Selected Quarterly Financial Information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

2023
(Dollars in thousands, except per share data)	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
Net interest income	$	405,068	$	386,631	$	384,628	$	385,886
Less: provisions for credit losses	114,112		17,729		198,023		15,599
Net interest income after provisions for credit losses	290,956		368,902		186,605		370,287
Gains (losses) on sales of loans, net	(9)		124,754		(5)		35,550
Gains (losses) on securities, net	1,711		(1,213)		1,490		690
Other income	20,009		20,513		22,753		20,873
Total operating expenses	154,539		154,164		167,402		143,101
Acquired intangible assets impairment and amortization expense	2,272		2,245		2,834		59,013
Income tax expense	37,338		91,482		11,242		56,843
Net income	118,518		265,065		29,365		168,443
Preferred stock dividends	4,063		4,274		4,642		4,726
Net income attributable to SLM Corporation common stock	$	114,455	$	260,791	$	24,723	$	163,717
Basic earnings per common share(1)	$	0.47	$	1.11	$	0.11	$	0.73
Diluted earnings per common share(1)	$	0.47	$	1.10	$	0.11	$	0.72
Declared dividends per common share	$	0.11	$	0.11	$	0.11	$	0.11

(1) Basic and diluted earnings per common share attributable to SLM Corporation are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted earnings per common share information may not equal annual basic and diluted earnings per common share.

2022
	First		Second		Third		Fourth
(Dollars in thousands, except per share data)	Quarter		Quarter		Quarter		Quarter
Net interest income	$	375,032	$	362,808	$	369,510	$	381,431
Less: provisions for credit losses	98,050		30,545		207,598		297,260
Net interest income after provisions for credit losses	276,982		332,263		161,912		84,171
Gains on sales of loans, net	9,881		239,997		74,978		2,894
Gains (losses) on securities, net	(3,580)		667		891		(58,245)
Gains (losses) on derivative and hedging activities, net	(5)		—		—		—
Other income	15,629		17,589		19,234		14,708
Total operating expenses	132,006		131,730		149,964		137,762
Acquired intangible assets amortization expense	733		2,417		2,328		2,301
Income tax expense (benefit)	37,356		114,296		29,551		(19,492)
Net income (loss)	128,812		342,073		75,172		(77,043)
Preferred stock dividends	1,275		1,757		2,531		3,466
Net income (loss) attributable to SLM Corporation common stock	$	127,537	$	340,316	$	72,641	$	(80,509)
Basic earnings (loss) per common share(1)	$	0.46	$	1.30	$	0.29	$	(0.33)
Diluted earnings (loss) per common share(1)	$	0.45	$	1.29	$	0.29	$	(0.33)
Declared dividends per common share	$	0.11	$	0.11	$	0.11	$	0.11

(1) Basic and diluted earnings (loss) per common share attributable to SLM Corporation are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted earnings (loss) per common share information may not equal annual basic and diluted earnings (loss) per common share.