Capital One 2014 Annual Report Download - page 90
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Table 8 summarizes the financial results of our Commercial Banking business and displays selected key metrics for
the periods indicated.
Table 8: Commercial Banking Business Results(1)
Change
Year Ended December 31, 2014 vs. 2013 vs.
(Dollars in millions) 2014 2013 2012 2013 2012
Selected income statement data:
Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,751 $ 1,674 $ 1,551 5% 8%
Non-interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 450 395 340 14 16
Total net revenue
(2)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,201 2,069 1,891 6 9
Provision (benefit) for credit losses . . . . . . . . . . . . . . . . . . 93 (24) (270) ** (91)
Non-interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,083 958 910 13 5
Income from continuing operations before income taxes . . 1,025 1,135 1,251 (10) (9)
Income tax provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 366 404 441 (9) (8)
Income from continuing operations, net of tax . . . . . . . . . . $ 659 $ 731 $ 810 (10) (10)
Selected performance metrics:
Average loans held for investment:
(3)
Commercial and multifamily real estate . . . . . . . . . . . . . $22,003 $18,636 $16,256 18% 15%
Commercial and industrial . . . . . . . . . . . . . . . . . . . . . . . 25,028 21,062 18,304 19 15
Total commercial lending . . . . . . . . . . . . . . . . . . . . . . 47,031 39,698 34,560 18 15
Small-ticket commercial real estate . . . . . . . . . . . . . . . . 868 1,073 1,353 (19) (21)
Total commercial banking . . . . . . . . . . . . . . . . . . . . . . . . . . $47,899 $40,771 $35,913 17 14
Average yield on loans held for investment(2) . . . . . . . . . . . 3.42% 3.88% 4.25% (46) bps (37) bps
Average deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $31,752 $30,702 $28,266 3% 9%
Average deposit interest rate . . . . . . . . . . . . . . . . . . . . . . . . 0.24% 0.27% 0.32% (3) bps (5) bps
Core deposit intangible amortization . . . . . . . . . . . . . . . . . $ 21 $ 27 $ 34 (22)% (21)%
Net charge-offs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 14 42 (29) (67)
Net charge-off rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.02% 0.03% 0.12% (1) bps (9) bps
68 Capital One Financial Corporation (COF)