MCLEAN, Va.--(BUSINESS WIRE)--April 24, 2006--Capital One
Financial Corporation (NYSE:COF) brought its signature "No Hassle"
approach to Louisiana and Texas 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 Louisiana and Texas.
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 Louisiana, five 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:
-- 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.
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.
"The landmark tower atop our bank headquarters building in New Orleans
will continue to shine brightly at night and on holidays and remain a
symbol of our dedication to banking excellence in the years ahead."
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
Steven Thorpe, 504-533-2753
SOURCE: Capital One Financial Corporation