Compass Bancshares Acquires Texas Insurance Agency--San Antonio.Business Editors BIRMINGHAM, Ala.--(BUSINESS WIRE)--Dec. 14, 2000 Sunbelt-based Compass Bancshares, Inc. today announced that it completed its acquisition of Texas Insurance Agency--San Antonio, one of the largest independent insurance agencies in Texas. Texas Insurance Agency--San Antonio specializes in providing property and casualty insurance, personal insurance, employee benefit plans and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against for businesses and private banking customers as well as home and automobile insurance for retail customers. The senior management team of Texas Insurance Agency--San Antonio will continue in their present roles and will operate as a subsidiary of Compass Bancshares Insurance, Inc., a wholly-owned subsidiary of Compass Bank. Compass Bancshares, Inc. is a $19.4 billion Sunbelt-based financial holding company that operates 317 full-service banking offices in Alabama, Arizona, Colorado, Florida, New Mexico and Texas. Compass is among the top 40 U.S. bank holding companies by asset size and ranks among the top earners of its size based on return on equity. The company's earnings per share have increased for 12 consecutive years and dividends per share Dividends per share Dividend paid for the past 12 months divided by the number of common shares outstanding, as reported by a company. The number of shares often is determined by a weighted average of shares outstanding over the reporting term. have increased for 19 consecutive years. Shares of Compass' common stock are traded through the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol 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) . "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Statements in this press release regarding Compass Bancshares, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the Company's Annual Report or Form 10-K for the most recently ended fiscal year. |
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