Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: June 30, 2000

For immediate release

The Federal Reserve Board today announced its approval of the application of Compass Bancshares, Inc., Birmingham, Alabama, ("Compass") to acquire Founders Bancorp, Inc., and thereby acquire Founders Bank of Arizona ("Founders Bank"), both of Scottsdale, Arizona. The Board also approved the application of Compass's lead subsidiary bank, Compass Bank, Birmingham, Alabama, to merge with Founders Bank and to retain and operate branches at the current locations of Founders Bank's offices.

Attached is the Board's Order relating to this action.

Order (19 KB PDF)

2000 Orders on banking applications

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Last update: June 30, 2000