v3.26.1
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Loans $ 539,936 $ 597,609 $ 1,142,198 $ 1,196,376
Investments 17,124 13,710 32,092 28,456
Cash and cash equivalents 44,995 45,440 77,074 88,017
Total interest income 602,055 656,759 1,251,364 1,312,849
Interest expense:        
Deposits 191,078 201,478 391,687 405,617
Interest expense on short-term borrowings 2,737 3,613 7,865 7,014
Interest expense on long-term borrowings 75,419 74,848 143,580 148,428
Total interest expense 269,234 279,939 543,132 561,059
Net interest income 332,821 376,820 708,232 751,790
Less: provisions for credit losses 125,663 148,718 114,197 172,004
Net interest income after provisions for credit losses 207,158 228,102 594,035 579,786
Non-interest income:        
Gains (losses) on sales of loans, net 14,939 (13) 161,252 187,722
Gains (losses) on securities, net 8,001 (2,641) 5,603 (13,019)
Other income 45,346 29,430 86,008 58,117
Total non-interest income 68,286 26,776 252,863 232,820
Operating expenses:        
Compensation and benefits 100,253 84,900 203,699 175,730
FDIC assessment fees 5,143 9,782 9,584 22,185
Other operating expenses 88,900 71,664 151,374 122,019
Total operating expenses 194,296 166,346 364,657 319,934
Acquired intangible assets amortization expense 687 898 1,427 1,919
Total non-interest expenses 194,983 167,244 366,084 321,853
Income before income tax expense 80,461 87,634 480,814 490,753
Income tax expense 21,936 16,362 114,335 114,941
Net income 58,525 71,272 366,479 375,812
Preferred stock dividends 3,581 3,972 7,136 7,928
Net income attributable to SLM Corporation common stock $ 54,944 $ 67,300 $ 359,343 $ 367,884
Basic earnings per common share (in dollars per share) $ 0.29 $ 0.32 $ 1.87 $ 1.75
Average common shares outstanding (in shares) 188,576 209,282 191,999 209,978
Diluted earnings per common share (in dollars per share) $ 0.29 $ 0.32 $ 1.85 $ 1.72
Average common and common equivalent shares outstanding (in shares) 190,384 213,220 194,109 214,098
Declared dividends per common share (in dollars per share) $ 0.13 $ 0.13 $ 0.26 $ 0.26