Capital One 1998 Annual Report Download - page 41

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Year Ended December 31
(In Thousands, Except Per Share Data) 1998 1997 1996
Interest Income:
Consumer loans, including fees $1,003,122 $ 619,785 $ 592,088
Federal funds sold and resale agreements 12,564 16,423 21,293
Other 95,850 81,777 47,102
Total interest income 1,111,536 717,985 660,483
Interest Expense:
Deposits 67,479 41,932 56,272
Other borrowings 88,600 39,066 28,509
Senior and deposit notes 260,675 253,849 210,218
Total interest expense 416,754 334,847 294,999
Net interest income 694,782 383,138 365,484
Provision for loan losses 267,028 262,837 167,246
Net interest income after provision for loan losses 427,754 120,301 198,238
Non-Interest Income:
Servicing and securitizations 789,844 682,345 459,833
Service charges and other fees 611,958 337,755 252,192
Interchange 86,481 49,030 51,399
Total non-interest income 1,488,283 1,069,130 763,424
Non-Interest Expense:
Salaries and associate beneļ¬ts 476,389 289,322 215,155
Marketing 446,264 224,819 206,620
Communications and data processing 150,220 98,135 76,841
Supplies and equipment 112,101 82,874 60,053
Occupancy 45,337 37,548 22,330
Other 241,805 151,280 132,183
Total non-interest expense 1,472,116 883,978 713,182
Income before income taxes 443,921 305,453 248,480
Income taxes 168,690 116,072 93,213
Net income $ 275,231 $ 189,381 $ 155,267
Basic earnings per share $ 4.20 $ 2.87 $ 2.34
Diluted earnings per share $ 3.96 $ 2.80 $ 2.32
Dividends paid per share $ .32 $ .32 $ .32
See Notes to Consolidated Financial Statements.
39 Capital One Financial Corporation
Consolidated Statements of Income