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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income:        
Loans $ 593,734 $ 565,046 $ 1,790,110 $ 1,726,991
Investments 14,955 16,299 43,411 45,945
Cash and cash equivalents 48,898 71,294 136,915 184,737
Total interest income 657,587 652,639 1,970,436 1,957,673
Interest expense:        
Deposits 203,577 225,749 609,194 657,480
Interest expense on short-term borrowings 717 3,467 7,731 10,339
Interest expense on long-term borrowings 80,316 64,020 228,744 171,263
Total interest expense 284,610 293,236 845,669 839,082
Net interest income 372,977 359,403 1,124,767 1,118,591
Less: provisions for credit losses 179,462 271,465 351,466 300,336
Net interest income after provisions for credit losses 193,515 87,938 773,301 818,255
Non-interest income:        
Gains (losses) on sales of loans, net 135,958 (31) 323,680 254,937
Gains (losses) on securities, net 4,876 (3,836) (8,143) 385
Other income 31,868 28,390 89,985 85,164
Total non-interest income 172,702 24,523 405,522 340,486
Operating expenses:        
Compensation and benefits 83,667 87,566 259,397 269,303
FDIC assessment fees 6,511 12,973 28,696 38,012
Other operating expenses 89,380 70,259 211,399 181,122
Total operating expenses 179,558 170,798 499,492 488,437
Acquired intangible assets amortization expense 846 1,225 2,765 3,834
Total non-interest expenses 180,404 172,023 502,257 492,271
Income (loss) before income tax expense (benefit) 185,813 (59,562) 676,566 666,470
Income tax expense (benefit) 49,963 (14,410) 164,904 169,698
Net income (loss) 135,850 (45,152) 511,662 496,772
Preferred stock dividends 3,994 4,648 11,922 13,929
Net income (loss) attributable to SLM Corporation common stock $ 131,856 $ (49,800) $ 499,740 $ 482,843
Basic earnings per common share (in dollars per share) $ 0.64 $ (0.23) $ 2.39 $ 2.21
Average common shares outstanding (in shares) 207,144 214,873 209,023 218,059
Diluted earnings per common share (in dollars per share) $ 0.63 $ (0.23) $ 2.35 $ 2.18
Average common and common equivalent shares outstanding (in shares) 210,607 214,873 212,922 221,553
Declared dividends per common share (in dollars per share) $ 0.13 $ 0.11 $ 0.39 $ 0.33