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Dec 31, 2020
SLM Q4 2020 Earnings Report
Reported GAAP net income attributable to common stock and core earnings net income attributable to common stock.
Key Takeaways
Sallie Mae reported a GAAP Net Income Attributable to Common Stock of $431 million, or $1.13 per diluted share, and a “Core Earnings” Net Income Attributable to Common Stock of $440 million, or $1.15 per diluted share for Q4 2020.
Net interest income of $367 million, down 13%.
Private education loan originations of $627 million, down 13%.
Private education loan provisions for credit losses was $(353) million, down from $82 million.
Reserve release of $206 million as a result of transferring $2.9 billion of loans to held-for-sale in Dec. 2020, in anticipation of Jan. 2021 sale; equivalent to $0.41 diluted earnings per common share for the full-year 2020.
SLM
SLM
SLM Revenue by Segment
Revenue by Segment
Net Interest Income Revenue
CapyFin.com Forward Guidance
For 2021, the company expects the following:
Positive Outlook
- Full-year diluted GAAP earnings per common share of $2.20 - $2.40.
- Full-year Private Education Loan originations year-over-year growth of 6% - 7%.
- Full-year total loan portfolio net charge-offs of $260 million - $280 million.
- Full-year non-interest expenses of $525 million - $535 million.