Exhibit 99.1


sma06.jpg
NEWS RELEASE
 
 
FOR IMMEDIATE RELEASE
 

SALLIE MAE REPORTS FOURTH-QUARTER AND FULL-YEAR 2016 FINANCIAL RESULTS
Full-Year Private Education Loan Originations of $4.7 Billion, Up 8 Percent Year-Over-Year
Private Education Loan Portfolio Grows to $14.1 Billion, Up 34 Percent Year-Over-Year
Full-Year Net Interest Income Increases to $891 Million, Up 27 Percent Year-Over-Year

NEWARK, Del., Jan. 18, 2017
 — Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released fourth-quarter 2016 and full-year 2016 financial results. In 2016, the company grew private education loan originations 8 percent to $4.7 billion, expanded its private education loan portfolio 34 percent to $14.1 billion, and increased net interest income 27 percent to $891 million, all compared to 2015.
“We continue to execute on our mission as we helped 348,000 families make college happen in 2016, originations of high-quality student loans increased again, and our efficiency ratio improved as we saw a healthy return on customer experience investments,” said Raymond J. Quinlan, chairman and CEO. “These positive indicators illustrate how Sallie Mae is positioned for continued growth in 2017.”
For the fourth-quarter 2016, GAAP net income was $70 million, compared with $90 million in the year-ago quarter. GAAP net income attributable to the company's common stock was $65 million ($0.15 diluted earnings per share) in the fourth-quarter 2016, compared with $85 million ($0.20 diluted earnings per share) in the year-ago quarter. The year-over-year decrease was primarily attributable to a $58-million decrease in gains on sales of loans, net, a $13-million increase in provision for credit losses, and a $13-million increase in total non-interest expenses, which were offset by a $58-million increase in net interest income and a $12-million decrease in income tax expense.
Comparisons of 2016 and 2015 results reflect the company's decision in early 2016 to retain all new loan originations and recognize interest income over the life of the loans rather than sell the loans and recognize gains from their sale. In 2015, the company sold $1.5 billion in loans for a pre-tax gain of $135 million, generating $0.20 diluted earnings per share attributable to this activity. In 2016, there was no corresponding gain or earnings per share contribution because loan sales were not repeated.
For 2016, GAAP net income was $250 million, compared with $274 million in 2015. GAAP net income attributable to the company's common stock was $229 million ($0.53 diluted earnings per share) in 2016, compared with $255 million ($0.59 diluted earnings per share) in 2015.
Fourth-quarter 2016 results vs. fourth-quarter 2015 included:
Private education loan originations of $608 million, up 6 percent.
Net interest income of $245 million, up 31 percent.
Net interest margin of 5.55 percent, up 7 basis points.
Average private education loans outstanding of $14.1 billion, up 33 percent.
Average yield on the private education loan portfolio was 8.08 percent, up 24 basis points.
Private education loan provision for loan losses was $43 million, up from $29 million.
Private education loans in forbearance were 3.5 percent of private education loans in repayment and forbearance, up from 3.4 percent.
Private education loan delinquencies as a percentage of private education loans in repayment were 2.1 percent, down from 2.2 percent.

1

The following information was filed by Slm Corp (SLM) on Wednesday, January 18, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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