XML 55 R44.htm IDEA: XBRL DOCUMENT v3.21.2
Allowance for Credit Losses - Allowance and Recorded Investments in Loans (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Allowance for Credit Losses            
Beginning balance $ 1,160,244 $ 1,929,323 $ 1,361,723 $ 441,912 $ 441,912  
Transfer from unfunded commitment liability   100,470 262,049 279,555    
Provision for current period (6,530) (90,014) (260,335) 338,120    
Loan sale reduction to provision 0 (42,916) (10,335) (204,709)    
Loan transfer from held-for-sale     1,887      
Total provisions (6,530) (132,930) (268,783) 133,411    
Net charge-offs:            
Charge-offs (56,225) (60,666) (161,569) (178,120)    
Recoveries 7,305 6,896 21,987 23,282    
Net charge-offs (48,920) (53,770) (139,582) (154,838)    
Loan sales     (108,534) (108,534)    
Ending Balance 1,215,407 1,734,559 1,215,407 1,734,559 1,361,723  
Allowance            
Ending balance: individually evaluated for impairment 69,626 138,663 69,626 138,663    
Ending balance: collectively evaluated for impairment 1,145,781 1,595,896 1,145,781 1,595,896    
Loans:            
Ending balance: individually evaluated for impairment 1,148,282 1,495,161 1,148,282 1,495,161    
Ending balance: collectively evaluated for impairment 21,278,012 21,876,262 21,278,012 21,876,262    
Provisions for loan losses (6,995) (81,710) (269,371) 134,374    
Provisions for unfunded loan commitments 144,972 129,290 251,135 276,094    
Total Private Education Loan provisions for credit losses 137,977 47,580 (18,236) 410,468    
Private Education Loan provision for credit losses, other impacts 465 (51,220) 588 (963)    
Less: provisions for credit losses 138,442 (3,640) (17,648) 409,505    
Cumulative Effect, Period Of Adoption, Adjustment            
Allowance for Credit Losses            
Beginning balance       1,584,965 1,584,965  
Day 1 adjustment for the adoption of CECL           $ 1,143,053
Transfer from unfunded commitment liability 110,613          
FFELP Loans            
Allowance for Credit Losses            
Beginning balance 4,262 4,385 4,378 1,633 1,633  
Transfer from unfunded commitment liability   0 0 0    
Provision for current period 50 67 77 277    
Loan sale reduction to provision 0 0 0 0    
Loan transfer from held-for-sale     0      
Total provisions 50 67 77 277    
Net charge-offs:            
Charge-offs (106) (89) (249) (399)    
Recoveries 0 0 0 0    
Net charge-offs (106) (89) (249) (399)    
Loan sales     0 0    
Ending Balance 4,206 4,363 4,206 4,363 4,378  
Allowance            
Ending balance: individually evaluated for impairment 0 0 0 0    
Ending balance: collectively evaluated for impairment 4,206 4,363 4,206 4,363    
Loans:            
Ending balance: individually evaluated for impairment 0 0 0 0    
Ending balance: collectively evaluated for impairment $ 705,691 $ 745,556 $ 705,691 $ 745,556    
Net charge-offs as a percentage of average loans in repayment (annualized) 0.08% 0.07% 0.06% 0.10%    
Allowance as a percentage of the ending total loan balance 0.60% 0.59% 0.60% 0.59%    
Allowance as a percentage of the ending loans in repayment 0.79% 0.77% 0.79% 0.77%    
Allowance coverage of net charge-offs (annualized) 9.92 12.26 12.67 8.20    
Ending total loans, gross $ 705,691 $ 745,556 $ 705,691 $ 745,556    
Average loans in repayment 540,018 510,809 547,394 546,443    
Ending loans in repayment 530,476 564,442 530,476 564,442    
Private Education Loan provision for credit losses, other impacts 50 67 77 277    
FFELP Loans | Cumulative Effect, Period Of Adoption, Adjustment            
Allowance for Credit Losses            
Beginning balance       4,485 4,485  
Day 1 adjustment for the adoption of CECL           2,852
Transfer from unfunded commitment liability 0          
Private Education Loans            
Allowance for Credit Losses            
Beginning balance 1,154,540 1,760,559 1,355,844 374,300 374,300  
Transfer from unfunded commitment liability   100,470 262,049 279,555    
Provision for current period (6,995) (81,710) (260,923) 296,167    
Loan sale reduction to provision 0 0 (10,335) (161,793)    
Loan transfer from held-for-sale     1,887      
Total provisions (6,995) (81,710) (269,371) 134,374    
Net charge-offs:            
Charge-offs (56,000) (55,298) (161,039) (138,546)    
Recoveries 7,302 4,790 21,977 18,298    
Net charge-offs (48,698) (50,508) (139,062) (120,248)    
Loan sales     0 0    
Ending Balance 1,209,460 1,728,811 1,209,460 1,728,811 1,355,844  
Allowance            
Ending balance: individually evaluated for impairment 69,626 138,663 69,626 138,663    
Ending balance: collectively evaluated for impairment 1,139,834 1,590,148 1,139,834 1,590,148    
Loans:            
Ending balance: individually evaluated for impairment 1,148,282 1,495,161 1,148,282 1,495,161    
Ending balance: collectively evaluated for impairment $ 20,554,555 $ 21,119,166 $ 20,554,555 $ 21,119,166    
Net charge-offs as a percentage of average loans in repayment (annualized) 1.29% 1.33% 1.25% 1.05%    
Allowance as a percentage of the ending total loan balance 5.57% 7.64% 5.57% 7.64%    
Allowance as a percentage of the ending loans in repayment 7.81% 10.91% 7.81% 10.91%    
Allowance coverage of net charge-offs (annualized) 6.21 8.56 6.52 10.78    
Ending total loans, gross $ 21,702,837 $ 22,614,327 $ 21,702,837 $ 22,614,327    
Average loans in repayment 15,108,802 15,182,703 14,877,937 15,336,253    
Ending loans in repayment 15,490,132 15,853,309 15,490,132 15,853,309    
Private Education Loans | Cumulative Effect, Period Of Adoption, Adjustment            
Allowance for Credit Losses            
Beginning balance       1,435,130 1,435,130  
Day 1 adjustment for the adoption of CECL           1,060,830
Transfer from unfunded commitment liability 110,613          
Personal Loans            
Allowance for Credit Losses            
Beginning balance   163,337   65,877 65,877  
Transfer from unfunded commitment liability   0   0    
Provision for current period   (8,762)   40,485    
Loan sale reduction to provision   (42,916)   (42,916)    
Total provisions   (51,678)   (2,431)    
Net charge-offs:            
Charge-offs   (5,231)   (39,079)    
Recoveries   2,106   4,984    
Net charge-offs   (3,125)   (34,095)    
Loan sales     (108,534) (108,534)    
Ending Balance   0   0    
Allowance            
Ending balance: individually evaluated for impairment   0   0    
Ending balance: collectively evaluated for impairment   0   0    
Loans:            
Ending balance: individually evaluated for impairment   0   0    
Ending balance: collectively evaluated for impairment   $ 0   $ 0    
Net charge-offs as a percentage of average loans in repayment (annualized)   0.00%   0.00%    
Allowance as a percentage of the ending total loan balance   0.00%   0.00%    
Allowance as a percentage of the ending loans in repayment   0.00%   0.00%    
Allowance coverage of net charge-offs (annualized)   0   0    
Ending total loans, gross   $ 0   $ 0    
Average loans in repayment   0   0    
Ending loans in repayment   0   0    
Private Education Loan provision for credit losses, other impacts   (51,678)   (2,431)    
Personal Loans | Cumulative Effect, Period Of Adoption, Adjustment            
Allowance for Credit Losses            
Beginning balance       145,060 145,060  
Day 1 adjustment for the adoption of CECL           79,183
Credit Cards            
Allowance for Credit Losses            
Beginning balance 1,442 1,042 1,501 102 102  
Transfer from unfunded commitment liability   0 0 0    
Provision for current period 415 391 511 1,191    
Loan sale reduction to provision 0 0 0 0    
Loan transfer from held-for-sale     0      
Total provisions 415 391 511 1,191    
Net charge-offs:            
Charge-offs (119) (48) (281) (96)    
Recoveries 3 0 10 0    
Net charge-offs (116) (48) (271) (96)    
Loan sales     0 0    
Ending Balance 1,741 1,385 1,741 1,385 1,501  
Allowance            
Ending balance: individually evaluated for impairment 0 0 0 0    
Ending balance: collectively evaluated for impairment 1,741 1,385 1,741 1,385    
Loans:            
Ending balance: individually evaluated for impairment 0 0 0 0    
Ending balance: collectively evaluated for impairment $ 17,766 $ 11,540 $ 17,766 $ 11,540    
Net charge-offs as a percentage of average loans in repayment (annualized) 3.07% 1.73% 2.75% 1.51%    
Allowance as a percentage of the ending total loan balance 9.80% 12.00% 9.80% 12.00%    
Allowance as a percentage of the ending loans in repayment 9.80% 12.00% 9.80% 12.00%    
Allowance coverage of net charge-offs (annualized) 3.75 7.21 4.82 10.82    
Ending total loans, gross $ 17,766 $ 11,540 $ 17,766 $ 11,540    
Average loans in repayment 15,098 11,103 13,136 8,499    
Ending loans in repayment 17,766 11,540 17,766 11,540    
Private Education Loan provision for credit losses, other impacts 415 $ 391 $ 511 1,191    
Credit Cards | Cumulative Effect, Period Of Adoption, Adjustment            
Allowance for Credit Losses            
Beginning balance       $ 290 $ 290  
Day 1 adjustment for the adoption of CECL           $ 188
Transfer from unfunded commitment liability $ 0