v3.26.3
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Interest income:        
Loans $ 559,173 $ 593,734 $ 1,701,371 $ 1,790,110
Investments 31,874 14,955 63,966 43,411
Cash and cash equivalents 25,435 48,898 102,509 136,915
Total interest income 616,482 657,587 1,867,846 1,970,436
Interest expense:        
Deposits 199,080 203,577 590,767 609,194
Interest expense on short-term borrowings 570 717 8,435 7,731
Interest expense on long-term borrowings 77,510 80,316 221,090 228,744
Total interest expense 277,160 284,610 820,292 845,669
Net interest income 339,322 372,977 1,047,554 1,124,767
Less: provisions for credit losses 213,675 179,462 327,872 351,466
Net interest income after provisions for credit losses 125,647 193,515 719,682 773,301
Non-interest income:        
Gains on sales of loans, net 3,650 135,958 164,902 323,680
Gains (losses) on securities, net (13,970) 4,876 (8,367) (8,143)
Other income 46,465 31,868 132,473 89,985
Total non-interest income 36,145 172,702 289,008 405,522
Operating expenses:        
Compensation and benefits 98,443 83,667 302,142 259,397
FDIC assessment fees 5,455 6,511 15,039 28,696
Other operating expenses 116,169 89,380 267,543 211,399
Total operating expenses 220,067 179,558 584,724 499,492
Acquired intangible assets amortization expense 635 846 2,062 2,765
Total non-interest expenses 220,702 180,404 586,786 502,257
Income (loss) before income tax (benefit) expense (58,910) 185,813 421,904 676,566
Income tax (benefit) expense (26,649) 49,963 87,686 164,904
Net income (loss) (32,261) 135,850 334,218 511,662
Preferred stock dividends 3,643 3,994 10,779 11,922
Net income (loss) attributable to SLM Corporation common stock $ (35,904) $ 131,856 $ 323,439 $ 499,740
Basic earnings (loss) per common share (in dollars per share) $ (0.19) $ 0.64 $ 1.70 $ 2.39
Average common shares outstanding (in shares) 185,566 207,144 189,831 209,023
Diluted earnings (loss) per common share (in dollars per share) $ (0.19) $ 0.63 $ 1.68 $ 2.35
Average common and common equivalent shares outstanding (in shares) 185,566 210,607 192,111 212,922
Declared dividends per common share (in dollars per share) $ 0.13 $ 0.13 $ 0.39 $ 0.39