BBVA Compass Q3 Profit Increases

(RTTNews) - BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company , reported net income of $130 million for the third quarter of 2017, an 8 percent increase from the $120 million earned during the third quarter of 2016. Included in third quarter 2017 results is approximately $60 million pre-tax of provision expense related to Hurricanes Harvey and Irma.

Total revenue for the quarter was $844 million, an increase of 8 percent from third quarter 2016 levels and an increase of $12 million or 6 percent (annualized) on a linked-quarter basis with the second quarter of 2017. Revenue growth was driven by an increase in net interest income. Net interest income totaled $589 million, an increase of $75 million or 14 percent from the third quarter of 2016.