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Selected Quarterly Financial Information (unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Information |
|  | 2020
|  | First |  | Second |  | Third |  | Fourth
(Dollars in thousands, except per share data) |  | Quarter |  | Quarter |  | Quarter |  | Quarter
Net interest income |  | $ | 400,116 |  |  | $ | 348,775 |  |  | $ | 364,567 |  |  | $ | 366,537 |
Less: provisions for credit losses |  | 61,258 |  |  | 351,887 |  |  | (3,640) |  |  | (316,372) |
Net interest income (loss) after provisions for credit losses |  | 338,858 |  |  | (3,112) |  |  | 368,207 |  |  | 682,909 |
Gains (losses) on sales of loans, net |  | 238,935 |  |  | (369) |  |  | (4) |  |  | (247) |
Gains (losses) on derivative and hedging activities, net |  | 45,672 |  |  | 3,751 |  |  | (15) |  |  | 136 |
Other income |  | 7,487 |  |  | 25,412 |  |  | 9,646 |  |  | 1,043 |
Total operating expenses |  | 147,298 |  |  | 141,557 |  |  | 127,490 |  |  | 121,743 |
Total restructuring expenses |  | — |  |  | — |  |  | 24,127 |  |  | 2,088 |
Income tax expense (benefit) |  | 121,481 |  |  | (30,664) |  |  | 55,189 |  |  | 127,310 |
Net income (loss) |  | 362,173 |  |  | (85,211) |  |  | 171,028 |  |  | 432,700 |
Preferred stock dividends |  | 3,464 |  |  | 2,478 |  |  | 2,058 |  |  | 1,734 |
Net income (loss) attributable to SLM Corporation common stock |  | $ | 358,709 |  |  | $ | (87,689) |  |  | $ | 168,970 |  |  | $ | 430,966 |
Basic earnings (loss) per common share attributable to SLM Corporation(1) |  | $ | 0.88 |  |  | $ | (0.23) |  |  | $ | 0.45 |  |  | $ | 1.15 |
Diluted earnings (loss) per common share attributable to SLM Corporation(1) |  | $ | 0.87 |  |  | $ | (0.23) |  |  | $ | 0.45 |  |  | $ | 1.13 |
Declared dividends per common share attributable to SLM Corporation |  | $ | 0.03 |  |  | $ | 0.06 |  |  | $ | — |  |  | $ | 0.03 |
______ (1) Basic and diluted earnings per common share attributable to SLM Corporation are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted earnings per common share information may not equal annual basic and diluted earnings per common share.
|  | 2019
|  | First |  | Second |  | Third |  | Fourth
(Dollars in thousands, except per share data) |  | Quarter |  | Quarter |  | Quarter |  | Quarter
Net interest income |  | $ | 402,281 |  |  | $ | 396,868 |  |  | $ | 405,065 |  |  | $ | 419,101 |
Less: provisions for credit losses |  | 63,790 |  |  | 93,375 |  |  | 99,526 |  |  | 97,558 |
Net interest income after provisions for credit losses |  | 338,491 |  |  | 303,493 |  |  | 305,539 |  |  | 321,543 |
Gains (losses) on derivative and hedging activities, net |  | 2,763 |  |  | 16,736 |  |  | 1,961 |  |  | (3,635) |
Other income (loss) |  | 13,378 |  |  | 2,655 |  |  | 15,280 |  |  | (211) |
Total non-interest expenses |  | 140,147 |  |  | 138,806 |  |  | 153,621 |  |  | 141,679 |
Income tax expense |  | 56,296 |  |  | 33,801 |  |  | 40,701 |  |  | 34,666 |
Net income |  | 158,189 |  |  | 150,277 |  |  | 128,458 |  |  | 141,352 |
Preferred stock dividends |  | 4,468 |  |  | 4,331 |  |  | 4,153 |  |  | 3,885 |
Net income attributable to SLM Corporation common stock |  | $ | 153,721 |  |  | $ | 145,946 |  |  | $ | 124,305 |  |  | $ | 137,467 |
Basic earnings per common share attributable to SLM Corporation(1) |  | $ | 0.35 |  |  | $ | 0.34 |  |  | $ | 0.29 |  |  | $ | 0.33 |
Diluted earnings per common share attributable to SLM Corporation(1) |  | $ | 0.35 |  |  | $ | 0.34 |  |  | $ | 0.29 |  |  | $ | 0.32 |
Declared dividends per common share attributable to SLM Corporation |  | $ | 0.03 |  |  | $ | 0.06 |  |  | $ | — |  |  | $ | 0.03 |
_____ (1) Basic and diluted earnings per common share attributable to SLM Corporation are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted earnings per common share information may not equal annual basic and diluted earnings per common share.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306 + Details
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