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BBVA Compass reports earnings of $467 million for the full-year of 2014, up 12% from prior year

2015-02-04 09:43 ET - News Release

- Fourth quarter earnings increase 49% from prior year
- Total loans end the year at $57.5 billion, up 13% from prior year levels; funded loan originations up 8% to $17.7 billion driven by strong commercial demand
- Total deposits increase 12% to $61.2 billion, driven by a 16% increase in interest bearing transaction accounts
- Key credit quality metrics show continued improvement; nonperforming asset ratio drops to 0.73% from 1.09% and net charge-off ratio declines to 0.22%
- Diversification of fee-based businesses spurs 7% increase in noninterest income; focus on improving efficiency and costs controls results in 1% decline in noninterest expenses

HOUSTON, Feb. 4, 2015 /PRNewswire/ -- BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $467 million for the full-year of 2014, a 12 percent increase compared to $418 million earned for the full-year of 2013. Return on average assets and return on average tangible equity1 for the twelve months of 2014 were 0.60 percent and 7.03 percent, respectively.

BBVA Compass corporate logo

Net income attributable to shareholder for the fourth quarter of 2014 was $102 million, a 49 percent increase from the $69 million earned during the fourth quarter of 2013. Return on average assets and return on average tangible equity1 for the fourth quarter of 2014 were 0.49 percent and 5.97 percent, respectively.

"BBVA Compass delivered outstanding financial results in 2014 despite the prolonged low-interest rate environment, which continues to impede revenue growth across our industry," said Manolo Sanchez, chairman and CEO of BBVA Compass. "We delivered robust balance sheet growth with double-digit increases in both total loans and total deposits. We funded a record $17.7 billion of new customer loans, with strong commercial demand driving loan growth. What's more, our focus on deposits met with continued success as total deposits increased $6.8 billion during the year, led by a 16 percent increase in interest bearing transaction accounts."

Sanchez noted that balance sheet growth did not come at the expense of maintaining sound risk and underwriting standards. Credit quality metrics showed further improvement as nonperforming assets as a percentage of loans, other real estate and other repossessed assets dropped to 0.73 percent and net charge-offs as a percentage of average loans declined to 22 basis points compared to 44 basis points for the full-year of 2013.

"While compressed spreads tempered the positive impact of balance sheet growth on net interest income, efforts to further diversify and expand fee-based businesses resulted in a 7 percent increase in noninterest income," Sanchez said. "We also did a good job curbing costs, as disciplined expense management led to a 1 percent decrease in total noninterest expenses."

Total shareholder's equity ended the fourth quarter of 2014 at $12.0 billion, a 4 percent increase from $11.5 billion at the end of the fourth quarter of 2013. Accordingly, regulatory capital ratios remain significantly above "well-capitalized" guidelines.

During the fourth quarter, BBVA Compass announced a new $11 billion community development program designed to support low- and moderate-income individuals and neighborhoods and boost economic development across all communities in the markets it serves.

Over the next five years, the bank intends to originate $2.1 billion in mortgage loans to low- and moderate-income (LMI) homebuyers and in LMI neighborhoods, $6.2 billion for small business lending, $1.8 billion for community development lending, and make $900 million in community development investments. The bank also plans to unveil new delivery channels, products and services for LMI individuals in 2015.

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 lead 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 has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and in 2014 ranked 12th nationally in total SBA loan volume. BBVA Compass earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. 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 (NYSE: BBVA) (MAD: 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.

Forward-Looking Statements

Certain statements in this press release may contain forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. 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. 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 28, 2014, as updated by our subsequent SEC filings.

 


BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in thousands)






















Three Months Ended 
 December 31,


%


Years Ended 
 December 31,


%









2014


2013


 Change 


2014


2013


 Change 







EARNINGS SUMMARY



















Net interest income


$       509,453


$         507,509



$      1,985,494


$      2,042,681


(3)







Noninterest income [a]


230,784


191,074


21


864,695


801,644


8







Total revenue [a]


740,237


698,583


6


2,850,189


2,844,325








Investment securities gain (loss), net


5,434


(1,659)


 NM 


53,042


31,371


69







Gain (loss) on prepayment of FHLB advances




 NM 


(315)


21,775


 NM 







Provision for loan losses


19,914


26,160


(24)


106,301


107,546


(1)







Noninterest expense


583,481


576,671


1


2,180,752


2,199,175


(1)







Pretax income


142,276


94,093


51


615,863


590,750


4







Income tax expense


39,864


24,787


61


147,331


170,820


(14)







Net income


102,412


69,306


48


468,532


419,930


12







Net income attributable to noncontrolling interests


204


486


(58)


1,976


2,094


(6)







Net income attributable to shareholder


$       102,208


$          68,820


49


$         466,556


$         417,836


12


























SELECTED RATIOS



















Return on average assets


0.49 %


0.38 %




0.60 %


0.60 %









Return on average tangible equity [b]


5.97


4.31




7.03


6.77









Average common equity to average assets


14.52


15.94




15.28


16.12









Average loans to average total deposits


92.31


93.96




93.18


91.26









Tier I capital ratio [c]


10.94


11.62




10.94


11.62









Tier 1 common capital ratio [b] [c]


10.74


11.39




10.74


11.39









Total capital ratio [c]


12.81


13.74




12.81


13.74









Leverage ratio [c]


9.09


9.87




9.09


9.87




































































Average for Three Months




Average for Year Ended




Ending Balance





Ended December 31,


%


Ended December 31,


%


December 31,


%



2014


2013


 Change 


2014


2013


 Change 


2014


2013


 Change 

BALANCE SHEET HIGHLIGHTS















Total loans


$   56,419,150


$    50,506,422


12


$    54,423,885


$    47,959,849


13


$    57,526,600


$   50,814,125


13

Total investment securities


11,023,444


9,921,998


11


10,541,348


10,100,601


4


11,585,629


9,832,281


18

Earning assets


69,447,957


60,532,456


15


65,574,287


58,197,813


13


72,344,332


60,726,001


19

Total assets


82,702,903


72,099,576


15


77,520,755


70,309,637


10


83,152,427


71,965,476


16

Noninterest bearing demand deposits


17,473,984


15,492,506


13


16,633,240


14,586,725


14


17,169,412


15,377,844


12

Interest bearing transaction accounts


30,695,786


26,298,335


17


28,896,496


25,961,989


11


31,176,846


26,969,845


16

Total transaction accounts


48,169,770


41,790,841


15


45,529,736


40,548,714


12


48,346,258


42,347,689


14

Total deposits


61,116,755


53,755,937


14


58,407,635


52,553,744


11


61,189,716


54,437,490


12

Shareholder's equity


12,005,933


11,491,753


4


11,841,999


11,337,388


4


12,003,574


11,487,759


4




















[a]  Excludes net gain on sales of investment securities and gain (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.

NM = Not meaningful

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)








2014


2013



December 31


September 30


June 30


March 31


December 31

NONPERFORMING ASSETS











Nonaccrual loans


$     322,654


$      344,937


$  341,807


$  388,597


$     441,718

Loans 90 days or more past due [a]


71,454


76,196


76,219


83,490


82,814

TDRs 90 days or more past due


1,722


991


629


204


1,317

Total nonperforming loans [b]


395,830


422,124


418,655


472,291


525,849

Other real estate owned, net (OREO)


20,600


17,058


21,113


25,817


23,228

Other repossessed assets


3,920


3,618


2,796


3,313


3,360

Total nonperforming assets


$     420,350


$      442,800


$  442,564


$  501,421


$     552,437












TDRs accruing and past due less than 90 days


$     161,261


$      170,789


$  177,630


$  202,075


$     208,391












Covered loans [c]


495,190


580,756


613,152


701,158


734,190

Covered nonperforming loans [c]


48,071


56,221


59,331


63,664


62,038

Covered nonperforming assets [c]


51,989


59,609


62,824


67,500


66,151












Total nonperforming loans as a % of loans


0.69 %


0.76 %


0.77 %


0.89 %


1.03 %

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


0.61


0.67


0.67


0.78


0.93

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


0.73


0.80


0.81


0.95


1.09

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


0.65


0.70


0.71


0.83


0.97














Three Months Ended



2014


2013



December 31


September 30


June 30


March 31


December 31

ALLOWANCE FOR LOAN LOSSES











Balance at beginning of period


$     695,878


$      714,760


$  707,665


$  700,719


$     717,937

Net charge-offs (NCO)


30,751


22,751


38,157


30,320


43,378

Provision for loan losses


19,914


3,869


45,252


37,266


26,160

Balance at end of period


$     685,041


$      695,878


$  714,760


$  707,665


$     700,719












Allowance for loan losses as a % of total loans


1.19 %


1.27 %


1.32 %


1.34 %


1.38 %

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


173.06


164.85


170.73


149.84


133.25

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


162.97


157.15


161.50


141.13


126.84












Annualized as a % of average loans:











NCO - QTD


0.22


0.16


0.28


0.24


0.34

NCO - YTD


0.22


0.23


0.26


0.24


0.44

[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 December 31,



2014


2013



Average Balance


Income/ Expense


Yield/ Rate


Average Balance


Income/ Expense


Yield/ Rate

YIELD/RATE ANALYSIS













(Taxable Equivalent Basis)













Assets













Earning assets:













Loans


$     56,419,150


$    561,422


3.95 %


$    50,506,422


$    535,388


4.21 %

Investment securities available for sale [a]


9,583,937


47,503


1.97


8,352,631


46,740


2.22

Investment securities held to maturity


1,394,926


9,835


2.80


1,535,107


10,720


2.77

Other earning assets


2,005,363


6,262


1.24


104,036


615


2.35

Total earning assets [a]


69,403,376


625,022


3.57


60,498,196


593,463


3.89

Allowance for loan losses


(692,839)






(717,913)





Unrealized gain (loss) on securities available for sale


44,581






34,260





Other assets


13,947,785






12,285,033





Total assets


$     82,702,903






$    72,099,576


















Liabilities and Shareholders' Equity













Interest bearing liabilities:













Interest bearing demand deposits


$      7,311,384


$       2,920


0.16


$      7,240,082


$       2,940


0.16

Savings and money market accounts


23,384,402


27,750


0.47


19,058,253


15,779


0.33

Certificates and other time deposits


12,783,269


40,280


1.25


11,847,529


33,099


1.11

Foreign office deposits


163,716


84


0.20


117,567


61


0.21

  Total interest bearing deposits


43,642,771


71,034


0.65


38,263,431


51,879


0.54

FHLB and other borrowings


4,799,343


20,010


1.65


4,508,823


17,205


1.51

Federal funds purchased and securities sold under agreement to repurchase


1,084,679


918


0.34


964,386


505


0.21

Other short-term borrowings


1,448,610


4,802


1.32


12,916


31


0.95

Total interest bearing liabilities


50,975,403


96,764


0.75


43,749,556


69,620


0.63

Noninterest bearing deposits


17,473,984






15,492,506





Other noninterest bearing liabilities


2,247,583






1,365,761





Total liabilities


70,696,970






60,607,823





Shareholder's equity


12,005,933






11,491,753





Total liabilities and shareholder's equity


$     82,702,903






$    72,099,576


















Net interest income/ net interest spread




528,258


2.82 %




523,843


3.26 %

Net yield on earning assets






3.02 %






3.44 %














Total taxable equivalent adjustment




18,805






16,334
















Net interest income




$    509,453






$    507,509



[a] Excludes adjustment for market valuation.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)
















Years Ended December 31,



2014


2013



Average Balance


Income/ Expense


Yield/ Rate


Average Balance


Income/ Expense


Yield/ Rate

YIELD/RATE ANALYSIS













(Taxable Equivalent Basis)













Assets













Earning assets:













Loans


$  54,423,885


$  2,139,429


3.93 %


$  47,959,849


$  2,149,731


4.48 %

Investment securities available for sale [a]


9,052,396


198,732


2.20


8,462,224


185,624


2.19

Investment securities held to maturity


1,447,636


40,145


2.77


1,539,945


43,467


2.82

Other earning assets


609,054


8,434


0.01


137,363


3,171


0.02

Total earning assets [a]


65,532,971


2,386,740


3.64


58,099,381


2,381,993


4.10

Allowance for loan losses


(703,902)






(752,801)





Unrealized gain (loss) on securities available for sale


41,316






98,432





Other assets


12,650,370






12,864,625





Total assets


$  77,520,755






$  70,309,637


















Liabilities and Shareholders' Equity













Interest bearing liabilities:













Interest bearing demand deposits


$    7,280,418


11,986


0.16


$    6,824,450


11,377


0.17

Savings and money market accounts


21,616,078


87,672


0.41


19,137,539


71,860


0.38

Certificates and other time deposits


12,745,974


151,997


1.19


11,886,386


128,600


1.08

Foreign office deposits


131,925


259


0.20


118,644


263


0.22

  Total interest bearing deposits


41,774,395


251,914


0.60


37,967,019


212,100


0.56

FHLB and other borrowings


4,254,352


68,957


1.62


4,269,521


66,275


1.55

Federal funds purchased and securities sold under agreement to repurchase


935,439


2,302


0.25


979,759


2,082


0.21

Other short-term borrowings


385,461


5,318


1.38


12,739


118


0.93

Total interest bearing liabilities


47,349,647


328,491


0.69


43,229,038


280,575


0.65

Noninterest bearing deposits


16,633,240






14,586,725





Other noninterest bearing liabilities


1,695,869






1,156,486





Total liabilities


65,678,756






58,972,249





Shareholder's equity


11,841,999






11,337,388





Total liabilities and shareholder's equity


$  77,520,755






$  70,309,637


















Net interest income/ net interest spread




2,058,249


2.95 %




2,101,418


3.45 %

Net yield on earning assets






3.14 %






3.62 %














Total taxable equivalent adjustment




72,755






58,737
















Net interest income




$  1,985,494






$  2,042,681



[a] Excludes adjustment for market valuation.

 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)




















Year Ended




Three Months Ended



December 31,


%


2014


2013



2014


2013


 Change 


December 31


September 30


June 30


March 31


December 31

NONINTEREST INCOME

















Service charges on deposit accounts


$     222,685


$     221,413


1


$       56,799


$        57,537


$    54,958


$    53,391


$       56,812

Card and merchant processing fees


107,891


102,189


6


26,432


28,682


28,473


24,304


25,320

Retail investment sales


108,477


97,276


12


25,424


27,645


28,844


26,564


25,552

Investment banking and advisory fees


87,454


47,604


84


24,228


18,750


22,280


22,196


13,958

Asset management fees


42,772


40,939


4


10,813


10,666


10,535


10,758


9,796

Corporate and correspondent investment sales


29,635


35,674


(17)


7,619


5,388


7,972


8,656


8,720

Mortgage banking income


24,551


35,399


(31)


5,627


8,498


6,150


4,276


3,178

Bank owned life insurance


18,616


17,747


5


5,809


4,603


4,237


3,967


4,846

Other


222,614


203,403


9


68,033


54,809


50,532


49,240


42,892



864,695


801,644


8


230,784


216,578


213,981


203,352


191,074

Investment securities gains, net


53,042


31,371


69


5,434


9,710


21,464


16,434


(1,659)

Gain (loss) on prepayment of FHLB and other borrowings


(315)


21,775


 NM 



143



(458)


Total noninterest income


$     917,422


$     854,790


7


$     236,218


$      226,431


$  235,445


$  219,328


$     189,415


















NONINTEREST EXPENSE

















Salaries, benefits and commissions


$  1,072,269


$  1,005,244


7


$     281,065


$      265,334


$  263,301


$  262,569


$     261,643

FDIC indemnification expense


115,049


267,159


(57)


34,313


18,748


30,370


31,618


55,453

Professional services


207,679


191,402


9


59,027


52,463


49,790


46,399


58,204

Equipment


223,963


208,059


8


58,401


56,355


55,469


53,738


59,070

Net occupancy


158,379


157,737



39,865


39,357


40,200


38,957


40,115

Marketing


35,991


37,352


(4)


5,894


11,587


9,986


8,524


9,212

Communications


24,608


25,965


(5)


6,003


5,964


6,294


6,347


7,392

Amortization of intangibles


50,856


60,691


(16)


24,556


12,635


13,631


12,534


14,305

Other


291,958


245,566


19


74,357


70,699


76,221


58,181


71,277

Total noninterest expense


$  2,180,752


$  2,199,175


(1)


$     583,481


$      533,142


$  545,262


$  518,867


$     576,671


















NM = Not meaningful

















 

BBVA COMPASS BANCSHARES, INC.

(Unaudited)

(Dollars in Thousands)












Three Months Ended December 31,


Years Ended December 31,



2014


2013


2014


2013

NON-GAAP RECONCILIATION


















Computation of Average Tangible Equity:









Total stockholder's equity


$          12,005,933


$          11,491,753


$          11,841,999


$          11,337,388

Less: Goodwill and other intangibles


5,198,332


5,116,852


5,175,940


5,132,741

Tangible common equity


$            6,807,601


$            6,374,901


$            6,666,059


$            6,204,647










Computation of Tier 1 Tangible Common Equity:









Total stockholder's equity


$          11,974,683


$          11,458,752


$          11,974,683


$          11,458,752

Less: Goodwill and other intangibles


5,153,119


5,110,834


5,153,119


5,110,834

Tier 1 tangible common equity


$            6,821,564


$            6,347,918


$            6,821,564


$            6,347,918

 

BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)


















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


$                        -


















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


$                        -


BBVA COMPASS BANCSHARES, INC.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)


















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


$                        -


















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.

SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited)

(Dollars in Thousands)


















At or Quarter Ended December 31, 2013


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

$                          9,485


$                          6,111


$                 2,212


$       128,231


$            25,548


$       20,037,622


$       20,209,209


$              10,205

Real estate – construction

4,258


1,862


240


14,183


3,801


1,712,004


1,736,348


(43)

Commercial real estate –  mortgage

9,521


4,869


797


129,672


59,727


8,901,743


9,106,329


5,980

Residential real estate – mortgage

48,597


22,629


2,460


102,904


74,236


12,456,053


12,706,879


8,608

Equity lines of credit

12,230


6,252


5,109


31,431


-


2,181,345


2,236,367


7,039

Equity loans

7,630


3,170


1,167


20,447


42,850


568,804


644,068


2,341

Credit card

5,955


4,676


10,277


-


-


639,165


660,073


7,578

Consumer – direct

8,736


3,000


2,402


540


91


501,803


516,572


3,732

Consumer – indirect

24,945


5,276


1,540


1,523


-


2,083,697


2,116,981


3,494

Covered loans

8,254


4,171


56,610


5,428


3,455


656,272


734,190


(5,556)

Total loans

$                     139,611


$                        62,016


$               82,814


$       434,359


$          209,708


$       49,738,508


$       50,667,016


$              43,378

Loans held for sale

$                                 -


$                                 -


$                        -


$            7,359


$                      -


$             139,750


$             147,109


$                        -

 

BBVA COMPASS BANCSHARES, INC.

BALANCE SHEET (Unaudited)

(Dollars in Thousands)












2014


2013


December 31,


September 30,


June 30,


March 31,


December 31,

Assets:










Cash and due from banks

$                  2,764,345


$                  4,643,636


$                  3,232,911


$                  4,257,226


$                  3,563,349

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

624,060


271,898


31,291


16,446


35,111

Cash and cash equivalents

3,388,405


4,915,534


3,264,202


4,273,672


3,598,460

Trading account assets

2,834,397


515,136


356,889


342,963


319,930

Investment securities available for sale

10,237,275


9,326,413


8,972,237


8,533,722


8,313,085

Investment securities held to maturity

1,348,354


1,417,985


1,448,192


1,493,396


1,519,196

Loans held for sale

154,816


190,882


211,879


101,615


147,109

Loans

57,371,784


55,009,233


54,085,793


52,694,172


50,667,016

Allowance for loan losses

(685,041)


(695,878)


(714,760)


(707,665)


(700,719)

Net loans

56,686,743


54,313,355


53,371,033


51,986,507


49,966,297

Premises and equipment, net

1,351,479


1,333,008


1,359,750


1,387,812


1,420,988

Bank owned life insurance

694,335


695,842


691,445


687,200


683,224

Goodwill

5,046,847


5,060,924


5,076,142


5,077,223


4,971,645

Other intangible assets

70,784


82,840


95,475


107,110


109,040

Other real estate owned

20,600


17,058


21,113


25,817


23,228

Other assets

1,318,392


1,323,212


878,743


940,190


893,274

Total assets

$                83,152,427


$                79,192,189


$                75,747,100


$                74,957,227


$                71,965,476

Liabilities:










Deposits:










Noninterest bearing

$                17,169,412


$                16,979,235


$                16,321,003


$                16,322,699


$                15,377,844

Interest bearing

44,020,304


43,291,723


41,797,403


40,762,511


39,059,646

Total deposits

61,189,716


60,270,958


58,118,406


57,085,210


54,437,490

FHLB and other borrowings

4,809,843


4,551,050


3,958,497


4,257,587


4,298,707

Federal funds purchased and securities sold under agreements to repurchase

1,129,503


809,053


864,263


957,378


852,570

Other short-term borrowings

2,545,724


246,835


15,705


28,822


5,591

Accrued expenses and other liabilities

1,474,067


1,387,240


940,691


898,396


883,359

Total liabilities

71,148,853


67,265,136


63,897,562


63,227,393


60,477,717

Shareholder's Equity:










Common stock — $0.01 par value

2,230


2,230


2,230


2,230


2,207

Surplus

15,285,991


15,333,316


15,383,867


15,383,954


15,273,218

Retained deficit

(3,262,181)


(3,364,389)


(3,507,192)


(3,614,263)


(3,728,737)

Accumulated other comprehensive loss

(51,357)


(73,846)


(58,295)


(71,547)


(87,936)

Total BBVA Compass Bancshares, Inc. shareholder's equity

11,974,683


11,897,311


11,820,610


11,700,374


11,458,752

Noncontrolling interests

28,891


29,742


28,928


29,460


29,007

Total shareholder's equity

12,003,574


11,927,053


11,849,538


11,729,834


11,487,759

Total liabilities and shareholder's equity

$                83,152,427


$                79,192,189


$                75,747,100


$                74,957,227


$                71,965,476

 

BBVA COMPASS BANCSHARES, INC.

INCOME STATEMENT (Unaudited)

(Dollars in Thousands)












Three Months Ended


2014


2013


December 31


September 30


June 30


March 31


December 31

Interest income:










Interest and fees on loans

$       547,309


$        509,766


$ 520,516


$ 508,506


$       524,274

Interest on investment securities available for sale

45,786


48,363


48,253


49,090


44,742

Interest on investment securities held to maturity

6,860


6,862


7,003


7,246


7,500

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










566


47


42


47


28

Interest on trading account assets

5,696


933


578


516


585

Total interest income

606,217


565,971


576,392


565,405


577,129

Interest expense:










Interest on deposits

71,034


66,763


60,901


53,216


51,879

Interest on FHLB and other borrowings

20,010


16,399


16,184


16,364


17,205

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

918


447


437


500


505

Interest on other short-term borrowings

4,802


394


96


26


31

Total interest expense

96,764


84,003


77,618


70,106


69,620

Net interest income

509,453


481,968


498,774


495,299


507,509

Provision for loan losses

19,914


3,869


45,252


37,266


26,160

Net interest income after provision for loan losses

489,539


478,099


453,522


458,033


481,349

Noninterest income:










Service charges on deposit accounts

56,799


57,537


54,958


53,391


56,812

Card and merchant processing fees

26,432


28,682


28,473


24,304


25,320

Retail investment sales

25,424


27,645


28,844


26,564


25,552

Investment banking and advisory fees

24,228


18,750


22,280


22,196


13,958

Asset management fees

10,813


10,666


10,535


10,758


9,796

Corporate and correspondent investment sales

7,619


5,388


7,972


8,656


8,720

Mortgage banking income

5,627


8,498


6,150


4,276


3,178

Bank owned life insurance

5,809


4,603


4,237


3,967


4,846

Investment securities gains, net

5,434


9,710


21,464


16,434


(1,659)

Gain (loss) on prepayment of FHLB and other borrowings


143



(458)


Other

68,033


54,809


50,532


49,240


42,892

Total noninterest income

236,218


226,431


235,445


219,328


189,415

Noninterest expense:










Salaries, benefits and commissions

281,065


265,334


263,301


262,569


261,643

FDIC indemnification expense

34,313


18,748


30,370


31,618


55,453

Professional services

59,027


52,463


49,790


46,399


58,204

Equipment

58,401


56,355


55,469


53,738


59,070

Net occupancy

39,865


39,357


40,200


38,957


40,115

Marketing

5,894


11,587


9,986


8,524


9,212

Communications

6,003


5,964


6,294


6,347


7,392

Amortization of intangibles

24,556


12,635


13,631


12,534


14,305

Other

74,357


70,699


76,221


58,181


71,277

Total noninterest expense

583,481


533,142


545,262


518,867


576,671

Net income before income tax expense

142,276


171,388


143,705


158,494


94,093

Income tax expense

39,864


27,770


36,130


43,567


24,787

Net income

102,412


143,618


107,575


114,927


69,306

Less: net income attributable to noncontrolling interests

204


815


504


453


486

Net income attributable to shareholder

$       102,208


$        142,803


$ 107,071


$ 114,474


$         68,620

 

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SOURCE BBVA Compass Bancshares, Inc.

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