Compass Bank a wholly-owned subsidiary of BBVA (NYSE: BBV) (MAD: BBVA) bought out the bank I was at for my checking and savings accounts. Normally I have little interest in banks, just allow me to speak to an intelligent human once in a while and I'll keep my money there. Now, I'm getting curious and wondering, anyone heard of these folks? I understand they are a huge regional bank here in the south. I never heard of them until they bougfht their way into the border market.

Compass Bank a wholly-owned subsidiary of BBVA (NYSE: BBV) (MAD: BBVA) bought out the bank I was at for my checking and savings accounts. Normally I have little interest in banks, just allow me to speak to an intelligent human once in a while and I'll keep my money there. Now, I'm getting curious and wondering, anyone heard of these folks? I understand they are a huge regional bank here in the south. I never heard of them until they bougfht their way into the border market.

 

I've banked with Compass since 1997. Been planning a change to a Credit Union lately, but have been procrastinating making the change. Nothing special about them. Just another bank.

I haven't heard them, but there is a chance I'm going to be consulting for the FDIC in regards to the bank shut-downs which are going to happen. I get to find out in a couple weeks. That said I don't have any inside info but I haven't seen anyone on Wall Street speculating about Compass going under.

I've banked with Compass since 1997. Been planning a change to a Credit Union lately, but have been procrastinating making the change. Nothing special about them. Just another bank.

 

You mean they don't live up to their slogan "Just a Little Better"

 

They bought the best area bank down here. I hope they don't screw it up. They took one major step backwards, their system is not on-line, so direct deposits take overnight to batch process.

You mean they don't live up to their slogan "Just a Little Better"

 

They bought the best area bank down here. I hope they don't screw it up. They took one major step backwards, their system is not on-line, so direct deposits take overnight to batch process.

 

Not on-line? This is the 21st century, in my eyes it would be an instant dealbreaker.

Not on-line? This is the 21st century, in my eyes it would be an instant dealbreaker.

I guess I should be clearer. They have on-line banking, and from what I've seen with the interface, it is nice. What I'm getting at is direct deposits and wire transfers are batch processed overnight. I've become accustomed to instant availability of those funds. They tell me this will require a substantial update to their infrastructure which will be completed in the Spring.

I guess I should be clearer. They have on-line banking, and from what I've seen with the interface, it is nice. What I'm getting at is direct deposits and wire transfers are batch processed overnight. I've become accustomed to instant availability of those funds. They tell me this will require a substantial update to their infrastructure which will be completed in the Spring.

 

Ah. That makes more sense.

Ah. That makes more sense.

And so 1980s

And so 1980s

 

They aren't wanting to give up the overnight lending rates they are making on sitting on your money. It's more than just lack of infrastructure.

They aren't wanting to give up the overnight lending rates they are making on sitting on your money. It's more than just lack of infrastructure.

 

Thank you, that's about what I was suspecting, I just didn't know how they would profit.