v3.26.3
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 2,165,175 $ 4,241,265
Investments:    
Trading investments at fair value (cost of $37,326 and $37,606, respectively) 41,308 49,250
Available-for-sale investments at fair value (cost of $2,956,353 and $1,812,408, respectively) 2,847,109 1,758,070
Other investments 104,119 115,394
Total investments 2,992,536 1,922,714
Loans held for investment (net of allowance for losses of $1,449,614 and $1,430,318, respectively) 20,626,170 20,332,124
Loans held for sale 1,442,105 933,256
Restricted cash 273,771 177,263
Other interest-earning assets 65 120
Accrued interest receivable 1,680,595 1,562,811
Premises and equipment, net 122,938 122,193
Goodwill and acquired intangible assets, net 57,912 59,974
Income taxes receivable, net 420,521 347,260
Other assets 59,208 47,315
Total assets 29,840,996 29,746,295
Liabilities    
Deposits 20,760,905 21,060,151
Short-term borrowings 898,729 498,415
Long-term borrowings 5,535,923 5,362,494
Other liabilities 389,925 373,877
Total liabilities 27,585,482 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 89,142 88,650
Additional paid-in capital 1,272,772 1,240,250
Accumulated other comprehensive loss (net of tax benefit of ($27,386) and ($13,446), respectively) (81,757) (40,128)
Retained earnings 4,981,149 4,734,313
Total SLM Corporation stockholders’ equity before treasury stock 6,512,376 6,274,155
Less: Common stock held in treasury at cost: 262.9 million and 244.0 million shares, respectively (4,256,862) (3,822,797)
Total equity 2,255,514 2,451,358
Total liabilities and equity $ 29,840,996 $ 29,746,295