BBVA Compass reports net income of $282 million for the first nine months of 2016

Total revenue increased 2 percent from the prior year for both the three and nine month periods. Net interest income totaled $515 million in the quarter, an increase of 1 percent from prior year levels. The percent net interest margin in the third quarter of 2016 was 2.73 percent, up 3 basis points from a year ago and 7 basis points from second quarter 2016 levels. This improvement reflected the company's focus on spread management and disciplined balance sheet growth.

Noninterest income for the quarter totaled $264 million, an increase of 4 percent compared to $254 million recorded in the third quarter of 2015. Growth was widespread as all major fee-based businesses posted gains, most notably in investment banking and advisory fees and a rebound in mortgage banking income. Expense growth was also well-contained in the quarter with total noninterest expense totaling $556 million, a slight decrease compared to the year ago quarter. On a year-to-date basis, total expenses have increased just 3 percent, reflecting the company's focus on disciplined expense management.

Credit quality metrics remained sound and further reflect the continued active management of our energy portfolio. Provision expense for the quarter totaled $65 million compared to $87 million in the second quarter of 2016 and exceeded net charge-offs by $19 million. Net charge-offs as a percentage of total loans were 30 basis points compared to 43 basis points for the second quarter of 2016. The allowance for loan losses as a percentage of total loans ended the quarter at 1.43 percent, up from the 1.37 percent at the end of the second quarter this year and 1.20 percent at the end of the third quarter a year ago. Nonperforming loans as a percentage of total loans were 1.91 percent compared to 1.76 percent at the end of the second quarter 2016. 

"Our asset quality metrics continue to reflect our commitment to maintaining sound underwriting standards and a strong risk profile," Sánchez said. "This commitment is reflected in the actions we have taken to address the stress on our energy portfolio as a result of a prolonged period of low oil prices. Our energy portfolio totaled $3.3 billion at the end of the quarter, down $410 million compared to second quarter 2016 levels and $829 million compared to first quarter 2016 levels. Our energy portfolio now represents 5.5 percent of our total loan portfolio compared to 6.0 percent at the end of the second quarter this year and 6.7 percent at the end of the first quarter."

Total shareholder's equity ended the third quarter of 2016 at $12.8 billion, a 3 percent increase from $12.4 billion at the end of the third 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 14.18 percent¹ compared to 13.38 percent a year ago and the CET1 ratio rose to 11.28 percent¹ from 10.68 percent¹ at the end of the third quarter of 2015.

¹ Regulatory capital ratios at September 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 2015-2016 list of the Best Banks 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 September 30,				%		Nine Months Ended September 30,				%
		2016		2015 [d]		Change		2016		2015 [d]		Change
EARNINGS SUMMARY
Net interest income		$       514,809		$       507,874		1		$    1,535,929		$    1,508,888		2
Noninterest income [a]		263,765		253,984		4		765,179		756,327		1
Total revenue [a]		778,574		761,858		2		2,301,108		2,265,215		2
Investment securities gain, net		—		6,736		NM		30,037		66,967		(55)
Loss on prepayment of FHLB advances		—		—		NM		—		(6,118)		NM
Provision for loan losses		65,107		29,151		123		265,025		117,331		126
Noninterest expense		556,271		557,375		—		1,689,452		1,636,158		3
Pretax income		157,196		182,068		(14)		376,668		572,575		(34)
Income tax expense		36,845		52,428		(30)		94,548		156,865		(40)
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