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As of 8:10 PM 03/4/15 All times are local (Market data is delayed by at least 15 minutes).

slm corp (SLM) Key Developments

Sallie Mae Announces Board Changes

Sallie Mae has announced the appointment of several new members to its national sales team. The company has appointed David Long as the new vice president and head of its south region. Long comes to Sallie Mae after spending the last four years at USA Funds where he was vice president of Sales managing the national sales and consulting teams. Nicki Bucceri returns to Sallie Mae as director of business development for North Carolina. Bucceri brings more than eight years of experience in higher education, including previous roles at Sallie Mae and most recently with Higher One Inc. Chris Earnshaw brings more than 12 year of higher education and financial experience to his new role as director of business development for New York. Prior to joining Sallie Mae, Earnshaw held positions at Nelnet Diversified Solutions, Key Bank and Chase Education Finance. Melony Ohalek returns to Sallie Mae as director of business development for Western Pennsylvania. Ohalek brings more than 15 years of higher education and financial aid experience most recently at Apollo Education Group and previously at Sallie Mae. Brad Riebel comes to Sallie Mae with more than 20 years of experience in higher education finance and banking, most recently at US Bank. Riebel will serve as director of business development for Minnesota. Shawn Murphy brings more than 18 years of higher education and financial aid experience to his new role as director of business development for Colorado. Murphy most recently served as interim Director of Financial Aid at the University of Denver and previously held positions at Rider University, the New Jersey Higher Education Assistance Authority and Citigroup Student Loan Corporation.

Sallie Mae Declares Preferred Stock Series A and B Dividends

Sallie Mae announced a 2015 first-quarter dividend on its Preferred Stock Series B of $0.4911093 per share. The dividend will be paid on March 16, 2015 to stockholders of record at the close of business on March 6, 2015. In addition, the company announced a 2015 second-quarter dividend on its Preferred Stock Series A of $0.87125 per share. The dividend will be paid on April 30, 2015, to stockholders of record at the close of business on April 20, 2015.

Sallie Mae Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of 2015

Sallie Mae reported earnings results for the fourth quarter and full year ended December 31, 2014. The company reported that net income attributable to common stock for the fourth quarter ended December 31, 2014 was $14.86 million, or $0.03 per diluted share, compared to $60.20 million, or $0.14 per diluted share, for the same quarter ended December 31, 2013. Net interest income for the fourth quarter ended December 31, 2014 was $150.68 million, compared to $122.21 million for the same quarter ended December 31, 2013. Net income attributable to common stock for the year ended December 31, 2014 was $181.29 million, or $0.42 per diluted share, compared to $258.94 million, or $0.58 per diluted share, for the same period ended December 31, 2013. Net interest income for the year ended December 31, 2014 was $578.48 million, compared to $462.11 million for the same period ended December 31, 2013. For 2015, the company expects diluted core earnings per share to be in the range of $0.48 to $0.50.

SLM Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015; Reports Net Charge-Offs for the Fourth Quarter of 2014

SLM Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, GAAP net income was $20 million or $0.03 diluted earnings per share, down from $60 million or $0.14 diluted earnings per share in the year ago quarter. The year-over-year decrease was attributable to a $64 million decrease in gains on sales of securities and a $12 million increase in operating expenses, partially offset by a $28 million increase in net interest income. Core earnings were $20 million or $0.03 diluted earnings per share, compared with $61 million or $0.14 diluted earnings per share in the year-ago quarter. Total interest income was $178,649,000 against $146,331,000 a year ago. Net interest income was $150,676,000 against $122,213,000 a year ago. Income before income tax expense was $44,182,000 against $96,793,000 a year ago. Net income attributable to the company common stock was $14,862,000 or $0.03 diluted earnings per share against $60,202,000 or $0.14 diluted earnings per share a year ago. For the year, GAAP net income was $194 million or $0.42 diluted earnings per share, down from $259 million or $0.58 diluted earnings per share in 2013. Core earnings were $195 million or $0.42 diluted earnings per share compared with $259 million or $0.58 diluted earnings per share for 2013. The company reported total interest income of $674,294,000 against $551,200,000 a year ago. Net interest income was $578,479,000 against $462,115,000 a year ago. Income before income tax expense was $333,752,000 against $416,527,000 a year ago. Net income attributable to the company common stock was $181,286,000 or $0.42 diluted earnings per share against $258,945,000 or $0.58 diluted earnings per share a year ago. The company provided earnings guidance for the year 2015. The company expects diluted core earnings per share between $0.48 and $0.50. The company expected full-year operating expenses of $325 million, plus an additional $5 million of reorganization expenses. For the fourth quarter, the company reported net charge-offs of $9,847,000 against $612,000 a year ago.

SLM Corporation to Report Q4, 2014 Results on Jan 21, 2015

SLM Corporation announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Jan 21, 2015

 

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