Compass Bank of Birmingham, Alabama was acquired by Spain's BBVA in 2007 and operated as BBVA Compass for over a decade, offering checking, savings, and CD products across the Sunbelt. In 2019 the U.S. bank was rebranded BBVA USA.
What happened to BBVA Compass?
Last reviewed August 2026
BBVA Compass was acquired by PNC in 2021 and now operates as PNC Bank.
★★★★★ 4/5
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From Compass Bank to BBVA Compass to BBVA USA
June 2021: PNC acquires BBVA USA
On June 1, 2021, The PNC Financial Services Group completed its acquisition of BBVA USA Bancshares, including BBVA USA. Branches and accounts were converted to PNC Bank, ending the BBVA retail brand in the United States.
What it means for old BBVA Compass CDs and accounts
BBVA Compass and BBVA USA deposit accounts, including CDs, became PNC Bank accounts in the conversion. If you're shopping to replace a matured BBVA CD, today's top tracked CD APYs are on the RateZip Rate Index, updated daily.
Original profile
About
BBVA (NYSE: BBVA, MAD: BBVA), formerly known as Compass Bank and then later as BBVA Compass, is one of the largest banks in the United States of America. In fact, the bank's nearly $70 billion in assets ranked 34th in the most recent Federal Reserve Board report. BBVA stands for Banco Bilbao Vizcaya Argentaria (BBVA), one of the largest banks in Spain. BBVA has its headquarters in Birmingham, Alabama, and most of its nearly 700 branch locations are in states in America's Sunbelt - Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. The company has been part of both the Dow Jones Select and the S&P 500.
The original Compass Bank was founded in 1964 under the name Central Bank and Trust Company. It later became Central Bank of the South and then Compass Bank in the 1980s. In 2007, the Spanish Bank BBVA bought Compass Bank, forming BBVA Compass. BBVA's history goes back even further, as it was founded in 1857. BBVA is a dominant player in banking in both Spain and Mexico, maintains a strong presence in South America and the US Sunbelt, and maintains a presence in the UK, China, Japan, and other countries.
BBVA is broken into three major divisions - commercial banking, retail banking, and wealth management. They offer a full suite of financial products, including checking / savings accounts, certificates of deposit (CDs), home loans (both purchase and refinance), and home equity lines of credit and loans.
Here are few other interesting facts about BBVA Compass. As of 2013, it operates the second largest bank in Alabama, the fourth largest in Texas, and the fifth largest in Arizona. The company is also heavily involved with professional sports. It's one of the National Basketball Association's (NBA) largest corporate partners, sponsors college football's BBVA Compass Bowl, and owns the naming rights to BBVA Compass Stadium, the home of Major League Soccer's (MLS) Houston Dynamo.
This bank profile is not an endorsement or advertisement for the bank's products and services. RateZip is an independent publisher of bank information.
RateZip Rate Index
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| CIT Bank | 4.10% | 2026-08-24 |
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Highest published savings APYs tracked by RateZip as of 2026-08-24 12:20 ET. See the full RateZip Rate Index →
Frequently asked questions
What happened to BBVA Compass CD rates and accounts?
BBVA USA (formerly BBVA Compass) was acquired by PNC on June 1, 2021, and accounts were converted to PNC Bank. Existing CDs carried over; new CDs are opened through PNC.
Is BBVA still a bank in the US?
Not in retail banking. The U.S. retail operations were sold to PNC in 2021. BBVA remains a major bank in Spain, Mexico, and other markets.
Sources
- https://www.prnewswire.com/news-releases/pnc-completes-acquisition-of-bbva-usa-301302917.html - PNC press release, June 1, 2021: PNC completed its acquisition of BBVA USA Bancshares, Inc., including banking subsidiary BBVA USA.
- https://investor.pnc.com/news-events/financial-press-releases/detail/44/pnc-completes-acquisition-of-bbva-usa - PNC investor relations copy of the June 1, 2021 completion announcement; BBVA USA customers were converted to PNC in October 2021.