Compass Bancshares Acquires Albrecht & Associates; Provides Divestment and Advisory Services to Oil & Gas Industry.BIRMINGHAM, Ala.--(BUSINESS WIRE)--Dec. 10, 1998--Compass Bancshares, Inc. (NASDAQ/NMS:CBSS CBSS Council of Baltic Sea States CBSS Craft and Boat Support System CBSS Coastal Border Surveillance System (MSSC) CBSS Closed-Breach Scavenging System (compressed air system for removing smoke from tank gun tubes) ) today announced that it completed its acquisition of Houston-based Albrecht & Associates, Inc., a firm providing specialized divestment divestment to strip one's investment from an entity. and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to the oil and gas production industry. The acquisition adds a new source of revenue to Compass Bank's energy banking group through additional services for its customers and business referrals. Compass' energy banking group now provides divestment and advisory services for the oil and gas production industry as well as specialized banking services to independent producers and energy-related businesses. The company will maintain its current management team and offices, and will operate as a wholly-owned subsidiary of Compass Bank. In mid-December, Compass expects to complete the pending acquisition of Arizona Bank with 29 banking offices and $804 million in assets in the nation's second fastest growing state. An additional 15 Arizona banking offices will be added in the second quarter of 1999 when Compass completes the purchase of branches divested from Norwest and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. . Compass Bancshares Compass Bancshares, Inc. is a privately held company based in Birmingham, Alabama. Its subsidiary, Compass Bank, is a Southwestern financial holding company with $47 billion in assets and 417 full-service banking offices in Alabama, Arizona, Colorado, Florida, New Mexico, and Texas. , Inc. is a $15.2 billion bank holding company which currently operates 250 full-service bank offices in Alabama, Florida and Texas. Compass reported record earnings of $136.4 million for the first nine months of 1998 and has a capital base of $1.1 billion. Shares of Compass' common stock are traded through the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on national market system under the symbol CBSS. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion