SLM Corporation Q4 GAAP diluted EPS up 29% to USD 1.12 with net interest margin at 5.21%

Reuters01-23
SLM Corporation Q4 GAAP diluted EPS up 29% to USD 1.12 with net interest margin at 5.21%

SLM Corporation (Nasdaq: SLM), also known as Sallie Mae, reported its financial results for the fourth quarter (Q4) and full year (FY) 2025. For FY 2025, GAAP diluted earnings per common share reached 3.46. Private education loan originations increased by 6% over the year. The company repurchased 12.8 million shares in 2025 for USD 373 million. Total net charge-offs as a percentage of average loans in repayment stood at 2.15%. Non-interest expenses for the year totaled USD 659 million. For Q4 2025, GAAP diluted earnings per common share were 1.12. Private education loan originations rose by 4% during the quarter. SLM Corporation repurchased 3.8 million shares in Q4 for USD 106 million. Total net charge-offs as a percentage of average loans in repayment (annualized) were 2.42%. Non-interest expenses for the quarter amounted to USD 157 million. Net interest margin for Q4 was 5.21%, while the efficiency ratio was 34.6%. The company recorded a gain of USD 45 million on the sale of loans and reported a USD 19 million negative provision for credit losses in Q4. SLM Corporation’s board approved a new USD 500 million share repurchase program. For FY 2026, the company expects GAAP diluted earnings per common share in the range of 2.70 to 2.80, private education loan originations growth of 12% to 14% year-over-year, net charge-offs between USD 345 million and USD 385 million, and non-interest expenses between USD 750 million and USD 780 million.

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