November 06, 2008
BIRMINGHAM, Ala., Nov. 6 /PRNewswire-FirstCall/ --
Compass Bank today announced that it is launching its new brand, BBVA Compass, across its six-state "legacy" footprint, beginning in the bank's Colorado Springs, CO market and completing the transformation with its West Texas markets in the first quarter of 2009. The new brand is a result of Compass' year-long efforts to combine four of the BBVA Group's U.S. operating companies -- Compass Bank, State National Bank, Texas State Bank and LNB (formerly Laredo National Bank) -- under one enterprise. Compass Bank's brand change to BBVA Compass and new color scheme includes the replacement of all external and internal bank signage and new branding for http://www.compassbank.com, credit and check cards, ATM machines and other customer communications.
"Introducing the BBVA Compass brand and successfully integrating the four banks into Compass' operating systems and product platforms marks a significant step toward delivering on our vision of creating the leading financial services group in the Sunbelt region," said Jose María Garcia Meyer, BBVA Country Manager-U.S. and Chairman of Compass Bank. "Customers can look to these new BBVA Compass signs as a 'blending of the best' of the BBVA Group, an international financial leader with strength and stability, and Compass Bank, a strong local leader featuring innovative products and services for clients."
Compass plans to have all of its 579 branches and 734 ATMs re-branded by the end of first quarter 2009. The BBVA Compass brand was first introduced in August in several of Compass' new markets, including the Rio Grande Valley and East Texas, as Texas State Bank merged with Compass, completing the bank's second successful operating systems and product platforms conversion. Compass successfully converted State National Bank in March and will complete its final conversion in November when LNB adopts the BBVA Compass brand and implements its conversion to Compass' operating systems and product platforms.
The BBVA Compass brand also underscores BBVA's commitment to maintaining local leadership. Customers will see the same banking center managers, community banking leaders and have the same personal service they have come to expect from Compass Bank. At the same time, Compass' customers will have access to the full capabilities of the BBVA Group, a global financial services leader with more than 150 years of experience in delivering innovative products and exceptional customer service.
"The BBVA Compass brand is more than just a logo, it represents our ongoing commitment to our communities and the future of Compass Bank," said Gary Hegel, CEO of Compass Bank. "This new brand is a symbol of strength to those who desire the security of a financial institution strong enough to withstand the economic turmoil, yet diverse enough to meet their financial needs."
Compass ranks among the top 25 largest banks in the U.S. based on deposit market share and ranks among the largest banks in Texas (4th) and Alabama (3rd). The company has total assets of approximately $61.5 billion and operates 579 branches across a six state Sunbelt Region including: 312 in Texas, 92 in Alabama, 77 in Arizona, 44 in Florida, 33 in Colorado, and 21 in New Mexico.
About Compass Bank and BBVA
Compass Bank is a subsidiary of Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBV) (MAD: BBVA). BBVA is a financial services group with more than $740 billion in total assets, 47 million clients, 8,000 branches and approximately 112,000 employees in more than 35 countries. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, and the United Kingdom.
SOURCE Compass Bank
For further information: Ashley Wehrly, +1-713-499-8778, email@example.com, or Ed Bilek, +1-205-297-3331, firstname.lastname@example.org, both of Compass Bank