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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: MAY 31, 2000 COMMISSION FILE NO. 0-6032
COMPASS BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 63-0593897
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(State of Incorporation) (I.R.S. Employer Identification No.)
15 SOUTH 20TH STREET
BIRMINGHAM, ALABAMA 35233
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(Address of principal executive offices)
(205) 933-3000
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(Registrant's telephone number)
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ITEM 5. OTHER EVENTS
On April 3, 2000, Compass Bancshares, Inc. (the "Company") completed the
acquisition of MegaBank Financial Corporation, pursuant to an Agreement and Plan
of Merger dated November 4, 1999, as amended. Although the acquisition does not
constitute a reportable event under Item 2 of Form 8-K, the Company is
voluntarily reporting herein certain financial results covering at least thirty
days of post-acquisition combined operations in accordance with Commission
Accounting Series Releases 130 and 135.
In the opinion of management, all adjustments necessary to present fairly the
results of operations for the interim period have been made. All such
adjustments are of a normal recurring nature. The results of operations are not
necessarily indicative of the results of operations for the full year or any
other interim periods.
The following table sets forth certain information relating to financial results
of the Company and its subsidiaries on a consolidated basis for the period May
1, 2000, through May 31, 2000:
COMPASS BANCSHARES, INC.
CONDENSED STATEMENT OF OPERATIONS
(In Thousands Except Per Share Data)
(Unaudited)
For the Period
May 1, 2000 through
May 31, 2000
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EARNINGS SUMMARY
Net interest income $56,053
Provision for loan losses 3,164
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Net interest income after provision 52,889
Noninterest income 22,825
Noninterest expense 48,849
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Pretax income 26,865
Income tax expense 9,252
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Net income $17,613
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COMPASS BANCSHARES, INC. AND SUBSIDIARIES
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
June 14, 2000 /s/ GARRETT R. HEGEL
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Date By Garrett R. Hegel, as its
Chief Financial Officer
