Capital One Reports Fourth Quarter 2012 Net Income of $843 million, or $1.41 per share

 Capital One Reports Fourth Quarter 2012 Net Income of $843 million, or $1.41
                                  per share

Earnings for full year 2012 were $3.5 billion, or $6.16 per share

PR Newswire

MCLEAN, Va., Jan. 17, 2013

MCLEAN, Va., Jan. 17, 2013 /PRNewswire/ --Capital One Financial Corporation
(NYSE: COF) today announced net income for the full year 2012 of $3.5 billion,
or $6.16 per diluted common share, compared with net income of $3.1 billion,
or $6.80 per diluted common share, for 2011. Results for 2012 reflect the
impacts of acquisition-related accounting and an increase in the number of
shares outstanding. Net income for the fourth quarter of 2012 was $843
million, or $1.41 per diluted common share, compared with net income of $1.2
billion, or $2.01 per diluted common share, for the third quarter of 2012, and
net income of $407 million, or $0.88 per diluted common share, for the fourth
quarter of 2011.

"Seasonal expense and margin trends led to a reduction in fourth quarter
earnings compared to the previous quarter," said Gary L. Perlin, Capital One's
Chief Financial Officer. "With a few exceptions largely related to these
seasonal patterns, fourth quarter 2012 results give us a good picture of what
to expect in terms of pre-provision earnings in 2013, assuming little change
in the external environment."

The company expects average quarterly revenue levels in 2013 to be consistent
with the fourth quarter of 2012, as a modest decline in earning assets will be
offset by a steady to slightly higher net interest margin. Overall, the
company expects non-interest expense to be, on average, just over $3.1 billion
per quarter, reflecting a modest decline in quarterly expenses relative to
seasonally elevated operating and marketing costs in the fourth quarter of
2012.

"Capital One remains well positioned to deliver sustained shareholder value
through sure-footed execution, substantial capital generation, and disciplined
capital allocation for the benefit of our shareholders," said Richard D.
Fairbank, Chairman and Chief Executive Officer. "As a first step, we expect to
return to a meaningful dividend in 2013, following the completion of the
current CCAR process."

Total Company Results

All comparisons in the following paragraphs are for the fourth quarter of 2012
compared with the third quarter of 2012 unless otherwise noted.

Loans and Deposits

Period-end loans held for investment increased $2.8 billion to $205.9 billion.
Commercial Banking's period-end loans increased $1.6 billion, or 4 percent, to
$38.8 billion, and period-end loans in Auto Finance grew $689 million, or 3
percent, to $27.1 billion due to strong growth in both businesses. Domestic
Card period-end loans increased $2.5 billion as seasonal growth at the end of
the fourth quarter was partially offset by expected run-off in acquired credit
card loans and the continued run-off of installment loans. Period-end loans in
Home Loans decreased $2.2 billion, or 5 percent, to $44.1 billion, driven by
the continued run-off of acquired portfolios.

Average loans in the quarter were essentially flat at $202.9 billion. Average
loans in Commercial Banking grew $831 million and Auto Finance average loans
grew $958 million. Average Domestic Card loan growth of $216 million was
modest compared with the growth in period-end loans reflecting the magnitude
of the increase in period-end loans driven by our partnerships portfolio.
Average Home Loans decreased by $2.0 billion, driven largely by the continued
run-off of acquired portfolios. 

Period-end total deposits decreased $770 million to $212.5 billion, driven by
a reduction in deposits in legacy banking segments. Average deposits in the
quarter were essentially flat and deposit interest rates declined 5 basis
points to 0.72 percent.

Revenues

Total net revenue for the fourth quarter of 2012 was $5.6 billion, a decline
of $158 million, or 3 percent, almost entirely driven by higher levels of
estimated uncollectible finance charges and fees in the company's Domestic
Card business. This was due to seasonally higher levels of finance charge and
fee reversal and a higher portion of the uncollectible finance charges and
fees being recognized as a reduction of net revenue instead of being offset
against the SOP 03-3 credit mark on acquired delinquent non-revolving credit
card loans.

The higher levels of estimated uncollectible finance charges and fees coupled
with a substantial increase in the proportion of lower-yielding cash and
investment securities in anticipation of the call of high coupon trust
securities resulted in a decrease in net interest margin of 45 basis points to
6.52 percent. Cost of funds in the fourth quarter declined 7 basis points to
0.99 percent. 

Non-Interest Expense

Operating expenses were $2.9 billion in the fourth quarter, an increase of
$133 million, or 5 percent, driven by higher year-end expense patterns and
somewhat higher integration expenses. Marketing expense increased $77 million
in the quarter to $393 million.

Provision for Credit Losses

Provision for credit losses was $1.2 billion in the quarter, up $137 million
from the previous quarter, largely caused by an increasingly lower proportion
of charge-offs related to acquired delinquent non-revolving credit card loans
being absorbed by the SOP 03-3 credit mark than was absorbed in the third
quarter and an expected seasonal increase to the underlying Domestic Card
portfolio. 

The net charge-off rate was 2.26 percent in the fourth quarter of 2012, an
increase of 51 basis points from 1.75 percent in the third quarter, largely
because of the diminishing impact of the credit mark discussed above. The net
charge-off rate for Domestic Card increased to 4.35 percent from 3.04 percent,
also driven by seasonality and the diminishing impact of the credit mark
described above. The net charge-off rate for Auto Finance increased 45 basis
points, while the rate for Commercial Banking increased 10 basis points.

Net Income

Net income decreased 28 percent in the fourth quarter driven by lower revenue
and higher non-interest and credit expenses.

Capital Ratios

The company's estimated Tier 1 common ratio was approximately 11.0 percent as
of December 31, 2012, up from 10.7 percent as of September 30, 2012.

Detailed segment information will be available in the company's Annual Report
on Form 10-K for the year ended December 31, 2012.

Earnings Conference Call Webcast Information

The company will hold an earnings conference call on January 17, 2013 at 5:00
PM, Eastern Standard Time. The conference call will be accessible through live
webcast. Interested investors and other individuals can access the webcast via
the company's home page (www.capitalone.com). Choose "Investors" to access the
Investor Center and view and/or download the earnings press release, the
financial supplement, including a reconciliation to GAAP financial measures,
and the earnings release presentation. The replay of the webcast will be
archived on the company's website through January 31, 2013 at 10:00 PM.

Forward-looking Statements

The company cautions that its current expectations in this release dated
January 17, 2013 and the company's plans, objectives, expectations and
intentions, are forward-looking statements which speak only as of the date
hereof. The company does not undertake any obligation to update or revise any
of the information contained herein whether as a result of new information,
future events or otherwise.

Certain statements in this release are forward-looking statements, including
those that discuss, among other things: strategies, goals, outlook or other
non-historical matters; projections, revenues, income, returns, expenses,
capital measures, accruals for claims in litigation and for other claims
against the company, earnings per share or other financial measures for the
company; future financial and operating results; the company's plans,
objectives, expectations and intentions; the projected impact and benefits of
the acquisition of ING Direct and HSBC's U.S. Card business (the
"Transactions"); and the assumptions that underlie these matters. To the
extent that any such information is forward-looking, it is intended to fit
within the safe harbor for forward-looking information provided by the Private
Securities Litigation Reform Act of 1995. Numerous factors could cause the
company's actual results to differ materially from those described in such
forward-looking statements, including, among other things:general economic
and business conditions in the U.S., the U.K., Canada or the company's local
markets, including conditions affecting employment levels, interest rates,
consumer income and confidence, spending and savings that may affect consumer
bankruptcies, defaults, charge-offs and deposit activity; an increase or
decrease in credit losses (including increases due to a worsening of general
economic conditions in the credit environment); financial, legal, regulatory,
tax or accounting changes or actions, including the impact of the Dodd-Frank
Wall Street Reform and Consumer Protection Act and the regulations promulgated
thereunder and regulations governing bank capital and liquidity standards,
including Basel-related initiatives; the possibility that the company may not
fully realize the projected cost savings and other projected benefits of the
Transactions; difficulties and delays in integrating the assets and businesses
acquired in the Transactions; business disruption following the Transactions;
diversion of management time on issues related to the Transactions, including
integration of the assets and businesses acquired; reputational risks and the
reaction of customers and counterparties to the Transactions; disruptions
relating to the Transactions negatively impacting the company's ability to
maintain relationships with customers, employees and suppliers; changes in
asset quality and credit risk as a result of the Transactions; the accuracy of
estimates and assumptions the company uses to determine the fair value of
assets acquired and liabilities assumed in the Transactions; developments,
changes or actions relating to any litigation matter involving the company;
the inability to sustain revenue and earnings growth; increases or decreases
in interest rates; the company's ability to access the capital markets at
attractive rates and terms to capitalize and fund its operations and future
growth; the success of the company's marketing efforts in attracting and
retaining customers; increases or decreases in the company's aggregate loan
balances or the number of customers and the growth rate and composition
thereof, including increases or decreases resulting from factors such as
shifting product mix, amount of actual marketing expenses the company incurs
and attrition of loan balances; the level of future repurchase or
indemnification requests the company may receive, the actual future
performance of mortgage loans relating to such requests, the success rates of
claimants against the company, any developments in litigation and the actual
recoveries the company may make on any collateral relating to claims against
the company; the amount and rate of deposit growth; changes in the reputation
of or expectations regarding the financial servicesindustry or the company
with respect to practices, products or financial condition; any significant
disruption in the company's operations or technology platform; the company's
ability to maintain a compliance infrastructure suitable for the nature of our
business; the company's ability to control costs; the amount of, and rate of
growth in, the company's expenses as its business develops or changes or as it
expands into new market areas; the company's ability to execute on its
strategic and operational plans; any significant disruption of, or loss of
public confidence in, the United States Mail service affecting the company's
response rates and consumer payments; the company's ability to recruit and
retain experienced personnel to assist in the management and operations of new
products and services; changes in the labor and employment markets; fraud or
misconduct by the company's customers, employees or business partners;
competition from providers of products and services that compete with the
company's businesses; and other risk factors set forth from time to time in
reports that the company files with the Securities and Exchange Commission,
including, but not limited to, the Annual Report on Form 10-K for the year
ended December 31, 2011.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding
company whose subsidiaries, which include Capital One, N.A., and Capital One
Bank (USA), N. A., had $212.5 billion in deposits and $312.9 billion in total
assets outstanding as of December 31, 2012. Headquartered in McLean, Virginia,
Capital One offers a broad spectrum of financial products and services to
consumers, small businesses and commercial clients through a variety of
channels. Capital One, N.A. has more than 900 branch locations primarily in
New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of
Columbia. ING DIRECT, a division of Capital One, N.A., offers direct banking
products and services to customers nationwide. A Fortune 500 company, Capital
One trades on the New York Stock Exchange under the symbol "COF" and is
included in the S&P 100 index.





                                                               Exhibit 99.2
Capital One Financial Corporation
Financial Supplement
 Fourth Quarter 2012 ^(1) (2)
 Table of Contents
                                                               Page
Capital One Financial Corporation Consolidated
     Table 1:          Financial & Statistical            1
                            Summary―Consolidated
     Table 2:             Consolidated Statements of Income  2
     Table 3:             Consolidated Balance Sheets        3
                            Notes to Consolidated Financial
     Table 4:             Statements & Statistical Summary   4
                            (Tables 1-3)
     Table 5:             Average Balances, Net Interest     5
                            Income and Net Interest Margin
     Table 6:             Loan Information and Performance   6
                            Statistics
                            Loan Information and Performance
     Table 7:             Statistics (Excluding Acquired     7
                            Loans) ^(3)
Business Segment Detail
     Table 8:             Financial & Statistical            8
                            Summary―Credit Card Business
     Table 9:             Financial & Statistical            9
                            Summary―Consumer Banking Business
                            Financial & Statistical
     Table 10:              Summary―Commercial Banking         10
                            Business
     Table 11:              Financial & Statistical            11
                            Summary―Other and Total
     Table 12:              Notes to Loan and Business Segment 12
                            Disclosures (Tables 6 —11)
Other
                            Reconciliation of Non-GAAP
     Table 13:              Measures and Calculation of        13
                            Regulatory Capital Measures
     The information contained in this Financial Supplement is preliminary and
^(1) based on data available at the time of the earnings presentation, and
     investors should refer to our December 31, 2012 Annual Report on Form
     10-K once it is filed with the Securities and Exchange Commission.
     References to ING Direct refer to the business and assets acquired and
     liabilities assumed in the February 17, 2012 acquisition. References to
^(2) HSBC refer to the May 1, 2012 transaction in which we acquired
     substantially all of HSBC's credit card and private-label credit card
     business in the United States ("HSBC U.S. card").
     We use the term "acquired loans" to refer to a limited portion of the
     credit card loans acquired in the HSBC U.S. card acquisition and the
     substantial majority of loans acquired in the ING Direct and Chevy Chase
     Bank ("CCB") acquisitions, which were recorded at fair value at
     acquisition and subsequently accounted for based on estimated cash flows
     expected to be collected over the life of the loans (under the accounting
     standard formerly known as "SOP 03-3"). Because SOP 03-3 takes into
     consideration future credit losses expected to be incurred over the life
^(3) of the loans, there are no charge-offs or an allowance associated with
     these loans unless the estimated cash flows expected to be collected
     decrease subsequent to acquisition. In addition, these loans are not
     classified as delinquent or nonperforming even though the customer may be
     contractually past due because we expect that we will fully collect the
     carrying value of these loans. The accounting and classification of these
     loans may significantly alter some of our reported credit quality
     metrics. We therefore supplement certain reported credit quality metrics
     with metrics adjusted to exclude the impact of these acquired loans.

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 1: Financial & Statistical
Summary—Consolidated ^(1)(2)(3)
(Dollars in millions, except     2012            2012            2011
per share data and as noted)                                     Q4
(unaudited)                      Q4              Q3
Earnings
Net interest income              $          $          $     
                                 4,528          4,646           3,182
Non-interest income^(4) (5)      1,096           1,136           868
Total net revenue^(6)            5,624           5,782           4,050
Provision for credit losses      1,151           1,014           861
Marketing expenses               393             316             420
Operating expenses^(7)           2,862           2,729           2,198
Income from continuing           1,218           1,723           571
operations before income taxes
Income tax provision             370             535             160
Income from continuing           848             1,188           411
operations, net of tax
Loss from discontinued           (5)             (10)            (4)
operations, net of tax^(4)
Net income                       843             1,178           407
Dividends and undistributed
earnings allocated to            (3)             (5)             (26)
participating securities ^(8)
Preferred stock dividends        (15)            —               —
Net income available to common   $         $          $     
stockholders                     825            1,173             381
Common Share Statistics
Basic EPS:^(8)
 Income from continuing        $         $         $     
operations, net of tax           1.43            2.05              0.89
 Loss from discontinued        (0.01)          (0.02)          (0.01)
operations, net of tax
 Net income per common share  $         $         $     
                                 1.42            2.03              0.88
Diluted EPS:^(8)^
 Income from continuing        $         $         $     
operations, net of tax           1.42            2.03              0.89
 Loss from discontinued        (0.01)          (0.02)          (0.01)
operations, net of tax
 Net income per common share   $         $         $     
                                 1.41            2.01              0.88
Weighted average common shares
outstanding (in millions):
 Basic EPS                     579.2           578.3           456.2
 Diluted EPS                   585.6           584.1           458.5
Common shares outstanding        582.2           581.3           459.9
(period end, in millions)
Dividends per common share       $         $         $     
                                 0.05            0.05              0.05
Tangible book value per common   40.23           38.70           34.26
share (period end)^(9) (26)
Balance Sheet (Period End)
Loans held for investment^(10)   $            $            $     
                                 205,889        203,132        135,892
Interest-earning assets          280,096         270,661         179,878
Total assets                     312,918         301,989         206,019
Interest-bearing deposits        190,018         192,488         109,945
Total deposits                   212,485         213,255         128,226
Borrowings                       49,910          38,377          39,561
Stockholders' equity             40,499          39,672          29,666
Balance Sheet (Quarterly
Average Balances)
Average loans held for           $            $            $     
investment^(10)                  202,944        202,856        131,581
Average interest-earning assets  277,886         266,803         176,271
Average total assets             308,096         297,154         200,106
Average interest-bearing         192,122         193,700         109,914
deposits
Average total deposits           213,494         213,323         128,450
Average borrowings               44,189          36,451          34,811
Average stockholders' equity     40,212          38,535          29,698
Performance Metrics
Net interest income growth       (3)           % 16            % (3)         %
(quarter over quarter)^
Non-interest income              (4)             8               —
growth(quarter over quarter)
Total net revenue                (3)             14              (3)
growth(quarter over quarter)
Total net revenue margin^(11)    8.10            8.67            9.19
Net interest margin^(12)         6.52            6.97            7.22
Return on average assets^(13)    1.10            1.60            0.82
Return on average total          8.44            12.33           5.54
stockholders' equity^(14)
Return on average tangible       14.74           21.93           10.43
common equity^(15) (26)
Non-interest expense as a % of
average loans held for           6.42            6.00            7.96
investment^(16)
Efficiency ratio^(17)            57.88           52.66           64.64
Effective income tax rate        30.4            31.1            28.0
Full-time equivalent employees   39.6            37.6            30.5
(in thousands), period end
Credit Quality Metrics^(10)
(18)
Allowance for loan and lease     $          $          $     
losses                          5,156          5,154           4,250
Allowance as a % of loans held   2.50          % 2.54          % 3.13        %
for investment^
Allowance as a % of loans held
for investment (excluding        3.02            3.11            3.22
acquired loans)
Net charge-offs                 $          $         $     
                                 1,150          887               884
Net charge-off rate^(19)         2.26          % 1.75          % 2.69        %
Net charge-off rate (excluding   2.78            2.18            2.79
acquired loans)^(19)
30+ day performing delinquency   2.70            2.54            3.35
rate
30+ day performing delinquency   3.29            3.15            3.47
rate (excluding acquired loans)
30+ day delinquency rate^(20)   **              2.92            3.95
30+ day delinquency rate
(excluding acquired              **              3.62            4.09
loans)^(20)
Capital Ratios ^(21)
Tier 1 common ratio^(22)         11.0          % 10.7          % 9.7         %
Tier 1 risk-based capital        11.4            12.7            12.0
ratio^(23)
Total risk-based capital         13.6            15.0            14.9
ratio^(24)
Tangible common equity ("TCE")   7.9             7.9             8.2
ratio^(25) (26)



CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 2: Consolidated Statements of Income
^(1)(2)(3)
                           Three Months Ended                 Year Ended
                           December   September   December    December 31,
                           31,        30,         31,
(Dollars in millions,
except per share data)     2012       2012        2011        2012     2011
(unaudited)
Interest income:
                           $      $       $       $     $   
Loans held for investment             4,901                    
                           4,726                 3,440      17,537  13,774
Investment securities      361        335         244         1,329    1,137
Other                      28         18          17          98       76
      Total interest       5,115      5,254       3,701       18,964   14,987
      income
Interest expense:
Deposits                   348        371         264         1,403    1,187
Securitized debt           58         64          80          271      422
obligations
Senior and subordinated    85         85          89          345      300
notes
Other borrowings           96         88          86          356      337
      Total interest       587        608         519         2,375    2,246
      expense
Net interest income        4,528      4,646       3,182       16,589   12,741
Provision for credit       1,151      1,014       861         4,415    2,360
losses
      Net interest income
      after provision for  3,377      3,632       2,321       12,174   10,381
      credit losses
Non-interest income:
Service charges and other  595        557         452         2,106    1,979
customer-related fees
Interchange fees, net      459        452         346         1,647    1,318
Net other-than-temporary
impairment losses          (12)       (13)        (6)         (52)     (21)
recognized in earnings
Bargain purchase gain      —          —           —           594      —
^(5)
Other ^(4)                 54         140         76          512      262
      Total non-interest   1,096      1,136       868         4,807    3,538
      income
Non-interest expense:
Salaries and associate     1,039      1,002       817         3,876    3,023
benefits
Occupancy and equipment    384        354         268         1,331    1,029
Marketing                  393        316         420         1,364    1,337
Professional services      362        307         366         1,270    1,198
Communications and data    205        198         177         778      681
processing
Amortization of            190        197         51          604      216
intangibles ^(7)
Merger-related expense ^   69         48          27          336      45
(7)
Other                      613        623         492         2,387    1,803
      Total non-interest   3,255      3,045       2,618       11,946   9,332
      expense
Income from continuing
operations before income   1,218      1,723       571         5,035    4,587
taxes
Income tax provision       370        535         160         1,301    1,334
Income from continuing     848        1,188       411         3,734    3,253
operations, net of tax
Loss from discontinued
operations, net of tax     (5)        (10)        (4)         (217)    (106)
^(4)
      Net income           843        1,178       407         3,517    3,147
Dividends and
undistributed earnings
allocated to               (3)        (5)         (26)        (15)     (26)
participating securities
^(8)
Preferred stock dividends  (15)       —           —           (15)     —
      Net income           $      $       $       $     $   
      available to common           1,173                  
      stockholders         825                    381         3,487   3,121
Basic earnings per common
share: ^(8)
      Income from          $      $       $       $     $   
      continuing                                             
      operations           1.43      2.05       0.89       6.60    7.08
      Loss from
      discontinued         (0.01)     (0.02)      (0.01)      (0.39)   (0.23)
      operations
      Net income per       $      $       $       $     $   
      basic common share                                     
                           1.42      2.03       0.88       6.21    6.85
Diluted earnings per
common share: ^(8)
      Income from          $      $       $       $     $   
      continuing                                             
      operations           1.42      2.03       0.89       6.54    7.03
      Loss from
      discontinued         (0.01)     (0.02)      (0.01)      (0.38)   (0.23)
      operations
      Net income per       $      $       $       $     $   
      diluted common                                         
      share                1.41      2.01       0.88       6.16    6.80
Weighted average common
shares outstanding (in
millions):
      Basic EPS            579.2      578.3       456.2       561.1    455.5
      Diluted EPS          585.6      584.1       458.5       566.5    459.1
Dividends paid per common  $      $       $       $     $   
share                                                        
                           0.05      0.05       0.05       0.20    0.20



CAPITAL ONE FINANCIAL CORPORATION
(COF)
Table 3: Consolidated Balance
Sheets
                                      December 31,  September 30,  December
                                                                   31,
(Dollars in millions)(unaudited)      2012          2012           2011
Assets:
Cash and due from banks               $        $        $     
                                       3,440       1,855           2,097
Interest-bearing deposits with banks  7,617         3,860          3,399
Federal funds sold and securities     1             254            342
purchased under agreements to resell
   Cash and cash equivalents          11,058        5,969          5,838
Restricted cash for securitization    428           760            791
investors
Securities available for sale, at     63,979        61,464         38,759
fair value
Loans held for investment:
   Unsecuritized loans held for       163,341       159,219        88,242
   investment
   Restricted loans for               42,548        43,913         47,650
   securitization investors
   Total loans held for investment    205,889       203,132        135,892
    Less: Allowance for loan and   (5,156)       (5,154)        (4,250)
   lease losses
   Net loans held for investment      200,733       197,978        131,642
Loans held for sale, at               201           187            201
lower-of-cost-or-fair-value
Premises and equipment, net           3,587         3,519          2,748
Interest receivable                   1,694         1,614          1,029
Goodwill                              13,904        13,901         13,592
Other                                 17,334        16,597         11,419
   Total assets                       $         $          $    
                                      312,918       301,989        206,019
Liabilities:
Interest payable                      $        $        $     
                                        450       368           466
Customer deposits:
   Non-interest bearing deposits      22,467        20,767         18,281
   Interest-bearing deposits          190,018       192,488        109,945
   Total customer deposits            212,485       213,255        128,226
Securitized debt obligations          11,398        12,686         16,527
Other debt:
   Federal funds purchased and
   securities loaned or sold under    1,248         967            1,464
   agreements to repurchase
   Senior and subordinated notes      12,686        11,756         11,034
   Other borrowings                   24,578        12,968         10,536
   Total other debt                   38,512        25,691         23,034
Other liabilities                     9,574         10,317         8,100
   Total liabilities                  272,419       262,317        176,353
Stockholders' equity:
Preferred stock                       853           853            —
Common stock                          6             6              5
Paid-in capital, net                  25,335        25,265         19,274
Retained earnings and accumulated     17,592        16,835         13,631
other comprehensive income
Treasury stock, at cost               (3,287)       (3,287)        (3,244)
   Total stockholders' equity         40,499        39,672         29,666
   Total liabilities and              $         $          $    
   stockholders' equity               312,918       301,989        206,019



CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 4: Notes to Consolidated Financial Statements &
Statistical Summary (Tables 1-3)
^(1)     Certain prior period amounts have been reclassified to conform to
         the current period presentation.
         Results for Q2 2012 and thereafter include the impact of the May
^(2)     1, 2012 closing of the HSBC transaction, which resulted in the
         addition of approximately $28.2 billion in credit card receivables
         at closing.
         Results for Q1 2012 and thereafter include the impact of the
^(3)     February 17, 2012 acquisition of ING Direct, which resulted in the
         addition of loans of $40.4 billion, other assets of $53.9 billion
         and deposits of $84.4 billion at acquisition.
         We did not record a provision for mortgage representation and
         warranty losses in Q4 or Q3 2012. We recorded a provision for
         mortgage representation and warranty losses of $59 million in Q4
         2011. The majority of the provision for representation and warranty
^(4)     losses is generally included net of tax in discontinued operations,
         with the remaining amount included pre-tax in non-interest income.
         The mortgage representation and warranty reserve decreased to $899
         million as of December 31, 2012, from $919 million as of September
         30, 2012, due to the settlement of claims in Q4 2012 totaling $20
         million.
         Includes a bargain purchase gain of $594 million recognized in
         earnings in Q1 2012 attributable to the February 17, 2012
^(5)     acquisition of ING Direct. Represents the excess of the fair value
         of the net assets acquired in the ING Direct acquisition as of the
         acquisition date of February 17, 2012 over the consideration
         transferred.
         Total net revenue was reduced by $318 million in Q4 2012, $185
         million in Q3 2012 and $130 million in Q4 2011, for the estimated
^(6)     uncollectible amount of billed finance charges and fees. Premium
         amortization related to the ING Direct and HSBC U.S. card
         acquisitions reduced revenue by $124 million in Q4 2012 and $133
         million in Q3 2012.
         Includes merger-related expenses, including transaction costs,
         attributable to acquisitions of $69 million in Q4 2012, $48 million
         in Q3 2012, and $27 million in Q4 2011. Also includes intangible
         amortization expense related to purchased credit card relationships
^(7)     ("PCCR") from the HSBC U.S. card acquisition of $122 million in Q4
         2012 and $127 million in Q3 2012. Other asset and intangible
         amortization expense related to the ING Direct and HSBC U.S. Card
         acquisitions totaled $48 million in Q4 2012 and $42 million in Q3
         2012.
         Dividends and undistributed earnings allocated to
^(8)     participating securities and EPS are computed independently
         for each period. Accordingly, the sum of each quarter may not
         agree to the year-to-date total.
         Tangible book value per common share is a non-GAAP measure calculated
^(9)     based on tangible common equity divided by common shares outstanding.
         See "Table 13: Reconciliation of Non-GAAP Measures and Calculation of
         Regulatory Capital Measures" for additional information.
         See "Table 12: Notes to Loan and Business Segment Disclosures (Tables
^(10)    6 -11)" for information on acquired loans accounted for based on
         estimated cash flows expected to be collected.
^(11)    Calculated based on annualized total net revenue for the period
         divided by average interest-earning assets for the period.
^(12)    Calculated based on annualized net interest income for the period
         divided by average interest-earning assets for the period.
         Calculated based on annualized income from continuing operations, net
^(13)    of tax, for the period divided by average total assets for the
         period.
         Calculated based on annualized income from continuing operations, net
^(14)    of tax, for the period divided by average stockholders' equity for
         the period.
         Calculated based on annualized income from continuing operations, net
         of tax, for the period divided by average tangible common equity for
^(15)    the period. See "Table 13: Reconciliation of Non-GAAP Measures and
         Calculation of Regulatory Capital Measures" for additional
         information.
^(16)    Calculated based on annualized non-interest expense for the period
         divided by average loans held for investment for the period.
         Calculated based on non-interest expense, excluding goodwill
^(17)    impairment charges, for the period divided by total net revenue for
         the period.
         Loans acquired as part of the CCB, ING Direct and HSBC U.S. card
         acquisitions classified as held for investment are included in the
         denominator used in calculating our reported credit quality metrics.
^(18)    We supplement certain reported credit quality metrics with metrics
         adjusted to exclude from the denominator acquired loans accounted for
         based on estimated expected cash flows to be collected (formerly SOP
         03-3). See "Table 7: Loan Information and Performance Statistics
         (Excluding Acquired Loans)" for additional information.
^(19)    Calculated based on annualized net charge-offs for the period divided
         by average loans held for investment for the period.
         The 30+ day total delinquency rate as of the end of Q4 2012 will be
^(20)    provided in the Annual Report on Form 10-K for the year ended
         December 31, 2012 .
^(21)    Regulatory capital ratios as of the end of Q4 2012 are
         preliminary and therefore subject to change.
         Tier 1 common ratio is a regulatory capital measure calculated based
^(22)    on Tier 1 common capital divided by risk-weighted assets. See "Table
         13: Reconciliation of Non-GAAP Measures and Calculation of Regulatory
         Capital Measures" for additional information.
         Tier 1 risk-based capital ratio is a regulatory capital measure
^(23)    calculated based on Tier 1 capital divided by risk-weighted assets.
         See "Table 13: Reconciliation of Non-GAAP Measures and Calculation of
         Regulatory Capital Measures" for additional information.
         Total risk-based capital ratio is a regulatory capital measure
         calculated based on total risk-based capital divided by risk-weighted
^(24)    assets. See "Table 13: Reconciliation of Non-GAAP Measures and
         Calculation of Regulatory Capital Measures" for additional
         information.
         TCE ratio is a non-GAAP measure calculated based on tangible common
^(25)    equity divided by tangible assets. See "Table 13: Reconciliation of
         Non-GAAP Measures and Calculation of Regulatory Capital Measures" for
         additional information.
         The previously reported TCE as of the end of Q3 2012 has been revised
^(26)    to exclude noncumulative perpetual preferred stock. See "Table 13:
         Reconciliation of Non-GAAP Measures and Calculation of Regulatory
         Capital Measures" for additional information.



CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 5: Average Balances, Net Interest Income and Net Interest Margin
                     2012 Q4                         2012 Q3                         2011 Q4
                     Average   Interest  Yield/    Average   Interest  Yield/    Average   Interest  Yield/
                               Income/                         Income/                         Income/
(Dollars in          Balance   Expense   Rate        Balance   Expense   Rate        Balance   Expense   Rate
millions)(unaudited)
Interest-earning
assets:
  Cash equivalents   $        $      1.04     %  $       $      1.20     %  $       $      1.20     %
  and other          10,768   28                    6,019    18                    5,685    17
  Securities
  available for      64,174    361       2.25        57,928    335       2.31        39,005    244       2.50
  sale
  Loans held for     202,944   4,726     9.31        202,856   4,901     9.66        131,581   3,440     10.46
  investment
Total                $                               $                               $
interest-earning     277,886  $ 5,115  7.36     %  266,803  $ 5,254  7.88     %  176,271  $ 3,701  8.40     %
assets
Interest-bearing
liabilities:
  Interest-bearing   $         $       0.72     %  $         $       0.77     %  $         $       0.96     %
  deposits           192,122  348                   193,700  371                   109,914  264
  Securitized debt   12,119    58        1.91        13,331    64        1.92        16,780    80        1.91
  obligations
  Senior and         11,528    85        2.95        11,035    85        3.08        10,237    89        3.48
  subordinated notes
  Other borrowings   20,542    96        1.87        12,085    88        2.91        7,794     86        4.41
Total                $         $                   $         $                   $         $  
interest-bearing     236,311  587       0.99     %  230,151  608       1.06     %  144,725  519       1.43     %
liabilities
Net interest                   $ 4,528  6.37     %            $ 4,646  6.82     %            $ 3,182  6.97     %
income/spread
Impact of
non-interest bearing                     0.15                            0.15                            0.25
funding
Net interest margin                      6.52     %                      6.97     %                      7.22     %

Year Ended December 31,
                     2012                             2011
                     Average   Interest  Yield/     Average   Interest  Yield/
                               Income/                          Income/
(Dollars in          Balance   Expense   Rate         Balance   Expense   Rate
millions)(unaudited)
Interest-earning
assets:
  Cash equivalents   $       $      1.01     %   $       $      1.04     %
  and other          9,740    98                     7,328    76
  Investment         57,424    1,329     2.31         39,513    1,137     2.88
  securities
  Loans held for     187,915   17,537    9.33         128,424   13,774    10.73
  investment
Total                $                                $
interest-earning     255,079  $18,964   7.43     %   175,265  $14,987   8.55     %
assets
Interest-bearing
liabilities:
  Interest-bearing   $         $ 1,403  0.77     %   $         $ 1,187  1.08     %
  deposits           183,314                         109,644
  Securitized debt   14,138    271       1.92         20,715    422       2.04
  obligations
  Senior and         11,012    345       3.13         9,244     300       3.25
  subordinated notes
  Other borrowings   12,875    356       2.77         8,063     337       4.18
Total                $                                $
interest-bearing     221,339  $ 2,375  1.07     %   147,666  $ 2,246  1.52     %
liabilities
Net interest                   $16,589   6.36     %             $12,741   7.03     %
income/spread
Impact of
non-interest bearing                     0.14                             0.24
funding
Net interest margin                      6.50     %                       7.27     %

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 6: Loan Information and Performance Statistics^(1)(2)(3)
                                     2012          2012          2011
(Dollars in millions)(unaudited)     Q4            Q3^          Q4
Period-end Loans Held For
Investment
Credit card:
 Domestic credit card             $        $        $     
                                     83,141        80,621        56,609
 International credit card         8,614         8,412         8,466
 Total credit card              91,755        89,033        65,075
Consumer banking:
 Automobile                        27,123        26,434        21,779
 Home loan                         44,100        46,275        10,433
 Retail banking                    3,904         4,029         4,103
 Total consumer banking         75,127        76,738        36,315
Commercial banking:^(4)
 Commercial and multifamily real   17,732        16,963        15,736
estate
 Commercial and industrial         19,892        18,965        17,088
 Total commercial lending       37,624        35,928        32,824
 Small-ticket commercial real      1,196         1,281         1,503
estate
 Total commercial banking       38,820        37,209        34,327
Other loans                          187           152           175
 Total                          $         $         $    
                                     205,889       203,132       135,892
Average Loans Held For Investment
Credit card:
 Domestic credit card             $        $        $     
                                     80,718        80,502        54,403
 International credit card         8,372         8,154         8,361
 Total credit card              89,090        88,656        62,764
Consumer banking:
 Automobile                        26,881        25,923        21,101
 Home loan                        45,250        47,262        10,683
 Retail banking                    3,967         4,086         4,007
 Total consumer banking         76,098        77,271        35,791
Commercial banking:^(4)
 Commercial and multifamily real   17,005        16,654        14,920
estate
 Commercial and industrial         19,344        18,817        16,376
 Total commercial lending       36,349        35,471        31,296
 Small-ticket commercial real      1,249         1,296         1,547
estate
 Total commercial banking       37,598        36,767        32,843
Other loans                          158           162           183
 Total                          $         $         $    
                                     202,944       202,856       131,581
Net Charge-off Rates^(5)
Credit card:
 Domestic credit card              4.35        % 3.04        % 4.07        %
 International credit card^(8)     3.99          4.95          5.77
 Total credit card              4.32          3.22          4.30
Consumer Banking:
 Automobile                        2.24          1.79          2.07
 Home loan                         (0.06)        0.28          0.90
 Retail banking                    2.45          1.20          1.44
 Total consumer banking         0.88          0.83          1.65
Commercial banking:^(4)
 Commercial and multifamily real   (0.08)        (0.05)        0.75
estate
 Commercial and industrial         0.13          -             0.21
 Total commercial lending       0.03          (0.03)        0.47
 Small-ticket commercial real      2.02          0.79          3.73
estate
 Total commercial banking       0.10          -             0.62
Other loans                          24.23         30.11         24.08
 Total                          2.26        % 1.75        % 2.69        %
30+ Day Performing Delinquency
Rates^(5)
Credit card:^(7)
 Domestic credit card              3.61        % 3.52        % 3.66        %
 International credit card         3.58          4.92          5.18
 Total credit card              3.61        % 3.65        % 3.86        %
Consumer Banking:
 Automobile                        7.00        % 6.12        % 6.88        %
 Home loan                         0.13          0.15          0.89
 Retail banking                    0.76          0.73          0.83
 Total consumer banking         2.65        % 2.23        % 4.47        %
Nonperforming Asset Rates^(5)(6)
Credit card:^(7)
 International credit card         1.16        % —           % —           %
 Total credit card              0.11        % —           % —           %
Consumer banking:
 Automobile                        0.63        % 0.52        % 0.58        %
 Home loan                         1.00          0.98          4.58
 Retail banking                    1.85          2.25          2.50
 Total consumer banking         0.91        % 0.89        % 1.94        %
Commercial banking:^(4)
 Commercial and multifamily real   0.82        % 1.04        % 1.40        %
estate
 Commercial and industrial         0.72          0.68          0.80
 Total commercial lending       0.77        % 0.85        % 1.09        %
 Small-ticket commercial real      0.97          1.49          2.86
estate
 Total commercial banking       0.77        % 0.87        % 1.17        %

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 7: Loan Information and Performance Statistics (Excluding Acquired
Loans)^(1)(2)(3)(5)
                                     2012          2012          2011
(Dollars in millions)(unaudited)     Q4            Q3^          Q4
Period-end Loans Held For
Investment (Excluding Acquired
Loans)
Credit card:
 Domestic credit card             $        $        $     
                                     82,853        80,250        56,609
 International credit card         8,614         8,412         8,466
 Total credit card              91,467        88,662        65,075
Consumer banking:
 Automobile                        27,106        26,411        21,732
 Home loan                         7,697         7,719         6,321
 Retail banking                    3,870         3,990         4,058
 Total consumer banking         38,673        38,120        32,111
Commercial banking:^(4)
 Commercial and multifamily real   17,605        16,800        15,573
estate
 Commercial and industrial         19,660        18,729        16,770
 Total commercial lending       37,265        35,529        32,343
 Small-ticket commercial real      1,196         1,281         1,503
estate
 Total commercial banking       38,461        36,810        33,846
Other loans                          154           152           175
 Total                          $         $         $    
                                     168,755       163,744       131,207
Average Loans Held For Investment
(Excluding Acquired Loans)
Credit card:
 Domestic credit card             $        $        $     
                                     80,407        80,079        54,403
 International credit card         8,372         8,154         8,361
 Total credit card              88,779        88,233        62,764
Consumer banking:
 Automobile                        26,861        25,897        21,049
 Home loan                        8,092         7,996         6,483
 Retail banking                    3,931         4,046         3,962
 Total consumer banking         38,884        37,939        31,494
Commercial banking:^(4)
 Commercial and multifamily real   16,871        16,489        14,757
estate
 Commercial and industrial         19,115        18,579        16,055
 Total commercial lending       35,986        35,068        30,812
 Small-ticket commercial real      1,249         1,296         1,547
estate
 Total commercial banking       37,235        36,364        32,359
Other loans                          147           162           183
 Total                          $         $         $    
                                     165,045       162,698       126,800
Net Charge-off Rates (Excluding
Acquired Loans)
Credit card:
 Domestic credit card              4.37        % 3.06        % 4.07        %
 International credit card^(8)     3.99          4.95          5.77
 Total credit card              4.33          3.23          4.30
Consumer Banking:
 Automobile                        2.24          1.79          2.07
 Home loan                         (0.33)        1.65          1.48
 Retail banking                    2.48          1.22          1.46
 Total consumer banking         1.73          1.70          1.87
Commercial banking:^(4)
 Commercial and multifamily real   (0.08)        (0.05)        0.76
estate
 Commercial and industrial         0.13          -             0.22
 Total commercial lending       0.03          (0.03)        0.48
 Small-ticket commercial real      2.02          0.79          3.73
estate
 Total commercial banking       0.10          -             0.63
Other loans                          26.05         30.11         24.08
 Total                          2.78        % 2.18        % 2.79        %
30+ Day Performing Delinquency
Rates (Excluding Acquired Loans)
Credit card:^(7)
 Domestic credit card              3.62        % 3.53        % 3.66        %
 International credit card         3.58          4.92          5.18
 Total credit card              3.62        % 3.67        % 3.86        %
Consumer Banking:
 Automobile                        7.01        % 6.12        % 6.90        %
 Home loan                         0.77          0.89          1.47
 Retail banking                    0.77          0.74          0.84
 Total consumer banking         5.14        % 4.50        % 5.06        %
Nonperforming Asset Rates
(Excluding Acquired Loans)^(5)(6)
Credit card:^(7)
 International credit card         1.16        % —           % —           %
 Total credit card              0.11        % —           % —           %
Consumer banking:
 Automobile                        0.63        % 0.52        % 0.58        %
 Home loan                         5.69          5.85          7.55
 Retail banking                    1.86          2.27          2.52
 Total consumer banking         1.76        % 1.78        % 2.20        %
Commercial banking:^(4)
 Commercial and multifamily real   0.83        % 1.05        % 1.42        %
estate
 Commercial and industrial         0.72          0.69          0.81
 Total commercial lending       0.77          0.86          1.10
 Small-ticket commercial real      0.97          1.49          2.86
estate
 Total commercial banking       0.78        % 0.88        % 1.18        %

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 8: Financial & Statistical Summary—Credit Card
Business^(2)
                               2012            2012            2011
(Dollars in millions)          Q4              Q3^            Q4
(unaudited)
Credit Card
Earnings:
 Net interest income          $          $          $     
                               2,849          2,991          1,949
 Non-interest income          883             826             638
 Total net revenue            3,732           3,817           2,587
 Provision for credit losses  1,000           892             600
 Non-interest expense         1,933           1,790           1,431
 Income (loss) from
continuing operations before   799             1,135           556
taxes
 Income tax provision         279             394             203
(benefit)
 Income (loss) from           $         $         $      
continuing operations, net of   520            741            353
tax
Selected performance metrics:
 Period-end loans held for    $          $          $     
investment                     91,755          89,033          65,075
 Average loans held for       89,090          88,656          62,764
investment
 Average yield on loans held  14.33         % 15.03         % 14.12         %
for investment
 Total net revenue margin     16.76           17.22           16.49
 Net charge-off rate^(5)(8)   4.32            3.22            4.30
 30+ day delinquency          3.61            3.65            3.86
rate^(5)
 Nonperforming loan           0.11            —               —
rate^(5)(7)
 Purchase volume^(9)          $          $          $     
                               52,853          48,020          38,179
Domestic Card
Earnings:
 Net interest income          $          $          $     
                               2,583          2,715          1,706
 Non-interest income          798             722             613
 Total net revenue            3,381           3,437           2,319
 Provision for credit losses  $         811             519
                                911
 Non-interest expense         1,727           1,584           1,183
 Income (loss) from
continuing operations before   743             1,042           617
taxes
 Income tax provision         263             369             222
(benefit)
 Income (loss) from           $         $         $      
continuing operations, net of   480            673            395
tax
Selected performance metrics:
 Period-end loans held for    $          $          $     
investment                     83,141          80,621          56,609
 Average loans held for       80,718          80,502          54,403
investment
 Average yield on loans held  14.20         % 14.88         % 14.05         %
for investment
 Total net revenue margin     16.75           17.08           17.05
 Net charge-off rate^(5)      4.35            3.04            4.07
 30+ day delinquency          3.61            3.52            3.66
rate^(5)
 Purchase volume^(9)          $          $          $     
                               48,918          44,552          34,586
International Card
Earnings:
 Net interest income          $         $         $      
                                266            276            243
 Non-interest income          85              104             25
 Total net revenue            351             380             268
 Provision for credit losses  89              81              81
 Non-interest expense         206             206             248
 Income (loss) from
continuing operations before   56              93              (61)
taxes
 Income tax provision         16              25              (19)
(benefit)
 Income (loss) from           $         $         $      
continuing operations, net of    40            68           (42)
tax
Selected performance metrics:
 Period-end loans held for    $          $          $     
investment                     8,614          8,412          8,466
 Average loans held for       8,372           8,154           8,361
investment
 Average yield on loans held  15.59         % 16.47         % 14.57         %
for investment
 Total net revenue margin     16.77           18.64           12.82
 Net charge-off rate^(8)      3.99            4.95            5.77
 30+ day delinquency rate    3.58            4.92            5.18
 Nonperforming loan rate^(7)  1.16            —               —
 Purchase volume^(9)          $          $          $     
                               3,935          3,468          3,593

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 9: Financial & Statistical Summary—Consumer Banking Business^(3)
                               2012            2012            2011
(Dollars in millions)          Q4              Q3^            Q4
(unaudited)
Consumer Banking
Earnings:
 Net interest income           $          $          $     
                               1,503          1,501          1,105
 Non-interest income           161             260             152
 Total net revenue             1,664           1,761           1,257
 Provision for credit losses   169             202             180
 Non-interest expense          992             977             893
 Income from continuing        503             582             184
 operations before taxes
 Income tax provision          178             206             67
 Income from continuing        $         $         $      
 operations, net of tax         325            376            117
Selected performance metrics:
 Period-end loans held for     $          $          $     
 investment                   75,127          76,738          36,315
 Average loans held for        76,098          77,271          35,791
 investment
 Average yield on loans held   5.94          % 6.05          % 9.46          %
 for investment
 Auto loan originations        $          $          $     
                               3,479          3,905          3,586
 Period-end deposits           172,396         173,100         88,540
 Average deposits             172,654         173,334         88,390
 Deposit interest expense      0.68          % 0.71          % 0.84          %
 rate
 Core deposit intangible       $         $         $      
 amortization                    39            41            31
 Net charge-off rate^(5)       0.88          % 0.83          % 1.65          %
 30+ day performing            2.65            2.23            4.47
 delinquency rate^(5)
 30+ day delinquency           **              2.91            5.99
 rate^(5)(10)
 Nonperforming loan            0.85            0.84            1.79
 rate^(5)(10)
 Nonperforming asset           0.91            0.89            1.94
 rate^(5)(6)
 Period-end loans serviced     $          $          $     
 for others                    15,333          15,659          17,998

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 10: Financial & Statistical Summary—Commercial Banking
Business^(3)(4)
                               2012            2012            2011
(Dollars in millions)          Q4              Q3^            Q4
(unaudited)
Commercial Banking
Earnings:
 Net interest income           $         $         $      
                                450            432            425
 Non-interest income           86              87              87
 Total net revenue^(11)        536             519             512
 Provision for credit losses   (20)            (87)            76
 Non-interest expense          294             253             254
 Income from continuing        262             353             182
 operations before taxes
 Income tax provision         93              125             65
 Income from continuing        $         $         $      
 operations, net of tax         169            228            117
Selected performance metrics:
 Period-end loans held for     $          $          $     
 investment                   38,820          37,209          34,327
 Average loans held for        37,598          36,767          32,843
 investment
 Average yield on loans held   4.15          % 4.14          % 4.70          %
 for investment
 Period-end deposits          $          $          $     
                               29,866          28,670          26,683
 Average deposits             29,476          28,063          26,185
 Deposit interest expense      0.28          % 0.31          % 0.42          %
 rate
 Core deposit intangible       $         $         $      
 amortization                     8            8            9
 Net charge-off rate^(5)       0.10          % -             % 0.62          %
 Nonperforming loan rate^(5)   0.73            0.82            1.08
 Nonperforming asset rate      0.77            0.87            1.17
 ^(5)(6)
Risk category:^(12)
 Noncriticized                 $          $          $     
                               36,839          35,112          31,617
 Criticized performing         1,340           1,394           1,857
 Criticized nonperforming      282             305             372
  Total risk-rated loans    38,461          36,811          33,846
 Acquired commercial loans     359             398             481
  Total commercial loans    $          $          $     
                               38,820          37,209          34,327
 % of period-end held for
 investment commercial loans:
 Noncriticized                 94.9          % 94.4          % 92.1          %
 Criticized performing         3.5             3.7             5.4
 Criticized nonperforming      0.7             0.8             1.1
  Total risk-rated loans    99.1            98.9            98.6
 Acquired commercial loans     0.9             1.1             1.4
  Total commercial loans    100.0         % 100.0         % 100.0         %

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 11: Financial & Statistical Summary—Other and
Total^(2)(3)
                               2012             2012           2011
(Dollars in millions)          Q4               Q3^           Q4
(unaudited)
Other ^(4)
Earnings:
 Net interest expense          $         $        $       
                                (274)         (278)         (297)
 Non-interest income           (34)             (37)           (9)
 Total net revenue             (308)            (315)          (306)
 Provision for credit losses   2                7              5
 Non-interest expense          36               25             40
 Income (loss) from
 continuing operations before  (346)            (347)          (351)
 taxes
 Income tax benefit            (180)            (190)          (175)
 Income (loss) from            $         $        $       
 continuing operations, net     (166)         (157)         (176)
 of tax
Selected performance metrics:
 Period-end loans held for     $         $        $       
 investment                      187           152           175
 Average loans held for        158              162            183
 investment
 Period-end deposits           10,223           11,485         13,003
 Average deposits              11,364           11,926         13,875
Total
Earnings:
 Net interest income           $         $         $      
                               4,528           4,646         3,182
 Non-interest income           1,096            1,136          868
 Total net revenue             5,624            5,782          4,050
 Provision for credit losses   1,151            1,014          861
 Non-interest expense          3,255            3,045          2,618
 Income from continuing        1,218            1,723          571
 operations before taxes
 Income tax provision          370              535            160
 Income from continuing        $         $         $       
 operations, net of tax          848          1,188          411
Selected performance metrics:
  Period-end loans held for   $           $          $     
 investment                   205,889         203,132        135,892
  Average loans held for      202,944          202,856        131,581
 investment
  Period-end deposits         212,485          213,255        128,226
  Average deposits            213,494          213,323        128,450

CAPITAL ONE FINANCIAL CORPORATION
(COF)
Table 12: Notes to Loan and Business Segment Disclosures (Tables
6- 11)
^(1)  Certain prior period amounts have been reclassified to conform to the
      current period presentation.
      Results for Q2 2012 and thereafter include the impact of the May 1, 2012
^(2)  closing of the HSBC transaction, which resulted in the addition of
      approximately $28.2 billion in credit card receivables at closing.
      Results for Q1 2012 and thereafter include the impact of the February
^(3)  17, 2012 acquisition of ING Direct, which resulted in the addition of
      loans of $40.4 billion, other assets of $53.9 billion and deposits of
      $84.4 billion at acquisition.
      In Q1 2012, we re-aligned the products within our Commercial Banking
      segment to reflect the business operations by product rather than by
      customer type. As a result of this re-alignment, we now report three
      product categories: commercial and multifamily real estate, commercial
      and industrial loans and small-ticket commercial real estate. Middle
^(4)  market and specialty lending related products are included in commercial
      and industrial loans. All tax-related affordable housing investments,
      some of which were previously included in the "Other" segment, are now
      included in the commercial and multifamily real estate category of our
      Commercial Banking segment. Prior period amounts have been recast to
      conform to the current period presentation.
      Loans acquired as part of the CCB, ING Direct and HSBC U.S. card
      acquisitions are included in the denominator used in calculating the
      credit quality metrics presented in Tables 6, 8, 9, and 10. These
^(5)  metrics, adjusted to exclude from the denominator acquired loans
      accounted for based on estimated cash flows expected to be collected
      over the life of the loans (formerly SOP 03-3), are presented in Table
      7. The table below presents amounts related to these acquired loans.
                             2012          2012         2011
      (Dollars in
      millions)              Q4            Q3           Q4
      (unaudited)
      Acquired loans
      accounted for
      under SOP 03-3:
          Period-end
          unpaid             $          $         $  
          principal          38,477        40,749       5,751
          balance
          Period-end
          loans held for     37,134        39,388       4,685
          investment
          Average loans
          held for           37,899        40,158       4,781
          investment
      Nonperforming assets consist of nonperforming loans, real estate owned
      ("REO") and other foreclosed assets. The nonperforming asset ratios are
^(6)  calculated based on nonperforming assets for each category divided by
      the combined period-end total of loans held for investment, REO and
      other foreclosed assets for each respective category.
      As permitted by regulatory guidance, our policy is generally to exempt
      delinquent credit card loans from being classified as nonperforming. We
      continue to accrue finance charges and fees on the substantial majority
^(7)  of our credit card loans until the loan is charged off, typically when
      the account becomes 180 days past due. Effective November 2012, we began
      classifying UK loans as nonperforming when the account becomes 120 days
      past due.
      The charge-off rate for UK card was impacted by two events in the
      quarter: i. In November 2012 we began charging off delinquent UK loans
      for which revolving privileges have been revoked as part of a loan
      workout when the account becomes 120 past due. We previously charged off
      such loans in the period the account became 180 days past due. Our
^(8)  revised charge-off policy for these loans is consistent with our
      charge-off practice for installment loans. As a result of this change,
      we recorded a cumulative charge-off adjustment which resulted in
      elevated International Card charge-offs for the month. ii. December
      2012 included the impact of excess recoveries due to a high-volume of
      debt sales. 
^(9)  Includes credit card purchase transactions net of returns. Excludes cash
      advance transactions.
      The 30+ day total delinquency rate as of the end of Q4 2012 will be
^(10) provided in our Annual Report on Form 10-K for the year ended December
      31, 2012.
      Because some of our tax-related commercial investments generate
      tax-exempt income or tax credits, we make certain reclassifications
^(11) within our Commercial Banking business results to present revenues on a
      taxable-equivalent basis, calculated assuming an effective tax rate
      approximately equal to our federal statutory tax rate of 35%.
^(12) Criticized exposures correspond to the "Special Mention," "Substandard"
      and "Doubtful" asset categories defined by bank regulatory authorities.

CAPITAL ONE FINANCIAL CORPORATION
(COF)
Table 13: Reconciliation of Non-GAAP Measures and Calculation of Regulatory
Capital Measures
In addition to disclosing required regulatory capital measures, we also
report certain non-GAAP capital measures that management uses in assessing
its capital adequacy. These non-GAAP measures include average tangible
common equity, tangible common equity ("TCE") and TCE ratio. The table
below provides the details of the calculation of our regulatory capital and
non-GAAP capital measures. While our non-GAAP capital measures are widely
used by investors, analysts and bank regulatory agencies to assess the
capital position of financial services companies, they may not be
comparable to similarly titled measures reported by other companies.
                                     2012          2012         2011
(Dollars in                          Q4            Q3           Q4
millions)(unaudited)
Average Equity to Non-GAAP
Average Tangible Common Equity
Average total stockholders'          $           $          $  
equity                               40,212        38,535       29,698
Less: Average intangible            (16,340)      (16,408)     (13,935)
assets^(1)
 Noncumulative              (853)         (456)        —
perpetual preferred stock^(2)
Average tangible common              $           $          $  
equity^(3)                           23,019        21,671       15,763
Stockholders' Equity to
Non-GAAP Tangible Common Equity
Total stockholders' equity           $           $          $  
                                     40,499        39,672       29,666
Less: Intangible assets^(1)         (16,224)      (16,323)     (13,908)
 Noncumulative              (853)         (853)        —
perpetual preferred stock^(2)
Tangible common equity^(3)           $           $          $  
                                     23,422        22,496       15,758
Total Assets to Tangible Assets
Total assets                         $            $           $ 
                                     312,918      301,989     206,019
Less: Assets from discontinued      (309)         (309)        (305)
operations
Total assets from continuing         312,609       301,680      205,714
operations
Less: Intangible assets^(1)         (16,224)      (16,323)     (13,908)
Tangible assets                      $            $           $ 
                                     296,385      285,357     191,806
Non-GAAP TCE Ratio
Tangible common equity^(3)           $           $          $  
                                     23,422        22,496       15,758
Tangible assets                      296,385       285,357      191,806
TCE ratio^(3)                        7.9        %  7.9       %  8.2      %
Regulatory Capital Ratios^(4)
Total stockholders' equity           $           $          $  
                                     40,499        39,672       29,666
Less: Net unrealized (gains)
losses on AFS securities             (712)         (752)        (289)
recorded in AOCI^(5)
          Net (gains)
         losses on cash flow         2             (6)          71
         hedges recorded in
         AOCI^(5)
          Disallowed
         goodwill and other          (14,428)      (14,497)     (13,855)
         intangible assets
          Disallowed             —             (221)        (534)
         deferred tax assets
          Noncumulative
         perpetual preferred         (853)         (853)        —
         stock^(2)
          Other                 (12)          (12)         (2)
Tier 1 common capital                24,496        23,331       15,057
Plus: Noncumulative perpetual      853           853          —
preferred stock^(2)
          Tier 1 restricted      2             3,636        3,635
         core capital items^(6)
Tier 1 capital                       25,351        27,820       18,692
Plus: Long-term debt               2,119         2,119        2,438
qualifying as Tier 2 capital
          Qualifying
         allowance for loan and      2,819         2,767        1,979
         lease losses
          Other Tier 2           13            17           23
         components
Tier 2 capital                       4,951         4,903        4,440
Total risk-based capital^(7)         $           $          $  
                                     30,302        32,723       23,132
Risk-weighted assets^(8)             $            $           $ 
                                     222,546      218,390     155,657
Tier 1 common ratio^(9)              11.0       %  10.7      %  9.7      %
Tier 1 risk-based capital            11.4          12.7         12.0
ratio^(10)
Total risk-based capital             13.6          15.0         14.9
ratio^(11)
___________________
^(1)     Includes impact from related deferred
         taxes.
         Noncumulative perpetual preferred stock qualifies for Tier 1
^(2)     capital; however, it is not includable in Tier 1 common
         capital.
         TCE ratio calculated based on tangible common equity divided by
^(3)     tangible assets. The previously reported TCE as of the end of
         Q3 2012 has been revised to exclude noncumulative perpetual
         preferred stock.
^(4)     Regulatory capital ratios as of the end of Q4 2012 are
         preliminary and therefore subject to change.
^(5)     Amounts presented are net of tax.
^(6)     Consists primarily of trust preferred
         securities.
^(7)     Total risk-based capital equals the sum of Tier 1
         capital and Tier 2 capital.
^(8)     Calculated based on prescribed regulatory
         guidelines.
^(9)     Tier 1 common ratio is a regulatory measure calculated based on
         Tier 1 common capital divided by risk-weighted assets.
         Tier 1 risk-based capital ratio is a regulatory capital measure
^(10)    calculated based on Tier 1 capital divided by risk-weighed
         assets.
         Total risk-based capital ratio is a regulatory capital measure
^(11)    calculated based on total risk-based capital divided by risk-weighed
         assets.







SOURCE Capital One Financial Corporation

Website: http://www.capitalone.com
Contact: Investor Relations: Jeff Norris, +1-703-720-2455; Danielle Dietz,
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