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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans $ 597,609 $ 565,338 $ 1,196,376 $ 1,161,945
Investments 13,710 15,139 28,456 29,646
Cash and cash equivalents 45,440 60,999 88,017 113,443
Total interest income 656,759 641,476 1,312,849 1,305,034
Interest expense:        
Deposits 201,478 211,286 405,617 431,731
Interest expense on short-term borrowings 3,613 3,310 7,014 6,872
Interest expense on long-term borrowings 74,848 54,708 148,428 107,243
Total interest expense 279,939 269,304 561,059 545,846
Net interest income 376,820 372,172 751,790 759,188
Less: provisions for credit losses 148,718 16,830 172,004 28,871
Net interest income after provisions for credit losses 228,102 355,342 579,786 730,317
Non-interest income:        
Gains (losses) on sales of loans, net (13) 111,929 187,722 254,968
Gains (losses) on securities, net (2,641) 2,103 (13,019) 4,221
Other income 29,430 27,773 58,117 56,774
Total non-interest income 26,776 141,805 232,820 315,963
Operating expenses:        
Compensation and benefits 84,900 85,261 175,730 181,737
FDIC assessment fees 9,782 11,727 22,185 25,039
Other operating expenses 71,664 60,218 122,019 110,863
Total operating expenses 166,346 157,206 319,934 317,639
Acquired intangible assets amortization expense 898 1,394 1,919 2,609
Total non-interest expenses 167,244 158,600 321,853 320,248
Income before income tax expense 87,634 338,547 490,753 726,032
Income tax expense 16,362 86,554 114,941 184,108
Net income 71,272 251,993 375,812 541,924
Preferred stock dividends 3,972 4,628 7,928 9,281
Net income attributable to SLM Corporation common stock $ 67,300 $ 247,365 $ 367,884 $ 532,643
Basic earnings per common share (in dollars per share) $ 0.32 $ 1.13 $ 1.75 $ 2.42
Average common shares outstanding (in shares) 209,282 218,924 209,978 219,670
Diluted earnings per common share (in dollars per share) $ 0.32 $ 1.11 $ 1.72 $ 2.39
Average common and common equivalent shares outstanding (in shares) 213,220 222,467 214,098 223,156
Declared dividends per common share (in dollars per share) $ 0.13 $ 0.11 $ 0.26 $ 0.22