BBVA Compass Bancshares Inc. files Form 10 Registration Statement
- Filing with U.S. Securities and Exchange Commission is first step to
becoming an SEC-reporting company
- Future access to debt and equity markets will provide BBVA Compass with
- BBVA Compass takes first step to become SEC registrant
HOUSTON, Nov. 22, 2013
HOUSTON, Nov. 22, 2013 /PRNewswire/ --BBVA Compass Bancshares Inc., a
Sunbelt-based bank holding company (BBVA Compass), announced today that it has
filed a Registration Statement on Form 10 with the U.S. Securities and
Exchange Commission (SEC).
The Registration Statement on Form 10 includes detailed information about BBVA
Compass as a standalone entity, including BBVA Compass' audited 2012 and 2011
financial statements together with the report by the company's independent
registered public accounting firm, and BBVA Compass' unaudited interim
financial statements as of, and for, the nine months ended September 30, 2013.
The filing is an important and necessary first step in BBVA Compass becoming
an SEC reporting company.
"Undergoing this process provides us with the potential for increased
financial flexibility," said Manolo Sanchez, chairman and CEO of BBVA Compass
Bancshares Inc. "By gaining access to the capital markets, we augment the
opportunities available to us to supplement our liquidity position and further
enhance our ability to execute future strategies designed to expand our
capabilities and serve our growing customer base."
Upon the effectiveness of the Registration Statement on Form 10, BBVA Compass
will be subject to the reporting requirements of the Securities Exchange Act
of 1934, as amended, and as a result will file periodic reports and other
information with the SEC. The Registration Statement on Form 10 is available
through the public website of the SEC at www.sec.gov.
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 has a solid position in Spain, is the largest
financial institution in Mexico and has leading franchises in South America
and the Sunbelt region of the United States. Its diversified business is
geared toward 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 best practices. The Group is present
in the main sustainability indexes. More information about the BBVA Group can
be found at www.bbva.com.
About BBVA Compass
BBVA Compass Bancshares, Inc. is a Sunbelt-based bank holding company whose
lead subsidiary, BBVA Compass, operates 687 branches, including 351 in Texas,
90 in Alabama, 78 in Arizona, 64 in California, 45 in Florida, 38 in Colorado
and 21 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 (5th). BBVA Compass has been
recognized as one of the leading small business lenders by the Small Business
Administration and was recently awarded the 2013 Celent Model Bank Award for
its new core banking platform. Additional information about BBVA Compass can
be found at www.bbvacompass.com.
Certain statements in this press release may contain forward-looking
statements about the Company and its industry that involve substantial risks
and uncertainties. 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. For further information
regarding risks and uncertainties associated with the Company's business,
please refer to the "Risk Factors" section of the Company's Registration
Statement on Form 10.
This press release is not an offer to sell and is not soliciting an offer to
buy any securities, nor shall there be any offer or sale of any securities in
any jurisdiction where the offer or sale is not permitted.
SOURCE BBVA Compass
Contact: Ed Bilek, Investor Relations, Tel. 205.297.3331,
firstname.lastname@example.org; Jena Moreno, Corporate Communications, Tel.
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