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August 31, 2015 8:12 PM ET

Consumer Finance

Company Overview of Sallie Mae Bank

Company Overview

Sallie Mae Bank provides education loans to students and their families. It funds loans under various education loan programs, including education and private consolidation loans. The company was founded in 2005 and is based in Reston, Virginia. Sallie Mae Bank operates as a subsidiary of SLM Corporation.

5217 South State Street

Suite 210

Murray, UT 84107

United States

Founded in 2005

Phone:

703-810-3000

Fax:

703-810-5074

Key Executives for Sallie Mae Bank

Chief Executive Officer and President
Chief Executive Officer of Sallie Mae and Director
Age: 63
Executive Vice President of SLM Corporation, General Counsel of SLM Corporation and Corporate Secretary of SLM Corporation
Age: 55
Compensation as of Fiscal Year 2015.

Sallie Mae Bank Key Developments

Sallie Mae Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for 2015

Sallie Mae announced earnings results for the second quarter and six months ended June 30, 2015. The company reported that net income attributable to common stock for the second quarter ended June 30, 2015 of $86.15 million, or $0.20 per diluted share, compared to $40.90 million, or $0.09 per diluted share, for the same quarter ended June 30, 2014. Net interest income for the second quarter ended June 30, 2015 was $168.26 million, compared to $144.54 million for the same quarter ended June 30, 2014. Net income attributable to common stock for the six months ended June 30, 2015 was $129.02 million, or $0.30 per diluted share, compared to $88.35 million, or $0.20 per diluted share, for the same period ended June 30, 2014. Net interest income for the six months ended June 30, 2015 was $339.21 million, compared to $283.78 million for the same period ended June 30, 2014. For 2015, the company expects diluted core earnings per share to be in the range of $0.57 to $0.59.

Sallie Mae Bank Appoints Jim Matheson and Vivian C. Schneck-Last to the Board of Directors

Jim Matheson and Vivian C. Schneck-Last have been appointed to the board of directors of Sallie Mae Bank. Mr.   Matheson represented  the state  of Utah in  the U.S.   House of Representatives  from 2001  to 2015.  Mr. Matheson served as  a chief deputy  whip for the  House Democratic  Caucus and was  a member of  the Energy  and Commerce,  Financial Services, and  Transportation and Infrastructure Committees.   Earlier this year, he joined Squire Patton Boggs. Ms.   Schneck-Last brings more than 25 years  of experience in developing, implementing, and executing strategic technology initiatives at Goldman Sachs  & Company, most recently serving  as Managing Director, Global Head  of Technology  Governance.  During her tenure,  Ms.  Schneck-Last played instrumental  roles in readying the firm's information technology function  first for  becoming a  public company  and then  a bank  holding company.   Ms. Schneck-Last  established the firm's  technology governance function and  Technology Risk Committee, founded the Technology Business Development function and was a key  liaison with regulators during the firm's transition  to bank holding company status.

Sallie Mae Appoints New Members to National Sales Team

Sallie Mae announced the appointment of several new members to its national sales team. David Long joins Sallie Mae as vice president and head of the companyâ s 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. Long is a graduate of the University of South Alabama and holds a master's degree from Samford University. 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. Bucceri is a graduate of the University of South Carolina. Chris Earnshawbrings 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. He is a graduate of Rhode Island College and earned a master's degree from Providence College. 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. She is a graduate of Ohio State University. Brad Riebelcomes 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. He is a graduate of St. Johnâ s University. Shawn Murphybrings more than 18 years of higher education and financial aid experience to his new role as director of business development for Colorado. Murphymost 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. He is a graduate of Rider University.

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