BBVA Compass reports net income of $162 million for the first half of 2016

Noninterest income for the quarter totaled $257 million, a decrease of 2 percent compared to $261 million recorded in the second quarter of 2015. In comparison to first quarter 2016 levels, noninterest income increased $12 million as the growth was widespread between most major fee-based businesses. Improved activity levels and market conditions during the quarter were a primary driver of the rebound in investment banking and advisory fees, and corporate and correspondent investment sales. Disciplined expense management helped contain expenses as total noninterest expenses declined $51 million compared to first quarter 2016 levels and were flat compared to second quarter 2015 levels.

Credit quality metrics remained sound despite continued pressure on the energy portfolio. Provision expense for the quarter totaled $87 million compared to $113 million in the first quarter of 2016 and exceeded net charge-offs by $21 million. The allowance for loan losses as a percentage of total loans ended the quarter at 1.37 percent, up from 1.32 percent at the end of the first quarter this year and 1.20 percent in the second quarter a year ago. Nonperforming loans as a percentage of total loans were 1.76 percent compared to 1.41 percent at the end of the first quarter, primarily reflecting the additional reclassification of certain energy credits.

"BBVA Compass is steadfast in its commitment to maintaining sound underwriting standards and a strong risk profile, and the proactive actions we have taken thus far to address our energy portfolio reflect this commitment," Sánchez said. "Total energy loans declined $419 million from first quarter levels and now represent 6 percent of our total loan portfolio, down from 6.7 percent at the end of the first quarter. At the same time, all of our other loan portfolios continue to perform within our expectations. Excluding energy loans, our nonperforming loan ratio was 0.77 percent and net charge-offs were 27 basis points."

"The recently completed stress tests are also further confirmation of our strong capital position, our ability to generate retained earnings and our capacity to absorb significant stress," Sánchez noted. Total shareholder's equity ended the second quarter of 2016 at $12.7 billion, a 4 percent increase from $12.3 billion at the end of the second quarter of 2015. Each of the company's regulatory capital ratios remain significantly above "well-capitalized" guidelines. The total capital ratio ended the quarter at 13.66 percent¹ compared to 13.29 percent a year ago and the CET1 ratio rose to 10.79 percent¹.

During the second quarter, BBVA Compass completed the purchase of four subsidiaries — Bancomer Transfer Services, Bancomer Payment Services, Bancomer Foreign Exchange and Bancomer Financial Services — from BBVA Bancomer USA, Inc. that engage in money transfer services. BBVA Bancomer USA, Inc. is a wholly owned subsidiary of BBVA Bancomer, S.A. (Mexico) and ultimately a wholly-owned subsidiary of BBVA. This transaction was accounted for as a merger of entities under common control and, accordingly, prior period financial information has been retrospectively adjusted to include their historical activity.

In recognizing BBVA Compass as the Best Digital Bank in North America, global finance magazine Euromoney recognized the strides the bank has made in mobile and lauded its efforts to transform its technology and culture in pursuit of exceptional client experiences. The publication also noted the bank's embrace of disrupters and cited its collaborations with Dwolla, FutureAdvisor and eCredable.

^{________________________________}

¹ Regulatory capital ratios at June 30, 2016, are estimated
² 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.

About BBVA Compass

BBVA Compass Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary, BBVA Compass, operates 674 branches, including 345 in Texas, 89 in Alabama, 75 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 Best Digital Bank in North America by global finance magazine Euromoney and 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 is the largest financial institution in Spain and Mexico, and has leading franchises in South America and the Sunbelt region of the United States. It also is the leading shareholder in Garanti, Turkey's largest bank based on market capitalization. Its diversified business is focused on 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 6, 2016, BBVA filed its annual report on Form 20-F for the year ended December 31, 2015, 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, 2015, 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 2, 2016, 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,				%
		2016		2015 [d]		Change		2016		2015 [d]		Change
EARNINGS SUMMARY
Net interest income		$       504,238		$       491,983		2		$    1,021,120		$    1,001,014		2
Noninterest income [a]		256,562		260,552		(2)		501,414		502,343		—
Total revenue [a]		760,800		752,535		1		1,522,534		1,503,357		1
Investment securities gain, net		21,684		27,399		(21)		30,037		60,231		(50)
Loss on prepayment of FHLB advances		—		(3,569)		NM		—		(6,118)		NM
Provision for loan losses		86,673		46,149		88		199,918		88,180		127
Noninterest expense		541,037		539,487		—		1,133,181		1,078,783		5
Pretax income		154,774		190,729		(19)		219,472		390,507		(44)
Income tax expense		32,272		50,335		(36)		57,703		104,437 Werbung Mehr Nachrichten zur Banco Bilbao Vizcaya ADR Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 05:14 - PR Newswire Asia Wealth Group Holdings Ltd - Result of AGM 04:49 - PR Newswire Norges Bank - Form 8.3 - BHP Group Limited 02:00 - PR Newswire BlackRock Throgmorton Trust Plc - Total Voting Rights Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59