XML 34 R22.htm IDEA: XBRL DOCUMENT v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company is managed as a single line of business with a single reportable segment originating and servicing high-quality Private Education Loans and providing other education-related services to customers. Our consolidated financial results are regularly reviewed by the Company’s Chief Executive Officer (the “CEO”) to allocate resources and evaluate financial performance.
The CEO evaluates the performance of the Company and decides how to allocate resources based on net income and total consolidated assets. The CEO uses net income to assess financial performance and to decide whether to re-invest profits into the Company or to return capital to stockholders in the form of dividends or the repurchase of common stock. Net income is also used to compare budget versus actual results, and the budget versus actual analysis is part of the segment financial performance review.
The following table illustrates the significant expense categories and amounts regularly provided to the CEO.
Three Months Ended 
 June 30,		Six Months Ended 
 June 30,

(Dollars in thousands)		2025202420252024
Non-interest expenses:
Compensation and benefits$84,900 $85,261 $175,730 $181,737 
Professional fees41,814 34,555 62,128 58,748 
Technology expenses18,687 15,114 37,028 29,413 
FDIC assessment fees9,782 11,727 22,185 25,039 
Other operating expenses11,163 10,549 22,863 22,702 
Total operating expenses166,346 157,206 319,934 317,639 
Acquired intangible assets impairment and amortization expense898 1,394 1,919 2,609 
Total non-interest expenses$167,244 $158,600 $321,853 $320,248