McLEAN, Va. — Capital One Financial Corp. showed more than a 61-percent year-over-year gain in auto loan originations during the third quarter. Moreover, on a sequential basis, they were up more than 38 percent.

More specifically, Capital One had $2.44 billion in auto loan originations during the period, compared with $1.51 billion in the year-ago period and the $1.77 billion recorded in the second quarter.

Net charge-off rate was at 2.71 percent, a 62-basis point uptick from the second quarter when it was 2.09 percent. However, this is a dip from 4.38 percent in the third quarter of 2009.

Looking at the entire company's results, Capital One's net income reached $803 million, compared with $394 million in the year-ago period and $698 million in the previous quarter.

The company reported $818 million in income from continuing operations for the third quarter. This compares to $437 million a year ago. In the second quarter, it was $812 million.

Discussing the overall results, Capital One chairman and chief executive officer Richard Fairbank noted: "Strong third quarter revenues, credit results and profits continue to demonstrate our resilience in the face of ongoing economic and regulatory uncertainty.

"We're well positioned to take advantage of emerging opportunities and deliver shareholder value over the long term," he added.