Sallie Mae reported second-quarter 2026 GAAP diluted earnings per common share of $0.29 and net income of $59 million. The company recorded $602 million of total interest income and net charge-offs of $113 million while private education loan originations rose 4.5% year-over-year. Management highlighted strategic balance-sheet actions including $420 million of private education loan sales and a $200 million accelerated share repurchase concluded in June.
Financial Highlights
- GAAP diluted earnings per common share: $0.29 for Q2 2026 (basic EPS also $0.29).
- Net income: $59 million for Q2 2026; net income attributable to common stock: $55 million (quarter).
- Total interest income: $602 million for Q2 2026; net interest income: $333 million.
- Net charge-offs: $113 million for Q2 2026; provision for credit losses: $126 million.
- Total non-interest expenses: $195 million for Q2 2026.
Business Highlights
- Private Education Loan originations increased 4.5% versus the year-ago quarter, reflecting growing customer demand.
- Average loans outstanding, net, were $21.1 billion during the quarter; Private Education Loans held for investment, net, ended at $19.53 billion as of June 30, 2026.
- Sold $420 million of Private Education Loans through strategic partnerships (including $399 million principal and $21 million capitalized interest).
- Completed a $200 million accelerated share repurchase program in June 2026 (final delivery of 0.9 million shares in Q2), leaving $242 million capacity under the 2026 share repurchase program as of June 30.
- Issued $500 million of unsecured senior notes in May 2026 and used proceeds to complete a cash tender offer and satisfy outstanding notes due November 2026; paid a quarterly common dividend of $0.13 per share on June 15, 2026.
Original SEC Filing:
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