Parker County, Texas Changes Banks-Moves Assets to Spanish-Owned Compass Bank Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


Parker County, Texas Changes Banks-Moves Assets to Spanish-Owned Compass Bank

18 May 2007 at 11:50:04 AM

In our house, when we found out that Compass was no longer a US bank, we changed. For Parker County, they decided to move from the oldest national bank in Texas, First National Bank of Weatherford, TO Compass. Not everyone is happy with it in Weatherford.

In February, Compass Bancshares, Inc. announced it was selling its 415 southwestern banking centers to the Spanish group, Banco Bilbao Vizcaya Agentaria (BBVA).
With Compass CEO D. Paul Jones and senior-level managers staying put, Weatherford Compass City President Brian Lixey said the sale simply amounted to a transfer of stock, and that customers would not be affected. Nevertheless, some in Parker County do not look favorably on the bank’s Spanish ownership.

“I’m somewhat concerned that [Compass] is a Spanish bank,” Precinct 4 Commissioner Jim Webster said before Monday’s vote. “If there’s any way, I would like to do it locally.”

In response, Thorp joked he was brushing up on his Spanish.

At some point, maybe we won't get a chance to bank with US banks, because they'll all be owned by multi-national corporations or PPP holding companies. But it's pretty bad when a local Texas county community decides to stiff a Texas bank in favor of one that's from Spain.

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