Harry B. Brock Jr. has fired off another "fight letter" to shareholders of Compass Bancshares , this one questioning the company's earnings record.

Mr. Brock, a Compass director who is waging a proxy battle against the bank's management, accused the company of "using the fruits of its past successes to offset a lack of current performance." Mr. Brock sent his letter to about 20,000 Compass shareholders last week.

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