MCLEAN, Va., July 20, 2017
/PRNewswire/ -- Capital One Financial Corporation (NYSE: COF)
today announced net income for the second quarter of 2017 of
$1.0 billion, or $1.94 per diluted common share, compared with net
income of $810 million, or
$1.54 per diluted common share in the
first quarter of 2017, and with net income of $942 million, or $1.69 per diluted common share in the second
quarter of 2016. During the quarter, we incurred $12 million of costs related to our anticipated
close of the Cabela's acquisition, which is subject to regulatory
approval. Excluding this adjusting item, net income for the second
quarter of 2017 was $1.96 per diluted
common share(1).
"We delivered another quarter of resilient growth across our
businesses," said Richard D.
Fairbank, Founder, Chairman and Chief Executive
Officer. "We're investing to grow and transform our company as
banking goes digital, we're driving improving efficiency, and we
are building an enduring customer franchise. We continue to be in a
strong position to deliver attractive growth and returns, as well
as significant capital distribution, subject to regulatory
approval."
All comparisons below are for the second quarter of 2017
compared with the first quarter of 2017 unless otherwise noted.
Second Quarter 2017 Income Statement Summary:
- Total net revenue increased 3 percent to $6.7 billion.
- Total non-interest expense decreased 1 percent to $3.4 billion:
-
- 2 percent decrease in operating expenses.
- 10 percent increase in marketing.
- Pre-provision earnings increased 6 percent to $3.3 billion(2).
- Provision for credit losses decreased 10 percent to
$1.8 billion:
-
- Net charge-offs of $1.6
billion.
- $182 million reserve build.
- Net interest margin flat at 6.88 percent.
- Efficiency ratio of 50.92 percent:
-
- Efficiency ratio excluding adjusting items was 50.75
percent(1).
Second Quarter 2017 Balance Sheet Summary:
- Common equity Tier 1 capital ratio under Basel III Standardized
Approach of 10.7 percent at June 30,
2017.
- Period-end loans held for investment in the quarter increased
$3.7 billion, or 2 percent, to
$244.3 billion.
-
- Domestic Card period-end loans increased $1.8 billion, or 2 percent, to $92.9 billion.
- Consumer Banking period-end loans increased $991 million, or 1 percent, to $75.0 billion:
-
- Auto period-end loans increased $2.0
billion, or 4 percent, to $51.8
billion.
- Home loans period-end loans decreased $1.0 billion, or 5 percent, to $19.7 billion, driven by run-off of acquired
portfolios.
- Commercial Banking period-end loans increased $352 million, or 1 percent, to $67.7 billion.
- Average loans held for investment in the quarter increased
$736 million, or less than 1 percent,
to $242.2 billion.
-
- Domestic Card average loans decreased $1.3 billion, or 1 percent, to $91.8 billion.
- Consumer Banking average loans increased $1.1 billion, or 2 percent, to $74.5 billion:
-
- Auto average loans increased $2.1
billion, or 4 percent, to $50.8
billion.
- Home loans average loans decreased $946
million, or 4 percent, to $20.2
billion, driven by run-off of acquired portfolios.
- Commercial Banking average loans increased $731 million, or 1 percent, to $67.7 billion.
- Period-end total deposits decreased $1.4
billion, or less than 1 percent, to $239.8 billion, while average deposits increased
$2.0 billion, or less than 1 percent,
to $240.6 billion.
- Interest-bearing deposits rate paid increased 5 basis points to
0.71 percent.
(1) Amounts excluding adjusting items are non-GAAP measures that
we believe help investors and users of our financial information
understand the effect of adjusting items on our selected reported
results and provide alternate measurements of our performance. See
Table 15 in Exhibit 99.2 for a reconciliation of our selected
reported results to these non-GAAP measures.
(2) Pre-provision earnings is calculated based on the sum of net
interest income and non-interest income, less non-interest expense
for the period.
Earnings Conference Call Webcast Information
The company will hold an earnings conference call on
July 20, 2017 at 5:00 PM Eastern
Time. The conference call will be accessible through live
webcast. Interested investors and other individuals can access the
webcast via the company's home page (www.capitalone.com). Choose
"About Us," then choose "Investors" to access the Investor Center
and view and/or download the earnings press release, the financial
supplement, including a reconciliation of non-GAAP financial
measures, and the earnings release presentation. The replay of the
webcast will be archived on the company's website through
August 3, 2017 at 5:00 PM Eastern
Time.
Forward-Looking Statements
Certain statements in this release may constitute
forward-looking statements, which involve a number of risks and
uncertainties. Capital One cautions readers that any
forward-looking information is not a guarantee of future
performance and that actual results could differ materially from
those contained in the forward-looking information due to a number
of factors, including those listed from time to time in reports
that Capital One files with the Securities and Exchange Commission,
including, but not limited to, the Annual Report on Form 10-K for
the year ended December 31, 2016.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a
financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N.A., had $239.8
billion in deposits and $350.6
billion in total assets as of June 30, 2017.
Headquartered in McLean, Virginia,
Capital One offers a broad spectrum of financial products and
services to consumers, small businesses and commercial clients
through a variety of channels. Capital One, N.A. has branches
located primarily in New York,
Louisiana, Texas, Maryland, Virginia, New
Jersey and the District of
Columbia. A Fortune 500 company, Capital One trades on the
New York Stock Exchange under the symbol "COF" and is included in
the S&P 100 index.
|
Exhibit
99.2
|
Capital One
Financial Corporation Financial
Supplement(1)(2) Second
Quarter 2017 Table of Contents
|
|
|
|
Capital One
Financial Corporation Consolidated Results
|
Page
|
|
Table
1:
|
Financial
Summary—Consolidated
|
1
|
|
Table
2:
|
Selected
Metrics—Consolidated
|
3
|
|
Table
3:
|
Consolidated
Statements of Income
|
4
|
|
Table
4:
|
Consolidated
Balance Sheets
|
6
|
|
Table
5:
|
Notes to Financial
Summary, Selected Metrics and Consolidated Financial Statements
(Tables 1—4)
|
8
|
|
Table
6:
|
Average Balances,
Net Interest Income and Net Interest Margin
|
10
|
|
Table
7:
|
Loan Information
and Performance Statistics
|
11
|
|
Table
8:
|
Allowance for Loan
and Lease Losses and Reserve for Unfunded Lending Commitments
Activity
|
13
|
Business Segment
Results
|
|
|
Table
9:
|
Financial
Summary—Business Segment Results
|
14
|
|
Table
10:
|
Financial &
Statistical Summary—Credit Card Business
|
15
|
|
Table
11:
|
Financial &
Statistical Summary—Consumer Banking Business
|
17
|
|
Table
12:
|
Financial &
Statistical Summary—Commercial Banking Business
|
18
|
|
Table
13:
|
Financial &
Statistical Summary—Other and Total
|
19
|
|
Table
14:
|
Notes to Loan,
Allowance and Business Segment Disclosures (Tables
7—13)
|
20
|
Other
|
|
|
Table
15:
|
Calculation of
Regulatory Capital Measures and Reconciliation of Non-GAAP
Measures
|
21
|
|
|
|
|
|
|
|
|
(1)
|
The information
contained in this Financial Supplement is preliminary and based on
data available at the time of the earnings presentation. Investors
should refer to our Quarterly Report on Form 10-Q for the period
ended June 30, 2017 once it is filed with the Securities and
Exchange Commission.
|
(2)
|
This Financial
Supplement includes non-GAAP measures. We believe these non-GAAP
measures are useful to investors and users of our financial
information as they provide an alternate measurement of our
performance and assist in assessing our capital adequacy and the
level of return generated. These non-GAAP measures should not be
viewed as a substitute for reported results determined in
accordance with generally accepted accounting principles in the
U.S. ("GAAP"), nor are they necessarily comparable to non-GAAP
measures that may be presented by other companies.
|
CAPITAL ONE
FINANCIAL CORPORATION (COF)
Table 1: Financial Summary—Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
(Dollars in
millions, except per share data and as noted)
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Income
Statement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
5,473
|
|
|
$
|
5,474
|
|
|
$
|
5,447
|
|
|
$
|
5,277
|
|
|
$
|
5,093
|
|
|
—
|
|
|
7
|
%
|
|
$
|
10,947
|
|
|
$
|
10,149
|
|
|
8
|
%
|
Non-interest
income
|
|
1,231
|
|
|
1,061
|
|
|
1,119
|
|
|
1,184
|
|
|
1,161
|
|
|
16
|
%
|
|
6
|
|
|
2,292
|
|
|
2,325
|
|
|
(1)
|
|
Total net
revenue(1)
|
|
6,704
|
|
|
6,535
|
|
|
6,566
|
|
|
6,461
|
|
|
6,254
|
|
|
3
|
|
|
7
|
|
|
13,239
|
|
|
12,474
|
|
|
6
|
|
Provision for credit
losses
|
|
1,800
|
|
|
1,992
|
|
|
1,752
|
|
|
1,588
|
|
|
1,592
|
|
|
(10)
|
|
|
13
|
|
|
3,792
|
|
|
3,119
|
|
|
22
|
|
Non-interest
expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing
|
|
435
|
|
|
396
|
|
|
575
|
|
|
393
|
|
|
415
|
|
|
10
|
|
|
5
|
|
|
831
|
|
|
843
|
|
|
(1)
|
|
Amortization of
intangibles
|
|
61
|
|
|
62
|
|
|
101
|
|
|
89
|
|
|
95
|
|
|
(2)
|
|
|
(36)
|
|
|
123
|
|
|
196
|
|
|
(37)
|
|
Operating
expenses
|
|
2,918
|
|
|
2,976
|
|
|
3,003
|
|
|
2,879
|
|
|
2,785
|
|
|
(2)
|
|
|
5
|
|
|
5,894
|
|
|
5,479
|
|
|
8
|
|
Total non-interest
expense
|
|
3,414
|
|
|
3,434
|
|
|
3,679
|
|
|
3,361
|
|
|
3,295
|
|
|
(1)
|
|
|
4
|
|
|
6,848
|
|
|
6,518
|
|
|
5
|
|
Income from
continuing operations before income taxes
|
|
1,490
|
|
|
1,109
|
|
|
1,135
|
|
|
1,512
|
|
|
1,367
|
|
|
34
|
|
|
9
|
|
|
2,599
|
|
|
2,837
|
|
|
(8)
|
|
Income tax
provision
|
|
443
|
|
|
314
|
|
|
342
|
|
|
496
|
|
|
424
|
|
|
41
|
|
|
4
|
|
|
757
|
|
|
876
|
|
|
(14)
|
|
Income from
continuing operations, net of tax
|
|
1,047
|
|
|
795
|
|
|
793
|
|
|
1,016
|
|
|
943
|
|
|
32
|
|
|
11
|
|
|
1,842
|
|
|
1,961
|
|
|
(6)
|
|
Income (loss) from
discontinued operations, net of tax(2)
|
|
(11)
|
|
|
15
|
|
|
(2)
|
|
|
(11)
|
|
|
(1)
|
|
|
**
|
|
|
**
|
|
|
4
|
|
|
(6)
|
|
|
**
|
|
Net income
|
|
1,036
|
|
|
810
|
|
|
791
|
|
|
1,005
|
|
|
942
|
|
|
28
|
|
|
10
|
|
|
1,846
|
|
|
1,955
|
|
|
(6)
|
|
Dividends and
undistributed earnings allocated to participating
securities(3)
|
|
(8)
|
|
|
(5)
|
|
|
(6)
|
|
|
(6)
|
|
|
(6)
|
|
|
60
|
|
|
33
|
|
|
(13)
|
|
|
(12)
|
|
|
8
|
|
Preferred stock
dividends
|
|
(80)
|
|
|
(53)
|
|
|
(75)
|
|
|
(37)
|
|
|
(65)
|
|
|
51
|
|
|
23
|
|
|
(133)
|
|
|
(102)
|
|
|
30
|
|
Net income available
to common stockholders
|
|
$
|
948
|
|
|
$
|
752
|
|
|
$
|
710
|
|
|
$
|
962
|
|
|
$
|
871
|
|
|
26
|
|
|
9
|
|
|
$
|
1,700
|
|
|
$
|
1,841
|
|
|
(8)
|
|
Common Share
Statistics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per
common share:(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
|
$
|
1.98
|
|
|
$
|
1.53
|
|
|
$
|
1.47
|
|
|
$
|
1.94
|
|
|
$
|
1.70
|
|
|
29
|
%
|
|
16
|
%
|
|
$
|
3.51
|
|
|
$
|
3.57
|
|
|
(2)%
|
|
Income (loss) from
discontinued operations
|
|
(0.02)
|
|
|
0.03
|
|
|
—
|
|
|
(0.02)
|
|
|
—
|
|
|
**
|
|
|
**
|
|
|
0.01
|
|
|
(0.01)
|
|
|
**
|
|
Net income per basic
common share
|
|
$
|
1.96
|
|
|
$
|
1.56
|
|
|
$
|
1.47
|
|
|
$
|
1.92
|
|
|
$
|
1.70
|
|
|
26
|
|
|
15
|
|
|
$
|
3.52
|
|
|
$
|
3.56
|
|
|
(1)
|
|
Diluted earnings
per common share:(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
|
$
|
1.96
|
|
|
$
|
1.51
|
|
|
$
|
1.45
|
|
|
$
|
1.92
|
|
|
$
|
1.69
|
|
|
30
|
|
|
16
|
|
|
$
|
3.48
|
|
|
$
|
3.53
|
|
|
(1)
|
|
Income (loss) from
discontinued operations
|
|
(0.02)
|
|
|
0.03
|
|
|
—
|
|
|
(0.02)
|
|
|
—
|
|
|
**
|
|
|
**
|
|
|
0.01
|
|
|
(0.01)
|
|
|
**
|
|
Net income per
diluted common share
|
|
$
|
1.94
|
|
|
$
|
1.54
|
|
|
$
|
1.45
|
|
|
$
|
1.90
|
|
|
$
|
1.69
|
|
|
26
|
|
|
15
|
|
|
$
|
3.49
|
|
|
$
|
3.52
|
|
|
(1)
|
|
Weighted-average
common shares outstanding (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
484.0
|
|
|
482.3
|
|
|
483.5
|
|
|
501.1
|
|
|
511.7
|
|
|
—
|
|
|
(5)
|
|
|
483.1
|
|
|
517.6
|
|
|
(7)
|
|
Diluted
|
|
488.1
|
|
|
487.9
|
|
|
489.2
|
|
|
505.9
|
|
|
516.5
|
|
|
—
|
|
|
(5)
|
|
|
487.7
|
|
|
522.3
|
|
|
(7)
|
|
Common shares
outstanding (period-end, in millions)
|
|
483.7
|
|
|
482.8
|
|
|
480.2
|
|
|
489.2
|
|
|
505.9
|
|
|
—
|
|
|
(4)
|
|
|
483.7
|
|
|
505.9
|
|
|
(4)
|
|
Dividends paid per
common share
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
—
|
|
|
—
|
|
|
$
|
0.80
|
|
|
$
|
0.80
|
|
|
—
|
|
Tangible book value
per common share (period-end)(4)
|
|
60.94
|
|
|
58.66
|
|
|
57.76
|
|
|
59.00
|
|
|
57.84
|
|
|
4
|
|
|
5
|
|
|
60.94
|
|
|
57.84
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
(Dollars in
millions)
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Balance Sheet
(Period-End)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans held for
investment(5)
|
|
$
|
244,302
|
|
|
$
|
240,588
|
|
|
$
|
245,586
|
|
|
$
|
238,019
|
|
|
$
|
234,603
|
|
|
2
|
%
|
|
4
|
%
|
|
$
|
244,302
|
|
|
$
|
234,603
|
|
|
4
|
%
|
Interest-earning
assets
|
|
319,286
|
|
|
316,712
|
|
|
321,807
|
|
|
313,431
|
|
|
307,163
|
|
|
1
|
|
|
4
|
|
|
319,286
|
|
|
307,163
|
|
|
4
|
|
Total
assets
|
|
350,593
|
|
|
348,549
|
|
|
357,033
|
|
|
345,061
|
|
|
339,117
|
|
|
1
|
|
|
3
|
|
|
350,593
|
|
|
339,117
|
|
|
3
|
|
Interest-bearing
deposits
|
|
213,810
|
|
|
214,818
|
|
|
211,266
|
|
|
200,416
|
|
|
195,635
|
|
|
—
|
|
|
9
|
|
|
213,810
|
|
|
195,635
|
|
|
9
|
|
Total
deposits
|
|
239,763
|
|
|
241,182
|
|
|
236,768
|
|
|
225,981
|
|
|
221,059
|
|
|
(1)
|
|
|
8
|
|
|
239,763
|
|
|
221,059
|
|
|
8
|
|
Borrowings
|
|
49,954
|
|
|
48,439
|
|
|
60,460
|
|
|
59,820
|
|
|
59,181
|
|
|
3
|
|
|
(16)
|
|
|
49,954
|
|
|
59,181
|
|
|
(16)
|
|
Common
equity
|
|
44,777
|
|
|
43,680
|
|
|
43,154
|
|
|
44,336
|
|
|
44,813
|
|
|
3
|
|
|
—
|
|
|
44,777
|
|
|
44,813
|
|
|
—
|
|
Total stockholders'
equity
|
|
49,137
|
|
|
48,040
|
|
|
47,514
|
|
|
48,213
|
|
|
48,108
|
|
|
2
|
|
|
2
|
|
|
49,137
|
|
|
48,108
|
|
|
2
|
|
Balance Sheet
(Average Balances)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans held for
investment(5)
|
|
$
|
242,241
|
|
|
$
|
241,505
|
|
|
$
|
240,027
|
|
|
$
|
235,843
|
|
|
$
|
230,379
|
|
|
—
|
|
|
5
|
%
|
|
$
|
241,875
|
|
|
$
|
228,557
|
|
|
6
|
%
|
Interest-earning
assets
|
|
318,078
|
|
|
318,358
|
|
|
317,853
|
|
|
310,987
|
|
|
302,764
|
|
|
—
|
|
|
5
|
|
|
318,215
|
|
|
301,106
|
|
|
6
|
|
Total
assets
|
|
349,891
|
|
|
351,641
|
|
|
350,225
|
|
|
343,153
|
|
|
334,479
|
|
|
—
|
|
|
5
|
|
|
350,761
|
|
|
333,197
|
|
|
5
|
|
Interest-bearing
deposits
|
|
214,412
|
|
|
212,973
|
|
|
206,464
|
|
|
196,913
|
|
|
195,641
|
|
|
1
|
%
|
|
10
|
|
|
213,696
|
|
|
194,883
|
|
|
10
|
|
Total
deposits
|
|
240,550
|
|
|
238,550
|
|
|
232,204
|
|
|
222,251
|
|
|
221,146
|
|
|
1
|
|
|
9
|
|
|
239,555
|
|
|
220,163
|
|
|
9
|
|
Borrowings
|
|
48,838
|
|
|
53,357
|
|
|
58,624
|
|
|
60,708
|
|
|
54,359
|
|
|
(8)
|
|
|
(10)
|
|
|
51,085
|
|
|
54,060
|
|
|
(6)
|
|
Common
equity
|
|
44,645
|
|
|
43,833
|
|
|
43,921
|
|
|
45,314
|
|
|
45,640
|
|
|
2
|
|
|
(2)
|
|
|
44,241
|
|
|
45,711
|
|
|
(3)
|
|
Total stockholders'
equity
|
|
49,005
|
|
|
48,193
|
|
|
47,972
|
|
|
49,033
|
|
|
48,934
|
|
|
2
|
|
|
—
|
|
|
48,602
|
|
|
49,007
|
|
|
(1)
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF)
Table 2: Selected Metrics—Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
(Dollars in
millions, except as noted)
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Performance
Metrics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
growth (period over period)
|
|
—
|
|
|
—
|
|
|
3
|
%
|
|
4
|
%
|
|
1
|
%
|
|
**
|
|
|
**
|
|
|
8
|
%
|
|
11
|
%
|
|
**
|
|
Non-interest income
growth (period over period)
|
|
16
|
%
|
|
(5)
|
%
|
|
(5)
|
|
|
2
|
|
|
—
|
|
|
**
|
|
|
**
|
|
|
(1)
|
|
|
5
|
|
|
**
|
|
Total net revenue
growth (period over period)
|
|
3
|
|
|
—
|
|
|
2
|
|
|
3
|
|
|
1
|
|
|
**
|
|
|
**
|
|
|
6
|
|
|
10
|
|
|
**
|
|
Total net revenue
margin(6)
|
|
8.43
|
|
|
8.21
|
|
|
8.26
|
|
|
8.31
|
|
|
8.26
|
|
|
22
|
bps
|
|
17
|
bps
|
|
8.32
|
|
|
8.29
|
|
|
3
|
bps
|
Net interest
margin(7)
|
|
6.88
|
|
|
6.88
|
|
|
6.85
|
|
|
6.79
|
|
|
6.73
|
|
|
—
|
|
|
15
|
|
|
6.88
|
|
|
6.74
|
|
|
14
|
|
Return on average
assets
|
|
1.20
|
|
|
0.90
|
|
|
0.91
|
|
|
1.18
|
|
|
1.13
|
|
|
30
|
|
|
7
|
|
|
1.05
|
|
|
1.18
|
|
|
(13)
|
|
Return on average
tangible assets(8)
|
|
1.25
|
|
|
0.95
|
|
|
0.95
|
|
|
1.24
|
|
|
1.18
|
|
|
30
|
|
|
7
|
|
|
1.10
|
|
|
1.24
|
|
|
(14)
|
|
Return on average
common equity(9)
|
|
8.59
|
|
|
6.73
|
|
|
6.48
|
|
|
8.59
|
|
|
7.64
|
|
|
186
|
|
|
95
|
|
|
7.67
|
|
|
8.08
|
|
|
(41)
|
|
Return on average
tangible common equity(10)
|
|
13.09
|
|
|
10.37
|
|
|
10.00
|
|
|
13.06
|
|
|
11.61
|
|
|
272
|
|
|
148
|
|
|
11.75
|
|
|
12.28
|
|
|
(53)
|
|
Non-interest expense
as a percentage of average loans held for investment
|
|
5.64
|
|
|
5.69
|
|
|
6.13
|
|
|
5.70
|
|
|
5.72
|
|
|
(5)
|
|
|
(8)
|
|
|
5.66
|
|
|
5.70
|
|
|
(4)
|
|
Efficiency
ratio(11)
|
|
50.92
|
|
|
52.55
|
|
|
56.03
|
|
|
52.02
|
|
|
52.69
|
|
|
(163)
|
|
|
(177)
|
|
|
51.73
|
|
|
52.25
|
|
|
(52)
|
|
Effective income tax
rate for continuing operations
|
|
29.7
|
|
|
28.3
|
|
|
30.1
|
|
|
32.8
|
|
|
31.0
|
|
|
140
|
|
|
(130)
|
|
|
29.1
|
|
|
30.9
|
|
|
(180)
|
|
Employees (in
thousands), period-end
|
|
49.9
|
|
|
48.4
|
|
|
47.3
|
|
|
46.5
|
|
|
46.1
|
|
|
3
|
%
|
|
8
|
%
|
|
49.9
|
|
|
46.1
|
|
|
8
|
%
|
Credit Quality
Metrics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
and lease losses
|
|
$
|
7,170
|
|
|
$
|
6,984
|
|
|
$
|
6,503
|
|
|
$
|
6,258
|
|
|
$
|
5,881
|
|
|
3
|
%
|
|
22
|
%
|
|
$
|
7,170
|
|
|
$
|
5,881
|
|
|
22
|
%
|
Allowance as a
percentage of loans held for investment
|
|
2.93
|
%
|
|
2.90
|
%
|
|
2.65
|
%
|
|
2.63
|
%
|
|
2.51
|
%
|
|
3
|
bps
|
|
42
|
bps
|
|
2.93
|
%
|
|
2.51
|
%
|
|
42
|
bps
|
Net
charge-offs
|
|
$
|
1,618
|
|
|
$
|
1,510
|
|
|
$
|
1,489
|
|
|
$
|
1,240
|
|
|
$
|
1,155
|
|
|
7
|
%
|
|
40
|
%
|
|
$
|
3,128
|
|
|
$
|
2,333
|
|
|
34
|
%
|
Net charge-off
rate(12)
|
|
2.67
|
%
|
|
2.50
|
%
|
|
2.48
|
%
|
|
2.10
|
%
|
|
2.01
|
%
|
|
17
|
bps
|
|
66
|
bps
|
|
2.59
|
%
|
|
2.04
|
%
|
|
55
|
bps
|
30+ day performing
delinquency rate
|
|
2.69
|
|
|
2.61
|
|
|
2.93
|
|
|
2.71
|
|
|
2.47
|
|
|
8
|
|
|
22
|
|
|
2.69
|
|
|
2.47
|
|
|
22
|
|
30+ day delinquency
rate
|
|
2.99
|
|
|
2.92
|
|
|
3.27
|
|
|
3.04
|
|
|
2.79
|
|
|
7
|
|
|
20
|
|
|
2.99
|
|
|
2.79
|
|
|
20
|
|
Capital
Ratios(13)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common equity Tier 1
capital
|
|
10.7
|
%
|
|
10.4
|
%
|
|
10.1
|
%
|
|
10.6
|
%
|
|
10.9
|
%
|
|
30
|
bps
|
|
(20)
|
bps
|
|
10.7
|
%
|
|
10.9
|
%
|
|
(20)
|
bps
|
Tier 1
capital
|
|
12.2
|
|
|
12.0
|
|
|
11.6
|
|
|
12.0
|
|
|
12.2
|
|
|
20
|
|
|
—
|
|
|
12.2
|
|
|
12.2
|
|
|
—
|
|
Total
capital
|
|
14.9
|
|
|
14.7
|
|
|
14.3
|
|
|
14.7
|
|
|
14.4
|
|
|
20
|
|
|
50
|
|
|
14.9
|
|
|
14.4
|
|
|
50
|
|
Tier 1
leverage
|
|
10.3
|
|
|
9.9
|
|
|
9.9
|
|
|
10.1
|
|
|
10.2
|
|
|
40
|
|
|
10
|
|
|
10.3
|
|
|
10.2
|
|
|
10
|
|
Tangible common
equity ("TCE")(14)
|
|
8.8
|
|
|
8.5
|
|
|
8.1
|
|
|
8.8
|
|
|
9.0
|
|
|
30
|
|
|
(20)
|
|
|
8.8
|
|
|
9.0
|
|
|
(20)
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 3: Consolidated
Statements of Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
(Dollars in
millions, except per share data and as noted)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Interest
income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including
loans held for sale
|
|
$
|
5,669
|
|
|
$
|
5,626
|
|
|
$
|
5,587
|
|
|
$
|
5,383
|
|
|
$
|
5,148
|
|
|
1
|
%
|
|
10
|
%
|
|
$
|
11,295
|
|
|
$
|
10,233
|
|
|
10
|
%
|
Investment
securities
|
|
433
|
|
|
416
|
|
|
393
|
|
|
386
|
|
|
405
|
|
|
4
|
|
|
7
|
|
|
849
|
|
|
820
|
|
|
4
|
|
Other
|
|
26
|
|
|
28
|
|
|
29
|
|
|
25
|
|
|
18
|
|
|
(7)
|
|
|
44
|
|
|
54
|
|
|
35
|
|
|
54
|
|
Total interest
income
|
|
6,128
|
|
|
6,070
|
|
|
6,009
|
|
|
5,794
|
|
|
5,571
|
|
|
1
|
|
|
10
|
|
|
12,198
|
|
|
11,088
|
|
|
10
|
|
Interest
expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
382
|
|
|
353
|
|
|
332
|
|
|
306
|
|
|
292
|
|
|
8
|
|
|
31
|
|
|
735
|
|
|
575
|
|
|
28
|
|
Securitized debt
obligations
|
|
82
|
|
|
69
|
|
|
65
|
|
|
56
|
|
|
47
|
|
|
19
|
|
|
74
|
|
|
151
|
|
|
95
|
|
|
59
|
|
Senior and
subordinated notes
|
|
179
|
|
|
149
|
|
|
138
|
|
|
121
|
|
|
111
|
|
|
20
|
|
|
61
|
|
|
328
|
|
|
217
|
|
|
51
|
|
Other
borrowings
|
|
12
|
|
|
25
|
|
|
27
|
|
|
34
|
|
|
28
|
|
|
(52)
|
|
|
(57)
|
|
|
37
|
|
|
52
|
|
|
(29)
|
|
Total interest
expense
|
|
655
|
|
|
596
|
|
|
562
|
|
|
517
|
|
|
478
|
|
|
10
|
|
|
37
|
|
|
1,251
|
|
|
939
|
|
|
33
|
|
Net interest
income
|
|
5,473
|
|
|
5,474
|
|
|
5,447
|
|
|
5,277
|
|
|
5,093
|
|
|
—
|
|
|
7
|
|
|
10,947
|
|
|
10,149
|
|
|
8
|
|
Provision for credit
losses
|
|
1,800
|
|
|
1,992
|
|
|
1,752
|
|
|
1,588
|
|
|
1,592
|
|
|
(10)
|
|
|
13
|
|
|
3,792
|
|
|
3,119
|
|
|
22
|
|
Net interest income
after provision for credit losses
|
|
3,673
|
|
|
3,482
|
|
|
3,695
|
|
|
3,689
|
|
|
3,501
|
|
|
5
|
|
|
5
|
|
|
7,155
|
|
|
7,030
|
|
|
2
|
|
Non-interest
income:(15)(16)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges and
other customer-related fees
|
|
418
|
|
|
371
|
|
|
412
|
|
|
417
|
|
|
393
|
|
|
13
|
|
|
6
|
|
|
789
|
|
|
816
|
|
|
(3)
|
|
Interchange fees,
net
|
|
676
|
|
|
570
|
|
|
624
|
|
|
603
|
|
|
621
|
|
|
19
|
|
|
9
|
|
|
1,246
|
|
|
1,225
|
|
|
2
|
|
Net securities gains
(losses)
|
|
(4)
|
|
|
—
|
|
|
(4)
|
|
|
1
|
|
|
—
|
|
|
**
|
|
|
**
|
|
|
(4)
|
|
|
(8)
|
|
|
(50)
|
|
Other
|
|
141
|
|
|
120
|
|
|
87
|
|
|
163
|
|
|
147
|
|
|
18
|
|
|
(4)
|
|
|
261
|
|
|
292
|
|
|
(11)
|
|
Total non-interest
income
|
|
1,231
|
|
|
1,061
|
|
|
1,119
|
|
|
1,184
|
|
|
1,161
|
|
|
16
|
|
|
6
|
|
|
2,292
|
|
|
2,325
|
|
|
(1)
|
|
Non-interest
expense:(15)(16)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and
associate benefits
|
|
1,383
|
|
|
1,471
|
|
|
1,336
|
|
|
1,317
|
|
|
1,279
|
|
|
(6)
|
|
|
8
|
|
|
2,854
|
|
|
2,549
|
|
|
12
|
|
Occupancy and
equipment
|
|
474
|
|
|
471
|
|
|
522
|
|
|
499
|
|
|
465
|
|
|
1
|
|
|
2
|
|
|
945
|
|
|
923
|
|
|
2
|
|
Marketing
|
|
435
|
|
|
396
|
|
|
575
|
|
|
393
|
|
|
415
|
|
|
10
|
|
|
5
|
|
|
831
|
|
|
843
|
|
|
(1)
|
|
Professional
services
|
|
279
|
|
|
247
|
|
|
312
|
|
|
257
|
|
|
264
|
|
|
13
|
|
|
6
|
|
|
526
|
|
|
505
|
|
|
4
|
|
Communications and
data processing
|
|
289
|
|
|
288
|
|
|
297
|
|
|
291
|
|
|
302
|
|
|
—
|
|
|
(4)
|
|
|
577
|
|
|
582
|
|
|
(1)
|
|
Amortization of
intangibles
|
|
61
|
|
|
62
|
|
|
101
|
|
|
89
|
|
|
95
|
|
|
(2)
|
|
|
(36)
|
|
|
123
|
|
|
196
|
|
|
(37)
|
|
Other
|
|
493
|
|
|
499
|
|
|
536
|
|
|
515
|
|
|
475
|
|
|
(1)
|
|
|
4
|
|
|
992
|
|
|
920
|
|
|
8
|
|
Total non-interest
expense
|
|
3,414
|
|
|
3,434
|
|
|
3,679
|
|
|
3,361
|
|
|
3,295
|
|
|
(1)
|
|
|
4
|
|
|
6,848
|
|
|
6,518
|
|
|
5
|
|
Income from
continuing operations before income taxes
|
|
1,490
|
|
|
1,109
|
|
|
1,135
|
|
|
1,512
|
|
|
1,367
|
|
|
34
|
|
|
9
|
|
|
2,599
|
|
|
2,837
|
|
|
(8)
|
|
Income tax
provision
|
|
443
|
|
|
314
|
|
|
342
|
|
|
496
|
|
|
424
|
|
|
41
|
|
|
4
|
|
|
757
|
|
|
876
|
|
|
(14)
|
|
Income from
continuing operations, net of tax
|
|
1,047
|
|
|
795
|
|
|
793
|
|
|
1,016
|
|
|
943
|
|
|
32
|
|
|
11
|
|
|
1,842
|
|
|
1,961
|
|
|
(6)
|
|
Income (loss) from
discontinued operations, net of tax(2)
|
|
(11)
|
|
|
15
|
|
|
(2)
|
|
|
(11)
|
|
|
(1)
|
|
|
**
|
|
|
**
|
|
|
4
|
|
|
(6)
|
|
|
**
|
|
Net
income
|
|
1,036
|
|
|
810
|
|
|
791
|
|
|
1,005
|
|
|
942
|
|
|
28
|
|
|
10
|
|
|
1,846
|
|
|
1,955
|
|
|
(6)
|
|
Dividends and
undistributed earnings allocated to participating
securities(3)
|
|
(8)
|
|
|
(5)
|
|
|
(6)
|
|
|
(6)
|
|
|
(6)
|
|
|
60
|
|
|
33
|
|
|
(13)
|
|
|
(12)
|
|
|
8
|
|
Preferred stock
dividends
|
|
(80)
|
|
|
(53)
|
|
|
(75)
|
|
|
(37)
|
|
|
(65)
|
|
|
51
|
|
|
23
|
|
|
(133)
|
|
|
(102)
|
|
|
30
|
|
Net income
available to common stockholders
|
|
$
|
948
|
|
|
$
|
752
|
|
|
$
|
710
|
|
|
$
|
962
|
|
|
$
|
871
|
|
|
26
|
|
|
9
|
|
|
$
|
1,700
|
|
|
$
|
1,841
|
|
|
(8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
(Dollars in
millions, except per share data and as noted)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Basic earnings per
common share:(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
|
$
|
1.98
|
|
|
$
|
1.53
|
|
|
$
|
1.47
|
|
|
$
|
1.94
|
|
|
$
|
1.70
|
|
|
29
|
%
|
|
16
|
%
|
|
$
|
3.51
|
|
|
$
|
3.57
|
|
|
(2)
|
%
|
Income (loss) from
discontinued operations
|
|
(0.02)
|
|
|
0.03
|
|
|
—
|
|
|
(0.02)
|
|
|
—
|
|
|
**
|
|
|
**
|
|
|
0.01
|
|
|
(0.01)
|
|
|
**
|
|
Net income per basic
common share
|
|
$
|
1.96
|
|
|
$
|
1.56
|
|
|
$
|
1.47
|
|
|
$
|
1.92
|
|
|
$
|
1.70
|
|
|
26
|
|
|
15
|
|
|
$
|
3.52
|
|
|
$
|
3.56
|
|
|
(1)
|
|
Diluted earnings
per common share:(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
|
$
|
1.96
|
|
|
$
|
1.51
|
|
|
$
|
1.45
|
|
|
$
|
1.92
|
|
|
$
|
1.69
|
|
|
30
|
|
|
16
|
|
|
$
|
3.48
|
|
|
$
|
3.53
|
|
|
(1)
|
|
Income (loss) from
discontinued operations
|
|
(0.02)
|
|
|
0.03
|
|
|
—
|
|
|
(0.02)
|
|
|
—
|
|
|
**
|
|
|
**
|
|
|
0.01
|
|
|
(0.01)
|
|
|
**
|
|
Net income per
diluted common share
|
|
$
|
1.94
|
|
|
$
|
1.54
|
|
|
$
|
1.45
|
|
|
$
|
1.90
|
|
|
$
|
1.69
|
|
|
26
|
|
|
15
|
|
|
$
|
3.49
|
|
|
$
|
3.52
|
|
|
(1)
|
|
Weighted-average
common shares outstanding (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic common
shares
|
|
484.0
|
|
|
482.3
|
|
|
483.5
|
|
|
501.1
|
|
|
511.7
|
|
|
—
|
|
|
(5)
|
|
|
483.1
|
|
|
517.6
|
|
|
(7)
|
|
Diluted common
shares
|
|
488.1
|
|
|
487.9
|
|
|
489.2
|
|
|
505.9
|
|
|
516.5
|
|
|
—
|
|
|
(5)
|
|
|
487.7
|
|
|
522.3
|
|
|
(7)
|
|
Dividends paid per
common share
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
$
|
0.40
|
|
|
—
|
|
|
—
|
|
|
$
|
0.80
|
|
|
$
|
0.80
|
|
|
—
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 4: Consolidated Balance
Sheets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
(Dollars in
millions)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
|
$
|
3,352
|
|
|
$
|
3,489
|
|
|
$
|
4,185
|
|
|
$
|
3,350
|
|
|
$
|
3,253
|
|
|
(4)
|
%
|
|
3
|
%
|
Interest-bearing
deposits and other short-term investments
|
|
3,363
|
|
|
5,826
|
|
|
5,791
|
|
|
5,744
|
|
|
3,896
|
|
|
(42)
|
|
|
(14)
|
|
Total cash and cash
equivalents
|
|
6,715
|
|
|
9,315
|
|
|
9,976
|
|
|
9,094
|
|
|
7,149
|
|
|
(28)
|
|
|
(6)
|
|
Restricted cash for
securitization investors
|
|
300
|
|
|
486
|
|
|
2,517
|
|
|
287
|
|
|
265
|
|
|
(38)
|
|
|
13
|
|
Securities available
for sale, at fair value
|
|
41,120
|
|
|
41,260
|
|
|
40,737
|
|
|
41,511
|
|
|
39,960
|
|
|
—
|
|
|
3
|
|
Securities held to
maturity, at carrying value
|
|
27,720
|
|
|
26,170
|
|
|
25,712
|
|
|
25,019
|
|
|
25,120
|
|
|
6
|
|
|
10
|
|
Loans held for
investment:(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unsecuritized loans
held for investment
|
|
214,864
|
|
|
211,038
|
|
|
213,824
|
|
|
206,763
|
|
|
202,778
|
|
|
2
|
|
|
6
|
|
Loans held in
consolidated trusts
|
|
29,438
|
|
|
29,550
|
|
|
31,762
|
|
|
31,256
|
|
|
31,825
|
|
|
—
|
|
|
(8)
|
|
Total loans held for
investment
|
|
244,302
|
|
|
240,588
|
|
|
245,586
|
|
|
238,019
|
|
|
234,603
|
|
|
2
|
|
|
4
|
|
Allowance for loan
and lease losses
|
|
(7,170)
|
|
|
(6,984)
|
|
|
(6,503)
|
|
|
(6,258)
|
|
|
(5,881)
|
|
|
3
|
|
|
22
|
|
Net loans held for
investment
|
|
237,132
|
|
|
233,604
|
|
|
239,083
|
|
|
231,761
|
|
|
228,722
|
|
|
2
|
|
|
4
|
|
Loans held for sale,
at lower of cost or fair value
|
|
777
|
|
|
735
|
|
|
1,043
|
|
|
994
|
|
|
1,220
|
|
|
6
|
|
|
(36)
|
|
Premises and
equipment, net
|
|
3,825
|
|
|
3,727
|
|
|
3,675
|
|
|
3,561
|
|
|
3,556
|
|
|
3
|
|
|
8
|
|
Interest
receivable
|
|
1,346
|
|
|
1,368
|
|
|
1,351
|
|
|
1,251
|
|
|
1,236
|
|
|
(2)
|
|
|
9
|
|
Goodwill
|
|
14,524
|
|
|
14,521
|
|
|
14,519
|
|
|
14,493
|
|
|
14,495
|
|
|
—
|
|
|
—
|
|
Other
assets
|
|
17,134
|
|
|
17,363
|
|
|
18,420
|
|
|
17,090
|
|
|
17,394
|
|
|
(1)
|
|
|
(1)
|
|
Total
assets
|
|
$
|
350,593
|
|
|
$
|
348,549
|
|
|
$
|
357,033
|
|
|
$
|
345,061
|
|
|
$
|
339,117
|
|
|
1
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
(Dollars in
millions)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
payable
|
|
$
|
376
|
|
|
$
|
260
|
|
|
$
|
327
|
|
|
$
|
237
|
|
|
$
|
301
|
|
|
45
|
%
|
|
25
|
%
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest-bearing
deposits
|
|
25,953
|
|
|
26,364
|
|
|
25,502
|
|
|
25,565
|
|
|
25,424
|
|
|
(2)
|
|
|
2
|
|
Interest-bearing
deposits
|
|
213,810
|
|
|
214,818
|
|
|
211,266
|
|
|
200,416
|
|
|
195,635
|
|
|
—
|
|
|
9
|
|
Total
deposits
|
|
239,763
|
|
|
241,182
|
|
|
236,768
|
|
|
225,981
|
|
|
221,059
|
|
|
(1)
|
|
|
8
|
|
Securitized debt
obligations
|
|
18,358
|
|
|
18,528
|
|
|
18,826
|
|
|
18,411
|
|
|
16,130
|
|
|
(1)
|
|
|
14
|
|
Other
debt:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
purchased and securities loaned or sold under agreements to
repurchase
|
|
958
|
|
|
1,046
|
|
|
992
|
|
|
1,079
|
|
|
999
|
|
|
(8)
|
|
|
(4)
|
|
Senior and
subordinated notes
|
|
28,478
|
|
|
26,405
|
|
|
23,431
|
|
|
24,001
|
|
|
21,872
|
|
|
8
|
|
|
30
|
|
Other
borrowings
|
|
2,160
|
|
|
2,460
|
|
|
17,211
|
|
|
16,329
|
|
|
20,180
|
|
|
(12)
|
|
|
(89)
|
|
Total other
debt
|
|
31,596
|
|
|
29,911
|
|
|
41,634
|
|
|
41,409
|
|
|
43,051
|
|
|
6
|
|
|
(27)
|
|
Other
liabilities
|
|
11,363
|
|
|
10,628
|
|
|
11,964
|
|
|
10,810
|
|
|
10,468
|
|
|
7
|
|
|
9
|
|
Total
liabilities
|
|
301,456
|
|
|
300,509
|
|
|
309,519
|
|
|
296,848
|
|
|
291,009
|
|
|
—
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred
stock
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
—
|
|
|
—
|
|
Common
stock
|
|
7
|
|
|
7
|
|
|
7
|
|
|
7
|
|
|
7
|
|
|
—
|
|
|
—
|
|
Additional paid-in
capital, net
|
|
31,413
|
|
|
31,326
|
|
|
31,157
|
|
|
30,439
|
|
|
29,786
|
|
|
—
|
|
|
5
|
|
Retained
earnings
|
|
31,086
|
|
|
30,326
|
|
|
29,766
|
|
|
29,245
|
|
|
28,479
|
|
|
3
|
|
|
9
|
|
Accumulated other
comprehensive income (loss)
|
|
(683)
|
|
|
(934)
|
|
|
(949)
|
|
|
121
|
|
|
241
|
|
|
(27)
|
|
|
**
|
|
Treasury stock, at
cost
|
|
(12,686)
|
|
|
(12,685)
|
|
|
(12,467)
|
|
|
(11,599)
|
|
|
(10,405)
|
|
|
—
|
|
|
22
|
|
Total
stockholders' equity
|
|
49,137
|
|
|
48,040
|
|
|
47,514
|
|
|
48,213
|
|
|
48,108
|
|
|
2
|
|
|
2
|
|
Total liabilities
and stockholders' equity
|
|
$
|
350,593
|
|
|
$
|
348,549
|
|
|
$
|
357,033
|
|
|
$
|
345,061
|
|
|
$
|
339,117
|
|
|
1
|
|
|
3
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 5: Notes to Financial
Summary, Selected Metrics and Consolidated Financial Statements
(Tables 1—4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Total net
revenue was reduced by $313 million in Q2 2017, $321 million in
both Q1 2017 and Q4 2016, $289 million in Q3 2016 and $244 million
in Q2 2016 for the estimated uncollectible amount of billed
finance
charges and fees and related losses
|
(2) The provision
(benefit) for mortgage representation and warranty losses included
the following activity:
|
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
(Dollars in
millions)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
Provision (benefit)
for mortgage representation and warranty losses before income
taxes:
|
|
|
|
|
|
|
|
|
|
|
Recorded in
continuing operations
|
|
$
|
—
|
|
|
$
|
(25)
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(1)
|
|
Recorded in
discontinued operations
|
|
6
|
|
|
(67)
|
|
|
(2)
|
|
|
18
|
|
|
2
|
|
Total provision
(benefit) for mortgage representation and warranty losses before
income taxes
|
|
$
|
6
|
|
|
$
|
(92)
|
|
|
$
|
(2)
|
|
|
$
|
18
|
|
|
$
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
The
mortgage representation and warranty reserve was $521 million as of
June 30, 2017, $516 million as of March 31, 2017, $630 million as
of December 31, 2016, $632 million as of September 30, 2016 and
$614
million as of June 30, 2016.
|
|
|
|
|
|
|
|
(3) Dividends and
undistributed earnings allocated to participating securities and
earnings per share are computed independently for each period.
Accordingly, the sum of each quarterly amount may not agree to the
year-to-
date total. We also provide adjusted
diluted earnings per share, which is a non-GAAP measure. See "Table
15: Calculation of Regulatory Capital Measures and Reconciliation
of Non-GAAP Measures" for additional
information on our non-GAAP
measures.
|
(4) Tangible book
value per common share is a non-GAAP measure calculated based on
tangible common equity divided by common shares outstanding. See
"Table 15: Calculation of Regulatory Capital Measures
and
Reconciliation of Non-GAAP
Measures" for additional information on non-GAAP
measures.
|
(5) Included in
loans held for investment are purchased credit-impaired loans ("PCI
loans") recorded at fair value at acquisition and subsequently
accounted for based on estimated cash flows expected to be
collected over
the
life of the loans (under the accounting standard formerly
known as "SOP 03-3," or Accounting Standards Codification 310-30).
These include certain of our consumer and commercial loans that
were acquired through
business combinations. The table below presents amounts
related to PCI loans:
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
(Dollars in
millions)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
PCI loans:
|
|
|
|
|
|
|
|
|
|
|
Period-end unpaid
principal balance
|
|
$
|
13,599
|
|
|
$
|
14,838
|
|
|
$
|
15,896
|
|
|
$
|
17,011
|
|
|
$
|
18,256
|
|
Period-end loans held
for investment
|
|
12,895
|
|
|
14,102
|
|
|
15,071
|
|
|
16,149
|
|
|
17,358
|
|
Average loans held
for investment
|
|
13,305
|
|
|
14,433
|
|
|
15,443
|
|
|
16,529
|
|
|
17,783
|
|
|
(6) Total net
revenue margin is calculated based on annualized total net revenue
for the period divided by average interest-earning assets for the
period.
|
(7) Net interest
margin is calculated based on annualized net interest income for
the period divided by average interest-earning assets for the
period.
|
(8) Return on
average tangible assets is a non-GAAP measure calculated based on
annualized income from continuing operations, net of tax, for the
period divided by average tangible assets for the period. See
"Table 15:
Calculation of Regulatory Capital Measures and Reconciliation of
Non-GAAP Measures" for additional information on non-GAAP
measures.
|
(9) Return on
average common equity is calculated based on annualized (i) income
from continuing operations, net of tax; (ii) less dividends and
undistributed earnings allocated to participating securities; (iii)
less preferred
stock dividends, for the period, divided by average common
equity for the period. Our calculation of return on average common
equity may not be comparable to similarly-titled measures reported
by other companies.
|
(10) Return on average
tangible common equity ("ROTCE") is a non-GAAP measure calculated
based on annualized (i) income from continuing operations, net of
tax; (ii) less dividends and undistributed earnings
allocated
to
participating securities; (iii) less preferred stock dividends, for
the period, divided by average tangible common equity for the
period. Our calculation of ROTCE may not be comparable to
similarly-titled measures.
reported by other companies. See "Table 15: Calculation of
Regulatory Capital Measures and Reconciliation of Non-GAAP
Measures" for additional information on non-GAAP
measures.
|
(11) Efficiency ratio is
calculated based on total non-interest expense for the period
divided by total net revenue for the period. We also provide an
adjusted efficiency ratio, which is a non-GAAP measure. See "Table
15:
Calculation of Regulatory Capital Measures and Reconciliation
of Non-GAAP Measures" for additional information on our non-GAAP
measures.
|
(12) Net charge-off rate
is calculated based on annualized net charge-offs for the period
divided by average loans held for investment for the
period.
|
(13) Capital ratios as
of the end of Q2 2017 are preliminary and therefore subject to
change. See "Table 15: Calculation of Regulatory Capital Measures
and Reconciliation of Non-GAAP Measures" for information on
the
calculation
of each of these ratios.
|
(14) TCE ratio is a
non-GAAP measure calculated based on TCE divided by tangible
assets. See "Table 15: Calculation of Regulatory Capital Measures
and Reconciliation of Non-GAAP Measures" for additional
information
on non-GAAP measures.
|
(15) We made certain
Non-interest income and Non-interest expense reclassifications in
Q4 2016. The changes were primarily related to a reclassification
of certain consumer and commercial banking income from Other
to
Service charges and other customer-related fees within
Non-interest income, and a reclassification of certain system
processing costs from Professional services to Communications and
data processing within Non-
interest expense. We also consolidated the Non-interest income
presentation of Other-than-temporary impairment ("OTTI") with net
realized gains or losses from investment securities into a new Net
securities gains
(losses) line. These reclassifications were made to better reflect
the nature of income earned and expenses incurred. All prior period
amounts presented have been reclassified to conform to the current
period
presentation.
|
(16) The primary net
effects of the reclassifications discussed in footnote 15 above for
Q2 2016 and the six months ended June 30, 2016, compared to
previously reported results were (i) an increase to Service charges
and
other customer-related fees of $22 million and $41 million,
respectively; (ii) a decrease to Other non-interest income of $29
million and $56 million, respectively; and (iii) increases to
Communications and data processing
expense of $40 million and $77 million, respectively, with
corresponding decreases to Professional services.
|
** Not
meaningful.
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 6: Average Balances,
Net Interest Income and Net Interest Margin
|
|
|
2017
Q2
|
|
2017
Q1
|
|
2016
Q2
|
|
|
Average
Balance
|
|
Interest
Income/
Expense(1)
|
|
Yield/
Rate(1)
|
|
Average
Balance
|
|
Interest
Income/
Expense(1)
|
|
Yield/
Rate(1)
|
|
Average
Balance
|
|
Interest
Income/
Expense(1)
|
|
Yield/
Rate(1)
|
(Dollars in
millions, except as
noted)
|
|
|
|
|
|
|
|
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including
loans held for sale
|
|
$
|
242,967
|
|
|
$
|
5,669
|
|
|
9.33
|
%
|
|
$
|
242,249
|
|
|
$
|
5,626
|
|
|
9.29
|
%
|
|
$
|
231,496
|
|
|
$
|
5,148
|
|
|
8.90
|
%
|
Investment
securities
|
|
68,857
|
|
|
433
|
|
|
2.52
|
|
|
68,418
|
|
|
416
|
|
|
2.43
|
|
|
65,754
|
|
|
405
|
|
|
2.46
|
|
Cash equivalents and
other
|
|
6,254
|
|
|
26
|
|
|
1.66
|
|
|
7,691
|
|
|
28
|
|
|
1.46
|
|
|
5,514
|
|
|
18
|
|
|
1.31
|
|
Total
interest-earning assets
|
|
$
|
318,078
|
|
|
$
|
6,128
|
|
|
7.71
|
|
|
$
|
318,358
|
|
|
$
|
6,070
|
|
|
7.63
|
|
|
$
|
302,764
|
|
|
$
|
5,571
|
|
|
7.36
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
deposits
|
|
$
|
214,412
|
|
|
$
|
382
|
|
|
0.71
|
|
|
$
|
212,973
|
|
|
$
|
353
|
|
|
0.66
|
|
|
$
|
195,641
|
|
|
$
|
292
|
|
|
0.60
|
|
Securitized debt
obligations
|
|
18,400
|
|
|
82
|
|
|
1.78
|
|
|
17,176
|
|
|
69
|
|
|
1.61
|
|
|
15,226
|
|
|
47
|
|
|
1.23
|
|
Senior and
subordinated notes
|
|
27,821
|
|
|
179
|
|
|
2.57
|
|
|
24,804
|
|
|
149
|
|
|
2.40
|
|
|
21,717
|
|
|
111
|
|
|
2.04
|
|
Other borrowings and
liabilities
|
|
3,656
|
|
|
12
|
|
|
1.31
|
|
|
12,356
|
|
|
25
|
|
|
0.81
|
|
|
18,255
|
|
|
28
|
|
|
0.61
|
|
Total
interest-bearing liabilities
|
|
$
|
264,289
|
|
|
$
|
655
|
|
|
0.99
|
|
|
$
|
267,309
|
|
|
$
|
596
|
|
|
0.89
|
|
|
$
|
250,839
|
|
|
$
|
478
|
|
|
0.76
|
|
Net interest
income/spread
|
|
|
|
$
|
5,473
|
|
|
6.72
|
|
|
|
|
$
|
5,474
|
|
|
6.74
|
|
|
|
|
$
|
5,093
|
|
|
6.60
|
|
Impact of
non-interest-bearing funding
|
|
|
|
|
|
0.16
|
|
|
|
|
|
|
0.14
|
|
|
|
|
|
|
0.13
|
|
Net interest
margin
|
|
|
|
|
|
6.88
|
%
|
|
|
|
|
|
6.88
|
%
|
|
|
|
|
|
6.73
|
%
|
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2016
|
|
|
Average
Balance
|
|
Interest
Income/
Expense(1)
|
|
Yield/
Rate(1)
|
|
Average
Balance
|
|
Interest
Income/
Expense(1)
|
|
Yield/
Rate(1)
|
(Dollars in
millions, except as
noted)
|
|
|
|
|
|
|
Interest-earning
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including
loans held for sale
|
|
$
|
242,610
|
|
|
$
|
11,295
|
|
|
9.31
|
%
|
|
$
|
229,534
|
|
|
$
|
10,233
|
|
|
8.92
|
%
|
Investment
securities
|
|
68,637
|
|
|
849
|
|
|
2.47
|
|
|
65,455
|
|
|
820
|
|
|
2.51
|
|
Cash equivalents and
other
|
|
6,968
|
|
|
54
|
|
|
1.55
|
|
|
6,117
|
|
|
35
|
|
|
1.14
|
|
Total
interest-earning assets
|
|
$
|
318,215
|
|
|
$
|
12,198
|
|
|
7.67
|
|
|
$
|
301,106
|
|
|
$
|
11,088
|
|
|
7.36
|
|
Interest-bearing
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
deposits
|
|
$
|
213,696
|
|
|
$
|
735
|
|
|
0.69
|
|
|
$
|
194,883
|
|
|
$
|
575
|
|
|
0.59
|
|
Securitized debt
obligations
|
|
17,791
|
|
|
151
|
|
|
1.70
|
|
|
15,293
|
|
|
95
|
|
|
1.24
|
|
Senior and
subordinated notes
|
|
26,321
|
|
|
328
|
|
|
2.49
|
|
|
21,855
|
|
|
217
|
|
|
1.99
|
|
Other borrowings and
liabilities
|
|
7,981
|
|
|
37
|
|
|
0.93
|
|
|
17,716
|
|
|
52
|
|
|
0.59
|
|
Total
interest-bearing liabilities
|
|
$
|
265,789
|
|
|
$
|
1,251
|
|
|
0.94
|
|
|
$
|
249,747
|
|
|
$
|
939
|
|
|
0.75
|
|
Net interest
income/spread
|
|
|
|
$
|
10,947
|
|
|
6.73
|
|
|
|
|
$
|
10,149
|
|
|
6.61
|
|
Impact of
non-interest-bearing funding
|
|
|
|
|
|
0.15
|
|
|
|
|
|
|
0.13
|
|
Net interest
margin
|
|
|
|
|
|
6.88
|
%
|
|
|
|
|
|
6.74
|
%
|
__________
|
(1) Interest income and
interest expense and the calculation of average yields on
interest-earning assets and average rates on interest-bearing
liabilities include the impact of hedge accounting.
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 7: Loan Information and
Performance
Statistics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
(Dollars in
millions, except as noted)
|
|
2017
Q2
|
|
2017
Q1
|
|
2016
Q4
|
|
2016
Q3
|
|
2016
Q2
|
|
2017
Q1
|
|
2016
Q2
|
|
2017
|
|
2016
|
|
2017 vs.
2016
|
Loans Held For
Investment (Period-End)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit
card:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
credit card
|
|
$
|
92,866
|
|
|
$
|
91,092
|
|
|
$
|
97,120
|
|
|
$
|
90,955
|
|
|
$
|
88,581
|
|
|
2
|
%
|
|
5
|
%
|
|
$
|
92,866
|
|
|
$
|
88,581
|
|
|
5
|
%
|
International card businesses
|
|
8,724
|
|
|
8,121
|
|
|
8,432
|
|
|
8,246
|
|
|
8,323
|
|
|
7
|
|
|
5
|
|
|
8,724
|
|
|
8,323
|
|
|
5
|
|
Total credit
card
|
|
101,590
|
|
|
99,213
|
|
|
105,552
|
|
|
99,201
|
|
|
96,904
|
|
|
2
|
|
|
5
|
|
|
101,590
|
|
|
96,904
|
|
|
5
|
|
Consumer
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto
|
|
51,765
|
|
|
49,771
|
|
|
47,916
|
|
|
46,311
|
|
|
44,502
|
|
|
4
|
|
|
16
|
|
|
51,765
|
|
|
44,502
|
|
|
16
|
|
Home
loan
|
|
19,724
|
|
|
20,738
|
|
|
21,584
|
|
|
22,448
|
|
|
23,358
|
|
|
(5)
|
|
|
(16)
|
|
|
19,724
|
|
|
23,358
|
|
|
(16)
|
|
Retail
banking
|
|
3,484
|
|
|
3,473
|
|
|
3,554
|
|
|
3,526
|
|
|
3,555
|
|
|
—
|
|
|
(2)
|
|
|
3,484
|
|
|
3,555
|
|
|
(2)
|
|
Total consumer
banking
|
|
74,973
|
|
|
73,982
|
|
|
73,054
|
|
|
72,285
|
|
|
71,415
|
|
|
1
|
|
|
5
|
|
|
74,973
|
|
|
71,415
|
|
|
5
|
|
Commercial
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and multifamily real estate
|
|
27,428
|
|
|
27,218
|
|
|
26,609
|
|
|
26,507
|
|
|
26,341
|
|
|
1
|
|
|
4
|
|
|
27,428
|
|
|
26,341
|
|
|
4
|
|
Commercial and industrial
|
|
39,801
|
|
|
39,638
|
|
|
39,824
|
|
|
39,432
|
|
|
39,313
|
|
|
—
|
|
|
1
|
|
|
39,801
|
|
|
39,313
|
|
|
1
|
|
Total commercial
lending
|
|
67,229
|
|
|
66,856
|
|
|
66,433
|
|
|
65,939
|
|
|
65,654
|
|
|
1
|
|
|
2
|
|
|
67,229
|
|
|
65,654
|
|
|
2
|
|
Small-ticket commercial real estate
|
|
443
|
|
|
464
|
|
|
483
|
|
|
518
|
|
|
548
|
|
|
(5)
|
|
|
(19)
|
|
|
443
|
|
|
548
|
|
|
(19)
|
|
Total commercial
banking
|
|
67,672
|
|
|
67,320
|
|
|
66,916
|
|
|
66,457
|
|
|
66,202
|
|
|
1
|
|
|
2
|
|
|
67,672
|
|
|
66,202
|
|
|
2
|
|
Other
loans
|
|
67
|
|
|
73
|
|
|
64
|
|
|
76
|
|
|
82
|
|
|
(8)
|
|
|
(18)
|
|
|
67
|
|
|
82
|
|
|
(18)
|
|
Total loans held for
investment
|
|
$
|
244,302
|
|
|
$
|
240,588
|
|
|
$
|
245,586
|
|
|
$
|
238,019
|
|
|
$
|
234,603
|
|
|
2
|
|
|
4
|
|
|
$
|
244,302
|
|
|
$
|
234,603
|
|
|
4
|
|
Loans Held For
Investment (Average)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit
card:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
credit card
|
|
$
|
91,769
|
|
|
$
|
93,034
|
|
|
$
|
92,623
|
|
|
$
|
89,763
|
|
|
$
|
85,981
|
|
|
(1)%
|
|
|
7
|
%
|
|
$
|
92,398
|
|
|
$
|
85,564
|
|
|
8
|
%
|
International card businesses
|
|
8,274
|
|
|
8,135
|
|
|
8,168
|
|
|
8,253
|
|
|
8,401
|
|
|
2
|
|
|
(2)
|
|
|
8,205
|
|
|
8,120
|
|
|
1
|
|
Total credit
card
|
|
100,043
|
|
|
101,169
|
|
|
100,791
|
|
|
98,016
|
|
|
94,382
|
|
|
(1)
|
|
|
6
|
|
|
100,603
|
|
|
93,684
|
|
|
7
|
|
Consumer
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto
|
|
50,803
|
|
|
48,673
|
|
|
47,126
|
|
|
45,355
|
|
|
43,605
|
|
|
4
|
|
|
17
|
|
|
49,743
|
|
|
42,784
|
|
|
16
|
|
Home
loan
|
|
20,203
|
|
|
21,149
|
|
|
21,984
|
|
|
22,852
|
|
|
23,835
|
|
|
(4)
|
|
|
(15)
|
|
|
20,674
|
|
|
24,308
|
|
|
(15)
|
|
Retail
banking
|
|
3,463
|
|
|
3,509
|
|
|
3,549
|
|
|
3,520
|
|
|
3,548
|
|
|
(1)
|
|
|
(2)
|
|
|
3,486
|
|
|
3,550
|
|
|
(2)
|
|
Total consumer
banking
|
|
74,469
|
|
|
73,331
|
|
|
72,659
|
|
|
71,727
|
|
|
70,988
|
|
|
2
|
|
|
5
|
|
|
73,903
|
|
|
70,642
|
|
|
5
|
|
Commercial
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and multifamily real estate
|
|
27,401
|
|
|
26,587
|
|
|
26,445
|
|
|
26,154
|
|
|
25,661
|
|
|
3
|
|
|
7
|
|
|
26,997
|
|
|
25,338
|
|
|
7
|
|
Commercial and industrial
|
|
39,815
|
|
|
39,877
|
|
|
39,573
|
|
|
39,346
|
|
|
38,713
|
|
|
—
|
|
|
3
|
|
|
39,845
|
|
|
38,237
|
|
|
4
|
|
Total commercial
lending
|
|
67,216
|
|
|
66,464
|
|
|
66,018
|
|
|
65,500
|
|
|
64,374
|
|
|
1
|
|
|
4
|
|
|
66,842
|
|
|
63,575
|
|
|
5
|
|
Small-ticket commercial real estate
|
|
453
|
|
|
474
|
|
|
497
|
|
|
534
|
|
|
564
|
|
|
(4)
|
|
|
(20)
|
|
|
463
|
|
|
581
|
|
|
(20)
|
|
Total commercial
banking
|
|
67,669
|
|
|
66,938
|
|
|
66,515
|
|
|
66,034
|
|
|
64,938
|
|
|
1
|
|
|
4
|
|
|
67,305
|
|
|
64,156
|
|
|
5
|
|
Other
loans
|
|
60
|
|
|
67
|
|
|
62
|
|
|
66
|
|
|
71
|
|
|
(10)
|
|
|
(15)
|
|
|
64
|
|
|
75
|
|
|
(15)
|
|
Total average loans
held for investment
|
|
$
|
242,241
|
|
|
$
|
241,505
|
|
|
$
|
240,027
|
|
|
$
|
235,843
|
|
|
$
|
230,379
|
|
|
—
|
|
|
5
|
|
|
$
|
241,875
|
|
|
$
|
228,557
|
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
Q2
|
|
2017
Q1
|
|
2016
Q4
|
|
2016
Q3
|
|
2016
Q2
|
|
2017
Q1
|
|
2016
Q2
|
|
2017
|
|
2016
|
|
2017 vs.
2016
|
Net Charge-Off
(Recovery) Rates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit
card:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
credit card
|
|
5.11
|
%
|
|
5.14
|
%
|
|
4.66
|
%
|
|
3.74
|
%
|
|
4.07
|
%
|
|
(3)
|
bps
|
|
104
|
bps
|
|
5.12
|
%
|
|
4.12
|
%
|
|
100
|
bps
|
International card businesses
|
|
4.08
|
|
|
3.69
|
|
|
3.35
|
|
|
3.18
|
|
|
3.54
|
|
|
39
|
|
|
54
|
|
|
3.88
|
|
|
3.39
|
|
|
49
|
|
Total credit
card
|
|
5.02
|
|
|
5.02
|
|
|
4.56
|
|
|
3.70
|
|
|
4.02
|
|
|
—
|
|
|
100
|
|
|
5.02
|
|
|
4.05
|
|
|
97
|
|
Consumer
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto(1)
|
|
1.70
|
|
|
1.64
|
|
|
2.07
|
|
|
1.85
|
|
|
1.20
|
|
|
6
|
|
|
50
|
|
|
1.67
|
|
|
1.39
|
|
|
28
|
|
Home
loan
|
|
0.04
|
|
|
0.03
|
|
|
0.08
|
|
|
0.03
|
|
|
0.09
|
|
|
1
|
|
|
(5)
|
|
|
0.03
|
|
|
0.07
|
|
|
(4)
|
|
Retail
banking
|
|
1.71
|
|
|
1.92
|
|
|
1.73
|
|
|
1.75
|
|
|
1.26
|
|
|
(21)
|
|
|
45
|
|
|
1.81
|
|
|
1.31
|
|
|
50
|
|
Total consumer
banking(1)
|
|
1.25
|
|
|
1.19
|
|
|
1.45
|
|
|
1.26
|
|
|
0.83
|
|
|
6
|
|
|
42
|
|
|
1.22
|
|
|
0.93
|
|
|
29
|
|
Commercial
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and multifamily real estate
|
|
0.03
|
|
|
—
|
|
|
(0.02)
|
|
|
0.01
|
|
|
(0.02)
|
|
|
**
|
|
|
**
|
|
|
0.02
|
|
|
(0.02)
|
|
|
**
|
|
Commercial and industrial
|
|
1.34
|
|
|
0.22
|
|
|
0.80
|
|
|
1.09
|
|
|
0.62
|
|
|
112
|
|
|
72
|
|
|
0.78
|
|
|
0.56
|
|
|
22
|
|
Total commercial
lending
|
|
0.81
|
|
|
0.13
|
|
|
0.47
|
|
|
0.66
|
|
|
0.37
|
|
|
68
|
|
|
44
|
|
|
0.47
|
|
|
0.33
|
|
|
14
|
|
Small-ticket commercial real estate
|
|
(0.22)
|
|
|
1.05
|
|
|
(0.02)
|
|
|
0.74
|
|
|
0.33
|
|
|
**
|
|
|
**
|
|
|
0.43
|
|
|
0.23
|
|
|
20
|
|
Total commercial
banking
|
|
0.80
|
|
|
0.14
|
|
|
0.47
|
|
|
0.66
|
|
|
0.37
|
|
|
66
|
|
|
43
|
|
|
0.47
|
|
|
0.33
|
|
|
14
|
|
Total net
charge-offs
|
|
2.67
|
|
|
2.50
|
|
|
2.48
|
|
|
2.10
|
|
|
2.01
|
|
|
17
|
|
|
66
|
|
|
2.59
|
|
|
2.04
|
|
|
55
|
|
30+ Day Performing
Delinquency Rates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit
card:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
credit card
|
|
3.63
|
%
|
|
3.71
|
%
|
|
3.95
|
%
|
|
3.68
|
%
|
|
3.14
|
%
|
|
(8)
|
bps
|
|
49
|
bps
|
|
3.63
|
%
|
|
3.14
|
%
|
|
49
|
bps
|
International card businesses
|
|
3.28
|
|
|
3.39
|
|
|
3.36
|
|
|
3.33
|
|
|
3.24
|
|
|
(11)
|
|
|
4
|
|
|
3.28
|
|
|
3.24
|
|
|
4
|
|
Total credit
card
|
|
3.60
|
|
|
3.68
|
|
|
3.91
|
|
|
3.65
|
|
|
3.15
|
|
|
(8)
|
|
|
45
|
|
|
3.60
|
|
|
3.15
|
|
|
45
|
|
Consumer
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto
|
|
5.40
|
|
|
5.03
|
|
|
6.12
|
|
|
5.67
|
|
|
5.59
|
|
|
37
|
|
|
(19)
|
|
|
5.40
|
|
|
5.59
|
|
|
(19)
|
|
Home
loan
|
|
0.14
|
|
|
0.15
|
|
|
0.20
|
|
|
0.19
|
|
|
0.14
|
|
|
(1)
|
|
|
—
|
|
|
0.14
|
|
|
0.14
|
|
|
—
|
|
Retail
banking
|
|
0.54
|
|
|
0.59
|
|
|
0.70
|
|
|
0.59
|
|
|
0.62
|
|
|
(5)
|
|
|
(8)
|
|
|
0.54
|
|
|
0.62
|
|
|
(8)
|
|
Total consumer
banking
|
|
3.79
|
|
|
3.45
|
|
|
4.10
|
|
|
3.72
|
|
|
3.56
|
|
|
34
|
|
|
23
|
|
|
3.79
|
|
|
3.56
|
|
|
23
|
|
Nonperforming
Loans and Nonperforming Assets
Rates(2)(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit
card:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International card businesses
|
|
0.37
|
%
|
|
0.47
|
%
|
|
0.50
|
%
|
|
0.53
|
%
|
|
0.53
|
%
|
|
(10)
|
bps
|
|
(16)
|
bps
|
|
0.37
|
%
|
|
0.53
|
%
|
|
(16)
|
bps
|
Total credit
card
|
|
0.03
|
|
|
0.04
|
|
|
0.04
|
|
|
0.04
|
|
|
0.05
|
|
|
(1)
|
|
|
(2)
|
|
|
0.03
|
|
|
0.05
|
|
|
(2)
|
|
Consumer
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto
|
|
0.53
|
|
|
0.36
|
|
|
0.47
|
|
|
0.43
|
|
|
0.38
|
|
|
17
|
|
|
15
|
|
|
0.53
|
|
|
0.38
|
|
|
15
|
|
Home
loan
|
|
1.31
|
|
|
1.27
|
|
|
1.26
|
|
|
1.23
|
|
|
1.24
|
|
|
4
|
|
|
7
|
|
|
1.31
|
|
|
1.24
|
|
|
7
|
|
Retail
banking
|
|
0.96
|
|
|
0.82
|
|
|
0.86
|
|
|
1.05
|
|
|
0.89
|
|
|
14
|
|
|
7
|
|
|
0.96
|
|
|
0.89
|
|
|
7
|
|
Total consumer
banking
|
|
0.75
|
|
|
0.64
|
|
|
0.72
|
|
|
0.71
|
|
|
0.69
|
|
|
11
|
|
|
6
|
|
|
0.75
|
|
|
0.69
|
|
|
6
|
|
Commercial
banking:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and multifamily real estate
|
|
0.13
|
|
|
0.13
|
|
|
0.11
|
|
|
0.08
|
|
|
0.10
|
|
|
—
|
|
|
3
|
|
|
0.13
|
|
|
0.10
|
|
|
3
|
|
Commercial and industrial
|
|
1.62
|
|
|
2.02
|
|
|
2.48
|
|
|
2.44
|
|
|
2.58
|
|
|
(40)
|
|
|
(96)
|
|
|
1.62
|
|
|
2.58
|
|
|
(96)
|
|
Total commercial
lending
|
|
1.01
|
|
|
1.25
|
|
|
1.53
|
|
|
1.49
|
|
|
1.59
|
|
|
(24)
|
|
|
(58)
|
|
|
1.01
|
|
|
1.59
|
|
|
(58)
|
|
Small-ticket commercial real estate
|
|
1.89
|
|
|
1.65
|
|
|
0.85
|
|
|
2.13
|
|
|
1.59
|
|
|
24
|
|
|
30
|
|
|
1.89
|
|
|
1.59
|
|
|
30
|
|
Total commercial
banking
|
|
1.01
|
|
|
1.25
|
|
|
1.53
|
|
|
1.50
|
|
|
1.59
|
|
|
(24)
|
|
|
(58)
|
|
|
1.01
|
|
|
1.59
|
|
|
(58)
|
|
Total nonperforming
loans
|
|
0.53
|
|
|
0.57
|
|
|
0.65
|
|
|
0.66
|
|
|
0.68
|
|
|
(4)
|
|
|
(15)
|
|
|
0.53
|
|
|
0.68
|
|
|
(15)
|
|
Total nonperforming
assets
|
|
0.60
|
|
|
0.66
|
|
|
0.76
|
|
|
0.77
|
|
|
0.80
|
|
|
(6)
|
|
|
(20)
|
|
|
0.60
|
|
|
0.80
|
|
|
(20)
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 8: Allowance for Loan
and Lease Losses and Reserve for Unfunded Lending Commitments
Activity
|
|
|
|
|
|
Three Months Ended
June 30, 2017
|
|
|
Credit
Card
|
|
Consumer
Banking
|
|
|
|
|
|
|
(Dollars in
millions)
|
|
Domestic
Card
|
|
International Card
Businesses
|
|
Total Credit
Card
|
|
Auto
|
|
Home
Loan
|
|
Retail
Banking
|
|
Total
Consumer
Banking
|
|
Commercial
Banking
|
|
Other(4)
|
|
Total
|
Allowance for loan
and lease losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March
31, 2017
|
|
$
|
4,670
|
|
|
$
|
388
|
|
|
$
|
5,058
|
|
|
$
|
1,028
|
|
|
$
|
60
|
|
|
$
|
75
|
|
|
$
|
1,163
|
|
|
$
|
761
|
|
|
$
|
2
|
|
|
$
|
6,984
|
|
Charge-offs
|
|
(1,454)
|
|
|
(118)
|
|
|
(1,572)
|
|
|
(369)
|
|
|
(3)
|
|
|
(18)
|
|
|
(390)
|
|
|
(140)
|
|
|
—
|
|
|
(2,102)
|
|
Recoveries
|
|
282
|
|
|
34
|
|
|
316
|
|
|
154
|
|
|
1
|
|
|
3
|
|
|
158
|
|
|
4
|
|
|
6
|
|
|
484
|
|
Net
charge-offs
|
|
(1,172)
|
|
|
(84)
|
|
|
(1,256)
|
|
|
(215)
|
|
|
(2)
|
|
|
(15)
|
|
|
(232)
|
|
|
(136)
|
|
|
6
|
|
|
(1,618)
|
|
Provision (benefit)
for loan and lease losses
|
|
1,327
|
|
|
70
|
|
|
1,397
|
|
|
253
|
|
|
1
|
|
|
14
|
|
|
268
|
|
|
141
|
|
|
(5)
|
|
|
1,801
|
|
Allowance build
(release) for loan and lease losses
|
|
155
|
|
|
(14)
|
|
|
141
|
|
|
38
|
|
|
(1)
|
|
|
(1)
|
|
|
36
|
|
|
5
|
|
|
1
|
|
|
183
|
|
Other
changes(5)
|
|
—
|
|
|
11
|
|
|
11
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8)
|
|
|
—
|
|
|
3
|
|
Balance as of June
30, 2017
|
|
4,825
|
|
|
385
|
|
|
5,210
|
|
|
1,066
|
|
|
59
|
|
|
74
|
|
|
1,199
|
|
|
758
|
|
|
3
|
|
|
7,170
|
|
Reserve for
unfunded lending commitments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March
31, 2017
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
133
|
|
|
—
|
|
|
140
|
|
Benefit for losses on
unfunded lending commitments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1)
|
|
|
—
|
|
|
(1)
|
|
Balance as of June
30, 2017
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
132
|
|
|
—
|
|
|
139
|
|
Combined allowance
and reserve as of June 30,
2017
|
|
$
|
4,825
|
|
|
$
|
385
|
|
|
$
|
5,210
|
|
|
$
|
1,066
|
|
|
$
|
59
|
|
|
$
|
81
|
|
|
$
|
1,206
|
|
|
$
|
890
|
|
|
$
|
3
|
|
|
$
|
7,309
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2017
|
|
|
Credit
Card
|
|
Consumer
Banking
|
|
|
|
|
|
|
(Dollars in
millions)
|
|
Domestic
Card
|
|
International Card
Businesses
|
|
Total Credit
Card
|
|
Auto
|
|
Home
Loan
|
|
Retail
Banking
|
|
Total
Consumer
Banking
|
|
Commercial
Banking
|
|
Other(4)
|
|
Total
|
Allowance for loan
and lease losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of
December 31, 2016
|
|
$
|
4,229
|
|
|
$
|
377
|
|
|
$
|
4,606
|
|
|
$
|
957
|
|
|
$
|
65
|
|
|
$
|
80
|
|
|
$
|
1,102
|
|
|
$
|
793
|
|
|
$
|
2
|
|
|
$
|
6,503
|
|
Charge-offs
|
|
(2,938)
|
|
|
(235)
|
|
|
(3,173)
|
|
|
(708)
|
|
|
(7)
|
|
|
(39)
|
|
|
(754)
|
|
|
(166)
|
|
|
—
|
|
|
(4,093)
|
|
Recoveries
|
|
570
|
|
|
76
|
|
|
646
|
|
|
294
|
|
|
3
|
|
|
7
|
|
|
304
|
|
|
7
|
|
|
8
|
|
|
965
|
|
Net
charge-offs
|
|
(2,368)
|
|
|
(159)
|
|
|
(2,527)
|
|
|
(414)
|
|
|
(4)
|
|
|
(32)
|
|
|
(450)
|
|
|
(159)
|
|
|
8
|
|
|
(3,128)
|
|
Provision (benefit)
for loan and lease losses
|
|
2,964
|
|
|
150
|
|
|
3,114
|
|
|
523
|
|
|
(2)
|
|
|
26
|
|
|
547
|
|
|
135
|
|
|
(7)
|
|
|
3,789
|
|
Allowance build
(release) for loan and lease losses
|
|
596
|
|
|
(9)
|
|
|
587
|
|
|
109
|
|
|
(6)
|
|
|
(6)
|
|
|
97
|
|
|
(24)
|
|
|
1
|
|
|
661
|
|
Other
changes(5)
|
|
—
|
|
|
17
|
|
|
17
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(11)
|
|
|
—
|
|
|
6
|
|
Balance as of June
30, 2017
|
|
4,825
|
|
|
385
|
|
|
5,210
|
|
|
1,066
|
|
|
59
|
|
|
74
|
|
|
1,199
|
|
|
758
|
|
|
3
|
|
|
7,170
|
|
Reserve for
unfunded lending commitments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of
December 31, 2016
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
129
|
|
|
—
|
|
|
136
|
|
Provision for losses
on unfunded lending commitments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
3
|
|
Balance as of June
30, 2017
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
132
|
|
|
—
|
|
|
139
|
|
Combined allowance
and reserve as of June 30, 2017
|
|
$
|
4,825
|
|
|
$
|
385
|
|
|
$
|
5,210
|
|
|
$
|
1,066
|
|
|
$
|
59
|
|
|
$
|
81
|
|
|
$
|
1,206
|
|
|
$
|
890
|
|
|
$
|
3
|
|
|
$
|
7,309
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 9: Financial
Summary—Business Segment Results
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, 2017
|
|
Six Months Ended
June 30, 2017
|
(Dollars in
millions)
|
|
Credit
Card
|
|
Consumer
Banking
|
|
Commercial
Banking
|
|
Other
|
|
Total
|
|
Credit
Card
|
|
Consumer
Banking
|
|
Commercial
Banking
|
|
Other
|
|
Total
|
Net interest
income
|
|
$
|
3,294
|
|
|
$
|
1,578
|
|
|
$
|
569
|
|
|
$
|
32
|
|
|
$
|
5,473
|
|
|
$
|
6,640
|
|
|
$
|
3,095
|
|
|
$
|
1,135
|
|
|
$
|
77
|
|
|
$
|
10,947
|
|
Non-interest
income
|
|
875
|
|
|
183
|
|
|
183
|
|
|
(10)
|
|
|
1,231
|
|
|
1,613
|
|
|
378
|
|
|
341
|
|
|
(40)
|
|
|
2,292
|
|
Total net
revenue(6)
|
|
4,169
|
|
|
1,761
|
|
|
752
|
|
|
22
|
|
|
6,704
|
|
|
8,253
|
|
|
3,473
|
|
|
1,476
|
|
|
37
|
|
|
13,239
|
|
Provision (benefit)
for credit losses
|
|
1,397
|
|
|
268
|
|
|
140
|
|
|
(5)
|
|
|
1,800
|
|
|
3,114
|
|
|
547
|
|
|
138
|
|
|
(7)
|
|
|
3,792
|
|
Non-interest
expense
|
|
1,918
|
|
|
1,059
|
|
|
381
|
|
|
56
|
|
|
3,414
|
|
|
3,847
|
|
|
2,101
|
|
|
772
|
|
|
128
|
|
|
6,848
|
|
Income (loss) from
continuing operations before income taxes
|
|
854
|
|
|
434
|
|
|
231
|
|
|
(29)
|
|
|
1,490
|
|
|
1,292
|
|
|
825
|
|
|
566
|
|
|
(84)
|
|
|
2,599
|
|
Income tax provision
(benefit)
|
|
301
|
|
|
158
|
|
|
85
|
|
|
(101)
|
|
|
443
|
|
|
468
|
|
|
301
|
|
|
207
|
|
|
(219)
|
|
|
757
|
|
Income from
continuing operations, net of tax
|
|
$
|
553
|
|
|
$
|
276
|
|
|
$
|
146
|
|
|
$
|
72
|
|
|
$
|
1,047
|
|
|
$
|
824
|
|
|
$
|
524
|
|
|
$
|
359
|
|
|
$
|
135
|
|
|
$
|
1,842
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
(Dollars in
millions)
|
|
Credit
Card
|
|
Consumer
Banking
|
|
Commercial
Banking
|
|
Other
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
3,346
|
|
|
$
|
1,517
|
|
|
$
|
566
|
|
|
$
|
45
|
|
|
$
|
5,474
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
income
|
|
738
|
|
|
195
|
|
|
158
|
|
|
(30)
|
|
|
1,061
|
|
|
|
|
|
|
|
|
|
|
|
Total net
revenue(6)
|
|
4,084
|
|
|
1,712
|
|
|
724
|
|
|
15
|
|
|
6,535
|
|
|
|
|
|
|
|
|
|
|
|
Provision (benefit)
for credit losses
|
|
1,717
|
|
|
279
|
|
|
(2)
|
|
|
(2)
|
|
|
1,992
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
expense
|
|
1,929
|
|
|
1,042
|
|
|
391
|
|
|
72
|
|
|
3,434
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from
continuing operations before income taxes
|
|
438
|
|
|
391
|
|
|
335
|
|
|
(55)
|
|
|
1,109
|
|
|
|
|
|
|
|
|
|
|
|
Income tax provision
(benefit)
|
|
167
|
|
|
143
|
|
|
122
|
|
|
(118)
|
|
|
314
|
|
|
|
|
|
|
|
|
|
|
|
Income from
continuing operations, net of tax
|
|
$
|
271
|
|
|
$
|
248
|
|
|
$
|
213
|
|
|
$
|
63
|
|
|
$
|
795
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, 2016
|
|
Six Months Ended
June 30, 2016
|
(Dollars in
millions)
|
|
Credit
Card
|
|
Consumer
Banking
|
|
Commercial
Banking
|
|
Other
|
|
Total
|
|
Credit
Card
|
|
Consumer
Banking
|
|
Commercial
Banking
|
|
Other
|
|
Total
|
Net interest
income
|
|
$
|
3,045
|
|
|
$
|
1,439
|
|
|
$
|
559
|
|
|
$
|
50
|
|
|
$
|
5,093
|
|
|
$
|
6,078
|
|
|
$
|
2,859
|
|
|
$
|
1,096
|
|
|
$
|
116
|
|
|
$
|
10,149
|
|
Non-interest
income
|
|
859
|
|
|
175
|
|
|
129
|
|
|
(2)
|
|
|
1,161
|
|
|
1,706
|
|
|
366
|
|
|
247
|
|
|
6
|
|
|
2,325
|
|
Total net
revenue(6)
|
|
3,904
|
|
|
1,614
|
|
|
688
|
|
|
48
|
|
|
6,254
|
|
|
7,784
|
|
|
3,225
|
|
|
1,343
|
|
|
122
|
|
|
12,474
|
|
Provision (benefit)
for credit losses
|
|
1,261
|
|
|
204
|
|
|
128
|
|
|
(1)
|
|
|
1,592
|
|
|
2,332
|
|
|
434
|
|
|
356
|
|
|
(3)
|
|
|
3,119
|
|
Non-interest
expense
|
|
1,883
|
|
|
1,006
|
|
|
343
|
|
|
63
|
|
|
3,295
|
|
|
3,746
|
|
|
1,996
|
|
|
665
|
|
|
111
|
|
|
6,518
|
|
Income (loss) from
continuing operations before income taxes
|
|
760
|
|
|
404
|
|
|
217
|
|
|
(14)
|
|
|
1,367
|
|
|
1,706
|
|
|
795
|
|
|
322
|
|
|
14
|
|
|
2,837
|
|
Income tax provision
(benefit)
|
|
276
|
|
|
147
|
|
|
79
|
|
|
(78)
|
|
|
424
|
|
|
613
|
|
|
289
|
|
|
117
|
|
|
(143)
|
|
|
876
|
|
Income from
continuing operations, net of tax
|
|
$
|
484
|
|
|
$
|
257
|
|
|
$
|
138
|
|
|
$
|
64
|
|
|
$
|
943
|
|
|
$
|
1,093
|
|
|
$
|
506
|
|
|
$
|
205
|
|
|
$
|
157
|
|
|
$
|
1,961
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF)
Table 10: Financial & Statistical Summary—Credit Card
Business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
(Dollars in
millions, except as noted)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Credit
Card
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
3,294
|
|
|
$
|
3,346
|
|
|
$
|
3,353
|
|
|
$
|
3,204
|
|
|
$
|
3,045
|
|
|
(2)%
|
|
|
8
|
%
|
|
$
|
6,640
|
|
|
$
|
6,078
|
|
|
9
|
%
|
Non-interest
income
|
|
875
|
|
|
738
|
|
|
849
|
|
|
825
|
|
|
859
|
|
|
19
|
|
|
2
|
|
|
1,613
|
|
|
1,706
|
|
|
(5)
|
|
Total net
revenue
|
|
4,169
|
|
|
4,084
|
|
|
4,202
|
|
|
4,029
|
|
|
3,904
|
|
|
2
|
|
|
7
|
|
|
8,253
|
|
|
7,784
|
|
|
6
|
|
Provision for credit
losses
|
|
1,397
|
|
|
1,717
|
|
|
1,322
|
|
|
1,272
|
|
|
1,261
|
|
|
(19)
|
|
|
11
|
|
|
3,114
|
|
|
2,332
|
|
|
34
|
|
Non-interest
expense
|
|
1,918
|
|
|
1,929
|
|
|
2,073
|
|
|
1,884
|
|
|
1,883
|
|
|
(1)
|
|
|
2
|
|
|
3,847
|
|
|
3,746
|
|
|
3
|
|
Income from
continuing operations before income taxes
|
|
854
|
|
|
438
|
|
|
807
|
|
|
873
|
|
|
760
|
|
|
95
|
|
|
12
|
|
|
1,292
|
|
|
1,706
|
|
|
(24)
|
|
Income tax
provision
|
|
301
|
|
|
167
|
|
|
295
|
|
|
318
|
|
|
276
|
|
|
80
|
|
|
9
|
|
|
468
|
|
|
613
|
|
|
(24)
|
|
Income from
continuing operations, net of tax
|
|
$
|
553
|
|
|
$
|
271
|
|
|
$
|
512
|
|
|
$
|
555
|
|
|
$
|
484
|
|
|
104
|
|
|
14
|
|
|
$
|
824
|
|
|
$
|
1,093
|
|
|
(25)
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-end loans held
for investment
|
|
$
|
101,590
|
|
|
$
|
99,213
|
|
|
$
|
105,552
|
|
|
$
|
99,201
|
|
|
$
|
96,904
|
|
|
2
|
|
|
5
|
|
|
$
|
101,590
|
|
|
$
|
96,904
|
|
|
5
|
|
Average loans held
for investment
|
|
100,043
|
|
|
101,169
|
|
|
100,791
|
|
|
98,016
|
|
|
94,382
|
|
|
(1)
|
|
|
6
|
|
|
100,603
|
|
|
93,684
|
|
|
7
|
|
Average yield on
loans held for investment(7)
|
|
15.14
|
%
|
|
14.99
|
%
|
|
14.93
|
%
|
|
14.68
|
%
|
|
14.49
|
%
|
|
15
|
bps
|
|
65
|
bps
|
|
15.06
|
%
|
|
14.55
|
%
|
|
51
|
bps
|
Total net revenue
margin(8)
|
|
16.67
|
|
|
16.14
|
|
|
16.68
|
|
|
16.44
|
|
|
16.55
|
|
|
53
|
|
|
12
|
|
|
16.41
|
|
|
16.62
|
|
|
(21)
|
|
Net charge-off
rate
|
|
5.02
|
|
|
5.02
|
|
|
4.56
|
|
|
3.70
|
|
|
4.02
|
|
|
—
|
|
|
100
|
|
|
5.02
|
|
|
4.05
|
|
|
97
|
|
30+ day performing
delinquency rate
|
|
3.60
|
|
|
3.68
|
|
|
3.91
|
|
|
3.65
|
|
|
3.15
|
|
|
(8)
|
|
|
45
|
|
|
3.60
|
|
|
3.15
|
|
|
45
|
|
30+ day delinquency
rate
|
|
3.62
|
|
|
3.71
|
|
|
3.94
|
|
|
3.69
|
|
|
3.18
|
|
|
(9)
|
|
|
44
|
|
|
3.62
|
|
|
3.18
|
|
|
44
|
|
Nonperforming loan
rate(2)
|
|
0.03
|
|
|
0.04
|
|
|
0.04
|
|
|
0.04
|
|
|
0.05
|
|
|
(1)
|
|
|
(2)
|
|
|
0.03
|
|
|
0.05
|
|
|
(2)
|
|
PCCR intangible
amortization
|
|
$
|
44
|
|
|
$
|
44
|
|
|
$
|
58
|
|
|
$
|
62
|
|
|
$
|
67
|
|
|
—
|
|
|
(34)%
|
|
|
$
|
88
|
|
|
$
|
137
|
|
|
(36)%
|
|
Purchase
volume(9)
|
|
83,079
|
|
|
73,197
|
|
|
82,824
|
|
|
78,106
|
|
|
78,019
|
|
|
14
|
%
|
|
6
|
|
|
156,276
|
|
|
146,208
|
|
|
7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
(Dollars in
millions, except as noted)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Domestic
Card
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
3,011
|
|
|
$
|
3,093
|
|
|
$
|
3,090
|
|
|
$
|
2,956
|
|
|
$
|
2,769
|
|
|
(3)%
|
|
|
9
|
%
|
|
$
|
6,104
|
|
|
$
|
5,525
|
|
|
10
|
%
|
Non-interest
income
|
|
802
|
|
|
699
|
|
|
791
|
|
|
759
|
|
|
792
|
|
|
15
|
|
|
1
|
|
|
1,501
|
|
|
1,566
|
|
|
(4)
|
|
Total net
revenue
|
|
3,813
|
|
|
3,792
|
|
|
3,881
|
|
|
3,715
|
|
|
3,561
|
|
|
1
|
|
|
7
|
|
|
7,605
|
|
|
7,091
|
|
|
7
|
|
Provision for credit
losses
|
|
1,327
|
|
|
1,637
|
|
|
1,229
|
|
|
1,190
|
|
|
1,164
|
|
|
(19)
|
|
|
14
|
|
|
2,964
|
|
|
2,136
|
|
|
39
|
|
Non-interest
expense
|
|
1,727
|
|
|
1,717
|
|
|
1,859
|
|
|
1,696
|
|
|
1,669
|
|
|
1
|
|
|
3
|
|
|
3,444
|
|
|
3,340
|
|
|
3
|
|
Income from
continuing operations before income taxes
|
|
759
|
|
|
438
|
|
|
793
|
|
|
829
|
|
|
728
|
|
|
73
|
|
|
4
|
|
|
1,197
|
|
|
1,615
|
|
|
(26)
|
|
Income tax
provision
|
|
277
|
|
|
160
|
|
|
288
|
|
|
302
|
|
|
265
|
|
|
73
|
|
|
5
|
|
|
437
|
|
|
588
|
|
|
(26)
|
|
Income from
continuing operations, net of tax
|
|
$
|
482
|
|
|
$
|
278
|
|
|
$
|
505
|
|
|
$
|
527
|
|
|
$
|
463
|
|
|
73
|
|
|
4
|
|
|
$
|
760
|
|
|
$
|
1,027
|
|
|
(26)
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-end loans held
for investment
|
|
$
|
92,866
|
|
|
$
|
91,092
|
|
|
$
|
97,120
|
|
|
$
|
90,955
|
|
|
$
|
88,581
|
|
|
2
|
|
|
5
|
|
|
$
|
92,866
|
|
|
$
|
88,581
|
|
|
5
|
|
Average loans held
for investment
|
|
91,769
|
|
|
93,034
|
|
|
92,623
|
|
|
89,763
|
|
|
85,981
|
|
|
(1)
|
|
|
7
|
|
|
92,398
|
|
|
85,564
|
|
|
8
|
|
Average yield on
loans held for investment(7)
|
|
15.07
|
%
|
|
15.01
|
%
|
|
14.91
|
%
|
|
14.71
|
%
|
|
14.40
|
%
|
|
6
|
bps
|
|
67
|
bps
|
|
15.04
|
%
|
|
14.41
|
%
|
|
63
|
bps
|
Total net revenue
margin(8)
|
|
16.62
|
|
|
16.30
|
|
|
16.76
|
|
|
16.55
|
|
|
16.57
|
|
|
32
|
|
|
5
|
|
|
16.46
|
|
|
16.58
|
|
|
(12)
|
|
Net charge-off
rate
|
|
5.11
|
|
|
5.14
|
|
|
4.66
|
|
|
3.74
|
|
|
4.07
|
|
|
(3)
|
|
|
104
|
|
|
5.12
|
|
|
4.12
|
|
|
100
|
|
30+ day delinquency
rate
|
|
3.63
|
|
|
3.71
|
|
|
3.95
|
|
|
3.68
|
|
|
3.14
|
|
|
(8)
|
|
|
49
|
|
|
3.63
|
|
|
3.14
|
|
|
49
|
|
Purchase
volume(9)
|
|
$
|
75,781
|
|
|
$
|
66,950
|
|
|
$
|
75,639
|
|
|
$
|
71,331
|
|
|
$
|
71,050
|
|
|
13
|
%
|
|
7
|
%
|
|
$
|
142,731
|
|
|
$
|
133,667
|
|
|
7
|
%
|
Refreshed FICO
scores:(10)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greater than
660
|
|
64
|
%
|
|
63
|
%
|
|
64
|
%
|
|
64
|
%
|
|
65
|
%
|
|
1
|
|
|
(1)
|
|
|
64
|
%
|
|
65
|
%
|
|
(1)
|
|
660 or
below
|
|
36
|
|
|
37
|
|
|
36
|
|
|
36
|
|
|
35
|
|
|
(1)
|
|
|
1
|
|
|
36
|
|
|
35
|
|
|
1
|
|
Total
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF)
Table 11: Financial & Statistical Summary—Consumer Banking
Business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
(Dollars in
millions, except as noted)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Consumer
Banking
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
1,578
|
|
|
$
|
1,517
|
|
|
$
|
1,498
|
|
|
$
|
1,472
|
|
|
$
|
1,439
|
|
|
4
|
%
|
|
10
|
%
|
|
$
|
3,095
|
|
|
$
|
2,859
|
|
|
8
|
%
|
Non-interest
income
|
|
183
|
|
|
195
|
|
|
166
|
|
|
201
|
|
|
175
|
|
|
(6)
|
|
|
5
|
|
|
378
|
|
|
366
|
|
|
3
|
|
Total net
revenue
|
|
1,761
|
|
|
1,712
|
|
|
1,664
|
|
|
1,673
|
|
|
1,614
|
|
|
3
|
|
|
9
|
|
|
3,473
|
|
|
3,225
|
|
|
8
|
|
Provision for credit
losses
|
|
268
|
|
|
279
|
|
|
365
|
|
|
256
|
|
|
204
|
|
|
(4)
|
|
|
31
|
|
|
547
|
|
|
434
|
|
|
26
|
|
Non-interest
expense
|
|
1,059
|
|
|
1,042
|
|
|
1,109
|
|
|
1,034
|
|
|
1,006
|
|
|
2
|
|
|
5
|
|
|
2,101
|
|
|
1,996
|
|
|
5
|
|
Income from
continuing operations before income taxes
|
|
434
|
|
|
391
|
|
|
190
|
|
|
383
|
|
|
404
|
|
|
11
|
|
|
7
|
|
|
825
|
|
|
795
|
|
|
4
|
|
Income tax
provision
|
|
158
|
|
|
143
|
|
|
70
|
|
|
139
|
|
|
147
|
|
|
10
|
|
|
7
|
|
|
301
|
|
|
289
|
|
|
4
|
|
Income from
continuing operations, net of tax
|
|
$
|
276
|
|
|
$
|
248
|
|
|
$
|
120
|
|
|
$
|
244
|
|
|
$
|
257
|
|
|
11
|
|
|
7
|
|
|
$
|
524
|
|
|
$
|
506
|
|
|
4
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-end loans held
for investment
|
|
$
|
74,973
|
|
|
$
|
73,982
|
|
|
$
|
73,054
|
|
|
$
|
72,285
|
|
|
$
|
71,415
|
|
|
1
|
|
|
5
|
|
|
$
|
74,973
|
|
|
$
|
71,415
|
|
|
5
|
|
Average loans held
for investment
|
|
74,469
|
|
|
73,331
|
|
|
72,659
|
|
|
71,727
|
|
|
70,988
|
|
|
2
|
|
|
5
|
|
|
73,903
|
|
|
70,642
|
|
|
5
|
|
Average yield on
loans held for investment(7)
|
|
6.56
|
%
|
|
6.48
|
%
|
|
6.50
|
%
|
|
6.41
|
%
|
|
6.28
|
%
|
|
8
|
bps
|
|
28
|
bps
|
|
6.52
|
%
|
|
6.23
|
%
|
|
29
|
bps
|
Auto loan
originations
|
|
$
|
7,453
|
|
|
$
|
7,025
|
|
|
$
|
6,542
|
|
|
$
|
6,804
|
|
|
$
|
6,529
|
|
|
6
|
%
|
|
14
|
%
|
|
$
|
14,478
|
|
|
$
|
12,373
|
|
|
17
|
%
|
Period-end
deposits
|
|
186,607
|
|
|
188,216
|
|
|
181,917
|
|
|
178,793
|
|
|
176,340
|
|
|
(1)
|
|
|
6
|
|
|
186,607
|
|
|
176,340
|
|
|
6
|
|
Average
deposits
|
|
186,989
|
|
|
183,936
|
|
|
180,019
|
|
|
177,402
|
|
|
176,808
|
|
|
2
|
|
|
6
|
|
|
185,471
|
|
|
175,531
|
|
|
6
|
|
Average deposits
interest rate
|
|
0.59
|
%
|
|
0.57
|
%
|
|
0.57
|
%
|
|
0.56
|
%
|
|
0.55
|
%
|
|
2
|
bps
|
|
4
|
bps
|
|
0.58
|
%
|
|
0.54
|
%
|
|
4
|
bps
|
Net charge-off
rate(1)
|
|
1.25
|
|
|
1.19
|
|
|
1.45
|
|
|
1.26
|
|
|
0.83
|
|
|
6
|
|
|
42
|
|
|
1.22
|
|
|
0.93
|
|
|
29
|
|
30+ day performing
delinquency rate
|
|
3.79
|
|
|
3.45
|
|
|
4.10
|
|
|
3.72
|
|
|
3.56
|
|
|
34
|
|
|
23
|
|
|
3.79
|
|
|
3.56
|
|
|
23
|
|
30+ day delinquency
rate
|
|
4.33
|
|
|
3.93
|
|
|
4.67
|
|
|
4.26
|
|
|
4.07
|
|
|
40
|
|
|
26
|
|
|
4.33
|
|
|
4.07
|
|
|
26
|
|
Nonperforming loan
rate(2)
|
|
0.75
|
|
|
0.64
|
|
|
0.72
|
|
|
0.71
|
|
|
0.69
|
|
|
11
|
|
|
6
|
|
|
0.75
|
|
|
0.69
|
|
|
6
|
|
Nonperforming asset
rate(3)
|
|
0.96
|
|
|
0.92
|
|
|
1.09
|
|
|
0.98
|
|
|
0.96
|
|
|
4
|
|
|
—
|
|
|
0.96
|
|
|
0.96
|
|
|
—
|
|
Auto—At
origination FICO scores:(11)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greater than
660
|
|
51
|
%
|
|
51
|
%
|
|
52
|
%
|
|
51
|
%
|
|
51
|
%
|
|
—
|
|
|
—
|
|
|
51
|
%
|
|
51
|
%
|
|
—
|
|
621 - 660
|
|
18
|
|
|
18
|
|
|
17
|
|
|
17
|
|
|
17
|
|
|
—
|
|
|
1
|
%
|
|
18
|
|
|
17
|
|
|
1
|
%
|
620 or
below
|
|
31
|
|
|
31
|
|
|
31
|
|
|
32
|
|
|
32
|
|
|
—
|
|
|
(1)
|
|
|
31
|
|
|
32
|
|
|
(1)
|
|
Total
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
100
|
%
|
|
100
|
%
|
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF)
Table 12: Financial & Statistical Summary—Commercial Banking
Business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
(Dollars in
millions, except as noted)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Commercial
Banking
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
569
|
|
|
$
|
566
|
|
|
$
|
565
|
|
|
$
|
555
|
|
|
$
|
559
|
|
|
1
|
%
|
|
2
|
%
|
|
$
|
1,135
|
|
|
$
|
1,096
|
|
|
4
|
%
|
Non-interest
income
|
|
183
|
|
|
158
|
|
|
175
|
|
|
156
|
|
|
129
|
|
|
16
|
|
|
42
|
|
|
341
|
|
|
247
|
|
|
38
|
|
Total net
revenue(6)
|
|
752
|
|
|
724
|
|
|
740
|
|
|
711
|
|
|
688
|
|
|
4
|
|
|
9
|
|
|
1,476
|
|
|
1,343
|
|
|
10
|
|
Provision (benefit)
for credit losses
|
|
140
|
|
|
(2)
|
|
|
66
|
|
|
61
|
|
|
128
|
|
|
**
|
|
|
9
|
|
|
138
|
|
|
356
|
|
|
(61)
|
|
Non-interest
expense
|
|
381
|
|
|
391
|
|
|
393
|
|
|
349
|
|
|
343
|
|
|
(3)
|
|
|
11
|
|
|
772
|
|
|
665
|
|
|
16
|
|
Income from
continuing operations before income taxes
|
|
231
|
|
|
335
|
|
|
281
|
|
|
301
|
|
|
217
|
|
|
(31)
|
|
|
6
|
|
|
566
|
|
|
322
|
|
|
76
|
|
Income tax
provision
|
|
85
|
|
|
122
|
|
|
102
|
|
|
110
|
|
|
79
|
|
|
(30)
|
|
|
8
|
|
|
207
|
|
|
117
|
|
|
77
|
|
Income from
continuing operations, net of tax
|
|
$
|
146
|
|
|
$
|
213
|
|
|
$
|
179
|
|
|
$
|
191
|
|
|
$
|
138
|
|
|
(31)
|
|
|
6
|
|
|
$
|
359
|
|
|
$
|
205
|
|
|
75
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-end loans held
for investment
|
|
$
|
67,672
|
|
|
$
|
67,320
|
|
|
$
|
66,916
|
|
|
$
|
66,457
|
|
|
$
|
66,202
|
|
|
1
|
|
|
2
|
|
|
$
|
67,672
|
|
|
$
|
66,202
|
|
|
2
|
|
Average loans held
for investment
|
|
67,669
|
|
|
66,938
|
|
|
66,515
|
|
|
66,034
|
|
|
64,938
|
|
|
1
|
|
|
4
|
|
|
67,305
|
|
|
64,156
|
|
|
5
|
|
Average yield on
loans held for investment(6)(7)
|
|
3.81
|
%
|
|
3.65
|
%
|
|
3.55
|
%
|
|
3.50
|
%
|
|
3.45
|
%
|
|
16
|
bps
|
|
36
|
bps
|
|
3.73
|
%
|
|
3.42
|
%
|
|
31
|
bps
|
Period-end
deposits
|
|
$
|
33,153
|
|
|
$
|
33,735
|
|
|
$
|
33,866
|
|
|
$
|
33,611
|
|
|
$
|
34,281
|
|
|
(2)
|
%
|
|
(3)
|
%
|
|
$
|
33,153
|
|
|
$
|
34,281
|
|
|
(3)
|
%
|
Average
deposits
|
|
34,263
|
|
|
34,219
|
|
|
34,029
|
|
|
33,498
|
|
|
33,764
|
|
|
—
|
|
|
1
|
|
|
34,241
|
|
|
33,920
|
|
|
1
|
|
Average deposits
interest rate
|
|
0.36
|
%
|
|
0.31
|
%
|
|
0.30
|
%
|
|
0.30
|
%
|
|
0.27
|
%
|
|
5
|
bps
|
|
9
|
bps
|
|
0.34
|
%
|
|
0.27
|
%
|
|
7
|
bps
|
Net charge-off
rate
|
|
0.80
|
|
|
0.14
|
|
|
0.47
|
|
|
0.66
|
|
|
0.37
|
|
|
66
|
|
|
43
|
|
|
0.47
|
|
|
0.33
|
|
|
14
|
|
Nonperforming loan
rate(2)
|
|
1.01
|
|
|
1.25
|
|
|
1.53
|
|
|
1.50
|
|
|
1.59
|
|
|
(24)
|
|
|
(58)
|
|
|
1.01
|
|
|
1.59
|
|
|
(58)
|
|
Nonperforming asset
rate(3)
|
|
1.04
|
|
|
1.27
|
|
|
1.54
|
|
|
1.51
|
|
|
1.60
|
|
|
(23)
|
|
|
(56)
|
|
|
1.04
|
|
|
1.60
|
|
|
(56)
|
|
Risk
category:(12)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncriticized
|
|
$
|
63,802
|
|
|
$
|
63,390
|
|
|
$
|
62,828
|
|
|
$
|
62,336
|
|
|
$
|
61,926
|
|
|
1
|
%
|
|
3
|
%
|
|
$
|
63,802
|
|
|
$
|
61,926
|
|
|
3
|
%
|
Criticized
performing
|
|
2,660
|
|
|
2,492
|
|
|
2,453
|
|
|
2,473
|
|
|
2,456
|
|
|
7
|
|
|
8
|
|
|
2,660
|
|
|
2,456
|
|
|
8
|
|
Criticized
nonperforming
|
|
686
|
|
|
844
|
|
|
1,022
|
|
|
994
|
|
|
1,050
|
|
|
(19)
|
|
|
(35)
|
|
|
686
|
|
|
1,050
|
|
|
(35)
|
|
PCI loans
|
|
524
|
|
|
594
|
|
|
613
|
|
|
654
|
|
|
770
|
|
|
(12)
|
|
|
(32)
|
|
|
524
|
|
|
770
|
|
|
(32)
|
|
Total commercial
loans
|
|
$
|
67,672
|
|
|
$
|
67,320
|
|
|
$
|
66,916
|
|
|
$
|
66,457
|
|
|
$
|
66,202
|
|
|
1
|
|
|
2
|
|
|
$
|
67,672
|
|
|
$
|
66,202
|
|
|
2
|
|
Risk category as a
percentage of period-end loans held for
investment:(12)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncriticized
|
|
94.3
|
%
|
|
94.2
|
%
|
|
93.9
|
%
|
|
93.8
|
%
|
|
93.5
|
%
|
|
10
|
bps
|
|
80
|
bps
|
|
94.3
|
%
|
|
93.5
|
%
|
|
80
|
bps
|
Criticized
performing
|
|
3.9
|
|
|
3.7
|
|
|
3.7
|
|
|
3.7
|
|
|
3.7
|
|
|
20
|
|
|
20
|
|
|
3.9
|
|
|
3.7
|
|
|
20
|
|
Criticized
nonperforming
|
|
1.0
|
|
|
1.2
|
|
|
1.5
|
|
|
1.5
|
|
|
1.6
|
|
|
(20)
|
|
|
(60)
|
|
|
1.0
|
|
|
1.6
|
|
|
(60)
|
|
PCI loans
|
|
0.8
|
|
|
0.9
|
|
|
0.9
|
|
|
1.0
|
|
|
1.2
|
|
|
(10)
|
|
|
(40)
|
|
|
0.8
|
|
|
1.2
|
|
|
(40)
|
|
Total commercial
loans
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF) Table 13: Financial &
Statistical Summary—Other and Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 Q2
vs.
|
|
Six Months Ended
June 30,
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
2017
vs.
|
(Dollars in
millions)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q2
|
|
2017
|
|
2016
|
|
2016
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
32
|
|
|
$
|
45
|
|
|
$
|
31
|
|
|
$
|
46
|
|
|
$
|
50
|
|
|
(29)%
|
|
|
(36)%
|
|
|
$
|
77
|
|
|
$
|
116
|
|
|
(34)%
|
|
Non-interest
income
|
|
(10)
|
|
|
(30)
|
|
|
(71)
|
|
|
2
|
|
|
(2)
|
|
|
(67)
|
|
|
**
|
|
|
(40)
|
|
|
6
|
|
|
**
|
|
Total net revenue
(loss)(6)
|
|
22
|
|
|
15
|
|
|
(40)
|
|
|
48
|
|
|
48
|
|
|
47
|
|
|
(54)
|
|
|
37
|
|
|
122
|
|
|
(70)
|
|
Benefit for credit
losses
|
|
(5)
|
|
|
(2)
|
|
|
(1)
|
|
|
(1)
|
|
|
(1)
|
|
|
150
|
|
|
**
|
|
|
(7)
|
|
|
(3)
|
|
|
133
|
|
Non-interest
expense
|
|
56
|
|
|
72
|
|
|
104
|
|
|
94
|
|
|
63
|
|
|
(22)
|
|
|
(11)
|
|
|
128
|
|
|
111
|
|
|
15
|
|
Income (loss) from
continuing operations before income taxes
|
|
(29)
|
|
|
(55)
|
|
|
(143)
|
|
|
(45)
|
|
|
(14)
|
|
|
(47)
|
|
|
107
|
|
|
(84)
|
|
|
14
|
|
|
**
|
|
Income tax
benefit
|
|
(101)
|
|
|
(118)
|
|
|
(125)
|
|
|
(71)
|
|
|
(78)
|
|
|
(14)
|
|
|
29
|
|
|
(219)
|
|
|
(143)
|
|
|
53
|
|
Income (loss) from
continuing operations, net of tax
|
|
$
|
72
|
|
|
$
|
63
|
|
|
$
|
(18)
|
|
|
$
|
26
|
|
|
$
|
64
|
|
|
14
|
|
|
13
|
|
|
$
|
135
|
|
|
$
|
157
|
|
|
(14)
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-end loans held
for investment
|
|
$
|
67
|
|
|
$
|
73
|
|
|
$
|
64
|
|
|
$
|
76
|
|
|
$
|
82
|
|
|
(8)
|
|
|
(18)
|
|
|
$
|
67
|
|
|
$
|
82
|
|
|
(18)
|
|
Average loans held
for investment
|
|
60
|
|
|
67
|
|
|
62
|
|
|
66
|
|
|
71
|
|
|
(10)
|
|
|
(15)
|
|
|
64
|
|
|
75
|
|
|
(15)
|
|
Period-end
deposits
|
|
20,003
|
|
|
19,231
|
|
|
20,985
|
|
|
13,577
|
|
|
10,438
|
|
|
4
|
|
|
92
|
|
|
20,003
|
|
|
10,438
|
|
|
92
|
|
Average
deposits
|
|
19,298
|
|
|
20,395
|
|
|
18,156
|
|
|
11,351
|
|
|
10,574
|
|
|
(5)
|
|
|
83
|
|
|
19,843
|
|
|
10,712
|
|
|
85
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
5,473
|
|
|
$
|
5,474
|
|
|
$
|
5,447
|
|
|
$
|
5,277
|
|
|
$
|
5,093
|
|
|
—
|
|
|
7
|
%
|
|
$
|
10,947
|
|
|
$
|
10,149
|
|
|
8
|
%
|
Non-interest
income
|
|
1,231
|
|
|
1,061
|
|
|
1,119
|
|
|
1,184
|
|
|
1,161
|
|
|
16
|
%
|
|
6
|
|
|
2,292
|
|
|
2,325
|
|
|
(1)
|
|
Total net
revenue
|
|
6,704
|
|
|
6,535
|
|
|
6,566
|
|
|
6,461
|
|
|
6,254
|
|
|
3
|
|
|
7
|
|
|
13,239
|
|
|
12,474
|
|
|
6
|
|
Provision for credit
losses
|
|
1,800
|
|
|
1,992
|
|
|
1,752
|
|
|
1,588
|
|
|
1,592
|
|
|
(10)
|
|
|
13
|
|
|
3,792
|
|
|
3,119
|
|
|
22
|
|
Non-interest
expense
|
|
3,414
|
|
|
3,434
|
|
|
3,679
|
|
|
3,361
|
|
|
3,295
|
|
|
(1)
|
|
|
4
|
|
|
6,848
|
|
|
6,518
|
|
|
5
|
|
Income from
continuing operations before income taxes
|
|
1,490
|
|
|
1,109
|
|
|
1,135
|
|
|
1,512
|
|
|
1,367
|
|
|
34
|
|
|
9
|
|
|
2,599
|
|
|
2,837
|
|
|
(8)
|
|
Income tax
provision
|
|
443
|
|
|
314
|
|
|
342
|
|
|
496
|
|
|
424
|
|
|
41
|
|
|
4
|
|
|
757
|
|
|
876
|
|
|
(14)
|
|
Income from
continuing operations, net of tax
|
|
$
|
1,047
|
|
|
$
|
795
|
|
|
$
|
793
|
|
|
$
|
1,016
|
|
|
$
|
943
|
|
|
32
|
|
|
11
|
|
|
$
|
1,842
|
|
|
$
|
1,961
|
|
|
(6)
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-end loans held
for investment
|
|
$
|
244,302
|
|
|
$
|
240,588
|
|
|
$
|
245,586
|
|
|
$
|
238,019
|
|
|
$
|
234,603
|
|
|
2
|
|
|
4
|
|
|
$
|
244,302
|
|
|
$
|
234,603
|
|
|
4
|
|
Average loans held
for investment
|
|
242,241
|
|
|
241,505
|
|
|
240,027
|
|
|
235,843
|
|
|
230,379
|
|
|
—
|
|
|
5
|
|
|
241,875
|
|
|
228,557
|
|
|
6
|
|
Period-end
deposits
|
|
239,763
|
|
|
241,182
|
|
|
236,768
|
|
|
225,981
|
|
|
221,059
|
|
|
(1)
|
|
|
8
|
|
|
239,763
|
|
|
221,059
|
|
|
8
|
|
Average
deposits
|
|
240,550
|
|
|
238,550
|
|
|
232,204
|
|
|
222,251
|
|
|
221,146
|
|
|
1
|
|
|
9
|
|
|
239,555
|
|
|
220,163
|
|
|
9
|
|
CAPITAL ONE
FINANCIAL CORPORATION (COF)
|
Table 14: Notes to
Loan, Allowance and Business Segment Disclosures (Tables
7—13)
|
|
|
(1)
|
In Q2 2017, we
implemented changes in our charge-off practices for certain
consumer banking loans. The Q2 2017 Auto net charge-offs
amount includes approximately $48 million associated with
implementing these changes, with an impact to the net charge-off
rate of 38 basis points and 19 basis points for the three and
six months ended June 30, 2017, respectively. Excluding this
impact, the Auto net charge-off rate in those periods would have
been 1.32% and 1.48%, respectively. The impact to the Consumer
Banking net charge-off rate was 26 basis points and 13 basis points
for the three and six months ended June 30, 2017, respectively.
Excluding this impact, the Consumer Banking net charge-off rate in
those periods would have been 0.99% and 1.09%,
respectively.
|
(2)
|
Nonperforming loan
rates are calculated based on nonperforming loans for each category
divided by period-end total loans held for investment for each
respective category.
|
(3)
|
Nonperforming assets
consist of nonperforming loans, real estate owned ("REO") and other
foreclosed assets. The total nonperforming asset rate is calculated
based on total nonperforming assets divided by the combined
period-end total loans held for investment, REO and other
foreclosed assets. Prior to Q4 2016, the nonperforming asset rate
for our Consumer Banking business excluded the impact of REOs
related to our acquired home loan portfolio which, if included,
would increase the nonperforming asset rate by approximately 10
basis points in each of the prior periods presented.
|
(4)
|
Primarily consists of
the legacy loan portfolio of our discontinued GreenPoint mortgage
operations.
|
(5)
|
Represents foreign
currency translation adjustments and the net impact of loan
transfers and sales.
|
(6)
|
Some of our
tax-related commercial investments generate tax-exempt income or
tax credits. Accordingly, we make certain reclassifications within
our Commercial Banking business results to present revenues and
yields on a taxable-equivalent basis, calculated assuming an
effective tax rate approximately equal to our federal statutory tax
rate of 35% with offsetting reclassifications to the Other
category.
|
(7)
|
Average yield on
loans held for investment is calculated based on annualized
interest income for the period divided by average loans held for
investment during the period for the respective loan category.
Annualized interest income is computed based on the effective yield
of the respective loan category and does not include any
allocations, such as funds transfer pricing.
|
(8)
|
Total net revenue
margin is calculated based on annualized total net revenue for the
period divided by average loans held for investment during the
period for the respective loan category.
|
(9)
|
Includes purchase
transactions, net of returns, for the period for loans both
classified as held for investment and held for sale. Excludes cash
advance and balance transfer transactions.
|
(10)
|
Percentages represent
period-end loans held for investment in each credit score category.
Domestic card credit scores generally represent FICO scores. These
scores are obtained from one of the major credit bureaus at
origination and are refreshed monthly thereafter. We approximate
non-FICO credit scores to comparable FICO scores for consistency
purposes. Balances for which no credit score is available or the
credit score is invalid are included in the 660 or below
category.
|
(11)
|
Percentages represent
period-end loans held for investment in each credit score category.
Auto credit scores generally represent average FICO scores obtained
from three credit bureaus at the time of application and are not
refreshed thereafter. Balances for which no credit score is
available or the credit score is invalid are included in the 620 or
below category.
|
(12)
|
Criticized exposures
correspond to the "Special Mention," "Substandard" and "Doubtful"
asset categories defined by bank regulatory authorities.
|
**
|
Not
meaningful.
|
CAPITAL ONE
FINANCIAL CORPORATION (COF)
|
|
Table 15:
Calculation of Regulatory Capital Measures and Reconciliation of
Non-GAAP Measures(1)
|
|
|
Basel III
Standardized Approach
|
(Dollars in
millions, except as noted)
|
|
June 30,
2017
|
|
March 31,
2017
|
|
December 31,
2016
|
|
September 30,
2016
|
|
June 30,
2016
|
Regulatory Capital
Metrics
|
|
|
|
|
|
|
|
|
|
|
Common equity
excluding AOCI
|
|
$
|
45,459
|
|
|
$
|
44,614
|
|
|
$
|
44,103
|
|
|
$
|
44,214
|
|
|
$
|
44,572
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
AOCI(2)(3)
|
|
(593)
|
|
|
(807)
|
|
|
(674)
|
|
|
199
|
|
|
332
|
|
Goodwill, net of
related deferred tax liabilities
|
|
(14,299)
|
|
|
(14,302)
|
|
|
(14,307)
|
|
|
(14,288)
|
|
|
(14,296)
|
|
Intangible assets,
net of related deferred tax liabilities(3)
|
|
(418)
|
|
|
(465)
|
|
|
(384)
|
|
|
(435)
|
|
|
(483)
|
|
Other
|
|
77
|
|
|
121
|
|
|
65
|
|
|
(498)
|
|
|
(639)
|
|
Common equity Tier 1
capital
|
|
$
|
30,226
|
|
|
$
|
29,161
|
|
|
$
|
28,803
|
|
|
$
|
29,192
|
|
|
$
|
29,486
|
|
Tier 1
capital
|
|
$
|
34,585
|
|
|
$
|
33,519
|
|
|
$
|
33,162
|
|
|
$
|
33,069
|
|
|
$
|
32,780
|
|
Total
capital(4)
|
|
42,101
|
|
|
40,979
|
|
|
40,817
|
|
|
40,564
|
|
|
38,767
|
|
Risk-weighted
assets
|
|
283,231
|
|
|
279,302
|
|
|
285,756
|
|
|
275,198
|
|
|
269,667
|
|
Adjusted average
assets(5)
|
|
335,248
|
|
|
336,990
|
|
|
335,835
|
|
|
328,627
|
|
|
319,968
|
|
Capital
Ratios
|
|
|
|
|
|
|
|
|
|
|
Common equity Tier 1
capital(6)
|
|
10.7
|
%
|
|
10.4
|
%
|
|
10.1
|
%
|
|
10.6
|
%
|
|
10.9
|
%
|
Tier 1
capital(7)
|
|
12.2
|
|
|
12.0
|
|
|
11.6
|
|
|
12.0
|
|
|
12.2
|
|
Total
capital(8)
|
|
14.9
|
|
|
14.7
|
|
|
14.3
|
|
|
14.7
|
|
|
14.4
|
|
Tier 1
leverage(5)
|
|
10.3
|
|
|
9.9
|
|
|
9.9
|
|
|
10.1
|
|
|
10.2
|
|
Tangible common
equity ("TCE")(9)
|
|
8.8
|
|
|
8.5
|
|
|
8.1
|
|
|
8.8
|
|
|
9.0
|
|
Reconciliation of Non-GAAP Measures
We report certain non-GAAP measures that management uses in
assessing its capital adequacy and the level of return generated.
The following non-GAAP measures consist of selected adjusted
results, tangible common equity ("TCE"), tangible assets and
metrics computed using these amounts, which include tangible book
value per common share, return on average tangible assets, return
on average TCE and TCE ratio. We consider these metrics key
financial performance measures. While our non-GAAP measures are
widely used by investors, analysts and bank regulatory agencies to
assess the capital position of financial services companies, they
may not be comparable to similarly-titled measures reported by
other companies. The following tables present reconciliations of
these non-GAAP measures to the applicable amounts measured in
accordance with GAAP.
|
|
2017
|
|
2017
|
|
Six Months
Ended
|
|
|
Q2
|
|
Q1
|
|
June 30,
2017
|
(Dollars in
millions, except per share data and as noted)
|
|
Reported
Results
|
|
Adj.(10)
|
|
Adjusted
Results
|
|
Reported
Results
|
|
Adj.(10)
|
|
Adjusted
Results
|
|
Reported
Results
|
|
Adj.(10)
|
|
Adjusted
Results
|
Selected income
statement data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
5,473
|
|
|
—
|
|
|
$
|
5,473
|
|
|
$
|
5,474
|
|
|
$
|
33
|
|
|
$
|
5,507
|
|
|
$
|
10,947
|
|
|
$
|
33
|
|
|
$
|
10,980
|
|
Non-interest
income
|
|
1,231
|
|
|
—
|
|
|
1,231
|
|
|
1,061
|
|
|
37
|
|
|
1,098
|
|
|
2,292
|
|
|
37
|
|
|
2,329
|
|
Total net
revenue
|
|
6,704
|
|
|
—
|
|
|
6,704
|
|
|
6,535
|
|
|
70
|
|
|
6,605
|
|
|
13,239
|
|
|
70
|
|
|
13,309
|
|
Provision for credit
losses
|
|
1,800
|
|
|
—
|
|
|
1,800
|
|
|
1,992
|
|
|
—
|
|
|
1,992
|
|
|
3,792
|
|
|
—
|
|
|
3,792
|
|
Non-interest
expense
|
|
3,414
|
|
|
$
|
(12)
|
|
|
3,402
|
|
|
3,434
|
|
|
(29)
|
|
|
3,405
|
|
|
6,848
|
|
|
(41)
|
|
|
6,807
|
|
Income from
continuing operations before income taxes
|
|
1,490
|
|
|
12
|
|
|
1,502
|
|
|
1,109
|
|
|
99
|
|
|
1,208
|
|
|
2,599
|
|
|
111
|
|
|
2,710
|
|
Income tax provision
(benefit)
|
|
443
|
|
|
4
|
|
|
447
|
|
|
314
|
|
|
(1)
|
|
|
313
|
|
|
757
|
|
|
3
|
|
|
760
|
|
Income from
continuing operations, net of tax
|
|
1,047
|
|
|
8
|
|
|
1,055
|
|
|
795
|
|
|
100
|
|
|
895
|
|
|
1,842
|
|
|
108
|
|
|
1,950
|
|
Income (loss) from
discontinued operations, net of tax
|
|
(11)
|
|
|
—
|
|
|
(11)
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|
4
|
|
|
—
|
|
|
4
|
|
Net income
|
|
1,036
|
|
|
8
|
|
|
1,044
|
|
|
810
|
|
|
100
|
|
|
910
|
|
|
1,846
|
|
|
108
|
|
|
1,954
|
|
Net income available
to common stockholders
|
|
948
|
|
|
8
|
|
|
956
|
|
|
752
|
|
|
100
|
|
|
852
|
|
|
1,700
|
|
|
108
|
|
|
1,808
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
EPS(12)
|
|
$
|
1.94
|
|
|
$0.02
|
|
|
$
|
1.96
|
|
|
$
|
1.54
|
|
|
$0.21
|
|
|
$
|
1.75
|
|
|
$
|
3.49
|
|
|
$0.22
|
|
|
$
|
3.71
|
|
Efficiency
ratio
|
|
50.92
|
%
|
|
(17)
|
bps
|
|
50.75
|
%
|
|
52.55
|
%
|
|
(100)
|
bps
|
|
51.55
|
%
|
|
51.73
|
%
|
|
(58)
|
bps
|
|
51.15
|
%
|
|
|
2016
|
|
2016
|
|
2016
|
|
Year
Ended
|
|
|
Q4
|
|
Q3
|
|
Q2
|
|
December 31,
2016
|
(Dollars in
millions, except per share data and as noted)
|
|
Reported
Results
|
|
Adj.(11)
|
|
Adjusted
Results
|
|
Reported
Results
|
|
Adj.(11)
|
|
Adjusted
Results
|
|
Reported
Results
|
|
Adj.(11)
|
|
Adjusted
Results
|
|
Reported
Results
|
|
Adj.(11)
|
|
Adjusted
Results
|
Selected income
statement data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
5,447
|
|
|
$
|
13
|
|
|
$
|
5,460
|
|
|
$
|
5,277
|
|
|
$
|
34
|
|
|
$
|
5,311
|
|
|
$
|
5,093
|
|
|
$
|
7
|
|
|
$
|
5,100
|
|
|
$
|
20,873
|
|
|
$
|
54
|
|
|
$
|
20,927
|
|
Non-interest
income
|
|
1,119
|
|
|
14
|
|
|
1,133
|
|
|
1,184
|
|
|
13
|
|
|
1,197
|
|
|
1,161
|
|
|
8
|
|
|
1,169
|
|
|
4,628
|
|
|
35
|
|
|
4,663
|
|
Total net
revenue
|
|
6,566
|
|
|
27
|
|
|
6,593
|
|
|
6,461
|
|
|
47
|
|
|
6,508
|
|
|
6,254
|
|
|
15
|
|
|
6,269
|
|
|
25,501
|
|
|
89
|
|
|
25,590
|
|
Provision for credit
losses
|
|
1,752
|
|
|
—
|
|
|
1,752
|
|
|
1,588
|
|
|
—
|
|
|
1,588
|
|
|
1,592
|
|
|
—
|
|
|
1,592
|
|
|
6,459
|
|
|
—
|
|
|
6,459
|
|
Non-interest
expense
|
|
3,679
|
|
|
(45)
|
|
|
3,634
|
|
|
3,361
|
|
|
(16)
|
|
|
3,345
|
|
|
3,295
|
|
|
(15)
|
|
|
3,280
|
|
|
13,558
|
|
|
(76)
|
|
|
13,482
|
|
Income from
continuing operations before income taxes
|
|
1,135
|
|
|
72
|
|
|
1,207
|
|
|
1,512
|
|
|
63
|
|
|
1,575
|
|
|
1,367
|
|
|
30
|
|
|
1,397
|
|
|
5,484
|
|
|
165
|
|
|
5,649
|
|
Income tax provision
(benefit)
|
|
342
|
|
|
10
|
|
|
352
|
|
|
496
|
|
|
—
|
|
|
496
|
|
|
424
|
|
|
(7)
|
|
|
417
|
|
|
1,714
|
|
|
3
|
|
|
1,717
|
|
Income from
continuing operations, net of tax
|
|
793
|
|
|
62
|
|
|
855
|
|
|
1,016
|
|
|
63
|
|
|
1,079
|
|
|
943
|
|
|
37
|
|
|
980
|
|
|
3,770
|
|
|
162
|
|
|
3,932
|
|
Income (loss) from
discontinued operations, net of tax
|
|
(2)
|
|
|
—
|
|
|
(2)
|
|
|
(11)
|
|
|
—
|
|
|
(11)
|
|
|
(1)
|
|
|
—
|
|
|
(1)
|
|
|
(19)
|
|
|
—
|
|
|
(19)
|
|
Net income
|
|
791
|
|
|
62
|
|
|
853
|
|
|
1,005
|
|
|
63
|
|
|
1,068
|
|
|
942
|
|
|
37
|
|
|
979
|
|
|
3,751
|
|
|
162
|
|
|
3,913
|
|
Net income available
to common stockholders
|
|
710
|
|
|
62
|
|
|
772
|
|
|
962
|
|
|
63
|
|
|
1,025
|
|
|
871
|
|
|
37
|
|
|
908
|
|
|
3,513
|
|
|
162
|
|
|
3,675
|
|
Selected
performance metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
EPS(12)
|
|
$
|
1.45
|
|
|
$0.13
|
|
|
$
|
1.58
|
|
|
$
|
1.90
|
|
|
$0.13
|
|
|
$
|
2.03
|
|
|
$
|
1.69
|
|
|
$0.07
|
|
|
$
|
1.76
|
|
|
$
|
6.89
|
|
|
$0.32
|
|
|
$
|
7.21
|
|
Efficiency
ratio
|
|
56.03
|
%
|
|
(91)
|
bps
|
|
55.12
|
%
|
|
52.02
|
%
|
|
(62)
|
bps
|
|
51.40
|
%
|
|
52.69
|
%
|
|
(37)
|
bps
|
|
52.32
|
%
|
|
53.17
|
%
|
|
(49)
|
bps
|
|
52.68
|
%
|
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
(Dollars in
millions)
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
Tangible Common
Equity (Period-End)
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
$
|
49,137
|
|
|
$
|
48,040
|
|
|
$
|
47,514
|
|
|
$
|
48,213
|
|
|
$
|
48,108
|
|
Goodwill and
intangible assets(13)
|
|
(15,301)
|
|
|
(15,360)
|
|
|
(15,420)
|
|
|
(15,475)
|
|
|
(15,553)
|
|
Noncumulative
perpetual preferred stock
|
|
(4,360)
|
|
|
(4,360)
|
|
|
(4,360)
|
|
|
(3,877)
|
|
|
(3,294)
|
|
Tangible common
equity
|
|
$
|
29,476
|
|
|
$
|
28,320
|
|
|
$
|
27,734
|
|
|
$
|
28,861
|
|
|
$
|
29,261
|
|
Tangible Common
Equity (Average)
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
$
|
49,005
|
|
|
$
|
48,193
|
|
|
$
|
47,972
|
|
|
$
|
49,033
|
|
|
$
|
48,934
|
|
Goodwill and
intangible assets(13)
|
|
(15,336)
|
|
|
(15,395)
|
|
|
(15,455)
|
|
|
(15,507)
|
|
|
(15,585)
|
|
Noncumulative
perpetual preferred stock
|
|
(4,360)
|
|
|
(4,360)
|
|
|
(4,051)
|
|
|
(3,719)
|
|
|
(3,294)
|
|
Tangible common
equity
|
|
$
|
29,309
|
|
|
$
|
28,438
|
|
|
$
|
28,466
|
|
|
$
|
29,807
|
|
|
$
|
30,055
|
|
Tangible Assets
(Period-End)
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
$
|
350,593
|
|
|
$
|
348,549
|
|
|
$
|
357,033
|
|
|
$
|
345,061
|
|
|
$
|
339,117
|
|
Goodwill and
intangible assets(13)
|
|
(15,301)
|
|
|
(15,360)
|
|
|
(15,420)
|
|
|
(15,475)
|
|
|
(15,553)
|
|
Tangible
assets
|
|
$
|
335,292
|
|
|
$
|
333,189
|
|
|
$
|
341,613
|
|
|
$
|
329,586
|
|
|
$
|
323,564
|
|
Tangible Assets
(Average)
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
$
|
349,891
|
|
|
$
|
351,641
|
|
|
$
|
350,225
|
|
|
$
|
343,153
|
|
|
$
|
334,479
|
|
Goodwill and
intangible assets(13)
|
|
(15,336)
|
|
|
(15,395)
|
|
|
(15,455)
|
|
|
(15,507)
|
|
|
(15,585)
|
|
Tangible
assets
|
|
$
|
334,555
|
|
|
$
|
336,246
|
|
|
$
|
334,770
|
|
|
$
|
327,646
|
|
|
$
|
318,894
|
|
__________
|
(1)
|
Regulatory capital
metrics and capital ratios as of June 30, 2017 are preliminary and
therefore subject to change.
|
(2)
|
Amounts presented are
net of tax.
|
(3)
|
Amounts based on
transition provisions for regulatory capital deductions and
adjustments of 60% for 2016 and 80% for 2017.
|
(4)
|
Total capital equals
the sum of Tier 1 capital and Tier 2 capital.
|
(5)
|
Adjusted average
assets for the purpose of calculating our Tier 1 leverage ratio
represents total average assets adjusted for amounts that deducted
from Tier 1 capital, predominately goodwill and intangible assets.
Tier 1 leverage ratio is a regulatory capital measure calculated
based on Tier 1 capital divided by adjusted average
assets.
|
(6)
|
Common equity Tier 1
capital ratio is a regulatory capital measure calculated based on
common equity Tier 1 capital divided by risk-weighted
assets.
|
(7)
|
Tier 1 capital ratio
is a regulatory capital measure calculated based on Tier 1 capital
divided by risk-weighted assets.
|
(8)
|
Total capital ratio
is a regulatory capital measure calculated based on total capital
divided by risk-weighted assets.
|
(9)
|
TCE ratio is a
non-GAAP measure calculated based on TCE divided by tangible
assets.
|
(10)
|
In Q2 2017, we
incurred $12 million of costs related to our anticipated close of
the Cabela's acquisition, which is subject to regulatory approval.
In Q1 2017, we recorded a build in the U.K. Payment Protection
Insurance customer refund reserve ("U.K. PPI Reserve") of $99
million.
|
(11)
|
In Q4 2016, we
recorded charges totaling $72 million consisting of a build in the
U.K. PPI Reserve of $44 million and an impairment associated with
certain acquired intangible and software assets of $28 million. In
Q3 2016, we recorded a build in the U.K. PPI Reserve of $63
million. In Q2 2016, we recorded charges totaling $30 million
associated with a build of $54 million in the U.K. PPI Reserve,
partially offset by a gain of $24 million related to the exchange
of our ownership interest in Visa Europe with Visa Inc. as a result
of Visa Inc.'s acquisition of Visa Europe. There were no
adjustments to our reported results in Q1 2016.
|
(12)
|
Earnings per share is
computed independently for each period. Accordingly, the sum of
each quarter amount may not agree to the year-to-date
total.
|
(13)
|
Includes impact of
related deferred taxes.
|
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SOURCE Capital One Financial Corporation