Capital One Reports Fourth Quarter 2024 Net Income of $1.1 Billion, or $2.67 Per Share
Capital One (NYSE: COF) reported Q4 2024 net income of $1.1 billion, or $2.67 per diluted share, down from $1.8 billion ($4.41/share) in Q3 2024 but up from $706 million ($1.67/share) in Q4 2023. Adjusted net income was $3.09 per share.
Total net revenue increased 2% to $10.2 billion, while non-interest expenses rose 15% to $6.1 billion. The quarter included $140 million in Discover integration expenses and $75 million in legal reserve activity. Credit metrics showed net charge-offs of $2.9 billion, offset by a $245 million loan reserve release.
Period-end loans increased 2% to $327.8 billion, with Credit Card loans up 4% to $162.5 billion. Total deposits grew 3% to $362.7 billion. The company maintains a strong capital position with a CET1 ratio of 13.5%. The Discover acquisition shareholder votes are scheduled for February 18th, with completion expected in early 2025, subject to approvals.
Capital One (NYSE: COF) ha riportato un utile netto per il quarto trimestre del 2024 di 1,1 miliardi di dollari, ovvero 2,67 dollari per azione diluita, in calo rispetto a 1,8 miliardi di dollari (4,41 dollari/azione) nel terzo trimestre del 2024, ma in aumento rispetto ai 706 milioni di dollari (1,67 dollari/azione) nel quarto trimestre del 2023. L'utile netto rettificato è stato di 3,09 dollari per azione.
Il fatturato totale netto è aumentato del 2% a 10,2 miliardi di dollari, mentre le spese non legate agli interessi sono aumentate del 15% a 6,1 miliardi di dollari. Il trimestre ha incluso 140 milioni di dollari in spese per l'integrazione di Discover e 75 milioni di dollari in attività di riserva legale. Le metriche di credito hanno mostrato cancellazioni nette di 2,9 miliardi di dollari, compensate da un rilascio di riserve su prestiti di 245 milioni di dollari.
I prestiti a fine periodo sono aumentati del 2% a 327,8 miliardi di dollari, con i prestiti con carta di credito in aumento del 4% a 162,5 miliardi di dollari. I depositi totali sono cresciuti del 3% a 362,7 miliardi di dollari. L'azienda mantiene una solida posizione patrimoniale con un rapporto CET1 del 13,5%. Le votazioni degli azionisti per l'acquisizione di Discover sono programmate per il 18 febbraio, con completamento previsto all'inizio del 2025, soggetto ad approvazioni.
Capital One (NYSE: COF) reportó una ganancia neta de 1.1 mil millones de dólares para el cuarto trimestre de 2024, es decir, 2.67 dólares por acción diluida, una caída desde 1.8 mil millones de dólares (4.41 dólares/acción) en el tercer trimestre de 2024, pero un aumento desde 706 millones de dólares (1.67 dólares/acción) en el cuarto trimestre de 2023. La ganancia neta ajustada fue de 3.09 dólares por acción.
Los ingresos netos totales aumentaron un 2% a 10.2 mil millones de dólares, mientras que los gastos no relacionados con intereses aumentaron un 15% a 6.1 mil millones de dólares. El trimestre incluyó 140 millones de dólares en gastos por integración de Discover y 75 millones de dólares en actividades de reserva legal. Las métricas de crédito mostraron cancelaciones netas de 2.9 mil millones de dólares, compensadas por un liberación de reservas de préstamos de 245 millones de dólares.
Los préstamos al final del período aumentaron un 2% a 327.8 mil millones de dólares, con préstamos de tarjeta de crédito en aumento del 4% a 162.5 mil millones de dólares. Los depósitos totales crecieron un 3% a 362.7 mil millones de dólares. La empresa mantiene una sólida posición de capital con un ratio CET1 del 13.5%. Las votaciones de los accionistas para la adquisición de Discover están programadas para el 18 de febrero, con la finalización prevista a principios de 2025, sujeto a aprobaciones.
캐피털 원 (NYSE: COF)은 2024년 4분기에 11억 달러의 순이익을 보고했으며, 이는 주당 희석주가 2.67달러로, 2024년 3분기 18억 달러 (주당 4.41달러)에서 하락했지만 2023년 4분기 7억 6백만 달러 (주당 1.67달러)에서 증가한 수치입니다. 조정된 순이익은 주당 3.09달러였습니다.
총 순수익은 2% 증가하여 102억 달러에 달했으며, 비이자 비용은 15% 증가하여 61억 달러에 도달했습니다. 이번 분기에는 Discover 통합 비용으로 1억 4천만 달러, 법적 준비금 활동으로 7천5백만 달러가 포함되었습니다. 신용 지표는 29억 달러의 순부실이 발생했으며, 2억 4천5백만 달러의 대출 준비금 해제가 상쇄되었습니다.
기간 종료 시 대출은 2% 증가하여 3,278억 달러에 도달하였으며, 신용 카드 대출은 4% 증가하여 1,625억 달러에 이릅니다. 총 예금은 3% 증가하여 3,627억 달러에 달했습니다. 회사는 13.5%의 CET1 비율로 강력한 자본 위치를 유지하고 있습니다. Discover 인수에 대한 주주 투표는 2월 18일로 예정되어 있으며, 2025년 초 완료될 예정이며, 승인에 따라 달라질 수 있습니다.
Capital One (NYSE: COF) a annoncé un bénéfice net de 1,1 milliard de dollars pour le quatrième trimestre de 2024, soit 2,67 dollars par action diluée, en baisse par rapport à 1,8 milliard de dollars (4,41 dollars/action) au troisième trimestre de 2024, mais en hausse par rapport à 706 millions de dollars (1,67 dollar/action) au quatrième trimestre de 2023. Le bénéfice net ajusté était de 3,09 dollars par action.
Le chiffre d'affaires net total a augmenté de 2% pour atteindre 10,2 milliards de dollars, tandis que les dépenses non liées aux intérêts ont augmenté de 15% pour atteindre 6,1 milliards de dollars. Le trimestre a inclus 140 millions de dollars de dépenses liées à l'intégration de Discover et 75 millions de dollars d'activité de réserve légale. Les indicateurs de crédit ont montré des pertes nettes de 2,9 milliards de dollars, compensées par une libération de réserves de prêts de 245 millions de dollars.
Les prêts à la fin de la période ont augmenté de 2% pour atteindre 327,8 milliards de dollars, avec des prêts par carte de crédit en hausse de 4% à 162,5 milliards de dollars. Les dépôts totaux ont augmenté de 3% pour atteindre 362,7 milliards de dollars. L'entreprise conserve une solide position en capital avec un ratio CET1 de 13,5%. Les votes des actionnaires concernant l'acquisition de Discover sont prévus pour le 18 février, avec un achèvement attendu au début de 2025, sous réserve d'approbations.
Capital One (NYSE: COF) meldete für das 4. Quartal 2024 einen Nettogewinn von 1,1 Milliarden Dollar, was 2,67 Dollar pro verwässerter Aktie entspricht. Im Vergleich zu 1,8 Milliarden Dollar (4,41 Dollar/Aktie) im 3. Quartal 2024 ist dies ein Rückgang, jedoch ein Anstieg gegenüber 706 Millionen Dollar (1,67 Dollar/Aktie) im 4. Quartal 2023. Der bereinigte Nettogewinn betrug 3,09 Dollar pro Aktie.
Der gesamte Nettoumsatz stieg um 2% auf 10,2 Milliarden Dollar, während die nichtzinsbezogenen Aufwendungen um 15% auf 6,1 Milliarden Dollar anstiegen. Im Quartal wurden 140 Millionen Dollar für Integrationskosten von Discover und 75 Millionen Dollar für rechtliche Rückstellungen verbucht. Die Kreditkennzahlen zeigten Nettoausfälle von 2,9 Milliarden Dollar, die durch eine Freigabe von 245 Millionen Dollar aus der Kreditzusatzreserve ausgeglichen wurden.
Die Darlehen zum Periodenende stiegen um 2% auf 327,8 Milliarden Dollar, wobei die Kreditkartendarlehen um 4% auf 162,5 Milliarden Dollar anstiegen. Die Gesamtmittel stiegen um 3% auf 362,7 Milliarden Dollar. Das Unternehmen hält eine starke Kapitalposition mit einem CET1-Verhältnis von 13,5%. Die Aktionärswahlen zur Übernahme von Discover sind für den 18. Februar geplant, mit einem Abschluss, der für Anfang 2025 erwartet wird, vorbehaltlich der Genehmigungen.
- Net income increased year-over-year from $706M to $1.1B
- Total net revenue grew 2% to $10.2B
- Credit Card loans increased 4% to $162.5B
- Total deposits grew 3% to $362.7B
- Strong capital position with 13.5% CET1 ratio
- $245M loan reserve release
- Net income decreased 39% quarter-over-quarter from $1.8B to $1.1B
- Non-interest expenses increased 15% to $6.1B
- Net charge-offs of $2.9B
- Net interest margin declined 8 basis points to 7.03%
- Marketing expenses increased 24%
Insights
Capital One's Q4 2024 performance presents a complex picture that requires careful analysis. The headline net income of $1.1 billion ($2.67 per share) represents a
Credit quality metrics demand attention: Net charge-offs of
The loan portfolio shows strategic growth, with Domestic Card loans up
The
Net of adjusting items, Fourth Quarter 2024 Net Income of
“Our fourth quarter results included steady top-line growth in our domestic card business, strong originations and a return to loan growth in our auto business, and stable credit results across our businesses,” said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. “The shareholder votes on the Discover acquisition are scheduled for February 18th, and we continue to work closely with our regulators as our applications work their way through the regulatory approval process. We remain well positioned to complete the acquisition in early 2025, subject to regulatory and shareholder approvals.”
The quarter included the following adjusting items:
(Dollars in millions, except per share data) |
Pre-Tax
|
After-Tax
|
||
Discover integration expenses |
$ |
140 |
$ |
0.27 |
Legal reserve activity |
$ |
75 |
$ |
0.15 |
The quarter included the following notable item:
(Dollars in millions, except per share data) |
Pre-Tax
|
After-Tax
|
||
Accelerated philanthropy contributions | $ |
100 |
$ |
0.20 |
All comparisons below are for the fourth quarter of 2024 compared with the third quarter of 2024 unless otherwise noted.
Fourth Quarter 2024 Income Statement Summary:
-
Total net revenue increased 2 percent to
.$10.2 billion -
Total non-interest expense increased 15 percent to
billion:$6.1 - 24 percent increase in marketing.
- 12 percent increase in operating expenses.
-
Pre-provision earnings(2) decreased 13 percent to
.$4.1 billion -
Provision for credit losses increased
to$160 million billion:$2.6 -
Net charge-offs of
.$2.9 billion -
loan reserve release.$245 million
-
Net charge-offs of
- Net interest margin of 7.03 percent, a decrease of 8 basis points.
-
Efficiency ratio of 59.75 percent.
- Adjusted efficiency ratio(1) of 57.64 percent.
-
Operating efficiency ratio of 46.26 percent.
- Adjusted operating efficiency ratio(1) of 44.15 percent.
Fourth Quarter 2024 Balance Sheet Summary:
- Common equity Tier 1 capital ratio(3) under Basel III Standardized Approach of 13.5 percent at December 31, 2024.
-
Period-end loans held for investment in the quarter increased
, or 2 percent, to$7.5 billion .$327.8 billion -
Credit Card period-end loans increased
, or 4 percent, to$5.9 billion .$162.5 billion -
Domestic Card period-end loans increased
, or 4 percent, to$6.2 billion .$155.6 billion
-
Domestic Card period-end loans increased
-
Consumer Banking period-end loans increased
, or 2 percent, to$1.3 billion .$78.1 billion -
Auto period-end loans increased
, or 2 percent, to$1.3 billion .$76.8 billion
-
Auto period-end loans increased
-
Commercial Banking period-end loans increased
, or less than 1 percent, to$341 million .$87.2 billion
-
Credit Card period-end loans increased
-
Average loans held for investment in the quarter increased
, or 1 percent, to$3.6 billion .$321.9 billion -
Credit Card average loans increased
, or 2 percent, to$3.4 billion .$157.3 billion -
Domestic Card average loans increased
, or 2 percent, to$3.3 billion .$150.3 billion
-
Domestic Card average loans increased
-
Consumer Banking average loans increased
, or 1 percent, to$1.0 billion .$77.2 billion -
Auto average loans increased
, or 1 percent, to$1.0 billion .$76.0 billion
-
Auto average loans increased
-
Commercial Banking average loans decreased
, or 1 percent, to$777 million .$87.3 billion
-
Credit Card average loans increased
-
Period-end total deposits increased
, or 3 percent, to$9.1 billion , while average deposits increased$362.7 billion , or 2 percent, to$7.2 billion .$358.3 billion - Interest-bearing deposits rate paid decreased 18 basis points to 3.45 percent.
2024 Full Year Income Statement Summary:
-
Total net revenue increased 6 percent to
.$39.1 billion -
Total non-interest expense increased 6 percent to
billion:$21.5 - 14 percent increase in Marketing expense.
- 4 percent increase in operating expenses.
-
Pre-provision earnings(2) increased 7 percent to
.$17.6 billion -
Provision for credit losses increased
to$1.3 billion .$11.7 billion - Net interest margin of 6.88 percent, an increase of 25 basis points.
-
Efficiency ratio of 54.93 percent.
- Adjusted efficiency ratio(1) of 54.00 percent.
-
Operating efficiency ratio of 43.27 percent.
- Adjusted operating efficiency ratio(1) of 42.35 percent.
Earnings Conference Call Webcast Information
The company will hold an earnings conference call on January 21, 2025 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). Under “About,” 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 February 4, 2025 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. Forward-looking statements often use words such as “will,” “anticipate,” “target,” “expect,” “think,” “estimate,” “intend,” “plan,” “goal,” “believe,” “forecast,” “outlook” or other words of similar meaning. Any forward-looking statements made by Capital One or on its behalf speak only as of the date they are made or as of the date indicated, and Capital One does not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. 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. For additional information on factors that could materially influence forward-looking statements included in this earnings press release, see the risk factors set forth under “Part I—Item 1A. Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”).
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company which, along with its subsidiaries, had
(1) This is a non-GAAP measure. We believe non-GAAP measures 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, both in the current period and across periods. See our Financial Supplement, filed as Exhibit 99.2 to our Current Report on Form 8-K on January 21, 2025 with the SEC, “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for a reconciliation and additional information on non-GAAP measures.
(2) Pre-provision earnings is a non-GAAP metric calculated based on total net revenue less non-interest expense for the period. Management believes that this financial metric is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses. See our Financial Supplement, filed as Exhibit 99.2 to our Current Report on Form 8-K on January 21, 2025 with the SEC, “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for a reconciliation and additional information on non-GAAP measures.
(3) Regulatory capital metrics as of December 31, 2024 are preliminary and therefore subject to change.
Capital One Financial Corporation |
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Financial Supplement(1)(2) |
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Fourth Quarter 2024 |
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Table of Contents |
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Capital One Financial Corporation Consolidated Results |
Page |
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Table 1: |
Financial Summary—Consolidated |
1 |
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Table 2: |
Selected Metrics—Consolidated |
3 |
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Table 3: |
Consolidated Statements of Income |
4 |
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Table 4: |
Consolidated Balance Sheets |
6 |
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Table 5: |
Notes to Financial Summary, Selected Metrics and Consolidated Financial Statements (Tables 1—4) |
8 |
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Table 6: |
Average Balances, Net Interest Income and Net Interest Margin |
9 |
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Table 7: |
Loan Information and Performance Statistics |
10 |
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Table 8: |
Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity |
12 |
Business Segment Results |
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Table 9: |
Financial Summary—Business Segment Results |
13 |
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Table 10: |
Financial & Statistical Summary—Credit Card Business |
14 |
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Table 11: |
Financial & Statistical Summary—Consumer Banking Business |
16 |
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Table 12: |
Financial & Statistical Summary—Commercial Banking Business |
17 |
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Table 13: |
Financial & Statistical Summary—Other and Total |
18 |
Other |
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Table 14: |
Notes to Net Interest Margin, Loan, Allowance and Business Segment Disclosures (Tables 6—13) |
19 |
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Table 15: |
Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures |
20 |
__________ |
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(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 Annual Report on Form 10-K for the period ended December 31, 2024 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 |
CAPITAL ONE FINANCIAL CORPORATION (COF) Table 1: Financial Summary—Consolidated |
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|
|
|
|
|
2024 Q4 |
|
Year Ended December 31, |
|||||||||||||||||||||||
(Dollars in millions, except per share data and as noted) |
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
|
2024 vs. |
|||||||||||||||||
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
|
2024 |
|
2023 |
|
2023 |
||||||||||||||||||
Income Statement |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net interest income |
|
$ |
8,098 |
|
|
$ |
8,076 |
|
|
$ |
7,546 |
|
|
$ |
7,488 |
|
|
$ |
7,519 |
|
|
— |
|
|
8 |
% |
|
$ |
31,208 |
|
|
$ |
29,241 |
|
|
7 |
% |
Non-interest income |
|
|
2,092 |
|
|
|
1,938 |
|
|
|
1,960 |
|
|
|
1,914 |
|
|
|
1,987 |
|
|
8 |
% |
|
5 |
|
|
|
7,904 |
|
|
|
7,546 |
|
|
5 |
|
Total net revenue(1) |
|
|
10,190 |
|
|
|
10,014 |
|
|
|
9,506 |
|
|
|
9,402 |
|
|
|
9,506 |
|
|
2 |
|
|
7 |
|
|
|
39,112 |
|
|
|
36,787 |
|
|
6 |
|
Provision for credit losses |
|
|
2,642 |
|
|
|
2,482 |
|
|
|
3,909 |
|
|
|
2,683 |
|
|
|
2,857 |
|
|
6 |
|
|
(8 |
) |
|
|
11,716 |
|
|
|
10,426 |
|
|
12 |
|
Non-interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Marketing |
|
|
1,375 |
|
|
|
1,113 |
|
|
|
1,064 |
|
|
|
1,010 |
|
|
|
1,254 |
|
|
24 |
|
|
10 |
|
|
|
4,562 |
|
|
|
4,009 |
|
|
14 |
|
Operating expense |
|
|
4,714 |
|
|
|
4,201 |
|
|
|
3,882 |
|
|
|
4,127 |
|
|
|
4,463 |
|
|
12 |
|
|
6 |
|
|
|
16,924 |
|
|
|
16,307 |
|
|
4 |
|
Total non-interest expense |
|
|
6,089 |
|
|
|
5,314 |
|
|
|
4,946 |
|
|
|
5,137 |
|
|
|
5,717 |
|
|
15 |
|
|
7 |
|
|
|
21,486 |
|
|
|
20,316 |
|
|
6 |
|
Income from continuing operations before income taxes |
|
|
1,459 |
|
|
|
2,218 |
|
|
|
651 |
|
|
|
1,582 |
|
|
|
932 |
|
|
(34 |
) |
|
57 |
|
|
|
5,910 |
|
|
|
6,045 |
|
|
(2 |
) |
Income tax provision |
|
|
366 |
|
|
|
441 |
|
|
|
54 |
|
|
|
302 |
|
|
|
226 |
|
|
(17 |
) |
|
62 |
|
|
|
1,163 |
|
|
|
1,158 |
|
|
— |
|
Income from continuing operations, net of tax |
|
|
1,093 |
|
|
|
1,777 |
|
|
|
597 |
|
|
|
1,280 |
|
|
|
706 |
|
|
(38 |
) |
|
55 |
|
|
|
4,747 |
|
|
|
4,887 |
|
|
(3 |
) |
Income from discontinued operations, net of tax |
|
|
3 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
** |
|
** |
|
|
3 |
|
|
|
— |
|
|
** |
|||
Net income |
|
|
1,096 |
|
|
|
1,777 |
|
|
|
597 |
|
|
|
1,280 |
|
|
|
706 |
|
|
(38 |
) |
|
55 |
|
|
|
4,750 |
|
|
|
4,887 |
|
|
(3 |
) |
Dividends and undistributed earnings allocated to participating securities(2) |
|
|
(17 |
) |
|
|
(28 |
) |
|
|
(9 |
) |
|
|
(23 |
) |
|
|
(10 |
) |
|
(39 |
) |
|
70 |
|
|
|
(77 |
) |
|
|
(77 |
) |
|
— |
|
Preferred stock dividends |
|
|
(57 |
) |
|
|
(57 |
) |
|
|
(57 |
) |
|
|
(57 |
) |
|
|
(57 |
) |
|
— |
|
|
— |
|
|
|
(228 |
) |
|
|
(228 |
) |
|
— |
|
Net income available to common stockholders |
|
$ |
1,022 |
|
|
$ |
1,692 |
|
|
$ |
531 |
|
|
$ |
1,200 |
|
|
$ |
639 |
|
|
(40 |
) |
|
60 |
|
|
$ |
4,445 |
|
|
$ |
4,582 |
|
|
(3 |
) |
Common Share Statistics |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Basic earnings per common share:(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net income from continuing operations |
|
$ |
2.66 |
|
|
$ |
4.42 |
|
|
$ |
1.39 |
|
|
$ |
3.14 |
|
|
$ |
1.67 |
|
|
(40 |
)% |
|
59 |
% |
|
$ |
11.60 |
|
|
$ |
11.98 |
|
|
(3 |
)% |
Income from discontinued operations |
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
** |
|
** |
|
|
0.01 |
|
|
|
— |
|
|
** |
|||
Net income per basic common share |
|
$ |
2.67 |
|
|
$ |
4.42 |
|
|
$ |
1.39 |
|
|
$ |
3.14 |
|
|
$ |
1.67 |
|
|
(40 |
) |
|
60 |
|
|
$ |
11.61 |
|
|
$ |
11.98 |
|
|
(3 |
) |
Diluted earnings per common share:(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net income from continuing operations |
|
$ |
2.66 |
|
|
$ |
4.41 |
|
|
$ |
1.38 |
|
|
$ |
3.13 |
|
|
$ |
1.67 |
|
|
(40 |
)% |
|
59 |
% |
|
$ |
11.58 |
|
|
$ |
11.95 |
|
|
(3 |
)% |
Income from discontinued operations |
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
** |
|
** |
|
|
0.01 |
|
|
|
— |
|
|
** |
|||
Net income per diluted common share |
|
$ |
2.67 |
|
|
$ |
4.41 |
|
|
$ |
1.38 |
|
|
$ |
3.13 |
|
|
$ |
1.67 |
|
|
(39 |
) |
|
60 |
|
|
$ |
11.59 |
|
|
$ |
11.95 |
|
|
(3 |
) |
Weighted-average common shares outstanding (in millions): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Basic |
|
|
382.4 |
|
|
|
383.0 |
|
|
|
383.1 |
|
|
|
382.2 |
|
|
|
381.9 |
|
|
— |
|
|
— |
|
|
|
382.7 |
|
|
|
382.4 |
|
|
— |
|
Diluted |
|
|
383.4 |
|
|
|
383.7 |
|
|
|
383.9 |
|
|
|
383.4 |
|
|
|
382.8 |
|
|
— |
|
|
— |
|
|
|
383.6 |
|
|
|
383.4 |
|
|
— |
|
Common shares outstanding (period-end, in millions) |
|
|
381.2 |
|
|
|
381.5 |
|
|
|
381.9 |
|
|
|
382.1 |
|
|
|
380.4 |
|
|
— |
|
|
— |
|
|
|
381.2 |
|
|
|
380.4 |
|
|
— |
|
Dividends declared and paid per common share |
|
$ |
0.60 |
|
|
$ |
0.60 |
|
|
$ |
0.60 |
|
|
$ |
0.60 |
|
|
$ |
0.60 |
|
|
— |
|
|
— |
|
|
$ |
2.40 |
|
|
$ |
2.40 |
|
|
— |
|
Tangible book value per common share (period-end)(3) |
|
|
106.97 |
|
|
|
112.36 |
|
|
|
99.28 |
|
|
|
98.67 |
|
|
|
99.78 |
|
|
(5 |
)% |
|
7 |
% |
|
|
106.97 |
|
|
|
99.78 |
|
|
7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
2024 Q4 |
|
Year Ended December 31, |
||||||||||||||||
(Dollars in millions) |
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
|
2024 vs. |
||||||||||
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
|
2024 |
|
2023 |
|
2023 |
|||||||||||
Balance Sheet (Period-End) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans held for investment |
|
$ |
327,775 |
|
$ |
320,243 |
|
$ |
318,186 |
|
$ |
315,154 |
|
$ |
320,472 |
|
2 |
% |
|
2 |
% |
|
$ |
327,775 |
|
$ |
320,472 |
|
2 |
% |
Interest-earning assets |
|
|
463,058 |
|
|
458,189 |
|
|
452,547 |
|
|
453,557 |
|
|
449,701 |
|
1 |
|
|
3 |
|
|
|
463,058 |
|
|
449,701 |
|
3 |
|
Total assets |
|
|
490,144 |
|
|
486,433 |
|
|
480,018 |
|
|
481,720 |
|
|
478,464 |
|
1 |
|
|
2 |
|
|
|
490,144 |
|
|
478,464 |
|
2 |
|
Interest-bearing deposits |
|
|
336,585 |
|
|
327,253 |
|
|
324,437 |
|
|
323,352 |
|
|
320,389 |
|
3 |
|
|
5 |
|
|
|
336,585 |
|
|
320,389 |
|
5 |
|
Total deposits |
|
|
362,707 |
|
|
353,631 |
|
|
351,442 |
|
|
350,969 |
|
|
348,413 |
|
3 |
|
|
4 |
|
|
|
362,707 |
|
|
348,413 |
|
4 |
|
Borrowings |
|
|
45,551 |
|
|
49,336 |
|
|
47,956 |
|
|
50,361 |
|
|
49,856 |
|
(8 |
) |
|
(9 |
) |
|
|
45,551 |
|
|
49,856 |
|
(9 |
) |
Common equity |
|
|
55,938 |
|
|
58,080 |
|
|
53,135 |
|
|
52,955 |
|
|
53,244 |
|
(4 |
) |
|
5 |
|
|
|
55,938 |
|
|
53,244 |
|
5 |
|
Total stockholders’ equity |
|
|
60,784 |
|
|
62,925 |
|
|
57,981 |
|
|
57,801 |
|
|
58,089 |
|
(3 |
) |
|
5 |
|
|
|
60,784 |
|
|
58,089 |
|
5 |
|
Balance Sheet (Average Balances) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans held for investment |
|
$ |
321,871 |
|
$ |
318,255 |
|
$ |
314,888 |
|
$ |
314,614 |
|
$ |
315,890 |
|
1 |
% |
|
2 |
% |
|
$ |
317,421 |
|
$ |
311,541 |
|
2 |
% |
Interest-earning assets |
|
|
460,640 |
|
|
454,484 |
|
|
450,908 |
|
|
447,803 |
|
|
446,929 |
|
1 |
|
|
3 |
|
|
|
453,481 |
|
|
441,238 |
|
3 |
|
Total assets |
|
|
488,300 |
|
|
481,219 |
|
|
477,285 |
|
|
474,995 |
|
|
472,594 |
|
1 |
|
|
3 |
|
|
|
480,451 |
|
|
467,807 |
|
3 |
|
Interest-bearing deposits |
|
|
331,564 |
|
|
324,509 |
|
|
322,581 |
|
|
318,450 |
|
|
316,808 |
|
2 |
|
|
5 |
|
|
|
324,297 |
|
|
313,737 |
|
3 |
|
Total deposits |
|
|
358,323 |
|
|
351,125 |
|
|
349,488 |
|
|
345,657 |
|
|
345,328 |
|
2 |
|
|
4 |
|
|
|
351,168 |
|
|
343,554 |
|
2 |
|
Borrowings |
|
|
46,293 |
|
|
48,274 |
|
|
48,842 |
|
|
50,474 |
|
|
51,070 |
|
(4 |
) |
|
(9 |
) |
|
|
48,465 |
|
|
49,332 |
|
(2 |
) |
Common equity |
|
|
56,918 |
|
|
56,443 |
|
|
53,262 |
|
|
53,152 |
|
|
50,786 |
|
1 |
|
|
12 |
|
|
|
54,953 |
|
|
50,349 |
|
9 |
|
Total stockholders’ equity |
|
|
61,764 |
|
|
61,289 |
|
|
58,107 |
|
|
57,998 |
|
|
55,632 |
|
1 |
|
|
11 |
|
|
|
59,799 |
|
|
55,195 |
|
8 |
|
CAPITAL ONE FINANCIAL CORPORATION (COF) Table 2: Selected Metrics—Consolidated |
|||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2024 Q4 |
|
Year Ended December 31, |
|||||||||||||||||||||||
(Dollars in millions, except as noted) |
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
|
2024 vs. |
|||||||||||||||||
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
|
2024 |
|
2023 |
|
2023 |
||||||||||||||||||
Performance Metrics |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net interest income growth (period over period) |
|
|
— |
|
|
|
7 |
% |
|
|
1 |
% |
|
|
— |
|
|
|
1 |
% |
|
** |
|
|
** |
|
|
7 |
% |
|
|
8 |
% |
|
** |
||
Non-interest income growth (period over period) |
|
|
8 |
% |
|
|
(1 |
) |
|
|
2 |
|
|
|
(4 |
)% |
|
|
2 |
|
|
** |
|
|
** |
|
|
5 |
|
|
|
6 |
|
|
** |
||
Total net revenue growth (period over period) |
|
|
2 |
|
|
|
5 |
|
|
|
1 |
|
|
|
(1 |
) |
|
|
1 |
|
|
** |
|
|
** |
|
|
6 |
|
|
|
7 |
|
|
** |
||
Total net revenue margin(4) |
|
|
8.85 |
|
|
|
8.81 |
|
|
|
8.43 |
|
|
|
8.40 |
|
|
|
8.51 |
|
|
4 |
bps |
|
34 |
bps |
|
|
8.62 |
|
|
|
8.34 |
|
|
28 |
bps |
Net interest margin(5) |
|
|
7.03 |
|
|
|
7.11 |
|
|
|
6.70 |
|
|
|
6.69 |
|
|
|
6.73 |
|
|
(8 |
) |
|
30 |
|
|
|
6.88 |
|
|
|
6.63 |
|
|
25 |
|
Return on average assets |
|
|
0.90 |
|
|
|
1.48 |
|
|
|
0.50 |
|
|
|
1.08 |
|
|
|
0.60 |
|
|
(58 |
) |
|
30 |
|
|
|
0.99 |
|
|
|
1.04 |
|
|
(5 |
) |
Return on average tangible assets(6) |
|
|
0.92 |
|
|
|
1.53 |
|
|
|
0.52 |
|
|
|
1.11 |
|
|
|
0.62 |
|
|
(61 |
) |
|
30 |
|
|
|
1.02 |
|
|
|
1.08 |
|
|
(6 |
) |
Return on average common equity(7) |
|
|
7.16 |
|
|
|
11.99 |
|
|
|
3.99 |
|
|
|
9.03 |
|
|
|
5.03 |
|
|
(483 |
) |
|
213 |
|
|
|
8.08 |
|
|
|
9.10 |
|
|
(102 |
) |
Return on average tangible common equity(8) |
|
|
9.77 |
|
|
|
16.42 |
|
|
|
5.59 |
|
|
|
12.67 |
|
|
|
7.20 |
|
|
(665 |
) |
|
257 |
|
|
|
11.18 |
|
|
|
13.04 |
|
|
(186 |
) |
Efficiency ratio(9) |
|
|
59.75 |
|
|
|
53.07 |
|
|
|
52.03 |
|
|
|
54.64 |
|
|
|
60.14 |
|
|
668 |
|
|
(39 |
) |
|
|
54.93 |
|
|
|
55.23 |
|
|
(30 |
) |
Operating efficiency ratio(10) |
|
|
46.26 |
|
|
|
41.95 |
|
|
|
40.84 |
|
|
|
43.89 |
|
|
|
46.95 |
|
|
431 |
|
|
(69 |
) |
|
|
43.27 |
|
|
|
44.33 |
|
|
(106 |
) |
Effective income tax rate for continuing operations |
|
|
25.1 |
|
|
|
19.9 |
|
|
|
8.3 |
|
|
|
19.1 |
|
|
|
24.2 |
|
|
520 |
|
|
90 |
|
|
|
19.7 |
|
|
|
19.2 |
|
|
50 |
|
Employees (period-end, in thousands) |
|
|
52.6 |
|
|
|
52.5 |
|
|
|
52.1 |
|
|
|
51.3 |
|
|
|
52.0 |
|
|
— |
|
|
1 |
% |
|
|
52.6 |
|
|
|
52.0 |
|
|
1 |
% |
Credit Quality Metrics |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Allowance for credit losses |
|
$ |
16,258 |
|
|
$ |
16,534 |
|
|
$ |
16,649 |
|
|
$ |
15,380 |
|
|
$ |
15,296 |
|
|
(2 |
)% |
|
6 |
% |
|
$ |
16,258 |
|
|
$ |
15,296 |
|
|
6 |
% |
Allowance coverage ratio |
|
|
4.96 |
% |
|
|
5.16 |
% |
|
|
5.23 |
% |
|
|
4.88 |
% |
|
|
4.77 |
% |
|
(20 |
) bps |
|
19 |
bps |
|
|
4.96 |
% |
|
|
4.77 |
% |
|
19 |
bps |
Net charge-offs |
|
$ |
2,884 |
|
|
$ |
2,604 |
|
|
$ |
2,644 |
|
|
$ |
2,616 |
|
|
$ |
2,533 |
|
|
11 |
% |
|
14 |
% |
|
$ |
10,748 |
|
|
$ |
8,414 |
|
|
28 |
% |
Net charge-off rate(11) |
|
|
3.59 |
% |
|
|
3.27 |
% |
|
|
3.36 |
% |
|
|
3.33 |
% |
|
|
3.21 |
% |
|
32 |
bps |
|
38 |
bps |
|
|
3.39 |
% |
|
|
2.70 |
% |
|
69 |
bps |
30+ day performing delinquency rate |
|
|
3.69 |
|
|
|
3.58 |
|
|
|
3.36 |
|
|
|
3.40 |
|
|
|
3.71 |
|
|
11 |
|
|
(2 |
) |
|
|
3.69 |
|
|
|
3.71 |
|
|
(2 |
) |
30+ day delinquency rate |
|
|
3.98 |
|
|
|
3.89 |
|
|
|
3.63 |
|
|
|
3.67 |
|
|
|
3.99 |
|
|
9 |
|
|
(1 |
) |
|
|
3.98 |
|
|
|
3.99 |
|
|
(1 |
) |
Capital Ratios(12) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Common equity Tier 1 capital |
|
|
13.5 |
% |
|
|
13.6 |
% |
|
|
13.2 |
% |
|
|
13.1 |
% |
|
|
12.9 |
% |
|
(10 |
) bps |
|
60 |
bps |
|
|
13.5 |
% |
|
|
12.9 |
% |
|
60 |
bps |
Tier 1 capital |
|
|
14.8 |
|
|
|
14.9 |
|
|
|
14.5 |
|
|
|
14.4 |
|
|
|
14.2 |
|
|
(10 |
) |
|
60 |
|
|
|
14.8 |
|
|
|
14.2 |
|
|
60 |
|
Total capital |
|
|
16.4 |
|
|
|
16.6 |
|
|
|
16.3 |
|
|
|
16.2 |
|
|
|
16.0 |
|
|
(20 |
) |
|
40 |
|
|
|
16.4 |
|
|
|
16.0 |
|
|
40 |
|
Tier 1 leverage |
|
|
11.6 |
|
|
|
11.6 |
|
|
|
11.3 |
|
|
|
11.3 |
|
|
|
11.2 |
|
|
— |
|
|
40 |
|
|
|
11.6 |
|
|
|
11.2 |
|
|
40 |
|
Tangible common equity (“TCE”)(13) |
|
|
8.6 |
|
|
|
9.1 |
|
|
|
8.2 |
|
|
|
8.1 |
|
|
|
8.2 |
|
|
(51 |
) |
|
39 |
|
|
|
8.6 |
|
|
|
8.2 |
|
|
39 |
|
CAPITAL ONE FINANCIAL CORPORATION (COF) Table 3: Consolidated Statements of Income |
|||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2024 Q4 |
|
Year Ended December 31, |
|||||||||||||||||||||||
(Dollars in millions, except as noted) |
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
|
2024 vs. |
|||||||||||||||||
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
|
2024 |
|
2023 |
|
2023 |
||||||||||||||||||
Interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Loans, including loans held for sale |
|
$ |
10,434 |
|
|
$ |
10,547 |
|
|
$ |
9,993 |
|
|
$ |
9,920 |
|
|
$ |
9,934 |
|
|
(1 |
)% |
|
5 |
% |
|
$ |
40,894 |
|
|
$ |
37,410 |
|
|
9 |
% |
Investment securities |
|
|
753 |
|
|
|
733 |
|
|
|
700 |
|
|
|
687 |
|
|
|
669 |
|
|
3 |
|
|
13 |
|
|
|
2,873 |
|
|
|
2,550 |
|
|
13 |
|
Other |
|
|
530 |
|
|
|
580 |
|
|
|
587 |
|
|
|
570 |
|
|
|
542 |
|
|
(9 |
) |
|
(2 |
) |
|
|
2,267 |
|
|
|
1,978 |
|
|
15 |
|
Total interest income |
|
|
11,717 |
|
|
|
11,860 |
|
|
|
11,280 |
|
|
|
11,177 |
|
|
|
11,145 |
|
|
(1 |
) |
|
5 |
|
|
|
46,034 |
|
|
|
41,938 |
|
|
10 |
|
Interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Deposits |
|
|
2,862 |
|
|
|
2,945 |
|
|
|
2,874 |
|
|
|
2,812 |
|
|
|
2,745 |
|
|
(3 |
) |
|
4 |
|
|
|
11,493 |
|
|
|
9,489 |
|
|
21 |
|
Securitized debt obligations |
|
|
205 |
|
|
|
234 |
|
|
|
258 |
|
|
|
261 |
|
|
|
263 |
|
|
(12 |
) |
|
(22 |
) |
|
|
958 |
|
|
|
959 |
|
|
— |
|
Senior and subordinated notes |
|
|
540 |
|
|
|
596 |
|
|
|
591 |
|
|
|
606 |
|
|
|
608 |
|
|
(9 |
) |
|
(11 |
) |
|
|
2,333 |
|
|
|
2,204 |
|
|
6 |
|
Other borrowings |
|
|
12 |
|
|
|
9 |
|
|
|
11 |
|
|
|
10 |
|
|
|
10 |
|
|
33 |
|
|
20 |
|
|
|
42 |
|
|
|
45 |
|
|
(7 |
) |
Total interest expense |
|
|
3,619 |
|
|
|
3,784 |
|
|
|
3,734 |
|
|
|
3,689 |
|
|
|
3,626 |
|
|
(4 |
) |
|
— |
|
|
|
14,826 |
|
|
|
12,697 |
|
|
17 |
|
Net interest income |
|
|
8,098 |
|
|
|
8,076 |
|
|
|
7,546 |
|
|
|
7,488 |
|
|
|
7,519 |
|
|
— |
|
|
8 |
|
|
|
31,208 |
|
|
|
29,241 |
|
|
7 |
|
Provision for credit losses |
|
|
2,642 |
|
|
|
2,482 |
|
|
|
3,909 |
|
|
|
2,683 |
|
|
|
2,857 |
|
|
6 |
|
|
(8 |
) |
|
|
11,716 |
|
|
|
10,426 |
|
|
12 |
|
Net interest income after provision for credit losses |
|
|
5,456 |
|
|
|
5,594 |
|
|
|
3,637 |
|
|
|
4,805 |
|
|
|
4,662 |
|
|
(2 |
) |
|
17 |
|
|
|
19,492 |
|
|
|
18,815 |
|
|
4 |
|
Non-interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Interchange fees, net |
|
|
1,260 |
|
|
|
1,228 |
|
|
|
1,249 |
|
|
|
1,145 |
|
|
|
1,207 |
|
|
3 |
|
|
4 |
|
|
|
4,882 |
|
|
|
4,793 |
|
|
2 |
|
Service charges and other customer-related fees |
|
|
554 |
|
|
|
501 |
|
|
|
459 |
|
|
|
462 |
|
|
|
424 |
|
|
11 |
|
|
31 |
|
|
|
1,976 |
|
|
|
1,667 |
|
|
19 |
|
Net securities gains (losses) |
|
|
— |
|
|
|
(35 |
) |
|
|
— |
|
|
|
— |
|
|
|
(34 |
) |
|
** |
|
** |
|
|
(35 |
) |
|
|
(34 |
) |
|
3 |
|
||
Other |
|
|
278 |
|
|
|
244 |
|
|
|
252 |
|
|
|
307 |
|
|
|
390 |
|
|
14 |
|
|
(29 |
) |
|
|
1,081 |
|
|
|
1,120 |
|
|
(3 |
) |
Total non-interest income |
|
|
2,092 |
|
|
|
1,938 |
|
|
|
1,960 |
|
|
|
1,914 |
|
|
|
1,987 |
|
|
8 |
|
|
5 |
|
|
|
7,904 |
|
|
|
7,546 |
|
|
5 |
|
Non-interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Salaries and associate benefits |
|
|
2,329 |
|
|
|
2,391 |
|
|
|
2,200 |
|
|
|
2,478 |
|
|
|
2,284 |
|
|
(3 |
) |
|
2 |
|
|
|
9,398 |
|
|
|
9,302 |
|
|
1 |
|
Occupancy and equipment |
|
|
674 |
|
|
|
587 |
|
|
|
551 |
|
|
|
554 |
|
|
|
628 |
|
|
15 |
|
|
7 |
|
|
|
2,366 |
|
|
|
2,160 |
|
|
10 |
|
Marketing |
|
|
1,375 |
|
|
|
1,113 |
|
|
|
1,064 |
|
|
|
1,010 |
|
|
|
1,254 |
|
|
24 |
|
|
10 |
|
|
|
4,562 |
|
|
|
4,009 |
|
|
14 |
|
Professional services |
|
|
630 |
|
|
|
402 |
|
|
|
316 |
|
|
|
262 |
|
|
|
359 |
|
|
57 |
|
|
75 |
|
|
|
1,610 |
|
|
|
1,268 |
|
|
27 |
|
Communications and data processing |
|
|
398 |
|
|
|
358 |
|
|
|
355 |
|
|
|
351 |
|
|
|
345 |
|
|
11 |
|
|
15 |
|
|
|
1,462 |
|
|
|
1,383 |
|
|
6 |
|
Amortization of intangibles |
|
|
19 |
|
|
|
20 |
|
|
|
19 |
|
|
|
19 |
|
|
|
22 |
|
|
(5 |
) |
|
(14 |
) |
|
|
77 |
|
|
|
82 |
|
|
(6 |
) |
Other |
|
|
664 |
|
|
|
443 |
|
|
|
441 |
|
|
|
463 |
|
|
|
825 |
|
|
50 |
|
|
(20 |
) |
|
|
2,011 |
|
|
|
2,112 |
|
|
(5 |
) |
Total non-interest expense |
|
|
6,089 |
|
|
|
5,314 |
|
|
|
4,946 |
|
|
|
5,137 |
|
|
|
5,717 |
|
|
15 |
|
|
7 |
|
|
|
21,486 |
|
|
|
20,316 |
|
|
6 |
|
Income from continuing operations before income taxes |
|
|
1,459 |
|
|
|
2,218 |
|
|
|
651 |
|
|
|
1,582 |
|
|
|
932 |
|
|
(34 |
) |
|
57 |
|
|
|
5,910 |
|
|
|
6,045 |
|
|
(2 |
) |
Income tax provision |
|
|
366 |
|
|
|
441 |
|
|
|
54 |
|
|
|
302 |
|
|
|
226 |
|
|
(17 |
) |
|
62 |
|
|
|
1,163 |
|
|
|
1,158 |
|
|
— |
|
Income from continuing operations, net of tax |
|
|
1,093 |
|
|
|
1,777 |
|
|
|
597 |
|
|
|
1,280 |
|
|
|
706 |
|
|
(38 |
) |
|
55 |
|
|
|
4,747 |
|
|
|
4,887 |
|
|
(3 |
) |
Income from discontinued operations, net of tax |
|
|
3 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
** |
|
** |
|
|
3 |
|
|
|
— |
|
|
** |
|||
Net income |
|
|
1,096 |
|
|
|
1,777 |
|
|
|
597 |
|
|
|
1,280 |
|
|
|
706 |
|
|
(38 |
) |
|
55 |
|
|
|
4,750 |
|
|
|
4,887 |
|
|
(3 |
) |
Dividends and undistributed earnings allocated to participating securities(2) |
|
|
(17 |
) |
|
|
(28 |
) |
|
|
(9 |
) |
|
|
(23 |
) |
|
|
(10 |
) |
|
(39 |
) |
|
70 |
|
|
|
(77 |
) |
|
|
(77 |
) |
|
— |
|
Preferred stock dividends |
|
|
(57 |
) |
|
|
(57 |
) |
|
|
(57 |
) |
|
|
(57 |
) |
|
|
(57 |
) |
|
— |
|
|
— |
|
|
|
(228 |
) |
|
|
(228 |
) |
|
— |
|
Net income available to common stockholders |
|
$ |
1,022 |
|
|
$ |
1,692 |
|
|
$ |
531 |
|
|
$ |
1,200 |
|
|
$ |
639 |
|
|
(40 |
) |
|
60 |
|
|
$ |
4,445 |
|
|
$ |
4,582 |
|
|
(3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2024 Q4 |
|
Year Ended December 31, |
|||||||||||||||||||||||
|
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
|
2024 vs. |
|||||||||||||||||
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
|
2024 |
|
2023 |
|
2023 |
||||||||||||||||||
Basic earnings per common share:(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net income from continuing operations |
|
$ |
2.66 |
|
|
$ |
4.42 |
|
|
$ |
1.39 |
|
|
$ |
3.14 |
|
|
$ |
1.67 |
|
|
(40 |
)% |
|
59 |
% |
|
$ |
11.60 |
|
|
$ |
11.98 |
|
|
(3 |
)% |
Income from discontinued operations |
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
** |
|
** |
|
|
0.01 |
|
|
|
— |
|
|
** |
|||
Net income per basic common share |
|
$ |
2.67 |
|
|
$ |
4.42 |
|
|
$ |
1.39 |
|
|
$ |
3.14 |
|
|
$ |
1.67 |
|
|
(40 |
) |
|
60 |
|
|
$ |
11.61 |
|
|
$ |
11.98 |
|
|
(3 |
) |
Diluted earnings per common share:(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net income from continuing operations |
|
$ |
2.66 |
|
|
$ |
4.41 |
|
|
$ |
1.38 |
|
|
$ |
3.13 |
|
|
$ |
1.67 |
|
|
(40 |
)% |
|
59 |
% |
|
$ |
11.58 |
|
|
|
11.95 |
|
|
(3 |
)% |
Income from discontinued operations |
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
** |
|
** |
|
|
0.01 |
|
|
|
— |
|
|
** |
|||
Net income per diluted common share |
|
$ |
2.67 |
|
|
$ |
4.41 |
|
|
$ |
1.38 |
|
|
$ |
3.13 |
|
|
$ |
1.67 |
|
|
(39 |
) |
|
60 |
|
|
$ |
11.59 |
|
|
$ |
11.95 |
|
|
(3 |
) |
Weighted-average common shares outstanding (in millions): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Basic common shares |
|
|
382.4 |
|
|
|
383.0 |
|
|
|
383.1 |
|
|
|
382.2 |
|
|
|
381.9 |
|
|
— |
|
|
— |
|
|
|
382.7 |
|
|
|
382.4 |
|
|
— |
|
Diluted common shares |
|
|
383.4 |
|
|
|
383.7 |
|
|
|
383.9 |
|
|
|
383.4 |
|
|
|
382.8 |
|
|
— |
|
|
— |
|
|
|
383.6 |
|
|
|
383.4 |
|
|
— |
|
CAPITAL ONE FINANCIAL CORPORATION (COF) Table 4: Consolidated Balance Sheets |
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2024 Q4 |
||||||||||||||
|
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||||||
(Dollars in millions) |
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
||||||||||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cash and due from banks |
|
$ |
3,028 |
|
|
$ |
3,976 |
|
|
$ |
5,298 |
|
|
$ |
4,671 |
|
|
$ |
4,903 |
|
|
(24 |
)% |
|
(38 |
)% |
Interest-bearing deposits and other short-term investments |
|
|
40,202 |
|
|
|
45,322 |
|
|
|
40,116 |
|
|
|
46,357 |
|
|
|
38,394 |
|
|
(11 |
) |
|
5 |
|
Total cash and cash equivalents |
|
|
43,230 |
|
|
|
49,298 |
|
|
|
45,414 |
|
|
|
51,028 |
|
|
|
43,297 |
|
|
(12 |
) |
|
— |
|
Restricted cash for securitization investors |
|
|
441 |
|
|
|
421 |
|
|
|
2,415 |
|
|
|
474 |
|
|
|
458 |
|
|
5 |
|
|
(4 |
) |
Securities available for sale |
|
|
83,013 |
|
|
|
83,500 |
|
|
|
79,250 |
|
|
|
78,398 |
|
|
|
79,117 |
|
|
(1 |
) |
|
5 |
|
Loans held for investment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Unsecuritized loans held for investment |
|
|
298,241 |
|
|
|
292,061 |
|
|
|
289,124 |
|
|
|
285,577 |
|
|
|
289,229 |
|
|
2 |
|
|
3 |
|
Loans held in consolidated trusts |
|
|
29,534 |
|
|
|
28,182 |
|
|
|
29,062 |
|
|
|
29,577 |
|
|
|
31,243 |
|
|
5 |
|
|
(5 |
) |
Total loans held for investment |
|
|
327,775 |
|
|
|
320,243 |
|
|
|
318,186 |
|
|
|
315,154 |
|
|
|
320,472 |
|
|
2 |
|
|
2 |
|
Allowance for credit losses |
|
|
(16,258 |
) |
|
|
(16,534 |
) |
|
|
(16,649 |
) |
|
|
(15,380 |
) |
|
|
(15,296 |
) |
|
(2 |
) |
|
6 |
|
Net loans held for investment |
|
|
311,517 |
|
|
|
303,709 |
|
|
|
301,537 |
|
|
|
299,774 |
|
|
|
305,176 |
|
|
3 |
|
|
2 |
|
Loans held for sale |
|
|
202 |
|
|
|
96 |
|
|
|
808 |
|
|
|
1,631 |
|
|
|
854 |
|
|
110 |
|
|
(76 |
) |
Premises and equipment, net |
|
|
4,511 |
|
|
|
4,440 |
|
|
|
4,396 |
|
|
|
4,366 |
|
|
|
4,375 |
|
|
2 |
|
|
3 |
|
Interest receivable |
|
|
2,532 |
|
|
|
2,577 |
|
|
|
2,494 |
|
|
|
2,514 |
|
|
|
2,478 |
|
|
(2 |
) |
|
2 |
|
Goodwill |
|
|
15,059 |
|
|
|
15,083 |
|
|
|
15,062 |
|
|
|
15,062 |
|
|
|
15,065 |
|
|
— |
|
|
— |
|
Other assets |
|
|
29,639 |
|
|
|
27,309 |
|
|
|
28,642 |
|
|
|
28,473 |
|
|
|
27,644 |
|
|
9 |
|
|
7 |
|
Total assets |
|
$ |
490,144 |
|
|
$ |
486,433 |
|
|
$ |
480,018 |
|
|
$ |
481,720 |
|
|
$ |
478,464 |
|
|
1 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2024 Q4 |
||||||||||||||
|
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||||||
(Dollars in millions) |
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
||||||||||||
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest payable |
|
$ |
666 |
|
|
$ |
705 |
|
|
$ |
668 |
|
|
$ |
762 |
|
|
$ |
649 |
|
|
(6 |
)% |
|
3 |
% |
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-interest-bearing deposits |
|
|
26,122 |
|
|
|
26,378 |
|
|
|
27,005 |
|
|
|
27,617 |
|
|
|
28,024 |
|
|
(1 |
) |
|
(7 |
) |
Interest-bearing deposits |
|
|
336,585 |
|
|
|
327,253 |
|
|
|
324,437 |
|
|
|
323,352 |
|
|
|
320,389 |
|
|
3 |
|
|
5 |
|
Total deposits |
|
|
362,707 |
|
|
|
353,631 |
|
|
|
351,442 |
|
|
|
350,969 |
|
|
|
348,413 |
|
|
3 |
|
|
4 |
|
Securitized debt obligations |
|
|
14,264 |
|
|
|
15,881 |
|
|
|
17,291 |
|
|
|
17,661 |
|
|
|
18,043 |
|
|
(10 |
) |
|
(21 |
) |
Other debt: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase |
|
|
562 |
|
|
|
520 |
|
|
|
715 |
|
|
|
568 |
|
|
|
538 |
|
|
8 |
|
|
4 |
|
Senior and subordinated notes |
|
|
30,696 |
|
|
|
32,911 |
|
|
|
29,925 |
|
|
|
32,108 |
|
|
|
31,248 |
|
|
(7 |
) |
|
(2 |
) |
Other borrowings |
|
|
29 |
|
|
|
24 |
|
|
|
25 |
|
|
|
24 |
|
|
|
27 |
|
|
21 |
|
|
7 |
|
Total other debt |
|
|
31,287 |
|
|
|
33,455 |
|
|
|
30,665 |
|
|
|
32,700 |
|
|
|
31,813 |
|
|
(6 |
) |
|
(2 |
) |
Other liabilities |
|
|
20,436 |
|
|
|
19,836 |
|
|
|
21,971 |
|
|
|
21,827 |
|
|
|
21,457 |
|
|
3 |
|
|
(5 |
) |
Total liabilities |
|
|
429,360 |
|
|
|
423,508 |
|
|
|
422,037 |
|
|
|
423,919 |
|
|
|
420,375 |
|
|
1 |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Preferred stock |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
— |
|
|
— |
|
Common stock |
|
|
7 |
|
|
|
7 |
|
|
|
7 |
|
|
|
7 |
|
|
|
7 |
|
|
— |
|
|
— |
|
Additional paid-in capital, net |
|
|
36,428 |
|
|
|
36,216 |
|
|
|
36,012 |
|
|
|
35,808 |
|
|
|
35,541 |
|
|
1 |
|
|
2 |
|
Retained earnings |
|
|
64,505 |
|
|
|
63,698 |
|
|
|
62,211 |
|
|
|
61,905 |
|
|
|
60,945 |
|
|
1 |
|
|
6 |
|
Accumulated other comprehensive loss |
|
|
(9,286 |
) |
|
|
(6,287 |
) |
|
|
(9,701 |
) |
|
|
(9,534 |
) |
|
|
(8,268 |
) |
|
48 |
|
|
12 |
|
Treasury stock, at cost |
|
|
(30,870 |
) |
|
|
(30,709 |
) |
|
|
(30,548 |
) |
|
|
(30,385 |
) |
|
|
(30,136 |
) |
|
1 |
|
|
2 |
|
Total stockholders’ equity |
|
|
60,784 |
|
|
|
62,925 |
|
|
|
57,981 |
|
|
|
57,801 |
|
|
|
58,089 |
|
|
(3 |
) |
|
5 |
|
Total liabilities and stockholders’ equity |
|
$ |
490,144 |
|
|
$ |
486,433 |
|
|
$ |
480,018 |
|
|
$ |
481,720 |
|
|
$ |
478,464 |
|
|
1 |
|
|
2 |
|
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 |
|
(2) |
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. |
|
(3) |
Tangible book value per common share is a non-GAAP measure calculated based on TCE 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. |
|
(4) |
Total net revenue margin is calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period. |
|
(5) |
Net interest margin is calculated based on annualized net interest income for the period divided by average interest-earning assets for the period. |
|
(6) |
Return on average tangible assets is a non-GAAP measure calculated based on annualized income (loss) 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. |
|
(7) |
Return on average common equity is calculated based on annualized net income (loss) available to common stockholders less income (loss) from discontinued operations, net of tax, for the period, divided by average common equity. Our calculation of return on average common equity may not be comparable to similarly-titled measures reported by other companies. |
|
(8) |
Return on average tangible common equity is a non-GAAP measure calculated based annualized on net income (loss) available to common stockholders less income (loss) from discontinued operations, net of tax, for the period, divided by average TCE. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures. |
|
(9) |
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. |
|
(10) |
Operating efficiency ratio is calculated based on operating expense for the period divided by total net revenue for the period. We also provide an adjusted operating 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. |
|
(11) |
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. |
|
(12) |
Capital ratios as of the end of Q4 2024 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. |
|
(13) |
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. |
|
** |
Not meaningful. |
|
CAPITAL ONE FINANCIAL CORPORATION (COF) Table 6: Average Balances, Net Interest Income and Net Interest Margin |
|||||||||||||||||||||||||||
|
|
2024 Q4 |
|
2024 Q3 |
|
2023 Q4 |
|||||||||||||||||||||
(Dollars in millions, except as noted) |
|
Average
|
|
Interest
|
|
Yield/Rate(1) |
|
Average
|
|
Interest
|
|
Yield/Rate(1) |
|
Average
|
|
Interest
|
|
Yield/Rate(1) |
|||||||||
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Loans, including loans held for sale |
|
$ |
322,231 |
|
$ |
10,434 |
|
12.95 |
% |
|
$ |
318,715 |
|
$ |
10,547 |
|
13.24 |
% |
|
$ |
316,670 |
|
$ |
9,934 |
|
12.55 |
% |
Investment securities |
|
|
92,248 |
|
|
753 |
|
3.26 |
|
|
|
90,644 |
|
|
733 |
|
3.24 |
|
|
|
88,650 |
|
|
669 |
|
3.02 |
|
Cash equivalents and other |
|
|
46,161 |
|
|
530 |
|
4.59 |
|
|
|
45,125 |
|
|
580 |
|
5.14 |
|
|
|
41,609 |
|
|
542 |
|
5.21 |
|
Total interest-earning assets |
|
$ |
460,640 |
|
$ |
11,717 |
|
10.17 |
|
|
$ |
454,484 |
|
$ |
11,860 |
|
10.44 |
|
|
$ |
446,929 |
|
$ |
11,145 |
|
9.97 |
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Interest-bearing deposits |
|
$ |
331,564 |
|
$ |
2,862 |
|
3.45 |
|
|
$ |
324,509 |
|
$ |
2,945 |
|
3.63 |
|
|
$ |
316,808 |
|
$ |
2,745 |
|
3.47 |
|
Securitized debt obligations |
|
|
14,931 |
|
|
205 |
|
5.47 |
|
|
|
15,833 |
|
|
234 |
|
5.93 |
|
|
|
18,022 |
|
|
263 |
|
5.84 |
|
Senior and subordinated notes |
|
|
30,888 |
|
|
540 |
|
7.00 |
|
|
|
32,041 |
|
|
596 |
|
7.43 |
|
|
|
32,586 |
|
|
608 |
|
7.46 |
|
Other borrowings and liabilities(2) |
|
|
2,434 |
|
|
12 |
|
1.85 |
|
|
|
2,389 |
|
|
9 |
|
1.50 |
|
|
|
2,349 |
|
|
10 |
|
1.74 |
|
Total interest-bearing liabilities |
|
$ |
379,817 |
|
$ |
3,619 |
|
3.81 |
|
|
$ |
374,772 |
|
$ |
3,784 |
|
4.04 |
|
|
$ |
369,765 |
|
$ |
3,626 |
|
3.92 |
|
Net interest income/spread |
|
|
|
$ |
8,098 |
|
6.36 |
|
|
|
|
$ |
8,076 |
|
6.40 |
|
|
|
|
$ |
7,519 |
|
6.05 |
|
|||
Impact of non-interest-bearing funding |
|
|
|
|
|
0.67 |
|
|
|
|
|
|
0.71 |
|
|
|
|
|
|
0.68 |
|
||||||
Net interest margin(3) |
|
|
|
|
|
7.03 |
% |
|
|
|
|
|
7.11 |
% |
|
|
|
|
|
6.73 |
% |
|
|
Year Ended December 31, |
||||||||||||||||
|
|
2024 |
|
2023 |
||||||||||||||
(Dollars in millions, except as noted) |
|
Average
|
|
Interest
|
|
Yield/Rate(1) |
|
Average
|
|
Interest
|
|
Yield/Rate(1) |
||||||
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Loans, including loans held for sale |
|
$ |
318,096 |
|
$ |
40,894 |
|
12.86 |
% |
|
$ |
312,173 |
|
$ |
37,410 |
|
11.98 |
% |
Investment securities |
|
|
90,250 |
|
|
2,873 |
|
3.18 |
|
|
|
89,105 |
|
|
2,550 |
|
2.86 |
|
Cash equivalents and other |
|
|
45,135 |
|
|
2,267 |
|
5.02 |
|
|
|
39,960 |
|
|
1,978 |
|
4.95 |
|
Total interest-earning assets |
|
$ |
453,481 |
|
$ |
46,034 |
|
10.15 |
|
|
$ |
441,238 |
|
$ |
41,938 |
|
9.50 |
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Interest-bearing deposits |
|
$ |
324,297 |
|
$ |
11,493 |
|
3.54 |
|
|
$ |
313,737 |
|
$ |
9,489 |
|
3.02 |
|
Securitized debt obligations |
|
|
16,507 |
|
|
958 |
|
5.80 |
|
|
|
17,675 |
|
|
959 |
|
5.42 |
|
Senior and subordinated notes |
|
|
31,529 |
|
|
2,333 |
|
7.40 |
|
|
|
31,109 |
|
|
2,204 |
|
7.08 |
|
Other borrowings and liabilities(2) |
|
|
2,424 |
|
|
42 |
|
1.71 |
|
|
|
2,394 |
|
|
45 |
|
1.89 |
|
Total interest-bearing liabilities |
|
$ |
374,757 |
|
$ |
14,826 |
|
3.96 |
|
|
$ |
364,915 |
|
$ |
12,697 |
|
3.48 |
|
Net interest income/spread |
|
|
|
$ |
31,208 |
|
6.20 |
|
|
|
|
$ |
29,241 |
|
6.03 |
|
||
Impact of non-interest-bearing funding |
|
|
|
|
|
0.68 |
|
|
|
|
|
|
0.60 |
|
||||
Net interest margin |
|
|
|
|
|
6.88 |
% |
|
|
|
|
|
6.63 |
% |
||||
CAPITAL ONE FINANCIAL CORPORATION (COF) Table 7: Loan Information and Performance Statistics |
||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2024 Q4 |
|
Year Ended December 31, |
||||||||||||||||
|
|
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 vs.
|
||||||||||
(Dollars in millions, except as noted) |
|
Q4 |
|
Q3 |
|
Q2 |
|
Q1 |
|
Q4 |
|
Q3 |
|
Q4 |
||||||||||||||||
Loans Held for Investment (Period-End) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Credit card: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Domestic credit card |
|
$ |
155,618 |
|
$ |
149,400 |
|
$ |
147,065 |
|
$ |
143,861 |
|
$ |
147,666 |
|
4 |
% |
|
5 |
% |
|
$ |
155,618 |
|
$ |
147,666 |
|
5 |
% |
International card businesses |
|
|
6,890 |
|
|
7,251 |
|
|
6,830 |
|
|
6,733 |
|
|
6,881 |
|
(5 |
) |
|
— |
|
|
|
6,890 |
|
|
6,881 |
|
— |
|
Total credit card |
|
|
162,508 |
|
|
156,651 |
|
|
153,895 |
|
|
150,594 |
|
|
154,547 |
|
4 |
|
|
5 |
|
|
|
162,508 |
|
|
154,547 |
|
5 |
|
Consumer banking: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Auto |
|
|
76,829 |
|
|
75,505 |
|
|
74,385 |
|
|
73,801 |
|
|
74,075 |
|
2 |
|
|
4 |
|
|
|
76,829 |
|
|
74,075 |
|
4 |
|
Retail banking |
|
|
1,263 |
|
|
1,253 |
|
|
1,278 |
|
|
1,298 |
|
|
1,362 |
|
1 |
|
|
(7 |
) |
|
|
1,263 |
|
|
1,362 |
|
(7 |
) |
Total consumer banking |
|
|
78,092 |
|
|
76,758 |
|
|
75,663 |
|
|
75,099 |
|
|
75,437 |
|
2 |
|
|
4 |
|
|
|
78,092 |
|
|
75,437 |
|
4 |
|
Commercial banking: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial and multifamily real estate |
|
|
31,903 |
|
|
32,199 |
|
|
32,832 |
|
|
34,272 |
|
|
34,446 |
|
(1 |
) |
|
(7 |
) |
|
|
31,903 |
|
|
34,446 |
|
(7 |
) |
Commercial and industrial |
|
|
55,272 |
|
|
54,635 |
|
|
55,796 |
|
|
55,189 |
|
|
56,042 |
|
1 |
|
|