Below are the financial statements of SLM, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in thousands of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Interest income | — | — | — |
| Loans | 2,314,417a | 2,327,743a | 1,914,554a |
| Investments | 61,412a | 50,810a | 35,304a |
| Cash and cash equivalents | 243,217a | 213,750a | 81,722a |
| Total interest income | 2,619,046a | 2,592,303a | 2,031,580a |
| Interest expense | — | — | — |
| Deposits | -881,456a | -808,065a | -368,914a |
| Interest expense on short-term borrowings | -13,815a | -13,501a | -11,956a |
| Interest expense on long-term borrowings | -242,993a | -208,524a | -161,929a |
| Total interest expense | -1,138,264a | -1,030,090a | -542,799a |
| Net interest income | 1,480,782a | 1,562,213a | 1,488,781a |
| Less: provisions for credit losses | -408,515a | -345,463a | -633,453a |
| Net interest income after provisions for credit losses | 1,072,267a | 1,216,750a | 855,328a |
| Non-interest income | — | — | — |
| Gains on sales of loans, net | 254,928a | 160,290a | 327,750a |
| Gains (losses) on securities, net | 467a | 2,678a | -60,267a |
| Losses on derivatives and hedging activities, net | 0a | 0a | -5a |
| Other income | 112,873a | 84,148a | 67,160a |
| Total non-interest income | 368,268a | 247,116a | 334,638a |
| Non-interest expenses | — | — | — |
| Operating expenses | — | — | — |
| Compensation and benefits | -349,387a | -326,554a | -270,354a |
| FDIC assessment fees | -51,606a | -45,766a | -20,939a |
| Other operating expenses | -235,577a | -246,886a | -260,169a |
| Total operating expenses | -636,570a | -619,206a | -551,462a |
| Acquired intangible assets impairment and amortization expense | -5,329a | -66,364a | -7,779a |
| Total non-interest expenses | -641,899a | -685,570a | -559,241a |
| Income before income tax expense | 798,636a | 778,296a | 630,725a |
| Income tax expense | -190,311a | -196,905a | -161,711a |
| Net income | 608,325a | 581,391a | 469,014a |
| Preferred stock dividends | 18,296a | 17,705a | 9,029a |
| Net income attributable to SLM Corporation common stock | 590,029a | 563,686a | 459,985a |
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