CAPITAL ONE FINANCIAL CORP

Funding Sources

Our primary source of funding comes from insured deposits in our Consumer Banking business, as they are a relatively stable and lower cost source of funding. In addition to deposits, we raise funding through the issuance of senior and subordinated notes, securitized debt obligations, federal funds purchased, securities loaned or sold under agreements to repurchase, and Federal Home Loan Bank (“FHLB”) advances secured by certain portions of our loan and securities portfolios.

Table 7 provides the composition of our primary sources of funding as of March 31, 2025 and December 31, 2024.

Table 7: Funding Sources Composition

(1)Includes brokered deposits of $11.5 billion and $11.6 billion as of March 31, 2025 and December 31, 2024, respectively.

Total deposits increased by $4.8 billion to $367.5 billion as of March 31, 2025 from December 31, 2024 primarily driven by our national consumer banking strategy.

As of March 31, 2025 and December 31, 2024, we held $63.7 billion and $64.9 billion, respectively, of estimated uninsured deposits. These amounts were primarily comprised of checking and savings deposits. These estimated uninsured deposits comprised approximately 17% and 18% of our total deposits as of March 31, 2025 and December 31, 2024. We estimate our uninsured amounts based on methodologies and assumptions used for our “Consolidated Reports of Condition and Income” (Federal Financial Institutions Examination Council (“FFIEC”) 031) filed with the Federal Reserve, OCC and the Federal Deposit Insurance Corporation (“FDIC”), hereafter collectively referred to as the “Federal Banking Agencies,” adjusted to exclude intercompany balances and cash collateral received on certain derivative contracts which are not presented within deposits on our consolidated balance sheet.

Securitized debt obligations decreased by $2.5 billion to $11.7 billion as of March 31, 2025 from December 31, 2024 primarily due tomaturities.

Other debt decreased by $1.2 billion to $30.1 billion as of March 31, 2025 from December 31, 2024 primarily driven by maturities of unsecured senior debt, partially offset by issuances of subordinated debt.

We provide additional information on our funding sources in “Liquidity Risk Profile” and “Part I—Item 1. Financial Statements—Note 8—Deposits and Borrowings.”