Capital One 2014 Annual Report Download - page 24

Acquisitions in 2013
On November 1, 2013, we acquired Beech Street Capital, a privately-held, national originator and servicer of
Federal National Mortgage Association (“Fannie Mae”), the Federal Home Loan Mortgage Corporation (“Freddie
Mac”) and Federal Housing Authority (“FHA”) multifamily commercial real estate loans. The acquisition expands
and enhances our existing multifamily capabilities and product offerings. At closing, we acquired a mortgage
servicing portfolio on approximately $10 billion of loans. Beech Street Capital was renamed Capital One
Multifamily Finance in 2014.
Dispositions in 2013
On September 6, 2013, we completed the sale of the Best Buy private label and co-branded credit card portfolio to
Citibank, N.A (“Portfolio Sale”). Pursuant to the agreement with Citibank, N.A., we received $6.4 billion for the
net portfolio assets.
Additional Information
Our common stock trades on the New York Stock Exchange (“NYSE”) under the symbol “COF” and is included in
the Standard & Poor’s (“S&P”) 100 Index. As of January 30, 2015, there were 12,610 holders of record of our
common stock. Our principal executive office is located at 1680 Capital One Drive, McLean, Virginia 22102,
telephone number [phone]. We maintain a website at www.capitalone.com. Documents available on our
website include: (i) our Code of Business Conduct and Ethics for the Corporation; (ii) our Corporate Governance
Guidelines; and (iii) charters for the Audit, Risk, Compensation, and Governance and Nominating Committees of
the Board of Directors. These documents also are available in print to any stockholder who requests a copy.
In addition, we make available free of charge through our website our Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports as soon as reasonably
practicable after electronically filing or furnishing such material to the U.S. Securities and Exchange Commission
(“SEC”).
OPERATIONS AND BUSINESS SEGMENTS
Our consolidated total net revenues are derived primarily from lending to consumer and commercial customers net of
funding costs associated with deposits, short-term borrowings and long-term debt. We also earn non-interest income
which primarily consists of interchange income net of reward expenses and service charges and other customer-
related fees. Our expenses primarily consist of the provision for credit losses, operating expenses (including salaries
and associate benefits, occupancy and equipment costs, professional services, communication and data processing
expenses and other miscellaneous expenses), marketing expenses and income taxes.
Our principal operations are currently organized for management reporting purposes into three primary business
segments, which are defined primarily based on the products and services provided or the type of customer served:
Credit Card, Consumer Banking and Commercial Banking. The operations of acquired businesses have been
integrated into our existing business segments. Certain activities that are not part of a segment, such as management
of our corporate investment portfolio and asset/liability management by our centralized Corporate Treasury group,
are included in the Other category.
•Credit Card: Consists of our domestic consumer and small business card lending, and the international card
lending businesses in Canada and the United Kingdom.
•Consumer Banking: Consists of our branch-based lending and deposit gathering activities for consumers and
small businesses, national deposit gathering, national auto lending and consumer home loan lending and
servicing activities.
2Capital One Financial Corporation (COF)