Capital One 2000 Annual Report Download - page 25

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Five-Year
Year Ended December 31 Compound
(Dollars in Thousands, Except Per Share Data) 2000 1999 1998 1997 1996 Growth Rate
INCOME STATEMENT DATA:
Interest income $ 2,389,902 $ 1,593,484 $ 1,111,536 $ 717,985 $ 660,483 39.19%
Interest expense 801,017 540,882 424,284 341,849 294,999 26.28
Net interest income 1,588,885 1,052,602 687,252 376,136 365,484 50.18
Provision for loan losses 718,170 382,948 267,028 262,837 167,246 61.24
Net interest income
after provision for loan losses 870,715 669,654 420,224 113,299 198,238 43.70%
Non-interest income 3,034,416 2,372,359 1,488,283 1,069,130 763,424 40.56
Non-interest expense 3,147,657 2,464,996 1,464,586 876,976 713,182 44.63
Income before income taxes 757,474 577,017 443,921 305,453 248,480 30.82
Income taxes 287,840 213,926 168,690 116,072 93,213 32.22
Net income $ 469,634 $ 363,091 $ 275,231 $ 189,381 $ 155,267 29.99
Dividend payout ratio 4.43% 5.69% 7.46% 10.90% 13.24%
PER COMMON SHARE:
Basic earnings $ 2.39 $ 1.84 $ 1.40 $ .96 $ .78 30.15%
Diluted earnings 2.24 1.72 1.32 .93 .77 28.47
Dividends .11 .11 .11 .11 .11
Book value as of year-end 9.94 7.69 6.45 4.55 3.72
Average common shares 196,477,624 197,593,371 196,768,929 198,209,691 198,682,893
Average common and
common equivalent shares 209,448,697 210,682,740 208,765,296 202,952,592 201,075,699
SELECTED AVERAGE BALANCES:
Securities $ 1,764,257 $ 2,027,051 $ 1,877,276 $ 1,650,961 $ 1,147,079 12.88%
Allowance for loan losses (402,208) (269,375) (214,333) (132,728) (83,573) 41.89
Total assets 15,209,585 11,085,013 8,330,432 6,568,937 5,568,960 27.95
Interest-bearing deposits 5,339,474 2,760,536 1,430,042 958,885 1,046,122 47.31
Borrowings 6,870,038 6,078,480 5,261,588 4,440,393 3,623,104 18.40
Stockholders’ equity 1,700,973 1,407,899 1,087,983 824,077 676,759 25.64
SELECTED YEAR-END BALANCES:
Securities $ 1,859,029 $ 1,968,853 $ 2,080,980 $ 1,475,354 $ 1,358,103
Consumer loans 15,112,712 9,913,549 6,157,111 4,861,687 4,343,902
Allowance for loan losses (527,000) (342,000) (231,000) (183,000) (118,500)
Total assets 18,889,341 13,336,443 9,419,403 7,078,279 6,467,445
Interest-bearing deposits 8,379,025 3,783,809 1,999,979 1,313,654 943,022
Borrowings 6,976,535 6,961,014 5,481,593 4,526,550 4,525,216
Stockholders’ equity 1,962,514 1,515,607 1,270,406 893,259 740,391
MANAGED CONSUMER LOAN DATA:
Average reported loans $ 11,487,776 $ 7,667,355 $ 5,348,559 $ 4,103,036 $ 3,651,908 31.33%
Average off-balance sheet loans 11,147,086 10,379,558 9,860,978 8,904,146 7,616,553 12.63
Average total managed loans 22,634,862 18,046,913 15,209,537 13,007,182 11,268,461 20.02
Interest income 4,034,882 3,174,057 2,583,872 2,045,967 1,662,990 27.62
Year-end total managed loans 29,524,026 20,236,588 17,395,126 14,231,015 12,803,969 23.10
Year-end total accounts (000s) 33,774 23,705 16,706 11,747 8,586 40.59
Yield 17.83% 17.59% 16.99% 15.73% 14.76%
Net interest margin 10.71 10.83 9.91 8.81 8.16
Delinquency rate 5.23 5.23 4.70 6.20 6.24
Net charge-off rate 3.90 3.85 5.33 6.59 4.24
OPERATING RATIOS:
Return on average assets 3.09% 3.28% 3.30% 2.88% 2.79%
Return on average equity 27.61 25.79 25.30 22.98 22.94
Equity to assets (average) 11.18 12.70 13.06 12.55 12.15
Allowance for loan losses
to loans as of year-end 3.49 3.45 3.75 3.76 2.73
selected financial and operating data 23
Selected Financial and Operating Data