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Quick Facts

Phone Number:
1-800-266-727
Bank Website:
bbvacompass.com
Assets Managed:
$67.76 Billion
Headquarters:
Birmingham, AL
Date Established:
March 2nd, 1964
Equal Housing Lender / Member FDIC
Compass Bank

Profile Information:

Bank Headquarters: Birmingham, AL 35233
Stock Symbol: FITB
CEO : José María García Meyer-Dohner

Compass Bank is the principle banking subsidiary of Compass Bancshares. The bank trades under the name of BBVA Compass which is South-western financial holding company.

Compass has a total of $47B assets and is one of the nation’s largest banks, currently making them the 15th largest U.S. commercial bank. The Company was added to S&P 500 index and the Dow Jones Select Dividend Index in 2004. Compass Bank and BBVA Compass cater to 48 million clients, 7,600 branches and approximately 105,000 employees in more than 30 countries, although Compass Bank is found exclusively in the United States.

The banks financial returns for the year ending in 2008 were very promising given the state of the global financial market; the bank reported revenues of over $4B in the year which was impressive in comparison to much larger banks which required federal bailout money to stop them from collapsing, just as the Lehmann Brothers. This may have something to do with the bank’s parent company being situated out of the American market in Europe which reported massive financial returns for the same time frames.

Despite its European owners the banks roots are firmly situated in the United States when in 1987 the bank was created through the acquisition of the First National Bank of Crosby in Houston. This purchase came at a time when the Texan banking scene was struggling due to a collapse in the price of crude oil and the real estate market. Since then the bank managed to grow by focusing on four niche banking categories which were individuals, small-to-medium corporations, home mortgage lending, and income-producing real estate, with a bigger emphasis on the wealthier customers that it was attracting at the time.

At the turn of the 21st century Compass Bank faced a period of slow growth despite the strengthening American financial industry. The bank suffered in relation to other banks in the same industry and area as itself.

More recently Compass Bank has seen that corporate responsibility is one of the largest drivers of innovation in the financial market and as such has tried to organize its products and services through financing sustainable projects and developing new types of business models. This forward looking approach to the industry may help the bank acquire a larger share in the North American banking market. The company’s main competitors are The Bank of America, Regions Financial, and SunTrust, all of which have has mixed financial reports over the last few years. Given the state of the financial industry and the wounded larger banks, the following years could be time for a smaller more mobile bank to try and take over different market groups.

Compass Bank has received some good press recently too with its charity drive to help give back to the communities in which the banks operate. The company has sponsored organizations in these areas and has said to be devoted to helping the people and communities of the United States.







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Recent Banking Questions

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