Compass Bancshares Inc. (CBSS)

Compass Bancshares, Inc. operates as the holding company for Compass Bank and Central Bank of the South, which provide commercial banking and trust services in the United States. The company accepts deposit products, including savings, demand, time, and certificates of deposit. Its loan portfolio comprises commercial, financial, and agricultural loans; real estate construction loans; commercial real estate mortgage loans; residential real estate mortgage loans; equity lines of credit; and equity loans. The company also offers wealth management services, such as portfolio management and administration, and investment services to estates, trusts, and employee benefit plans; agency services for term life insurance, fixed rate annuities, property and casualty insurance, and other insurance products; investment advisory services; and distributes various investment services and products, including institutional sales, bond accounting, safekeeping, and interest rate risk analysis services to the institutional and individual investors. Further, it provides discount brokerage services, mutual funds, and variable annuities to individuals and businesses, as well as offers lease financing services to individuals and businesses. As of December 31, 2006, Compass Bank operated 415 banking centers, including 164 in Texas, 89 in Alabama, 75 in Arizona, 44 in Florida, 33 in Colorado, and 10 in New Mexico. Compass Bancshares was founded in 1970 and is headquartered in Birmingham, Alabama.

For the nine months ended 30 September 2006, Compass Bancshares, Inc.'s interest income rose 34% to $1.5B. Net interest income after LLP rose 21% to $765.9M. Net income rose 14% to $342M. Net interest income reflects an increase in interest & fees on loans and higher interest on trading account assets, partially offset by an higher interest on deposits. Net income was partially offset by higher salaries, benefits & commissions.