Compass acquires Coastal Banc locations in San Antonio.BIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--Sept. 6, 1996--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 has acquired the three San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. locations of Coastal Banc ssb. In a related transaction, Compass completed the sale of its Bay City, Texas office to Coastal. The purchase brings $57 million in assets and $57 million in deposits to Compass. Together with the previously announced Texas American Bank acquisition and two new offices under construction, Compass will have a total of 18 locations and more than $276 million in assets in the growing San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. market. Compass has aggressively expanded its Texas franchise since entering the state in 1987. Compass now operates 82 bank offices in Texas' three largest cities, Dallas, Houston and San Antonio, as well as locations in east Texas and central Texas north of Austin. When the acquisition of ProBank in Houston and Texas American Bank in San Antonio are completed, Compass' Texas assets will exceed $4.7 billion and the bank will have 89 offices in the state. 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 $10.8 billion bank holding company with 202 offices in Alabama, Florida and Texas. Compass reported record earnings of $67.4 million for the first six months of 1996, and has a capital base of $701 million. Shares of the company's 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. CONTACT: Compass Bancshares, Inc., Birmingham Ellen Laden, 205/933-3554 |
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