Salliemae(US:SLM)2025-10-23 20:31Financial Performance - GAAP diluted earnings per common share for Q3 2025 were $0.63, an increase from $0.32 in Q3 2024[15] - Net income attributable to SLM Corporation common stock was $131,856 thousand for the three months ended September 30, 2025, compared to a loss of $49,800 thousand in the same period of 2024, marking a turnaround[27] - Basic earnings per common share for the three months ended September 30, 2025, was $0.64, compared to a loss of $0.23 in the same period of 2024, indicating a strong recovery[27] Loan and Credit Metrics - Private education loan originations grew by 6% year-over-year, with a total of $655 million to $675 million expected for the full year 2025[9] - Total net charge-offs as a percentage of average loans in repayment were 1.95%, down from 2.08% in Q3 2024[12] - Provisions for credit losses in Q3 2025 were $179 million, a decrease from $267 million in Q3 2024[12] - Average loans outstanding increased to $22.3 billion, up 9% from Q3 2024[12] - Loans held for investment increased to $21,615,067 thousand as of September 30, 2025, compared to $20,902,158 thousand at December 31, 2024, an increase of 3.41%[25] Income and Expenses - The net interest margin for Q3 2025 was 5.18%, an increase of 18 basis points from Q3 2024[9] - Total interest income for the nine months ended September 30, 2025, was $1,970,436 thousand, slightly up from $1,957,673 thousand in the same period of 2024, an increase of 0.65%[27] - Total non-interest income for the nine months ended September 30, 2025, was $405,522 thousand, up from $340,486 thousand in the same period of 2024, an increase of 19.14%[27] - Total non-interest expenses for Q3 2025 were $180 million, compared to $172 million in Q3 2024[13] Shareholder Returns - The company declared a common stock dividend of $0.13 per share in Q3 2025[10] - Declared dividends per common share increased to $0.13 for the three months ended September 30, 2025, compared to $0.11 in the same period of 2024, a rise of 18.18%[27] - The company repurchased 5.6 million shares for $166 million in Q3 2025, with $138 million remaining under the 2024 Share Repurchase Program[7][16] Balance Sheet Highlights - Total assets decreased to $29,605,422 thousand as of September 30, 2025, from $30,072,110 thousand at December 31, 2024, representing a decline of 1.55%[25] - Total liabilities decreased to $27,264,124 thousand as of September 30, 2025, from $27,912,190 thousand at December 31, 2024, a reduction of 2.33%[25] - Total equity increased to $2,341,298 thousand as of September 30, 2025, from $2,159,920 thousand at December 31, 2024, an increase of 8.39%[25] Other Financial Metrics - The return on assets (ROA) was 1.9%, up from 1.0% in the previous year[15] - Net interest income after provisions for credit losses increased to $193,515 thousand for the three months ended September 30, 2025, compared to $87,938 thousand for the same period in 2024, a significant increase of 120%[27]