BBVA USA Bancshares, Inc. - FORM 8-K - EX-99.1 - EXHIBIT 99.1

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8-K - 8-K - BBVA USA Bancshares, Inc.	bbvacompass033120158k.htm

Exhibit 99.1

First quarter earnings increase 23 percent from prior year levels

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


◦	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 - 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.

“Despite the challenging interest rate environment, BBVA Compass delivered strong results highlighted by robust balance sheet growth and balanced revenue growth,” said Manolo Sánchez, 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,” Sánchez said. “Clearly these efforts, by design, have aided our ability to expand our client base while further enhancing our relationships with existing commercial customers.”

Sánchez 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,” Sánchez 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.



Contact details:
Christina Anderson		Ed Bilek
Corporate Communications		Investor Relations
Tel. 205.524.5214		Tel. 205.297.3331
christina.anderson@bbva.com		ed.bilek@bbva.com

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 (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.

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
[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)

	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

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
[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.



	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 [a]	163.56			173.06			164.85			170.73			149.84
Allowance for loan losses as a % of nonperforming assets [a]	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] 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
Gain (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) (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	$	—



	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	$	—



	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) (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 STATEMENTS (Unaudited) (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

BBVA USA Bancshares, Inc. - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - April 29, 2015

Attached files

BBVA USA Bancshares, Inc. Reports