BBVA Compass reports 44% increase in net income

BBVA Compass Bank has reported a 44 percent increase in first-quarter net income, from $87 million in the period in 2011 to $126 million in the first quarter of this year.

Total loans as of March 31 were $42.9 billion, up 8 percent from the same period in 2011, with new loan origination volume totaling $3.9 billion, a 27 percent increase from the first quarter of 2011.

Total deposits also increased, from $46 million in the first quarter of 2011 to $48 million in the same period of 2012.

BBVA Compass is the U.S. division of BBVA Group, which operates globally. The bank has one branch each in Loveland and Greeley, and two branches in Fort Collins.

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