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.

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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.