Salliemae(US:SLM)2024-07-24 23:07Financial Performance - GAAP net income attributable to common stock was $247 million in Q2 2024[5] - Q2 2024 GAAP diluted earnings per common share was $111[5] - Net interest margin for Q2 2024 was 536%, down from 552% in Q2 2023[5] - Return on Common Equity was 51% for the quarter ended June 30, 2024[4] - Gain on sale of loans in Q2 2024, coupled with related allowance release, resulted in $072 of diluted earnings per common share[6] Loan Origination and Sales - Private education loan originations in Q2 2024 were $691 million, a 6% increase year-over-year compared to $651 million in the year-ago quarter[4] - The company executed $16 billion in private education loan sales in Q2 2024[4, 8] Balance Sheet and Capital Allocation - A common stock dividend of $011 was paid in Q2 2024[3] - 29 million shares were repurchased in Q2 2024 at an average price of $2117 per share[5] - $562 million of capacity was left under the repurchase program authorization as of June 30, 2024[5] - Total risk-based capital ratio was 147%, with a CET1 capital ratio of 134%[4] Credit Performance - Private Education Loan net charge-offs for Q2 2024 were $80 million, representing 22% of average loans in repayment (annualized), compared with 27% in Q2 2023[15]