Capital One's 'No Hassle Banking' Builds on Hibernia's Traditions; Name Changes - But Account Numbers and Other Aspects of Banking Do Not - as Capital One Brings Even Greater Convenience and Service to Customers
MCLEAN, Va.--(BUSINESS WIRE)--April 24, 2006--Capital One Financial Corporation (NYSE:COF) brought its signature "No Hassle" approach to Texas and Louisiana banking today as all Hibernia branches officially changed their name and appearance to reflect Capital One's well-known national brand.
Capital One finalized its acquisition of Hibernia Corporation in November 2005 as part of its long-term business strategy to expand its diversified consumer lending franchise. Since then, Capital One has worked to prepare a smooth transition for banking customers and a new appearance for branches and customer banking materials that reflect the Capital One brand.
"While the name on branches is now Capital One, everything customers like about Hibernia remains unchanged," said Herb Boydstun, president of Capital One's Banking segment in Texas and Louisiana. Boydstun pointed out that remaining unchanged will be:
-- The same great people; -- A strong commitment to customer service; -- Access at branches, ATMs, by phone and online; -- Account numbers, with the same terms and conditions; -- Payment addresses for loans and credit cards; -- Monthly statements; and -- Much more.
"Combining the strength of Capital One's national brand, marketing expertise, and account base with Hibernia's community banking experience and customer service is a great formula to create a new standard we're calling 'No Hassle Banking,'" Boydstun said. "The name changes, but our customers will continue to receive the same great service they expect from the same bankers. As part of Capital One, we're able to provide a broader range of financial products to our customers and even better service."
To provide greater convenience and enhanced service for banking customers, Capital One is accelerating the bank's new branch-building program. In Texas, 40 new branches are expected to open in 2006. Capital One is building on Hibernia's strengths and providing an even higher level of customer service in a number of ways:
-- The introduction of seven-day banking at certain locations in the Dallas-Ft. Worth and Houston areas. -- Extended banking hours at most Texas branches. -- Small-business banking specialists at many Texas branches. -- An enhanced Web site, www.capitalonebank.com, that combines the best customer features of Hibernia's previous Web site with expanded convenience and functionality. -- The added convenience of conducting transactions, including payments for Capital One credit cards, auto loans and other accounts, at any branch. -- The integration of Capital One and Hibernia customer systems to offer customers increased access to a broader variety of banking functions, including branch banking, commercial banking, telephone customer service, credit cards, auto finance, mortgage loans, insurance, investment banking, point-of-sale financing and others. -- An expanded Customer Contact Center with additional associates who can meet customer needs by telephone.
Today, Capital One has 18 branch locations in the Dallas-Fort Worth area, 31 branch locations in the Houston area and 73 other branch locations in Texas. Capital One plans to open 40 new branches in Texas in 2006. The company also has 199 branch locations in the New Orleans area and throughout Louisiana.
Boydstun added that Capital One is committed to preserving Hibernia's tradition of community support. "We'll continue to support organizations that improve the quality of life for us all," he said. "We're excited about expanding in Texas, continuing to support our communities and providing career-development opportunities for our growing associate base in the state."
About Capital One
Headquartered in McLean, Virginia, Capital One Financial Corporation (www.capitalone.com) is a financial holding company, with more than 316 locations in Texas and Louisiana. Its principal subsidiaries, Capital One Bank, Capital One, F.S.B., Capital One Auto Finance, Inc., and Capital One, N.A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One's subsidiaries collectively had $47.8 billion in deposits and $103.9 billion in managed loans outstanding as of March 31, 2006. Capital One, a Fortune 500 company, trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 500 index.
CONTACT: Capital One Financial Corporation, McLean
Steven Thorpe, 504-533-2753
SOURCE: Capital One Financial Corporation