BBVA Compass Bancshares, Inc. reports first quarter 2015 earnings of $141 million

- First quarter earnings increase 23 percent from prior year levels

- Total loans end the quarter at $58.8 billion, up 11 percent from prior year levels

- Total deposits increase 10 percent to $62.9 billion, driven by a 17 percent increase in low-cost interest bearing accounts and a 14 percent increase in noninterest bearing deposits

- Total revenue increases 4 percent, fueled by increases in both noninterest income and net interest income; expense growth well contained at 1 percent

- Net charge-off ratio dips to 17 basis points; nonperforming asset ratio at 77 basis points and coverage ratio remains healthy at 156 percent

HOUSTON, April 29, 2015 /PRNewswire/ -- BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $141 million for the first quarter of 2015, a 23 percent increase compared to $114 million earned during the first quarter of 2014. Return on average assets and return on average tangible equity1 for the first three months of 2015 were 0.68 percent and 8.25 percent, respectively.

BBVA Compass corporate logo

"Despite the challenging interest rate environment, BBVA Compass delivered strong results highlighted by robust balance sheet growth and balanced revenue growth," said Manolo Sanchez, chairman and CEO of BBVA Compass. "Continued demand for commercial loans and residential mortgages were the primary drivers behind the 11 percent increase in total loans. While total deposits increased 10 percent, growth of low-cost deposits was even more pronounced with savings and money market deposits growing 17 percent and noninterest bearing demand deposits increasing 14 percent."

"The continued growth of our loan and deposit portfolios reflect the complement of investment banking capabilities we have added, coupled with the addition of commercial loan offices in targeted markets," Sanchez said. "Clearly these efforts, by design, have aided our ability to expand our client base while further enhancing our relationships with existing commercial customers."

Sanchez noted that total revenue increased four percent as both net interest income and noninterest income posted solid gains. Net interest income increased three percent from prior year levels and was driven by strong loan and low-cost deposit growth. Noninterest income, excluding a net gain from securities transactions and the extinguishment of FHLB advances, increased eight percent. At the same time, expenses were well contained as disciplined expense management resulted in a one percent increase in noninterest expenses.

Credit quality metrics continued to reflect a strong risk profile. Net charge-offs as a percentage of average loans dipped to 17 basis points compared to 24 basis points in the year ago quarter. Nonperforming assets as a percentage of loans, other real estate and other repossessed assets were 77 basis points compared to 95 basis points a year ago. 

Total shareholder's equity ended the first quarter of 2015 at $12.2 billion, a four percent increase from $11.7 billion at the end of the first quarter of 2014. Additionally, each of the company's regulatory capital ratios remained significantly above 'well-capitalized' guidelines.

"BBVA Compass is committed to maintaining a strong capital position and the recently completed stress tests demonstrate our ability to generate retained earnings and our capacity to absorb significant stress under various severely adverse economic scenarios," Sanchez said.

During the first quarter, BBVA Compass announced a new card-issuing partnership that brings together three global brands – BBVA, American Express and the NBA – through the BBVA Compass NBA American Express® Card. The new card represents a unique offering and better reflects customers' expectations in today's digital age as the paper application and lengthy approval time has been replaced by an exclusively on-line application, instant approvals for qualified customers and around-the-clock customer service.

BBVA Compass also announced that its customers will be able to send and receive funds instantly through Dwolla, an all-digital payments network. The collaboration makes BBVA Compass the largest financial institution to use the Dwolla platform for real-time transfers, thus eliminating the wait associated with Automated Clearing House (ACH) transfers that typically can take two-to-five business days to clear.

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.

About BBVA Compass

BBVA Compass Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary, BBVA Compass, operates 672 branches, including 341 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass' mobile app recently earned the Mobile Banking Leader in Functionality Award for the second consecutive year in the Javelin Strategy & Research's Mobile Banking Financial Institution Scorecard. Additional information about BBVA Compass can be found under the Investor Relations tab at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com

About BBVA Group

BBVA Compass Bancshares, Inc. is a wholly owned subsidiary of BBVA BBVA BBVA. BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.

On April 15, 2015, BBVA filed its annual report Form 20-F for the year ended December 31, 2014, with the Securities and Exchange Commission. A copy can be accessed on the BBVA website at http://shareholdersandinvestors.bbva.com/TLBB/tlbb/bbvair/ing/share/adrs/index.jsp. Holders of BBVA's American Depositary Receipts (ADRs) may request a hard copy of the Form 20-F for the year ended December 31, 2014, including its complete audited financial statements, free of charge. To request a copy, contact Ed Bilek at ed.bilek@bbva.com.

Forward-Looking Statements

Certain statements in this press release may contain forward-looking statements about BBVA Compass Bancshares, Inc. (the "Company") and its industry that involve substantial risks and uncertainties. The use of "we," "our" and similar terms refer to the Company. Statements other than statements of current or historical fact, including statements regarding our future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to the Company, constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect the Company's views regarding future events and financial performance. Such statements are subject to risks, uncertainties, assumptions and other important factors, many of which may be beyond the Company's control, that could cause actual results to differ materially from anticipated results. If the Company's assumptions and estimates are incorrect, or if the Company becomes subject to significant limitations as the result of litigation or regulatory action, then the Company's actual results could vary materially from those expressed or implied in these forward-looking statements. The forward-looking statements are and will be based on the Company's then current views and assumptions regarding future events and speak only as of their dates made. The Company assumes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by securities law or regulation. For further information regarding risks and uncertainties associated with the Company's business, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 11, 2015, as updated by our subsequent SEC filings.

BBVA COMPASS BANCSHARES, INC.






(Unaudited)






(Dollars in thousands)





















Three Months Ended 
 March 31,


%









2015


2014


 Change 







EARNINGS SUMMARY













Net interest income


$       509,029


$       495,299


3







Noninterest income [a]


218,987


203,352


8







Total revenue [a]


728,016


698,651


4







Investment securities gain, net


32,832


16,434


100







Loss on prepayment of FHLB advances


(2,549)


(458)


 NM 







Provision for loan losses


42,031


37,266


13







Noninterest expense


522,719


518,867


1







Pretax income


193,549


158,494


22







Income tax expense


51,782


43,567


19







Net income


141,767


114,927


23







Net income attributable to noncontrolling interests


657


453


45







Net income attributable to shareholder


$       141,110


$       114,474


23




















SELECTED RATIOS













Return on average assets


0.68 %


0.64 %









Return on average tangible equity [b]


8.25


7.18









Average common equity to average assets


14.24


15.83









Average loans to average total deposits


94.67


94.08









Tier I capital ratio [c]


10.70


11.30









Total capital ratio [c]


12.55


13.39









Leverage ratio [c]


8.92


9.88


















































Average for Three Months




Ending Balance





Ended March 31,


%


March 31,


%



2015


2014


 Change 


2015


2014


 Change 

BALANCE SHEET HIGHLIGHTS












Total loans


$  58,813,049


$  51,943,121


13


$  58,756,951


$  52,795,787


11

Total investment securities


11,386,056


10,196,527


12


11,475,370


10,027,118


14

Earning assets


73,686,670


62,245,698


18


73,966,204


62,930,076


18

Total assets


85,087,155


73,359,144


16


85,475,741


74,957,227


14

Noninterest bearing demand deposits


17,933,517


15,652,987


15


18,599,702


16,322,699


14

Interest bearing transaction accounts


31,424,229


27,073,002


16


31,539,717


27,987,795


13

Total transaction accounts


49,357,746


42,725,989


16


50,139,419


44,310,494


13

Total deposits


62,121,217


55,209,690


13


62,900,681


57,085,210


10

Shareholder's equity


12,116,432


11,615,847


4


12,161,930


11,729,834


4


[a]  Excludes net gain on sales of investment securities and loss on prepayment of FHLB advances.

[b]  Non-GAAP measure that we believe aids in understanding certain areas of our performance.  The calculation of this measure is included on the page titled Non-GAAP Reconciliation.

[c]  Current period regulatory capital ratios are estimated.  Figures for 2015 calculated using the applicable Transitional Basel III regulatory capital methodology.  Figures for 2014 calculated using the applicable Basel I regulatory capital methodology in place at that time.

NM = Not meaningful

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)








2015


2014



March 31


December 31


September 30


June 30


March 31

NONPERFORMING ASSETS











Nonaccrual loans [b]


$  357,539


$     322,654


$      344,937


$  341,807


$  388,597

Loans 90 days or more past due [a]


70,750


71,454


76,196


76,219


83,490

TDRs 90 days or more past due


820


1,722


991


629


204

  Total nonperforming loans [b]


429,109


395,830


422,124


418,655


472,291

Other real estate owned, net (OREO)


17,764


20,600


17,058


21,113


25,817

Other repossessed assets


3,823


3,920


3,618


2,796


3,313

Total nonperforming assets


$  450,696


$     420,350


$      442,800


$  442,564


$  501,421












TDRs accruing and past due less than 90 days


$  157,252


$     161,261


$      170,789


$  177,630


$  202,075












Covered loans [c]


488,560


495,190


580,756


613,152


701,158

Covered nonperforming loans [c]


45,581


48,071


56,221


59,331


63,664

Covered nonperforming assets [c]


47,598


51,989


59,609


62,824


67,500












Total nonperforming loans as a % of loans


0.73 %


0.69 %


0.76 %


0.77 %


0.89 %

Total nonperforming loans as a % of loans, excluding covered loans


0.66


0.61


0.67


0.67


0.78

Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets


0.77


0.73


0.80


0.81


0.95

Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets, excluding covered assets


0.69


0.65


0.70


0.71


0.83














Three Months Ended



2015


2014



March 31


December 31


September 30


June 30


March 31

ALLOWANCE FOR LOAN LOSSES











Balance at beginning of period


$  685,041


$     695,878


$      714,760


$  707,665


$  700,719

Net charge-offs (NCO)


25,208


30,751


22,751


38,157


30,320

Provision for loan losses


42,031


19,914


3,869


45,252


37,266

Balance at end of period


$  701,864


$     685,041


$      695,878


$  714,760


$  707,665












Allowance for loan losses as a % of total loans


1.20 %


1.19 %


1.27 %


1.32 %


1.34 %

Allowance for loan losses as a % of nonperforming loans [d]


163.56


173.06


164.85


170.73


149.84

Allowance for loan losses as a % of nonperforming assets [d]


155.73


162.97


157.15


161.50


141.13












Annualized as a % of average loans:











NCO - QTD


0.17


0.22


0.16


0.28


0.24

NCO - YTD


0.17


0.22


0.23


0.26


0.24


[a]  Excludes loans classified as troubled debt restructuring (TDRs).

[b]  Includes loans held for sale.

[c]  Covered assets includes loans and OREO acquired from the FDIC subject to loss sharing agreements.

[d]  Includes loans held for sale that are on nonaccrual status.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)
















Three Months Ended March 31,



2015


2014



Average Balance


Income/ Expense


Yield/ Rate


Average Balance


Income/ Expense


Yield/ Rate

YIELD/RATE ANALYSIS













(Taxable Equivalent Basis)













Assets













Earning assets:













Loans


$  58,813,049


$  557,889


3.85 %


$  51,943,121


$  520,592


4.06 %

Investment securities available for sale [a]


9,958,593


49,730


2.03


8,652,584


50,994


2.39

Investment securities held to maturity


1,360,396


9,663


2.88


1,505,398


10,373


2.79

Other earning assets


3,487,565


10,610


1.23


106,050


566


2.16

Total earning assets [a]


73,619,603


627,892


3.46


62,207,153


582,525


3.80

Allowance for loan losses


(691,535)






(702,748)





Unrealized gain (loss) on securities available for sale


67,067






38,545





Other assets


12,092,020






11,816,194





Total assets


$  85,087,155






$  73,359,144


















Liabilities and Shareholder's Equity













Interest bearing liabilities:













 Interest bearing demand deposits


$    7,634,040


$      3,037


0.16


$    7,491,112


$      2,997


0.16

 Savings and money market accounts


23,790,189


26,898


0.46


19,581,890


15,666


0.32

 Certificates and other time deposits


12,614,526


39,645


1.27


12,360,560


34,491


1.13

 Foreign office deposits


148,945


73


0.20


123,141


62


0.20

  Total interest bearing deposits


44,187,700


69,653


0.64


39,556,703


53,216


0.55

FHLB and other borrowings


4,880,657


19,106


1.59


4,289,004


16,364


1.55

Federal funds purchased and securities sold under agreement to repurchase


939,813


1,326


0.57


941,171


500


0.22

Other short-term borrowings


3,150,252


10,248


1.32


12,553


26


0.84

Total interest bearing liabilities


53,158,422


100,333


0.77


44,799,431


70,106


0.63

Noninterest bearing deposits


17,933,517






15,652,987





Other noninterest bearing liabilities


1,878,784






1,290,879





Total liabilities


72,970,723






61,743,297





Shareholder's equity


12,116,432






11,615,847





Total liabilities and shareholder's equity


$  85,087,155






$  73,359,144


















Net interest income/ net interest spread




527,559


2.69 %




512,419


3.17 %

Net yield on earning assets






2.91 %






3.34 %














Total taxable equivalent adjustment




18,530






17,120
















Net interest income




$  509,029






$  495,299




[a] Excludes adjustment for market valuation.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)




















Three Months




Three Months Ended



Ended March 31


%


2015


2014



2015


2014


 Change 


March 31


December 31


September 30


June 30


March 31

NONINTEREST INCOME

















Service charges on deposit accounts


$    53,284


$    53,391



$    53,284


$       56,799


$        57,537


$    54,958


$    53,391

Card and merchant processing fees


26,183


24,304


8


26,183


26,432


28,682


28,473


24,304

Retail investment sales


25,146


26,564


(5)


25,146


25,424


27,645


28,844


26,564

Investment banking and advisory fees


30,334


22,196


37


30,334


24,228


18,750


22,280


22,196

Asset management fees


8,096


10,758


(25)


8,096


10,813


10,666


10,535


10,758

Corporate and correspondent investment sales


6,259


8,656


(28)


6,259


7,619


5,388


7,972


8,656

Mortgage banking income


8,159


4,276


91


8,159


5,627


8,498


6,150


4,276

Bank owned life insurance


4,788


3,967


21


4,788


5,809


4,603


4,237


3,967

Other


56,738


49,240


15


56,738


68,033


54,809


50,532


49,240



218,987


203,352


8


218,987


230,784


216,578


213,981


203,352

Investment securities gains, net


32,832


16,434


100


32,832


5,434


9,710


21,464


16,434

Loss on prepayment of FHLB and other borrowings


(2,549)


(458)


 NM 


(2,549)



143



(458)

Total noninterest income


$  249,270


$  219,328


14


$  249,270


$     236,218


$      226,431


$  235,445


$  219,328


















NONINTEREST EXPENSE

















Salaries, benefits and commissions


$  259,262


$  262,569


(1)


$  259,262


$     281,065


$      265,334


$  263,301


$  262,569

FDIC indemnification expense


28,789


31,618


(9)


28,789


34,313


18,748


30,370


31,618

Professional services


46,559


46,399



46,559


59,027


52,463


49,790


46,399

Equipment


58,141


53,738


8


58,141


58,401


56,355


55,469


53,738

Net occupancy


39,280


38,957


1


39,280


39,865


39,357


40,200


38,957

Marketing


10,088


8,524


18


10,088


5,894


11,587


9,986


8,524

Communications


5,767


6,347


(9)


5,767


6,003


5,964


6,294


6,347

Amortization of intangibles


10,687


12,534


(15)


10,687


24,556


12,635


13,631


12,534

Other


64,146


58,181


10


64,146


74,357


70,699


76,221


58,181

Total noninterest expense


$  522,719


$  518,867


1


$  522,719


$     583,481


$      533,142


$  545,262


$  518,867


















NM = Not meaningful







 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)








Three Months Ended March 31,



2015


2014

NON-GAAP RECONCILIATION










Computation of Average Tangible Equity:





Total stockholder's equity (average)


$         12,116,432


$  11,615,847

Less: Goodwill and other intangibles (average)


5,147,582


5,121,550

Average tangible equity [B]


$           6,968,850


$    6,494,297

Net income [A]


$              141,767


$       114,927

Return on average tangible equity (A/B, annualized)


8.25 %


7.18 %

 

BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)


















At or Quarter Ended March 31, 2015




30-59 Days Past Due


60-89 Days Past Due


90 Days or More Past Due


Nonaccrual


Accruing TDRs


Not Past Due or Impaired


Total


Net Charge Offs (Recoveries)







Commercial, financial and agricultural

$                         7,940


$                         3,981


$                 2,901


$     95,318


$              9,632


$     24,329,192


$ 24,448,964


$                4,437

Real estate – construction

5,275


450


392


7,781


2,237


2,309,360


2,325,495


(1,426)

Commercial real estate –  mortgage

6,346


3,629


2,542


87,931


35,292


9,784,843


9,920,583


203

Residential real estate – mortgage

45,893


17,007


3,195


107,051


70,299


13,757,423


14,000,868


927

Equity lines of credit

10,615


4,602


1,995


34,597


-


2,274,075


2,325,884


1,943

Equity loans

5,387


1,728


703


18,313


40,432


568,732


635,295


371

Credit card

5,004


3,441


8,618


-


-


582,967


600,030


7,834

Consumer – direct

7,545


2,406


2,426


2,010


180


692,684


707,251


3,478

Consumer – indirect

34,444


6,726


2,576


4,102


-


3,057,685


3,105,533


6,568

Covered loans

6,582


3,872


45,402


179


-


432,525


488,560


873

 Total loans

$                     135,031


$                       47,842


$              70,750


$   357,282


$         158,072


$     57,789,486


$ 58,558,463


$              25,208

Loans held for sale

$                                -


$                                -


$                        -


$           257


$                     -


$           198,231


$       198,488


$                       -


















At or Quarter Ended December 31, 2014




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

$                       10,829


$                         5,765


$                 1,610


$     61,157


$            10,127


$     23,739,049


$ 23,828,537


$                   712

Real estate – construction

1,954


994


477


7,964


2,112


2,141,151


2,154,652


(1,539)

Commercial real estate –  mortgage

9,813


4,808


628


89,736


39,841


9,732,380


9,877,206


3,180

Residential real estate – mortgage

45,279


16,510


2,598


108,357


69,408


13,680,504


13,922,656


3,848

Equity lines of credit

9,929


4,395


2,679


32,874


-


2,254,907


2,304,784


2,128

Equity loans

6,357


3,268


997


19,029


41,197


564,120


634,968


755

Credit card

5,692


3,921


9,441


-


-


611,402


630,456


8,209

Consumer – direct

9,542


1,826


2,296


799


298


638,166


652,927


4,756

Consumer – indirect

35,366


7,935


2,771


2,624


-


2,821,712


2,870,408


8,367

Covered loans

6,678


4,618


47,957


114


-


435,823


495,190


335

Total loans

$                     141,439


$                       54,040


$              71,454


$   322,654


$         162,983


$     56,619,214


$ 57,371,784


$              30,751

Loans held for sale

$                             240


$                                -


$                        -


$              -


$                     -


$           154,576


$       154,816


$                       -


















BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)






At or Quarter Ended September 30, 2014




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

$                       12,846


$                         3,261


$                    838


$     79,577


$            10,444


$     22,403,990


$ 22,510,956


$                  (414)

Real estate – construction

526


109


464


9,928


672


1,966,085


1,977,784


(977)

Commercial real estate –  mortgage

7,716


3,129


3,448


92,718


43,023


9,348,527


9,498,561


247

Residential real estate – mortgage

37,711


20,447


2,474


104,192


72,590


13,369,402


13,606,816


3,223

Equity lines of credit

8,046


3,966


3,308


34,115


-


2,210,126


2,259,561


2,221

Equity loans

5,624


2,746


1,068


18,637


42,595


558,377


629,047


1,142

Credit card

5,566


3,718


8,774


-


-


612,942


631,000


7,570

Consumer – direct

7,751


1,678


1,984


402


57


598,108


609,980


4,482

Consumer – indirect

30,348


6,379


1,389


1,596


-


2,665,060


2,704,772


4,553

Covered loans

9,741


4,512


52,449


3,772


2,399


507,883


580,756


704

Total loans

$                     125,875


$                       49,945


$              76,196


$   344,937


$         171,780


$     54,240,500


$ 55,009,233


$              22,751

Loans held for sale

$                                -


$                                -


$                        -


$              -


$                     -


$           190,882


$       190,882


$                       -


















At or Quarter Ended June 30, 2014




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

$                         8,399


$                         3,520


$                 2,311


$     72,606


$            10,491


$     22,268,502


$ 22,365,829


$              11,584

Real estate – construction

923


418


1,138


9,401


2,244


1,778,056


1,792,180


1,070

Commercial real estate –  mortgage

5,675


3,358


221


88,554


45,836


9,317,448


9,461,092


4,062

Residential real estate – mortgage

43,219


15,305


2,332


110,077


73,329


13,111,778


13,356,040


2,030

Equity lines of credit

9,113


4,776


2,044


35,552


-


2,186,966


2,238,451


6,204

Equity loans

6,364


2,666


833


19,571


42,460


537,900


609,794


1,345

Credit card

5,186


3,766


8,737


-


-


619,215


636,904


8,857

Consumer – direct

8,859


1,441


2,194


282


67


551,106


563,949


4,071

Consumer – indirect

24,633


4,585


1,231


1,611


-


2,416,342


2,448,402


2,614

Covered loans

7,184


4,182


55,178


4,153


3,832


538,623


613,152


(3,680)

Total loans

$                     119,555


$                       44,017


$              76,219


$   341,807


$         178,259


$     53,325,936


$ 54,085,793


$              38,157

Loans held for sale

$                               70


$                                -


$                        -


$              -


$                     -


$           211,809


$       211,879


$                       -


















BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)


















At or Quarter Ended March 31, 2014




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

$                       10,240


$                         2,277


$                 1,403


$   103,133


$            21,244


$     21,601,190


$ 21,739,487


$                    (51)

Real estate – construction

3,346


147


1,337


10,999


2,436


1,711,285


1,729,550


(915)

Commercial real estate –  mortgage

12,173


3,070


626


106,295


59,543


9,121,321


9,303,028


2,023

Residential real estate – mortgage

42,003


15,432


2,632


107,601


72,043


12,746,663


12,986,374


6,057

Equity lines of credit

10,249


9,068


5,285


33,178


-


2,161,082


2,218,862


4,838

Equity loans

8,410


3,970


825


20,130


43,078


540,349


616,762


2,119

Credit card

5,742


4,254


9,965


-


-


614,305


634,266


8,679

Consumer – direct

7,375


1,509


2,814


355


79


501,665


513,797


3,942

Consumer – indirect

18,980


3,569


497


1,349


-


2,226,493


2,250,888


3,754

Covered loans

8,088


11,378


58,106


5,557


3,856


614,173


701,158


(126)

Total loans

$                     126,606


$                       54,674


$              83,490


$   388,597


$         202,279


$     51,838,526


$ 52,694,172


$              30,320

Loans held for sale

$                                -


$                                -


$                        -


$              -


$                     -


$           101,615


$       101,615


$                       -

 

BBVA COMPASS BANCSHARES, INC.

BALANCE SHEET (Unaudited)

(Dollars in Thousands)












2015


2014


March 31,


December 31,


September 30,


June 30,


March 31,

Assets:










Cash and due from banks

$    3,664,182


$    2,764,345


$      4,643,636


$    3,232,911


$    4,257,226

Federal funds sold, securities purchased under agreements to resell and interest bearing deposits

300,175


624,060


271,898


31,291


16,446

Cash and cash equivalents

3,964,357


3,388,405


4,915,534


3,264,202


4,273,672

Trading account assets

3,680,427


2,834,397


515,136


356,889


342,963

Investment securities available for sale

10,101,828


10,237,275


9,326,413


8,972,237


8,533,722

Investment securities held to maturity

1,373,542


1,348,354


1,417,985


1,448,192


1,493,396

Loans held for sale

198,488


154,816


190,882


211,879


101,615

Loans

58,558,463


57,371,784


55,009,233


54,085,793


52,694,172

Allowance for loan losses

(701,864)


(685,041)


(695,878)


(714,760)


(707,665)

Net loans

57,856,599


56,686,743


54,313,355


53,371,033


51,986,507

Premises and equipment, net

1,332,539


1,351,479


1,333,008


1,359,750


1,387,812

Bank owned life insurance

694,370


694,335


695,842


691,445


687,200

Goodwill

5,046,847


5,046,847


5,060,924


5,076,142


5,077,223

Other intangible assets

60,097


70,784


82,840


95,475


107,110

Other real estate owned

17,764


20,600


17,058


21,113


25,817

Other assets

1,148,883


1,318,392


1,323,212


878,743


940,190

Total assets

$ 85,475,741


$  83,152,427


$   79,192,189


$ 75,747,100


$ 74,957,227

Liabilities:










Deposits:










Noninterest bearing

$ 18,599,702


$  17,169,412


$   16,979,235


$ 16,321,003


$ 16,322,699

Interest bearing

44,300,979


44,020,304


43,291,723


41,797,403


40,762,511

Total deposits

62,900,681


61,189,716


60,270,958


58,118,406


57,085,210

FHLB and other borrowings

4,919,141


4,809,843


4,551,050


3,958,497


4,257,587

Federal funds purchased and securities sold under agreements to repurchase

909,683


1,129,503


809,053


864,263


957,378

Other short-term borrowings

3,377,694


2,545,724


246,835


15,705


28,822

Accrued expenses and other liabilities

1,206,612


1,474,067


1,387,240


940,691


898,396

Total liabilities

73,313,811


71,148,853


67,265,136


63,897,562


63,227,393

Shareholder's Equity:










Common stock — $0.01 par value

2,230


2,230


2,230


2,230


2,230

Surplus

15,278,877


15,285,991


15,333,316


15,383,867


15,383,954

Retained deficit

(3,121,071)


(3,262,181)


(3,364,389)


(3,507,192)


(3,614,263)

Accumulated other comprehensive loss

(27,654)


(51,357)


(73,846)


(58,295)


(71,547)

Total BBVA Compass Bancshares, Inc. shareholder's equity

12,132,382


11,974,683


11,897,311


11,820,610


11,700,374

Noncontrolling interests

29,548


28,891


29,742


28,928


29,460

Total shareholder's equity

12,161,930


12,003,574


11,927,053


11,849,538


11,729,834

Total liabilities and shareholder's equity

$ 85,475,741


$  83,152,427


$   79,192,189


$ 75,747,100


$ 74,957,227

 

BBVA COMPASS BANCSHARES, INC.

INCOME STATEMENT (Unaudited)

(Dollars in Thousands)












Three Months Ended


2015


2014


March 31


December 31


September 30


June 30


March 31

Interest income:










Interest and fees on loans

$ 543,842


$       547,309


$        509,766


$ 520,516


$ 508,506

Interest on investment securities available for sale

48,208


45,786


48,363


48,253


49,090

Interest on investment securities held to maturity

6,702


6,860


6,862


7,003


7,246

Interest on federal funds sold, securities purchased under agreements to resell and interest bearing deposits

996


566


47


42


47

Interest on trading account assets

9,614


5,696


933


578


516

Total interest income

609,362


606,217


565,971


576,392


565,405

Interest expense:










Interest on deposits

69,653


71,034


66,763


60,901


53,216

Interest on FHLB and other borrowings

19,106


20,010


16,399


16,184


16,364

Interest on federal funds purchased and securities sold under agreements to repurchase

1,326


918


447


437


500

Interest on other short-term borrowings

10,248


4,802


394


96


26

Total interest expense

100,333


96,764


84,003


77,618


70,106

Net interest income

509,029


509,453


481,968


498,774


495,299

Provision for loan losses

42,031


19,914


3,869


45,252


37,266

Net interest income after provision for loan losses

466,998


489,539


478,099


453,522


458,033

Noninterest income:










Service charges on deposit accounts

53,284


56,799


57,537


54,958


53,391

Card and merchant processing fees

26,183


26,432


28,682


28,473


24,304

Retail investment sales

25,146


25,424


27,645


28,844


26,564

Investment banking and advisory fees

30,334


24,228


18,750


22,280


22,196

Asset management fees

8,096


10,813


10,666


10,535


10,758

Corporate and correspondent investment sales

6,259


7,619


5,388


7,972


8,656

Mortgage banking income

8,159


5,627


8,498


6,150


4,276

Bank owned life insurance

4,788


5,809


4,603


4,237


3,967

Investment securities gains, net

32,832


5,434


9,710


21,464


16,434

Gain (loss) on prepayment of FHLB and other borrowings

(2,549)



143



(458)

Other

56,738


68,033


54,809


50,532


49,240

Total noninterest income

249,270


236,218


226,431


235,445


219,328

Noninterest expense:










Salaries, benefits and commissions

259,262


281,065


265,334


263,301


262,569

FDIC indemnification expense

28,789


34,313


18,748


30,370


31,618

Professional services

46,559


59,027


52,463


49,790


46,399

Equipment

58,141


58,401


56,355


55,469


53,738

Net occupancy

39,280


39,865


39,357


40,200


38,957

Marketing

10,088


5,894


11,587


9,986


8,524

Communications

5,767


6,003


5,964


6,294


6,347

Amortization of intangibles

10,687


24,556


12,635


13,631


12,534

Other

64,146


74,357


70,699


76,221


58,181

Total noninterest expense

522,719


583,481


533,142


545,262


518,867

Net income before income tax expense

193,549


142,276


171,388


143,705


158,494

Income tax expense

51,782


39,864


27,770


36,130


43,567

Net income

141,767


102,412


143,618


107,575


114,927

Less: net income attributable to noncontrolling interests

657


204


815


504


453

Net income attributable to shareholder

$ 141,110


$       102,208


$        142,803


$ 107,071


$ 114,474

 

Logo - http://photos.prnewswire.com/prnh/20140825/139263

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bbva-compass-bancshares-inc-reports-first-quarter-2015-earnings-of-141-million-300074221.html

SOURCE BBVA Compass Bancshares, Inc.

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