McLEAN, Va. — For the second quarter, Capital One recently announced that auto loan originations climbed 31.4 percent over the previous quarter to hit $1.8 billion.

In the first quarter, Capital One posted about $1.3 billion in auto originations. In the second quarter of last year, this figure was $1.3 billion as well.

Moreover, the company said the net charge-off rate was 2.09 percent, a decrease of 88 basis points from the prior quarter. In the first quarter, the charge-off rate was 2.97 percent. Meanwhile, in the second quarter of 2009, the rate came in at 3.65 percent.

On a company wide basis, Capital One announced net income of $608 million, or $1.33 per common diluted share, compared to $636 million, or $1.40 per common diluted share in the prior quarter.

According to management, the second quarter figure compares to a loss of $277 million, or a loss of $0.66 per diluted share, in the second quarter of last year.

Continuing on, income from continuing operations came in at $812 million, up $92 million, or 12 percent, from $720 million in the first quarter of 2010. Income from continuing operations was $229 million in the second quarter of 2009.

Talking about overall results, Richard Fairbank, chairman and chief executive officer, said, "Capital One has demonstrated considerable resilience through the recession and the ongoing legislative and regulatory changes reshaping the financial services industry.

"While economic and regulatory uncertainty remains, those same forces are creating attractive opportunities for Capital One. We continue to be well-positioned to take advantage of emerging opportunities and deliver significant shareholder value over the long-term," he added.