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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest income:    
Loans $ 430,048 $ 324,757
Investments 1,947 2,143
Cash and cash equivalents 5,236 2,588
Total interest income 437,231 329,488
Interest expense:    
Deposits 77,456 44,853
Interest expense on short-term borrowings 2,393 1,236
Interest expense on long-term borrowings 24,768 15,323
Total interest expense 104,617 61,412
Net interest income 332,614 268,076
Less: provisions for credit losses 53,931 25,296
Net interest income after provisions for credit losses 278,683 242,780
Non-interest income:    
Gains (losses) on derivatives and hedging activities, net 3,892 (5,378)
Other income 9,642 11,346
Total non-interest income 13,534 5,968
Non-interest expenses:    
Compensation and benefits 68,317 55,464
FDIC assessment fees 8,796 7,229
Other operating expenses 47,761 39,984
Total operating expenses 124,874 102,677
Acquired intangible asset amortization expense 92 117
Total non-interest expenses 124,966 102,794
Income before income tax expense 167,251 145,954
Income tax expense 40,997 51,011
Net income 126,254 94,943
Preferred stock dividends 3,397 5,575
Net income attributable to SLM Corporation common stock $ 122,857 $ 89,368
Basic earnings per common share attributable to SLM Corporation (in dollars per share) $ 0.28 $ 0.21
Average common shares outstanding (in shares) 433,952 429,891
Diluted earnings per common share attributable to SLM Corporation (in dollars per share) $ 0.28 $ 0.20
Average common and common equivalent shares outstanding (in shares) 438,977 438,735