Total
assets
|
$90,118,668
|
|
|
|
|
|
$87,299,979
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
Shareholder's Equity
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing
demand deposits
|
$
7,703,562
|
|
$
12,644
|
|
0.65
|
|
$
7,557,010
|
|
$
6,819
|
|
0.36
|
Savings and money
market accounts
|
26,759,661
|
|
63,796
|
|
0.95
|
|
24,551,131
|
|
27,962
|
|
0.45
|
Certificates and
other time deposits
|
14,909,612
|
|
63,458
|
|
1.69
|
|
12,408,794
|
|
40,302
|
|
1.29
|
Total interest
bearing deposits
|
49,372,835
|
|
139,898
|
|
1.12
|
|
44,516,935
|
|
75,083
|
|
0.67
|
FHLB and other
borrowings
|
4,412,717
|
|
37,131
|
|
3.34
|
|
5,053,340
|
|
29,904
|
|
2.35
|
Federal funds
purchased and securities sold under agreement to repurchase
[b]
|
172,277
|
|
3,169
|
|
7.30
|
|
52,034
|
|
4,623
|
|
35.25
|
Other short-term
borrowings
|
77,413
|
|
579
|
|
2.97
|
|
1,386,329
|
|
3,641
|
|
1.04
|
Total interest
bearing liabilities
|
54,035,242
|
|
180,777
|
|
1.33
|
|
51,008,638
|
|
113,251
|
|
0.88
|
Noninterest bearing
deposits
|
20,990,763
|
|
|
|
|
|
21,072,789
|
|
|
|
|
Other noninterest
bearing liabilities
|
1,758,494
|
|
|
|
|
|
2,087,637
|
|
|
|
|
Total
liabilities
|
76,784,499
|
|
|
|
|
|
74,169,064
|
|
|
|
|
Shareholder's
equity
|
13,334,169
|
|
|
|
|
|
13,130,915
|
|
|
|
|
Total liabilities and
shareholder's equity
|
$90,118,668
|
|
|
|
|
|
$87,299,979
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income/
net interest spread
|
|
|
671,419
|
|
2.82 %
|
|
|
|
611,250
|
|
2.83 %
|
Net yield on earning
assets
|
|
|
|
|
3.27 %
|
|
|
|
|
|
3.13 %
|
|
|
|
|
|
|
|
|
|
|
|
|
Total taxable
equivalent adjustment
|
|
|
13,133
|
|
|
|
|
|
21,889
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
|
$658,286
|
|
|
|
|
|
$589,361
|
|
|
|
[a] Excludes
adjustment for market valuation.
|
[b] Yield/rate
reflects impact of balance sheet offsetting.
|
BBVA COMPASS
BANCSHARES, INC.
|
(Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
2018
|
|
2017
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
Average
Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
YIELD/RATE
ANALYSIS
|
|
|
|
|
|
|
|
|
|
|
|
(Taxable Equivalent
Basis)
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
Earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
$63,247,623
|
|
$2,160,341
|
|
4.57 %
|
|
$60,166,823
|
|
$1,859,740
|
|
4.13 %
|
Debt securities
available for sale [a]
|
11,458,832
|
|
163,598
|
|
1.91
|
|
11,626,864
|
|
155,840
|
|
1.79
|
Debt securities held
to maturity
|
2,149,928
|
|
45,971
|
|
2.86
|
|
1,141,894
|
|
29,620
|
|
3.47
|
Other earning assets
[b]
|
3,174,123
|
|
46,748
|
|
1.97
|
|
5,094,276
|
|
67,863
|
|
1.78
|
Total earning assets
[a]
|
80,030,506
|
|
2,416,658
|
|
4.04
|
|
78,029,857
|
|
2,113,063
|
|
3.62
|
Allowance for loan
losses
|
(850,392)
|
|
|
|
|
|
(835,915)
|
|
|
|
|
Unrealized loss on
debt securities available for sale
|
(272,312)
|
|
|
|
|
|
(102,531)
|
|
|
|
|
Other
assets
|
10,074,674
|
|
|
|
|
|
10,390,945
|
|
|
|
|
Total
assets
|
$88,982,476
|
|
|
|
|
|
$87,482,356
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
Shareholder's Equity
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing
demand deposits
|
$
7,946,242
|
|
33,250
|
|
0.56
|
|
$
7,863,401
|
|
19,211
|
|
0.33
|
Savings and money
market accounts
|
26,054,348
|
|
151,479
|
|
0.78
|
|
24,826,554
|
|
72,643
|
|
0.39
|
Certificates and
other time deposits
|
14,560,787
|
|
168,839
|
|
1.55
|
|
12,554,506
|
|
119,447
|
|
1.27
|
Total interest
bearing deposits
|
48,561,377
|
|
353,568
|
|
0.97
|
|
45,244,461
|
|
211,301
|
|
0.62
|
FHLB and other
borrowings
|
3,903,295
|
|
93,799
|
|
3.21
|
|
4,115,511
|
|
71,422
|
|
2.32
|
Federal funds
purchased and securities sold under agreement to repurchase
[b]
|
100,045
|
|
5,104
|
|
6.82
|
|
64,676
|
|
16,462
|
|
34.03
|
Other short-term
borrowings
|
69,242
|
|
1,490
|
|
2.88
|
|
2,239,427
|
|
24,233
|
|
1.45
|
Total interest
bearing liabilities
|
52,633,959
|
|
453,961
|
|
1.15
|
|
51,664,075
|
|
323,418
|
|
0.84
|
Noninterest bearing
deposits
|
21,282,629
|
|
|
|
|
|
20,922,150
|
|
|
|
|
Other noninterest
bearing liabilities
|
1,850,856
|
|
|
|
|
|
1,899,015
|
|
|
|
|
Total
liabilities
|
75,767,444
|
|
|
|
|
|
74,485,240
|
|
|
|
|
Shareholder's
equity
|
13,215,032
|
|
|
|
|
|
12,997,116
|
|
|
|
|
Total liabilities and
shareholder's equity
|
$88,982,476
|
|
|
|
|
|
$87,482,356
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income/
net interest spread
|
|
|
1,962,697
|
|
2.89 %
|
|
|
|
1,789,645
|
|
2.78 %
|
Net yield on earning
assets
|
|
|
|
|
3.28 %
|
|
|
|
|
|
3.07 %
|
|
|
|
|
|
|
|
|
|
|
|
|
Total taxable
equivalent adjustment
|
|
|
38,307
|
|
|
|
|
|
63,023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
|
$1,924,390
|
|
|
|
|
|
$1,726,622
|
|
|
|
[a] Excludes
adjustment for market valuation.
|
[b] Yield/rate
reflects impact of balance sheet offsetting.
|
BBVA COMPASS
BANCSHARES, INC.
|
(Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine
Months
|
|
|
|
Three Months
Ended
|
|
Ended September
30,
|
|
%
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
Change
|
|
September
30
|
|
June
30
|
|
March
31
|
|
December
31
|
|
September
30
|
NONINTEREST
INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges on
deposit accounts
|
$
175,067
|
|
$
166,040
|
|
5
|
|
$
60,325
|
|
$
58,581
|
|
$
56,161
|
|
$
56,070
|
|
$
55,953
|
Card and merchant
processing fees
|
127,945
|
|
94,749
|
|
35
|
|
44,219
|
|
44,048
|
|
39,678
|
|
33,380
|
|
32,297
|
Retail investment
sales
|
88,176
|
|
82,876
|
|
6
|
|
28,286
|
|
29,782
|
|
30,108
|
|
26,338
|
|
26,817
|
Investment banking
and advisory fees
|
62,398
|
|
78,744
|
|
(21)
|
|
13,956
|
|
24,546
|
|
23,896
|
|
24,957
|
|
30,500
|
Money transfer
income
|
68,049
|
|
77,408
|
|
(12)
|
|
23,441
|
|
23,920
|
|
20,688
|
|
24,101
|
|
24,881
|
Corporate and
correspondent investment sales
|
40,901
|
|
26,249
|
|
56
|
|
12,490
|
|
16,355
|
|
12,056
|
|
11,803
|
|
5,145
|
Asset management
fees
|
32,902
|
|
30,162
|
|
9
|
|
11,143
|
|
10,989
|
|
10,770
|
|
10,303
|
|
10,336
|
Mortgage
banking
|
23,078
|
|
9,636
|
|
139
|
|
6,717
|
|
7,964
|
|
8,397
|
|
4,720
|
|
3,450
|
Bank owned life
insurance
|
13,187
|
|
12,711
|
|
4
|
|
4,597
|
|
4,375
|
|
4,215
|
|
4,397
|
|
4,322
|
Other
|
154,600
|
|
167,198
|
|
(8)
|
|
53,285
|
|
49,459
|
|
51,856
|
|
101,100
|
|
61,060
|
|
786,303
|
|
745,773
|
|
5
|
|
258,459
|
|
270,019
|
|
257,825
|
|
297,169
|
|
254,761
|
Investment securities
gains, net
|
—
|
|
3,033
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
3,033
|
Total noninterest
income
|
$
786,303
|
|
$
748,806
|
|
5
|
|
$
258,459
|
|
$270,019
|
|
$257,825
|
|
$
297,169
|
|
$
257,794
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST
EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries, benefits
and commissions
|
$
868,971
|
|
$
835,825
|
|
4
|
|
$
292,679
|
|
$286,852
|
|
$289,440
|
|
$
296,146
|
|
$
279,384
|
Equipment
|
190,759
|
|
184,691
|
|
3
|
|
63,739
|
|
63,660
|
|
63,360
|
|
63,200
|
|
60,656
|
Professional
services
|
197,625
|
|
187,422
|
|
5
|
|
68,403
|
|
68,577
|
|
60,645
|
|
76,068
|
|
64,775
|
Net
occupancy
|
125,607
|
|
125,568
|
|
—
|
|
42,514
|
|
42,671
|
|
40,422
|
|
41,125
|
|
42,227
|
Money transfer
expense
|
46,143
|
|
50,069
|
|
(8)
|
|
16,120
|
|
16,302
|
|
13,721
|
|
15,721
|
|
15,938
|
Marketing
|
32,982
|
|
44,270
|
|
(25)
|
|
12,381
|
|
11,814
|
|
8,787
|
|
7,950
|
|
14,996
|
Communications
|
21,341
|
|
15,584
|
|
37
|
|
10,827
|
|
5,251
|
|
5,263
|
|
4,970
|
|
5,084
|
Other
|
264,540
|
|
252,330
|
|
5
|
|
98,847
|
|
84,418
|
|
81,275
|
|
110,648
|
|
90,902
|
Total noninterest
expense
|
$1,747,968
|
|
$1,695,759
|
|
3
|
|
$
605,510
|
|
$579,545
|
|
$562,913
|
|
$
615,828
|
|
$
573,962
|
BBVA COMPASS
BANCSHARES, INC.
|
(Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
Nine Months Ended
September 30,
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
NON-GAAP
RECONCILIATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Computation of
Operating Income:
|
|
|
|
|
|
|
|
Net interest income
(GAAP)
|
$
658,286
|
|
$
589,361
|
|
$
1,924,390
|
|
$
1,726,622
|
Plus: noninterest
income (GAAP)
|
258,459
|
|
257,794
|
|
786,303
|
|
748,806
|
Less: noninterest
expense (GAAP)
|
605,510
|
|
573,962
|
|
1,747,968
|
|
1,695,759
|
Operating income
(non-GAAP)
|
$
311,235
|
|
$
273,193
|
|
$
962,725
|
|
$
779,669
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Computation of
Average Tangible Equity:
|
|
|
|
|
|
|
|
Total stockholder's
equity (average) (GAAP)
|
$
13,334,169
|
|
$
13,130,915
|
|
$
13,215,032
|
|
$
12,997,116
|
Less: Goodwill and
other intangibles (average) (GAAP)
|
5,040,018
|
|
5,041,385
|
|
5,040,016
|
|
5,045,419
|
Average tangible
equity (non-GAAP) [B]
|
$
8,294,151
|
|
$
8,089,530
|
|
$
8,175,016
|
|
$
7,951,697
|
Net income (GAAP)
[A]
|
$
174,515
|
|
$
130,451
|
|
$
567,603
|
|
$
408,714
|
Return on average
tangible equity (non-GAAP) ([A]/[B], annualized)
|
8.35 %
|
|
6.40 %
|
|
9.28 %
|
|
6.87 %
|
BBVA COMPASS
BANCSHARES, INC.
|
SUPPLEMENTAL LOAN
PORTFOLIO INFORMATION (Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter
Ended September 30, 2018
|
|
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
|
$
38,512
|
|
$
16,416
|
|
$
9,609
|
|
$
290,239
|
|
$
522
|
|
$
26,300,781
|
|
$
26,656,079
|
|
$
13,975
|
Real estate –
construction
|
3,252
|
|
5,278
|
|
532
|
|
12,882
|
|
121
|
|
2,096,427
|
|
2,118,492
|
|
(23)
|
Commercial real
estate – mortgage
|
31,792
|
|
18,349
|
|
502
|
|
104,976
|
|
3,753
|
|
12,237,632
|
|
12,397,004
|
|
2,035
|
Residential real
estate – mortgage
|
87,426
|
|
30,373
|
|
3,697
|
|
159,721
|
|
59,082
|
|
13,062,173
|
|
13,402,472
|
|
2,090
|
Equity lines of
credit
|
13,556
|
|
4,298
|
|
1,186
|
|
35,125
|
|
—
|
|
2,655,566
|
|
2,709,731
|
|
(19)
|
Equity
loans
|
2,082
|
|
1,042
|
|
241
|
|
10,378
|
|
28,383
|
|
266,712
|
|
308,838
|
|
45
|
Credit
card
|
8,601
|
|
6,449
|
|
13,157
|
|
—
|
|
—
|
|
735,479
|
|
763,686
|
|
9,686
|
Consumer –
direct
|
30,153
|
|
14,455
|
|
8,988
|
|
3,184
|
|
1,189
|
|
2,364,239
|
|
2,422,208
|
|
28,765
|
Consumer –
indirect
|
86,310
|
|
23,587
|
|
6,853
|
|
11,654
|
|
—
|
|
3,550,365
|
|
3,678,769
|
|
23,017
|
Covered
loans
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
Total
loans
|
$
301,684
|
|
$
120,247
|
|
$
44,765
|
|
$
628,159
|
|
$
93,050
|
|
$
63,269,374
|
|
$
64,457,279
|
|
$
79,571
|
Loans held for
sale
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
73,569
|
|
$
73,569
|
|
$
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter
Ended June 30, 2018
|
|
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
|
$
55,116
|
|
$
12,405
|
|
$
3,597
|
|
$
323,287
|
|
$
5,722
|
|
$
26,248,260
|
|
$
26,648,387
|
|
$
10,567
|
Real estate –
construction
|
579
|
|
163
|
|
540
|
|
13,289
|
|
125
|
|
2,115,565
|
|
2,130,261
|
|
287
|
Commercial real
estate – mortgage
|
20,450
|
|
2,826
|
|
3,211
|
|
105,409
|
|
3,945
|
|
11,659,635
|
|
11,795,476
|
|
(5,505)
|
Residential real
estate – mortgage
|
76,693
|
|
27,972
|
|
5,026
|
|
162,892
|
|
59,940
|
|
13,017,967
|
|
13,350,490
|
|
1,558
|
Equity lines of
credit
|
10,661
|
|
4,384
|
|
2,191
|
|
34,269
|
|
237
|
|
2,627,974
|
|
2,679,716
|
|
453
|
Equity
loans
|
3,519
|
|
882
|
|
306
|
|
10,153
|
|
29,303
|
|
281,302
|
|
325,465
|
|
(443)
|
Credit
card
|
6,353
|
|
4,733
|
|
11,931
|
|
—
|
|
—
|
|
681,617
|
|
704,634
|
|
11,299
|
Consumer –
direct
|
24,060
|
|
9,577
|
|
6,313
|
|
1,073
|
|
470
|
|
2,098,439
|
|
2,139,932
|
|
29,876
|
Consumer –
indirect
|
79,600
|
|
22,616
|
|
6,028
|
|
12,619
|
|
—
|
|
3,395,753
|
|
3,516,616
|
|
15,259
|
Covered
loans
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
Total
loans
|
$
277,031
|
|
$
85,558
|
|
$
39,143
|
|
$
662,991
|
|
$
99,742
|
|
$
62,126,512
|
|
$
63,290,977
|
|
$
63,351
|
Loans held for
sale
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
52,041
|
|
$
52,041
|
|
$
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BBVA COMPASS
BANCSHARES, INC.
|
SUPPLEMENTAL LOAN
PORTFOLIO INFORMATION (Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
At or Quarter
Ended March 31, 2018
|
|
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
|
$
15,427
|
|
$
12,230
|
|
$
5,420
|
|
$
284,699
|
|
$
5,231
|
|
$
26,036,120
|
|
$
26,359,127
|
|
$
8,395
|
Real estate –
construction
|
450
|
|
240
|
|
1,918
|
|
14,183
|
|
129
|
|
2,139,936
|
|
2,156,856
|
|
(89)
|
Commercial real
estate – mortgage
|
8,552
|
|
3,220
|
|
2,229
|
|
115,285
|
|
4,182
|
|
11,394,819
|
|
11,528,287
|
|
114
|
Residential real
estate – mortgage
|
73,335
|
|
33,993
|
|
5,975
|
|
169,778
|
|
62,171
|
|
12,961,735
|
|
13,306,987
|
|
1,380
|
Equity lines of
credit
|
12,063
|
|
4,611
|
|
2,371
|
|
36,350
|
|
236
|
|
2,602,229
|
|
2,657,860
|
|
160
|
Equity
loans
|
4,495
|
|
983
|
|
379
|
|
11,429
|
|
29,546
|
|
297,705
|
|
344,537
|
|
(69)
|
Credit
card
|
6,438
|
|
5,089
|
|
11,845
|
|
—
|
|
—
|
|
633,658
|
|
657,030
|
|
9,874
|
Consumer –
direct
|
16,919
|
|
8,569
|
|
7,929
|
|
4,211
|
|
490
|
|
1,818,325
|
|
1,856,443
|
|
25,412
|
Consumer –
indirect
|
77,153
|
|
21,092
|
|
7,838
|
|
11,275
|
|
—
|
|
3,223,376
|
|
3,340,734
|
|
22,541
|
Covered
loans
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
Total
loans
|
$
214,832
|
|
$
90,027
|
|
$
45,904
|
|
$
647,210
|
|
$
101,985
|
|
$
61,107,903
|
|
$
62,207,861
|
|
$
67,718
|
Loans held for
sale
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
76,401
|
|
$
76,401
|
|
$
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter
Ended December 31, 2017
|
|
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
|
$
14,804
|
|
$
3,753
|
|
$
18,136
|
|
$
310,059
|
|
$
1,213
|
|
$
25,401,984
|
|
$
25,749,949
|
|
$
13,320
|
Real estate –
construction
|
12,293
|
|
70
|
|
1,560
|
|
5,381
|
|
101
|
|
2,254,134
|
|
2,273,539
|
|
(115)
|
Commercial real
estate – mortgage
|
10,473
|
|
3,270
|
|
927
|
|
111,982
|
|
4,155
|
|
11,593,351
|
|
11,724,158
|
|
417
|
Residential real
estate – mortgage
|
69,474
|
|
34,440
|
|
8,572
|
|
173,843
|
|
64,898
|
|
13,014,520
|
|
13,365,747
|
|
290
|
Equity lines of
credit
|
10,956
|
|
7,556
|
|
2,259
|
|
34,021
|
|
237
|
|
2,598,076
|
|
2,653,105
|
|
871
|
Equity
loans
|
4,170
|
|
657
|
|
995
|
|
11,559
|
|
30,105
|
|
315,778
|
|
363,264
|
|
87
|
Credit
card
|
6,710
|
|
4,804
|
|
11,929
|
|
—
|
|
—
|
|
616,074
|
|
639,517
|
|
9,048
|
Consumer –
direct
|
19,766
|
|
7,020
|
|
6,712
|
|
2,425
|
|
534
|
|
1,653,926
|
|
1,690,383
|
|
19,551
|
Consumer –
indirect
|
92,017
|
|
26,460
|
|
7,288
|
|
9,595
|
|
—
|
|
3,028,746
|
|
3,164,106
|
|
21,725
|
Covered
loans
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
Total
loans
|
$
240,663
|
|
$
88,030
|
|
$
58,378
|
|
$
658,865
|
|
$
101,243
|
|
$
60,476,589
|
|
$
61,623,768
|
|
$
65,194
|
Loans held for
sale
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
67,110
|
|
$
67,110
|
|
$
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BBVA COMPASS
BANCSHARES, INC.
|
SUPPLEMENTAL LOAN
PORTFOLIO INFORMATION (Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter
Ended September 30, 2017
|
|
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
|
$
51,581
|
|
$
6,351
|
|
$
6,072
|
|
$
324,071
|
|
$
1,259
|
|
$
24,702,608
|
|
$
25,091,942
|
|
$
14,695
|
Real estate –
construction
|
661
|
|
94
|
|
2,955
|
|
1,877
|
|
106
|
|
2,241,451
|
|
2,247,144
|
|
(29)
|
Commercial real
estate – mortgage
|
21,324
|
|
1,089
|
|
3,686
|
|
108,040
|
|
4,645
|
|
11,203,594
|
|
11,342,378
|
|
7,707
|
Residential real
estate – mortgage
|
57,582
|
|
32,606
|
|
2,558
|
|
175,490
|
|
59,086
|
|
13,071,181
|
|
13,398,503
|
|
1,717
|
Equity lines of
credit
|
11,118
|
|
4,824
|
|
2,179
|
|
34,416
|
|
237
|
|
2,564,538
|
|
2,617,312
|
|
179
|
Equity
loans
|
3,470
|
|
1,798
|
|
840
|
|
11,305
|
|
30,574
|
|
335,389
|
|
383,376
|
|
(7)
|
Credit
card
|
6,832
|
|
4,777
|
|
10,692
|
|
—
|
|
—
|
|
568,674
|
|
590,975
|
|
10,591
|
Consumer –
direct
|
17,563
|
|
6,796
|
|
5,209
|
|
2,746
|
|
577
|
|
1,571,505
|
|
1,604,396
|
|
18,281
|
Consumer –
indirect
|
81,534
|
|
23,070
|
|
8,858
|
|
8,867
|
|
—
|
|
2,916,849
|
|
3,039,178
|
|
18,133
|
Covered
loans
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
Total
loans
|
$
251,665
|
|
$
81,405
|
|
$
43,049
|
|
$
666,812
|
|
$
96,484
|
|
$
59,175,789
|
|
$
60,315,204
|
|
$
71,267
|
Loans held for
sale
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
—
|
|
$
77,783
|
|
$
77,783
|
|
$
—
|
BBVA COMPASS
BANCSHARES, INC.
|
BALANCE SHEET
(Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
2017
|
|
September
30
|
|
June
30
|
|
March
31
|
|
December
31
|
|
September
30
|
Assets:
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
$
1,122,747
|
|
$
1,138,034
|
|
$
1,098,345
|
|
$
1,313,022
|
|
$
1,145,745
|
Federal funds sold,
securities purchased under agreements to resell and interest
bearing deposits
|
2,404,164
|
|
2,438,585
|
|
2,424,987
|
|
2,769,804
|
|
2,588,913
|
Cash and cash
equivalents
|
3,526,911
|
|
3,576,619
|
|
3,523,332
|
|
4,082,826
|
|
3,734,658
|
Trading account
assets
|
216,749
|
|
277,694
|
|
216,465
|
|
220,496
|
|
572,104
|
Debt securities
available for sale
|
11,134,860
|
|
11,293,724
|
|
11,434,152
|
|
12,219,632
|
|
11,820,442
|
Debt securities held
to maturity
|
2,490,568
|
|
2,198,186
|
|
1,975,729
|
|
1,046,093
|
|
1,077,372
|
Loans held for
sale
|
73,569
|
|
52,041
|
|
76,401
|
|
67,110
|
|
77,783
|
Loans
|
64,457,279
|
|
63,290,977
|
|
62,207,861
|
|
61,623,768
|
|
60,315,204
|
Allowance for loan
losses
|
(875,393)
|
|
(860,000)
|
|
(832,071)
|
|
(842,760)
|
|
(849,119)
|
Net loans
|
63,581,886
|
|
62,430,977
|
|
61,375,790
|
|
60,781,008
|
|
59,466,085
|
Premises and
equipment, net
|
1,155,795
|
|
1,170,798
|
|
1,189,253
|
|
1,214,874
|
|
1,226,747
|
Bank owned life
insurance
|
731,527
|
|
728,703
|
|
724,600
|
|
722,596
|
|
720,693
|
Goodwill
|
4,983,296
|
|
4,983,296
|
|
4,983,296
|
|
4,983,296
|
|
4,983,296
|
Other
assets
|
2,152,495
|
|
2,042,624
|
|
2,109,484
|
|
1,982,648
|
|
2,004,480
|
Total
assets
|
$
90,047,656
|
|
$
88,754,662
|
|
$
87,608,502
|
|
$
87,320,579
|
|
$
85,683,660
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
Noninterest
bearing
|
$
20,968,391
|
|
$
21,433,218
|
|
$
21,792,498
|
|
$
21,630,694
|
|
$
21,094,235
|
Interest
bearing
|
49,409,666
|
|
48,714,490
|
|
48,147,914
|
|
47,625,619
|
|
46,119,332
|
Total
deposits
|
70,378,057
|
|
70,147,708
|
|
69,940,412
|
|
69,256,313
|
|
67,213,567
|
FHLB and other
borrowings
|
5,045,302
|
|
4,157,284
|
|
3,322,940
|
|
3,959,930
|
|
3,956,041
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
78,004
|
|
185,511
|
|
5,933
|
|
19,591
|
|
44,761
|
Other short-term
borrowings
|
68,714
|
|
81,547
|
|
29,999
|
|
17,996
|
|
327,539
|
Accrued expenses and
other liabilities
|
1,135,092
|
|
991,968
|
|
1,165,079
|
|
1,053,439
|
|
1,025,849
|
Total
liabilities
|
76,705,169
|
|
75,564,018
|
|
74,464,363
|
|
74,307,269
|
|
72,567,757
|
Shareholder's
Equity:
|
|
|
|
|
|
|
|
|
|
Preferred
stock
|
229,475
|
|
229,475
|
|
229,475
|
|
229,475
|
|
229,475
|
Common stock — $0.01
par value
|
2,230
|
|
2,230
|
|
2,230
|
|
2,230
|
|
2,230
|
Surplus
|
14,695,197
|
|
14,699,773
|
|
14,814,744
|
|
14,818,608
|
|
14,912,412
|
Retained
deficit
|
(1,302,525)
|
|
(1,476,614)
|
|
(1,660,417)
|
|
(1,868,659)
|
|
(1,920,184)
|
Accumulated other
comprehensive loss
|
(311,422)
|
|
(293,323)
|
|
(271,431)
|
|
(197,405)
|
|
(137,583)
|
Total BBVA Compass
Bancshares, Inc. shareholder's equity
|
13,312,955
|
|
13,161,541
|
|
13,114,601
|
|
12,984,249
|
|
13,086,350
|
Noncontrolling
interests
|
29,532
|
|
29,103
|
|
29,538
|
|
29,061
|
|
29,553
|
Total
shareholder's equity
|
13,342,487
|
|
13,190,644
|
|
13,144,139
|
|
13,013,310
|
|
13,115,903
|
Total liabilities
and shareholder's equity
|
$
90,047,656
|
|
$
88,754,662
|
|
$
87,608,502
|
|
$
87,320,579
|
|
$
85,683,660
|
BBVA COMPASS
BANCSHARES, INC.
|
INCOME STATEMENT
(Unaudited)
|
(Dollars in
Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
2018
|
|
2017
|
|
September
30
|
|
June
30
|
|
March
31
|
|
December
31
|
|
September
30
|
Interest
income:
|
|
|
|
|
|
|
|
|
|
Interest and fees on
loans
|
$
751,470
|
|
$
711,006
|
|
$
663,935
|
|
$
641,322
|
|
$
623,884
|
Interest on debt
securities available for sale
|
53,201
|
|
53,792
|
|
56,602
|
|
56,883
|
|
50,599
|
Interest on debt
securities held to maturity
|
16,110
|
|
13,062
|
|
12,426
|
|
6,555
|
|
6,994
|
Interest on trading
account assets
|
833
|
|
924
|
|
750
|
|
1,005
|
|
6,247
|
Interest on other
earning assets
|
17,449
|
|
14,916
|
|
11,875
|
|
10,843
|
|
14,888
|
Total interest
income
|
839,063
|
|
793,700
|
|
745,588
|
|
716,608
|
|
702,612
|
Interest
expense:
|
|
|
|
|
|
|
|
|
|
Interest on
deposits
|
139,898
|
|
116,323
|
|
97,347
|
|
88,016
|
|
75,083
|
Interest on FHLB and
other borrowings
|
37,131
|
|
31,912
|
|
24,756
|
|
22,392
|
|
29,904
|
Interest on federal
funds purchased and securities sold under agreements to
repurchase
|
3,169
|
|
1,399
|
|
536
|
|
464
|
|
4,623
|
Interest on other
short-term borrowings
|
579
|
|
567
|
|
344
|
|
2,191
|
|
3,641
|
Total interest
expense
|
180,777
|
|
150,201
|
|
122,983
|
|
113,063
|
|
113,251
|
Net interest
income
|
658,286
|
|
643,499
|
|
622,605
|
|
603,545
|
|
589,361
|
Provision for loan
losses
|
94,964
|
|
91,280
|
|
57,029
|
|
58,835
|
|
103,434
|
Net interest
income after provision for loan losses
|
563,322
|
|
552,219
|
|
565,576
|
|
544,710
|
|
485,927
|
Noninterest
income:
|
|
|
|
|
|
|
|
|
|
Service charges on
deposit accounts
|
60,325
|
|
58,581
|
|
56,161
|
|
56,070
|
|
55,953
|
Card and merchant
processing fees
|
44,219
|
|
44,048
|
|
39,678
|
|
33,380
|
|
32,297
|
Retail investment
sales
|
28,286
|
|
29,782
|
|
30,108
|
|
26,338
|
|
26,817
|
Investment banking
and advisory fees
|
13,956
|
|
24,546
|
|
23,896
|
|
24,957
|
|
30,500
|
Money transfer
income
|
23,441
|
|
23,920
|
|
20,688
|
|
24,101
|
|
24,881
|
Asset management
fees
|
11,143
|
|
10,989
|
|
10,770
|
|
10,303
|
|
10,336
|
Corporate and
correspondent investment sales
|
12,490
|
|
16,355
|
|
12,056
|
|
11,803
|
|
5,145
|
Mortgage
banking
|
6,717
|
|
7,964
|
|
8,397
|
|
4,720
|
|
3,450
|
Bank owned life
insurance
|
4,597
|
|
4,375
|
|
4,215
|
|
4,397
|
|
4,322
|
Investment securities
gains, net
|
—
|
|
—
|
|
—
|
|
—
|
|
3,033
|
Other
|
53,285
|
|
49,459
|
|
51,856
|
|
101,100
|
|
61,060
|
Total noninterest
income
|
258,459
|
|
270,019
|
|
257,825
|
|
297,169
|
|
257,794
|
Noninterest
expense:
|
|
|
|
|
|
|
|
|
|
Salaries, benefits
and commissions
|
292,679
|
|
286,852
|
|
289,440
|
|
296,146
|
|
279,384
|
Equipment
|
63,739
|
|
63,660
|
|
63,360
|
|
63,200
|
|
60,656
|
Professional
services
|
68,403
|
|
68,577
|
|
60,645
|
|
76,068
|
|
64,775
|
Net
occupancy
|
42,514
|
|
42,671
|
|
40,422
|
|
41,125
|
|
42,227
|
Money transfer
expense
|
16,120
|
|
16,302
|
|
13,721
|
|
15,721
|
|
15,938
|
Marketing
|
12,381
|
|
11,814
|
|
8,787
|
|
7,950
|
|
14,996
|
Communications
|
10,827
|
|
5,251
|
|
5,263
|
|
4,970
|
|
5,084
|
Other
|
98,847
|
|
84,418
|
|
81,275
|
|
110,648
|
|
90,902
|
Total noninterest
expense
|
605,510
|
|
579,545
|
|
562,913
|
|
615,828
|
|
573,962
|
Net income before
income tax expense
|
216,271
|
|
242,693
|
|
260,488
|
|
226,051
|
|
169,759
|
Income tax
expense
|
41,756
|
|
58,295
|
|
51,798
|
|
173,979
|
|
39,308
|
Net
income
|
174,515
|
|
184,398
|
|
208,690
|
|
52,072
|
|
130,451
|
Less: net income
attributable to noncontrolling interests
|
426
|
|
595
|
|
461
|
|
547
|
|
584
|
Net income
attributable to BBVA Compass Bancshares, Inc.
|
$
174,089
|
|
$
183,803
|
|
$
208,229
|
|
$
51,525
|
|
$
129,867
|
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SOURCE BBVA Compass