What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to announce Capital One Financial Corporation's financial results for the first quarter ended March 31, 2006, and to provide investors with related disclosures, including a press release and an earnings presentation. It also includes forward-looking statement cautionary factors and information about the proposed merger with North Fork.

What does Capital One mean by 'managed' financial statements?

Capital One uses 'managed' financial statements to provide a broader perspective on its business. These statements adjust for securitization transactions that are treated as sales under GAAP, allowing the company to report earnings from its entire loan portfolio, including loans that have been securitized and are off its balance sheet. This view is considered useful by management for understanding overall performance.

What are the key risks highlighted by Capital One in this filing?

The filing outlines numerous risks, including intense competition, potential increases in credit losses due to economic conditions, the ability to access capital markets, changes in financial regulations, interest rate volatility, economic impacts on consumer behavior, operational disruptions, and specific risks related to the proposed merger with North Fork.

Where can investors find more information about the financial results and the North Fork merger?

Investors can find more information by accessing the press release (Exhibit 99.1) and earnings presentation (Exhibit 99.2) attached to this 8-K filing. Additionally, information on the proposed North Fork merger will be detailed in a joint proxy statement/prospectus on Form S-4 to be filed with the SEC. Investors can also refer to Capital One's website under 'Investors' and the SEC's EDGAR database.

COF 8-K: Earnings & Results & Regulation FD

Summary

Capital One Financial Corporation (COF) filed an 8-K on April 20, 2006, to report its first quarter financial results ended March 31, 2006. The filing primarily references a press release and an earnings presentation that provide detailed financial performance. A key aspect highlighted is the company's use of 'managed' financial statements, which adjust for securitization transactions qualifying as sales under GAAP. This "managed" view allows for a more comprehensive understanding of the company's earnings generated from its entire loan portfolio, including both on-balance sheet and off-balance sheet assets. Investors should note that the company also disclosed significant cautionary factors related to forward-looking statements. These factors cover a broad range of risks, including intense competition, credit losses, access to capital markets, regulatory changes, interest rate fluctuations, economic conditions impacting consumer behavior, operational disruptions, and specific risks associated with the proposed merger with North Fork Bancorporation, Inc. The filing emphasizes that actual results could differ materially from projections due to these uncertainties. Additionally, details regarding the upcoming merger with North Fork are provided, including how investors can access relevant filings and information.

Key Highlights

1Reporting of First Quarter 2006 Financial Results: The 8-K announces the financial results for the quarter ended March 31, 2006, via an attached press release (Exhibit 99.1) and an earnings presentation (Exhibit 99.2).
2Use of 'Managed' Financial Statements: Capital One utilizes "managed" consolidated financial statements to present a more holistic view of its performance, incorporating both on-balance sheet and off-balance sheet loans, which is a key metric for stakeholders.
3Disclosure of Risks and Uncertainties: The filing extensively lists cautionary factors for forward-looking statements, covering competitive pressures, credit quality, capital market access, regulatory environment, economic conditions, and operational risks.
4Information on Proposed North Fork Merger: The report provides updates and additional information regarding the proposed merger with North Fork Bancorporation, Inc., directing investors to forthcoming filings like the Form S-4 registration statement.
5Webcast and Investor Access: Details are provided for an earnings conference call webcast and archived replay, as well as instructions on how to access financial information and SEC filings via the company's website and the SEC's EDGAR database.
6CFO Signature: The report is signed by Gary L. Perlin, Executive Vice President and Chief Financial Officer, signifying official company representation.

CAPITAL ONE FINANCIAL CORP 8-K Report, Financial Results (Apr 20, 2006)

Summary

Key Highlights

Frequently Asked Questions