Capital One Financial : Q4 2020 Capital One Financial Earnings Financial Supplement

		Exhibit 99.2
	Capital One Financial Corporation
	Financial Supplement(1)(2)
	Fourth Quarter 2020
	Table of Contents
Capital One Financial Corporation Consolidated Results	Page
Table 1:	Financial Summary-Consolidated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 1
Table 2:	Selected Metrics-Consolidated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 3
Table 3:	Consolidated Statements of Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 4
Table 4:	Consolidated Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 6
Table 5:	Notes to Financial Summary, Selected Metrics and Consolidated Financial Statements (Tables 1-4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 8
Table 6:	Average Balances, Net Interest Income and Net Interest Margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 9
Table 7:	Loan Information and Performance Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . 10
Table 8:	Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 12
Business Segment Results
Table 9:	Financial Summary-BusinessSegment Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . 14
Table 10: Financial & Statistical Summary-CreditCard Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 15
Table 11: Financial & Statistical Summary-ConsumerBanking Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 17
Table 12: Financial & Statistical Summary-CommercialBanking Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . 18
Table 13: Financial & Statistical Summary-Otherand Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . 19
Other
Table 14: Notes to Loan, Allowance and Business Segment Disclosures (Tables 7-13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 20
Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAPMeasures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . 21
__________

1. The information contained in this Financial Supplement is preliminary and based on data available at the time of the earnings presentation. Investors should refer to our Annual Report on Form 10-K for the period ended December 31, 2020 once it is filed with the Securities and Exchange Commission.
2. This Financial Supplement includes non-GAAP measures. We believe these non-GAAP measures are useful to investors and users of our financial information as they provide an alternate measurement of our performance and assist in assessing our capital adequacy and the level of return generated. These non-GAAP measures should not be viewed as a substitute for reported results determined in accordance with generally accepted accounting principles in the U.S. ("GAAP"), nor are they necessarily comparable to non-GAAP measures that may be presented by other companies.

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 1: Financial Summary-Consolidated

																	2020 Q4 vs.			Year Ended December 31,
			2020			2020			2020			2020			2019		2020	2019								2020 vs.
(Dollars in millions, except per share data and as noted)			Q4			Q3			Q2			Q1			Q4	Q3		Q4			2020			2019	2019
Income Statement
Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$	5,873	$	5,555	$	5,460	$	6,025	$	6,066		6 %	(3)%	$	22,913	$	23,340	(2)%
Non-interestincome . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			1,464			1,826			1,096			1,224			1,361		(20)	8			5,610			5,253	7
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total net revenue(1)			7,337			7,381			6,556			7,249			7,427		(1)	(1)			28,523			28,593		-
Provision for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			264			331			4,246			5,423			1,818		(20)	(85)			10,264			6,236	65
Non-interest expense:
Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			563			283			273			491			710		99	(21)			1,610			2,274	(29)
Operating expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			3,446			3,265			3,497			3,238			3,451		6		-			13,446			13,209	2
Total non-interestexpense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			4,009			3,548			3,770			3,729			4,161		13	(4)			15,056			15,483	(3)
Income (loss) from continuing operations before income taxes . . . . . . . . . .			3,064			3,502			(1,460)			(1,903)			1,448		(13)	112			3,203			6,874	(53)
Income tax provision (benefit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			496			1,096			(543)			(563)			270		(55)	84			486			1,341	(64)
Income (loss) from continuing operations, net of tax . . . . . . . . . . . . . . . . . .			2,568			2,406			(917)			(1,340)			1,178		7	118			2,717			5,533	(51)
Income (loss) from discontinued operations, net of tax . . . . . . . . . . . . . . . . .			(2)			-			(1)			-			(2)		**		-			(3)			13	**
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			2,566			2,406			(918)			(1,340)			1,176		7	118			2,714			5,546	(51)
Dividends and undistributed earnings allocated to participating securities(2)			(19)			(20)			(1)			(3)			(7)		(5)	171			(20)			(41)	(51)
Preferred stock dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			(68)			(67)			(90)			(55)			(97)		1	(30)			(280)			(282)	(1)
Issuance cost for redeemed preferred stock(3) . . . . . . . . . . . . . . . . . . . . . . . .			(17)			-			-			(22)			(31)		**	(45)			(39)			(31)	26
Net income (loss) available to common stockholders . . . . . . . . . . . . . . . . . .	$	2,462	$	2,319	$	(1,009)	$	(1,420)	$	1,041		6	137	$	2,375	$	5,192	(54)
Common Share Statistics
Basic earnings per common share:(2)
Net income (loss) from continuing operations . . . . . . . . . . . . . . . . . . . . .	$	5.36	$	5.07	$	(2.21)	$	(3.10)	$	2.26		6 %	137 %	$	5.20	$	11.07	(53)%
Income (loss) from discontinued operations . . . . . . . . . . . . . . . . . . . . . . .			-			-			-			-			-		-		-			(0.01)			0.03	**
Net income (loss) per basic common share . . . . . . . . . . . . . . . . . . . . . . .	$	5.36	$	5.07	$	(2.21)	$	(3.10)	$	2.26		6	137	$	5.19	$	11.10	(53)
Diluted earnings per common share:(2)
Net income (loss) from continuing operations . . . . . . . . . . . . . . . . . . . . .	$	5.35	$	5.06	$	(2.21)	$	(3.10)	$	2.25		6	138	$	5.19	$	11.02	(53)
Income (loss) from discontinued operations . . . . . . . . . . . . . . . . . . . . . . .			-			-			-			-			-		-		-			(0.01)			0.03	**
Net income (loss) per diluted common share . . . . . . . . . . . . . . . . . . . . . .	$	5.35	$	5.06	$	(2.21)	$	(3.10)	$	2.25		6	138	$	5.18	$	11.05	(53)
Weighted-average common shares outstanding (in millions):
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			459.1			457.8			456.7			457.6			460.9		-		-			457.8			467.6	(2)
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			460.2			458.5			456.7			457.6			463.4		-	(1)			458.9			469.9	(2)
Common shares outstanding (period-end, in millions) . . . . . . . . . . . . . . . . .			459.0			457.4			456.3			455.3			456.6		-	1			459.0			456.6	1
Dividends declared and paid per common share . . . . . . . . . . . . . . . . . . . . . .	$	0.10	$	0.10	$	0.40	$	0.40	$	0.40		-	(75)	$	1.00	$	1.60	(38)
Tangible book value per common share (period-end)(4) . . . . . . . . . . . . . . . . .			88.34			83.67			78.82			80.68			83.72		6	6			88.34			83.72	6

1

												2020 Q4 vs.		Year Ended December 31,
	2020	2020	2020	2020	2019		2020	2019						2020 vs.
(Dollars in millions)		Q4		Q3		Q2		Q1		Q4	Q3		Q4	2020	2019	2019
Balance Sheet (Period-End)
Loans held for investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$ 251,624	$ 248,223	$ 251,512	$ 262,990	$ 265,809		1 %	(5)%	$ 251,624	$ 265,809	(5)%
Interest-earningassets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	388,917	390,040	389,829	364,472	355,202		-	9	388,917	355,202	9
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	421,602	421,883	421,296	396,878	390,365		-	8	421,602	390,365	8
Interest-bearingdeposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	274,300	276,092	275,183	245,142	239,209		(1)	15	274,300	239,209	15
Total deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	305,442	305,725	304,238	269,689	262,697		-	16	305,442	262,697	16
Borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	40,539	42,795	44,900	55,681	55,697		(5)	(27)	40,539	55,697	(27)
Common equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	55,356	53,093	50,835	51,620	53,157		4	4	55,356	53,157	4
Total stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	60,204	58,424	56,045	56,830	58,011		3	4	60,204	58,011	4
Balance Sheet (Average Balances)
Loans held for investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$ 247,689	$ 249,511	$ 253,358	$ 262,889	$ 258,870		(1)%	(4)%	$ 253,335	$ 247,450	2 %
Interest-earningassets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	388,252	391,451	378,145	355,347	349,150		(1)	11	378,362	341,510	11
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	420,011	422,854	411,075	390,380	383,162		(1)	10	411,187	374,924	10
Interest-bearingdeposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	274,142	276,339	261,256	241,115	236,250		(1)	16	263,279	231,609	14
Total deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	304,513	305,516	288,344	264,653	260,040		-	17	290,835	255,065	14
Borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	40,662	44,161	49,827	51,795	51,442		(8)	(21)	46,588	50,965	(9)
Common equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	54,220	51,995	52,413	53,186	52,641		4	3	52,954	50,960	4
Total stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	59,389	57,223	57,623	58,568	58,148		4	2	58,201	55,690	5

2

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 2: Selected Metrics-Consolidated

																	2020 Q4 vs.		Year Ended December 31,
			2020			2020			2020			2020			2019		2020		2019							2020 vs.
(Dollars in millions, except as noted)			Q4			Q3			Q2			Q1			Q4	Q3			Q4	2020			2019	2019
Performance Metrics
Net interest income growth (period over period) . . . . . . . . . . . . . . . . . . . . .			6%			2%			(9)%			(1)%			6%		**		**	(2)%			2%	**
Non-interest income growth (period over period) . . . . . . . . . . . . . . . . . . . . .			(20)			67			(10)			(10)			11		**		**	7			1	**
Total net revenue growth (period over period) . . . . . . . . . . . . . . . . . . . . . . .			(1)			13			(10)			(2)			7		**		**		-			2	**
Total net revenue margin(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			7.56			7.54			6.93			8.16			8.51		2	bps		(95)bps	7.54			8.37		(83)bps
Net interest margin(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			6.05			5.68			5.78			6.78			6.95		37		(90)	6.06			6.83	(77)
Return on average assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			2.45			2.28			(0.89)			(1.37)			1.23		17		122	0.66			1.48	(82)
Return on average tangible assets(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			2.54			2.36			(0.93)			(1.43)			1.28		18		126	0.69			1.54	(85)
Return on average common equity(8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			18.18			17.84			(7.69)			(10.68)			7.93		34		10%	4.49			10.16	(6)%
Return on average tangible common equity(9) . . . . . . . . . . . . . . . . . . . . . . . .			25.02			24.98			(10.74)			(14.85)			11.07		4		14	6.24			14.37	(8)
Non-interest expense as a percentage of average loans held for investment .			6.47			5.69			5.95			5.67			6.43		78			4 bps	5.94			6.26		(32)bps
Efficiency ratio(10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			54.64			48.07			57.50			51.44			56.03		7%	(139)	52.79			54.15	(136)
Operating efficiency ratio(11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			46.97			44.24			53.34			44.67			46.47		273	bps	50	47.14			46.20	94
Effective income tax rate for continuing operations . . . . . . . . . . . . . . . . . . .			16.2			31.3			37.2			29.6			18.6		(15)%	(240)	15.2			19.5	(4)%
Employees (period-end,in thousands) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			52.0			52.5			53.1			52.1			51.9		(1)			-	52.0			51.9		-
Credit Quality Metrics
Allowance for credit losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$	15,564	$	16,129	$	16,832	$	14,073	$	7,208		(4)%	116%	$15,564	$	7,208	116%
Allowance coverage ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			6.19%			6.50%			6.69%			5.35%			2.71%		(31)bps		348 bps	6.19%			2.71%		348 bps
Net charge-offs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$	856	$	1,073	$	1,505	$	1,791	$	1,683		(20)%	(49)%	$ 5,225	$	6,252	(16)%
Net charge-offrate(12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			1.38%			1.72%			2.38%			2.72%			2.60%		(34)bps		(122)bps	2.06%			2.53%		(47)bps
30+ day performing delinquency rate(13) . . . . . . . . . . . . . . . . . . . . . . . . . . . .			2.41			1.97			2.09			2.95			3.51		44		(110)	2.41			3.51	(110)
30+ day delinquency rate(13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			2.61			2.22			2.30			3.16			3.74		39		(113)	2.61			3.74	(113)
Capital Ratios(14)
Common equity Tier 1 capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			13.7%			13.0%			12.4%			12.0%			12.2%		70 bps		150 bps	13.7%			12.2%		150 bps
Tier 1 capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			15.3			14.8			14.2			13.7			13.7		50		160	15.3			13.7	160
Total capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			17.7			17.3			16.7			16.1			16.1		40		160	17.7			16.1	160
Tier 1 leverage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			11.2			10.6			10.3			11.0			11.7		60		(50)	11.2			11.7	(50)
Tangible common equity ("TCE")(15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			10.0			9.4			8.8			9.6			10.2		60		(20)	10.0			10.2	(20)

3