Salliemae(SLM) - 2025 Q1 - Quarterly Results

Financial Performance - Sallie Mae reported GAAP diluted earnings per common share of $1.40 for Q1 2025, a 10.2$1.27 in Q1 2024[13]. - Net income for the three months ended March 31, 2025, was $304,540 thousand, an increase of 5.1$289,931 thousand for the same period in 2024[24]. - Basic earnings per common share increased to $1.43 for the first quarter of 2025, compared to$1.29 for the same period in 2024, representing an increase of 10.8%[24]. - The company expects full-year 2025 GAAP diluted earnings per common share to be in the range of $3.00 to$3.10[9]. Loan Performance - Private education loan originations grew by 7% year-over-year, totaling $655 million to$675 million for the full year 2025 guidance[9]. - The average loans outstanding in the private education loan portfolio increased to $22.9 billion, up 7$656,090 thousand, slightly down from $663,558 thousand in the same quarter of 2024, a decrease of 1.1$351,684 thousand, down from $374,975 thousand, reflecting a decrease of 6.2$206,044 thousand for the three months ended March 31, 2025, up from $174,158 thousand, an increase of 18.3$155 million, an increase from $162 million in Q1 2024[13]. Provisions and Credit Losses - Provisions for credit losses increased to$23 million in Q1 2025, compared to $12 million in Q1 2024[11]. - The company reported provisions for credit losses of$23,286 thousand for the first quarter of 2025, compared to $12,041 thousand in the same period of 2024, indicating an increase of 93.5$31 million in Q1 2025, with $372 million capacity remaining under the 2024 Share Repurchase Program[7][14]. - Declared dividends per common share increased to$0.13 for the first quarter of 2025, compared to $0.11 in the same period of 2024, reflecting an increase of 18.2$28,899,184 thousand as of March 31, 2025, down from $30,072,110 thousand at December 31, 2024, representing a decline of approximately 3.9$26,498,328 thousand as of March 31, 2025, from $27,912,190 thousand at December 31, 2024, a reduction of approximately 5.1$20,073,168 thousand as of March 31, 2025, down from $21,068,568 thousand at December 31, 2024, a decline of approximately 4.7%[23]. Interest Margin - The net interest margin for Q1 2025 was reported at 5.27%, a decrease of 22 basis points from Q1 2024[13].