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Bbva Official BankOfficial Bank of Bbva
Entry into the US market (2004)
At the end of 2006, the bank reported that it had taken over both Texas State Bank, an 80 chain store bank based in McAllen, Texas, and State National Bank, a bank with 44 chain stores in Fort Worth, Texas. The Compass Bank had six state owned outlets and a combined 422 outlets, thus trebling the bank's balance sheet totals.
At the end of 2008, the three Texas banking institutions named Tri-Star were incorporated into Compass Bank's system, thus establishing a strong Sunbelt franchise with six states, a balance sheet of approximately $61.2 billion, 579 branch offices and more than 12,000 people. As a result of the transaction, the bank has expanded its private banking operations to 164 offices in Texas and California with $12.0 billion in net worth.
During 2011, the US teams launched another challenging venture, the Transforming the Nuclear Technologies Platforms, which would make it the first large US bank to have real-time transaction functions that enable immediate booking of funds and credit transactions as well as enhanced visibility, providing clients with up-to-date information about their account and better financial controls.
In addition, the solution enhanced the product's time-to-market, enabling the bank to quickly adjust to changing client needs. This $362 million investment superseded the bank's nuclear technological infrastructures for all its branch offices in its seven-state Sunbelt footprint. Over the next five years, the bank embraced the paradigm as it built the franchise, concentrating on being an effective member of the community in which it does business, organic growth, and closer to its objective of being a challengeer.
As part of the Bank's commitment to focusing on local communities, a commitment was made in 2014 to promote local economies in all municipalities. In the first two full years, the bank exceeded its targets and invested more than $5.3 billion in its municipalities. It also became the official bank of the NBA.
In terms of deposits it is one of the 25 biggest US merchant banking institutions and one of the biggest in Alabama (2nd), Texas (4th) and Arizona (5th).