HOUSTON, July 27, 2017 /PRNewswire/ --
- Net income reaches quarterly record of $157 million
-
- Net income up 29 percent from a year ago and 30 percent compared to 1Q17 levels
- Return on average assets and return on average tangible equity1 for the quarter were 0.72 percent and 7.93
percent, respectively
- Total revenue increases 9 percent from prior year levels and 18 percent (annualized) from 1Q17 levels
-
- Net interest income (NII) increases $82 million or 16 percent from a year ago
- NII linked quarter growth more pronounced at 25 percent (annualized)
- Net interest margin (FTE) increases 56 basis points from prior year and 15 basis points from first quarter 2017
levels
- Targeted balance sheet growth and continued focus on spread management
-
- Average total loans of $59.9 billion down 4 percent from prior year
-
- Newly funded customer loans of $7.5 billion in the first half of 2017
- Average total deposits of $65.7 billion down 4 percent from prior year
-
- Average noninterest bearing deposits up 3 percent
- Noninterest bearing deposits represent 32 percent of total deposits
- Credit quality metrics show continued improvement, led by energy portfolio
-
- Nonperforming loan ratio at 1.37 percent, down 26 basis points from 4Q16
- Allowance to loan ratio at 1.36 percent and coverage ratio at 100 percent
- Results of CCAR and DFAST provide further evidence of strong capital position
-
- Common Equity Tier 1 (CET1) capital ratio (phased-in)2 increases to 11.89 percent
- Regulatory capital ratios2 significantly above "well-capitalized" guidelines
BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today record net income of
$157 million for the second quarter of 2017, a 29 percent increase from the $123 million earned during the second quarter of 2016 and a 30 percent increase from the $121 million earned during the first quarter of 2017. Return on average assets and return on average tangible
equity1 for the second quarter of 2017 were 0.72 percent and 7.93 percent, respectively.
Net income for the first six months of 2017 totaled $278 million, an increase of 72 percent from
the $162 million earned during the first six months of 2016. Return on average assets and return on
average tangible equity1 for the first six months of 2017 were 0.64 percent and 7.12 percent, respectively.
"Our strong second quarter results attest to the collective strength of our teammates, and also reflect our unparalleled
passion for the best customer service," said Onur Genç, president and CEO of BBVA Compass. "As we move forward, we'll continue to
build on the key components of our financial success, some of which include targeted balance sheet growth that optimizes capital,
effective spread management, deposit cost control and continued improvement in credit quality metrics."
Total revenue for the quarter was $832 million, an increase of 9 percent from second quarter
2016 levels that was driven by an increase in net interest income. Net interest income totaled $585
million, an increase of $82 million or 16 percent from the second quarter of 2016 and an
increase of $34 million or 25 percent (annualized) on a linked-quarter basis with first quarter
2017. The percent net interest margin in the second quarter was 3.11 percent, up 56 basis points from the quarter a year ago and
15 basis points on a linked-quarter basis.
"The increase in net interest income certainly reflects the benefit of higher short-term interest rates and the interest rate
sensitivity position of our balance sheet, which positively impacted earning asset yields, particularly loan yields," Genç noted.
"At the same time, it also reflects our continued efforts focused on prudently managing spreads and maintaining a disciplined
deposit pricing strategy."
Noninterest income for the quarter totaled $246 million, a decrease of 4 percent compared to the
$257 million recorded for the second quarter of 2016 as positive gains in each of our major
fee-based businesses were offset by a decline in investment banking and advisory fees and other income associated with this area.
On a linked quarter basis, noninterest income increased 3 percent annualized as the increase in fee-based businesses,
particularly card and merchant processing, money transfer income and corporate and correspondent investment sales, more than
offset the decline in investment banking and advisory fees. Noninterest expense totaled $572
million, an increase of 6 percent compared to the year ago quarter. On a year-to-date basis, total noninterest expense
declined 1 percent compared to the same period a year ago.
With respect to the balance sheet, average total loans for the second quarter of 2017 were $59.9
billion, a decrease of 4 percent from $62.4 billion for the second quarter of 2016. This
decrease further reflects the company's focus on targeted loan growth aimed at enhancing long-term profitability while also
efficiently optimizing capital consumption. During the first half of 2017, approximately $7.5
billion of customer loans were funded, including $4.0 billion during the second quarter.
Average total deposits for the quarter decreased 4 percent to $65.7 billion, primarily as a result
of a decrease in higher rate deposits. Conversely, average noninterest bearing demand deposits increased 3 percent and now
represents 32 percent of total deposits.
Credit quality metrics showed continued improvement, following the trend of the past several quarters. Nonperforming loans
totaled $821 million at the end of the quarter, a decrease of $72
million compared to first quarter 2017 and $162 million since the end of the fourth quarter
of 2016. Nonperforming loans as a percentage of total loans were 1.37 percent, down from 1.49 percent at the end of the first
quarter of 2017 and 1.63 percent at year-end 2016. The decrease continues to reflect improvement in the company's primarily
reserved-based energy portfolio that represents 4.9 percent of total loans compared to 6 percent a year ago. Net charge-offs as a
percentage of average loans totaled 42 basis points in the quarter, down from 57 basis points in the first quarter of 2017 and 43
basis points in the second quarter of 2016. The allowance for loan losses as a percentage of total loans ended the quarter at
1.36 percent while the coverage ratio of nonperforming loans stood at 100 percent.
Total shareholder's equity at the end of the second quarter totaled $13.0 billion, a 2 percent
increase from $12.7 billion at the end of the second quarter of 2016. The CET1 ratio rose to 11.89
percent2 at the end of the second quarter of 2017, up 40 basis points from the end of the fourth quarter of 2016 and
110 basis points from the end of the second quarter of 2016. Each of the company's other regulatory capital ratios remain
significantly above "well-capitalized" guidelines at the end of the quarter.
"BBVA Compass has been part of the Comprehensive Capital Analysis and Review for four years, and in each, our capital plan has
received no-objection from the Federal Reserve," Genç said. "Our strong capital position will support us as we continue to
transform digitally to get ready for the challenges and opportunities of 21st century banking."
__________________________
1 Average tangible equity is a non-GAAP financial measure that we believe aids in understanding certain areas of our
performance. The calculation of this measure is included on the page titled Non-GAAP Reconciliation.
2 Regulatory ratios at June 30, 2017, are estimated.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 651 branches, including 337 in Texas, 89 in Alabama, 63 in Arizona, 61 in
California, 45 in Florida, 38 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 (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 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 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 .
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.
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
%
|
|
Six Months Ended June 30,
|
|
%
|
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
|
|
|
|
|
|
|
EARNINGS SUMMARY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
$ 585,828
|
|
$ 504,238
|
|
16
|
|
$ 1,137,261
|
|
$ 1,021,120
|
|
11
|
|
|
|
|
|
|
|
Noninterest income [a]
|
|
246,325
|
|
256,562
|
|
(4)
|
|
491,012
|
|
501,414
|
|
(2)
|
|
|
|
|
|
|
|
Total revenue [a]
|
|
832,153
|
|
760,800
|
|
9
|
|
1,628,273
|
|
1,522,534
|
|
7
|
|
|
|
|
|
|
|
Investment securities gain, net
|
|
—
|
|
21,684
|
|
(100)
|
|
—
|
|
30,037
|
|
(100)
|
|
|
|
|
|
|
|
Provision for loan losses
|
|
45,285
|
|
86,673
|
|
(48)
|
|
125,424
|
|
199,918
|
|
(37)
|
|
|
|
|
|
|
|
Noninterest expense
|
|
572,485
|
|
541,037
|
|
6
|
|
1,121,797
|
|
1,133,181
|
|
(1)
|
|
|
|
|
|
|
|
Pretax income
|
|
214,383
|
|
154,774
|
|
39
|
|
381,052
|
|
219,472
|
|
74
|
|
|
|
|
|
|
|
Income tax expense
|
|
56,943
|
|
32,272
|
|
76
|
|
102,789
|
|
57,703
|
|
78
|
|
|
|
|
|
|
|
Net income
|
|
157,440
|
|
122,502
|
|
29
|
|
278,263
|
|
161,769
|
|
72
|
|
|
|
|
|
|
|
Net income attributable to noncontrolling interests
|
|
431
|
|
518
|
|
(17)
|
|
874
|
|
1,046
|
|
(16)
|
|
|
|
|
|
|
|
Net income attributable to BBVA Compass Bancshares, Inc.
|
|
$ 157,009
|
|
$ 121,984
|
|
29
|
|
$ 277,389
|
|
$ 160,723
|
|
73
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets
|
|
0.72 %
|
|
0.53 %
|
|
|
|
0.64 %
|
|
0.35 %
|
|
|
|
|
|
|
|
|
|
Return on average tangible equity [b]
|
|
7.93
|
|
6.45
|
|
|
|
7.12
|
|
4.27
|
|
|
|
|
|
|
|
|
|
Average common equity to average assets
|
|
14.57
|
|
13.79
|
|
|
|
14.47
|
|
13.79
|
|
|
|
|
|
|
|
|
|
Average loans to average total deposits
|
|
91.16
|
|
91.11
|
|
|
|
90.45
|
|
91.63
|
|
|
|
|
|
|
|
|
|
Common equity tier I capital (CET1) [c]
|
|
11.89
|
|
10.79
|
|
|
|
11.89
|
|
10.79
|
|
|
|
|
|
|
|
|
|
Tier I capital ratio [c]
|
|
12.24
|
|
11.14
|
|
|
|
12.24
|
|
11.14
|
|
|
|
|
|
|
|
|
|
Total capital ratio [c]
|
|
14.61
|
|
13.66
|
|
|
|
14.61
|
|
13.66
|
|
|
|
|
|
|
|
|
|
Leverage ratio [c]
|
|
9.82
|
|
8.78
|
|
|
|
9.82
|
|
8.78
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average for Three Months
|
|
|
|
Average for Six Months
|
|
|
|
Ending Balance
|
|
|
|
|
Ended June 30,
|
|
%
|
|
Ended June 30,
|
|
%
|
|
June 30,
|
|
%
|
|
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
|
BALANCE SHEET HIGHLIGHTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans
|
|
$ 59,902,725
|
|
$ 62,355,245
|
|
(4)
|
|
$ 60,113,615
|
|
$ 62,275,604
|
|
(3)
|
|
$ 59,955,718
|
|
$ 61,788,375
|
|
(3)
|
|
Total investment securities
|
|
13,117,321
|
|
12,493,595
|
|
5
|
|
12,999,704
|
|
12,488,652
|
|
4
|
|
13,286,015
|
|
12,617,412
|
|
5
|
|
Earning assets
|
|
78,182,674
|
|
82,809,254
|
|
(6)
|
|
78,223,352
|
|
82,556,235
|
|
(5)
|
|
78,063,746
|
|
78,813,552
|
|
(1)
|
|
Total assets
|
|
87,474,348
|
|
92,440,585
|
|
(5)
|
|
87,575,056
|
|
92,372,846
|
|
(5)
|
|
87,003,919
|
|
91,753,156
|
|
(5)
|
|
Noninterest bearing demand deposits
|
|
21,110,531
|
|
20,521,323
|
|
3
|
|
20,845,583
|
|
20,289,233
|
|
3
|
|
21,000,630
|
|
20,132,164
|
|
4
|
|
Interest bearing transaction accounts
|
|
32,566,221
|
|
32,975,782
|
|
(1)
|
|
32,985,683
|
|
32,918,640
|
|
—
|
|
32,472,406
|
|
32,625,540
|
|
—
|
|
Total transaction accounts
|
|
53,676,752
|
|
53,497,105
|
|
—
|
|
53,831,266
|
|
53,207,873
|
|
1
|
|
53,473,036
|
|
52,757,704
|
|
1
|
|
Total deposits
|
|
65,711,133
|
|
68,441,915
|
|
(4)
|
|
66,459,835
|
|
67,960,764
|
|
(2)
|
|
65,617,380
|
|
67,750,318
|
|
(3)
|
|
Total shareholder's equity
|
|
13,004,717
|
|
12,751,155
|
|
2
|
|
12,929,108
|
|
12,739,562
|
|
1
|
|
12,989,630
|
|
12,726,996
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[a] Excludes net gain on sales of investment securities.
|
|
[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.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
|
June 30
|
|
March 31
|
|
December 31
|
|
September 30
|
|
June 30
|
|
NONPERFORMING ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans [a]
|
|
$ 760,313
|
|
$ 825,988
|
|
$ 921,042
|
|
$ 1,086,018
|
|
$ 1,026,592
|
|
Loans 90 days or more past due [b]
|
|
59,434
|
|
65,617
|
|
61,542
|
|
65,525
|
|
60,320
|
|
TDRs 90 days or more past due
|
|
969
|
|
1,185
|
|
589
|
|
618
|
|
998
|
|
Total nonperforming loans [a]
|
|
820,716
|
|
892,790
|
|
983,173
|
|
1,152,161
|
|
1,087,910
|
|
Other real estate owned, net (OREO)
|
|
22,965
|
|
25,113
|
|
21,112
|
|
21,670
|
|
18,225
|
|
Other repossessed assets
|
|
12,298
|
|
9,540
|
|
7,587
|
|
6,900
|
|
9,380
|
|
Total nonperforming assets
|
|
$ 855,979
|
|
$ 927,443
|
|
$ 1,011,872
|
|
$ 1,180,731
|
|
$ 1,115,515
|
|
|
|
|
|
|
|
|
|
|
|
|
TDRs accruing and past due less than 90 days
|
|
$ 97,088
|
|
$ 128,558
|
|
$ 110,733
|
|
$ 116,941
|
|
$ 118,222
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nonperforming loans as a % of loans
|
|
1.37 %
|
|
1.49 %
|
|
1.63 %
|
|
1.91 %
|
|
1.76 %
|
|
Total nonperforming assets as a % of total loans, other real estate, and
other repossessed assets
|
|
1.43
|
|
1.55
|
|
1.68
|
|
1.96
|
|
1.80
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
2017
|
|
2016
|
|
|
June 30
|
|
March 31
|
|
December 31
|
|
September 30
|
|
June 30
|
|
ALLOWANCE FOR LOAN LOSSES
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$ 834,106
|
|
$ 838,293
|
|
$ 862,080
|
|
$ 843,051
|
|
$ 822,440
|
|
Net charge-offs (NCO)
|
|
62,439
|
|
84,326
|
|
61,351
|
|
46,078
|
|
66,062
|
|
Provision for loan losses
|
|
45,285
|
|
80,139
|
|
37,564
|
|
65,107
|
|
86,673
|
|
Balance at end of period
|
|
$ 816,952
|
|
$ 834,106
|
|
$ 838,293
|
|
$ 862,080
|
|
$ 843,051
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses as a % of total loans
|
|
1.36 %
|
|
1.40 %
|
|
1.40 %
|
|
1.43 %
|
|
1.37 %
|
|
Allowance for loan losses as a % of nonperforming loans [c]
|
|
99.54
|
|
93.43
|
|
85.26
|
|
74.82
|
|
77.49
|
|
Allowance for loan losses as a % of nonperforming assets [c]
|
|
95.44
|
|
89.94
|
|
82.85
|
|
73.01
|
|
75.58
|
|
|
|
|
|
|
|
|
|
|
|
|
Annualized as a % of average loans:
|
|
|
|
|
|
|
|
|
|
|
|
NCO - QTD
|
|
0.42
|
|
0.57
|
|
0.40
|
|
0.30
|
|
0.43
|
|
NCO - YTD
|
|
0.49
|
|
0.57
|
|
0.37
|
|
0.36
|
|
0.39
|
|
|
|
|
|
|
|
|
|
|
|
|
[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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
December 31, 2016
|
|
June 30, 2016
|
|
|
Recorded
Investment
|
|
Total
Commitment
|
|
Nonaccrual
|
|
Recorded
Investment
|
|
Total
Commitment
|
|
Nonaccrual
|
|
Recorded
Investment
|
|
Total
Commitment
|
|
Nonaccrual
|
|
ENERGY PORTFOLIO
|
|
|
Exploration and production
|
|
$ 1,599,999
|
|
$ 4,102,412
|
|
$ 218,697
|
|
$ 1,654,565
|
|
$ 4,182,861
|
|
$ 308,096
|
|
$ 1,935,062
|
|
$ 4,456,062
|
|
$ 620,612
|
|
Midstream
|
|
1,010,761
|
|
3,089,979
|
|
—
|
|
1,199,844
|
|
3,230,513
|
|
11,298
|
|
1,395,584
|
|
3,315,382
|
|
21,268
|
|
Drilling oil and support services
|
|
173,408
|
|
399,106
|
|
2,372
|
|
263,770
|
|
467,908
|
|
66,811
|
|
270,420
|
|
495,563
|
|
—
|
|
Refineries and terminals
|
|
144,954
|
|
255,894
|
|
250
|
|
128,010
|
|
262,618
|
|
339
|
|
131,626
|
|
201,399
|
|
430
|
|
Total energy portfolio
|
|
$ 2,929,122
|
|
$ 7,847,391
|
|
$ 221,319
|
|
$ 3,246,189
|
|
$ 8,143,900
|
|
$ 386,544
|
|
$ 3,732,692
|
|
$ 8,468,406
|
|
$ 642,310
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
|
|
December 31, 2016
|
|
|
|
June 30, 2016
|
|
|
|
|
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
|
|
54.6 %
|
|
2.7 %
|
|
|
|
51.0 %
|
|
2.7 %
|
|
|
|
51.8 %
|
|
3.1 %
|
|
|
|
Midstream
|
|
34.5
|
|
1.7
|
|
|
|
37.0
|
|
2.0
|
|
|
|
37.4
|
|
2.3
|
|
|
|
Drilling oil and support services
|
|
5.9
|
|
0.3
|
|
|
|
8.1
|
|
0.4
|
|
|
|
7.3
|
|
0.4
|
|
|
|
Refineries and terminals
|
|
5.0
|
|
0.2
|
|
|
|
3.9
|
|
0.2
|
|
|
|
3.5
|
|
0.2
|
|
|
|
Total energy portfolio
|
|
100.0 %
|
|
4.9 %
|
|
|
|
100.0 %
|
|
5.4 %
|
|
|
|
100.0 %
|
|
6.0 %
|
|
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
2017
|
|
2016
|
|
|
Average Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
Average Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
YIELD/RATE ANALYSIS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Taxable Equivalent Basis)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
|
$ 59,902,725
|
|
$ 625,366
|
|
4.19 %
|
|
$ 62,355,245
|
|
$ 575,852
|
|
3.71 %
|
|
Investment securities available for sale [a]
|
|
12,072,464
|
|
55,612
|
|
1.85
|
|
11,208,678
|
|
36,519
|
|
1.31
|
|
Investment securities held to maturity
|
|
1,134,494
|
|
9,961
|
|
3.52
|
|
1,265,643
|
|
9,754
|
|
3.10
|
|
Other earning assets [b] [c]
|
|
5,162,628
|
|
21,856
|
|
1.70
|
|
7,960,414
|
|
17,758
|
|
0.90
|
|
Total earning assets
[a]
|
|
78,272,311
|
|
712,795
|
|
3.65
|
|
82,789,980
|
|
639,883
|
|
3.11
|
|
Allowance for loan losses
|
|
(836,477)
|
|
|
|
|
|
(837,147)
|
|
|
|
|
|
Unrealized gain (loss) on securities available for sale
|
|
(89,637)
|
|
|
|
|
|
19,274
|
|
|
|
|
|
Other assets
|
|
10,128,151
|
|
|
|
|
|
10,468,478
|
|
|
|
|
|
Total assets
|
|
$ 87,474,348
|
|
|
|
|
|
$ 92,440,585
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholder's Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing demand deposits
|
|
$ 7,849,285
|
|
$ 6,261
|
|
0.32
|
|
$ 6,826,950
|
|
$ 3,848
|
|
0.23
|
|
Savings and money market accounts
|
|
24,716,936
|
|
22,380
|
|
0.36
|
|
26,148,832
|
|
24,758
|
|
0.38
|
|
Certificates and other time deposits
|
|
12,034,381
|
|
37,273
|
|
1.24
|
|
14,852,744
|
|
48,280
|
|
1.31
|
|
Foreign office deposits
|
|
—
|
|
—
|
|
—
|
|
92,066
|
|
47
|
|
0.21
|
|
Total interest bearing deposits
|
|
44,600,602
|
|
65,914
|
|
0.59
|
|
47,920,592
|
|
76,933
|
|
0.65
|
|
FHLB and other borrowings
|
|
4,104,668
|
|
22,450
|
|
2.19
|
|
4,448,139
|
|
19,592
|
|
1.77
|
|
Federal funds purchased and securities sold under agreement to repurchase
[c]
|
|
99,039
|
|
6,942
|
|
28.11
|
|
680,325
|
|
5,434
|
|
3.21
|
|
Other short-term borrowings
|
|
2,638,671
|
|
10,506
|
|
1.60
|
|
3,975,490
|
|
13,932
|
|
1.41
|
|
Total interest bearing
liabilities
|
|
51,442,980
|
|
105,812
|
|
0.83
|
|
57,024,546
|
|
115,891
|
|
0.82
|
|
Noninterest bearing deposits
|
|
21,110,531
|
|
|
|
|
|
20,521,323
|
|
|
|
|
|
Other noninterest bearing liabilities
|
|
1,916,120
|
|
|
|
|
|
2,143,561
|
|
|
|
|
|
Total liabilities
|
|
74,469,631
|
|
|
|
|
|
79,689,430
|
|
|
|
|
|
Shareholder's equity
|
|
13,004,717
|
|
|
|
|
|
12,751,155
|
|
|
|
|
|
Total liabilities and shareholder's equity
|
|
$ 87,474,348
|
|
|
|
|
|
$ 92,440,585
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income/ net interest spread
|
|
|
|
606,983
|
|
2.82 %
|
|
|
|
523,992
|
|
2.29 %
|
|
Net yield on earning assets
|
|
|
|
|
|
3.11 %
|
|
|
|
|
|
2.55 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total taxable equivalent adjustment
|
|
|
|
21,155
|
|
|
|
|
|
19,754
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
|
|
$ 585,828
|
|
|
|
|
|
$ 504,238
|
|
|
|
|
[a] Excludes adjustment for market valuation.
|
|
|
[b] Beginning in the fourth quarter of 2016, interest bearing deposits with
the Federal Reserve are included in earning assets. Previous to this change, these balances were included with cash and
due from banks in the cash and cash equivalents line, consistent with the Condensed Consolidated Balance Sheet
presentation. Prior periods have been reclassified to conform to current period presentation.
|
|
|
[c] Yield/rate reflects impact of balance sheet offsetting.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
2017
|
|
2016
|
|
|
Average Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
Average Balance
|
|
Income/
Expense
|
|
Yield/
Rate
|
|
YIELD/RATE ANALYSIS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Taxable Equivalent Basis)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
|
$ 60,113,615
|
|
$ 1,217,070
|
|
4.08 %
|
|
$ 62,275,604
|
|
$ 1,153,074
|
|
3.72 %
|
|
Investment securities available for sale [a]
|
|
11,963,831
|
|
110,544
|
|
1.86
|
|
11,199,707
|
|
82,803
|
|
1.49
|
|
Investment securities held to maturity
|
|
1,151,552
|
|
19,532
|
|
3.42
|
|
1,279,209
|
|
19,592
|
|
3.08
|
|
Other earning assets [b] [c]
|
|
5,110,033
|
|
41,416
|
|
1.63
|
|
7,791,979
|
|
36,446
|
|
0.94
|
|
Total earning assets
[a]
|
|
78,339,031
|
|
1,388,562
|
|
3.57
|
|
82,546,499
|
|
1,291,915
|
|
3.15
|
|
Allowance for loan losses
|
|
(843,381)
|
|
|
|
|
|
(810,889)
|
|
|
|
|
|
Unrealized gain (loss) on securities available for sale
|
|
(115,679)
|
|
|
|
|
|
9,736
|
|
|
|
|
|
Other assets
|
|
10,195,085
|
|
|
|
|
|
10,627,500
|
|
|
|
|
|
Total assets
|
|
$ 87,575,056
|
|
|
|
|
|
$ 92,372,846
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholder's Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing demand deposits
|
|
$ 8,019,136
|
|
12,392
|
|
0.31
|
|
$ 6,956,442
|
|
7,790
|
|
0.23
|
|
Savings and money market accounts
|
|
24,966,547
|
|
44,681
|
|
0.36
|
|
25,962,198
|
|
51,501
|
|
0.40
|
|
Certificates and other time deposits
|
|
12,628,569
|
|
79,145
|
|
1.26
|
|
14,643,322
|
|
95,349
|
|
1.31
|
|
Foreign office deposits
|
|
—
|
|
—
|
|
—
|
|
109,569
|
|
108
|
|
0.20
|
|
Total interest bearing deposits
|
|
45,614,252
|
|
136,218
|
|
0.60
|
|
47,671,531
|
|
154,748
|
|
0.65
|
|
FHLB and other borrowings
|
|
3,638,825
|
|
41,518
|
|
2.30
|
|
4,756,471
|
|
37,604
|
|
1.59
|
|
Federal funds purchased and securities sold under agreement to repurchase
[c]
|
|
71,102
|
|
11,839
|
|
33.58
|
|
740,284
|
|
11,591
|
|
3.15
|
|
Other short-term borrowings
|
|
2,673,046
|
|
20,592
|
|
1.55
|
|
4,000,459
|
|
27,828
|
|
1.40
|
|
Total interest bearing
liabilities
|
|
51,997,225
|
|
210,167
|
|
0.82
|
|
57,168,745
|
|
231,771
|
|
0.82
|
|
Noninterest bearing deposits
|
|
20,845,583
|
|
|
|
|
|
20,289,233
|
|
|
|
|
|
Other noninterest bearing liabilities
|
|
1,803,140
|
|
|
|
|
|
2,175,306
|
|
|
|
|
|
Total liabilities
|
|
74,645,948
|
|
|
|
|
|
79,633,284
|
|
|
|
|
|
Shareholder's equity
|
|
12,929,108
|
|
|
|
|
|
12,739,562
|
|
|
|
|
|
Total liabilities and shareholder's equity
|
|
$ 87,575,056
|
|
|
|
|
|
$ 92,372,846
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income/ net interest spread
|
|
|
|
1,178,395
|
|
2.75 %
|
|
|
|
1,060,144
|
|
2.33 %
|
|
Net yield on earning assets
|
|
|
|
|
|
3.03 %
|
|
|
|
|
|
2.58 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total taxable equivalent adjustment
|
|
|
|
41,134
|
|
|
|
|
|
39,024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
|
|
$ 1,137,261
|
|
|
|
|
|
$ 1,021,120
|
|
|
|
|
[a] Excludes adjustment for market valuation.
|
|
|
[b] Beginning in the fourth quarter of 2016, interest bearing deposits with
the Federal Reserve are included in earning assets. Previous to this change, these balances were included with cash and
due from banks in the cash and cash equivalents line, consistent with the Condensed Consolidated Balance Sheet
presentation. Prior periods have been reclassified to conform to current period presentation.
|
|
|
[c] Yield/rate reflects impact of balance sheet offsetting.
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months
|
|
|
|
Three Months Ended
|
|
|
Ended June 30,
|
|
%
|
|
2017
|
|
2016
|
|
|
2017
|
|
2016
|
|
Change
|
|
June 30
|
|
March 31
|
|
December 31
|
|
September 30
|
|
June 30
|
|
NONINTEREST INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges on deposit accounts
|
|
$ 110,087
|
|
$ 103,346
|
|
7
|
|
$ 54,919
|
|
$ 55,168
|
|
$ 55,901
|
|
$ 55,047
|
|
$ 51,921
|
|
Card and merchant processing fees
|
|
62,452
|
|
61,251
|
|
2
|
|
32,460
|
|
29,992
|
|
31,161
|
|
31,256
|
|
31,509
|
|
Retail investment sales
|
|
56,059
|
|
49,552
|
|
13
|
|
28,588
|
|
27,471
|
|
23,293
|
|
30,137
|
|
26,985
|
|
Investment banking and advisory fees
|
|
48,244
|
|
51,939
|
|
(7)
|
|
19,943
|
|
28,301
|
|
20,792
|
|
34,385
|
|
28,335
|
|
Money transfer income
|
|
52,527
|
|
50,902
|
|
3
|
|
27,330
|
|
25,197
|
|
28,632
|
|
25,058
|
|
26,477
|
|
Asset management fees
|
|
19,826
|
|
17,191
|
|
15
|
|
10,055
|
|
9,771
|
|
8,906
|
|
8,778
|
|
8,386
|
|
Corporate and correspondent investment sales
|
|
21,104
|
|
14,516
|
|
45
|
|
12,189
|
|
8,915
|
|
3,199
|
|
6,974
|
|
10,103
|
|
Mortgage banking
|
|
6,186
|
|
(2,832)
|
|
NM
|
|
3,316
|
|
2,870
|
|
16,086
|
|
8,242
|
|
602
|
|
Bank owned life insurance
|
|
8,389
|
|
8,871
|
|
(5)
|
|
4,220
|
|
4,169
|
|
4,202
|
|
4,170
|
|
4,455
|
|
Other
|
|
106,138
|
|
146,678
|
|
(28)
|
|
53,305
|
|
52,833
|
|
68,881
|
|
59,718
|
|
67,789
|
|
|
491,012
|
|
501,414
|
|
(2)
|
|
246,325
|
|
244,687
|
|
261,053
|
|
263,765
|
|
256,562
|
|
Investment securities gains, net
|
|
—
|
|
30,037
|
|
(100)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
21,684
|
|
Loss on prepayment of FHLB and other borrowings, net
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(295)
|
|
—
|
|
—
|
|
Total noninterest income
|
|
$ 491,012
|
|
$ 531,451
|
|
(8)
|
|
$ 246,325
|
|
$ 244,687
|
|
$ 260,758
|
|
$ 263,765
|
|
$ 278,246
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NONINTEREST EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries, benefits and commissions
|
|
$ 556,441
|
|
$ 556,935
|
|
—
|
|
$ 288,426
|
|
$ 268,015
|
|
$ 283,609
|
|
$ 279,132
|
|
$ 277,166
|
|
Professional services
|
|
122,647
|
|
114,768
|
|
7
|
|
64,840
|
|
57,807
|
|
63,810
|
|
63,628
|
|
58,401
|
|
Equipment
|
|
124,035
|
|
119,949
|
|
3
|
|
62,405
|
|
61,630
|
|
62,627
|
|
59,697
|
|
59,508
|
|
Net occupancy
|
|
83,341
|
|
79,271
|
|
5
|
|
41,240
|
|
42,101
|
|
40,116
|
|
41,610
|
|
39,999
|
|
Money transfer expense
|
|
34,131
|
|
33,368
|
|
2
|
|
17,807
|
|
16,324
|
|
17,426
|
|
16,680
|
|
17,768
|
|
Marketing
|
|
29,274
|
|
24,215
|
|
21
|
|
15,729
|
|
13,545
|
|
13,018
|
|
13,316
|
|
11,506
|
|
Communications
|
|
10,500
|
|
10,638
|
|
(1)
|
|
5,281
|
|
5,219
|
|
5,406
|
|
5,002
|
|
5,463
|
|
Amortization of intangibles
|
|
5,050
|
|
8,187
|
|
(38)
|
|
2,525
|
|
2,525
|
|
4,093
|
|
4,093
|
|
4,094
|
|
Goodwill impairment
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
59,901
|
|
—
|
|
—
|
|
Other
|
|
156,378
|
|
185,850
|
|
(16)
|
|
74,232
|
|
82,146
|
|
64,064
|
|
73,113
|
|
67,132
|
|
Total noninterest expense
|
|
$ 1,121,797
|
|
$ 1,133,181
|
|
(1)
|
|
$ 572,485
|
|
$ 549,312
|
|
$ 614,070
|
|
$ 556,271
|
|
$ 541,037
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
(Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
NON-GAAP RECONCILIATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Computation of Average Tangible Equity:
|
|
|
|
|
|
|
|
|
|
Total stockholder's equity (average)
|
|
$ 13,004,717
|
|
$ 12,751,155
|
|
$ 12,929,108
|
|
$ 12,739,562
|
|
Less: Goodwill and other intangibles (average)
|
|
4,994,774
|
|
5,109,772
|
|
4,996,035
|
|
5,112,406
|
|
Average tangible equity [B]
|
|
$ 8,009,943
|
|
$ 7,641,383
|
|
$ 7,933,073
|
|
$ 7,627,156
|
|
Net income [A]
|
|
$ 157,440
|
|
$ 122,502
|
|
$ 278,263
|
|
$ 161,769
|
|
Return on average tangible equity ([A]/[B], annualized)
|
|
7.93 %
|
|
6.45 %
|
|
7.12 %
|
|
4.27 %
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter Ended June 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
|
$
32,398
|
|
$
6,532
|
|
$ 4,770
|
|
$ 448,565
|
|
$ 766
|
|
$ 24,117,488
|
|
$ 24,610,519
|
|
$ 20,047
|
|
Real estate – construction
|
4,829
|
|
474
|
|
2,251
|
|
1,993
|
|
110
|
|
2,279,166
|
|
2,288,823
|
|
(797)
|
|
Commercial real estate – mortgage
|
8,966
|
|
10,138
|
|
3,617
|
|
117,893
|
|
4,725
|
|
11,375,494
|
|
11,520,833
|
|
(1,386)
|
|
Residential real estate – mortgage
|
54,911
|
|
31,227
|
|
3,043
|
|
141,482
|
|
59,490
|
|
12,789,171
|
|
13,079,324
|
|
1,404
|
|
Equity lines of credit
|
8,560
|
|
4,933
|
|
1,630
|
|
29,347
|
|
236
|
|
2,535,194
|
|
2,579,900
|
|
795
|
|
Equity loans
|
4,109
|
|
1,202
|
|
320
|
|
11,015
|
|
32,110
|
|
346,093
|
|
394,849
|
|
209
|
|
Credit card
|
5,446
|
|
4,015
|
|
11,738
|
|
-
|
|
-
|
|
555,621
|
|
576,820
|
|
10,678
|
|
Consumer – direct
|
16,134
|
|
6,032
|
|
4,187
|
|
706
|
|
620
|
|
1,419,967
|
|
1,447,646
|
|
16,899
|
|
Consumer – indirect
|
75,605
|
|
18,189
|
|
5,681
|
|
8,964
|
|
-
|
|
2,952,843
|
|
3,061,282
|
|
14,590
|
|
Covered loans
|
3,438
|
|
308
|
|
22,197
|
|
348
|
|
-
|
|
294,873
|
|
321,164
|
|
-
|
|
Total loans
|
$
214,396
|
|
$
83,050
|
|
$ 59,434
|
|
$ 760,313
|
|
$ 98,057
|
|
$ 58,665,910
|
|
$ 59,881,160
|
|
$ 62,439
|
|
Loans held for sale
|
$
-
|
|
$
-
|
|
$
-
|
|
$ -
|
|
$
-
|
|
$ 74,558
|
|
$ 74,558
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter Ended March 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
|
$
22,472
|
|
$
11,804
|
|
$ 4,405
|
|
$ 540,407
|
|
$ 31,644
|
|
$ 24,049,936
|
|
$ 24,660,668
|
|
$ 39,411
|
|
Real estate – construction
|
487
|
|
25
|
|
3,640
|
|
1,028
|
|
114
|
|
2,222,111
|
|
2,227,405
|
|
(57)
|
|
Commercial real estate – mortgage
|
13,872
|
|
1,226
|
|
4,602
|
|
89,908
|
|
4,821
|
|
11,284,392
|
|
11,398,821
|
|
(741)
|
|
Residential real estate – mortgage
|
61,234
|
|
22,337
|
|
2,653
|
|
140,342
|
|
58,867
|
|
12,832,343
|
|
13,117,776
|
|
1,195
|
|
Equity lines of credit
|
9,144
|
|
3,619
|
|
1,478
|
|
32,675
|
|
-
|
|
2,513,579
|
|
2,560,495
|
|
1,166
|
|
Equity loans
|
5,105
|
|
1,592
|
|
376
|
|
12,626
|
|
33,635
|
|
367,028
|
|
420,362
|
|
848
|
|
Credit card
|
6,262
|
|
4,719
|
|
12,453
|
|
-
|
|
-
|
|
546,877
|
|
570,311
|
|
9,818
|
|
Consumer – direct
|
12,025
|
|
4,866
|
|
4,874
|
|
637
|
|
662
|
|
1,306,178
|
|
1,329,242
|
|
16,818
|
|
Consumer – indirect
|
68,851
|
|
16,161
|
|
7,463
|
|
7,955
|
|
-
|
|
2,978,318
|
|
3,078,748
|
|
15,899
|
|
Covered loans
|
6,448
|
|
3,479
|
|
23,673
|
|
410
|
|
-
|
|
307,929
|
|
341,939
|
|
(31)
|
|
Total loans
|
$
205,900
|
|
$
69,828
|
|
$ 65,617
|
|
$ 825,988
|
|
$ 129,743
|
|
$ 58,408,691
|
|
$ 59,705,767
|
|
$ 84,326
|
|
Loans held for sale
|
$
-
|
|
$
-
|
|
$
-
|
|
$ -
|
|
$
-
|
|
$ 74,741
|
|
$ 74,741
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
At or Quarter Ended December 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
|
$
23,788
|
|
$
6,581
|
|
$ 2,891
|
|
$ 596,454
|
|
$ 8,726
|
|
$ 24,483,562
|
|
$ 25,122,002
|
|
$ 14,413
|
|
Real estate – construction
|
918
|
|
50
|
|
2,007
|
|
1,239
|
|
2,393
|
|
2,118,709
|
|
2,125,316
|
|
(383)
|
|
Commercial real estate – mortgage
|
3,791
|
|
3,474
|
|
-
|
|
71,921
|
|
4,860
|
|
11,126,614
|
|
11,210,660
|
|
280
|
|
Residential real estate – mortgage
|
57,359
|
|
28,450
|
|
3,356
|
|
140,303
|
|
59,893
|
|
12,970,633
|
|
13,259,994
|
|
1,044
|
|
Equity lines of credit
|
7,922
|
|
4,583
|
|
2,950
|
|
33,453
|
|
-
|
|
2,494,870
|
|
2,543,778
|
|
641
|
|
Equity loans
|
5,615
|
|
1,843
|
|
467
|
|
13,635
|
|
34,746
|
|
389,403
|
|
445,709
|
|
512
|
|
Credit card
|
6,411
|
|
5,042
|
|
10,954
|
|
-
|
|
-
|
|
582,474
|
|
604,881
|
|
9,680
|
|
Consumer – direct
|
13,338
|
|
4,563
|
|
4,482
|
|
789
|
|
704
|
|
1,230,765
|
|
1,254,641
|
|
15,343
|
|
Consumer – indirect
|
85,198
|
|
22,833
|
|
7,197
|
|
5,926
|
|
-
|
|
3,013,794
|
|
3,134,948
|
|
19,902
|
|
Covered loans
|
7,311
|
|
1,351
|
|
27,238
|
|
730
|
|
-
|
|
322,704
|
|
359,334
|
|
(81)
|
|
Total loans
|
$
211,651
|
|
$
78,770
|
|
$ 61,542
|
|
$ 864,450
|
|
$ 111,322
|
|
$ 58,733,528
|
|
$ 60,061,263
|
|
$ 61,351
|
|
Loans held for sale
|
$
-
|
|
$
-
|
|
$
-
|
|
$ 56,592
|
|
$
-
|
|
$ 105,257
|
|
$ 161,849
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At or Quarter Ended September 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
|
$
72,328
|
|
$
4,400
|
|
$ 5,320
|
|
$ 850,075
|
|
$ 9,283
|
|
$ 23,897,662
|
|
$ 24,839,068
|
|
$ 8,936
|
|
Real estate – construction
|
522
|
|
1,062
|
|
2,782
|
|
1,214
|
|
3,315
|
|
2,206,377
|
|
2,215,272
|
|
(206)
|
|
Commercial real estate – mortgage
|
7,614
|
|
369
|
|
783
|
|
63,593
|
|
5,141
|
|
11,284,130
|
|
11,361,630
|
|
(372)
|
|
Residential real estate – mortgage
|
56,204
|
|
21,200
|
|
3,929
|
|
117,243
|
|
63,008
|
|
13,195,851
|
|
13,457,435
|
|
560
|
|
Equity lines of credit
|
8,173
|
|
4,477
|
|
2,417
|
|
32,642
|
|
-
|
|
2,446,759
|
|
2,494,468
|
|
601
|
|
Equity loans
|
5,567
|
|
1,694
|
|
353
|
|
13,198
|
|
36,053
|
|
422,510
|
|
479,375
|
|
18
|
|
Credit card
|
5,696
|
|
4,264
|
|
10,175
|
|
-
|
|
-
|
|
579,727
|
|
599,862
|
|
8,460
|
|
Consumer – direct
|
12,099
|
|
4,725
|
|
4,191
|
|
765
|
|
759
|
|
1,164,288
|
|
1,186,827
|
|
12,884
|
|
Consumer – indirect
|
73,045
|
|
20,165
|
|
7,070
|
|
7,019
|
|
-
|
|
3,088,936
|
|
3,196,235
|
|
15,197
|
|
Covered loans
|
4,075
|
|
3,844
|
|
28,505
|
|
269
|
|
-
|
|
344,418
|
|
381,111
|
|
-
|
|
Total loans
|
$
245,323
|
|
$
66,200
|
|
$ 65,525
|
|
$ 1,086,018
|
|
$ 117,559
|
|
$ 58,630,658
|
|
$ 60,211,283
|
|
$ 46,078
|
|
Loans held for sale
|
$
-
|
|
$
-
|
|
$
-
|
|
$ -
|
|
$
-
|
|
$ 101,843
|
|
$ 101,843
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
$
-
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
BALANCE SHEET (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
June 30
|
|
March 31
|
|
December 31
|
|
September 30
|
|
June 30
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks
|
$ 1,073,646
|
|
$ 1,093,797
|
|
$ 1,284,261
|
|
$ 1,130,610
|
|
$ 1,581,187
|
|
Interest bearing funds with the Federal Reserve
|
2,120,285
|
|
2,669,135
|
|
1,830,078
|
|
2,923,813
|
|
3,248,576
|
|
Federal funds sold, securities purchased under agreements to resell and
interest bearing deposits
|
182,215
|
|
197,000
|
|
137,447
|
|
372,268
|
|
319,644
|
|
Cash and cash equivalents
|
3,376,146
|
|
3,959,932
|
|
3,251,786
|
|
4,426,691
|
|
5,149,407
|
|
Trading account assets
|
2,651,083
|
|
2,892,254
|
|
3,144,600
|
|
4,051,461
|
|
4,355,025
|
|
Investment securities available for sale
|
12,142,844
|
|
11,846,618
|
|
11,665,055
|
|
11,516,885
|
|
11,359,159
|
|
Investment securities held to maturity
|
1,143,171
|
|
1,158,785
|
|
1,203,217
|
|
1,240,850
|
|
1,258,253
|
|
Loans held for sale
|
74,558
|
|
74,741
|
|
161,849
|
|
101,843
|
|
108,432
|
|
Loans
|
59,881,160
|
|
59,705,767
|
|
60,061,263
|
|
60,211,283
|
|
61,679,943
|
|
Allowance for loan losses
|
(816,952)
|
|
(834,106)
|
|
(838,293)
|
|
(862,080)
|
|
(843,051)
|
|
Net loans
|
59,064,208
|
|
58,871,661
|
|
59,222,970
|
|
59,349,203
|
|
60,836,892
|
|
Premises and equipment, net
|
1,253,516
|
|
1,273,226
|
|
1,300,054
|
|
1,287,457
|
|
1,290,738
|
|
Bank owned life insurance
|
718,938
|
|
715,883
|
|
711,939
|
|
712,422
|
|
708,143
|
|
Goodwill
|
4,983,296
|
|
4,983,296
|
|
4,983,296
|
|
5,043,197
|
|
5,043,197
|
|
Other assets
|
1,596,159
|
|
1,532,837
|
|
1,435,187
|
|
1,626,829
|
|
1,643,910
|
|
Total assets
|
$ 87,003,919
|
|
$ 87,309,233
|
|
$ 87,079,953
|
|
$ 89,356,838
|
|
$ 91,753,156
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
Noninterest bearing
|
$ 21,000,630
|
|
$ 21,476,890
|
|
$ 20,332,792
|
|
$ 20,585,598
|
|
$ 20,132,164
|
|
Interest bearing
|
44,616,750
|
|
46,052,748
|
|
46,946,741
|
|
47,001,739
|
|
47,618,154
|
|
Total deposits
|
65,617,380
|
|
67,529,638
|
|
67,279,533
|
|
67,587,337
|
|
67,750,318
|
|
FHLB and other borrowings
|
4,789,494
|
|
2,993,222
|
|
3,001,551
|
|
3,671,861
|
|
5,098,048
|
|
Federal funds purchased and securities sold under agreements to
repurchase
|
31,619
|
|
71,559
|
|
39,052
|
|
165,573
|
|
386,343
|
|
Other short-term borrowings
|
2,435,260
|
|
2,642,539
|
|
2,802,977
|
|
3,591,223
|
|
4,352,428
|
|
Accrued expenses and other liabilities
|
1,140,536
|
|
1,186,776
|
|
1,206,133
|
|
1,521,654
|
|
1,439,023
|
|
Total liabilities
|
74,014,289
|
|
74,423,734
|
|
74,329,246
|
|
76,537,648
|
|
79,026,160
|
|
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
|
14,916,198
|
|
14,982,125
|
|
14,985,673
|
|
15,020,937
|
|
15,022,974
|
|
Retained deficit
|
(2,050,051)
|
|
(2,207,060)
|
|
(2,327,440)
|
|
(2,416,402)
|
|
(2,536,230)
|
|
Accumulated other comprehensive loss
|
(137,131)
|
|
(150,781)
|
|
(168,252)
|
|
(46,644)
|
|
(20,500)
|
|
Total BBVA Compass Bancshares, Inc. shareholder's equity
|
12,960,721
|
|
12,855,989
|
|
12,721,686
|
|
12,789,596
|
|
12,697,949
|
|
Noncontrolling interests
|
28,909
|
|
29,510
|
|
29,021
|
|
29,594
|
|
29,047
|
|
Total shareholder's equity
|
12,989,630
|
|
12,885,499
|
|
12,750,707
|
|
12,819,190
|
|
12,726,996
|
|
Total liabilities and shareholder's equity
|
$ 87,003,919
|
|
$ 87,309,233
|
|
$ 87,079,953
|
|
$ 89,356,838
|
|
$ 91,753,156
|
|
BBVA COMPASS BANCSHARES, INC.
|
|
INCOME STATEMENT (Unaudited)
|
|
(Dollars in Thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
2017
|
|
2016
|
|
June 30
|
|
March 31
|
|
December 31
|
|
September 30
|
|
June 30
|
|
Interest income:
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on loans
|
$ 607,375
|
|
$ 574,712
|
|
$ 558,680
|
|
$ 557,996
|
|
$ 559,170
|
|
Interest on investment securities available for sale
|
55,590
|
|
54,878
|
|
60,868
|
|
48,382
|
|
36,442
|
|
Interest on investment securities held to maturity
|
6,821
|
|
6,639
|
|
6,664
|
|
6,675
|
|
6,759
|
|
Interest on federal funds sold, securities purchased under agreements to
resell and interest bearing deposits
|
12,049
|
|
9,262
|
|
7,664
|
|
4,563
|
|
4,346
|
|
Interest on trading account assets
|
9,805
|
|
10,297
|
|
13,150
|
|
12,926
|
|
13,412
|
|
Total interest income
|
691,640
|
|
655,788
|
|
647,026
|
|
630,542
|
|
620,129
|
|
Interest expense:
|
|
|
|
|
|
|
|
|
|
|
Interest on deposits
|
65,914
|
|
70,304
|
|
73,846
|
|
76,031
|
|
76,933
|
|
Interest on FHLB and other borrowings
|
22,450
|
|
19,068
|
|
23,825
|
|
21,315
|
|
19,592
|
|
Interest on federal funds purchased and securities sold under agreements to
repurchase
|
6,942
|
|
4,897
|
|
4,640
|
|
4,934
|
|
5,434
|
|
Interest on other short-term borrowings
|
10,506
|
|
10,086
|
|
12,963
|
|
13,453
|
|
13,932
|
|
Total interest expense
|
105,812
|
|
104,355
|
|
115,274
|
|
115,733
|
|
115,891
|
|
Net interest income
|
585,828
|
|
551,433
|
|
531,752
|
|
514,809
|
|
504,238
|
|
Provision for loan losses
|
45,285
|
|
80,139
|
|
37,564
|
|
65,107
|
|
86,673
|
|
Net interest income after provision for loan losses
|
540,543
|
|
471,294
|
|
494,188
|
|
449,702
|
|
417,565
|
|
Noninterest income:
|
|
|
|
|
|
|
|
|
|
|
Service charges on deposit accounts
|
54,919
|
|
55,168
|
|
55,901
|
|
55,047
|
|
51,921
|
|
Card and merchant processing fees
|
32,460
|
|
29,992
|
|
31,161
|
|
31,256
|
|
31,509
|
|
Retail investment sales
|
28,588
|
|
27,471
|
|
23,293
|
|
30,137
|
|
26,985
|
|
Investment banking and advisory fees
|
19,943
|
|
28,301
|
|
20,792
|
|
34,385
|
|
28,335
|
|
Money transfer income
|
27,330
|
|
25,197
|
|
28,632
|
|
25,058
|
|
26,477
|
|
Asset management fees
|
10,055
|
|
9,771
|
|
8,906
|
|
8,778
|
|
8,386
|
|
Corporate and correspondent investment sales
|
12,189
|
|
8,915
|
|
3,199
|
|
6,974
|
|
10,103
|
|
Mortgage banking
|
3,316
|
|
2,870
|
|
16,086
|
|
8,242
|
|
602
|
|
Bank owned life insurance
|
4,220
|
|
4,169
|
|
4,202
|
|
4,170
|
|
4,455
|
|
Investment securities gains, net
|
—
|
|
—
|
|
—
|
|
—
|
|
21,684
|
|
Loss on prepayment of FHLB and other borrowings
|
—
|
|
—
|
|
(295)
|
|
—
|
|
—
|
|
Other
|
53,305
|
|
52,833
|
|
68,881
|
|
59,718
|
|
67,789
|
|
Total noninterest income
|
246,325
|
|
244,687
|
|
260,758
|
|
263,765
|
|
278,246
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
Salaries, benefits and commissions
|
288,426
|
|
268,015
|
|
283,609
|
|
279,132
|
|
277,166
|
|
Professional services
|
64,840
|
|
57,807
|
|
63,810
|
|
63,628
|
|
58,401
|
|
Equipment
|
62,405
|
|
61,630
|
|
62,627
|
|
59,697
|
|
59,508
|
|
Net occupancy
|
41,240
|
|
42,101
|
|
40,116
|
|
41,610
|
|
39,999
|
|
Money transfer expense
|
17,807
|
|
16,324
|
|
17,426
|
|
16,680
|
|
17,768
|
|
Marketing
|
15,729
|
|
13,545
|
|
13,018
|
|
13,316
|
|
11,506
|
|
Communications
|
5,281
|
|
5,219
|
|
5,406
|
|
5,002
|
|
5,463
|
|
Amortization of intangibles
|
2,525
|
|
2,525
|
|
4,093
|
|
4,093
|
|
4,094
|
|
Goodwill impairment
|
—
|
|
—
|
|
59,901
|
|
—
|
|
—
|
|
Other
|
74,232
|
|
82,146
|
|
64,064
|
|
73,113
|
|
67,132
|
|
Total noninterest expense
|
572,485
|
|
549,312
|
|
614,070
|
|
556,271
|
|
541,037
|
|
Net income before income tax expense
|
214,383
|
|
166,669
|
|
140,876
|
|
157,196
|
|
154,774
|
|
Income tax expense
|
56,943
|
|
45,846
|
|
51,473
|
|
36,845
|
|
32,272
|
|
Net income
|
157,440
|
|
120,823
|
|
89,403
|
|
120,351
|
|
122,502
|
|
Less: net income attributable to noncontrolling interests
|
431
|
|
443
|
|
441
|
|
523
|
|
518
|
|
Net income attributable to BBVA Compass Bancshares, Inc.
|
$ 157,009
|
|
$ 120,380
|
|
$ 88,962
|
|
$ 119,828
|
|
$ 121,984
|
View original content with multimedia:http://www.prnewswire.com/news-releases/bbva-compass-reports-record-quarterly-earnings-300495461.html
SOURCE BBVA Compass