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BBVA Compass Bank (NYSE: BBVA, MAD: BBVA), formerly known as Compass Bank 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 Compass is owned by Banco Bilbao Vizcaya Argentaria (BBVA), one of the largest banks in Spain. BBVA Compass 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 Compass is broken into three major divisions – commercial banking, retail banking, and wealth management. Compass Bank offers 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.
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