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Capital One Financial: 2016 Net Income Of

The following excerpt is from the company's SEC filing.

$1.0 billion

per share

McLean, Va. (

April 26, 2016

– Capital One Financial Corporation (NYSE: COF) today announced net income for the

first quarter

of 2016 of

, or $

per diluted common share, compared to the

fourth quarter

of 2015 with net income of

$920 million

per diluted common share, and the

$1.2 billion

per diluted common share.

“First quarter 2016 was another quarter of strong growth in our Domestic Card business, both in loan balances and purchase volumes, which drove strong growth in revenue, ” said Richard D. Fairbank, Chair and Chief Executive Officer. “We continue to be in a strong position to deliver attractive shareholder returns, driven by growth and sustainable returns at the higher end of banks, as well as significant capital distribution, subject to regulatory approval.”

All comparisons below are for the first quarter of 2016 compared with the fourth quarter of 2015 unless otherwise noted.

First Quarter

2016 Income Statement Summary:

Total net revenue remained flat at

$6.2 billion

Total non-interest expense decreased

percent to

$3.2 billion

percent decrease in marketing.

percent decrease in operating expenses.

Pre-provision earnings increased

$3.0 billion

Provision for credit losses increased

$1.5 billion

Net charge-offs of

$286 million

allowance build.

Net interest margin of

percent, down

basis points.

Efficiency ratio of


Capital One First Quarter 2016 Earnings

Page 2

2016 Balance Sheet Summary:

Common equity Tier 1 capital ratio under Basel III Standardized Approach of

percent at

March 31, 2016

Period-end loans held for investment in the quarter

$2.2 billion

percent, to

$227.6 billion

Domestic Card period-end loans

$3.4 billion

$84.6 billion

Consumer Banking period-end loans

$219 million

less than 1

$70.6 billion

Auto period-end loans

$42.7 billion

Home loans period-end loans

$884 million

$24.3 billion

, driven by run-off of acquired portfolios.

Commercial Banking period-end loans

$975 million

$64.2 billion

Average loans held for investment in the quarter

$6.7 billion

$226.7 billion

Domestic Card average loans

$1.4 billion

$85.1 billion

Consumer Banking average loans

$408 million

$70.3 billion

Auto average loans

$629 million

$42.0 billion

Home loans average loans

$995 million

$24.8 billion

, driven by planned run-off of acquired portfolios.

Commercial Banking average loans

$6.0 billion

$63.4 billion

, including the acquired HFS loans.

Period-end total deposits

$4.1 billion

$221.8 billion

, while average deposits

$3.3 billion

$219.2 billion

Interest-bearing deposits rate paid remained flat at

Page 3

Earnings Conference Call Webcast Information

The company will hold an earnings conference call on

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 ( 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 May 10, 2016 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, 2015.

About Capital One

Capital One Financial Corporation ( is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had

in deposits and

$330.3 billion

in total assets as of

. 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, New Jersey, Texas, Louisiana, Maryland, Virginia 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.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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