BBVA Compass Acquires the Banking Operations of Guaranty Bank


Acquisition creates 15th largest U.S. commercial bank operating in seven Sunbelt states with approximately $49 billion in total deposits and more than 750 branches

Highly attractive, strategic transaction significantly strengthens existing presence in Texas; solidifies ranking as 4th largest bank in Texas from 4.9% to 6.4% deposit market share

Further extends general banking business into attractive, high-growth California market

Larger branch distribution network will enhance opportunities to grow Retail Banking, Corporate Banking and Wealth Management business lines

August 21, 2009

BIRMINGHAM, Ala., Aug. 21 /PRNewswire-FirstCall/ --

BBVA Compass tonight announced that it has acquired the banking operations of Guaranty Bank based in Austin, Texas from the Federal Deposit Insurance Corporation (FDIC), effective immediately. BBVA Compass acquired $12.0 billionof assets and assumed $11.5 billion of deposits and entered into a loss sharing agreement with the FDIC that covers all of the acquired loans, where the FDIC will bear 80% of the first $2.3 billion of losses and 95% of the losses above that threshold. Guaranty Bank operated 105 branches in Texasand 59 branches in California.

To read the full press release, please click here.

Print Email RSS
print email rss