SLM Corp

SLM 10-Q · Q1 2026
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SLM Q1 2026 request

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Income Statement

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Income Statement
Metric Q1 2026 Q1 2025 YoY
Interest And Fee Income Loans And Leases 602,262 598,767 +0.6%
Interest Income Debt Securities Available For Sale Operating 14,968 14,746 +1.5%
Cash And Investments Interest Income Loss 32,079 42,577 -24.7%
Interest And Dividend Income Operating 649,309 656,090 -1.0%
Interest Expense Deposits 200,609 204,139 -1.7%
Interest Expense Short Term Borrowings 5,128 3,401 +50.8%
Interest Expense Long Term Debt 68,161 73,580 -7.4%
Interest Expense Operating 273,898 281,120 -2.6%
Interest Income Expense Net 375,411 374,970 +0.1%
Financing Receivable And Off Balance Sheet Excluding Accrued Interest Credit Loss Expense Reversal -11,466 23,286 -149.2%
Interest Income Expense After Provision For Loan Loss 386,877 351,684 +10.0%
Gain Loss On Sales Of Loans Net 146,313 187,735 -22.1%
Show Debt Instrument breakouts
Private Education Loans 146 188 -22.3%
Gain Loss On Sales Of Mortgage Backed Securities M B S -2,398 -10,378 +76.9%
Noninterest Income Other Operating Income 40,662 28,687 +41.7%
Noninterest Income 184,577 206,044 -10.4%
Labor And Related Expense 103,446 90,830 +13.9%
Show Business Segments breakouts
Reportable Segment 103,446 90,830 +13.9%
Federal Deposit Insurance Corporation Premium Expense 4,441 12,403 -64.2%
Show Business Segments breakouts
Reportable Segment 4,441 12,403 -64.2%
Other Noninterest Expense 62,474 50,355 +24.1%
Operating Expenses Excluding Amortization Of Intangible Assets 170,361 153,588 +10.9%
Amortization Of Acquired Intangible Assets Including Impairment Of Intangible Assets 740 1,021 -27.5%
Show Business Segments breakouts
Reportable Segment 740 1,021 -27.5%
Noninterest Expense 171,101 154,609 +10.7%
Show Business Segments breakouts
Reportable Segment 171,101 154,609 +10.7%
Income Before Taxes 400,353 403,119 -0.7%
Income Tax Expense (Benefit) 92,399 98,579 -6.3%
Net Income 307,954 304,540 +1.1%
Show Equity Components breakouts
Retained Earnings 307,954 304,540 +1.1%
Preferred Stock Dividends Income Statement Impact 3,555 3,956 -10.1%
Net Income Loss Available To Common Stockholders Basic 304,399 300,584 +1.3%
EPS (Basic) 1.56 1.43 +9.1%
Wtd Avg Shares (Basic) 195,460 210,682 -7.2%
EPS (Diluted) 1.54 1.4 +10.0%
Wtd Avg Shares (Diluted) 197,875 214,986 -8.0%
Common Stock Dividends Per Share Declared 0.13 0.13 0.0%
Operating Expenses (Q) — — —
Show Business Segments breakouts
Reportable Segment 170,361 153,588 +10.9%
Comprehensive Income 310,033 314,770 -1.5%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax -689 -5,801 +88.1%
Interest Expense (Q) — — —
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Designated As Hedging Instrument 714 5,919 -87.9%
Other Expenses (Q) — — —
Show Business Segments breakouts
Reportable Segment 12,479 11,700 +6.7%
Professional Fees (Q) — — —
Show Business Segments breakouts
Reportable Segment 28,769 20,314 +41.6%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 5,157,453 3,695,076 +39.6%
Non-Current Assets
Property, Plant & Equipment 121,546 117,426 +3.5%
Total Assets 29,409,591 28,899,184 +1.8%
Show Debt Instrument breakouts
ABCP borrowings · Variable Interest Entity Primary Beneficiary 589 486 +21.2%
Private Education Loan term securitizations · Variable Interest Entity Primary Beneficiary 7,141,101 7,079,272 +0.9%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 7,141,690 7,078,786 +0.9%
Goodwill 56 56 0.0%
Intangible Assets 3,131 6,408 -51.1%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 577 1,974 -70.8%
Developed Technology Rights 443 776 -42.9%
Sallie.com domain 98 135 -27.4%
Trademarks And Trade Names 2,013 3,523 -42.9%
Other Assets
Other Investments 112,442 97,960 +14.8%
Investments 1,902,483 1,808,669 +5.2%
Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss 19,886,735 21,091,204 -5.7%
Show Financing Receivable Portfolio breakouts
Consumer Portfolio Segment · Student Loan 19,886,735 21,091,204 -5.7%
Show Financing Receivable Recorded Investment By Class Of Financing Receivable breakouts
Private Education Loans 19,886,735 21,091,204 -5.7%
Loans Receivable Held For Sale Net Not Part Of Disposal Group 236,049 — —
Restricted Cash And Investments 223,923 173,485 +29.1%
Show Debt Instrument breakouts
Private Education Loan term securitizations · Variable Interest Entity Primary Beneficiary 190,891 173,483 +10.0%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 190,891 173,483 +10.0%
Other Interest Earning Assets 101 3,383 -97.0%
Interest Receivable 1,532,051 1,553,979 -1.4%
Show Accounts Notes Loans And Financing Receivables By Industry Of Counterparty Type breakouts
Private Education Loans 1,530,851 1,558,465 -1.8%
Intangible Assets Net Including Goodwill 59,234 62,510 -5.2%
Income Tax Receivable 261,310 338,292 -22.8%
Other Assets 28,706 55,160 -48.0%
Show Debt Instrument breakouts
ABCP borrowings · Variable Interest Entity Primary Beneficiary 589 486 +21.2%
Private Education Loan term securitizations · Variable Interest Entity Primary Beneficiary 421,510 413,202 +2.0%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 422,099 412,716 +2.3%
Non-Current Liabilities
Long-Term Debt 5,670,293 6,147,473 -7.8%
Show Debt Instrument breakouts
Private Education Loan term securitizations · Secured Debt 5,176,476 5,157,945 +0.4%
Private Education Loan term securitizations · Secured Debt 4,471,435 4,389,633 +1.9%
Private Education Loan term securitizations · Secured Debt 705,041 768,312 -8.2%
Private Education Loan term securitizations · Variable Interest Entity Primary Beneficiary 5,176,476 5,157,945 +0.4%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 5,176,476 5,157,945 +0.4%
Show Long-Term Debt Type breakouts
Secured Debt 5,176,476 5,157,945 +0.4%
Unsecured Debt 493,817 989,528 -50.1%
Total Liabilities 26,971,959 26,498,328 +1.8%
Other Liabilities
Trading Securities Debt 45,817 53,732 -14.7%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level3 · Fair Value Measurements Recurring 45,817 51,296 -10.7%
Fair Value Inputs Level3 · Valuation Technique Discounted Cash Flow 45,817 51,296 -10.7%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 45,817 53,732 -14.7%
Estimate Of Fair Value Fair Value Disclosure 45,817 53,732 -14.7%
Show Fair Value By Measurement Frequency breakouts
Fair Value Measurements Recurring 45,817 53,732 -14.7%
Available For Sale Securities Debt Securities 1,744,224 1,656,977 +5.3%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 · Fair Value Measurements Recurring 1,742,510 1,654,505 +5.3%
Fair Value Inputs Level3 · Fair Value Measurements Recurring 1,714 2,472 -30.7%
Fair Value Inputs Level3 · Valuation Technique Discounted Cash Flow 1,714 2,472 -30.7%
Show Debt Instrument breakouts
Private Education Loan term securitizations · Variable Interest Entity Not Primary Beneficiary 598,019 549,949 +8.7%
Show Financial Instrument breakouts
2026 543,891 97,369 +458.6%
2027 98,668 66 +149397.0%
2038 62 530 -88.3%
2039 495 1,784 -72.3%
2042 1,517 3,326 -54.4%
2043 3,130 3,683 -15.0%
2044 3,138 3,955 -20.7%
2045 3,755 6,047 -37.9%
2046 5,739 5,695 +0.8%
2047 5,197 1,501 +246.2%
2048 1,484 12,869 -88.5%
2049 11,624 79,163 -85.3%
2050 75,143 111,537 -32.6%
2051 105,061 49,462 +112.4%
2052 43,762 286,533 -84.7%
2053 269,997 131,665 +105.1%
2054 113,484 105,006 +8.1%
2055 234,106 191,280 +22.4%
2056 191,900 — —
2058 32,071 38,519 -16.7%
Mortgage Backed Securities 501,672 480,423 +4.4%
Other Debt Securities 598,019 549,949 +8.7%
U.S. government-sponsored enterprises and Treasuries 642,560 624,355 +2.9%
Utah Housing Corporation bonds 1,973 2,250 -12.3%
Show Fair Value By Measurement Frequency breakouts
Fair Value Measurements Recurring 1,744,224 1,656,977 +5.3%
Deposits 20,525,486 20,073,168 +2.3%
Short Term Borrowings 498,889 — —
Show Debt Instrument breakouts
Senior Unsecured Notes Due November 2, 2026 · Unsecured Debt 499 — —
Show Long-Term Debt Type breakouts
Unsecured Debt 498,889 — —
Other Liabilities 277,291 277,687 -0.1%
Stockholders' Equity
Preferred Stock Value Outstanding 251,070 251,070 0.0%
Common Stock 89,086 88,566 +0.6%
Additional Paid-In Capital 1,224,442 1,209,017 +1.3%
Accumulated Other Comprehensive Income -38,049 -55,631 +31.6%
Retained Earnings 5,010,721 — —
Stockholders Equity Attributable To Parent Excluding Treasury Stock 6,537,270 5,879,191 +11.2%
Treasury Stock Common Value -4,099,638 -3,478,335 -17.9%
Total Stockholders' Equity 2,437,632 2,400,856 +1.5%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -38,049 -55,631 +31.6%
Additional Paid In Capital 1,224,442 1,209,017 +1.3%
Common Stock 89,086 88,566 +0.6%
Preferred Stock 251,070 251,070 0.0%
Retained Earnings 5,010,721 4,386,169 +14.2%
Treasury Stock Common -4,099,638 -3,478,335 -17.9%
Total Liabilities & Equity 29,409,591 28,899,184 +1.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Deferred Income Taxes 92,399 98,579 -6.3%
Amortization Of Brokered Deposit Placement 1,949 2,213 -11.9%
Amortization Of A B C P Upfront Loan Fees 735 584 +25.9%
Amortization Of Deferred Loan Origination Fees Net 4,279 3,806 +12.4%
Accretion Amortization Of Discounts And Premiums Investments -122 -327 +62.7%
Depreciation 4,329 3,953 +9.5%
Stock-Based Compensation 14,800 13,272 +11.5%
Other Non-Cash Items -239 4,093 -105.8%
Increase Decrease In Accrued Interest Receivable Net -298,127 -296,543 -0.5%
Increase Decrease In Equity Securities Fv Ni -130 — —
Payments For Proceeds From Other Interest Earning Assets 19 1,497 -98.7%
Increase Decrease In Other Operating Assets -1,175 -46,659 +97.5%
Increase Decrease In Accrued Income Taxes Payable -4,735 -11,493 +58.8%
Increase Decrease In Interest Payable Net -18,980 -26,984 +29.7%
Increase Decrease In Other Operating Liabilities -24,279 -42,714 +43.2%
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities -383,918 -450,591 +14.8%
Net Cash from Operations -75,964 -146,051 +48.0%
Investing Activities
Student Loans Acquired And Originated -2,803,165 -2,783,336 -0.7%
Net Proceeds From Loans Held For Investment And Loans Held For Sale 3,507,075 2,208,600 +58.8%
Net Decrease In Loans Held For Investment And Loans Held For Sale 866,782 774,483 +11.9%
Purchases of Investments -24,749 -38,174 +35.2%
Proceeds From Sale And Maturity Of Available For Sale Securities 43,220 335,355 -87.1%
Net Cash from Investing 1,589,163 496,928 +219.8%
Interest Costs Capitalized 134,818 116,022 +16.2%
Financing Activities
Cash Paid For Brokered Deposit Placement Fee -5,212 — —
Net Increase Decrease In Brokered Certificates Of Deposit 142,933 -889,195 +116.1%
Net Increase In N O W Account Deposits -674,306 -109,679 -514.8%
Borrowings Collateralized By Loans In Trust Issued 615,448 — —
Borrowings Collateralized By Loans In Trust Repaid -309,406 -288,840 -7.1%
Net Increase Decrease In Upfront Loan Fees -1 — —
Payments Of Dividends Common Stock -25,596 -27,466 +6.8%
Payments Of Dividends Preferred Stock And Preference Stock -3,555 -3,956 +10.1%
Share Repurchases -290,656 -29,696 -878.8%
Net Cash from Financing -550,351 -1,356,576 +59.4%
Supplemental
Interest Paid 287,340 300,605 -4.4%
Income Taxes Paid 4,640 11,366 -59.2%
Proceeds From Income Tax Refunds -73 -19 -284.2%
Other Cash Flow
Net Change in Cash 962,848 -1,005,699 +195.7%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 5,381,376 3,868,561 +39.1%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

This table is rendered from the same JSON returned by /api/financials.

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