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.	bbvacompass123120158k.htm

Exhibit 99.1

Noninterest bearing deposit growth 13 percent in the fourth quarter

BBVA Compass reports earnings of $490 million for the full-year of 2015, up five percent


•	Total loans end the quarter at $61.4 billion, up 7 percent from prior year levels


•	Total deposits increase 8 percent to $66.0 billion, led by a 12 percent increase in noninterest bearing deposits


•	Credit quality metrics remain sound; net charge-off ratio 19 basis points, nonperforming loan ratio at 78 basis points and coverage ratio at 160 percent


•	Strong business activity drives 2 percent increase in total revenue; net interest income increases 1 percent while fee-based businesses expand 4 percent


•	Expense growth well-contained as disciplined expense management results in 2 percent decline in noninterest expenses

HOUSTON, February 3, 2016 - BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income attributable to shareholder of $490 million for the twelve months of 2015, a five percent increase compared to $467 million earned during the twelve months of 2014. Return on average assets and return on average tangible equity¹ for the twelve months of 2015 were 0.56 percent and 6.86 percent, respectively.

Net income attributable to shareholder for the fourth quarter of 2015 was $87 million compared to the $102 million earned during the fourth quarter of 2014. Return on average assets and return on average tangible equity¹ for the fourth quarter of 2015 were 0.38 percent and 4.68 percent, respectively.

“Despite the headwinds of a challenging environment, BBVA Compass delivered solid results in 2015 highlighted by outstanding balance sheet growth,” said Manolo Sánchez, chairman and CEO of BBVA Compass. “Loan production was robust as we funded nearly $17.3 billion of customer loans, which resulted in a 7 percent increase in our loan portfolio. While total deposits increased 8 percent, growth of noninterest bearing deposits was even more pronounced at 12 percent.”

“At the same time, our real-time platform and embracing of digital disruptors is allowing us to lead the charge in the new, digital banking environment our industry is quickly moving toward,” said Sánchez. “Today, more so than ever before, providing innovative products and services in real-time will be a critical factor for customers in choosing their bank.”

Total revenue increased 2 percent as both net interest income and noninterest income posted positive results. Strong loan and noninterest bearing deposit volume resulted in a 1 percent increase in net interest income while income from fee-based businesses grew 4 percent. Expense growth was well contained as improved efficiencies and disciplined expense management resulted in a 2 percent decrease in total noninterest expenses.

Credit quality measures continued to reflect a strong risk-profile. Net charge-offs as a percentage of average loans were 19 basis points for the full-year of 2015 compared to 22 basis points for the full-year of 2014. The ratio of nonperforming loans to total loans was 0.78 percent at year-end 2015 compared to 0.69 percent at the end of 2014. The coverage ratio that measures the amount of reserves to nonperforming loans remained strong at 160 percent.

“Clearly, our asset quality metrics continue to reflect our commitment to maintaining sound underwriting standards while at the same time expanding our lending relationships with clients,” Sánchez said. “As expected, the prolonged period of low energy prices has placed some stress on our energy portfolio, which represents approximately 6 percent of our outstanding loans.”

“Our exposure to oilfield services companies who have been most impacted by lower energy prices is very limited, and there were no nonaccrual loans in this portfolio at year-end. And while we have seen an increase in nonaccrual loans in the exploration and production segment, this kind of lending is supported by proven reserves of our clients which include both oil and natural gas. As a result, charge-offs in this portfolio have remained low and the vast majority of loans in this portfolio remain well collateralized.”



(Dollars in thousands)	December 31, 2015				December 31, 2014
	Outstanding		Nonaccrual		Outstanding		Nonaccrual
Exploration and production	$	2,040,748	$	91,947	$	2,257,012	$	86
Midstream	1,355,503		—		950,483		—
Drilling oil & support services	266,871		—		242,281		5,400
Refineries and terminals	137,904		520		124,228		700
Other	39,200		—		38,141		—
Total energy portfolio	$	3,840,226	$	92,467	$	3,612,145	$	6,186

Total shareholder’s equity ended the fourth quarter of 2015 at $12.6 billion, a 5 percent increase from $12.0 billion at the end of the fourth quarter of 2014. Each of the company’s regulatory capital ratios remain significantly above “well-capitalized” guidelines.

During the fourth quarter, BBVA Compass earned two awards on Money magazine’s “Best Banks in America 2015-16” list. BBVA Compass was named the best regional bank in the South and West based on its ClearChoice deposit products. BBVA Compass was also awarded best mobile banking app, which won for its broad array of capabilities and user-friendly interface.

BBVA Compass also became the first major U.S. bank to offer its credit card clients real-time redemption of rewards earned on qualified purchases made at any retailer. The patent-pending innovation was introduced with the latest release of BBVA Wallet, the bank’s mobile wallet that gives clients an up-to-minute view of purchases, reward balances and more.

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 (4th). BBVA Compass was recently named the best regional bank in the South and West, as well as earning best mobile app, in Money magazine’s annual list of the Best Bank’s in America. 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 December 31,						%		Years ended December 31,						%
	2015			2014			Change		2015			2014			Change
EARNINGS SUMMARY
Net interest income	$	504,085		$	509,453		(1	)	$	2,012,963		$	1,985,494		1
Noninterest income [a]	222,467			230,784			(4	)	902,833			864,695			4
Total revenue [a]	726,552			740,237			(2	)	2,915,796			2,850,189			2
Investment securities gain (loss), net	14,689			5,434			170		81,656			53,042			54
Loss on prepayment of FHLB advances	(1,898		)	—			NM		(8,016		)	(315		)	NM
Provision for loan losses	76,307			19,914			283		193,638			106,301			82
Noninterest expense	557,885			583,481			(4	)	2,136,490			2,180,752			(2	)
Pretax income	105,151			142,276			(26	)	659,308			615,863			7
Income tax expense	17,505			39,864			(56	)	167,513			147,331			14
Net income	87,646			102,412			(14	)	491,795			468,532			5
Net income attributable to noncontrolling interests	490			204			140		2,228			1,976			13
Net income attributable to shareholder	$	87,156		$	102,208		(15	)	$	489,567		$	466,556		5

SELECTED RATIOS
Return on average assets	0.38		%	0.49		%			0.56		%	0.60		%
Return on average tangible equity [b]	4.68			5.97					6.86			7.03
Average common equity to average assets	13.84			14.52					13.93			15.28
Average loans to average total deposits	94.05			92.31					94.70			93.18
Common equity tier 1 capital (CET1) [c]	10.70			NA					10.70			NA
Tier I capital ratio [c]	11.08			10.94					11.08			10.94
Total capital ratio [c]	13.68			12.81					13.68			12.81
Leverage ratio [c]	8.95			9.09					8.95			9.09
[a] Excludes net gain on sales of investment securities and gain (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
NA = Not applicable

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

	Average for Three Months					Average for Year Ended					Ending Balance
	Ended December 31,				%	Ended December 31,				%	December 31,				%
	2015		2014		Change	2015		2014		Change	2015		2014		Change
BALANCE SHEET HIGHLIGHTS
Total loans	$	61,480,854	$	56,419,150	9	$	60,176,687	$	54,423,885	11	$	61,394,666	$	57,526,600	7
Total investment securities	12,186,839		11,023,444		11	11,750,984		10,541,348		11	12,373,196		11,585,629		7
Earning assets	77,968,352		69,447,957		12	76,288,144		65,574,287		16	78,071,231		72,344,332		8
Total assets	90,341,119		82,702,903		9	88,282,486		77,520,755		14	89,965,080		83,152,427		8
Noninterest bearing demand deposits	19,805,668		17,473,984		13	19,015,802		16,633,240		14	19,290,266		17,169,412		12
Interest bearing transaction accounts	31,976,145		30,695,786		4	31,374,727		28,896,496		9	32,620,096		31,176,846		5
Total transaction accounts	51,781,813		48,169,770		7	50,390,529		45,529,736		11	51,910,362		48,346,258		7
Total deposits	65,368,720		61,116,755		7	63,541,384		58,407,635		9	65,980,530		61,189,716		8
Shareholder's equity	12,576,042		12,005,933		5	12,311,963		11,841,999		4	12,577,284		12,003,574		5

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

	2015												2014
	December 31			September 30			June 30			March 31			December 31
NONPERFORMING ASSETS
Nonaccrual loans [a]	$	407,045		$	380,930		$	395,350		$	357,539		$	322,654
Loans 90 days or more past due [b]	68,629			73,588			69,710			70,750			71,454
TDRs 90 days or more past due	874			678			1,224			820			1,722
Total nonperforming loans [a]	476,548			455,196			466,284			429,109			395,830
Other real estate owned, net (OREO)	20,862			23,762			20,188			17,764			20,600
Other repossessed assets	8,774			3,331			4,255			3,823			$	3,920
Total nonperforming assets	$	506,184		$	482,289		$	490,727		$	450,696		$	420,350

TDRs accruing and past due less than 90 days	$	150,038		$	154,397		$	155,592		$	157,252		$	161,261

Covered loans [c]	440,961			458,066			473,842			488,560			495,190
Covered nonperforming loans [c]	38,106			43,192			44,664			45,581			48,071
Covered nonperforming assets [c]	40,216			45,569			47,085			47,598			51,989

Total nonperforming loans as a % of loans	0.78		%	0.75		%	0.77		%	0.73		%	0.69		%
Total nonperforming loans as a % of loans, excluding covered loans	0.72			0.68			0.71			0.66			0.61
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets	0.82			0.79			0.81			0.77			0.73
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets, excluding covered assets	0.76			0.72			0.74			0.69			0.65
[a] Includes loans held for sale.
[b] Excludes loans classified as troubled debt restructurings (TDRs).
[c] Covered assets includes loans and OREO acquired from the FDIC subject to loss sharing agreements.



	Three Months Ended
	2015												2014
	December 31			September 30			June 30			March 31			December 31
ALLOWANCE FOR LOAN LOSSES
Balance at beginning of period	$	722,122		$	721,471		$	701,864		$	685,041		$	695,878
Net charge-offs (NCO)	35,756			28,500			26,542			25,208			30,751
Provision for loan losses	76,307			29,151			46,149			42,031			19,914
Balance at end of period	$	762,673		$	722,122		$	721,471		$	701,864		$	685,041

Allowance for loan losses as a % of total loans	1.24		%	1.20		%	1.20		%	1.20		%	1.19		%
Allowance for loan losses as a % of nonperforming loans [a]	160.04			158.64			154.73			163.56			173.06
Allowance for loan losses as a % of nonperforming assets [a]	150.67			149.73			147.02			155.73			162.97

Annualized as a % of average loans:
NCO - QTD	0.23			0.19			0.18			0.17			0.22
NCO - YTD	0.19			0.18			0.18			0.17			0.22
[a] Includes loans held for sale that are on nonaccrual status.

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

	Three Months Ended December 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	$	61,480,854		$	561,790	3.63	%	$	56,419,150		$	561,422	3.95	%
Investment securities available for sale [a]	10,848,801			49,186		1.80		9,583,937			47,503		1.97
Investment securities held to maturity	1,337,393			10,003		2.97		1,394,926			9,835		2.80
Other earning assets	4,300,659			14,649		1.35		2,005,363			6,262		1.24
Total earning assets [a]	77,967,707			635,628		3.23		69,403,376			625,022		3.57
Allowance for loan losses	(734,031		)					(692,839		)
Unrealized gain (loss) on securities available for sale	645							44,581
Other assets	13,106,798							13,947,785
Total assets	$	90,341,119						$	82,702,903

Liabilities and Shareholders' Equity
Interest bearing liabilities:
Interest bearing demand deposits	$	7,033,106		$	3,143	0.18		$	7,311,384		$	2,920	0.16
Savings and money market accounts	24,943,039			23,871		0.38		23,384,402			27,750		0.47
Certificates and other time deposits	13,455,462			44,263		1.31		12,783,269			40,280		1.25
Foreign office deposits	131,445			65		0.20		163,716			84		0.20
Total interest bearing deposits	45,563,052			71,342		0.62		43,642,771			71,034		0.65
FHLB and other borrowings	5,580,514			22,920		1.63		4,799,343			20,010		1.65
Federal funds purchased and securities sold under agreement to repurchase	732,968			2,856		1.55		1,084,679			918		0.34
Other short-term borrowings	4,104,587			15,774		1.52		1,448,610			4,802		1.32
Total interest bearing liabilities	55,981,121			112,892		0.80		50,975,403			96,764		0.75
Noninterest bearing deposits	19,805,668							17,473,984
Other noninterest bearing liabilities	1,978,288							2,247,583
Total liabilities	77,765,077							70,696,970
Shareholder's equity	12,576,042							12,005,933
Total liabilities and shareholder's equity	$	90,341,119						$	82,702,903

Net interest income/ net interest spread				522,736		2.43	%				528,258		2.82	%
Net yield on earning assets						2.66	%						3.02	%

Total taxable equivalent adjustment				18,651							18,805

Net interest income				$	504,085						$	509,453
[a] Excludes adjustment for market valuation.

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

	Years Ended December 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	$	60,176,687		$	2,221,093	3.69	%	$	54,423,885		$	2,139,429	3.93	%
Investment securities available for sale [a]	10,358,764			195,769		1.89		9,052,396			198,732		2.20
Investment securities held to maturity	1,359,013			39,785		2.93		1,447,636			40,145		2.77
Other earning assets	4,360,473			56,544		0.01		609,054			8,434		0.01
Total earning assets [a]	76,254,937			2,513,191		3.30		65,532,971			2,386,740		3.64
Allowance for loan losses	(714,157		)					(703,902		)
Unrealized gain (loss) on securities available for sale	33,207							41,316
Other assets	12,708,499							12,650,370
Total assets	$	88,282,486						$	77,520,755

Liabilities and Shareholders' Equity
Interest bearing liabilities:
Interest bearing demand deposits	$	7,218,956		12,011		0.17		$	7,280,418		11,986		0.16
Savings and money market accounts	24,155,771			94,336		0.39		21,616,078			87,672		0.41
Certificates and other time deposits	12,989,789			167,809		1.29		12,745,974			151,997		1.19
Foreign office deposits	161,066			322		0.20		131,925			259		0.20
Total interest bearing deposits	44,525,582			274,478		0.62		41,774,395			251,914		0.60
FHLB and other borrowings	5,701,974			89,988		1.58		4,254,352			68,957		1.62
Federal funds purchased and securities sold under agreement to repurchase	807,677			8,390		1.04		935,439			2,302		0.25
Other short-term borrowings	4,006,716			52,442		1.31		385,461			5,318		1.38
Total interest bearing liabilities	55,041,949			425,298		0.77		47,349,647			328,491		0.69
Noninterest bearing deposits	19,015,802							16,633,240
Other noninterest bearing liabilities	1,912,772							1,695,869
Total liabilities	75,970,523							65,678,756
Shareholder's equity	12,311,963							11,841,999
Total liabilities and shareholder's equity	$	88,282,486						$	77,520,755

Net interest income/ net interest spread				2,087,893		2.53	%				2,058,249		2.95	%
Net yield on earning assets						2.74	%						3.14	%

Total taxable equivalent adjustment				74,930							72,755

Net interest income				$	2,012,963						$	1,985,494
[a] Excludes adjustment for market valuation.

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

	Year Ended								Three Months Ended
	December 31,						%		2015											2014
	2015			2014			Change		December 31			September 30		June 30			March 31			December 31
NONINTEREST INCOME
Service charges on deposit accounts	$	216,248		$	222,685		(3	)	$	54,357		$	54,917	$	53,690		$	53,284		$	56,799
Card and merchant processing fees	112,818			107,891			5		28,900			29,024		28,711			26,183			26,432
Retail investment sales	101,614			108,477			(6	)	24,040			26,055		26,373			25,146			25,424
Investment banking and advisory fees	105,235			87,454			20		20,260			17,842		36,799			30,334			24,228
Asset management fees	33,194			42,772			(22	)	8,745			7,918		8,435			8,096			10,813
Corporate and correspondent investment sales	30,000			29,635			1		9,710			6,047		7,984			6,259			7,619
Mortgage banking income	27,258			24,551			11		5,989			554		12,556			8,159			5,627
Bank owned life insurance	18,662			18,616			—		5,135			4,345		4,394			4,788			5,809
Other	257,804			222,614			16		65,331			79,938		55,797			56,738			68,033
	902,833			864,695			4		222,467			226,640		234,739			218,987			230,784
Investment securities gains, net	81,656			53,042			54		14,689			6,736		27,399			32,832			5,434
Loss on prepayment of FHLB and other borrowings	(8,016		)	(315		)	NM		(1,898		)	—		(3,569		)	(2,549		)	—
Total noninterest income	$	976,473		$	917,422		6		$	235,258		$	233,376	$	258,569		$	249,270		$	236,218

NONINTEREST EXPENSE
Salaries, benefits and commissions	$	1,071,196		$	1,072,269		—		$	274,863		$	268,362	$	268,709		$	259,262		$	281,065
FDIC indemnification expense	55,129			115,049			(52	)	5,460			8,461		12,419			28,789			34,313
Professional services	216,325			207,679			4		63,863			54,784		51,119			46,559			59,027
Equipment	230,960			223,963			3		57,493			58,151		57,175			58,141			58,401
Net occupancy	160,309			158,379			1		41,122			39,525		40,382			39,280			39,865
Marketing	41,770			35,991			16		9,440			10,624		11,618			10,088			5,894
Communications	21,980			24,608			(11	)	5,286			5,682		5,245			5,767			6,003
Amortization of intangibles	39,208			50,856			(23	)	9,125			9,507		9,889			10,687			24,556
Other	299,613			291,958			3		91,233			81,154		63,080			64,146			74,357
Total noninterest expense	$	2,136,490		$	2,180,752		(2	)	$	557,885		$	536,250	$	519,636		$	522,719		$	583,481
NM = Not meaningful

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

	Three Months Ended December 31,					Years Ended December 31,
	2015			2014		2015			2014
NON-GAAP RECONCILIATION

Computation of Average Tangible Equity:
Total stockholder's equity (average)	$	12,576,042		12,005,933		$	12,311,963		11,841,999
Less: Goodwill and other intangibles (average)	5,139,183			5,198,332		5,146,362			5,175,940
Average tangible equity [B]	$	7,436,859		6,807,601		$	7,165,601		6,666,059
Net income [A]	$	87,646		102,208		$	491,795		466,556
Return on average tangible equity ([A]/[B], annualized)	4.68		%	5.97	%	6.86		%	7.03	%

BBVA COMPASS BANCSHARES, INC SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) (Dollars in thousands)

	At or Quarter Ended December 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	$	8,197	$	4,215	$	3,567	$	161,591	$	9,402	$	25,835,402	$	26,022,374	$	3,345
Real estate – construction	2,864		91		421		5,908		2,247		2,342,722		2,354,253		(423		)
Commercial real estate – mortgage	3,843		1,461		2,237		69,953		33,904		10,341,882		10,453,280		1,260
Residential real estate – mortgage	47,323		19,540		1,961		113,234		67,343		13,743,884		13,993,285		1,269
Equity lines of credit	8,263		4,371		2,883		35,023		—		2,369,275		2,419,815		1,382
Equity loans	6,356		2,194		704		15,614		37,108		518,828		580,804		238
Credit card	5,563		4,622		9,718		—		—		607,456		627,359		7,299
Consumer – direct	7,648		3,801		3,537		561		908		920,416		936,871		6,126
Consumer – indirect	73,438		17,167		5,629		5,027		—		3,393,821		3,495,082		14,548
Covered loans	4,862		3,454		37,972		134		—		394,539		440,961		712
Total loans	$	168,357	$	60,916	$	68,629	$	407,045	$	150,912	$	60,468,225	$	61,324,084	$	35,756
Loans held for sale	$	227	$	—	$	—	$	—	$	—	$	70,355	$	70,582	$	—



	At or Quarter Ended September 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	$	15,300	$	3,930	$	5,202	$	130,370	$	9,635	$	25,471,882	$	25,636,319	$	3,990
Real estate – construction	1,565		117		426		5,712		2,247		2,305,284		2,315,351		(426		)
Commercial real estate – mortgage	4,887		732		5,607		85,975		33,837		10,493,594		10,624,632		437
Residential real estate – mortgage	47,936		15,450		1,230		103,492		71,102		13,658,513		13,897,723		(299		)
Equity lines of credit	8,988		4,675		2,411		33,436		—		2,326,898		2,376,408		2,087
Equity loans	6,485		1,807		985		15,104		37,785		549,982		612,148		384
Credit card	5,949		3,621		8,322		—		—		592,090		609,982		6,675
Consumer – direct	16,433		1,988		2,153		635		469		833,311		854,989		6,194
Consumer – indirect	60,018		12,901		4,213		6,053		—		2,818,418		2,901,603		8,970
Covered loans	4,303		3,347		43,039		153		—		407,224		458,066		488
Total loans	$	171,864	$	48,568	$	73,588	$	380,930	$	155,075	$	59,457,196	$	60,287,221	$	28,500
Loans held for sale	$	416	$	380	$	—	$	—	$	—	$	633,362	$	634,158	$	—



	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	$	—

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

	2015												2014
	December 31,			September 30,			June 30,			March 31,			December 31,
Assets:
Cash and due from banks	$	4,121,944		$	3,898,257		$	3,353,177		$	3,664,182		$	2,764,345
Federal funds sold, securities purchased under agreements to resell and interest bearing deposits	330,948			479,207			512,244			300,175			624,060
Cash and cash equivalents	4,452,892			4,377,464			3,865,421			3,964,357			3,388,405
Trading account assets	4,138,132			4,193,506			4,879,125			3,680,427			2,834,397
Investment securities available for sale	11,050,520			10,803,660			10,392,484			10,101,828			10,237,275
Investment securities held to maturity	1,322,676			1,357,801			1,375,075			1,373,542			1,348,354
Loans held for sale	70,582			634,158			195,616			198,488			154,816
Loans	61,324,084			60,287,221			60,007,226			58,558,463			57,371,784
Allowance for loan losses	(762,673		)	(722,122		)	(721,471		)	(701,864		)	(685,041		)
Net loans	60,561,411			59,565,099			59,285,755			57,856,599			56,686,743
Premises and equipment, net	1,320,163			1,309,009			1,315,020			1,332,539			1,351,479
Bank owned life insurance	700,285			697,023			698,773			694,370			694,335
Goodwill	5,043,197			5,060,197			5,060,161			5,046,847			5,046,847
Other intangible assets	31,576			40,701			50,208			60,097			70,784
Other real estate owned	20,862			23,762			20,188			17,764			20,600
Other assets	1,252,784			1,297,620			1,332,923			1,148,883			1,318,392
Total assets	$	89,965,080		$	89,360,000		$	88,470,749		$	85,475,741		$	83,152,427
Liabilities:
Deposits:
Noninterest bearing	$	19,290,266		$	19,060,016		$	19,048,273		$	18,599,702		$	17,169,412
Interest bearing	46,690,264			45,432,380			43,451,096			44,300,979			44,020,304
Total deposits	65,980,530			64,492,396			62,499,369			62,900,681			61,189,716
FHLB and other borrowings	5,438,620			6,216,425			6,778,066			4,919,141			4,809,843
Federal funds purchased and securities sold under agreements to repurchase	750,154			639,259			623,400			909,683			1,129,503
Other short-term borrowings	4,032,644			4,167,897			4,982,154			3,377,694			2,545,724
Accrued expenses and other liabilities	1,185,848			1,463,688			1,360,698			1,206,612			1,474,067
Total liabilities	77,387,796			76,979,665			76,243,687			73,313,811			71,148,853
Shareholder’s Equity:
Preferred Stock	229,475			—			—			—			—
Common stock — $0.01 par value	2,230			2,230			2,230			2,230			2,230
Surplus	15,188,474			15,246,072			15,245,414			15,278,877			15,285,991
Retained deficit	(2,772,614		)	(2,859,770		)	(2,985,011		)	(3,121,071		)	(3,262,181		)
Accumulated other comprehensive loss	(99,307		)	(37,789		)	(64,672		)	(27,654		)	(51,357		)
Total BBVA Compass Bancshares, Inc. shareholder’s equity	12,548,258			12,350,743			12,197,961			12,132,382			11,974,683
Noncontrolling interests	29,026			29,592			29,101			29,548			28,891
Total shareholder’s equity	12,577,284			12,380,335			12,227,062			12,161,930			12,003,574
Total liabilities and shareholder’s equity	$	89,965,080		$	89,360,000		$	88,470,749		$	85,475,741		$	83,152,427

BBVA COMPASS BANCSHARES INCOME STATEMENTS (Unaudited) (In Thousands)

	Three Months Ended
	2015											2014
	December 31			September 30		June 30			March 31			December 31
Interest income:
Interest and fees on loans	$	546,392		$	540,517	$	531,394		$	543,842		$	547,309
Interest on investment securities available for sale	49,066			46,646		48,204			48,208			45,786
Interest on investment securities held to maturity	6,870			6,953		6,924			6,702			6,860
Interest on federal funds sold, securities purchased under agreements to resell and interest bearing deposits	1,591			1,659		1,362			996			566
Interest on trading account assets	13,058			14,431		13,832			9,614			5,696
Total interest income	616,977			610,206		601,716			609,362			606,217
Interest expense:
Interest on deposits	71,342			68,282		65,201			69,653			71,034
Interest on FHLB and other borrowings	22,920			20,422		27,540			19,106			20,010
Interest on federal funds purchased and securities sold under agreements to repurchase	2,856			2,506		1,702			1,326			918
Interest on other short-term borrowings	15,774			11,129		15,291			10,248			4,802
Total interest expense	112,892			102,339		109,734			100,333			96,764
Net interest income	504,085			507,867		491,982			509,029			509,453
Provision for loan losses	76,307			29,151		46,149			42,031			19,914
Net interest income after provision for loan losses	427,778			478,716		445,833			466,998			489,539
Noninterest income:
Service charges on deposit accounts	54,357			54,917		53,690			53,284			56,799
Card and merchant processing fees	28,900			29,024		28,711			26,183			26,432
Retail investment sales	24,040			26,055		26,373			25,146			25,424
Investment banking and advisory fees	20,260			17,842		36,799			30,334			24,228
Asset management fees	8,745			7,918		8,435			8,096			10,813
Corporate and correspondent investment sales	9,710			6,047		7,984			6,259			7,619
Mortgage banking income	5,989			554		12,556			8,159			5,627
Bank owned life insurance	5,135			4,345		4,394			4,788			5,809
Investment securities gains, net	14,689			6,736		27,399			32,832			5,434
Loss on prepayment of FHLB and other borrowings	(1,898		)	—		(3,569		)	(2,549		)	—
Other	65,331			79,938		55,797			56,738			68,033
Total noninterest income	235,258			233,376		258,569			249,270			236,218
Noninterest expense:
Salaries, benefits and commissions	274,863			268,362		268,709			259,262			281,065
FDIC indemnification expense	5,460			8,461		12,419			28,789			34,313
Professional services	63,863			54,784		51,119			46,559			59,027
Equipment	57,493			58,151		57,175			58,141			58,401
Net occupancy	41,122			39,525		40,382			39,280			39,865
Marketing	9,440			10,624		11,618			10,088			5,894
Communications	5,286			5,682		5,245			5,767			6,003
Amortization of intangibles	9,125			9,507		9,889			10,687			24,556
Other	91,233			81,154		63,080			64,146			74,357
Total noninterest expense	557,885			536,250		519,636			522,719			583,481
Net income before income tax expense	105,151			175,842		184,766			193,549			142,276
Income tax expense	17,505			50,110		48,116			51,782			39,864
Net income	87,646			125,732		136,650			141,767			102,412
Less: net income attributable to noncontrolling interests	490			491		590			657			204
Net income attributable to shareholder	$	87,156		$	125,241	$	136,060		$	141,110		$	102,208

BBVA USA Bancshares, Inc. - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - February 3, 2016

Attached files

BBVA USA Bancshares, Inc. Reports