HOUSTON, Oct. 30, 2018 /PRNewswire/ --
- Quarterly net income totals $175 million
- Net income up 34 percent from a year ago and 39 percent on a year-to-date basis
- Return on average assets and return on average tangible equity1 for the quarter were 0.77 percent and 8.35 percent, respectively
- Total revenue reaches record level; up 9 percent from prior year levels and 10 percent on a year-to-date basis
- Net interest income increases $69 million or 12 percent from a year ago
- Net interest margin (FTE) increases 14 basis points from prior year and up 21 basis points on a year-to-date basis
- Positive operating leverage results in quarterly operating income1 of $311 million, an increase of 14 percent from the third quarter of 2017
- Balanced loan growth supported by continued deposit generation
- Total loans rise to $64.5 billion, up 7 percent year-over-year
- Newly funded customer loans of $5.9 billion in the quarter bring year-to-date total to $16.0 billion in 2018, up 29 percent from the prior year
- Total deposits of $70.4 billion, up 5 percent from a year ago levels
- Key credit quality metrics show improvement during the quarter
- Nonperforming loan ratio drops to 1.04 percent
- Net charge-off ratio at 45 basis points year-to-date compared to 48 basis points in 2017
- Allowance to loan ratio at 1.36 percent and NPL coverage ratio increases to 130 percent
- BBVA Compass mobile banking app deemed industry leader in two areas
- Recognized for prowess in ease of use and customer service in Javelin Strategy & Research's 2018 Mobile Banking Scorecard
- Marks the fifth consecutive year BBVA Compass mobile banking app has been recognized by the independent research firm
BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $175 million for the third quarter of 2018, a 34 percent increase from the $130 million earned during the third quarter of 2017. Included in third quarter 2017 results is approximately $60 million (pre-tax) of provision expense related to Hurricanes Harvey and Irma. Return on average assets and return on average tangible equity1 for the third quarter of 2018 were 0.77 percent and 8.35 percent, respectively.
Net income for the first nine months of 2018 totaled $568 million, an increase of 39 percent from the $409 million earned during the first nine months of 2017. Return on average assets and return on average tangible equity1 for the first nine months of 2018 were 0.85 percent and 9.28 percent, respectively.
"Results for the quarter continue to reflect the positive underlying trends throughout many of our businesses and allowed us to post record quarterly revenue," said Onur Genç, president and CEO of BBVA Compass. "The increase in net interest income certainly reflects the benefit of higher short-term interest rates, coupled with our ability to expand new and existing loan and deposit relationships with our clients. During the quarter, newly funded loans totaled more than $5.9 billion and for the year exceed $16.0 billion, a 29 percent increase over last year. As we enter the final quarter of 2018, our balance sheet is well-positioned to continue benefiting from higher interest rates, our digital transformation efforts continue to drive new industry-leading product offerings and enhance customer experience, and our team is focused on ending the year on a strong note while building momentum for next year."
Total revenue for the quarter was a record $917 million, an increase of 9 percent from the third quarter of 2017 and up 10 percent on a year-to-date basis. Revenue growth was driven by an increase in net interest income. Net interest income totaled $658 million, an increase of $69 million or 12 percent from the third quarter of 2017. The percent net interest margin in the third quarter of 2018 was 3.27 percent, an increase of 14 basis points from a year ago. On a year-to-date basis, net interest income totaled $1.9 billion, an increase of $198 million or 11 percent while the percentage net interest margin was 3.28 percent, up 21 basis points compared to the same timeframe a year ago.
Noninterest income for the quarter totaled $258 million, an increase of 1 percent compared to the $255 million recorded in the third quarter of 2017. Positive performances in card and merchant processing fees (+37 percent), corporate and correspondent investment sales (+143 percent), service charges on deposit accounts (+8 percent) and mortgage banking (+95 percent) were offset, in part, by a decline in underwriting activity associated with investment banking and advisory fees (-54 percent) and a decline in other income that primarily relates to certain interchange fees that were reclassified to card and merchant processing fees in 2018.
Noninterest expense totaled $606 million, an increase of 5 percent compared to the year ago quarter. On a year-to-date basis, overall expense growth has been well-contained at 3 percent. Maintaining good expense controls, coupled with strong revenue generation, resulted in positive operating leverage in the quarter as operating income totaled $311 million, an increase of $38 million or 14 percent compared to the prior year quarter.
Total loans at the end of the third quarter of 2018 were $64.5 billion, an increase of 7 percent from the $60.4 billion at the end of the third quarter of 2017.
"Loan growth in the quarter was well-balanced between both our commercial and consumer loan portfolios," said Genç. "Commercial growth was driven by a 6 percent increase in C&I lending and consumer growth was paced by a 51 percent increase in direct consumer lending and a 29 percent increase in credit cards, reflecting the success of our fully-digital Express Personal Loan product and revamped credit card offering launched earlier this year."
Total deposits at the end of the third quarter of 2018 were $70.4 billion, a 5 percent increase from the $67.2 billion at the end of the third quarter of 2017. The loan to deposit ratio ended the quarter at 92 percent, up slightly from 90 percent a year ago.
"While increasing activity with our customers and improving our profitability profile has been our primary focal point, we also recognize the importance of being committed to maintaining sound underwriting standards and a strong risk profile," noted Genç.
During the quarter, many of our key credit quality metrics showed improvement. Nonperforming loans as a percentage of total loans were 1.04 percent, down 7 basis points from second quarter 2018 levels and down 14 basis points from the third quarter of 2017. Net charge-offs as a percentage of average loans were 49 basis points in the quarter. On a year-to-date basis, net charge-offs as a percentage of average loans were 45 basis points compared to 48 basis points in the same period a year ago. The allowance for loan losses as a percentage of total loans ended the quarter at 1.36 percent, unchanged from second quarter 2018 levels while the coverage ratio of nonperforming loans rose to 130 percent.
Total shareholder's equity at the end of the third quarter totaled $13.3 billion, a 2 percent increase from $13.1 billion at the end of the third quarter of 2017. The CET1 ratio stood at 12.08 percent2 at the end of the third quarter of 2018, relatively unchanged from a year ago and up 28 basis points from the end of the fourth quarter of 2017. All of BBVA Compass' regulatory capital ratios2 continue to significantly exceed the requirements under "well-capitalized" guidelines.
The BBVA Compass Mobile Banking App was named a leader in both the ease of use and customer service categories in Javelin Strategy & Research's 2018 Mobile Banking Scorecard, marking the fifth consecutive year the app has been recognized as a leader in mobile banking by the independent research firm. Together, the two categories make up more than a third of the weighting of the study, with ease of use being the most critical component. Only three banks are recognized as leaders in each category.
_________________________ |
1 Return on average tangible equity and operating income are non-GAAP financial measures that we believe aid in understanding certain areas of our performance. The calculation of these measures is included on the page titled Non-GAAP Reconciliation. |
2 Regulatory capital ratios at September 30, 2018, are estimated. |
FTE – fully taxable equivalent |
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 645 branches, including 332 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 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 (6th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 6th nationally in the total number of SBA loans originated in fiscal year 2017. 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 (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey's biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it 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. More information about BBVA Group can be found at bbva.com.
On April 5, 2018, BBVA filed its annual report on Form 20-F for the year ended December 31, 2017, with the U.S. Securities and Exchange Commission. A copy can be accessed on the BBVA website at https://shareholdersandinvestors.bbva.com/the-share/adrs-english/. Holders of BBVA's American Depositary Receipts (ADRs) may request a hard copy of the Form 20-F for the year ended December 31, 2017, including complete audited financial statements, free of charge. To request a copy, contact Ed Bilek at [email protected].
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 February 28, 2018, 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, |
% |
||||||||||||||
2018 |
2017 |
Change |
2018 |
2017 |
Change |
||||||||||||
EARNINGS SUMMARY |
|||||||||||||||||
Net interest income |
$ 658,286 |
$ 589,361 |
12 |
$ 1,924,390 |
$ 1,726,622 |
11 |
|||||||||||
Noninterest income [a] |
258,459 |
254,761 |
1 |
786,303 |
745,773 |
5 |
|||||||||||
Total revenue [a] |
916,745 |
844,122 |
9 |
2,710,693 |
2,472,395 |
10 |
|||||||||||
Investment securities gain, net |
— |
3,033 |
NM |
— |
3,033 |
NM |
|||||||||||
Provision for loan losses |
94,964 |
103,434 |
(8) |
243,273 |
228,858 |
6 |
|||||||||||
Noninterest expense |
605,510 |
573,962 |
5 |
1,747,968 |
1,695,759 |
3 |
|||||||||||
Pretax income |
216,271 |
169,759 |
27 |
719,452 |
550,811 |
31 |
|||||||||||
Income tax expense |
41,756 |
39,308 |
6 |
151,849 |
142,097 |
7 |
|||||||||||
Net income |
174,515 |
130,451 |
34 |
567,603 |
408,714 |
39 |
|||||||||||
Net income attributable to noncontrolling interests |
426 |
584 |
(27) |
1,482 |
1,458 |
2 |
|||||||||||
Net income attributable to BBVA Compass Bancshares, Inc. |
$ 174,089 |
$ 129,867 |
34 |
$ 566,121 |
$ 407,256 |
39 |
|||||||||||
SELECTED RATIOS |
|||||||||||||||||
Return on average assets |
0.77 % |
0.59 % |
0.85 % |
0.62 % |
|||||||||||||
Return on average tangible equity [b] |
8.35 |
6.40 |
9.28 |
6.87 |
|||||||||||||
Average common equity to average assets |
14.51 |
14.74 |
14.56 |
14.56 |
|||||||||||||
Average loans to average total deposits |
91.41 |
91.89 |
90.56 |
90.93 |
|||||||||||||
Common equity tier I capital (CET1) [c] |
12.08 |
12.07 |
12.08 |
12.07 |
|||||||||||||
Tier I capital ratio [c] |
12.41 |
12.42 |
12.41 |
12.42 |
|||||||||||||
Total capital ratio [c] |
14.58 |
14.63 |
14.58 |
14.63 |
|||||||||||||
Leverage ratio [c] |
10.12 |
10.00 |
10.12 |
10.00 |
|||||||||||||
Average for Three Months |
Average for Nine Months |
Ending Balance |
|||||||||||||||
Ended September 30, |
% |
Ended September 30, |
% |
September 30, |
% |
||||||||||||
2018 |
2017 |
Change |
2018 |
2017 |
Change |
2018 |
2017 |
Change |
|||||||||
BALANCE SHEET HIGHLIGHTS |
|||||||||||||||||
Total loans |
$ 64,316,342 |
$ 60,271,504 |
7 |
$ 63,247,623 |
$ 60,166,823 |
5 |
$ 64,530,848 |
$ 60,392,987 |
7 |
||||||||
Total debt securities |
13,480,726 |
12,883,837 |
5 |
13,336,448 |
12,666,227 |
5 |
13,625,428 |
12,897,814 |
6 |
||||||||
Earning assets |
81,095,701 |
77,344,927 |
5 |
79,758,194 |
77,927,326 |
2 |
81,212,434 |
76,768,653 |
6 |
||||||||
Total assets |
90,118,668 |
87,299,979 |
3 |
88,982,476 |
87,482,356 |
2 |
90,047,656 |
85,683,660 |
5 |
||||||||
Noninterest bearing demand deposits |
20,990,763 |
21,072,789 |
— |
21,282,629 |
20,922,150 |
2 |
20,968,391 |
21,094,235 |
(1) |
||||||||
Interest bearing transaction accounts |
34,463,223 |
32,108,141 |
7 |
34,000,590 |
32,689,955 |
4 |
34,732,504 |
32,637,845 |
6 |
||||||||
Total transaction accounts |
55,453,986 |
53,180,930 |
4 |
55,283,219 |
53,612,105 |
3 |
55,700,895 |
53,732,080 |
4 |
||||||||
Total deposits |
70,363,598 |
65,589,724 |
7 |
69,844,006 |
66,166,611 |
6 |
70,378,057 |
67,213,567 |
5 |
||||||||
Total shareholder's equity |
13,334,169 |
13,130,915 |
2 |
13,215,032 |
12,997,116 |
2 |
13,342,487 |
13,115,903 |
2 |
||||||||
[a] Excludes net gain on sales of investment securities. |
[b] 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. |
[c] Current period regulatory capital ratios are estimated. |
NM = Not meaningful |
BBVA COMPASS BANCSHARES, INC. |
|||||||||
(Unaudited) |
|||||||||
(Dollars in Thousands) |
|||||||||
2018 |
2017 |
||||||||
September 30 |
June 30 |
March 31 |
December 31 |
September 30 |
|||||
NONPERFORMING ASSETS |
|||||||||
Nonaccrual loans [a] |
$ 628,159 |
$662,991 |
$647,210 |
$ 658,865 |
$ 666,812 |
||||
Loans 90 days or more past due [b] |
44,765 |
39,143 |
45,904 |
58,378 |
43,049 |
||||
TDRs 90 days or more past due |
444 |
491 |
700 |
751 |
963 |
||||
Total nonperforming loans [a] |
673,368 |
702,625 |
693,814 |
717,994 |
710,824 |
||||
Other real estate owned, net (OREO) |
18,706 |
16,499 |
16,147 |
17,278 |
22,012 |
||||
Other repossessed assets |
9,875 |
13,117 |
11,278 |
13,473 |
11,443 |
||||
Total nonperforming assets |
$ 701,949 |
$732,241 |
$721,239 |
$ 748,745 |
$ 744,279 |
||||
TDRs accruing and past due less than 90 days |
$ 92,606 |
$ 99,251 |
$101,285 |
$ 100,492 |
$ 95,521 |
||||
Total nonperforming loans as a % of loans |
1.04 % |
1.11 % |
1.11 % |
1.16 % |
1.18 % |
||||
Total nonperforming assets as a % of total loans, other real estate, and other repossessed assets |
1.09 |
1.16 |
1.16 |
1.21 |
1.23 |
||||
Three Months Ended |
|||||||||
2018 |
2017 |
||||||||
September 30 |
June 30 |
March 31 |
December 31 |
September 30 |
|||||
ALLOWANCE FOR LOAN LOSSES |
|||||||||
Balance at beginning of period |
$ 860,000 |
$832,071 |
$842,760 |
$ 849,119 |
$ 816,952 |
||||
Net charge-offs (NCO) |
79,571 |
63,351 |
67,718 |
65,194 |
71,267 |
||||
Provision for loan losses |
94,964 |
91,280 |
57,029 |
58,835 |
103,434 |
||||
Balance at end of period |
$ 875,393 |
$860,000 |
$832,071 |
$ 842,760 |
$ 849,119 |
||||
Allowance for loan losses as a % of total loans |
1.36 % |
1.36 % |
1.34 % |
1.37 % |
1.41 % |
||||
Allowance for loan losses as a % of nonperforming loans [c] |
130.00 |
122.40 |
119.93 |
117.38 |
119.46 |
||||
Allowance for loan losses as a % of nonperforming assets [c] |
124.71 |
117.45 |
115.37 |
112.56 |
114.09 |
||||
Annualized as a % of average loans: |
|||||||||
NCO - QTD |
0.49 |
0.40 |
0.44 |
0.42 |
0.47 |
||||
NCO - YTD |
0.45 |
0.42 |
0.44 |
0.47 |
0.48 |
||||
[a] Includes loans held for sale. |
[b] Excludes loans classified as troubled debt restructuring (TDRs). |
[c] Includes loans held for sale that are on nonaccrual status. |
BBVA COMPASS BANCSHARES, INC. |
|||||||||||
(Unaudited) |
|||||||||||
(Dollars in Thousands) |
|||||||||||
Three Months Ended September 30, |
|||||||||||
2018 |
2017 |
||||||||||
Average |
Income/ |
Yield/ |
Average |
Income/ |
Yield/ |
||||||
YIELD/RATE ANALYSIS |
|||||||||||
(Taxable Equivalent Basis) |
|||||||||||
Assets |
|||||||||||
Earning assets: |
|||||||||||
Loans |
$64,316,342 |
$763,165 |
4.71 % |
$60,271,504 |
$642,670 |
4.23 % |
|||||
Debt securities available for sale [a] |
11,416,609 |
53,201 |
1.85 |
11,837,526 |
50,608 |
1.70 |
|||||
Debt securities held to maturity |
2,360,654 |
17,548 |
2.95 |
1,122,893 |
10,088 |
3.56 |
|||||
Other earning assets [b] |
3,298,633 |
18,282 |
2.20 |
4,189,586 |
21,135 |
2.00 |
|||||
Total earning assets [a] |
81,392,238 |
852,196 |
4.15 |
77,421,509 |
724,501 |
3.71 |
|||||
Allowance for loan losses |
(866,131) |
(821,227) |
|||||||||
Unrealized loss on debt securities available for sale |
(296,537) |
(76,582) |
|||||||||
Other assets |
9,889,098 |
10,776,279 |
|||||||||
Total assets |
$90,118,668 |
$87,299,979 |
|||||||||
Liabilities and Shareholder's Equity |
|||||||||||
Interest bearing liabilities: |
|||||||||||
Interest bearing demand deposits |
$ 7,703,562 |
$ 12,644 |
0.65 |
$ 7,557,010 |
$ 6,819 |
0.36 |
|||||
Savings and money market accounts |
26,759,661 |
63,796 |
0.95 |
24,551,131 |
27,962 |
0.45 |
|||||
Certificates and other time deposits |
14,909,612 |
63,458 |
1.69 |
12,408,794 |
40,302 |
1.29 |
|||||
Total interest bearing deposits |
49,372,835 |
139,898 |
1.12 |
44,516,935 |
75,083 |
0.67 |
|||||
FHLB and other borrowings |
4,412,717 |
37,131 |
3.34 |
5,053,340 |
29,904 |
2.35 |
|||||
Federal funds purchased and securities sold under agreement to repurchase [b] |
172,277 |
3,169 |
7.30 |
52,034 |
4,623 |
35.25 |
|||||
Other short-term borrowings |
77,413 |
579 |
2.97 |
1,386,329 |
3,641 |
1.04 |
|||||
Total interest bearing liabilities |
54,035,242 |
180,777 |
1.33 |
51,008,638 |
113,251 |
0.88 |
|||||
Noninterest bearing deposits |
20,990,763 |
21,072,789 |
|||||||||
Other noninterest bearing liabilities |
1,758,494 |
2,087,637 |
|||||||||
Total liabilities |
76,784,499 |
74,169,064 |
|||||||||
Shareholder's equity |
13,334,169 |
13,130,915 |
|||||||||
Total liabilities and shareholder's equity |
$90,118,668 |
$87,299,979 |
|||||||||
Net interest income/ net interest spread |
671,419 |
2.82 % |
611,250 |
2.83 % |
|||||||
Net yield on earning assets |
3.27 % |
3.13 % |
|||||||||
Total taxable equivalent adjustment |
13,133 |
21,889 |
|||||||||
Net interest income |
$658,286 |
$589,361 |
|||||||||
[a] Excludes adjustment for market valuation. |
[b] Yield/rate reflects impact of balance sheet offsetting. |
BBVA COMPASS BANCSHARES, INC. |
|||||||||||
(Unaudited) |
|||||||||||
(Dollars in Thousands) |
|||||||||||
Nine Months Ended September 30, |
|||||||||||
2018 |
2017 |
||||||||||
Average |
Income/ |
Yield/ |
Average |
Income/ |
Yield/ |
||||||
YIELD/RATE ANALYSIS |
|||||||||||
(Taxable Equivalent Basis) |
|||||||||||
Assets |
|||||||||||
Earning assets: |
|||||||||||
Loans |
$63,247,623 |
$2,160,341 |
4.57 % |
$60,166,823 |
$1,859,740 |
4.13 % |
|||||
Debt securities available for sale [a] |
11,458,832 |
163,598 |
1.91 |
11,626,864 |
155,840 |
1.79 |
|||||
Debt securities held to maturity |
2,149,928 |
45,971 |
2.86 |
1,141,894 |
29,620 |
3.47 |
|||||
Other earning assets [b] |
3,174,123 |
46,748 |
1.97 |
5,094,276 |
67,863 |
1.78 |
|||||
Total earning assets [a] |
80,030,506 |
2,416,658 |
4.04 |
78,029,857 |
2,113,063 |
3.62 |
|||||
Allowance for loan losses |
(850,392) |
(835,915) |
|||||||||
Unrealized loss on debt securities available for sale |
(272,312) |
(102,531) |
|||||||||
Other assets |
10,074,674 |
10,390,945 |
|||||||||
Total assets |
$88,982,476 |
$87,482,356 |
|||||||||
Liabilities and Shareholder's Equity |
|||||||||||
Interest bearing liabilities: |
|||||||||||
Interest bearing demand deposits |
$ 7,946,242 |
33,250 |
0.56 |
$ 7,863,401 |
19,211 |
0.33 |
|||||
Savings and money market accounts |
26,054,348 |
151,479 |
0.78 |
24,826,554 |
72,643 |
0.39 |
|||||
Certificates and other time deposits |
14,560,787 |
168,839 |
1.55 |
12,554,506 |
119,447 |
1.27 |
|||||
Total interest bearing deposits |
48,561,377 |
353,568 |
0.97 |
45,244,461 |
211,301 |
0.62 |
|||||
FHLB and other borrowings |
3,903,295 |
93,799 |
3.21 |
4,115,511 |
71,422 |
2.32 |
|||||
Federal funds purchased and securities sold under agreement to repurchase [b] |
100,045 |
5,104 |
6.82 |
64,676 |
16,462 |
34.03 |
|||||
Other short-term borrowings |
69,242 |
1,490 |
2.88 |
2,239,427 |
24,233 |
1.45 |
|||||
Total interest bearing liabilities |
52,633,959 |
453,961 |
1.15 |
51,664,075 |
323,418 |
0.84 |
|||||
Noninterest bearing deposits |
21,282,629 |
20,922,150 |
|||||||||
Other noninterest bearing liabilities |
1,850,856 |
1,899,015 |
|||||||||
Total liabilities |
75,767,444 |
74,485,240 |
|||||||||
Shareholder's equity |
13,215,032 |
12,997,116 |
|||||||||
Total liabilities and shareholder's equity |
$88,982,476 |
$87,482,356 |
|||||||||
Net interest income/ net interest spread |
1,962,697 |
2.89 % |
1,789,645 |
2.78 % |
|||||||
Net yield on earning assets |
3.28 % |
3.07 % |
|||||||||
Total taxable equivalent adjustment |
38,307 |
63,023 |
|||||||||
Net interest income |
$1,924,390 |
$1,726,622 |
|||||||||
[a] Excludes adjustment for market valuation. |
[b] Yield/rate reflects impact of balance sheet offsetting. |
BBVA COMPASS BANCSHARES, INC. |
|||||||||||||||
(Unaudited) |
|||||||||||||||
(Dollars in Thousands) |
|||||||||||||||
Nine Months |
Three Months Ended |
||||||||||||||
Ended September 30, |
% |
2018 |
2017 |
||||||||||||
2018 |
2017 |
Change |
September 30 |
June 30 |
March 31 |
December 31 |
September 30 |
||||||||
NONINTEREST INCOME |
|||||||||||||||
Service charges on deposit accounts |
$ 175,067 |
$ 166,040 |
5 |
$ 60,325 |
$ 58,581 |
$ 56,161 |
$ 56,070 |
$ 55,953 |
|||||||
Card and merchant processing fees |
127,945 |
94,749 |
35 |
44,219 |
44,048 |
39,678 |
33,380 |
32,297 |
|||||||
Retail investment sales |
88,176 |
82,876 |
6 |
28,286 |
29,782 |
30,108 |
26,338 |
26,817 |
|||||||
Investment banking and advisory fees |
62,398 |
78,744 |
(21) |
13,956 |
24,546 |
23,896 |
24,957 |
30,500 |
|||||||
Money transfer income |
68,049 |
77,408 |
(12) |
23,441 |
23,920 |
20,688 |
24,101 |
24,881 |
|||||||
Corporate and correspondent investment sales |
40,901 |
26,249 |
56 |
12,490 |
16,355 |
12,056 |
11,803 |
5,145 |
|||||||
Asset management fees |
32,902 |
30,162 |
9 |
11,143 |
10,989 |
10,770 |
10,303 |
10,336 |
|||||||
Mortgage banking |
23,078 |
9,636 |
139 |
6,717 |
7,964 |
8,397 |
4,720 |
3,450 |
|||||||
Bank owned life insurance |
13,187 |
12,711 |
4 |
4,597 |
4,375 |
4,215 |
4,397 |
4,322 |
|||||||
Other |
154,600 |
167,198 |
(8) |
53,285 |
49,459 |
51,856 |
101,100 |
61,060 |
|||||||
786,303 |
745,773 |
5 |
258,459 |
270,019 |
257,825 |
297,169 |
254,761 |
||||||||
Investment securities gains, net |
— |
3,033 |
— |
— |
— |
— |
— |
3,033 |
|||||||
Total noninterest income |
$ 786,303 |
$ 748,806 |
5 |
$ 258,459 |
$270,019 |
$257,825 |
$ 297,169 |
$ 257,794 |
|||||||
NONINTEREST EXPENSE |
|||||||||||||||
Salaries, benefits and commissions |
$ 868,971 |
$ 835,825 |
4 |
$ 292,679 |
$286,852 |
$289,440 |
$ 296,146 |
$ 279,384 |
|||||||
Equipment |
190,759 |
184,691 |
3 |
63,739 |
63,660 |
63,360 |
63,200 |
60,656 |
|||||||
Professional services |
197,625 |
187,422 |
5 |
68,403 |
68,577 |
60,645 |
76,068 |
64,775 |
|||||||
Net occupancy |
125,607 |
125,568 |
— |
42,514 |
42,671 |
40,422 |
41,125 |
42,227 |
|||||||
Money transfer expense |
46,143 |
50,069 |
(8) |
16,120 |
16,302 |
13,721 |
15,721 |
15,938 |
|||||||
Marketing |
32,982 |
44,270 |
(25) |
12,381 |
11,814 |
8,787 |
7,950 |
14,996 |
|||||||
Communications |
21,341 |
15,584 |
37 |
10,827 |
5,251 |
5,263 |
4,970 |
5,084 |
|||||||
Other |
264,540 |
252,330 |
5 |
98,847 |
84,418 |
81,275 |
110,648 |
90,902 |
|||||||
Total noninterest expense |
$1,747,968 |
$1,695,759 |
3 |
$ 605,510 |
$579,545 |
$562,913 |
$ 615,828 |
$ 573,962 |
|||||||
NM = Not meaningful |
BBVA COMPASS BANCSHARES, INC. |
|||||||
(Unaudited) |
|||||||
(Dollars in Thousands) |
|||||||
Three Months Ended September 30, |
Nine Months Ended September 30, |
||||||
2018 |
2017 |
2018 |
2017 |
||||
NON-GAAP RECONCILIATION |
|||||||
Computation of Operating Income: |
|||||||
Net interest income (GAAP) |
$ 658,286 |
$ 589,361 |
$ 1,924,390 |
$ 1,726,622 |
|||
Plus: noninterest income (GAAP) |
258,459 |
257,794 |
786,303 |
748,806 |
|||
Less: noninterest expense (GAAP) |
605,510 |
573,962 |
1,747,968 |
1,695,759 |
|||
Operating income (non-GAAP) |
$ 311,235 |
$ 273,193 |
$ 962,725 |
$ 779,669 |
|||
Computation of Average Tangible Equity: |
|||||||
Total stockholder's equity (average) (GAAP) |
$ 13,334,169 |
$ 13,130,915 |
$ 13,215,032 |
$ 12,997,116 |
|||
Less: Goodwill and other intangibles (average) (GAAP) |
5,040,018 |
5,041,385 |
5,040,016 |
5,045,419 |
|||
Average tangible equity (non-GAAP) [B] |
$ 8,294,151 |
$ 8,089,530 |
$ 8,175,016 |
$ 7,951,697 |
|||
Net income (GAAP) [A] |
$ 174,515 |
$ 130,451 |
$ 567,603 |
$ 408,714 |
|||
Return on average tangible equity (non-GAAP) ([A]/[B], annualized) |
8.35 % |
6.40 % |
9.28 % |
6.87 % |
|||
BBVA COMPASS BANCSHARES, INC. |
|||||||||||||||
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) |
|||||||||||||||
(Dollars in Thousands) |
|||||||||||||||
At or Quarter Ended September 30, 2018 |
|||||||||||||||
30-59 Days Past Due |
60-89 Days Past Due |
90 Days or More Past |
Nonaccrual |
Accruing TDRs |
Not Past Due or |
Total |
Net Charge Offs |
||||||||
Commercial, financial and agricultural |
$ 38,512 |
$ 16,416 |
$ 9,609 |
$ 290,239 |
$ 522 |
$ 26,300,781 |
$ 26,656,079 |
$ 13,975 |
|||||||
Real estate – construction |
3,252 |
5,278 |
532 |
12,882 |
121 |
2,096,427 |
2,118,492 |
(23) |
|||||||
Commercial real estate – mortgage |
31,792 |
18,349 |
502 |
104,976 |
3,753 |
12,237,632 |
12,397,004 |
2,035 |
|||||||
Residential real estate – mortgage |
87,426 |
30,373 |
3,697 |
159,721 |
59,082 |
13,062,173 |
13,402,472 |
2,090 |
|||||||
Equity lines of credit |
13,556 |
4,298 |
1,186 |
35,125 |
— |
2,655,566 |
2,709,731 |
(19) |
|||||||
Equity loans |
2,082 |
1,042 |
241 |
10,378 |
28,383 |
266,712 |
308,838 |
45 |
|||||||
Credit card |
8,601 |
6,449 |
13,157 |
— |
— |
735,479 |
763,686 |
9,686 |
|||||||
Consumer – direct |
30,153 |
14,455 |
8,988 |
3,184 |
1,189 |
2,364,239 |
2,422,208 |
28,765 |
|||||||
Consumer – indirect |
86,310 |
23,587 |
6,853 |
11,654 |
— |
3,550,365 |
3,678,769 |
23,017 |
|||||||
Covered loans |
— |
— |
— |
— |
— |
— |
— |
— |
|||||||
Total loans |
$ 301,684 |
$ 120,247 |
$ 44,765 |
$ 628,159 |
$ 93,050 |
$ 63,269,374 |
$ 64,457,279 |
$ 79,571 |
|||||||
Loans held for sale |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 73,569 |
$ 73,569 |
$ — |
|||||||
At or Quarter Ended June 30, 2018 |
|||||||||||||||
30-59 Days Past Due |
60-89 Days Past Due |
90 Days or More Past |
Nonaccrual |
Accruing TDRs |
Not Past Due or |
Total |
Net Charge Offs |
||||||||
Commercial, financial and agricultural |
$ 55,116 |
$ 12,405 |
$ 3,597 |
$ 323,287 |
$ 5,722 |
$ 26,248,260 |
$ 26,648,387 |
$ 10,567 |
|||||||
Real estate – construction |
579 |
163 |
540 |
13,289 |
125 |
2,115,565 |
2,130,261 |
287 |
|||||||
Commercial real estate – mortgage |
20,450 |
2,826 |
3,211 |
105,409 |
3,945 |
11,659,635 |
11,795,476 |
(5,505) |
|||||||
Residential real estate – mortgage |
76,693 |
27,972 |
5,026 |
162,892 |
59,940 |
13,017,967 |
13,350,490 |
1,558 |
|||||||
Equity lines of credit |
10,661 |
4,384 |
2,191 |
34,269 |
237 |
2,627,974 |
2,679,716 |
453 |
|||||||
Equity loans |
3,519 |
882 |
306 |
10,153 |
29,303 |
281,302 |
325,465 |
(443) |
|||||||
Credit card |
6,353 |
4,733 |
11,931 |
— |
— |
681,617 |
704,634 |
11,299 |
|||||||
Consumer – direct |
24,060 |
9,577 |
6,313 |
1,073 |
470 |
2,098,439 |
2,139,932 |
29,876 |
|||||||
Consumer – indirect |
79,600 |
22,616 |
6,028 |
12,619 |
— |
3,395,753 |
3,516,616 |
15,259 |
|||||||
Covered loans |
— |
— |
— |
— |
— |
— |
— |
— |
|||||||
Total loans |
$ 277,031 |
$ 85,558 |
$ 39,143 |
$ 662,991 |
$ 99,742 |
$ 62,126,512 |
$ 63,290,977 |
$ 63,351 |
|||||||
Loans held for sale |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 52,041 |
$ 52,041 |
$ — |
|||||||
BBVA COMPASS BANCSHARES, INC. |
|||||||||||||||
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) |
|||||||||||||||
(Dollars in Thousands) |
|||||||||||||||
At or Quarter Ended March 31, 2018 |
|||||||||||||||
30-59 Days Past Due |
60-89 Days Past Due |
90 Days or More Past |
Nonaccrual |
Accruing TDRs |
Not Past Due or |
Total |
Net Charge Offs |
||||||||
Commercial, financial and agricultural |
$ 15,427 |
$ 12,230 |
$ 5,420 |
$ 284,699 |
$ 5,231 |
$ 26,036,120 |
$ 26,359,127 |
$ 8,395 |
|||||||
Real estate – construction |
450 |
240 |
1,918 |
14,183 |
129 |
2,139,936 |
2,156,856 |
(89) |
|||||||
Commercial real estate – mortgage |
8,552 |
3,220 |
2,229 |
115,285 |
4,182 |
11,394,819 |
11,528,287 |
114 |
|||||||
Residential real estate – mortgage |
73,335 |
33,993 |
5,975 |
169,778 |
62,171 |
12,961,735 |
13,306,987 |
1,380 |
|||||||
Equity lines of credit |
12,063 |
4,611 |
2,371 |
36,350 |
236 |
2,602,229 |
2,657,860 |
160 |
|||||||
Equity loans |
4,495 |
983 |
379 |
11,429 |
29,546 |
297,705 |
344,537 |
(69) |
|||||||
Credit card |
6,438 |
5,089 |
11,845 |
— |
— |
633,658 |
657,030 |
9,874 |
|||||||
Consumer – direct |
16,919 |
8,569 |
7,929 |
4,211 |
490 |
1,818,325 |
1,856,443 |
25,412 |
|||||||
Consumer – indirect |
77,153 |
21,092 |
7,838 |
11,275 |
— |
3,223,376 |
3,340,734 |
22,541 |
|||||||
Covered loans |
— |
— |
— |
— |
— |
— |
— |
— |
|||||||
Total loans |
$ 214,832 |
$ 90,027 |
$ 45,904 |
$ 647,210 |
$ 101,985 |
$ 61,107,903 |
$ 62,207,861 |
$ 67,718 |
|||||||
Loans held for sale |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 76,401 |
$ 76,401 |
$ — |
|||||||
At or Quarter Ended December 31, 2017 |
|||||||||||||||
30-59 Days Past Due |
60-89 Days Past Due |
90 Days or More Past |
Nonaccrual |
Accruing TDRs |
Not Past Due or |
Total |
Net Charge Offs |
||||||||
Commercial, financial and agricultural |
$ 14,804 |
$ 3,753 |
$ 18,136 |
$ 310,059 |
$ 1,213 |
$ 25,401,984 |
$ 25,749,949 |
$ 13,320 |
|||||||
Real estate – construction |
12,293 |
70 |
1,560 |
5,381 |
101 |
2,254,134 |
2,273,539 |
(115) |
|||||||
Commercial real estate – mortgage |
10,473 |
3,270 |
927 |
111,982 |
4,155 |
11,593,351 |
11,724,158 |
417 |
|||||||
Residential real estate – mortgage |
69,474 |
34,440 |
8,572 |
173,843 |
64,898 |
13,014,520 |
13,365,747 |
290 |
|||||||
Equity lines of credit |
10,956 |
7,556 |
2,259 |
34,021 |
237 |
2,598,076 |
2,653,105 |
871 |
|||||||
Equity loans |
4,170 |
657 |
995 |
11,559 |
30,105 |
315,778 |
363,264 |
87 |
|||||||
Credit card |
6,710 |
4,804 |
11,929 |
— |
— |
616,074 |
639,517 |
9,048 |
|||||||
Consumer – direct |
19,766 |
7,020 |
6,712 |
2,425 |
534 |
1,653,926 |
1,690,383 |
19,551 |
|||||||
Consumer – indirect |
92,017 |
26,460 |
7,288 |
9,595 |
— |
3,028,746 |
3,164,106 |
21,725 |
|||||||
Covered loans |
— |
— |
— |
— |
— |
— |
— |
— |
|||||||
Total loans |
$ 240,663 |
$ 88,030 |
$ 58,378 |
$ 658,865 |
$ 101,243 |
$ 60,476,589 |
$ 61,623,768 |
$ 65,194 |
|||||||
Loans held for sale |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 67,110 |
$ 67,110 |
$ — |
|||||||
BBVA COMPASS BANCSHARES, INC. |
|||||||||||||||
SUPPLEMENTAL LOAN PORTFOLIO INFORMATION (Unaudited) |
|||||||||||||||
(Dollars in Thousands) |
|||||||||||||||
At or Quarter Ended September 30, 2017 |
|||||||||||||||
30-59 Days Past Due |
60-89 Days Past Due |
90 Days or More Past |
Nonaccrual |
Accruing TDRs |
Not Past Due or |
Total |
Net Charge Offs |
||||||||
Commercial, financial and agricultural |
$ 51,581 |
$ 6,351 |
$ 6,072 |
$ 324,071 |
$ 1,259 |
$ 24,702,608 |
$ 25,091,942 |
$ 14,695 |
|||||||
Real estate – construction |
661 |
94 |
2,955 |
1,877 |
106 |
2,241,451 |
2,247,144 |
(29) |
|||||||
Commercial real estate – mortgage |
21,324 |
1,089 |
3,686 |
108,040 |
4,645 |
11,203,594 |
11,342,378 |
7,707 |
|||||||
Residential real estate – mortgage |
57,582 |
32,606 |
2,558 |
175,490 |
59,086 |
13,071,181 |
13,398,503 |
1,717 |
|||||||
Equity lines of credit |
11,118 |
4,824 |
2,179 |
34,416 |
237 |
2,564,538 |
2,617,312 |
179 |
|||||||
Equity loans |
3,470 |
1,798 |
840 |
11,305 |
30,574 |
335,389 |
383,376 |
(7) |
|||||||
Credit card |
6,832 |
4,777 |
10,692 |
— |
— |
568,674 |
590,975 |
10,591 |
|||||||
Consumer – direct |
17,563 |
6,796 |
5,209 |
2,746 |
577 |
1,571,505 |
1,604,396 |
18,281 |
|||||||
Consumer – indirect |
81,534 |
23,070 |
8,858 |
8,867 |
— |
2,916,849 |
3,039,178 |
18,133 |
|||||||
Covered loans |
— |
— |
— |
— |
— |
— |
— |
— |
|||||||
Total loans |
$ 251,665 |
$ 81,405 |
$ 43,049 |
$ 666,812 |
$ 96,484 |
$ 59,175,789 |
$ 60,315,204 |
$ 71,267 |
|||||||
Loans held for sale |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 77,783 |
$ 77,783 |
$ — |
|||||||
BBVA COMPASS BANCSHARES, INC. |
|||||||||
BALANCE SHEET (Unaudited) |
|||||||||
(Dollars in Thousands) |
|||||||||
2018 |
2017 |
||||||||
September 30 |
June 30 |
March 31 |
December 31 |
September 30 |
|||||
Assets: |
|||||||||
Cash and due from banks |
$ 1,122,747 |
$ 1,138,034 |
$ 1,098,345 |
$ 1,313,022 |
$ 1,145,745 |
||||
Federal funds sold, securities purchased under agreements to resell and interest bearing deposits |
2,404,164 |
2,438,585 |
2,424,987 |
2,769,804 |
2,588,913 |
||||
Cash and cash equivalents |
3,526,911 |
3,576,619 |
3,523,332 |
4,082,826 |
3,734,658 |
||||
Trading account assets |
216,749 |
277,694 |
216,465 |
220,496 |
572,104 |
||||
Debt securities available for sale |
11,134,860 |
11,293,724 |
11,434,152 |
12,219,632 |
11,820,442 |
||||
Debt securities held to maturity |
2,490,568 |
2,198,186 |
1,975,729 |
1,046,093 |
1,077,372 |
||||
Loans held for sale |
73,569 |
52,041 |
76,401 |
67,110 |
77,783 |
||||
Loans |
64,457,279 |
63,290,977 |
62,207,861 |
61,623,768 |
60,315,204 |
||||
Allowance for loan losses |
(875,393) |
(860,000) |
(832,071) |
(842,760) |
(849,119) |
||||
Net loans |
63,581,886 |
62,430,977 |
61,375,790 |
60,781,008 |
59,466,085 |
||||
Premises and equipment, net |
1,155,795 |
1,170,798 |
1,189,253 |
1,214,874 |
1,226,747 |
||||
Bank owned life insurance |
731,527 |
728,703 |
724,600 |
722,596 |
720,693 |
||||
Goodwill |
4,983,296 |
4,983,296 |
4,983,296 |
4,983,296 |
4,983,296 |
||||
Other assets |
2,152,495 |
2,042,624 |
2,109,484 |
1,982,648 |
2,004,480 |
||||
Total assets |
$ 90,047,656 |
$ 88,754,662 |
$ 87,608,502 |
$ 87,320,579 |
$ 85,683,660 |
||||
Liabilities: |
|||||||||
Deposits: |
|||||||||
Noninterest bearing |
$ 20,968,391 |
$ 21,433,218 |
$ 21,792,498 |
$ 21,630,694 |
$ 21,094,235 |
||||
Interest bearing |
49,409,666 |
48,714,490 |
48,147,914 |
47,625,619 |
46,119,332 |
||||
Total deposits |
70,378,057 |
70,147,708 |
69,940,412 |
69,256,313 |
67,213,567 |
||||
FHLB and other borrowings |
5,045,302 |
4,157,284 |
3,322,940 |
3,959,930 |
3,956,041 |
||||
Federal funds purchased and securities sold under agreements to repurchase |
78,004 |
185,511 |
5,933 |
19,591 |
44,761 |
||||
Other short-term borrowings |
68,714 |
81,547 |
29,999 |
17,996 |
327,539 |
||||
Accrued expenses and other liabilities |
1,135,092 |
991,968 |
1,165,079 |
1,053,439 |
1,025,849 |
||||
Total liabilities |
76,705,169 |
75,564,018 |
74,464,363 |
74,307,269 |
72,567,757 |
||||
Shareholder's Equity: |
|||||||||
Preferred stock |
229,475 |
229,475 |
229,475 |
229,475 |
229,475 |
||||
Common stock — $0.01 par value |
2,230 |
2,230 |
2,230 |
2,230 |
2,230 |
||||
Surplus |
14,695,197 |
14,699,773 |
14,814,744 |
14,818,608 |
14,912,412 |
||||
Retained deficit |
(1,302,525) |
(1,476,614) |
(1,660,417) |
(1,868,659) |
(1,920,184) |
||||
Accumulated other comprehensive loss |
(311,422) |
(293,323) |
(271,431) |
(197,405) |
(137,583) |
||||
Total BBVA Compass Bancshares, Inc. shareholder's equity |
13,312,955 |
13,161,541 |
13,114,601 |
12,984,249 |
13,086,350 |
||||
Noncontrolling interests |
29,532 |
29,103 |
29,538 |
29,061 |
29,553 |
||||
Total shareholder's equity |
13,342,487 |
13,190,644 |
13,144,139 |
13,013,310 |
13,115,903 |
||||
Total liabilities and shareholder's equity |
$ 90,047,656 |
$ 88,754,662 |
$ 87,608,502 |
$ 87,320,579 |
$ 85,683,660 |
||||
BBVA COMPASS BANCSHARES, INC. |
|||||||||
INCOME STATEMENT (Unaudited) |
|||||||||
(Dollars in Thousands) |
|||||||||
Three Months Ended |
|||||||||
2018 |
2017 |
||||||||
September 30 |
June 30 |
March 31 |
December 31 |
September 30 |
|||||
Interest income: |
|||||||||
Interest and fees on loans |
$ 751,470 |
$ 711,006 |
$ 663,935 |
$ 641,322 |
$ 623,884 |
||||
Interest on debt securities available for sale |
53,201 |
53,792 |
56,602 |
56,883 |
50,599 |
||||
Interest on debt securities held to maturity |
16,110 |
13,062 |
12,426 |
6,555 |
6,994 |
||||
Interest on trading account assets |
833 |
924 |
750 |
1,005 |
6,247 |
||||
Interest on other earning assets |
17,449 |
14,916 |
11,875 |
10,843 |
14,888 |
||||
Total interest income |
839,063 |
793,700 |
745,588 |
716,608 |
702,612 |
||||
Interest expense: |
|||||||||
Interest on deposits |
139,898 |
116,323 |
97,347 |
88,016 |
75,083 |
||||
Interest on FHLB and other borrowings |
37,131 |
31,912 |
24,756 |
22,392 |
29,904 |
||||
Interest on federal funds purchased and securities sold under agreements to repurchase |
3,169 |
1,399 |
536 |
464 |
4,623 |
||||
Interest on other short-term borrowings |
579 |
567 |
344 |
2,191 |
3,641 |
||||
Total interest expense |
180,777 |
150,201 |
122,983 |
113,063 |
113,251 |
||||
Net interest income |
658,286 |
643,499 |
622,605 |
603,545 |
589,361 |
||||
Provision for loan losses |
94,964 |
91,280 |
57,029 |
58,835 |
103,434 |
||||
Net interest income after provision for loan losses |
563,322 |
552,219 |
565,576 |
544,710 |
485,927 |
||||
Noninterest income: |
|||||||||
Service charges on deposit accounts |
60,325 |
58,581 |
56,161 |
56,070 |
55,953 |
||||
Card and merchant processing fees |
44,219 |
44,048 |
39,678 |
33,380 |
32,297 |
||||
Retail investment sales |
28,286 |
29,782 |
30,108 |
26,338 |
26,817 |
||||
Investment banking and advisory fees |
13,956 |
24,546 |
23,896 |
24,957 |
30,500 |
||||
Money transfer income |
23,441 |
23,920 |
20,688 |
24,101 |
24,881 |
||||
Asset management fees |
11,143 |
10,989 |
10,770 |
10,303 |
10,336 |
||||
Corporate and correspondent investment sales |
12,490 |
16,355 |
12,056 |
11,803 |
5,145 |
||||
Mortgage banking |
6,717 |
7,964 |
8,397 |
4,720 |
3,450 |
||||
Bank owned life insurance |
4,597 |
4,375 |
4,215 |
4,397 |
4,322 |
||||
Investment securities gains, net |
— |
— |
— |
— |
3,033 |
||||
Other |
53,285 |
49,459 |
51,856 |
101,100 |
61,060 |
||||
Total noninterest income |
258,459 |
270,019 |
257,825 |
297,169 |
257,794 |
||||
Noninterest expense: |
|||||||||
Salaries, benefits and commissions |
292,679 |
286,852 |
289,440 |
296,146 |
279,384 |
||||
Equipment |
63,739 |
63,660 |
63,360 |
63,200 |
60,656 |
||||
Professional services |
68,403 |
68,577 |
60,645 |
76,068 |
64,775 |
||||
Net occupancy |
42,514 |
42,671 |
40,422 |
41,125 |
42,227 |
||||
Money transfer expense |
16,120 |
16,302 |
13,721 |
15,721 |
15,938 |
||||
Marketing |
12,381 |
11,814 |
8,787 |
7,950 |
14,996 |
||||
Communications |
10,827 |
5,251 |
5,263 |
4,970 |
5,084 |
||||
Other |
98,847 |
84,418 |
81,275 |
110,648 |
90,902 |
||||
Total noninterest expense |
605,510 |
579,545 |
562,913 |
615,828 |
573,962 |
||||
Net income before income tax expense |
216,271 |
242,693 |
260,488 |
226,051 |
169,759 |
||||
Income tax expense |
41,756 |
58,295 |
51,798 |
173,979 |
39,308 |
||||
Net income |
174,515 |
184,398 |
208,690 |
52,072 |
130,451 |
||||
Less: net income attributable to noncontrolling interests |
426 |
595 |
461 |
547 |
584 |
||||
Net income attributable to BBVA Compass Bancshares, Inc. |
$ 174,089 |
$ 183,803 |
$ 208,229 |
$ 51,525 |
$ 129,867 |
||||
SOURCE BBVA Compass
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