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.	bbvacompass063020158k.htm

Exhibit 99.1

Second quarter earnings increase 27 percent from prior year levels

BBVA Compass Bancshares, Inc. reports earnings of $277 million for first half of 2015


◦	Total loans end the quarter at $60.2 billion, up 11 percent from prior year levels


◦	Total deposits increase 8 percent to $62.5 billion, spurred by a 17 percent increase in noninterest bearing deposits


◦	Total revenue increases 3 percent, fueled by a 9 percent increase in income from fee-based businesses; disciplined expense management drives 2 percent decline in expenses


◦	Key credit quality metrics remain healthy; net charge-off ratio at 18 basis points, nonperforming loan ratio at 77 basis points and coverage ratio strong at 155 percent

HOUSTON, July 31, 2015 - BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $277 million for the first six months of 2015, a 25 percent increase compared to $222 million earned during the first six months of 2014. Return on average assets and return on average tangible equity¹ for the first six months of 2015 were 0.65 percent and 7.99 percent, respectively.

Net income attributable to shareholder for the second quarter of 2015 was $136 million, a 27 percent increase from the $107 million earned during the second quarter of 2014. Return on average assets and return on average tangible equity¹ for the second quarter of 2015 were 0.62 percent and 7.74 percent, respectively.

“BBVA Compass delivered strong results highlighted by robust balance sheet growth and positive revenue generation,” said Manolo Sánchez, chairman and CEO of BBVA Compass. “Strong commercial activity was the driver behind the 11 percent increase in total loans while total deposits increased eight percent, spurred by a 17 percent increase in noninterest bearing demand deposits.”

“Moreover, this growth reflects the tremendous transformation at BBVA Compass that has allowed us to expand our capabilities, while simultaneously providing our customers the real-time solutions they desired,” Sánchez said. “Digital change is coming to the banking industry, just as it has to many others, and we are committed to being at the forefront, serving a broader array of clients with a broader array of banking solutions.”

Total revenue increased three percent as both net interest income and noninterest income posted positive results. Net interest income increased one percent from prior year levels while income from fee-based businesses grew nine percent. At the same time, expenses were well contained as noninterest expense declined two percent.

Sánchez noted that strong balance sheet growth occurred while maintaining sound risk standards. Net charge-offs as a percentage of average loans at 18 basis points for the first half of 2015 are at historical lows, while the ratio of nonperforming loans to total loans at 77 basis points is unchanged from year ago levels. At the same time, the coverage ratio of nonperforming loans remains strong at 155 percent.

“All of our portfolios continue to perform well and within our expectations, including our energy portfolio,” Sánchez said. “Energy represents less than six percent of our total loans outstanding and is well-diversified between oil and gas. While energy prices at current levels present a challenge to the energy sector, at this point we have not seen any deterioration in our portfolio that gives us undue concern.”

“Equally important, energy companies overall are proactively managing their financial position to adjust to this period of sustained low energy prices. Having been in this business since 1994, we believe our seasoned, in-house team of lenders and engineers have built a conservatively underwritten and well-collateralized portfolio designed to withstand the various cycles experienced by this sector.”

Total shareholder’s equity ended the second quarter of 2015 at $12.2 billion, a three percent increase from $11.8 billion at the end of the second quarter of 2014. Each of the company’s regulatory capital ratios remain significantly above ‘well-capitalized’ guidelines.

During the second quarter BBVA Compass launched BBVA Compass ClearChoice Free Checking, the first product to roll out under the bank’s new “banking on a brighter future” tagline. The account features no monthly service charge, no minimum balance requirements, unlimited check writing, complimentary online and mobile banking with bill pay, mobile alerts and other features.

BBVA Compass also announced the launch of BBVA Wallet, a digital wallet that gives customers a convenient way to monitor and safeguard their BBVA Compass credit and debit cards. BBVA Wallet provides customers a real-time view of their card transactions and the ability to temporarily or permanently deactivate lost or stolen credit cards. The service is available as an app for both iPhone and Android devices.

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 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 bbva.com.

On April 15, 2015, BBVA filed its annual report on 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 June 30,						%		Six Months Ended June 30,						%
	2015			2014			Change		2015			2014			Change
EARNINGS SUMMARY
Net interest income	$	491,982		$	498,774		(1	)	$	1,001,011		$	994,073		1
Noninterest income [a]	234,739			213,981			10		453,726			417,333			9
Total revenue [a]	726,721			712,755			2		1,454,737			1,411,406			3
Investment securities gain, net	27,399			21,464			28		60,231			37,898			59
Loss on prepayment of FHLB advances	(3,569		)	—			NM		(6,118		)	(458		)	NM
Provision for loan losses	46,149			45,252			2		88,180			82,518			7
Noninterest expense	519,636			545,262			(5	)	1,042,355			1,064,129			(2	)
Pretax income	184,766			143,705			29		378,315			302,199			25
Income tax expense	48,116			36,130			33		99,898			79,697			25
Net income	136,650			107,575			27		278,417			222,502			25
Net income attributable to noncontrolling interests	590			504			17		1,247			957			30
Net income attributable to shareholder	$	136,060		$	107,071		27		$	277,170		$	221,545		25

SELECTED RATIOS
Return on average assets	0.62		%	0.57		%			0.65		%	0.60		%
Return on average tangible equity [b]	7.74			6.52					7.99			6.85
Average common equity to average assets	13.92			15.56					14.08			15.69
Average loans to average total deposits	95.41			93.7					95.04			93.89
Tier I capital ratio [c]	10.59			11.27					10.59			11.27
Total capital ratio [c]	13.24			13.34					13.24			13.34
Leverage ratio [c]	8.74			9.68					8.74			9.68
[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					Average for Six Months					Ending Balance
	Ended June 30,				%	Ended June 30,				%	June 30,				%
	2015		2014		Change	2015		2014		Change	2015		2014		Change
BALANCE SHEET HIGHLIGHTS
Total loans	$	59,746,217	$	53,924,258	11	$	59,282,211	$	52,939,163	12	$	60,202,842	$	54,297,672	11
Total investment securities	11,536,999		10,342,192		12	11,461,944		10,269,762		12	11,767,559		10,420,429		13
Earning assets	76,072,410		64,375,186		18	74,886,131		63,316,324		18	77,170,603		64,864,449		19
Total assets	87,865,950		76,004,941		16	86,484,229		74,689,351		16	88,470,749		75,747,100		17
Noninterest bearing demand deposits	18,988,231		16,342,035		16	18,463,787		15,999,415		15	19,048,273		16,321,003		17
Interest bearing transaction accounts	30,727,865		28,211,266		9	31,074,124		27,645,278		12	30,448,569		28,629,221		6
Total transaction accounts	49,716,096		44,553,301		12	49,537,911		43,644,693		14	49,496,842		44,950,224		10
Total deposits	62,622,309		57,549,565		9	62,373,147		56,386,091		11	62,499,369		58,118,406		8
Shareholder's equity	12,233,122		11,823,834		3	12,175,099		11,720,415		4	12,227,062		11,849,538		3

BBVA COMPASS BANCSHARES, INC. (Unaudited) (Dollars in thousands)

	2015						2014
	June 30			March 31			December 31			September 30			June 30
NONPERFORMING ASSETS
Nonaccrual loans [b]	$	395,350		$	357,539		$	322,654		$	344,937		$	341,807
Loans 90 days or more past due [a]	69,710			70,750			71,454			76,196			76,219
TDRs 90 days or more past due	1,224			820			1,722			991			629
Total nonperforming loans [b]	466,284			429,109			395,830			422,124			418,655
Other real estate owned, net (OREO)	20,188			17,764			20,600			17,058			21,113
Other repossessed assets	4,255			3,823			3,920			$	3,618		$	2,796
Total nonperforming assets	$	490,727		$	450,696		$	420,350		$	442,800		$	442,564

TDRs accruing and past due less than 90 days	$	155,592		$	157,252		$	161,261		$	170,789		$	177,630

Covered loans [c]	473,842			488,560			495,190			580,756			613,152
Covered nonperforming loans [c]	44,664			45,581			48,071			56,221			59,331
Covered nonperforming assets [c]	47,085			47,598			51,989			59,609			62,824

Total nonperforming loans as a % of loans	0.77		%	0.73		%	0.69		%	0.76		%	0.77		%
Total nonperforming loans as a % of loans, excluding covered loans	0.71			0.66			0.61			0.67			0.67
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets	0.81			0.77			0.73			0.80			0.81
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets, excluding covered assets	0.74			0.69			0.65			0.70			0.71
[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
	June 30			March 31			December 31			September 30			June 30
ALLOWANCE FOR LOAN LOSSES
Balance at beginning of period	$	701,864		$	685,041		$	695,878		$	714,760		$	707,665
Net charge-offs (NCO)	26,542			25,208			30,751			22,751			38,157
Provision for loan losses	46,149			42,031			19,914			3,869			45,252
Balance at end of period	$	721,471		$	701,864		$	685,041		$	695,878		$	714,760

Allowance for loan losses as a % of total loans	1.20		%	1.20		%	1.19		%	1.27		%	1.32		%
Allowance for loan losses as a % of nonperforming loans [a]	154.73			163.56			173.06			164.85			170.73
Allowance for loan losses as a % of nonperforming assets [a]	147.02			155.73			162.97			157.15			161.50

Annualized as a % of average loans:
NCO - QTD	0.18			0.17			0.22			0.16			0.28
NCO - YTD	0.18			0.17			0.22			0.23			0.26
[a] Includes loans held for sale that are on nonaccrual status.

BBVA COMPASS BANCSHARES, INC. (Unaudited) (Dollars in thousands)

	Three Months Ended June 30,
	2015							2014
	Average Balance			Income/ Expense		Yield/ Rate		Average Balance			Income/ Expense		Yield/ Rate
YIELD/RATE ANALYSIS
(Taxable Equivalent Basis)
Assets
Earning assets:
Loans	$	59,746,217		$	545,701	3.66	%	$	53,924,258		$	533,572	3.97	%
Investment securities available for sale [a]	10,108,556			49,493		1.96		8,833,591			50,085		2.27
Investment securities held to maturity	1,371,906			10,000		2.92		1,463,642			10,066		2.76
Other earning assets	4,789,194			15,195		1.27		108,736			622		2.29
Total earning assets [a]	76,015,873			620,389		3.27		64,330,227			594,345		3.71
Allowance for loan losses	(704,594		)					(707,222		)
Unrealized gain (loss) on securities available for sale	56,537							44,959
Other assets	12,498,134							12,336,977
Total assets	$	87,865,950						$	76,004,941

Liabilities and Shareholder's Equity
Interest bearing liabilities:
Interest bearing demand deposits	$	7,268,321		$	2,888	0.16		$	7,244,052		$	3,098	0.17
Savings and money market accounts	23,459,544			21,307		0.36		20,967,214			20,000		0.38
Certificates and other time deposits	12,719,337			40,911		1.29		12,876,734			37,748		1.18
Foreign office deposits	186,876			95		0.20		119,530			55		0.18
Total interest bearing deposits	43,634,078			65,201		0.60		41,207,530			60,901		0.59
FHLB and other borrowings	6,000,934			27,540		1.84		4,100,456			16,184		1.58
Federal funds purchased and securities sold under agreement to repurchase	884,282			1,702		0.77		876,593			437		0.20
Other short-term borrowings	4,387,467			15,291		1.40		17,282			96		2.23
Total interest bearing liabilities	54,906,761			109,734		0.80		46,201,861			77,618		0.67
Noninterest bearing deposits	18,988,231							16,342,035
Other noninterest bearing liabilities	1,737,836							1,637,211
Total liabilities	75,632,828							64,181,107
Shareholder's equity	12,233,122							11,823,834
Total liabilities and shareholder's equity	$	87,865,950						$	76,004,941

Net interest income/ net interest spread				510,655		2.47	%				516,727		3.04	%
Net yield on earning assets						2.69	%						3.22	%

Total taxable equivalent adjustment				18,673							17,953

Net interest income				$	491,982						$	498,774
[a] Excludes adjustment for market valuation.

BBVA COMPASS BANCSHARES, INC. (Unaudited) (Dollars in thousands)

	Six Months Ended June 30,
	2015							2014
	Average Balance			Income/ Expense		Yield/ Rate		Average Balance			Income/ Expense		Yield/ Rate
YIELD/RATE ANALYSIS
(Taxable Equivalent Basis)
Assets
Earning assets:
Loans	$	59,282,211		$	1,103,590	3.75	%	$	52,939,163		$	1,054,164	4.02	%
Investment securities available for sale [a]	10,033,989			99,223		1.99		8,743,587			101,079		2.33
Investment securities held to maturity	1,366,182			19,663		2.90		1,484,405			20,439		2.78
Other earning assets	4,141,976			25,805		1.26		107,399			1,188		2.23
Total earning assets [a]	74,824,358			1,248,281		3.36		63,274,554			1,176,870		3.75
Allowance for loan losses	(698,100		)					(704,997		)
Unrealized gain (loss) on securities available for sale	61,773							41,770
Other assets	12,296,198							12,078,024
Total assets	$	86,484,229						$	74,689,351

Liabilities and Shareholder's Equity
Interest bearing liabilities:
Interest bearing demand deposits	$	7,450,170		$	5,925	0.16		$	7,366,899		$	6,095	0.17
Savings and money market accounts	23,623,954			48,205		0.41		20,278,379			35,666		0.35
Certificates and other time deposits	12,667,221			80,556		1.28		12,620,073			72,239		1.15
Foreign office deposits	168,015			168		0.20		121,325			117		0.19
Total interest bearing deposits	43,909,360			134,854		0.62		40,386,676			114,117		0.57
FHLB and other borrowings	5,443,890			46,646		1.74		4,194,210			32,548		1.57
Federal funds purchased and securities sold under agreement to repurchase	911,894			3,028		0.67		908,703			937		0.21
Other short-term borrowings	3,772,277			25,539		1.37		14,931			122		1.65
Total interest bearing liabilities	54,037,421			210,067		0.79		45,504,520			147,724		0.66
Noninterest bearing deposits	18,463,787							15,999,415
Other noninterest bearing liabilities	1,807,922							1,465,001
Total liabilities	74,309,130							62,968,936
Shareholder's equity	12,175,099							11,720,415
Total liabilities and shareholder's equity	$	86,484,229						$	74,689,351

Net interest income/ net interest spread				1,038,214		2.57	%				1,029,146		3.09	%
Net yield on earning assets						2.80	%						3.28	%

Total taxable equivalent adjustment				37,203							35,073

Net interest income				$	1,001,011						$	994,073
[a] Excludes adjustment for market valuation.

BBVA COMPASS BANCSHARES, INC. (Unaudited) (Dollars in thousands)

	Six Months								Three Months Ended
	Ended June 30,						%		2015						2014
	2015			2014			Change		June 30			March 31			December 31		September 30		June 30
NONINTEREST INCOME
Service charges on deposit accounts	$	106,974		$	108,349		(1	)	$	53,690		$	53,284		$	56,799	$	57,537	$	54,958
Card and merchant processing fees	54,894			52,777			4		28,711			26,183			26,432		28,682		28,473
Retail investment sales	51,519			55,408			(7	)	26,373			25,146			25,424		27,645		28,844
Investment banking and advisory fees	67,133			44,475			51		36,799			30,334			24,229		18,750		22,279
Asset management fees	16,531			21,293			(22	)	8,435			8,096			10,813		10,666		10,535
Corporate and correspondent investment sales	14,243			16,628			(14	)	7,984			6,259			7,619		5,388		7,972
Mortgage banking income	20,715			10,426			99		12,556			8,159			5,627		8,498		6,150
Bank owned life insurance	9,182			8,204			12		4,394			4,788			5,809		4,603		4,237
Other	112,535			99,773			13		55,797			56,738			68,032		54,809		50,533
	453,726			417,333			9		234,739			218,987			230,784		216,578		213,981
Investment securities gains, net	60,231			37,898			59		27,399			32,832			5,434		9,710		21,464
Gain (loss) on prepayment of FHLB and other borrowings	(6,118		)	(458		)	NM		(3,569		)	(2,549		)	—		143		—
Total noninterest income	$	507,839		$	454,773		12		$	258,569		$	249,270		$	236,218	$	226,431	$	235,445

NONINTEREST EXPENSE
Salaries, benefits and commissions	$	527,971		$	525,870		—		$	268,709		$	259,262		$	281,065	$	265,334	$	263,301
FDIC indemnification expense	41,208			61,988			(34	)	12,419			28,789			34,313		18,748		30,370
Professional services	97,678			96,189			2		51,119			46,559			59,027		52,463		49,790
Equipment	115,316			109,207			6		57,175			58,141			58,401		56,355		55,469
Net occupancy	79,662			79,157			1		40,382			39,280			39,865		39,357		40,200
Marketing	21,706			18,510			17		11,618			10,088			5,894		11,587		9,986
Communications	11,012			12,641			(13	)	5,245			5,767			6,003		5,964		6,294
Amortization of intangibles	20,576			26,165			(21	)	9,889			10,687			24,556		12,635		13,631
Other	127,226			134,402			(5	)	63,080			64,146			74,357		70,699		76,221
Total noninterest expense	$	1,042,355		$	1,064,129		(2	)	$	519,636		$	522,719		$	583,481	$	533,142	$	545,262
NM = Not meaningful

BBVA COMPASS BANCSHARES, INC. (Unaudited) (Dollars in thousands)

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
NON-GAAP RECONCILIATION

Computation of Average Tangible Equity:
Total stockholder's equity (average)	$	12,233,122		$	11,823,834		$	12,175,099		11,720,415
Less: Goodwill and other intangibles (average)	5,150,763			5,209,795			5,149,182			5,165,917
Average tangible equity [B]	$	7,082,359		$	6,614,039		$	7,025,917		6,554,498
Net income [A]	$	136,650		$	107,575		$	278,417		222,502
Return on average tangible equity ([A]/[B], annualized)	7.74		%	6.52		%	7.99		%	6.85	%

BBVA COMPASS BANCSHARES, INC SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) (In Thousands)

	At or Quarter Ended June 30, 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	$	18,524	$	7,037	$	3,149	$	147,051	$	9,693	$	24,767,734	$	24,953,188	$	1,869
Real estate – construction	148		512		1,157		7,777		2,212		2,425,025		2,436,831		(2,106		)
Commercial real estate – mortgage	7,916		1,348		2,853		78,569		34,389		10,200,605		10,325,680		671
Residential real estate – mortgage	45,487		14,926		1,703		106,179		71,357		13,963,891		14,203,543		1,487
Equity lines of credit	7,833		4,370		2,515		33,757		—		2,304,225		2,352,700		3,608
Equity loans	5,202		1,553		1,147		16,175		38,998		576,051		639,126		(585		)
Credit card	4,840		3,361		7,672		—		—		576,496		592,369		7,542
Consumer – direct	7,247		2,190		2,176		853		167		767,735		780,368		6,311
Consumer – indirect	47,676		8,895		2,810		4,853		—		3,185,345		3,249,579		7,593
Covered loans	5,930		3,640		44,528		136		—		419,608		473,842		152
Total loans	$	150,803	$	47,832	$	69,710	$	395,350	$	156,816	$	59,186,715	$	60,007,226	$	26,542
Loans held for sale	$	—	$	—	$	—	$	—	$	—	$	195,616	$	195,616	$	—



	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	$	—

BBVA COMPASS BANCSHARES, INC. BALANCE SHEET (Unaudited) (In Thousands)

	2015						2014
	June 30			March 31			December 31			September 30			June 30
Assets:
Cash and due from banks	$	3,353,177		$	3,664,182		$	2,764,345		$	4,643,636		$	3,232,911
Federal funds sold, securities purchased under agreements to resell and interest bearing deposits	512,244			300,175			624,060			271,898			31,291
Cash and cash equivalents	3,865,421			3,964,357			3,388,405			4,915,534			3,264,202
Trading account assets	4,879,125			3,680,427			2,834,397			515,136			356,889
Investment securities available for sale	10,392,484			10,101,828			10,237,275			9,326,413			8,972,237
Investment securities held to maturity	1,375,075			1,373,542			1,348,354			1,417,985			1,448,192
Loans held for sale	195,616			198,488			154,816			190,882			211,879
Loans	60,007,226			58,558,463			57,371,784			55,009,233			54,085,793
Allowance for loan losses	(721,471		)	(701,864		)	(685,041		)	(695,878		)	(714,760		)
Net loans	59,285,755			57,856,599			56,686,743			54,313,355			53,371,033
Premises and equipment, net	1,315,020			1,332,539			1,351,479			1,333,008			1,359,750
Bank owned life insurance	698,773			694,370			694,335			695,842			691,445
Goodwill	5,060,161			5,046,847			5,046,847			5,060,924			5,076,142
Other intangible assets	50,208			60,097			70,784			82,840			95,475
Other real estate owned	20,188			17,764			20,600			17,058			21,113
Other assets	1,332,923			1,148,883			1,318,392			1,323,212			878,743
Total assets	$	88,470,749		$	85,475,741		$	83,152,427		$	79,192,189		$	75,747,100
Liabilities:
Deposits:
Noninterest bearing	$	19,048,273		$	18,599,702		$	17,169,412		$	16,979,235		$	16,321,003
Interest bearing	43,451,096			44,300,979			44,020,304			43,291,723			41,797,403
Total deposits	62,499,369			62,900,681			61,189,716			60,270,958			58,118,406
FHLB and other borrowings	6,778,066			4,919,141			4,809,843			4,551,050			3,958,497
Federal funds purchased and securities sold under agreements to repurchase	623,400			909,683			1,129,503			809,053			864,263
Other short-term borrowings	4,982,154			3,377,694			2,545,724			246,835			15,705
Accrued expenses and other liabilities	1,360,698			1,206,612			1,474,067			1,387,240			940,691
Total liabilities	76,243,687			73,313,811			71,148,853			67,265,136			63,897,562
Shareholder’s Equity:
Common stock — $0.01 par value	2,230			2,230			2,230			2,230			2,230
Surplus	15,245,414			15,278,877			15,285,991			15,333,316			15,383,867
Retained deficit	(2,985,011		)	(3,121,071		)	(3,262,181		)	(3,364,389		)	(3,507,192		)
Accumulated other comprehensive loss	(64,672		)	(27,654		)	(51,357		)	(73,846		)	(58,295		)
Total BBVA Compass Bancshares, Inc. shareholder’s equity	12,197,961			12,132,382			11,974,683			11,897,311			11,820,610
Noncontrolling interests	29,101			29,548			28,891			29,742			28,928
Total shareholder’s equity	12,227,062			12,161,930			12,003,574			11,927,053			11,849,538
Total liabilities and shareholder’s equity	$	88,470,749		$	85,475,741		$	83,152,427		$	79,192,189		$	75,747,100

BBVA COMPASS BANCSHARES, INC. INCOME STATEMENTS (Unaudited) (In Thousands)

	Three Months Ended
	2015						2014
	June 30			March 31			December 31		September 30		June 30
Interest income:
Interest and fees on loans	$	531,394		$	543,842		$	547,309	$	509,766	$	520,516
Interest on investment securities available for sale	48,204			48,208			45,786		48,363		48,253
Interest on investment securities held to maturity	6,924			6,702			6,860		6,862		7,003
Interest on federal funds sold, securities purchased under agreements to resell and interest bearing deposits	1,362			996			566		47		42
Interest on trading account assets	13,832			9,614			5,696		933		578
Total interest income	601,716			609,362			606,217		565,971		576,392
Interest expense:
Interest on deposits	65,201			69,653			71,034		66,763		60,901
Interest on FHLB and other borrowings	27,540			19,106			20,010		16,399		16,184
Interest on federal funds purchased and securities sold under agreements to repurchase	1,702			1,326			918		447		437
Interest on other short-term borrowings	15,291			10,248			4,802		394		96
Total interest expense	109,734			100,333			96,764		84,003		77,618
Net interest income	491,982			509,029			509,453		481,968		498,774
Provision for loan losses	46,149			42,031			19,914		3,869		45,252
Net interest income after provision for loan losses	445,833			466,998			489,539		478,099		453,522
Noninterest income:
Service charges on deposit accounts	53,690			53,284			56,799		57,537		54,958
Card and merchant processing fees	28,711			26,183			26,432		28,682		28,473
Retail investment sales	26,373			25,146			25,424		27,645		28,844
Investment banking and advisory fees	36,799			30,334			24,228		18,750		22,280
Asset management fees	8,435			8,096			10,813		10,666		10,535
Corporate and correspondent investment sales	7,984			6,259			7,619		5,388		7,972
Mortgage banking income	12,556			8,159			5,627		8,498		6,150
Bank owned life insurance	4,394			4,788			5,809		4,603		4,237
Investment securities gains, net	27,399			32,832			5,434		9,710		21,464
Gain (loss) on prepayment of FHLB and other borrowings	(3,569		)	(2,549		)	—		143		—
Other	55,797			56,738			68,033		54,809		50,532
Total noninterest income	258,569			249,270			236,218		226,431		235,445
Noninterest expense:
Salaries, benefits and commissions	268,709			259,262			281,065		265,334		263,301
FDIC indemnification expense	12,419			28,789			34,313		18,748		30,370
Professional services	51,119			46,559			59,027		52,463		49,790
Equipment	57,175			58,141			58,401		56,355		55,469
Net occupancy	40,382			39,280			39,865		39,357		40,200
Marketing	11,618			10,088			5,894		11,587		9,986
Communications	5,245			5,767			6,003		5,964		6,294
Amortization of intangibles	9,889			10,687			24,556		12,635		13,631
Other	63,080			64,146			74,357		70,699		76,221
Total noninterest expense	519,636			522,719			583,481		533,142		545,262
Net income before income tax expense	184,766			193,549			142,276		171,388		143,705
Income tax expense	48,116			51,782			39,864		27,770		36,130
Net income	136,650			141,767			102,412		143,618		107,575
Less: net income attributable to noncontrolling interests	590			657			204		815		504
Net income attributable to shareholder	$	136,060		$	141,110		$	102,208	$	142,803	$	107,071

BBVA USA Bancshares, Inc. - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - July 31, 2015

Attached files

BBVA USA Bancshares, Inc. Reports