Capital One 1998 Annual Report Download - page 25

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23 Capital One Financial Corporation
Table 4: Statements of Average Balances, Income and Expense, Yields and Rates
Year Ended December 31
1998 1997 1996
Average Income / Yield / Average Income/ Yield/ Average Income/ Yield/
(Dollars in Thousands) Balance Expense Rate Balance Expense Rate Balance Expense Rate
Assets:
Earning assets
Consumer loans(1) $5,348,559 $1,003,122 18.75% $4,103,036 $619,785 15.11% $3,651,908 $592,088 16.21%
Federal funds sold and
resale agreements 231,312 12,564 5.43 293,119 16,423 5.60 394,939 21,293 5.39
Other 1,645,964 95,850 5.82 1,357,842 81,777 6.02 752,140 47,102 6.26
Total earning assets 7,225,835 $1,111,536 15.38% 5,753,997 $717,985 12.48% 4,798,987 $660,483 13.76%
Cash and due from banks 4,385 (2,636) 40,698
Allowance for loan losses (214,333) (132,728) (83,573)
Premises and equipment, net 201,173 181,610 156,441
Other 1,113,372 768,694 656,407
Total assets $8,330,432 $6,568,937 $5,568,960
Liabilities and Stockholders’ Equity:
Interest-bearing liabilities
Deposits $1,430,042 $ 67,479 4.72% $ 958,885 $ 41,932 4.37% $1,046,122 $ 56,272 5.38%
Other borrowings 1,376,156 88,600 6.44 631,876 39,066 6.18 454,899 28,509 6.27
Senior and deposit notes 3,787,639 260,675 6.88 3,718,988 253,849 6.83 3,168,205 210,218 6.64
Total interest-bearing
liabilities 6,593,837 $ 416,754 6.32% 5,309,749 $334,847 6.31% 4,669,226 $294,999 6.32%
Other 550,819 345,582 222,975
Total liabilities 7,144,656 5,655,331 4,892,201
Preferred beneficial interests 97,793 89,529
Stockholders’ equity 1,087,983 824,077 676,759
Total liabilities and
stockholders’ equity $8,330,432 $6,568,937 $5,568,960
Net interest spread 9.06% 6.17% 7.44%
Interest income to average
earning assets 15.38 12.48 13.76
Interest expense to average
earning assets 5.76 5.82 6.14
Net interest margin 9.62% 6.66% 7.62%
(1) Interest income includes past-due fees on loans of approximately $301,979, $132,297 and $94,393 for the years ended December 31, 1998, 1997 and 1996, respectively.
Table 4 provides average balance sheet data, an analysis of net interest income, net interest spread (the difference between the yield
on earning assets and the cost of interest-bearing liabilities) and net interest margin for each of the years ended December 31, 1998,
1997 and 1996.