SLM · SLM Corp Q2 FY2026 earnings call record财报电话会记录

“While our most recent repayment wave increased by four percent, the net charge-offs for the portfolio, excluding this small impacted segment, grew at a much slower rate.”

“Compared with the prior year quarter, net interest income decreased by $44 million, while other income increased by $16 million, driven by growth in recurring program management fees from our strategic partnership and growth in servicing fee revenue.”

“Importantly, the underlying earnings power of the portfolio remains strong, supported by disciplined funding, attractive asset yields, and continued growth in fee-based revenue streams.”

“Year to date, we have repurchased approximately 13 million shares or 6.5% of the shares outstanding at the end of 2025 at an average price of $21.95 per share.”

“We have $242 million remaining under our share repurchase authorization, which we expect to substantially deploy throughout the remainder of this year.”

“At the end of the Q2, total risk-based capital was 13.1%, and Common Equity Tier 1 capital was 11.8%.”

“The volumes that we had anticipated for the year are coming in right in line with expectations.”

“I think that is sort of key component number one, and obviously something that's going to be important to our credit story for the remainder of this year as those customers come out of their modifications, and setting sort of new baseline levels of expectation going forward.”

“I think that is reflective of the fact that we are seeing general strength in the portfolio across the rest of our segments and the rest of the components that obviously more than offset the sort of full $25 million impact there.”

“Although we've covered a portion of the anticipated impact from this segment of borrowers and changing our recovery strategy, we still got to get through that over the second half of this year.”

“These resolution companies that we talked about are really targeting customers that do have an ability to pay and are relying on kind of the back door in our recoveries process to pick up the loans at a discount in a way that disadvantages the borrowers.”

“I also mentioned that we intend to expand the partnerships going into next year before next year's peak to cover grad volume that will start to originate this year, and that will be important for us to have those facilities as we have the real increases in opportunity from the PLUS reform.”