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BBVA COMPASS BANCSHARES, INC - 10-Q - Management's Discussion and Analysis of Financial Condition and Results of Operations

May 14, 2014

Critical Accounting Policies The accounting principles followed by the Company and the methods of applying these principles conform with accounting principles generally accepted in the United States of America and with general practices within the banking industry. The Company's critical accounting policies relate to (1) the allowance for loan losses, (2) fair value of financial instruments, (3) income taxes and (4) goodwill impairment. These critical accounting policies require the use of estimates, assumptions and judgments which are based on information available as of the date of the financial statements. Accordingly, as this information changes, future financial statements could reflect the use of different estimates, assumptions and judgments. Certain determinations inherently have a greater reliance on the use of estimates, assumptions and judgments and, as such, have a greater possibility of producing results that could be materially different than originally reported. The Company's significant accounting policies and changes in accounting principles and effects of new accounting pronouncements are discussed in detail in Note 1 in the Notes to Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. Additional disclosures regarding the effects of new accounting pronouncements are included in Note 1, Basis of Presentation, included herein. Executive Overview General Notable accomplishments for the Company during the three months ended March 31, 2014 included the following:


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Source: Edgar Glimpses


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