BBVA Compass Bancshares, Inc. (formerly Compass Bancshares) is a United States-based financial holding company headquartered in Birmingham, Alabama. It has been a subsidiary of the Spanish multinational Banco Bilbao Vizcaya Argentaria since 2007 and operates chiefly in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. BBVA Compass is one of the U.S.’s 25 largest banks with 688 branch locations, and was previously a member of the S&P 500 Index and the Dow Jones Select Dividend Index. Ranked by its US$ 65 billion total assets, BBVA Compass Bancshares is the 34th largest bank in the United States. "BBVA Compass Bancshares, Inc is the corporate parent (headquartered in Houston, Texas), of Compass Bank, a commercial banking subsidiary doing business as BBVA Compass and headquartered in the Daniel Building in downtown Birmingham, Alabama. On February 16, 2007, Compass Bancshares announced that it would be acquired by Banco Bilbao Vizcaya Argentaria (BBVA), then second largest bank in Spain. The deal was completed on September 7, 2007, when Compass Bancshares became a wholly owned subsidiary of BBVA and was renamed BBVA Compass. The transaction gave BBVA a substantial stakehold in the US banking sector and placed it among the largest financial institutions in the Sun Belt region. BBVA plans to integrate banks previously acquired in the US with the current Compass technology and management platforms.