Financial Performance - GAAP diluted earnings per common share for Q2 2025 was $0.32, a decrease from $1.40 in Q1 2025 and $1.11 in Q2 2024[12] - The company reported a net income attributable to common stock of $67 million in Q2 2025, down from $247 million in Q2 2024[12] - Net income attributable to SLM Corporation common stock for the three months ended June 30, 2025, was $67,300 thousand, a decrease of 72.8% from $247,365 thousand in the same period of 2024[24] - Basic earnings per common share decreased to $0.32 for the three months ended June 30, 2025, down from $1.13 in the same period of 2024, representing a decline of 71.2%[24] Loan and Credit Metrics - Private education loan originations reached $686 million in Q2 2025, with a year-over-year growth expectation of 6% to 8% for the full year 2025[9] - Total net charge-offs as a percentage of average loans in repayment was 2.36% in Q2 2025, compared to 2.19% in Q2 2024[11] - The provision for credit losses was $149 million in Q2 2025, significantly higher than $17 million in Q2 2024[11] - Provisions for credit losses increased significantly to $148,718 thousand for the three months ended June 30, 2025, compared to $16,830 thousand in the same period of 2024, marking an increase of 786.5%[24] Income and Expenses - Non-interest expenses totaled $167 million in Q2 2025, an increase from $159 million in Q2 2024[12] - Net interest income after provisions for credit losses for the three months ended June 30, 2025, was $228,102 thousand, down 35.8% from $355,342 thousand in the same period of 2024[24] - Total non-interest income for the three months ended June 30, 2025, was $26,776 thousand, a decrease of 81.1% from $141,805 thousand in the same period of 2024[24] Balance Sheet Highlights - Total assets decreased to $29,602,917 thousand as of June 30, 2025, from $30,072,110 thousand on December 31, 2024, representing a decline of 1.56%[22] - Total liabilities decreased to $27,227,930 thousand as of June 30, 2025, from $27,912,190 thousand on December 31, 2024, a reduction of 2.5%[22] - Total equity increased to $2,374,987 thousand as of June 30, 2025, compared to $2,159,920 thousand on December 31, 2024, reflecting an increase of 9.9%[22] Shareholder Returns - The company has $302 million of capacity remaining under the 2024 Share Repurchase Program as of June 30, 2025[13] Capital Ratios - The total risk-based capital ratio was 12.8% with a CET1 capital ratio of 11.5% as of June 30, 2025[8] Loan Growth - The average loans outstanding, net, increased by 10% to $22.6 billion compared to Q2 2024[11] Interest Income - Total interest income increased to $656,759 thousand for the three months ended June 30, 2025, compared to $641,476 thousand in the prior year, reflecting a growth of 2.0%[24] Share Count - Average common shares outstanding decreased to 209,282 thousand for the three months ended June 30, 2025, from 218,924 thousand in the same period of 2024, a decline of 4.0%[24]
SLM Corporation(SLMBP) - 2025 Q2 - Quarterly Results