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McLEAN, Va., and COLUMBUS, Ohio — As Huntington Bank posted
the largest amount of auto loan originations in company history, Capital One
extended its string of higher origination volume during the second quarter.

Capital One's origination volume climbed for the fourth
quarter in a row, coming in at $4.3 billion when the company closed its second
quarter on June 30. The level was up from the year-ago mark of $2.9 billion. It
also was higher quarter-over-quarter as Capital One posted $4.2 billion in originations
to open the year.

The growth left Capital One's total amount of auto loans
held for investment at $25.2 billion, up from the first-quarter level of $23.5
billion as well as the year-ago figure of $19.2 billion.

As Capital One watched its origination volume move higher,
its 30-day delinquency rate associated with auto loans improved year-over-year.
The second-quarter rate settled at 5.20 percent, down from the year-ago reading
of 6.11 percent. However, the Q2 mark ticked up a bit quarter-over-quarter as
Capital One's first-quarter level was 4.88 percent.

Meanwhile, Capital One indicated its net charge-off rate for
auto loans settled nearly flat year-over-year. The second-quarter reading was
1.11 percent, down slightly from the 1.12 percent mark in Q2 of 2011. The
latest rate was lower than the first-quarter level, which was 1.41 percent.

Huntington Posts Highest Origination Volume Ever

Huntington declared that second quarter allowed the company
to generate the most auto loan origination volume ever – $1.1 billion.

The growth pushed Huntington's total auto loan level up by 9
percent quarter-over-quarter, up to $5.0 billion from $4.6 billion.

The origination performance wasn't the only noteworthy
element to Huntington's discussion of its auto segment.

The company indicated its second quarter auto loan and lease
net charge-offs were $0.4 million, or an annualized 0.04 percent of related
average balances, down 85 percent from $3.1 million, or an annualized 0.27
percent in the prior quarter.

"The significant decline in automobile net charge-offs
reflected the positive impact of our continued commitment to high quality
originations, the typical seasonality of the second quarter, and the continued
strength in used-car sales prices," Huntington officials explained. "We
anticipate continued strength in the used-car market throughout the remainder
of 2012.

"Automobile loan origination levels remained strong throughout
the quarter and, as we did in the 2011 fourth quarter, we reclassified $1.3
billion of automobile loans into held for sale at the end of the quarter in
preparation for an expected securitization in the second half of 2012," they
added.