BBVA USA

BBVA USA

File:BBVA 2019.svg
File:Daniel Building.jpg Daniel Building, former headquarters of BBVA USA in Birmingham, AL
Company type	Defunct
Industry	Banking
Founded	March 2, 1964 (1964-03-02)
Founder	Harry B. Brock Jr.
Defunct	Template:End date and age
Fate	Acquired by PNC Financial Services
Successor	PNC Financial Services
Headquarters	Daniel Building, Birmingham, Alabama , United States

BBVA USA was a banking institution headquartered in Birmingham, Alabama. Operating as a subsidiary of Banco Bilbao Vizcaya Argentaria from 2007 until its 2021 acquisition by PNC Financial Services, the bank’s primary markets included Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. Its previous identities encompassed Central Bank and Trust Company, Central Bank, Central Bancshares of the South, and Compass Bancshares.

History

Established on March 2, 1964, by founders Harry B. Brock Jr., Schuyler Baker, and Hugh Daniel with an initial capital of US$1 million, Central Bank and Trust Company experienced rapid growth under Brock’s guidance.

In 1971, Central pursued a hostile acquisition of State National Bank in Decatur to leverage its distinctive multi-county branching privileges. Despite facing legal opposition from rival Alabama banks, Central ultimately succeeded through appeals and restructured as Central Bancshares of the South.

The institution was instrumental in advocating for the 1981 Bank Merger Act, which authorized statewide bank branching, and later championed interstate banking legislation enacted in 1986. Its inaugural out-of-state purchase was the troubled First National Bank of Crosby, Texas, in 1987—making it the first Alabama-based bank to own a Texas banking entity.

D. Paul Jones took over as CEO from Brock in 1991. Two years later, in 1993, reflecting geographic expansion beyond the southern region, the firm adopted the name Compass Bancshares. Under Jones’s strategic direction, Compass grew its footprint into Florida and western states through targeted acquisitions.

The company declined various merger overtures, including a 1999 proposal from AmSouth, aiming to preserve autonomy and enhance shareholder returns.

On September 7, 2007, Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, acquired Compass Bancshares. The combined entity rebranded as BBVA Compass by late 2008.

Gary Hegel was named CEO in January 2008; later that year in December, Manolo Sanchez assumed the role. In August 2009, BBVA Compass expanded its operations by acquiring assets from the failed Guaranty Bank (Texas), thereby strengthening its presence in California and Texas markets.

In 2009, BBVA Compass introduced innovative offerings such as the ClearPoints rewards card featuring real-time redemption capabilities. Leadership changes saw Manolo Sánchez appointed U.S. country manager for BBVA in 2010 and elevated to chairman of BBVA Compass’s board in 2013.

Significant investments were made in infrastructure with plans announced in 2011 for an environmentally sustainable headquarters within Houston’s Galleria district; this culminated in the opening of BBVA Compass Plaza office tower in 2013, reinforcing its corporate presence.

Following regulatory concerns regarding overdraft fee policies, BBVA Compass agreed to an $11.5 million settlement in 2012 and intensified community reinvestment initiatives after a critical Community Reinvestment Act review in 2014—committing $11 billion towards community development lending and expanding dedicated staff.

The bank received accolades for digital advancements when Money magazine recognized its mobile banking application as best of the year in 2015.

Leadership evolved with Onur Genç appointed CEO in December 2016; Manolo Sánchez retired the following year. In December 2018, Javier Rodríguez Soler succeeded as CEO.

In June 2019, aligning with a global branding strategy, the bank transitioned from BBVA Compass to BBVA USA.

On June 1, 2021, PNC Financial Services completed its acquisition of BBVA USA, marking a major consolidation within the U.S. banking sector.

U.S. Sporting Sponsorships

On September 13, 2010, BBVA officially became a sponsor of the NBA.

BBVA USA took on sponsorship of the BBVA Compass Stadium in Houston, which opened on May 12, 2012. This venue serves as the home ground for the Houston Dynamo Major League Soccer franchise. Beginning in 2014, it also became the home stadium for the Houston Dash of the National Women's Soccer League.

Since October 2015, BBVA has sponsored BBVA Field at the University of Alabama at Birmingham, where both the men's and women's soccer teams of the UAB Blazers compete. Additionally, from 2019 until early 2021, Birmingham Legion FC, a club in the USL Championship, leased this stadium.

Between 2011 and 2014, BBVA USA held the title sponsorship of the annual college football event known as the Birmingham Bowl, hosted each year in Birmingham.

Acquisition History

Company	Date
First National Bank of Crosby, Texas	February 26, 1987
City National Bank of Plano, Texas	November 10, 1989
River Oaks Bancshares	March 28, 1991
Promenade Bancshares	July 31, 1991
FWNB Bancshares	December 22, 1992
Cornerstone Bancshares	January 19, 1993
First Federal Savings Bank of Northwest Florida	October 14, 1993
First Performance National Bank	January 27, 1994
First Heights Bank FSB	October 1, 1994
Equitable Bankshares	April 11, 1996
Post Oak Bank	April 19, 1996
CFB Bancorp	August 23, 1996
Enterprise National Bank	January 15, 1997
Horizon Bancorp	March 12, 1997
Central Texas Bancorp	July 15, 1997
GSB Investments	January 13, 1998
Fidelity Resources Company	February 9, 1998
Arizona Bank	December 15, 1998
Norwest/Wells Fargo offices	April 19, 1999
Heartland Bank	October 20, 1999
Western Bancshares	January 13, 2000
MegaBank Financial Corporation	April 3, 2000
Founders Bank of Arizona	July 17, 2000
FirsTier Corporation	January 4, 2001
TexasBanc Holding Company	March 24, 2006
Simple	2014

This list highlights BBVA’s deliberate growth strategy through acquiring various regional banks and financial entities to strengthen its presence across diverse markets.