Banking group BBVA has completed the conversion of its subsidiary State National Bank into Compass Bank. The 42 branches of State National Bank had their signage replaced and were converted to Compass's operating systems and product platforms.
The conversion comes after BBVA’s recent announcement that it has received all the necessary regulatory approvals to move forward with integrating its four US subsidiary banks into a single organization.
With the conversion of State National Bank into Compass Bank, BBVA continues to deliver on the integration plan announced at its investor day in November 2007, which outlined the merger of the four banks into one unified franchise offering an expanded choice of products and services by the end of 2008.
BBVA has total assets of approximately $58.6 billion and operates 593 branches across a six state Sunbelt region including, 328 in Texas, 91 in Alabama, 76 in Arizona, 44 in Florida, 33 in Colorado and 21 in New Mexico.