It has yet to be made official, but all signs point to BBVA making off with insolvent Texas-based Guaranty Financial. The first image is a screenshot of a Google map search for "Compass Bank Texas", already owned by the Spanish bank. The second shows a similar search for Guaranty Bank branches in the state.BBVA's internal estimate of cost savings from this concentration is in the range of $95,000,000.
The rewards of patience.
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