Capital One Financial / COF

About Capital One Financial

1680 Capital One Dr., McLean, Va. 22102
www.capitalone.com | 703-720-1000 | Founded: 1995

Industry: Financial Services | Category: Public Companies

Capital One headed aggressively into the banking business with two acquisitions last year, as defaults and late payments increased in its credit card business.
In 2006, Capital One completed the integration of a New Orleans-based bank, Hibernia. In December, it wrapped up the $13.2 billion acquisition of North Fork Bancorporation, which has banks in New York, New Jersey and Connecticut.
With the acquisitions, Capital One is now the 11th-largest bank in the United States, based on deposits, and has more than 700 locations.
But the deals have not won the company much enthusiasm on Wall Street. The Hibernia purchase was announced right before Hurricane Katrina hit the bank's home territory in the Gulf Coast, and the company spent much of the year working to reopen branches. Capital One snapped up North Fork and its large mortgage portfolio just as the housing market slowed.
In August 2007, the company announced it was closing a mortgage banking subsidiary and eliminating 1,900 jobs to deal with turmoil in the global credit markets. The move followed a decision earlier in the year to lay off another 2,000 employees at other units. (Updated 8-21-07)

Chairman and CEO: Richard D. Fairbank

2006 Financial Data

Revenues: $15,190,900,000 | Net Income: $2,414,493,000
Asssets: $149,739,285,000 | Earnings Per Share: $7.62
Stockholder Equity: $25,235,206,000 | Annual Dividend: $0.11
Total employees: 31,800 | Local employees: 865