Slide 1: Earnings Presentation Second Quarter 2019
° SLM Corporation sallie _ Earnings Presentation Ma€ Second Quarter 2019 July 25, 2019
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements The following information is current as of July 24, 2019 (unless otherwise noted) and should be read in connection with the press release of SLM Corporation (the “Company”) announcing its financial results for the quarter ended June 30, 2019, file
Slide 3: Earnings, Assets and Capital Highlights
Earnings • Q2 2019 GAAP diluted earnings per common share increased 42% over Q2 2018 Assets • Originated $532 million in Private Education Loans in Q2 2019 (+9% vs. Q2 18) • Private Education Loan Portfolio of $21.4 billion (+16% vs. Q2 2018) • Originated $126 million in Personal Loans in Q2 2019 Ca
Slide 4: Quarterly Financial Highlights
Quarterly Financial Highlights? 2Q 2019 1Q 2019 2Q 2018 2Q 2019 1Q 2019 2Q 2018 Income Statement ($ millions’ Key Performance Metrics Total interest income $574 $566 $462 Total interest expense 177 164 121 Net Interest Margin 5.88% 6.28% 6.14% Net interest income 397 402 341 Yield- Total interest-ea
Slide 5: Originations ($MM)
$6,000 $5,700 7% $5,500 $5,315 11% $5,000 $4,800 $4,666 3% 8% $4,500 $4,330 $4,000 Originations ($MM) $3,500 $3,000 $2,663 8% $2,500 $2,459 $2,000 $1,500 $1,000 $500 $0 2015 2016 2017 2018 2019 Actuals Forecast 5
Slide 6: Credit Performance
Credit Performance" 2.13 Private Education Loans ($ Thousands) Loans in repayment and percentage of each status: Loans current Loans delinquent 31-60 days Loans delinquent 61-90 days Loans delinquent greater than 90 days Total private education loans in repayment Loans delinquent 30+ days (as a % of
Slide 7: 2019 Outlook
• Full-year Diluted Core EPS1: $1.21- $1.23 • 2019 Private Education Loan Originations: $5.7 billion • Full-year Non-GAAP Operating Efficiency Ratio4: 35% - 36% 7
Slide 8: Footnotes: Derivative Accounting and Core Earnings
1. Derivative Accounting: we provide “Core Earnings” because it is one of several measures management uses to evaluate management performance and allocate corporate resources. “Core Earnings” exclude periodic unrealized gains and losses caused by the mark-to-fair value valuations on derivatives that
Slide 9: "Core Earnings" to GAAP Reconciliation
“Core Earnings” to GAAP Reconciliation Quarters Ended June 30, Mar. 31, June 30, 2019 2019 2018 (Dollars in thousands, except per share amounts) “Core Earnings” adjustments to GAAP: GAAP net income. ...............0..ccecceeseeeeeeeeeeeteeeeeeeeees $ 150,277 $ 158,189 $ 109,832 Preferred stock divid