BBVA Completes Conversion of Second U.S. Subsidiary Bank to Compass Platform as Scheduled

The BBVA Group today announced the successful conversion of Texas State Bank into Compass Bank marking significant progress toward BBVA’s U.S. integration plan and the launch of the BBVA Compass brand.

At the close of business on Thursday, August 21, Texas State Bank branches had signage replaced and were seamlessly converted to Compass’ operating systems and product platforms. BBVA Compass signs were installed at 61 Texas State Bank branches in East Texas and the Rio Grande Valley marking the initial use of the new brand in the U.S.

“Introducing the BBVA Compass brand and successfully integrating Texas State into Compass’ operating systems and product platforms marks a significant step toward delivering on our vision of creating the leading financial services group in the Sunbelt region,” said José María García Meyer, BBVA Country Manager-U.S. and Chairman of Compass Bank.

The successful conversion also marked the third step of BBVA as it continues to deliver on the integration plan announced at its Investor Day in fourth quarter 2007, outlining the merger of BBVA’s four U.S. banks into a single, unified franchise by the end of 2008. The key milestones in BBVA’s integration plans thus far have included:

• January 14: Launch of single organization and new management team
• March 13: Platform integration of State National into Compass Bank
• August 21: Integration of Texas State Bank into Compass Bank

BBVA will complete its U.S. integration plan with the conversion of LNB (formerly Laredo National Bank) in November.

The conversion of Texas State Bank also marked the initial launch of BBVA’s new U.S. brand, a process that will continue into the first quarter of 2009 as the BBVA Compass banner is introduced in markets across the Sunbelt region.

“BBVA’s guiding principles emphasize the importance of building a better future for people,” said García Meyer. “Customers can look to these new BBVA Compass signs as a blending of the best of BBVA, an international financial leader, and Compass Bank, and they will immediately enjoy access to a larger branch network and a broader array of products and services designed to meet their financial needs.”

BBVA Compass also underscores BBVA’s commitment to maintaining local leadership. Customers will see the same banking center managers, community banking leaders and have the same personal service they have come to expect. At the same time, as part of the BBVA Group customers will also have access to the strength and stability of a global financial services group with more than 150 years of history.

“We are very pleased that Texas State Bank Chairman Glen Roney will continue to lend us his wisdom and expertise as a member of our board of directors,” said García Meyer. “Glen was responsible for building an outstanding bank that not only focused on meeting the needs of its clients but also becoming an integral part of the local communities.”

Compass CEO Gary Hegel said that the successful integration of Texas State Bank represents another important milestone in a year long process that will bring a new level of service to customers throughout Texas and the Sunbelt. “Our successful conversion of Texas State Bank to Compass’ operating systems and product platform occurred according to schedule,” said Hegel. “Completing the conversions of State National Bank and Texas State Bank while navigating a difficult operating environment demonstrates the outstanding leadership team we have in place at Compass. We are also realizing synergies from the integration ahead of expectations, providing further evidence that we are delivering on the commitments made at Investor Day.”

Compass Bank ranks as the fourth largest bank in Texas and among the top 25 largest banks in the U.S. based on deposit market share. The company has total assets of approximately $61.2 billion and operates 579 branches across a six state Sunbelt Region including: 312 in Texas, 92 in Alabama, 77 in Arizona, 44 in Florida, 33 in Colorado, and 21 in New Mexico.

About Compass Bank

Compass Bank is a subsidiary of Compass Bancshares, Inc., a wholly-owned subsidiary of BBVA (NYSE: BBV) (MAD: BBVA). BBVA is a financial services group with more than $740 billion in total assets, 47 million clients, 8,000 branches and approximately 112,000 employees in more than 35 countries. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, and the United Kingdom.