Slide 1: SLM Corporation Earnings Presentation Second Quarter 2022
SLM Corporation Earnings Presentation Second Quarter 2022 sallie mae’ July 28, 2022
Slide 2: Forward-Looking Statements and Disclaimer
Forward-Looking Statements and Disclaimer Ir sallie mae Cautionary Note Regarding Forward-Looking Statements } | The following information is current as of July 27, 2022 (unless otherwise noted) and should be read in connection with the press release of SLM Corporation (the “Company”) announcing its
Slide 3: Strong Return to Campus; Strong Strategic Execution
ily sallie mae Strong Return to Campus | + Through July 1, 2022, FAFSA completion for the high school class of 2022 has returned to near pre-pandemic numbers with 52.1% of the senior class completing the application (4.6% increase year over year).'5 - Through the first half of the year, our undercla
Slide 4: Originations Statistics
Originations Statistics ($) 2018 2019 2020 2021 Q2 2022 Q2 2021 % Cosigned 87% 87% 86% 86% 74% 76% % In School Payment 57% 58% 60% 59% 56% 57% Average FICO at Approval10 746 746 749 750 746 750
Slide 5: Pursued a Simple Yet Powerful Strategy
Over the Last 21 Months, Sallie Mae Has Pursued a Simple Yet Powerful Strategy Strategic Imperatives: 1. [ant Maximize the profitability and growth of our core business 3. (J Better inform the external narrative about private student lending and Sallie Mae Develop & nurture a mission-led culture
Slide 6: Revenue, Total Operating Expenses, Earnings/Capital
Revenue • • Total Operating Expenses • Earnings/Capital • • • •
Slide 7: Quarterly Financial Highlights
Quarterly Financial Highlights? bcoz | 202 | 2371 | Lace | 2022 | 2071 Income Statement ($ Millions) Key Performance Metrics Total interest income $463 $465 $435 Net Interest Margin 5.29% 5.29% 4.70% Total interest expense 100 80 96 Yield—Total Interest-earning assets 6.75% 6.56% 6.03% Net Interest
Slide 8: Credit Performance
Credit Performance": 2. 13, 16 calle, Private Education Loans Held for Investment Quarters Ended June 30, 2022 March 31, 2022 June 30, 2021 ($ Thousands) Balance % Balance % Balance % Loans in repayment and percentage of each status: Loans current $13,980,810 96.3% $15,530,080 96.5% $ 14,514,659 97.
Slide 9: Guidance
Guidance“ salle mae For the full-year 2022, the Company expects: $2.50-$2.70 9%-11% Diluted Non-GAAP “Core Earnings” Private Education Loan Per Common Share Originations Year-Over-Year Growth $325 million - $555 million - $345 million $565 million Total Loan Portfolio Non-Interest Net Charge-Offs Ex
Slide 10: Footnotes
Footnotes rll, 13. 14. Derivative Accounting: we provide non-GAAP “Core Earnings” because it is one of several measures management uses to evaluate management performance and allocate corporate resources. Non-GAAP “Core Earnings” exclude periodic unrealized gains and losses caused by the mark-to-fai
Slide 11: Footnotes (continued)
Footnotes (continued) cli, 15. NASFAA.ORG “FAFSA Completion on the Rise, With Universal Completion Policies Showing Strong Gains” by Hugh T. Ferguson 7/14/22 16. For some students, going back to school in the fall of 2020 was not an option because of the pandemic, or for other reasons. Therefore, so
Slide 12: Non-GAAP Core Earnings to GAAP Reconciliation
Non-GAAP “Core Earnings” to GAAP Reconciliation ‘$ in thousands, except per share amounts) Jun. 30, 2022 Non-GAAP “Core Earnings” adjustments to GAAP: GAAP net income $342,073 $128,812 $140,201 Preferred stock dividends $1,757 $1,275 $1,192 GAAP net income attributable to SLM Corporation common stoc