Sallie Mae Reports Fourth-Quarter and Full-Year 2020 Financial Results

Fourth-Quarter GAAP Net Income Attributable to Common Stock of $431 Million, $1.13 Per Diluted Share; Full-Year 2020 GAAP Net Income Attributable to Common Stock of $871 Million, $2.25 Per Diluted Share

Fourth-Quarter “Core Earnings” Net Income Attributable to Common Stock of $440 Million, $1.15 Per Diluted Share; Full-Year 2020 “Core Earnings” Net Income Attributable to Common Stock of $863 Million, $2.23 Per Diluted Share

Board of Directors Approves New $1.25 Billion Share Repurchase Program; January 2021 Sale of $3 Billion of Private Education Loans Supports Capital Return Program in 2021

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released fourth-quarter and full-year 2020 financial results. Highlights of those results are included in the attached supplement. Complete financial results are available at www.SallieMae.com/investors.

Sallie Mae will host an earnings conference call tomorrow, Jan. 28, 2021, at 8 a.m. ET. Executives will be on hand to discuss various highlight of the quarter and to answer questions related to Sallie Mae’s performance. To participate, dial 877-356-5689 (USA and Canada) or 706-679-0623 (international) and use access code 7273338 starting at 7:45 a.m. ET. A replay of the conference call will be available approximately two hours after the call’s conclusion and will remain available through Feb. 11, 2021, by dialing 855-859-2056 (USA and Canada) or 404-537-3406 (international) with access code 7273338.

A live audio webcast of the conference call and presentation slides may be accessed at www.SallieMae.com/investors.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Category: Corporate and Financial