Slm Corporation · NASDAQ:SLM
Slm — Q1 2024 Earnings Presentation
10 slides from Slm's earnings presentation, Apr 24, 2024
Slide 1: Earnings Presentation 1st Quarter 2024
Earnings Presentation 1st Quarter 2024 Confidential and proprietary information. © 2024 Sallie Mae Bank. All rights reserved. 1
Slide 2: Cautionary Note and Disclaimer Regarding Forward Looking Statements
CAUTIONARY NOTE AND DISCLAIMER REGARDING FORWARD LOOKING STATEMENTS The following information is current as of April 24, 2024 (unless otherwise noted) and should be read in connection with the press release of SLM Corporation announcing its financial results for the quarter ended March 31, 2024, the
Slide 3: 1st Quarter 2024 Highlights
Balance Sheet & Capital Allocation $2.6B 6.1% 1st Quarter 2024 Private Education Loan Originations in Q1 2024 as Private Education Loan allowance as a percentage of Highlights compared to $2.4 billion in the year-ago quarter; 6% the ending total loan balance and accrued interest to growth year-over-
Slide 4: Additional Key Performance Metrics
Loan Sales Funding & Liquidity Additional Key Performance $2.1B Deposit portfolio balances at the end of Q1 2024 were 2% Metrics Private Education Loans, including $1.95 billion of 3% lower than YE 2023; Q1 2024 mix of brokered vs. retail Uninsured deposits as a percentage of total deposits as princ
Slide 5: Private Education Loan Trends
Average FICO In School Cosigned Private Private Education Loan Originations(1) at Approval(2) Payment Education Loan Trends Q1 Full Year 2024 * $2,582 First quarter 2024 originations at approximately $2.6 billion, 6% 6% higher than the year-ago quarter. Q1 2024 Application and 2023 $2,441 $6,383 748
Slide 6: Quarterly Financial Highlights
Quarterly Financial Highlights (3) Q1 Q4 Q1 Q1 Q4 Q1 2024 2023 2023 2024 2023 2023 Income Statement ($ Millions) Key Performance Metrics Total interest income $664 $669 $638 Net Interest Margin 5.49% 5.37% 5.70% Total interest expense 277 283 233 Net Interest Income 387 386 405 Yield—Total Interest-
Slide 7: Credit Performance
Credit Performance (6)(7)(8)(9) Private Education Loans Held for Investment Quarters Ended MAR. 31, 2024 DEC. 31, 2023 MAR. 31, 2023 ($ Thousands) Balance % Balance % Balance % Loans in repayment and percentage of each status: Loans current $ 14,451,606 96.6% $ 14,809,271 96.1% $ 15,446,182 96.6% Lo
Slide 8: Allowance for Credit Losses
Allowance for Credit Losses Consolidated Statements of Income – Provision for Credit Losses Reconciliation Factors affecting Quarter Ended the Provision for March 31, 2024 Credit Losses 1st ($ THOUSANDS) BALANCE Quarter 2024 Private Education Loan provision for credit losses: Provision for loan loss
Slide 9: 2024 Guidance
For the full year 2024, the Company expects: 2024 Guidance * $2.60 - $2.70 7% - 8% GAAP Diluted Earnings Private Education Loan Originations Per Common Share** Year-over-Year Growth $340 - $370 million, or $635 - $655 million 2.2% - 2.4% (12) Non-Interest Expenses Total Loan Portfolio Net Charge-Off
Slide 10: Footnotes
Footnotes 1. Originations represent loans that were funded or acquired during the period presented. 2. Represents the higher credit score of the cosigner or the borrower. 3. We prepare financial statements in accordance with GAAP. However, we previously also produced and reported our after-tax earni