v3.26.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 4,588,129 $ 4,241,265
Investments:    
Trading investments at fair value (cost of $37,986 and $37,606, respectively) 55,938 49,250
Available-for-sale investments at fair value (cost of $1,775,289 and $1,812,408, respectively) 1,716,712 1,758,070
Other investments 107,088 115,394
Total investments 1,879,738 1,922,714
Loans held for investment (net of allowance for losses of $1,354,014 and $1,430,318, respectively) 19,531,493 20,332,124
Loans held for sale 172,466 933,256
Restricted cash 206,858 177,263
Other interest-earning assets 77 120
Accrued interest receivable 1,602,311 1,562,811
Premises and equipment, net 123,433 122,193
Goodwill and acquired intangible assets, net 58,546 59,974
Income taxes receivable, net 373,056 347,260
Other assets 43,304 47,315
Total assets 28,579,411 29,746,295
Liabilities    
Deposits 19,894,501 21,060,151
Short-term borrowings 0 498,415
Long-term borrowings 5,844,116 5,362,494
Other liabilities 366,125 373,877
Total liabilities 26,104,742 27,294,937
Commitments and contingencies
Equity    
Series B: 2.5 million and 2.5 million shares issued, respectively, at stated value of $100 per share 251,070 251,070
Common stock, par value $0.20 per share, 1.125 billion shares authorized: 445.7 million and 443.2 million shares issued, respectively 89,136 88,650
Additional paid-in capital 1,261,748 1,240,250
Accumulated other comprehensive loss (net of tax benefit of ($14,669) and ($13,446), respectively) (43,790) (40,128)
Retained earnings 5,041,088 4,734,313
Total SLM Corporation stockholders’ equity before treasury stock 6,599,252 6,274,155
Less: Common stock held in treasury at cost: 257.7 million and 244.0 million shares, respectively (4,124,583) (3,822,797)
Total equity 2,474,669 2,451,358
Total liabilities and equity $ 28,579,411 $ 29,746,295