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Compass Bancshares, Inc., is a privately held company headquartered in Birmingham, Alabama. Its subsidiary, Compass Bank, is a Southwestern financial holding company with US$47 billion in assets and primarily located in Alabama, Arizona, Colorado, Florida, New Mexico, and Texas. Compass Bancshares, is one of the nation’s 25 largest banks, and was previously a member of the S&P 500 Index and the Dow Jones Select Dividend Index. The corporate headquarters are located in the Daniel Building in downtown Birmingham.
On February 16, 2007, Compass announced that it would be acquired by Banco Bilbao Vizcaya Argentaria, the second largest bank in Spain. The deal was completed on Friday, September 7th, 2007, when Compass Bancshares became a wholly owned subsidiary of BBVA. The transaction gave BBVA a substantial stakehold in the US banking sector by creating the largest financial institution in the sunbelt region. BBVA plans to integrate banks previously acquired in the US with the current Compass technology and management platforms.
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