The report in
The Wall Street Journal
cited people familiar with the situation.
Such a deal would mark a significant expansion into U.S. retail branch banking by BBVA. Although the Madrid-based bank acquired Texas-based Laredo bank last year, its U.S. strategy so far has focused on remittance banking, where immigrants in the U.S. send money back to their home countries.
There has already been plenty of speculation that Texas Regional Bancshares was an acquisition target and that BBVA was a suitor. Last week, that speculation drove up shares of the McAllen, Texas company, and they closed Friday at $34.20, 6.4% higher on the week.
Texas Regional is the parent of Texas State Bank, which has 73 branches.