Capital One 1996 Annual Report Download - page 43

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Capital One 41
Year Ended December 31
(in thousands, except per share data) 1996 1995 1994
Interest Income:
Consumer loans, including fees $592,088 $397,654 $255,115
Federal funds sold 21,293 26,832 2,483
Other 47,102 32,923 1,074
Total interest income 660,483 457,409 258,672
Interest Expense:
Deposits 56,272 49,547 2,364
Short-term borrowings 28,509 66,214 91,278
Senior and deposit notes 210,218 133,635 53
Total interest expense 294,999 249,396 93,695
Net interest income 365,484 208,013 164,977
Provision for loan losses 167,246 65,895 30,727
Net interest income after provision for loan losses 198,238 142,118 134,250
Non-Interest Income:
Servicing 459,833 409,927 312,108
Service charges 218,988 86,029 46,083
Interchange 51,399 33,457 25,580
Other 33,204 23,630 13,131
Total non-interest income 763,424 553,043 396,902
Non-Interest Expense:
Salaries and associate benefits 215,155 135,833 94,739
Solicitation 206,620 146,810 100,886
Communications and data processing 76,841 61,508 70,084
Supplies and equipment 60,053 42,081 21,794
Occupancy 22,330 13,655 6,746
Contract termination 49,000
Other 132,183 97,543 41,076
Total non-interest expense 713,182 497,430 384,325
Income before income taxes 248,480 197,731 146,827
Income taxes 93,213 71,220 51,564
Net income $155,267 $126,511 $ 95,263
Earnings per share $ 2.30 $ 1.90 $ 1.44
Dividends paid per share $ .32 $ .24
Weighted average common and common equivalent
shares outstanding 67,588 66,593 66,067
See notes to consolidated financial statements.
Consolidated Statements of Income