Slide 1: Earnings Presentation 2nd Quarter 2024
Earnings Presentation 2nd 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 July 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 June 30, 2024, the F
Slide 3: 2nd Quarter 2024 Highlights
Balance Sheet & Capital Allocation $691M $1.6B 2ndQuarter Private Education Loan Sale of Private Education 2024 Highlights Originations in Q2 2024 as Loans in Q2 2024. compared to $651 million in the year-ago quarter; 6% growth year-over-year. $0.11 51% (4) 14.7% Common stock dividend paid in Q2 Ret
Slide 4: Additional Key Performance Metrics
Loan Sales Funding & Liquidity Additional Key Performance $1.6B Deposit portfolio balances at the end of Q2 2024 were 1% 2% Metrics Private Education Loans, including $1.47 billion of lower than at the end of Q1 2024; Q2 2024 mix of brokered vs. retail Uninsured deposits as a percentage of total dep
Slide 5: Private Education Loan Trends
Private In School Cosigned Private Education Loan Originations(1) Average FICO at Approval(2) Payment Education Q2 Loan Trends * Full Year 2024 $3,273 Second quarter 2024 originations YTD at approximately $691 million, 6% 6% higher than the year-ago quarter. 2023 $3,093 $6,383 748 56% 87% Originatio
Slide 6: Quarterly Financial Highlights
Quarterly Financial Highlights Q2 Q1 Q2 Q2 Q1 Q2 2024 2024 2023 2024 2024 2023 Income Statement ($ Millions) Key Performance Metrics Total interest income $641 $664 $634 Net Interest Margin 5.36% 5.49% 5.52% Total interest expense 269 277 247 Net Interest Income 372 387 387 Yield—Total Interest-earn
Slide 7: Credit Performance
Credit Performance (5)(6)(7)(8) Private Education Loans Held for Investment JUN 30, 2024 MAR 31, 2024 JUN 30, 2023 ($ Thousands) Balance % Balance % Balance % Loans in repayment and percentage of each status: Loans current $ 13,756,538 96.7% $ 14,451,606 96.6% $ 14,113,105 96.3% Loans delinquent 30-
Slide 8: Allowance for Credit Losses
Allowance for Credit Losses Consolidated Statements of Income – Provision for Credit Losses Reconciliation Factors affecting the Provision for Credit Losses 2nd Quarter Ended June 30, 2024 ($ THOUSANDS) BALANCE Quarter 2024 Private Education Loan provision for credit losses: Provision for loan losse
Slide 9: 2024 Guidance
For the full year 2024, the Company expects: 2024 Guidance * $2.70 - $2.80 7% - 8% GAAP Diluted Earnings Private Education Loan Originations Per Common Share Year-over-Year Growth $325 - $345 million, or $635 - $655 million 2.1% - 2.3% (12) Non-Interest Expenses Total Loan Portfolio Net Charge-Offs
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 calculate and report our Return on Assets (“ROA”) as the ratio of (a) GAAP net income (loss) numerator (annualized) to (b)