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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest income:        
Loans $ 162,238 $ 122,212 $ 322,273 $ 253,781
Investments 2,236 5,638 3,204 11,624
Cash and cash equivalents 1,099 1,038 1,965 1,770
Total interest income 165,573 128,888 327,442 267,175
Interest expense:        
Deposits 21,034 21,439 43,624 44,008
Other interest expense 0 32 41 49
Total interest expense 21,034 21,471 43,665 44,057
Net interest income 144,539 107,417 283,777 223,118
Less: provisions for loan losses 1,014 (1,015) 40,173 19,677
Net interest income after provisions for loan losses 143,525 108,432 243,604 203,441
Noninterest income:        
Gains on sales of loans to affiliates, net 1,928 73,441 35,816 148,663
(Losses) gains on derivatives and hedging activities, net (9,458) (52) (10,222) 558
Other 15,229 8,665 23,365 16,465
Total noninterest income 7,699 82,054 48,959 165,686
Expenses:        
Compensation and benefits 31,667 26,821 61,334 56,585
Other operating expenses 28,812 39,772 62,744 70,602
Total operating expenses 60,479 66,593 124,078 127,187
Acquired intangible asset impairment and amortization expense 1,156 714 2,995 1,428
Restructuring and other reorganization expenses 13,520 84 13,749 107
Total expenses 75,155 67,391 140,822 128,722
Income before income tax expense 76,069 123,095 151,741 240,405
Income tax expense 31,941 46,973 60,599 91,738
Net income 44,128 76,122 91,142 148,667
Less: net loss attributable to noncontrolling interest 0 (347) (434) (686)
Net income attributable to SLM Corporation 44,128 76,469 91,576 149,353
Preferred stock dividends 3,228 0 3,228 0
Net income attributable to SLM Corporation common stock $ 40,900 $ 76,469 $ 88,348 $ 149,353
Basic earnings per common share attributable to SLM Corporation (in dollars per share) $ 0.10 $ 0.17 $ 0.21 $ 0.34
Average common shares outstanding, basic (in shares) 422,805 439,972 424,751 445,309
Diluted earnings per common share attributable to SLM Corporation (in dollars per share) $ 0.09 $ 0.17 $ 0.20 $ 0.33
Average common and common equivalent shares outstanding (in shares) 430,750 448,064 432,689 453,231